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Article updated: 6/13/2013 7:27 AM

1891 currency sells for $2.6M at Calif. auction

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By Associated Press

IRVINE, Calif. -- A silver certificate worth $1,000 when it was printed in 1891 has sold at auction in Southern California for $2.6 million.

Stack's Bowers Galleries of Irvine says the certificate is one of only two of its kind still in existence. The other is on display at the Smithsonian Institution.

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Silver certificates were government-issued documents that could be exchanged for silver dollar coins. They were circulated from 1878 until 1923.

Wednesday's sale came during the auction of 85 pieces of paper currency from a private collection. Stack's Bowers says the sale is a record for a paper currency transaction.

The buyer wishes to remain anonymous.

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