Thursday, July 9, 2009

$1000 Federal Reserve Note - 1934


1934 $1000 Federal Reserve Note displaying serial number F00018616A with signatures of Julian and Morgenthau. Fr# 2211-F. Plate# J1/3. From the district of Atlanta, GA. Graded 66 EPQ (exceptional paper quality) by PMG. A bold example fully intact with dark inks, nice margins and prominent green seal. POP 3 and we have 2 of the 3! Look for the sequential note in our listings. No. 99 of the top 100 Greatest American Currency notes. Small-size notes of the $1000 denomination, depicting Grover Cleveland, commenced with the Series of 1928 and continued to include the Series of 1934 and 1934-A. The 1928 Gold Certificated is of related design and is No. 76. in the top 100 Greatest American Currency Notes. Without particular regard to the series, collectors eagerly seek these bills, last printed in 1940s. Thousands of examples exist, making them a stock-in-trade item for paper money dealers. Ever once in a while a cache comes on the market from some long-hidden private stash, or from overseas. In the late 1990s, a group of nearly 2000 notes, mostly in grades of VF and EF, was offered, said to have been found in Russia. Early in the 21st century a holding of 100 notes, mostly About Uncirculated, was sold ( some were improved and later marketed as choice Uncirculated examples). The various series can be collected by Federal Reserve Bank locations, but only the Series of 1928 is complete with all 12 banks: Boston (letter A designation), consecutively through New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco, the last using the letter L. Generally, the Federal Reserve districts with lower populations issued fewer notes. Accordingly, bills imprinted Boston, New York, Philadelphia, or Chicago are likely to be more available than those from Atlanta and Minneapolis. Although these high denomination notes were available to anyone who wanted them, they were not, as a matter of practice, to be found in ordinary circulation. They were held mainly by banks and clearing houses and were used to settle large cash balances.