Note in Focus: 1918 $500 Federal Reserve Note (Fr. 1132)

The series 1918 $500 Federal Reserve Note (Fr. 1132) is a seldom-seen note that is quite familiar to most collectors due to its classic design. The obverse features a portrait of John Marshall, Secretary of State and 4th Chief Justice of the Supreme Court, who sat for 34 years in that position. The reverse of the note is the beautifully styled vignette titled “De Soto Discovering the Mississippi.” The depiction, combining the Spanish explorers and Native Americans is a classic example of engraving. There are less than 100 notes graded and the two major service combined, and just two thus far known in Uncirculated. There are no notes known from the Richmond district, and the New York district has the most known certified examples. A PMG Very Fine-20 is available in the upcoming Stacks Bowers auction as lot #15316.