Paper Money

Heritage paper money auction at Long Beach realizes $4m-plus

The only known serial number 1 Series 1929 $10 note for the First National Bank of Tonopah (Nevada) sold for $38,187.50 during the Heritage Auctions Long Beach Expo Currency Signature Auction Sept. 4. The price includes the buyer’s fee. 

The auction realized a total of $4,069,434.

The Nevada national bank note was graded Extremely Fine 40 Premium Paper Quality by PCGS Currency. 

This was the first time the note was offered for sale in more than 40 years. 

Also realizing the same price was a Series 1914 $10 Federal Reserve note, Friedberg 893b (Paper Money of the United States by Arthur L. and Ira S. Friedberg). The note was graded by PCGS Currency as Superb Gem New 67 Premium Paper Quality. The note had been off the market since the consignor bought the note in 1999, according to the catalog.

Another highlight was the sale of a Series 1902, Plain Back $5 note for the First National Bank of Sierra Madre (California) for $35,250. The note was graded Very Fine 25 by PCGS Currency.

The note is considered only the second note recorded from this bank and the finer of the two.

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