Rare currency on show at money fair

Boston:  In an economic downturn, it might be tough to get your head around this: rare sheets of $100,000 bills, fabulous gold treasures dating back to the California Gold Rush era, rare coins including those tied to the first stirrings for America's independence and federal government securities worth more than a billion dollars.

That's the backdrop of America's premier money show, the World's Fair of Money, which has brought about 1,000 coin dealers and hundreds of collectors to Boston, seeking to tap into the surprising resilience of the coin industry.

Held in a sprawling hall monitored by armed uniformed and undercover police officers, federal agents, private security contractors, electronic surveillance equipment and vigilant participants, the fair features seldom-seen gold treasurers brought from the Smithsonian Institution's vaults including America's first $20 gold coin — valued by independent experts at $15 million today — and its last $20 coin.

It also includes sheets of America's largest denomination currency, the $100,000 bill, which is said to be worth about $1.6 million today. The gold certificate note, which bears President Woodrow Wilson's portrait, was used only for official transactions between Federal Reserve Banks. It was not circulated among the general public and cannot be legally held by currency note collectors.

"The reaction from kids to grandparents is universally the same: ‘Wow, that's a lot of money.' So, they wouldn't mind having it," Kevin Brown, manager in the marketing division of the US Treasury Department's Bureau of Engraving and Printing, said while holding the $100,000 bills. "People like to see money."

The show, which ends on Saturday, includes a comprehensive collection of US paper money that has never before been exhibited.