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The thousand-dollar bill that could be worth $3 million
Today the silver that backed this note would be worth 50 percent more than the note's face value.
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By James Tarmy
Bloomberg News
Thursday, December 20, 2018
In 1891 the U.S. Treasury printed some thousand-dollar bills, around 1,500 of them. Rather than enter mass circulation, though, the silver certificates were primarily used as a sort of proto-wire transfer among banks, says Peter Treglia, the director of currency for Stacks Bowers Galleries, a coin and currency auctioneer.
As a result the bills never made it into private hands. They never even stayed in banks' hands for long. "Back then currency changed so frequently that the 1891 bills circulated for only two to three years," Treglia says.
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One of those thousand-dollar bills ended up in the Smithsonian. Another remained in a private collection for more than 80 years. Its first reported sale as a collectible item, rather than a piece of currency, was in the 1970s. The rest, presumably, were lost. ("I'd bet a lot of money that another one of these notes won't turn up," Treglia says. "Things are discovered all the time, but not of this magnitude.")
That single remaining note, dubbed the "Marcy Note" because it features a portrait of U.S. senator (also secretary of war and governor of New York) William Marcy, is now up for auction with an estimate of $2 million to $3 million. ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2018-12-20/the-1-000-bill-that-c...
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