2016-09-15 Thu

A Bonhams 2014 sale called “Treasures from The Caren Archive — How History Unfolds on Paper” sold a $1 Series 1880 United States note (Friedberg 28) in a not-so-great condition for $15,000, almost 100 times more than its original market value.

The coin was highly valued because of the history behind it which was linked directly with Thomas Alva Edison. It was the first note that was collected for the sale of Edison Electric Light in first Central Station District, New York City. This light was furnished through a Meter. Chas. L. Clarke and then signed twice more in black ink by him.

Clarke was the chief engineer of the Edison Electric Light Company and responsible for the world’s first commercial power plant, Pearl Street Station in New York City.

New York businesses took advantage of the Power Plant from September 1882 without any charges. In January 1883, $50.40 was paid by Ansonia Brass, partially with this note, and it became the first payment of the $9,000 collected by Edison Electric that year. Edison Electric and General Electric collaborated in 1892.