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    Description

    Near-Gem Binion $10000

    Fr. 2231-B $10,000 1934 Federal Reserve Note. PCGS Apparent Very Choice New 64.
    Banks used $5000 and $10000 Federal Reserve notes primarily for bank to bank transactions. The number printed was dismal compared to the needs of the banks to transfer currency between their institutions. As reserve requirements fell and other methods of transferring funds were introduced, there was no longer a need for these iconic denominations. Despite nearly a decade of printing and issuing $10000's, the New York district only managed to put 11,520 notes into circulation and since most were banked controlled, they were redeemed in large numbers.

    This fully margined and bright example was part of the famed Binion Hoard which was part of a 100 note, $1 Million display in Binion's Horseshoe Casino in Las Vegas. As with most examples from the hoard, it remains bright and high grade with attractive paper and some minor restorations. While the Binion notes are the most commonly offered $10000's, their story and pedigree is highly coveted, with the last example, a PMG Uncirculated 62 note, realizing $129,950 in our FUN Signature Auction just a year ago.
    From The Kiawah Collection




    View all of [The Kiawah Collection ]

    Auction Info

    Auction Dates
    January, 2015
    7th-12th Wednesday-Monday
    Bids + Registered Phone Bidders: 7
    Lot Tracking Activity: N/A
    Page Views: 2,685

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    Sold on Jan 12, 2015 for: Sign-in or Join (free & quick)
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