It’s a good thing those Mayans were wrong: the world did NOT end in 2012 and we are all still here, roaring into 2013 invigorated and ready to buy outstanding examples of rare United States currency.
Heritage Auctions – www.ha.com/currency – will be hosting this year’s annual F.U.N. (Florida United Numismatics website – click here) auction, featuring an amazing selection of currency up for grabs. In fact, there are so many rarities available Heritage set aside a special “Platinum Night” event on January 11, 2013 for some high end notes that almost never grace the public auction block. Some of the notes are projected to realize over $500,000, perhaps close to $1,000,000!
Why are so many big time notes up for sale? The national economy is on shaky ground, and some note sellers might need to liquidate portions of their collections to free up much-needed cash. In other cases, notes are being auctioned off as part of estate settlements, and naturally conservators want to get the most money possible at a formidable auction venue. Finally, folks might be letting some of their notes go to upgrade their collections. YES, some people with notes valued in excess of $25,000 will sell from time to time so they can buy even rarer material. It’s part of the collecting process that many paper money enthusiasts treasure.
“Platinum Night” takes place on January 11, 2013 in Orlando Florida. Whether or not you can actually afford to take part in this momentous event is unimportant: it will be a thrilling evening to witness, as many of the hobby’s most sought after rarities will trade hands. Heritage Auctions will also make out nicely on the deal: the buyer’s premium on some high end lots is 17.5%!
A few of our favorite notes from the 2013 FUN Currency Auction’s Platinum Night
Opens at: $300,000 (not including Buyer’s premium)
WOW – this note is nothing to sneeze at! 🙂 Anything with the Amon Carter pedigree is worth its weight in gold, in this case MORE than its weight in gold.
Only 4 examples of this Fr. 187K note are known to exist, two of which are permanently impounded in government collections: The Federal Reserve Bank of New York and the Smithsonian Institution. This particular note sold for $517,000 at another Heritage event in 2006, while the other has been off the market since 1998. Expect the heavy hitters to lineup for this unique opportunity to acquire one of the most valuable notes in all of United States paper money collecting. This note is graded a respectable PMG Extremely Fine 40, with comments that minor restoration work was done on the left hand side of the note and that it has “Great colors”. Unlike most other examples of USA paper money, this one is SO RARE that an XF NET grade is almost unimportant. This note is being released from the Greensboro Collection.
2. Fr. 1180 1905 $20 Gold Certificate ‘Technicolor Note” – Lyons-Treat, PCGS Gem New 67 PPQ
Opens at: $75,000 (not including Buyer’s premium)
High grade Technicolor Note chasers, start your engines! Famed collector William Philpott acquired 25 of these notes from a friend at the Treasury. This set of notes has some of the best preserved examples of Fr. 1180 in existence, many of which easily make the Superb Gem mark. Philpott’s lot is from a pack of notes, but the notes are NOT consecutively numbered. They have all been broken up over the years and reside in the hands of top currency collectors. A Heritage 2008 sale of a similar note went for $132,250, while a 2011 sale garnered $97,750. Heritage is confident this particular note will go for upwards of $100,000, just under the high mark set in 2008 when the currency market was robust.
Opens at: $60,000 (not including Buyer’s premium)
New to census, first public offering – According to Heritage, the owner of this note literally “walked into” their New York office offering it for sale. It was originally acquired by the owner’s father some 80 years ago. This is only the SECOND known 1928 $1000 New York Star, and one of just over 12 known 1928 $1000 stars total known across all districts. This particular note is the highest graded example known. Heritage last sold a 1928 $1000 star in 2005, although a handful of these notes have been sold by Jhon E. Cash. Cash is quite possibly the largest holder of 1928 $1000 star notes, and has definitely owned nearly every known note at some point in the past decade. Expect Mr. Cash to be in the hunt for this “peach” of note. It is literally a once in a lifetime opportunity to take home an exemplary trophy from the 20th century.
Opens at: $7,750 (not including Buyer’s premium)
According to Heritage: “A neat item which we have not had the opportunity to offer before.” This brick of notes is still in its original wrapping materials, although portions of them have some damage. The notes contained inside, however, are most certainly Uncirculated or better. The brick also includes a pack of star notes.
Heritage projects a winning bid of at least $13,000. We’re not sure it this lot will meet that expectation. 1976 $2 FRNs are popular, but also very common. Bank packs, bricks, and bulk lots make regular appearances on eBay hailing from all 12 of the Federal Reserve districts. While this brick doesn’t contain any “rare” notes, it is unique because it has largely been untouched after leaving the Bureau of Engraving and Printing facilities. This is a “neat” find for certain, but beyond the novelty of owning a complete brick of 4000 notes, we don’t think it has much investment potential. It’s very possible similar bricks are still stocked inside bank vaults, long forgotten over the years. This particular offering will probably get a tepid response unless a well informed bidder knows that complete bricks are scarce.
As always, the rest of the auction has many great notes for collectors on a budget. In fact, some notes with great investment potential might start below $5,000. It’s one thing to click through Heritage’s online catalog and look at the big dogs going for six digits, but it’s another to spot notes opening at a fair price that can be sold later for a profit.
Remember, PaperMoneyAuction.com has NO buyer’s premium on any of its notes. All our prices are the same as listed on our dealers’ websites. That’s good news for those who don’t have the extra padding in their wallet to fork over another 17.5% buyer’s premium on top of their winning bid.
PaperMoneyAuction.com is not affiliated with Heritage Auctions. Any trademarks, quotes, or proprietary information are property of Heritage Auctions, LLC. PaperMoneyAuction.com was not compensated for this post. It is meant for informational purposes only. Please visit the Heritage Auctions website or come in person to the FUN auction event in Orlando to place bids.