Rare Dallas 1918 $500 Federal Reserve Note

Our official United States Currency auction for the ANA
World’s Fair of Money will feature a 1918 $500 Federal Reserve Note, Fr. 1132-K
from the Dallas district. It is graded PMG Choice Extremely Fine 45 EPQ.

Just five of these 1918 $500 Federal Reserve Notes are known
to survive from the Dallas district. Four of the notes, including this one, are
from a consecutive run, while another single note is reported as well. The four
consecutive notes are serial numbers K2717A through this note, K2720A, and all
are reported to be in the Extremely Fine grade range. The example in our August
auction features bright paper, bold inks and plentiful margins.

The sharply detailed portrait of Chief Justice John Marshall
at center is flanked by the engraved signatures of Treasury officials John
Burke and Carter Glass. The back shows De Soto Discovering the Mississippi, an
engraving by Frederick Girsch. This is a trimmed and slightly altered version
of the same engraving used for the back of $10 National Bank Notes, Original
Series and Series of 1875, now with no credit to the American Bank Note
Company. While these high denomination 1918 FRNs are typically collected as a
type note, advanced collectors are beginning to recognize and appreciate the
rarity of tougher to locate district varieties. This is unquestionably a true
statistical rarity as a Friedberg number variety and one that would be a fine
addition to any collection.

The Stack’s Bowers Galleries August ANA auction will be
posted to our website for bidding within the next week. To consign your U.S.
paper money & world paper money to a future sale, contact a consignment
specialist at 800-458-4646 or visit For more information on
viewing lots or for assistance in registering to bid, email your inquiry to:
[email protected].

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