New York: Federal Reserve, 1900. An authentic $10,000 U. S. gold certificate (states “payable in gold”). Serial No. M147694 (plate A9). 1900 was the last series of American $10,000 gold certificates (replaced by Federal Reserve Notes in 1918). Obverse portrait of Andrew Jackson, highlights in gold, red seal, 4 full, balanced margins, reverse blank as issued (former owner’s neat signature on back). 3 vertical folding creases else near fine (authenticated, slabbed and graded by PCGS as “very fine 20”). That’s all nice enough, but here’s what’s meaningful. When the government recalled this denomination, each bill was punched with numerous holes and then perforated with a treasury stencil. Ours is unpunched and unstenciled and it’s of redoubtable rarity in this natural state, but since $10,000 gold certificates are no longer legal tender, you can’t take it to the (any) bank and demand your tower of gold coins. Small stamp (“to the order of”) Federal Reserve Bank of NY, dated Aug. 3, 1917. Near fine. Item #326
Reference: Friedberg (1995), page 144, design No. 156, reference No. 1225, stating that there were 3 series of $10,000 gold certificates (all of them printed between 1882 and 1900) consisting of 12 total varieties, and here’s a reality check. Finding one of the other 11 is harder than taking an eel out of a tub of water.
Friedberg’s census, and his analysis that flows from it, clearly states that of the 11 other varieties that were issued, there is one type that he calls “extremely rare” (so much so that he lists no value for it). 7 others are characterized as “unknown” and the other 3 are remarked upon as “all redeemed [with] none outstanding.”.