Fr. 1132-G. 1918 $500 Federal Reserve Note. Chicago. PMG Very Fine 30.

Desirable $500 Federal Reserve Note Issued under the Series of 1918 Fr. 1132-G. 1918 $500 Federal Reserve Note. Chicago. PMG Very Fine 30. Even though $500 Federal Reserve Notes issued under the Series of 1918 can be seen with some regularity at auction, it takes little to reason that they still represent a rare entry in the numismatic canon owing to the significant sum the denomination represented and a fairly limited issue across the various Federal Reserve Banks. This particular example shows evidence of technical circulation consistent with the middle of the grading spectrum that was likely the result of being handled by countless bank tellers or used in large transactions conducted in the smoke-filled room of a hotel in Atlantic City or traded as part of an illicit payment made by some Prohibition-era liquor racket in Detroit. Regardless of how this note circulated, it remains a representative of a rare denomination and a distinctive composition that seemingly melded the new with the old. A portrait of Chief Justice John Marshall can be observed at center on the face in an arrangement typical of the period while an adaptation of William Henry Powell's 1853 painting DeSoto Discovering the Mississippi that was previously used on the $10 National Bank Note until the Series of 1875 was finally retired assumes a dominant position on the back. Even more remarkable is that this note has been graded without comment by PMG as similar examples at this level of preservation often warrant a comment in the vein of "Minor Repairs" making this a prize to be had for the collector looking to acquire a fairly rare iteration of this ever-popular denomination that was finally discontinued in 1945. Estimate: $20,000 - $30,000. Click here for certification details from PMG.

Estimate:£8,991.78

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