The thousand-dollar bill that could be worth $3 million

Section:

Today the silver that backed this note would be worth 50 percent more than the note's face value.

* * *

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.

... Dispatch continues below ...



ADVERTISEMENT

Fisher Precious Metals is preparing and equipping clients for the upcoming 'Everything Bubble'

Fisher Precious Metals, voted North America's bullion dealer of the year for 2018 and known for personal service and great pricing, has been helping Americans and Canadians protect their wealth with precious metals for more than a decade. Enjoying a five-star client rating across the internet with no complaints at the Better Business Bureau, the team at Fisher Precious Metals works hard to serve you.

We have helped thousands of clients in buying and selling bullion, arranging segregated and offshore storage, establishing precious metals IRAs, and obtaining certified precious metals appraisals. We provide security to our clients with our Bullion Authenticity Guarantee. We recommend that you read our article "How to Avoid Bullion Counterfeits":

https://fisherpreciousmetals.com/precious-metals/bullion-authentication/

As a family-owned business, we strive to help you assess your wealth-protection goals and overall investment objectives. From the new precious metals buyer to the seasoned bullion investor, we are here to help you with a no-pressure, confidential consultation. Rest assured that everyone in our firm owns physical precious metals and no one is compensated via commission -- period.

Fisher Precious Metals is your full-service precious metals investment partner for life. Please call us at 1-800-390-8576 or visit us here:

https://fisherpreciousmetals.com



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...

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16