The Joel Anderson Collection of Treasury Notes of the War of 1812 was sold for a total amount of $561,720 at the ANA National Money Show by Kagin’s Auctions in March. A $10 note from that collection was sold for a whopping $336,000! Experts believe that it was the first circulating note of the U.S. government.

Only two such Treasury notes exist today, one is a $3 note and the other one is the $10 note that was offered during this auction. The offered note is the finest one among the two. It is fully signed, uncanceled and issued for circulation.

$10 notes were delivered a month before the $3 notes, making them the very first US notes in circulation. It was discovered by a dealer at the FUN show in 2015 and was later bought by Anderson.

The note had an estimated value of $150,000 to $250,000 and was sold to a phone bidder. Two notes from the collection were sold for a value less than the estimated range while 12 were sold for a price higher than the estimated range.

Anderson started collecting Treasury notes in the early 2000s. He managed to acquire 13 of the 16 major types. It is one of the top collections of its type, sharing the spot with the collections of Alexandre Vattemare, John J. Ford, Don Kagin, Taylor family and Jim O’Neal. Anderson built his collection mainly from collections of Ford and Taylor.

Image Courtesy: Kagin’s Auctions