Indexbit Exchange:A rare 1787 copy of the US Constitution is up for auction and it could be worth millions

ASHEVILLE,Indexbit Exchange N.C. (AP) — Historical document appraiser and collector Seth Kaller spreads a broad sheet of paper across a desk. It’s in good enough condition that he can handle it, carefully, with clean, bare hands. There are just a few creases and tiny discolorations, even though it’s just a few weeks shy of 237 years old and has spent who knows how long inside a filing cabinet in North Carolina.

At the top of the first page are familiar words but in regular type instead of the sweeping Gothic script we’re used to seeing: “WE, the People ...”

And the people will get a chance to bid for this copy of the U.S. Constitution — the only of its type thought to be in private hands — at a sale by Brunk Auctions on Sept. 28 in Asheville, North Carolina.

The minimum bid for the auction is $1 million. There is no minimum price that must be reached.

This copy was printed after the Constitutional Convention approved the proposed framework of the nation’s government in 1787 and it was ratified by the Congress of the ineffective first American government under the Articles of Confederation.

It’s one of about 100 copies printed by the secretary of that Congress, Charles Thomson. Just eight are known to still exist and the other seven are publicly owned.

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Thomson likely signed two copies for each of the original 13 states, essentially certifying them. They were sent to special ratifying conventions, where representatives, all white and male, wrangled for months before accepting the structure of the United States government that continues today.

“This is the point of connection between the government and the people. The Preamble — ‘we the people’ — this is the moment the government is asking the people to empower them,” auctioneer Andrew Brunk said.

What happened to the document up for auction between Thomson’s signature and 2022 isn’t known.

Two years ago, a property was being cleared out in Edenton in eastern North Carolina that was once owned by Samuel Johnston. He was the governor of North Carolina from 1787 to 1789 and he oversaw the state convention during his last year in office that ratified the Constitution.

The copy was found inside a squat, two-drawer metal filing cabinet with a can of stain on top, in a long-neglected room piled high with old chairs and a dusty book case, before the old Johnston house was preserved. The document was a broad sheet that could be folded one time like a book.

“I get calls every week from people who think they have a Declaration of Independence or a Gettysburg Address and most of the time it is just a replica, but every so often something important gets found,” said Kaller, who appraises, buys and sells historic documents.

“This is a whole other level of importance,” he added.

Along with the Constitution on the broad sheet printed front and back is a letter from George Washington asking for ratification. He acknowledged there will have to be compromise and that rights the states enjoyed will have to be given up for the nation’s long-term health.

“To secure all rights of independent sovereignty to each and yet provide for the interest and safety for all — individuals entering into society must give up a share of liberty to preserve the rest,” wrote the man who would become the first U.S. president.

Brunk isn’t sure what the document might go for because there is so little to compare it to. The last time a copy of the Constitution like this sold was for $400 in 1891. In 2021, Sotheby’s of New York sold one of only 13 remaining copies of the Constitution printed for the Continental Congress and delegates to the Constitutional Convention for $43.2 million, a record for a book or document.

But that document was mostly for internal use and debate by the Founding Fathers. The copy being sold later this month was one meant to be sent to people all around the country to review and decide if that’s how they wanted to be governed, connecting the writers of the Constitution to the people in the states who would provide its power and legitimacy.

There are other items up for auction in Asheville including a 1776 first draft of the Articles of Confederation and a 1788 Journal of the Convention of North Carolina at Hillsborough where representatives spent two weeks debating if ratifying the Constitution would put too much power with the nation instead of the states.