Thursday, December 6, 2007

Highest Price Paid For A Banknote

A world record of $2,255,000 was paid in December 2006 for an 1890 $1000 United States Treasury note. The note features the portrait of Civil War-era General George Gordon Meade who commanded Union Army troops at the Battle of Gettysburg. The three ornate zeros in the back look like watermelons, thus given the note it's Nickname "Grand Watermelon".

The same note was sold for $1,230 in November 1944. So it has increased more than 1800 times in value. Not a bad investment! If the same $1230 were put in a bank at 5% interest rate, you get only $3875.31 after 23 years.

You can view my entire bank note collection at Tom Chao’s Paper Money Gallery

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