$500 San Francisco Federal Reserve Note Hits Auction Block with Estimated Value of $125,000 to $175,000

A rare and historic $500 note from San Francisco's Federal Reserve Bank is set to auction off, with an estimated value of $125,000 to $175,000. The note, graded Choice Uncirculated 64 by Professional Currency Grading (PMG), is one of the finest surviving examples of America's first high-denomination Federal Reserve Notes.

The Series of 1918 marked a major expansion of the Federal Reserve Note system, introducing large denominations like $500, $1,000, and $10,000 notes. These high-value notes were primarily used by banks, financial institutions, and wealthy businesses for major transactions and transfers between banks.

The note features Chief Justice John Marshall's portrait on the obverse side and William Henry Powell's painting 'Discovery of the Mississippi by De Soto' on the reverse. The engravers adapted this monumental work from a 19th-century painting that hangs in the United States Capitol, creating one of the most ambitious narrative scenes ever placed on a Federal Reserve Note.

The note has previously sold for $150,000 and is expected to attract serious bidders due to its exceptional condition, technical quality, visual drama, and major auction pedigree. With only one other district having a comparable Choice Uncirculated example, this rare note presents an unparalleled opportunity for elite currency collectors.