
Andrew Clemente

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PMG Notes

PMG Notes

PMG Notes

Heritage Auctions / HA.com

Heritage Auctions / HA.com

Heritage Auctions / HA.com

Heritage Auctions / HA.com

Heritage Auctions / HA.com

Heritage Auctions / HA.com

Heritage Auctions / HA.com

Coin Works

Heritage Auctions / HA.com

Heritage Auctions, HA.com

Heritage Auctions, HA.com
















15 Old Paper Bills That Look Ordinary but Sold for a Fortune
Most old paper money is worth exactly what it says on the front. Then there are the exceptions. The right serial number, a bizarre printing error, an almost nonexistent survival rate, or simply being one of the most important examples ever printed can turn an ordinary-looking piece of paper into a six- or seven-figure collectible.
And that may be the best part: some of these bills really do not look like they should be worth a small fortune. This list includes historic American currency, incredibly rare notes from around the world, and even a $20 bill with a banana sticker stuck to it. Every one of these 15 notes has topped $100,000 at a documented sale. We’re starting with the “cheap” one at around $125,000 and working our way up to a banknote that sold for more than $3 million.
China's 1909 Ooi-Long 1 Yuan Note: About $125,000
One yuan does not sound like the beginning of a six-figure story, but collectors are not paying for the denomination here. The Kwangsi Bank's 1909 "Ooi-Long," better known as the "Black Dragon" note, sold for roughly $125,000 in a Spink auction, according to a later Stack's Bowers catalog description of the rarity.
The nickname makes sense once you see it: two black dragons flank a Kwangsi silver dollar on the face of the note. Stack's Bowers said the issue circulated for only about two years before being recalled and described the example it offered as the only one then graded by PMG. With something this scarce, surviving at all is what matters. A public-domain image of the design is available through Wikimedia Commons.
Palestine 1927 £100 Note: $219,600
This 1927 Palestine Currency Board £100 note already had rarity on its side. Then came an origin story that sounds almost too good to be true. The Prefix A note, graded PMG Choice Fine 15, sold for $219,600 at a Stack's Bowers Galleries auction on May 6, 2026.
PMG reported that the note had turned up in an anonymous donation to an Oxfam charity store in England in 2020. By 2026, it was described as only the fourth known example of the denomination in private hands and the only one listed in PMG's Population Report. It had also sold in 2022, but the $219,600 result is the newer verified sale. Not bad for something that was once sitting in a charity donation.
China 1951 5,000 Yuan Shepherd Note: About $232,500
A shepherd, a flock of sheep, and a 5,000-yuan denomination helped make this 1951 Chinese banknote one of the standouts of a 2022 Spink sale. The People's Republic of China note, graded PMG Choice Very Fine 35 EPQ, realized more than HK$1.8 million, or about $232,500 at the exchange rate cited by PMG.
Its condition helped separate it from the pack. PMG said it was the only example of its catalog number among 85 notes then recorded in its Population Report to earn the Exceptional Paper Quality designation. First Series Renminbi notes can be highly collectible, but the six-figure price belongs to this particular variety and grade. Another 5,000-yuan note that looks similar could be worth dramatically less.
Zanzibar 1920 500 Rupees: $288,000
Old banknotes from Zanzibar are scarce enough to get serious collectors excited, and this one was near the top of the food chain. A 1920 Zanzibar 500 Rupees note graded PMG Choice Very Fine 35 sold for $288,000 at a Spink auction in January 2022.
The 500-rupee bill was the largest denomination in the Zanzibar Rupee series, which PMG says was issued by the British protectorate from 1908 through 1935. Its design is memorable too, with a dhow on the water and workers harvesting cloves. The sale price includes the buyer's premium and applies to this specific graded note. As with most rare currency, the exact issue, condition, and number of survivors can make an enormous difference.
Canada's 1911 $500 Queen Mary Note: $322,000
If you have ever been tempted to clean out a pile of old books and papers without looking through them first, this story may change your mind. A 1911 Dominion of Canada $500 note featuring Queen Mary sold for $322,000 at Heritage Auctions on September 17, 2008. The DC-19 note was graded PMG Very Fine 20.
Heritage said only three issued examples were known at the time. Even better, the consignor had originally found this one tucked inside an old book, then rediscovered it years later among papers headed for the shredder. The issued Queen Mary note should not be confused with specimen versions, which have sold for much less. In rare currency, seemingly tiny differences can translate into hundreds of thousands of dollars.
1996 $20 Del Monte Error Note: $396,000
Finally, a bill you might actually expect to see coming out of an ATM. The famous 1996 "Del Monte Note" looks like an ordinary $20 bill until you notice the banana sticker printed right into the design. Heritage Auctions sold it for an astonishing $396,000 on January 22, 2021. It was graded PMG Choice Uncirculated 64 EPQ.
A Del Monte Ecuador banana sticker somehow became stuck to the note before the final printing stage, causing part of the Treasury seal and a serial number to be printed over it. Even stranger, nobody caught the mistake before the bill entered circulation. Heritage said a college student received it during an ATM withdrawal in 2004. Unfortunately, this does not mean your stack of ordinary 1996 twenties is secretly worth a fortune.
1928 $10,000 Federal Reserve Note: $504,000
Yes, the United States really did print $10,000 bills, and surviving examples can still be legally owned by collectors. This Series 1928 Richmond Federal Reserve Note, graded PMG Choice About Uncirculated 58, sold for $504,000 at Heritage Auctions in October 2022.
The reason it brought half a million dollars becomes clearer when you look at how few are left. Heritage reported only 10 documented Series 1928 $10,000 notes across all Federal Reserve districts at the time. Two were in museum collections, leaving just eight available to collectors. Series 1934 $10,000 notes are better known, but this earlier issue is much scarcer. As always at this level, the series, district, grade, and individual history of the note matter enormously.
1878 $100 Silver Certificate: $540,000
From $100 to $540,000 is quite the return, even if it took more than a century to get there. This 1878 $100 Silver Certificate sold for $540,000 at Heritage Auctions on January 11, 2019. The Fr. 337b note was graded PCGS Very Fine 35 and, according to Heritage, was the finest of only four known examples of that Friedberg number at the time.
And collectors effectively had even fewer choices than that. Two of the four known notes were already in government hands, including one at the Smithsonian and another at the Federal Reserve Bank of San Francisco. Heritage noted that the auctioned example had restoration in its lower-right corner, but extreme rarity was more than enough to keep the bidding going. With notes like this, the exact catalog variety matters much more than simply spotting the right year and denomination.
1928 $5,000 Federal Reserve Note: $780,000
A $5,000 bill is unusual enough on its own. A $5,000 bill in this kind of condition is something else entirely. This Series 1928 Richmond Federal Reserve Note, graded PMG Gem Uncirculated 65 EPQ, sold for $780,000 at Heritage Auctions on September 13, 2024.
The grade is a huge part of that price. Heritage said PMG had graded 22 Series 1928 $5,000 notes from all Federal Reserve districts at the time, and this one stood alone as the finest example in the population report. So no, finding just any old $5,000 bill does not automatically mean a $780,000 payday. District, series, condition, and originality can completely change what collectors are willing to pay.
1878 $5,000 Legal Tender Specimen: $805,000
This one needs an asterisk right away: it is not an ordinary $5,000 bill that once bounced around in somebody's wallet. It is an 1878 Legal Tender specimen that was furnished to the Chinese government. Heritage Auctions sold it for $805,000 in September 2007. The Fr. 188 note was graded PMG Very Fine 25.
Heritage described it as the only surviving example of the design and the only large-size $5,000 note of any issue available to collectors. It was printed on genuine currency paper and printed on both sides, but stars appear where normal serial numbers would be, and the note carries presentation markings. In other words, this was a truly unusual piece of U.S. currency history long before someone paid more than $800,000 for it.
1882 $500 Gold Certificate: $1.41 Million
Here is where the prices jump from "expensive house" territory into full-blown millionaire money. This 1882 $500 Gold Certificate sold for $1.41 million at Heritage Auctions on January 10, 2014. The Fr. 1215d note was graded PCGS Very Fine 35, with its bold red seal still helping the old design stand out.
Heritage described the note as unique in collectors' hands at the time. Before it surfaced, the only known example of this particular Friedberg number was sitting in a Federal Reserve collection. That kind of rarity is why finding an old $500 Gold Certificate is not enough by itself to guarantee seven figures. The exact signatures, catalog number, grade, originality, and number of known survivors can change everything.
Australia's 1913 Number One Ten-Shilling Note: $1.909 Million
If any serial number was going to get collectors' attention, M000001 would probably do it. Australia's first Commonwealth banknote was hand-numbered during an official ceremony on May 1, 1913, by Judith Denman, the five-year-old daughter of Governor-General Lord Denman. In 2008, the 10-shilling note sold for A$1.909 million, then a record price for Australian numismatics.
The note's history is just as remarkable as the number printed on it. It resurfaced in England in 1999 among Judith Denman's effects, decades after it had been presented to her. This is not simply a very old Australian banknote. It is literally the first numbered Commonwealth banknote, with a direct connection to the country's monetary history and unusually strong provenance. Later private transactions should not be confused with the documented 2008 auction result used here.
1863 $100 Gold Certificate: $2.115 Million
A $100 bill from the Civil War era became a $2.115 million collectible when this 1863 Gold Certificate crossed the auction block at Heritage on April 26, 2013. The note, cataloged as Fr. 1166c, was graded PCGS Apparent Extremely Fine 40.
Why more than $2 million? Heritage said only three examples were known at the time, and two of them were already held by the Smithsonian Institution. That left this note as the only one in private hands. It even had a small repaired edge tear, proving that when something is rare enough, collectors may care far more about the chance to own it than about achieving a perfect grade. The price belongs to this exact survivor, not to Civil War-era $100 bills in general.
1891 $1,000 Treasury Note: $2.585 Million
The 1891 $1,000 Treasury Note may not have the famous "watermelon" design on the back, but it has something collectors like just as much: extreme rarity. Heritage Auctions sold this Fr. 379c example for $2.585 million on April 26, 2013. It was graded PCGS Extremely Fine 45 PPQ.
At the time, Heritage reported that only two examples of the design type were known, and the other was not available to private collectors. That made the note appearing at auction about as close to a once-in-a-generation opportunity as the currency world gets. At this level, nobody is simply buying an old $1,000 bill. They are buying one specific survivor with a particular grade, history, and rarity.
1890 $1,000 Grand Watermelon Treasury Note: $3.29 Million
And here it is: a piece of paper with a $1,000 face value that sold for $3.29 million. Heritage Auctions sold this 1890 $1,000 Treasury Note, famously nicknamed the "Grand Watermelon," on January 10, 2014. Guinness World Records still lists the sale as the record auction price for a banknote.
The strange nickname comes from the three enormous green zeros on the back, which early collectors thought looked like watermelons. This exact Fr. 379b note was graded PCGS Extremely Fine 40, and Heritage described it as unique in collector hands at the time of the sale. So while digging through an old box of currency suddenly sounds much more exciting, there is an important catch: the $3.29 million price belongs to this exceptionally rare variety and specimen, not to every old $1,000 bill.