(2) CONSECUTIVE FR. 2221-E 1934 $5,000 FEDERAL RESERVE NOTES PMG AU-55 & UNC-63

Description: For sale is a pair of (2) CONSECUTIVE FR. 2221-E 1934 $5,000 FEDERAL RESERVE NOTES PMG AU-55 & PMG UNC-63 UNIQUE REPLACEMENT. This consecutive pair of 1934 $5000's from the Richmond district could very well be one of the most important High Denomination notes this hobby has ever seen. Not because of the sequential order, but because we believe that the second note of this pair is a replacement. Unlike the $1, $5, $10, $20, $50, $100, $500 and $1000 denomination notes, which when a note was damaged it was replaced by a "star" symbol as the suffix. Just because no "star" notes were issued for the $5000 and $10,000, it does not mean that the BEP did not have damaged notes that needed to be replaced. However, since they printed so few of these, it was more cost effective to reissue the same exact serial number of the damaged note at a later time period when the blueish/green seals were being issued. Serial Number E00000077A is seen with a vivid light green seal. This is the correct seal color used for regular issued $5000 and $10,000s. This note has clearly never seen circulation and is seen with a very light center fold. A hint of embossing is still evident through the PMG holder. Serial Number E00000078A is seen with a blue/green seal that is NOT correct for the regular issues $5000 and $10,000. PMG Comments "Previously Mounted' as it appears there are three minor paper pulls on the top and right back margins where it was mounted then removed. The note was never circulated and has completely original embossing, This note in our opinion was never altered in any way. However, we believe with all the information we can gather, that this note is actually a genuine replacement. Our findings include work from Steve M. Sullivan, whom is one of the foremost experts in the High Denomination field has stated in his 2nd Edition book of Small Sized High Denomination Notes on Page 97 " Replacement notes (also known as star notes) are used to replace damaged or defective notes during the inspection process at the Bureau of Engraving and Printing (BEP). If a defective $5000 Federal Reserve Note was found, it would have been replaced with a note from a make-up sheet bearing the same serial number of the defective note." He continues to add on Page 118 "It is important to note that of the four known $5000 and $10,000 replacement notes, one ($1000 S/N B00002257A) was part of the Binion Hoard and was locked behind glass for twenty-five years, and one ($5000 S/N G00000319A) was part of the Bank One Hoard and was stored in a bank vault for just as long. All four notes have identical colored overprints that would not be attributed to fading or chemical alteration. Each note has also been compared to several series 1934 $500 and $1000 FRNs and $5000 and $10,000 FRNs from later print runs that exhibit the identical color (pale blue green) overprint." When both notes are compared side by side, we noticed some other interesting characteristics that have not been mentioned by others and may confirm our opinions. Serial number E00000078A which we believe is the replacement note in question, is considerably shorter in plate and paper size than the non replacement note. We measure a full 1 mm plate size difference. Now, the notes are Position "E" and "F". In theory a 12 subject sheet should have identical plate size. This leads us to believe, that this note was NOT printed on the same sheet. The findings of our research indicate a very good possibility that S/N E00000078A is in fact a replacement note. However, since PMG has not labeled it as such after their review, we can provide our opinion and not represent it in any certain way. We do feel that this area of paper money collecting is under researched and that perhaps this will open the door to new and exciting findings and confirmations. (YS)

Price: 799999.95 USD

Location: Farmville, Virginia

End Time: 2023-12-27T07:15:56.000Z

Shipping Cost: 0 USD