89-year-old $200,000 banknote from the Supreme Court sells for 48 times

89-year-old $200,000 banknote from the Supreme Court sells for 48 times

A $200,000 dollar note from 1934 has sold in Texas for 48 times its printed value.

The auction house that arranged the sale, Heritage Auctions, announced today that the rare five-figure bill was presented at the Long Beach Expo US Coins Signature Auction earlier this month.

The 89-year-old note was rated by Paper Money Guaranty, a third party paper money grading service in Fort Worth, Texas, and earned an Uncirculated 64 Exceptional Paper Quality grade from the niche ranking company.

PMG usually assigns EPQ ratings to bills graded 'graded 65 and higher', according to PMG's website.

The five-figure bill was determined to be exceptional, he said.

Fr. F.R.I., is a $10,000 bill that was passed by the U.S. Congress. 2231-A was sold for a record $480,000 and led the Long Beach Expo US Currency Signature Auction, Heritage Auctions said in a news release about the auction.

Heritage Auctions' vice president of currency, Dustin Johnston, said in a statement.

The Heritage Auctions team last set a record for a $10,000 bill last year when the Dallas auction house sold the denomination for $384,000, which it claimed was a 'world record' at the time.

The $1,400 bill from 1934 depicts a portrait of salmon P. Chase, who served as the Secretary of State for President Abraham Lincoln during the Civil War.

Chase was nominated and confirmed Chief Justice of the United States.

He served in that role for eight years, according to the Supreme Court Historical Society.

The $18,000 bill Heritage Auctions sold is from the Federal Reserve's 1934A series, featuring a front-facing Green Seal and the words.

In 2022, the Board of Governors of the Federal Reserve System estimates that there were about 400,000 banknotes that included denominations between $500 and $10,000.

It's not clear how many of those banknotes were $10,000 notes.