Apple Check Signed by Steve Jobs and Steve Wozniak Sells for 4,800× Its Original Value

[MacRumors]

RR Auction has announced that an Apple check signed by the company's co-founders Steve Jobs and Steve Wozniak fetched a whopping $2.4 million at auction this week. The check was for $500, meaning that it sold for 4,800× its original value.

According to RR Auction, the $500 check was issued to printed circuit board designer Howard Cantin, shortly after Jobs and Wozniak opened Apple's first bank account. Cantin was responsible for translating Wozniak's Apple-1 schematic into a manufacturable printed circuit board, leading to Apple's first commercial product.

Dated March 16, 1976, the Wells Fargo check is marked "No. 1." It was issued a few weeks before Apple Computer was officially founded on April 1, 1976.

“This is the most important financial document in Apple history," said Bobby Livingston, executive vice president at RR Auction. "It captures Steve Jobs and Steve Wozniak's first true business transaction, and the final result shows that collectors recognized its significance above any other Apple material ever brought to market."

Article Link: Apple Check Signed by Steve Jobs and Steve Wozniak Sells for 4,800× Its Original Value

 

[applicious84]

Ah, capitalism

 

[macduke]

When you account for inflation, it’s about the same. /s

 

[IronTek]

Despite the headline, I think the fact that it was signed by both Steves helped elevate its value.

 

[dannys1]

$500 was a lot back then, who is Howard Cantin and why didn't he cash it?

Edit: He worked on the Apple 1 board - so presumably this was payment for work completed. Someone informed me the cheque was cashed in hence the Wells Fargo stamp and you got to keep the cheque afterwards in those days.

 

[Abydos]

rarity, condition, Provenance , drives the collector market ; study the habits of groups before 'market economies ' evolved. I think it was Milton friedman who remarked that all economic systems are motivated by greed the question is whose greed

 

[neuropsychguy]

If that $500 was invested in the S&P 500 and dividends reinvested, it would be worth about $125,000 today. If you adjust for inflation it's worth only about $22,000 in 1976 dollars.

If it was invested in AAPL in 1980 with the IPO, it would be worth about $1.5 million with dividends reinvested (which means the check outpaced AAPL performance).

If instead of $500 it was a hypothetical stake in Apple when it was founded in 1976, it could be worth hundreds of billions.

 

[neuropsychguy]

$500 was a lot back then, who is Howard Cantin and why didn't he cash it?

There's a stamp on it over the Wells Fargo Bank showing it was deposited or cashed.

 

[The Cockney Rebel]

I like Apple, but this is beyond.

Although, no doubt it is an investment.

 

[Fusion79]

There's a stamp on it over the Wells Fargo Bank showing it was deposited or cashed.

Banks used to send you back all your cancelled checks each month for your records before electronic banking. I remember my parents having drawers full of checks they had written.

A new era in banking begins

www.nbcnews.com

 

[H.E. Pennypacker]

2.4 million. Pffft. I spend that much on aftershave.

 

[Zensō]

It’s kind of a cool piece of history.

 

[Blackstick]

Jobs famously never autographed, but Woz will sign anything put in front of him.

 

[one more]

I like Apple, but this is beyond.

Although, no doubt it is an investment.

How is this Apple’s fault if somebody decides to spend an obscene amount of money for a piece of old paper with two autographs? 😉

 

[macbookj0e]

Very cool piece of history. Little did the Steve’s know at this point what they were starting!

 

[leonremi]

Another proof that there is too much disposable income sloshing around in a very small sector of the population.

 

[Powerguru]

I just printed it from the image. Now, I can display it in a nice case. For $15 total.

 

[P-Rip]

In a couple of documentaries I’ve seen, it was implied that Woz did the layout. But maybe that was for the prototype board. That would make more sense.

 

[boswald]

A couple reasons for historical significance:

1. Apple’s first check from their first account.

2. Led to manufacturing of the first Apple product.

Although 2.4 million is insane, I wouldn’t mind framing it and keeping as a keepsake (if I found it).

 

[roklanhavok]

I was going to comment that it's "so odd" that I'm fascinated by these old checks, but then I realized someone paid $2.4 million for it, so I guess it's not so odd.

 

[fhall1]

I wonder if Howard's autograph is on the back side?!?

 

[iosuser]

Did somebody know this would be worth something someday? No wrinkles from handling, no crease from folding it in half, and the perforation perfectly torn.

 

[dannys1]

There's a stamp on it over the Wells Fargo Bank showing it was deposited or cashed.

Ah I see - so you'd keep the cheque afterwards in those days? When I used the handful of cheques I did early on you'd lose it when you cashed it in.

 

[buddhistMonkey]

Did somebody know this would be worth something someday? No wrinkles from handling, no crease from folding it in half, and the perforation perfectly torn.

And no visible screws!

 

[Zenman12]

Another proof that there is too much disposable income sloshing around in a very small sector of the population.

Yeah. I follow a lot of foster cat homes and they’re always asking for money to help with cat vet bills. Yet these people want to deify a guy who wrote a check for $500. It’s sad. 😢