„Big Watermelon“ worth 2.5 million euros

The most expensive banknote in the world is the 1890 American 1,000-dollar bill. It is known in the numismatic community as the „Grand Watermelon.“ It got this cute name because of the appearance of the zeros on the back of the banknote, which resemble watermelons.

On the face of the banknote, in its central part, there is a large denomination marking placed within an oval decorative element (resembling a watermelon). The banknote bears the inscription: THE UNITED STATES OF AMERICA / Will pay to Bearer / One Thousand Dollars / IN COIN. On the left side of the face, American General George Gordon Meade is depicted. On the right side of the banknote is a small seal of the U.S. Department of the Treasury. Below the seal is the place of issue marking: WASHINGTON D.C., and above it is the year of issue marking: SERIES OF 1890. The signatures on the banknote are those of W. S. Rosecrans (Register of the Treasury) and E. H. Nebeker (Treasurer of the United States). The serial number is red in color and consists of one letter, five digits, and a star. It is located in the lower-left and upper-right parts of the banknote. All these elements are placed within a decorative frame. In the upper part of the frame is the inscription: TREASURY NOTE, and in the lower part: LEGAL TENDER ACT JULY 14, 1890.

On the reverse of the banknote, there is a large denomination marking of 1000. The zeros here are shaped in a way that resembles large watermelons. Below the denomination is the inscription: One Thousand Dollars. In the left part of the reverse, inside a circular element, is the text: THIS NOTE IS A LEGAL TENDER AT ITS FACE VALUE IN PAYMENT OF ALL DEBTS, PUBLIC AND PRIVATE, EXCEPT WHEN OTHERWISE EXPRESSLY STIPULATED IN THE CONTRACT. The reverse of the banknote is decorated with ornamental guilloche elements.

At the annual Florida United Numismatists convention held on January 10, 2014, in Orlando, Florida, the auction house Heritage Auctions sold this $1,000 bill from 1890. (Fr#379b) sold for a record $3,290,000 (then €2.5 million). This made it the most expensive banknote in the world. The note had previously set a record in December 2006, when it sold for $1,000,000. sold for $2,255,000 in a private sale. Interestingly, this bill sold for $1,230 at an auction in 1944, and for just $11,000 in 1970.

Only one banknote with a small State Treasury seal (Fr#379b) is available on the market, so it is no surprise that it fetched such a high price. There is no doubt that it will break the record again when it appears at the next auction. Nine years have passed since the last one, so perhaps it will see the light of day again soon.