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    Gem New $50 Gold Star - A New Small-Size Legend

    Fr. 2404* $50 1928 Gold Certificate. PCGS Gem New 65PPQ.
    The iconic Small Size rarities that we know exist today were usually created by more than a limited print run. Small Size Gold Certificates faced heavy redemption rates due to Roosevelt's executive order to ban the public ownership of gold. The star notes for Series 1928 Gold Certificates were printed in very limited quantities, and after attrition, survivors are few, especially for the $50 and $100 denominations. About a dozen $50 stars are recorded by serial number, with the next finest grade (next to this note) About New 53 by PCGS. A half dozen or so $100 stars are recorded, the finest of which also tops out at About New.

    In its first offering ever, this spectacular note has the rarity and grade that makes it one of the most important Small Size type notes known to collectors. The note is wholly original, with a deep wheaten-gold overprint against bright and creamy paper. The margins frame the note perfectly, earning it a Gem New 65PPQ grade. It is in a league of its own compared to its surviving counterparts. Drawing a pricing comparison with other notes is difficult, but one can see that the other examples set a bar over which a six figure bid tonight will seem reasonable. In comparison to other 1928 Gold Certificates, one can argue that this note is more exciting than any of the regular issue $100's in Gem 66 grades. They have garnered $50,000 to $70,000 in the last year with an example even topping the $100,000 mark in 2008. Most Small Size enthusiasts likely rank this note above the Fr. 1502* $2 1928A Legal Tender in Gem Uncirculated 65 EPQ that sold in our last Central States Signature auction some 12 months ago sold for $88,125. Wherever the bidding stops this evening, everyone will agree, this is by far, one of the top Small Size rarities in existence and we are fortunate enough to even be able to offer it here this evening.

    Auction Info

    Auction Dates
    April, 2014
    23rd-28th Wednesday-Monday
    Bids + Registered Phone Bidders: 7
    Lot Tracking Activity: N/A
    Page Views: 2,070

    Buyer's Premium per Lot:
    17.5% of the successful bid (minimum $14) per lot.

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