High-denomination Federal Reserve Notes certified by PMG led the way in a recent Heritage Auctions sale, with the top four lots combining to realize more than $1 million. The very top lot — a Boston note — was among more than 1,100 PMG-certified notes offered in Heritage’s CSNS US Currency Signature Auction, which ended on May 2, 2025.
The 1934 $10,000 Federal Reserve Note (Boston) graded PMG 64 Choice Uncirculated EPQ (lot 21758) realized an impressive $372,000. The PMG Population Report lists 19 examples of this note from Boston, with only one graded higher than the example in this auction. High-denomination notes like these were typically used for transactions between financial institutions and they remain legal currency; enthusiastic interest for them in the paper money collecting community means they can be worth many times their face value, depending on rarity and grade.
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Other PMG-certified highlights in the auction included:
- a 1928 $5,000 Federal Reserve Note (Boston) graded PMG 58 Choice About Uncirculated (lot 21753), which realized $288,000
- a 1934 $5,000 Federal Reserve Note (Richmond) graded PMG 63 Choice Uncirculated (lot 21756), which realized $240,000
- a 1928 $5,000 Federal Reserve Note (Atlanta) graded PMG 45 Choice Extremely Fine (lot 21755), which realized $216,000
- a San Francisco, First National Gold Bank 1870 $50 graded PMG 12 Fine (lot 20201), which realized $180,000
- an 1880 $1,000 Legal Tender graded PMG 30 Very Fine NET (lot 21547), which realized $180,000
- a 1928 $5,000 Federal Reserve Note (Cleveland) graded PMG 25 Very Fine (lot 21754), which realized $168,000
- a 1934 $10,000 Federal Reserve Note (St. Louis) graded PMG 40 Extremely Fine (lot 21760), which realized $168,000
- a 1934 $10,000 Federal Reserve Note (Atlanta) graded PMG 30 Very Fine (lot 21759), which realized $156,000
- a 1934 $5,000 Federal Reserve Note (Richmond) graded PMG 25 Very Fine (lot 21757), which realized $144,000
- a Cincinnati, Ohio 1875 $100 National Bank Note graded PMG 55 About Uncirculated (lot 20505), which realized $120,000
