Skip to main content
Go to accessibility notice


    First Reported Kansas City District 1928 $10,000 Note

    Fr. 2230-J $10,000 1928 Federal Reserve Note. PMG Very Fine 30.
    A spectacular new discovery, this offering is certainly the highlight of tonight's auction. It is the first Series 1928 $10,000 FRN from the Kansas City district to be reported. The 1928 Ten Thousands represent, as a group, the pinnacle of rarity for small size currency. Although they were issued by eleven of the twelve Federal Reserve districts, the highest print run totaled fewer than 15,000 notes, with New York recording this highest number at 4,680 and San Francisco the lowest at 36. (Ironically, the only New York district note known to have survived is housed in the collection of the San Francisco Fed, while two examples from San Francisco are reported, one of which sits alongside the New York district note in the Fed's collection.) A mere ten pieces from all districts combined comprise the entire census of survivors, with two of that number in museum collections as noted above. This wonderful new entrant to the census becomes number eleven and also adds another district to the known side of the ledger. Fortuitously for collectors, it is a pleasing, evenly circulated piece displaying good color and just honest wear. No attempts to "improve" this great rarity have been made, a fate that has befallen many of this note's brethren. With the exception of a Choice New Richmond note that brought almost $400,000 at auction three years ago, it's the first 1928 $10,000 note to cross the auction block since 2013. It is difficult to estimate an ultra-rarity of this caliber so we will be conservative and let the bidders decide who takes home this great trophy note tonight.

    Estimate: $250,000 - up.

    Auction Info

    Proxy Bidding Ends
    23rd Friday 5:50 pm CT
    Auction Dates
    21st-23rd Wednesday-Friday
    Proxy Bidding Time Remaining
    4 Days 20h 39m 48s
    Bids + Registered Phone Bidders: 5
    Lot Tracking Activity: 105
    Page Views: 3,492

    Buyer's Premium per Lot:
    20% of the successful bid (minimum $19) per lot.

    This lot is in: 3 - Heritage Signature® Auctions Floor Session Platinum Night (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live):
    (Lots 22001-22182) - 6:00 PM Central Time, Friday, April 23, 2021.
    (Proxy bidding ends ten minutes prior to the session start time. Live Proxy bidding on Heritage Live starts 7 days before the live session begins and continues through the session.)

    Show All Session Information

    Show Auction Type Info

    Exhibition Viewing Times, Title Page, Floor Session and License Information

    Additional Location Info:
    Heritage Auctions
    2801 W. Airport Freeway
    Dallas, TX 75261

    Current Bid:
    Bid Protection
    w/ Buyer's Premium (BP) : $174,000.00 Minimum Next Bid: $150,000 ($180,000.00 w/ BP)
    Track Item