1929 Tonopah $10 note estimated at $70,000 in Long Beach sale

A 1929 Tonopah, NV $10 note is estimated to bring $50,000-70,000 to Heritage Auctions' September 3-8 sale in Long Beach.

The lot (numbered A000001A) was the first issued for the year and is the only recorded small size serial number one note from the bank.

Tonopah note
The note was issued by the Nevada First National Bank of Tonopah in 1929

It's graded PGCS Extremely Fine 40PPQ, the only small size Tonopah note known to be in better than fine condition.

The Nevada First National Bank of Tonopah began printing currency the year it opened in 1907, and ceased in 1932.

A Superb Gem New 67PPQ 1914 red seal federal reserve note is valued in excess of $75,000.

Heritage comments: "The note itself is glorious with huge margins, ideal colour, and top-quality eye appeal.

"At the very height of the market in September 2008, we sold an identical PCGS 67PPQ for $37,375, and, at the very trough of the market in May of 2011, we sold an identical note for $21,850.

"The note we sold back in 2008 sold again last year, fetching a much stronger $30,550, indicating the resurgence of confidence in the highest end of the type note market."

The sale is one of a series taking place in Long Beach in early September, one of which includes a rare Burgers Pond coarse hair.

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