Stacks Bowers would be conducting the third session of Joel Anderson Collection of Paper Money sale on 25th October. One of the highlights includes an 1878 $5,000 Legal Tender Note, graded PCGS Currency Very Fine 25. Specimen.
Out of the 4,000 pieces that were printed, none survive today. The offered specimen note was printed on BEP banknote paper and features the original designs. However, instead of the serial numbers, it features three blue stars.
The obverse features a portrait of James Madison while the reverse features an imagery of an American bald eagle. The specimen was provided to the Chinese government by the U.S. Treasury Department. Governments even today, exchange specimen examples of their currency to facilitate trade and exchange.
The same Specimen note was sold for $800,000 in 2008. It has an estimated value between $600,000 and $800,000. Experts believe that it could be sold for a much higher amount since its very rare and unique.
Image Courtesy: Stacks and Bowers