$500 Rarity to be Sold in Stack’s Bowers Galleries November 2019 Auction

 

Choice Uncirculated 1928 $500 Gold Certificate. Images courtesy Stack's Bowers

By Brad CiociolaCurrency Specialist, Stack’s Bowers ……
 

A recently rediscovered Series of 1928 $500 Gold Certificate will be available to the collecting public for the first time in decades in Stack’s Bowers Galleries’ Official Currency Auction of the Whitman Coin & Collectibles Winter Expo, November 14 in Baltimore, Maryland. The note, found in lot 10305, was recently graded by PMG, receiving a grade of Choice Uncirculated 63. It is one of just 10 examples of the type to be graded uncirculated by the service.

Only around 110 examples of the Series of 1928 $500 Gold Certificate are known to survive and they are widely accepted as one of the key notes to any small size currency collection. These notes were actually illegal to possess from April 5, 1933, until April 24, 1964, due to the executive order issued by President Franklin D. Roosevelt that took the United States off of the gold standard.

This example had resided in a 50+-year-old collection in the Deep South before coming to us this summer. This particular example is quite stunning with a deeply inked impression of the design. The universal back design (also found on the Federal Reserve Note) is vividly inked with a dark green hue generating a lovely contrast to the frosty white paper. The note carries a pre-auction estimate of $30,000-$40,000.

The Stack’s Bowers Galleries Official Auction of the Whitman Coin & Collectibles Winter Expo will be held November 12-15, 2019. For more information on the auction or to consign to future auction events contact Director of Currency Peter Treglia at petert@stacksbowers.com or Currency Specialist Brad Ciociola at bciociola@stacksbowers.com.
 

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