Friedberg 1225h (W-5540). 1900 $10,000 Gold Certificate. PCGS Currency Very Choice New 64 PPQ.Series of 1900 $10,000 Gold Certificates were not intended for use by the public in general commerce but were reserved for use by financial institutions. Most if not all had been redeemed and cancelled by the 1930s. On December 13, 1935, a fire raged at the United States Post Office at 13th Street and Pennsylvania Avenue in Washington D.C. where these notes were being stored along with other documents and files. In an effort to save items from the fire, boxes and cabinets were emptied onto the streets below with hundreds if not more of these ultra-high denomination Gold Certificates raining down on the crowds of onlookers who eagerly gathered them up. Today the number of known examples is likely in the 400 to 500 range. Most are in circulated condition, punch cancelled and display varying degrees of water stains or fire damage. pThe type is uniface with the portrait of Andrew Jackson at left. A large 10,000 die counter is at right. At top center is "GOLD" in large golden letters. A red scalloped Treasury Seal is to the lower right of center. Blue printed serial numbers are found within golden serial number panels at lower left and upper right. The engraved signatures of Treasury officials Teehee and Burke are stacked in the bottom right corner. The type features various "payable" institutions filled in near bottom center. The present example was payable to the Federal Reserve Board in Washington. pThe presently offered note is essentially as nice as they come with wonderfully fresh paper that is free of the impairments that are so often found on notes of this type. The face is fully framed and boldly printed. The overprint inks are vibrant and well presented. Like most, this note is "roulette" punch cancelled at left and center. This is one of the few examples of the type that earned PCGS Currencys PPQ designation. In fact the service has graded just one other example of the type finer with that designation. Few types match this note in terms of visual appeal. These notes remain an excellent value with nearly all being secured for less than "face value."pFrom Lyn Knights sale of February 2000, lot 626.
