This note is the first among any large size notes to be graded superb gem new 69. The largest completely automated Internet auction for certified coins and currency in the United States, Teletrade, stated that the 1899 "Black Eagle" Silver Certificate set a new record.

It is worth mentioning that the bidding on the note had risen up to $30,000 during its auction that was held on December 10. However, back then it did not meet the reserve. The next day Teletrade was able to sell the 1899 "Black Eagle" Silver Certificate to a private buyer, who was not present at the previous auction.

The final prices as well as the name of the buyer were not disclosed, however, Teletrade stated that the note was acquired for more than $30,000.

The president of Teletrade, Ian Russell, mentioned that the 1899 "Black Eagle" Silver Certificate note established a record-price that a person paid for a non Serial Number One "Black Eagle." Thus the note turned into the second most expensive for the type.

Besides being the record-holder even before Teletrade started its sale, PCGS Currency graded the first large size type note "69PPQ."

"This magnificent note duly impressed every one of our graders who examined the note, and the grade of Superb Gem New 69PPQ was unanimous. The centering and margins are nearly perfect, and the paper quality is tremendous without any noticeable handling or counting marks. The originality is unquestionable, and the bold embossing is evident to even the casual observer," outlined Jason W. Bradford, president of PCGS Currency.

It is interesting to mention that the "Black Eagle" Silver Certificate series dated 1899 is among the most well-known designs of the U.S. Currency among collectors. It is also among the more commonly met large size notes that are found in Gem New condition.

"Even 66PPQ and 67PPQ examples of this type are not rare and we even expect to see 68PPQs on occasion as this is not a rare note in lower Uncirculated grades. We were surprised, however, by the virtual perfection of this example. We felt that this note was the first we've seen of any large size type note in our first three years of grading to deserve the 69PPQ grade. We do not take our responsibility to award extremely high grades lightly, and this is the first we've seen that put our doubts and inquisitive eyes to the test," mentioned Bradford.

The vice president of PCGS Currency, Laura A. Kessler, stated that the 69PPQ Silver Certificate was offered for grading by a submitter who did not wish to be disclosed. The certificate then was delivered to Teletrade sale.

She mentioned that the graders from PCGS Currency do not possess the information on the submitter when examining a note. According to Kessler the submitted note met every qualification of the grade set by the PCGS Currency Grading Standards. She outlined that even after being individually analyzed by the company's professional graders, the coin received gem new 69.

"We were delighted to finally grade a large size type note this close to perfection. Once the grade was finalized and the note was holdered, the submitter was called and given the news, and they were understandably ecstatic."

Besides the perfect condition of the note, the president of Teletrade, Ian Russell, considers that the successful sale occurred due to the fact that today more collectors are passionate about the Registry Sets.

"For years coin collectors have been building incredible Registry Sets, devoting significant amounts of time and money in order to bring together the best possible specimens to complete a set. The same can now be said for currency collectors, which is very exciting for the industry. Similar to coins, the highest graded notes with low populations are selling for premiums to gain the best Registry Set rankings," mentioned Mr. Russell.