According to the Jhon E Cash Census report, 242 1928 and 1934 series $5,000 have survived from a combined print run of 69,724, a mere .05% survival rate. That’s incredible!
Exactly 36 1928 series $5,000 are known from 7 of the issuing districts, three districts did not issue any at all. Philadelphia, St Louis and Minneapolis did not issue 1928 $5,000 bills. New York issued notes, but none are known to exist.
1928 series $5,000 bills carry a premium over the 1934 series, because fewer were printed and issued and because the 1928 series carried the “Gold Clause”, which stated that they were redeemable in gold. The 1928 series are highly desirable by collectors.
The 1934 series printed all twelve Federal Reserve districts except Minneapolis. There 206 1934 $5,000 bills known and most survived in higher grades, unlike their big brother the $10,000 bills. These notes were mainly used for bank to bank transfers, although the public could own them as well up until 1969.
There were NO Star Notes issued for any series of 1928 and 1934 $5,000 or $10,000 bills. Simply put, not many total notes were printed or issued to have to replace them.
A 1928 $5,000 bill exist. The serial number one example is in the Smithsonian. No others have ever surfaced publicly.
According to the Jhon Cash census, there are a total of 256 $10,000 bills that have survived a printing of 61,048. The 1928 series have 36 survivors out of 16,848 printed and the 1934 series has 252 survivors out of a printing of 44,200.
Continue reading: the Binion Hoard, notable auction results and what to watch for as a buyer.
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