$10,000 Gold Certificate

[JIM F.]

Here's a tough find. NO hole cancels. I've only seen 1 other like it.

[truthteller]

Very rare indeed. Did you know that if a $10K bill walked into a coin shop, the buyer must report this purchase to the Feds on US gov. form 8033 as a cash transaction?

 

 

 

TRUTH

[deathlok]

What if no transaction was made, would the buyer still have to report it?

[JIM F.]

Note: This note IS cancelled, but it is an ink cancel not a punched hole cancel like the vast majority of these. The reporting of this note to the feds should not be required. I paid $1100 for it 6 or 7 years ago...I haven't seen any for sale is a long time in decent condition (most have fire and/or water stains in addition to the punched hole cancels).

 

How interesting it would be to see the faces on the people who gathered these up when they were thrown out the window during the fire at the treasury building back in 1933 or was it 1934???

[deathlok]

Even if a note of this kind was not cancelled, it would not be legal tender though, right?

[JIM F.]

Good question....none exist uncancelled. Since these were used for Bank to Bank transfers I would think that they were legal tender, and theoretically if one did exist uncancelled it probably would be legal tender.

 

I am not aware of any US issued notes where the legal tender status has been revoked.

 

It's an academic question though, I'll let other chime in on the topic.

[truthteller]

Good question....none exist uncancelled. Since these were used for Bank to Bank transfers I would think that they were legal tender, and theoretically if one did exist uncancelled it probably would be legal tender.

 

I am not aware of any US issued notes where the legal tender status has been revoked.

 

It's an academic question though, I'll let other chime in on the topic.

 

Big difference with a cancelled 10K note and uncancelled $10K note. Any note cancelled is officially withdrawn from circulation and is NOT considered legal tender, thus may be sold and bought without the Feds knowledge. There are many intrabank US notes issued currently cancelled and are very rare and legal to own.. Intrabank US notes that are not cancelled are considered "illegal to own" and will be confiscated.UNLESS there is specific legislation or law that provides legal ownship. I know of one case back about 25 years ago where a uncancelled intrabank note was offered for sale to a west coast coin dealer. The dealer actually got legislation passed with help of a local congressman as a rider to a hugh House Bill. After the legislation was passed, the value of the note went from "illegal" to over a $100K.

 

 

TRUTH

[BankNote1]

The only reason that collectors have a chance to own one of the Gold $10,000's is because of the fire. A bunch of these notes were dumped out of a window during the fire!

[JIM F.]

Check this one out....

 

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=3417&item=8312707216&rd=1

 

I suspect an ink cancel was washed off of it.

[truthteller]

That sure does look like a cancellation mark on the reverse in red ink. I wonder how that passed by the graders?

 

 

 

TRUTH

[HaydenTubbs]

That sure does look like a cancellation mark on the reverse in red ink. I wonder how that passed by the graders?

 

 

 

TRUTH

I agree,of course with PCGS grading over 95 counterfeit morgan dollars,I'm sure the currency TPG's decided they had to let a few pass by to even things out.

[HaydenTubbs]

BTW nice note,Jim :

[JIM F.]

Tells you about the "credibility" of the Grader and/or Seller of the note.

[SmallSizeFanatic]

Very nice find. 99 percent of the ones I have seen were canceled. An intact GC $10,000 is a real treasure.