A highly graded 1869 Legal Tender “Rainbow” banknote is expected to realize more than $175,000 USD ($221,500 Cdn.) at the Currency Signature Auction hosted by Heritage Auctions this April 27-May 2.
The auction – held in conjunction with the Central States Numismatic Society’s 77th Anniversary Convention – will take place at the Renaissance Schaumburg Convention Center Hotel in Schaumburg, Ill.
The $50 “Rainbow” note, Lot #18813, is graded About Uncirculated-55 by Paper Money Guaranty (PMG). It’s one of only 64 examples enumerated in the track and price census, according to Dustin Johnston, director of rare currency at Heritage Auctions.
Other highlights include Lot #18916, a popular 1890 “Watermelon” $100 treasury note. In PMG Very Fine-25, the note is expected to sell for more than $150,000 USD ($190,000 Cdn.).
Lot #19166, a “beautifully and broadly margined” 1934 $5,000 Federal Reserve note, was also given an estimate of $150,000 USD. It’s offered in PMG Choice Uncirculated-64.
Another highlight is Lot #19165, a 1934 $5,000 Federal Reserve note in PMG Choice Extremely Fine-45. One of only five known examples from the St. Louis District, this note has a pre-sale estimate of $115,000-$125,000 USD ($145,500-$158,000 Cdn.).
Rounding out the highlights is Lot #18893, an 1886 $20 silver certificate in PMG Extremely Fine-40. It has a pre-sale estimate of about $60,000 USD ($76,000 Cdn.).