2018-05-28 Mon

The Lyn Knight Auction U.S. Paper Money Sale will be offering the King of Small Size Number 1 Notes on 8th June. The number A00000001A Series 1966 $100 United States note was a part of Amon Carter Jr’s collection and is the first note of the series printed. The same note appeared in the market last time in 2004. It was offered with a starting price of $90,000 and a minimum estimate of $150,000. The cataloguer has graded the note as Very Choice Crisp Uncirculated.

Only 768,000 such notes were printed and this particular note was probably issued because they were Legal Tender notes. As per the Act of May 3, 1878, United States notes outstanding must be maintained at a face-value $346,681,016. $1 (Series 1928 only), $2, and $5 denominations were issued in small-size notes. Notes of high denominations were printed to maintain the face value requirement with a lesser number of notes. The Act was rolled back in 1993 and all the notes remaining in the Treasury were destroyed.

Image Courtesy: Lyn Knight Auctions