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1900 $10,000 Gold Certificate
[[Image:Example.jpg]]

$10,000 Gold Certificate
Country of production United States
Location of production BEP Washington D.C. Facility
Date of production 1900
Nature of rarity Bank and Clearing House Useage
Estimated existence unknown/disputed (300-1000)
Face value $10,000
Estimated value US$1,000 - $7,000+

The 1900 $10,000 Gold Certificate is a type of US Currency used almost exclusively in fiscal transactions between banks and the United States Treasury. All examples were canceled and redeemed. However some examples were unintentionally thrown out of a US Treasury building in 1935 due to a fire. Today they are collected by paper money collectors as novelties, despite their non-legal tender status.

Contents

[edit] Design

Andrew Jackson is portrayed to the left, and an ornate 10,000 to the right. The center portion reads out as follows:

IT IS HEREBY CERTIFIED THAT TEN THOUSAND DOLLARS Have been Deposited with The Assistant Treasurer OF THE United States Payable in GOLD at his Office, to the order of _____________________________

The Gold Standard Act of March 14, 1900 is referenced above Jackson's portrait. An ornate frame consisting of 10000, Gold Certificate and X cover 3/4ths of the border.

The Reverse of the note is blank; on some examples, a punch cancellation of PAYABLE ONLY TO THE TREASURER OF THE US OR A FEDERAL RESERVE BANK and/or signatures of treasury or bank officials can been seen.

[edit] Useage

Most of the notes were used in finacial transactions between banks and other financial clearing houses. Some notes show redemption by the Federal Reserve Board.

[edit] 1935 Fire

Numerous variations of the account have existed over the years, but the following incorporates most of the common details usually mentioned in retellings of the story.

On December 12th, 1935, a fire broke out at a United States Treasury Facility.[a] In an effort to help stop the spread of the fire, firefighters threw boxes out onto the street.[b] One or possibly more of the boxes contained cancelled and redeemed Series 1900 $10,000 Gold Certificates that hadn't been destroyed by the US Treasury.[c] Passerbys grabbed the notes as the notes fluttered in the air, and many were taken.

This act supposedly accounts for surviving examples in collector hands today.[d] While technically illegal to own, as they are "stolen property", due to their non-legal tender status, the US Goverment has refused to prosecute individuals holding such notes in their possession. This is the only example of "circulating" U.S. currency that is not an obligation of the government, and thus not worth the full face value.

Existing examples sometimes show water stains and burn marks, evidence of the fire in the Treasury Building.

[edit] Collectability

While not retaining a full face value, the notes have garnered collectability on the secondary market. Prices for the notes range in the thousands, with a damaged specimen going for around $2,000 for a low end example, with higher quality examples going for over $7,000.

[edit] Notes

  • a. ^  Various numismatic literature and experts have told several variations of the location over the years, ranging from a fire at the US Treasury Building proper, to an offsite Treasury storage facility.
  • b. ^  Some accounts mention Treasury employees throwing out boxes.
  • c. ^ There is no clear consensus by both numismatic literature and experts if there were more than one box that held certificates.
  • d. ^  It is not 100% clear if surviving examples can be attributed to the fire.

[edit] References

[edit] Further Reading

[[Category:Paper money of the United States]]

DYK

...surviving examples of the 1900 $10,000 Gold Certificate owe their existance due to a fire in 1935?