Extremely Rare 1882 $500 Gold Certificate to be Auctioned

24 Oct 2018  Wed

The third session of Joel Anderson Collection of Paper Money sale would be conducted on 25th October by Stack’s and Bowers.

One of the highlights is an 1882 $500 Gold Certificate, graded PCGS Currency Very Fine 35. The note features signatures of Rosecrans and Hyatt. The only other existing example is a part of the Federal Reserve’s collection. Joel Anderson purchased this rare example for $1.41 million during its first appearance in a public auction in 2013.

The obverse features a portrait of Abraham Lincoln. The Act of July 12, 1882 modernized the national banking system and resulted in the redesign of American currency notes. One of the design elements highlights this important Act.

The denomination is written in large numerals and is printed over a circular spirograph pattern. A text reads “Five Hundred Dollars in Gold Coin” has been deposited in the Treasury of the United States and is “repayable to the bearer in demand”. A big read seal can be seen with the word GOLD in Gold letters. The reverse features a flying eagle vignette with a red spiked D.

The offered note has an estimated value between $1 million and $1.5 million.

Image Courtesy: Stack’s and Bowers