Lot 1225
1928, $5000 Federal Reserve Note. PCGS About New 50 Apparent. Fr-2220-E. There are less than two dozen 1928 series $5000s known from all districts. Of those, no more than a half dozen are from the Richmond district bank. Between the two major grading services, a combined six notes from Richmond have been graded-but at least one of those notes in the populations reported is a duplication (it has been graded by both services). This cataloger has seen the majority of these pieces, and this one-despite a minor flaw-is easily one of the nicer looking examples.
The freshness and originality of this note is remarkable. The colors are bold, the paper is bright, and the inks are as fresh as the day the note was printed. There are a couple of minor bends that account for the assigned base grade of About New 50, but there are no signs of washing, doctoring, or repairs that often accompany these high denomination notes. Although PCGS Currency was obliged to mention the small tear that is present at the top edge just to the right of center, it could be easily missed at first glance and does not stand out as a glaring problem.
While 1934 series $5000s do appear on the market with some frequency, the public offering of a 1928 Richmond note are few and far between. Estimating this note is somewhat of a challenge, but given the combination of its rarity, desirability, and aesthetic appeal, we would not be at all surprised to see this note settle comfortably in the high five-figure range.
Estimated Value $70,000 - 90,000.
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| Realized $114,563 |
