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Extremely Rare $500 Silver Certificate to be Offered in Spring Showcase Auction

High denomination notes are a sight to behold. From the generic $500 issued under the Series of 1934A to the cancelled $10,000 Gold Certificates saved from the Old Post Office Fire of 1935, these notes enthrall collectors and stupefy members of the general public who are unaware that such notes even existed.

Yet the calculus for high denomination notes is defined by contrasts. A collector would have no issue in finding a generic $500 or $1000 from the Series of 1928 and onward. However, a collector looking to represent a large size example of either of these denominations would need patience to find even a “common” example issued under the Series of 1918.

Finding anything before that and representative of a type that isn’t a Federal Reserve Note becomes even more difficult as most are held in long-term holdings or by government institutions like the Smithsonian Institution.

The $500 Silver Certificate for instance was printed only in limited quantities and used mostly for bulk silver-based transactions, with the result that the overwhelming majority ended up back in the hands of the government and Treasury. Out of 24,000 issued under the Series of 1880 only three have managed to survive to be collected today.

Of those, one will highlight the upcoming Spring Showcase Auction alongside a number of other remarkable rarities from Part I of the Shores Collection. These other rarities include $10 and $20 Silver Certificates issued under the Series of 1878 that feature the penned countersignature of J.C. Hopper, as well as Legal Tender Notes issued under the Series of 1869 that are major conditional rarities.

This $500 note features the portrait of abolitionist and senator from Massachusetts Charles Sumner (1811 – 1874) at right opposite a tapestry of ornate detail. On the verso the word “SILVER” can be seen at center in large letters composed solely of floral elements. The entirety of the back design comes printed in black ink and offers a distinctive composition even by the standards of the period. This item has an estimate of $600,000 to $800,000 and will soon be available for bidding.

For more information about our auctions or to consign your numismatic items, please call 800-458-4646 or email [email protected].

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