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1934 $5,000 Federal Reserve Note, PMG Choice Uncirculated 64 EPQ
- This 1934 $5,000 Federal Reserve Note is one of the very few examples of its kind known to survive
- Graded PMG Choice Uncirculated 64 EPQ, it is among the finest known examples of its issue
- First issued during the Civil War, high-denomination Federal Reserve Notes were discontinued in 1969
- Today, high-denomination currency such as this is among the most coveted rarities in American paper money
- Get complete item description here
$398,500
Item No.
32-2960
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Description
1934 $5,000 Federal Reserve Note, PMG Choice Uncirculated 64 EPQ
Chicago, Illinois
Fr. 2221-G
Serial no. G00001176A
This extraordinary 1934 $5,000 Federal Reserve Note is one of the rarest denominations in American currency and one of the finest known examples of its issue. Graded PMG Choice Uncirculated 64 EPQ, no example of this Chicago issue has received a higher grade. Its coveted Exceptional Paper Quality designation further indicates that the note retains its original,. . .
Chicago, Illinois
Fr. 2221-G
Serial no. G00001176A
This extraordinary 1934 $5,000 Federal Reserve Note is one of the rarest denominations in American currency and one of the finest known examples of its issue. Graded PMG Choice Uncirculated 64 EPQ, no example of this Chicago issue has received a higher grade. Its coveted Exceptional Paper Quality designation further indicates that the note retains its original,. . .
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1934 $5,000 Federal Reserve Note, PMG Choice Uncirculated 64 EPQ
Chicago, Illinois
Fr. 2221-G
Serial no. G00001176A
This extraordinary 1934 $5,000 Federal Reserve Note is one of the rarest denominations in American currency and one of the finest known examples of its issue. Graded PMG Choice Uncirculated 64 EPQ, no example of this Chicago issue has received a higher grade. Its coveted Exceptional Paper Quality designation further indicates that the note retains its original, unrestored paper—an exceptional distinction for currency of this age and denomination.
Even rarer than the $10,000 note, relatively few $5,000 bills were ever held by the public due to their immense purchasing power. Five thousand dollars in 1934 was approximately ten times the average annual U.S. income. As a result, just 2,400 of these notes were issued, and nearly all were subsequently redeemed and destroyed by the Federal Reserve. The present example is the finest known survivor.
Large-denomination currency first emerged in the United States in the late 18th century, with the first $500 note issued in North Carolina in 1780. They were generally issued during periods of war, including the War of 1812, the Civil War and World War I. The last series of high-denomination Federal Reserve Notes was printed in 1934, and the present example is part of this series, which was discontinued in 1945. Today, it is a highly coveted rarity that far exceeds its face value.
Chicago, Illinois
Fr. 2221-G
Serial no. G00001176A
This extraordinary 1934 $5,000 Federal Reserve Note is one of the rarest denominations in American currency and one of the finest known examples of its issue. Graded PMG Choice Uncirculated 64 EPQ, no example of this Chicago issue has received a higher grade. Its coveted Exceptional Paper Quality designation further indicates that the note retains its original, unrestored paper—an exceptional distinction for currency of this age and denomination.
Even rarer than the $10,000 note, relatively few $5,000 bills were ever held by the public due to their immense purchasing power. Five thousand dollars in 1934 was approximately ten times the average annual U.S. income. As a result, just 2,400 of these notes were issued, and nearly all were subsequently redeemed and destroyed by the Federal Reserve. The present example is the finest known survivor.
Large-denomination currency first emerged in the United States in the late 18th century, with the first $500 note issued in North Carolina in 1780. They were generally issued during periods of war, including the War of 1812, the Civil War and World War I. The last series of high-denomination Federal Reserve Notes was printed in 1934, and the present example is part of this series, which was discontinued in 1945. Today, it is a highly coveted rarity that far exceeds its face value.
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Specifications
| Period: | 20th Century |
| Origin: | America |
| Type: | Banks |
Buy With Confidence
For over a century, we've placed important art, rare jewels and exceptional objects with more than 14,000 collectors worldwide, and have been recognized by trusted publications including Robb Report, The New York Times, Wall Street Journal and more.
On Approval
Examine select works in person before you commit
125% Guarantee
Full credit plus 5% annual appreciation for five years
Trusted Expertise
Over two centuries of combined experience across our specialists
