1934 $1,000 Federal Reserve Note — Minneapolis PMG Choice Very Fine 35 Fr. 2211-IIs | Light Green | Julian–Morgenthau Serial Number: I00000122A (Low Serial)

Few American banknotes command the presence of the 1934 $1,000 Federal Reserve Note, and this Minneapolis issue is a textbook example of why. Issued during the depths of the Great Depression, these high-denomination notes were never meant for public hands—they were instruments of interbank settlement, reserved for the highest tiers of American finance.

Dominating the face is Grover Cleveland, the only U.S. president to serve two non-consecutive terms, portrayed with a gravitas that perfectly suits the denomination. The Light Green seal and serials mark this as the scarce second-signature variety, bearing the names of Julian and Morgenthau, issued just as the U.S. monetary system was being fundamentally reshaped.

What truly elevates this example is the low serial number: I00000122A. Early serials on four-figure notes are avidly pursued, as they underscore the note’s position near the very beginning of its production run—quite literally among the first of its kind to circulate within the Federal Reserve system.

Graded Choice Very Fine 35 by PMG, the note retains strong eye appeal, crisp detail in the engraving, and excellent overall balance for a denomination that almost never survived heavy handling. Minneapolis issues are scarcer than their New York or Chicago counterparts, adding another layer of desirability for advanced collectors.

This is not just a banknote—it’s a relic of American financial history, a tangible symbol of a time when a single piece of paper represented immense institutional power. A cornerstone piece for any elite U.S. currency collection, and the kind of note that quietly commands respect the moment it’s seen.x