SUNDAY,MARCH 24, 2019

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$8 million for rare US bank bills at auction

One of the three rare US paper bills dating back to the 19th century are about to be sold for $8 million when being auctioned in Baltimore. The set includes two bills of $1,000 category;
  • one from 1869
  • another from 1891
  • $500 note from 1869
Auction house Stack's Bowers says, a $1,000 bill is one of just two of its kind from 1891. The portrait of a former governor of New York & Secretary of State called William L. Marcy is featured by "Marcy note" estimated between $2 & $3 million. The bill has highest price ever paid for a piece of paper money after being sold for for $2.6 million in 2013.

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"Notes from the 1860s have been given the 'rainbow' moniker because other notes of the time were relatively monochromatic. On these notes you have a little bit more color. When they made the paper, they interspersed into the note a series of fibers of blue and other colors, as an anti-counterfeiting measure", vice president of Numismatics at Galleries of Vicken Yegparian told CNN.

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The same estimate has been handed to a $1,000 note that completes the trio of ultra-rare bills featured a portrait of DeWitt Clinton was last sold in 1946for $1,200 -- equivalent to around $15,500 today.
"A once-in-a-lifetime opportunity. Part of the magic of collecting is the acquisition of the notes. (Anderson) had a goal -- he wanted to build the finest collection of US paper currency. Now, he's decided it's time to let the next generation of collectors enjoy this collection", Yegparian said.
 

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