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updated: 6/13/2013 7:27 AM

1891 currency sells for $2.6M at Calif. auction

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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.

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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