More than 600 lots were offered during the Stack’s Bowers Galleries Collectors Choice Online Auction for U.S. Currency in mid-December.

For those in the market for high denomination notes, Stack’s Bowers had 16 $1,000 notes and 14 $500 notes in the offering.

With one exception, the sale’s 15 highest prices realized were high denomination notes, each bringing more than $4,000. The lone exception in the elite group was a Friedberg 1929-K Series 2003 $1 Federal Reserve note with serial number 1 from the Dallas district. It was graded PCGS Banknote Superb Gem 67 Premium Paper Quality. It eclipsed pre-sale estimates, bringing $5,520.

At the top of the list was a Friedberg 2202-F Series 1934A $500 Federal Reserve note for the Atlanta district. This note was graded PCGS Banknote Gem Uncirculated 66 PPQ and realized $10,200, the only note to break into five figures. Stack’s Bowers noted “From the crispiness of frame-like margins to the sharp distinction of the blueish-green overprint laid upon original and attractive paper, the technical and aesthetic qualities of this $500 Federal Reserve Note from the Atlanta district are utterly sublime and stand deserving of both attention and avid consideration.” The PCGS Banknote population report shows two at this grade with none finer.

In a four-way tie for second highest sale price at $7,800, all notes of Series 1934A (including one $1,000 note from Atlanta), the pictured Friedberg 2202-F $500 note was just one step below the highest priced note in grade, at Gem Uncirculated 65 PPQ. This note had its own attributes that made it an outstanding contender among many top graded notes.

According to the 23rd edition of Paper Money of the United States by Arthur L. and Ira S. Friedberg, all Series 1934A $500 notes are mules. A mule note is created when only one plate is changed instead of both plates.

The auction was the final paper money auction for 2024 for Stack’s Bowers Galleries. More than 10,000 U.S. notes were sold by the firm throughout the calendar year. That figure was eclipsed by the number of world notes brought to auction — 18,112 notes were sold in the classification of world paper money in 2024.

World paper money will be featured in numerous sessions during Stack’s Bowers Galleries auctions as part of the New York International Numismatic Convention Jan. 17 through 23, 2025.

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