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GREENVILLE, SC, February 02, 2015 /24-7PressRelease/ -- A small portion of the population knows that $500 and $1,000 bills were issued by the US government during the great depression. A much smaller portion of the population might have even seen some of these high denominations back before they were removed from circulation starting in 1969. As scarce as $500 and $1,000 bills are, $10,000 bills are hundreds of times rarer.
Manifest Auctions in Greenville, SC is auctioning a 1934 $10,000 bill on February 28th. Only around 60,000 of these were ever even printed. It is currently thought that only about 200 still exist. "Since they are federal currency, you could still spend one for $10,000 if you wanted to" says Manning Garrett, president of Manifest Auctions. "The specimen we are offering is expected to sell for between $120,000 and $180,000."
In 1940 the average American home was only worth about $3,000. $10,000 bills were mostly kept by banks and very wealthy individuals. Most of the ones that still survive today come from The Million Dollar Horseshoe that was at Binion's Casino in Las Vegas. It contained 100 1934 $10,000. The Million Dollar display was a tourist attraction for decades until it was disassembled in 2000 and the $10,000 banknotes were sold to collectors.
"We hold regular currency auctions and have seen lots of everything. However, a $10,000 bill still gets my blood pumping" Garrett said when asked about the importance of such a significant offering. Garrett advised that the types of people who buy such high end items aren't necessarily currency collectors or even Americans. The demand for exotic and truly rare memorabilia is as high as it has ever been and non-traditional buyers are snapping up the best of the best when it is available.
Want To Learn More?
You can contact Manifest at Info@ManifestAuctions.com to learn how to bid or consign.
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