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Jason Crook CPA CFE LLC's Blog

25 Nov 2017

Large Denomination FRN $10,000

Paper Money-U.S. | Jason Crook CPA CFE LLC

I've come across a possible US $10,000 bill, and I know they are extremely rare and probably equally difficult to authenticate.  According to the research I've done it seems most of the known to survive bills came from the Binion Casino hoard.  It seems there are only about 336 known to exist so I assume finding an authentic one is a treasure indeed. 

The circumstances surrounding it's discovery, in my opinion, make it plausible that it may possibly be authentic, but there are a few concerns I have about the specimen.  
1.  The serial # is higher than, the anticipated or thought of production level of 60,000.
2.  There is a variation on the obverse in the "WASHINGTON D.C.; SERIES OF 1934" and the signature of the Secretary of Treasury, it seems these parts of the bill are of different type print and the text is closer together, the the public viewable bills such as the Binion ones etc.

I mostly collect coins and I'm not too versed on paper money, but I offered to help the owner of the bill try to authenticate it.  My plan is to send it to the PMG for review and then go from there, but I wanted to post here to see if some of the more seasoned paper money collectors can spot some obvious possible counterfeit issues or can tell if it's fake off the get go.  

I added the red "SPECIMEN" lettering myself to the original images.

Love to hear what others think.

Thanks!

Jason Crook CPA CFE LLC

Comments

CoinLady

Level 6

If it's genuine...a thing of beauty & a joy forever.

Numinerd9

Level 5

Hi Jason. I was confused based on the pictures; thought the professionally graded item was yours - that $10K in the 64 PMG holder is definitely real. However, the other item pictured with "specimen" across it is a pretty bad fake. It's just wrong on so many levels; lack of details, wrong typeface/font and color on the serial numbers and Treasury seal. A real one would also not have that odd-looking "Series of 1934" positioned in that way, so close to "Washington, D.C. The typeface/font is wrong just below the signatures where it says "Treasurer of the United States" and "Secretary of the Treasury." (I'd suggest saving the money and NOT submitting this counterfeit to PMG.) -Sam Gelberd, ANA Numismatic Educator

Hi thank you for your response, yes sorry for the confusion the blog keeps cycling through the uploaded pictures, so sometimes it shows the specimen, sometimes it shows the real deal. I wish the real PMG graded one was mine, lol, but it's not. Of course I usually go with the golden rule, if it sounds too good to be true, it usually is. I have had my suspicions for sure on the item as well, for some of the reasons you mentioned above, the font is different, and the positioning of the series 1934, as well as the owner seems reluctant to send it to me to get authenticated. So those circumstances tip the scale for sure into the fake zone for me as well. My wife is Filipino and this is coming from someone around their area that seems to be going around try to sell it. It was supposedly found in a strong box buried in the ground apparently left over from WWII, which to me also tells me a good chance it's fake because the box would have deteriorated by now as well as most the bills inside of it. For the most part the Filipino people are usually very warm hearted and kind, but the ones who have it could very well be novice counterfeiters, that's why I wanted to get it looked at by PMG and also post here for some info. So I appreciate all the responses. My other thought was that if it really was found buried in a box, it could still be a counterfeit from WWII, and not a modern one. Otherwise was a very interesting piece of US history anyways, so I learned some things about paper money :) . I'm contemplating a FOIA request to the BUREAU OF ENGRAVING AND PRINTING just to see if I can dig up anymore information about those bills, since it sparked my interest.

Conan Barbarian

Level 5

well i cant help you but thanks for sharing a brief history about this bill

coin collector

Level 4

very cool worth a lot

Yes the real ones are! :) Probably not the one I have pictures of, lol.

Kepi

Level 6

That's very cool! I agree...PMG needs to check it out. Good luck!

World_Coin_Nut

Level 5

Sounds like you are doing the right thing. Once PMG authenticates it you can determine a value.

Longstrider

Level 6

Good luck. Leave it to PMG to decide. That's the best idea, I believe..Thanks

The plan is to have pmg review it to verify it's authenticity. It was supposedly recovered from a WWII treasure hoard.

Mike

Level 7

Well it has not go in there is no other way. I hope your lucky stranger things have happened. I hope your one of the lucky ones. Where did you come across it? Good luck Mike.

CoinLady

Level 6

I'd have PMG take a look at it. A photo really can't do it justice.

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