A pair of high-denomination Series 1928 gold certificates highlight a
June 12 sale by a Minnesota auction company of coins and paper money
amassed by three generations of a family of collectors.
Neither of the rare $500 (Friedberg 2407) and $1,000 (F-2408) notes
is third-party graded, but upon examination they will rank among the
The $1,000 note is a new addition to the Track & Price census,
making it only the 60th recorded out of the 28,800 printed. It is the
highest denomination gold certificate that is collectible.
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The $500 note is one of 84 in the census. Government records
indicate that 420,000 of them were printed.
The reason for the low outstanding population of these notes is
Executive Order 6102 issued on April 5, 1933. This order, along with
some other laws, required the surrender of most gold coins and gold
certificates to the government in exchange for a cash payment. The
intent was to eliminate the hoarding of gold in the midst of the Great
Depression. It was not until 1964 that it was once again technically
legal to own gold certificates.
The sale by James Peterson Company LLC will be held at the Shakopee
Knights Event Center, 1760 Fourth Ave. E., Shakopee, Minnesota. For
more information, write James Peterson Company LLC, P.O. Box 24735,
Edina, MN 55424, call the firm at 612-231-5999, or email it at Imauctnr@yahoo.com. Online bidding will be
available at ProxiBid.