2018-10-11 Thu

Stacks and Bowers would be organising Part III of Joel Anderson Collection Sale on 25th October in Baltimore. Expectations are sky high because the first two parts of the sale were a grand success.

One of the highlights this time is a Series 1890 $1,000 Treasury note. It is also known as Grand Watermelon because of its high denomination and the three zeroes on its reverse which look like watermelons. A portrait of Union Civil War Gen. George G. Meade and a big brown Treasury seal are featured on the obverse.

Out of the 16,000 notes that were printed, only five exist today. Out of the five existing examples, three are showcased in various institutions and two are in private hands. The offered note with serial number A13343 STAR is graded Currency Choice About New 58 Premium Paper Quality by PCGS and is the finest of the two note1s in private hands. It was bought in 2005 for $1,092,500 and is being offered at a starting bid of $750,000. The other existing specimen in private hands with serial number A3055 was sold for $1,527,500 in 2013.

A star on the serial number generally indicates a replacement note. However, the offered specimen was issued much before this practice was followed. Over 20 symbols including a STAR was used on older notes like this 1890 issue to symbolise the end of a serial number.

Image Courtesy: Stacks and Bowers