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NY Post
New York Post
22 Sep 2023


NextImg:Rare Great Depression-era $10,000 bill sells for $480K — but who’s on it?

How much would you pay for $10,000?

A rare Great Depression-era $10,000 bill was sold at an auction last week for a record $480,000.

The Federal Reserve note issued in 1934 topped the Long Beach Expo US Currency Signature Auction hosted by Dallas-based auction house Heritage Auctions, according to a press release.

While most of our dollar bills today feature a portrait of a president, this bill has a portrait of President Lincoln’s Secretary of the Treasury, Salmon P. Chase.

The auction house noted that this particular item was certified by Paper Money Guaranty (PMG) and was Exceptional Paper Quality (EPQ) graded.

The Boston bill went for a record-breaking figure, but it’s not a “huge surprise” that it did.

The $10,000 bill has a portrait of President Lincoln’s Secretary of the Treasury, Salmon P. Chase.
Heritage Auctions

“Large-denomination notes always have drawn the interest of collectors of all levels,” Dustin Johnston, Vice President of Currency at Heritage Auctions, said in a statement.

“The $10,000 trails only the $100,000 gold certificate issued in 1934, and of the 18 examples graded by PMG, this example is tied for the highest-graded,” Johnston added. “Among all small-size $10,000 FRNs, PMG has graded only four equal and five higher, so this is an absolute prize that will command a share of the spotlight in its new collection home.”

Currency worth $10,000 is already impressive enough - it's a much larger sum than most people will hold in their hands at once in a lifetime.

The $10,000 bill went for a record-breaking figure, but it’s not a “huge surprise” that it did.
Heritage Auctions

The $10,000 bill was the highest denomination currency to ever publicly circulate in the US, according to the Museum of American Finance. Since 1969, the highest denomination currency issued in the US has been the $100 bill.

The Museum also noted that there was once a $100,000 bill with a portrait of Woodrow Wilson, but it was used solely for transferring funds between Federal Reserve Banks — not for everyday retail transactions.