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Fr. 185l $500 1880 Legal Tender PMG Choice Very Fine 35.
Auction 448 | Lot: 15305 | Sep 28, 2007

Sold For: $690,000.00
Fr. 185a $500 1874 Legal Tender PMG Very Fine 25. This note was introduced to the numismatic community when it appeared in our September 1996 Auction. The discovery increased the number of known Series 1874 pieces to five, though that number is misleading. Two pieces are permanently impounded in the Federal Reserve Bank of Chicago and the Smithsonian Institution and a third is reported but it lacks sale information, its grade is even unknown. The last, and presumably the only other piece in collector's hands, appeared at public auction once; it realized $44,500 in 1983. As a basic type, this note is incredibly scarce. The design encompasses fourteen Friedberg numbers made up of the 1874, 1875, 1878, and 1880 Series' and many different signature combinations. In total those fourteen Friedberg numbers show only thirty six survivors but more than two thirds of the notes are permanently impounded in various museum and government collections, thus only eleven of those specimens are presumably available to collectors.

At left stands the allegorical figure of Victory, her face long and her posture, a state of calm. Below her rests a tipped cannon and unspent cannon balls, the remnants of a war that affected a nation in a way that can never be captured in a single vignette. At right is Major General Joseph K. Mansfield, one of only a few men immortalized on United States currency for their contributions to the Civil War. The power of Charles Burt's design really comes to light with the knowledge of Mansfield's fate. Victory looks to Mansfield who was himself a casualty of the Union victory at Antietam. He was taken in his prime on the bloodiest day in American history where more than 22,000 soldiers were killed or wounded in battle.

Our previous physical description of this incredible Legal Tender rarity included a detailed account of the overall eye appeal, "At a glance, the colors and brightness give the impression of a fully uncirculated note. The seal, the two large red "D's
Auction 424 | Lot: 14543 | Jan 6, 2007

Sold For: $517,500.00
Fr. 185l $500 1880 Legal Tender PMG Choice Very Fine 35.

Auction 3521 | Lot: 17377 | Jan 14, 2013

Sold For: $411,250.00
Fr. 185m $500 1880 Legal Tender About New. Only five examples of this incredible rarity are known to exist from the original printing of 20,000 pieces. Three of those five are permanently impounded. The first, the ex-Bebee example, is ensconced in the ANA museum in Colorado Springs, and two others are in government hands, one in the Smithsonian and the second in the collection of the Federal Reserve Bank of San Francisco. The only note other than the presently offered example in collector's hands is an Extremely Fine that last sold in a February, 2000 auction for $231,000. Surprisingly, all five existing pieces are reported to be in decent grade. The San Francisco Fed piece grades Very Fine, and the other three all grade Extremely Fine. This note grades a full About New, and is problem free save for a consummately expert repair to the left edge which is undetectable short of extremely close examination. With the only other privately owned Fr. 185m now off the market for an extended period of time, this may well offer the last opportunity for this generation of collectors to acquire a Lyons-Roberts signed $500 Legal.
Auction 362 | Lot: 17046 | Jan 15, 2005

Sold For: $281,750.00
Fr. 185d $500 1878 Legal Tender PMG Very Fine 25.

Auction 3591 | Lot: 21468 | Jan 13, 2023

Sold For: $240,000.00
Fr. 185k $500 1880 Legal Tender Fine. One of the more important rarities that CAA has had to offer. It's beautifully margined and quite bright for the grade, with excellent engraving quality and good color save for a counting mark at the upper right above Mansfield's portrait. Unlike most important rarities of its era, it is free of repairs or restorations save for a few minor closed pinholes and a short, well restored, unobtrusive edge split that does note reach the design. Although six examples of Fr. 185k are known to exist, it is a note that is unique in collectors' hands. One of the examples is in the Smithsonian Institution, two are in the Federal Reserve Bank of San Francisco and one each in the Federal Reserve Banks of Chicago and Richmond. Thirty-six Mansfield $500 Legals are known for all fourteen Friedberg numbers combined, and out of that 36, an astonishing 25 are permanently held in museum or government hands, leaving only eleven examples of the type for collectors. The note has excellent color for the grade, with good clarity remaining to the printing and nice, original, unmolested paper surfaces. There are scant few Friedberg numbers that can truly be considered unique to collectors, and this is one of those rarified pieces. During the "heat" for major rarities about three years ago, this note would, without doubt, have approached the half-million-dollar mark. Well-heeled collectors will be pleased and surprised to see a note of this caliber become available during this period of relatively depressed prices.
Auction 322 | Lot: 27984 | May 3, 2003

Sold For: $161,000.00
Fr. 185d $500 1878 Legal Tender Very Fine. This is the third opportunity that we have had to offer this magnificent General Mansfield $500. Its last appearance in a CAA Sale was in January of 1998, where it was described, "When we offered this note for the first time in May of 1991, it was a newly discovered note to the census. Since that time, one additional piece has turned up in the Federal Reserve Bank of New York, bringing the total known up to six, two of which are permanently impounded. This note is defect-free without any trace of repair or restoration. Only forty examples of this design type, which spans fourteen Friedberg numbers, are known to exist and of those, twenty-six are permanently impounded in government hands." The most recent example of this number at public auction was the lower grade piece, which we sold in January of 2004 for over $75,000. This presently offered note has not auctioned since we sold it in 1998.
Auction 374 | Lot: 16673 | May 7, 2005

Sold For: $138,000.00
Fr. 185d $500 1878 Legal Tender Choice Fine. This is one of only six examples known to exist, two of which are in government hands, one in the Smithsonian and a second in the Federal Reserve Bank of New York. Of the four in collectors' hands, three have been on the market in the last few years. An Extra Fine brought $143,000 in the June 2000 Memphis sale, and a Very Fine was on a fixed-price list in 1998 at $85,000. This note was on the market in May of 1997, when we sold it for $37,400. This is one of the most elusive design types. About 40 examples are known, and they span fourteen Friedberg numbers. Of those 40-odd pieces, fully two thirds are permanently impounded in government hands.
Auction 338 | Lot: 18733 | Jan 10, 2004

Sold For: $75,900.00
Fr. 183 Hessler 1320 $500 1862 Legal Tender Face and Back Proofs PCGS Banknote Choice Unc 64; Very Fine 30 Details.
(Total: 2 notes)
Auction 3600 | Lot: 22042 | Jan 16, 2026

Sold For: $30,500.00

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