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Perakis Nabs Two of Three Heritage Notes
By Numismatic News
May 07, 2013

This article was originally printed in Numismatic News.
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Three notes sold for a combined $6.18 million April 26 at a paper money auction conducted by Heritage at the Central States Numismatic Society convention.

Topping the three was a $2,585,000 price achieved by an 1891 $1,000 Treasury Note graded EF 45PPQ by PCGS Currency.

Also called a Coin Note because of its promise to pay “in coin,” the note is the only known example outside of the Smithsonian Institution.

This price and others include a 17.5 percent buyer’s fee.

Next highest price was $2,115,000 million for a $100 1863 Gold Certificate that PCGS Currency calls Apparent EF 40.

Third note on the list of prices realized was an 1890 $1,000 Treasury Note graded Apparent EF 45. It fetched $1.527,500 million.

Winning bidder on the top two notes was paper money dealer Steve Perakis of Lima, Pa. He represented an anonymous buyer.

“The customer wants to keep a low profile,” Perakis said. He called the buyer “a very serious, very dedicated collector.”

The notes “are going to be put away for a long time. He is very happy with the purchases. He is in it for the long haul.”

Overall, the Heritage paper money auction accounted for over $15 million of Heritage’s $69 million week of sales events.



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