Super rare $1,000 bill from 1918 is set to make a huge sum at auction
Published on Aug 31, 2023 at 2:31 PM (UTC+4)
by Alessandro Renesis
Last updated on Aug 31, 2023 at 2:31 PM (UTC+4)
Edited by
Kate Bain
This rare $1,000 bill is expected to fetch an enormous amount of money at auction.
The bill is from 1918 but it looks like it came straight from the bank this morning.
Its mint condition is just one of the many reasons why the bill is expected to break auction records.
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There’s a company that tracks and rates of all collectible bills, and they say this is the best possible condition for a bill that’s over 100 years old.
The company in question is called Track & Price, and the company’s experts further explained this banknote is extremely rare.
The first and last time a $1,000 Federal Reserve Note appeared at auction was in 1997.
“[It is] beautifully bright and strictly original, this is the equal of any $1,000 Federal Reserve Note that could exist,” Track & Price stated.
“It is fresh with its embossing effect readily apparent to even the untrained eye,” the company further explained.
Dustin Johnston, VP at Heritage Auctions, said this “is an exceptional note.”
“It’s an absolute must-have for collectors of large-denomination note,” Johnston added.
A $1,000 note is no longer considered legal tender.
In 1969, the United States Treasury decided to get rid of all denominations larger than $100.
The seven denominations that remained are the ones that still exist today, ranging from $1 to $100.
Amazingly, this isn’t the largest denomination that ever existed.
For a brief amount of time, $2,000 and $5,000 notes circulated.
Also, at one point the US Treasury was even issuing $100,000 (!!) gold certificates.
As for this rare $1,000 bill, the auction is still open as we speak.
The current bid is $125,000 and there are two weeks left to bid.
Heritage Auctions says the bill is expected to fetch $250,000 when the gavel falls.
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