Issued in 1934, the Federal Reserve note was certified by Paper Money Guaranty and was Exceptional Paper Quality graded, according to Dallas-based auction house Heritage Auctions. The Boston note, which features the face of President Lincoln’s Secretary of the Treasury, Salmon P. Chase, topped the house’s Long Beach Expo currency auction after selling for the record-breaking figure on Friday.
” The $10,000 bill was the highest denomination note to ever circulate publicly — with the $100,000 bill only used to transfer funds between Federal Reserve banks, according to the Museum of American Finance website. However, the particular note that was auctioned was never in circulation, according to Heritage Auctions. Due to lack of use, currency notes in denominations of $500 or higher were discontinued in 1969, according to the US Bureau of Engraving & Printing website.
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