World

This dollar bill can be the most expensive ever

An American dollar bill from 1891 is expected to sell for around NOK 25 million in auction in the United States.

It is perhaps a good argument for why it pays to use cash and not short, the US Dollar Bill that is placed under the Maryland hammer on February 28.

Last time the banknote was sold at auction in 2013, it set the record as the most expensive of all time, sold for staggering $ 2.6 million, equivalent to about NOK 22 million, writes Bloomberg news agency .

Then there is no ordinary note either, but one of two well-known specimens of the so-called “Marcy note” from 1891 bearing the portrait of William L. Marcy, senator and governor of the state of New York – who also set two periods as war minister respectively and Secretary of State in the United States.

Used by banks

Only 1,500 copies were printed by the Marcy note in 1891. The banknote never came into circulation properly, but was primarily used as a currency when the banks intervened, Bloomberg writes. For the same reason, very few of the banknotes came in private hands before they disappeared from the market after just a couple of years.

One copy of the bill ended up with the world’s largest museum institution, the Smithsonian. Another ended up in a private collection for over 80 years. The rest was probably lost.

However, it took decades before the value of the note was considered to be higher than the face value. In 1985, it was sold on the private market for $ 25,000. Then it was sold for $ 150,000 in 1992. The most recent registered sale was in 2013, when it became the most expensive note when it sold $ 2.6 million.

Auction

It is the auction house Stack’s Bowers which now puts the thousand dollar bill under the hammer. In addition to the Marcy note, they will also auction another thousand dollar bill from 1869 and a 500 dollar bill from 1869. The total sales price is expected to reach up to NOK 70 million.

The three banknotes come from the collection of the American collector Joel R. Anderson.

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