By Paul Fraser Collectibles on April 29, 2013
The unique 1891 $1,000 Treasury note is now the most valuable US banknote
The only known example of the 1891 $1,000 Treasury note in private hands has set a new world record for a US banknote at auction, leading Heritage Auctions‘ April 24-26 & 28 Currency Signature Auction in Chicago.
The note’s vignette depicts General Meade, ‘a damned old goggle-eyed snapping turtle’
The note’s provenance includes some of the most prominent names in US currency collecting, further increasing its desirability for those prepared to make a bid. Starting it $1.2m, it quickly rose past its expected sale price of $2m to sell for $2.5m – a 29.2% increase.
The only other example has been housed in the National Numismatic Collection of the Smithsonian Institution since it was transferred there by the treasury department shortly after printing.
Like the Grand Watermelon, the 1891 note features a striking vignette of General Meade, who is noted for taking control of the Army of the Potomac on the eve of the US civil war’s Battle of Gettysburg. He was once described as “a damned old goggle-eyed snapping turtle” and was renowned for his bad temper, which the engraver has certainly portrayed on the note.
Read more http://www.coinweek.com/currency/currency-auctions/1891-1000-treasury-note-achieves-2-5m-auction-record-at-heritage/