Lot #15853 - Fr. 2230-E $10,000 1928 Richmond #E00000191A

ASTOUNDING DISCOVERY Fr. 2230-E 1928 $10,000 Richmond PCGS Ch. New 63

Small Size Type Notes > Federal Reserve Notes

Fr. 2230-E $10,000 1928 Richmond #E00000191A
Grade: PCGS Ch. New 63    
Several years ago, I heard a story about a Richmond 1928 $10,000, yet because of so many internet pictures floating around I discounted the possibility. Last year I was contacted by a friend of the owner and realized it was true. In July 1969 (the 14th) the government issued that all U.S. currency above $100 denomination was being removed from circulation, and when the brothers heard of this decision they decided to contact their U.S. Senator for help in acquiring a $10,000 note. In a short period of time this note was transferred to a bank out west where it was purchased at face value by the brothers and it has been in their possession until I received it in January. Based on the acquisition arrangements it's easy to understand why it's from Richmond, just much closer to where the Senator would have arranged the transaction and transfer. It appears that all 12 districts issued 1928 $10,000s but based on the Standard Guide to Small Size U.S. Paper Money, 10th Edition, only four districts are reported. New York and Richmond were the largest numbers printed with 4,680 and 3,024 respectively, with other ranging from 360 to 1800, for a total issue of 15,684. Of these only four districts are known, including this note being the third from Richmond. The last one was sold well over a decade ago in 2005 where it brought $241,500. It was serial #E000000178A and this one is #E000000191A. The three known from Atlanta are VF 20, XF 45 and AU 50. There is also a Cleveland in Fine. The most recent sale was five years ago when an XF realized $215,000. That is all the verified examples listed in Track & Price, of course someone may have other records but currently I do not. A lovely note with excellent quality. These were basically used for vault cash and bank to bank transfers, so perfection was not a requirement. Based on previous appearances this issue is truly rare with only six now verified.
Current Bid: $ 330,000.00

Estimate: ($ 300,000.00 - $ 450,000.00)

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