An extreme highlight and likely to receive the highest bid of the entire collection for a single note (although there are other candidates!). This is an amazing note in many ways. First, let us simply consider it as a type note. Uncirculated notes of this issue are rare. A few pieces in the past have been listed as Uncirculated, but Fred Schwan examined them and considered them to be less than Uncirculated. In any event, this would be great note for a type collection. The note has no obvious claim to be a specimen, but the serial number is in the range that indicates that it was or was intended to be a specimen or it was at least among the stock from which specimens were made. Remember, there is one specimen booklet of this series in private hands. The $5 specimen was torn from that booklet so there is not even a specimen of this note in private hands. Finally, this is a really great replacement. It is the fourth replacement reported in private hands. The other three are Fine and below! This note is likely to break (possibly crush) the auction record for a single Military Payment Certificate. That record is currently $16,000 (Uncirculated regular issue Series 541 $5 from the Marv Mericle collection). A rare and historic opportunity.，From the Paymaster Collection.
