There’s an old saying that one needs money to make money. Perhaps, this is why people like to hoard money. Sometimes, that hoarding proves extremely useful and you end up with something like the Marcy Note.
Oooo! Tell me more about the Marcy Note!
This ‘Unicorn’ of notes has been in the news since last year and is slated to fetch a cool 3 million USD. Only 1500 of these were printed in 1891 by the US Treasury. The Marcy Notes were not meant to enter mass circulation. Rather, they were used as a means of wire transfer among banks. Therefore, the bills never made it into private hands. Neither did they stay in the banks’ hands.
The currency used to change frequently in the past and these bills only circulated for two to three years. The reason why this is called the Marcy Note is due to the portrait of former U.S. Secretary of State William L. Marcy on the right side of the note.
How many Marcy Notes are there?
Only two of these Marcy Notes to exist. One Marcy Note miraculously ended up in the hands of the Smithsonian Institution as a part of their permanent collection.
The other Marcy Note is being put up for auction by Joel R. Anderson. His collection is famous among currency collectors. He owns a numismatic publishing company and for some reason a TNT fireworks one.
This is not the first time this Marcy Note has surfaced. Earlier, in 1985, it traded hands privately for $25,000. Another private sale fetched roughly $150,000 in 1992. Finally, in 2013, it was sold again for a cool price of $2.6 million through a private treaty.
How impressive is Joel’s collection?
Joel has been selling his collection of 240 U.S. bank notes in several parts since March 2018. The total worth of these notes is an eye-watering 30 million U.S. dollars. Quite a price for old pieces of make believe paper.
Where to snatch this Marcy Note?
The note will be auctioned at the Whitman Spring Expo, which takes place in Baltimore between Feb. 28 and March 3. But this is not the only wonderful note they have to offer. Two notes other than the fabled Marcy Note are going up for sale as well.
What else do they have at the Expo?(Fox news’ coverage of the expo)
The first is a $1,000 ‘Rainbow’ note from 1869. It has distinct bluish ink tint on the face of the bill. DeWitt Clinton appears in a portrait at the center. While ‘Columbus In His Study’ can be found on the left side of the bill. The right side has a large pink spiked Treasury Seal with the serial numbers in red. It was last seen in a 1946 auction and did not surface till now unlike the Marcy Note.
Subsequently, the second note is the $500 ‘Rainbow’ note. It depicts President John Quincy Adams on one side. To his other side lies the allegorical figure of justice. Only 89,360 examples of this were ever printed and only three exist as of now.
The $1.000 ‘Rainbow’ note may fetch between $1.5 million and $2.5 million. Another piece of paper as valuable as the Marcy Note.