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$10,000 bill from the Great Depression sold at auction for $480,000

Change worth $10,000 is already quite impressive: it’s a much larger sum than most people will have in their hands in their lifetime.

A rare $10,000 bank reserve note from 1934, however, turned out to be worth even more when it was sold at auction this month; $470,000 more, to be exact.

The Great Depression note was sold in Dallas at the Long Beach Expo U.S. Coin Auction hosted by Heritage Auctions. It features a portrait not of a president, like most of our money today, but of President Lincoln’s Secretary of the Treasury, Salmon P. Chase.

According to the Museum of American Finance, the $10,000 mark was the highest denomination ever put into public circulation in the United States, because the largest $100,000 bill that existed at one time was only used for transfers between Federal Reserve banks and was not available to consumers.

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An “absolute price”

The bill was graded by Paper Money Guaranty (PMG), a third-party organization specializing in the grading and certification of paper money, and was found to be in the best possible condition, according to a press release from Heritage Auctions . This specific example never circulated after being minted, which may explain its impeccable condition.

USA Today

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