Currency Dealer, Antique Money, Discusses $1,000 Bill from 1891 that Sells for $2.5M at Auction

    NORCROSS, GA, July 31, 2013 /24-7PressRelease/ -- In April of this year, a $1,000 United States Treasury note from 1891 fetched over $2.5 million. This was more than half a million above the price that rare paper currency dealers expected it to get. The bill was sold at the Currency Signature Auction in Schaumburg, Illinois, just outside of Chicago. Leading rare money buyer Antique Money says that the sale set a new world record for a U.S. banknote sold at auction.

A Rare and Historied Note

The note features a portrait of U.S. General George Meade, who led his troops to victory over the Confederate Army at Gettysburg during the Civil War. It is believed to be one of only two in existence. The other is on display at the Smithsonian American History Museum in Washington, D.C.

Sixty years have made a great deal of difference in the value of the note. The last time it sold at auction in 1944, it got only $1,350- just 30% over its face value. The note has had some illustrious owners, including Amon G. Carter Jr., the former publisher of the Fort Worth Star-Telegram newspaper in Texas.

Other Rare $1,000 Notes

Not long after the $2.5 million record was set, an 1890 $1,000 bill, also featuring General Meade, sold for $1.3 million by Heritage Auctions. This bill is known as the "Grand Watermelon" because the zeroes in the numerals on the back side resemble watermelons.

Not all $1,000 bills are going to be worth millions. Old paper money values vary greatly. A lot depends on the rarity of the bill. In 2012, fans of the television show Pawn Stars saw someone bring in a $1,000 note with the image of Alexander Hamilton. The bill, issued in 1918, was estimated to be worth $7,000. About 150 of these were produced.

According to Manning Garrett, the owner of Antique Money, these million dollar payouts are extremely rare. However, he says, "You never know how much a bill is worth to a collector until you have it appraised. You could be in for a pleasant surprise."

Anyone who would like to get an offer from Antique Money on old currency can contact them by e-mail at [email protected] or by phone at (864) 430-4020. For more information on what kinds of currency they buy, or to complete a contact form, visit their website at http://antiquemoney.com.

About Antique Money:
AntiqueMoney.com is the top buyer of old money in the U.S. They specialize in rare bank notes, large size currency and other collectible money. Since they are both collectors and resellers, AntiqueMoney.com is always looking for collectible currency for their inventory and collection. Free appraisals and offers are available to anyone interested in finding the value of and/or selling antique paper money.

For more information, please visit http://www.antiquemoney.com.

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http://www.CardinalWebSolutions.com

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