Lot 3336
1950-D, $100 Federal Reserve Note. PMG Gem New 65. . Fr-2161-H. The 1950 series Federal Reserve Notes still referred to payment "on demand" of ONE HUNDRED DOLLARS but no mention is made of exactly what the payment is to be made in. Pre-1933, it stated gold or silver specie, with the unstated specie base upon written laws of a specific weight in metal. After 1933, the payment method became a nebulous term. Today, any piece of paper officially imprinted by the Federal Reserve as such constitutes "dollars" -- much to the profit of the government issuer, but also to the confusion of the marketplace and industry who has to deal with a fiat standard. It is as if a standard wooden yardstick were made of rubber that could stretch or shrink (usually shrink) at the will of the yardstick-issuing authority! So much for a lesson in $100 bill economics. This is a fresh bright Gem.
Estimated Value $200 - 250.
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| Realized $219 |
