Exceedingly Rare 1918 $5 Replacement – The Finest of Two Known

Our Summer Global Showcase Auction is currently posted to for viewing and bidding. Our live session of U.S. paper money offers 659 lots and will take place on Wednesday, August 24. One impressive note from the Boston Proper Collection is lot 20262, a Fr. 781* 1918 $5 Federal Reserve Bank Note in PMG Very Fine 30.

Only two examples are known on this scarce Boston district $5 Federal Reserve Bank Replacement Note. It is the very first and only signature combination for the district (Teehee – Burke – Bullen – Morss). This note has been off the market since 2015, where it realized a staggering $21,150 at auction. It went into a long-term collection, and we expect it find another such home when it crosses the auction block next week. The circulation is mostly even, with this note retaining a dark impression of the primary design. The overprints are still attractive in their navy-blue ink. The reverse displays motifs from the Legal Tender and National Currency era, with Columbus Sighting Land at left and the Landing of the Pilgrims at right. PMG Pop 1/none finer.

 In the following lot (20263), we are offering the other known note, so here is your chance to acquire one or both examples.

We are currently taking consignments for our November Official Auction of the Whitman Expo and our monthly auctions. To consign your U.S. paper money and 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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