A rare $100 bill printed during the U.S. Civil War has officially become the most valuable note in American history, selling for more than $2.1 million at auction. The 1863 Gold Certificate, one of only three known examples, was purchased by a private collector in a record-breaking sale confirmed by Heritage Auctions and the Professional Numismatists Guild (PNG).
Rare $100 Bill Becomes the Most Valuable
| Key Fact | Detail/Statistic |
|---|---|
| Auctioned Note | 1863 $100 Gold Certificate |
| Sale Price | $2,115,000 (record confirmed 2025) |
| Known Examples | 3 total — 2 at Smithsonian, 1 in private hands |
| Historical Period | Civil War Era |
| Backed By | Gold deposits held in the U.S. Treasury |
Historic Sale Sets Benchmark for U.S. Currency Collectors
The record-setting $100 gold certificate surpassed all previous auction prices for U.S. currency. Specialists attribute its value to a combination of rarity, pristine condition, and historical importance.
“This note represents the pinnacle of American numismatics,” said Peter Treglia, Director of Currency at Stack’s Bowers Galleries. “It links directly to the earliest efforts to build public trust in paper money during wartime.”
The note’s exceptional preservation — graded “Gem Uncirculated 65” — helped elevate its price beyond early estimates. Collectors from three continents reportedly participated in the bidding.
Why This Rare $100 Bill Matters
The 1863 Gold Certificate differs sharply from modern Federal Reserve Notes. It was issued under the Act of 1863, authorizing the U.S. Treasury to print notes exchangeable for physical gold held in government vaults.
Only three examples of this denomination survive. Two reside in the Smithsonian Institution’s National Numismatic Collection, and the third — the one sold — is the only specimen in private ownership.
“The survival of a note like this in such condition is extraordinary,” said Dr. Ellen Feingold, curator of the Smithsonian’s currency collection. “It offers an unbroken link to the economic strategies that financed the Union cause during the Civil War.”
From the Gold Standard to Modern Money
Gold certificates circulated until 1933, when President Franklin D. Roosevelt suspended domestic gold redemption and recalled nearly all such notes. Most were destroyed, leaving only a handful in museums and private collections.
These bills were once redeemable for an equivalent value in gold coins — a tangible link between paper promises and the nation’s precious-metal reserves. When the Federal Reserve System was established in 1913, it gradually replaced Treasury-backed notes with the modern fiat currency Americans use today.
“Gold certificates embody the transition from tangible wealth to the trust-based system we rely on now,” said Dr. Richard Doty, former senior curator at the Smithsonian. “They represent both technological progress and public faith in government finance.”
How Experts Verify Authenticity
Every major sale of a historic banknote involves rigorous authentication. Independent grading firms such as Paper Money Guaranty (PMG) and Professional Currency Grading Service (PCGS) assess condition, printing precision, paper composition, and security features.
Provenance records are equally critical. The $100 gold certificate sold this year carried documented ownership tracing back to a Treasury archive sale in the early 20th century. Verification through ultraviolet and infrared scanning confirmed period-appropriate ink and fiber consistency.
“These measures protect collectors and maintain the integrity of the numismatic market,” said John Albanese, founder of the Certified Acceptance Corporation (CAC).
Comparison With Other Record-Setting Banknotes
While this rare $100 bill set a record for its denomination, higher-value notes have reached comparable heights. A $10,000 Federal Reserve Note featuring Salmon P. Chase sold for nearly $1.5 million in 2021. In 2013, a 1890 $1,000 Treasury Note depicting General George Meade fetched $2.04 million, slightly below the current record.
According to the Professional Numismatists Guild, the overall market for U.S. banknotes valued above $100,000 has grown by more than 20 percent since 2020, reflecting strong collector demand and investment diversification.
The Growing Appeal of Numismatic Assets
Industry reports from Deloitte’s Alternative Investment Group show that rare coins and banknotes now form a small but expanding share of global collectible assets. In 2025, high-net-worth investors allocated nearly $11 billion worldwide to tangible heritage items such as stamps, manuscripts, and currency.
Analysts attribute this trend to the stability and cultural value of historic money. “These are assets that combine art, history, and finance,” noted Dr. Lisa Chen, an economist specializing in alternative markets at the University of Chicago. “Their scarcity and provenance make them uniquely resilient to inflationary pressure.”
Digital Preservation and Public Access
The Smithsonian and several private archives are digitizing high-resolution images of rare U.S. currency, including this $100 gold certificate, to make them accessible for research and education. These initiatives aim to ensure that physical scarcity does not limit public understanding of early monetary history.
A public online exhibit of Civil War-era banknotes is expected to launch in 2026, featuring interactive 3D scans and historical annotations.
Related Links
Big Tax Change: PayPal and Etsy Will Only Send 1099-K Forms for Over $20,000 and 200 Transactions
Layoff Announcements Surge in October — Worst Month for Jobs in 22 Years
A Window Into America’s Economic Past
While few people will ever own such a note, experts say its discovery and sale highlight the endurance of American financial history. “Every surviving gold certificate tells a story about faith — in government, in markets, and in value itself,” said Feingold.
With continuing digitization and rising interest among younger collectors, the legacy of this rare $100 bill will likely extend far beyond the auction room.
FAQ About Rare $100 Bill
Q: How can collectors identify valuable $100 bills?
A: Look for unique issues such as Gold Certificates, Silver Certificates, or misprints verified by grading agencies. Notes with historical backings or limited production runs are most prized.
Q: Are old bills always valuable?
A: No. Age alone does not determine value. Authenticity, rarity, condition, and provenance are the decisive factors.
Q: Can gold certificates still be redeemed for gold?
A: No. Redemption rights were revoked in 1933. They hold only collectible, not monetary, value today.
