Lot 5025
1914, $10 Red Seal. Federal Reserve Note. . Fr-900a. PCGS graded Very Choice New 64 PPQ. Minneapolis is the smallest of all the Federal Reserve districts and this treasure is among the finest extant. When the U.S. government established the Federal Reserve system in 1913, it took until the end of 1914 to complete the building of and staffing of the 12 district banks. One reason that the U.S. government closed the New York Stock Market for six months starting in the summer of 1914 was to insure that the gold supply intended to be put on deposit as backing for these Federal Reserve Notes was on hand at the banks when they opened. The fear was the Europeans, in the opening months of The Great War, would drain the nation of its gold.
Estimated Value $7,000 - 8,000.
|
| |
| Realized $6,670 |
