A Painting Of George Washington That Inspired His Portrait On The $1 Bill Is Heading To Auction
A rare 1804 portrait of George Washington by Gilbert Stuart will go under the hammer in January 2026. The painting, once owned by Clarkson University, is expected to fetch between $500,000 and $1 million. It forms part of a major auction marking the 250th anniversary of the Declaration of Independence.
The portrait was originally commissioned by James Madison in 1804. Over the years, it changed hands several times—passing from Madison’s son to prominent figures like businessman William Henry Aspinwall, industrialist James W. Ellsworth, and collector William K. Bixby. In 1951, Bixby donated it to Clarkson University.
In 1968, the painting briefly disappeared when three students from the university’s Theta Xi fraternity stole it as a prank. They returned it quickly after realising it was an authentic Stuart work. The artist himself created many versions of Washington’s likeness, with the Athenaeum portrait—used for the $1 bill—being the most famous.
Now, the 1804 piece will join hundreds of other 'Americana' items at Christie’s auction. Clarkson University plans to reinvest the proceeds into new educational programmes.
The sale will take place in early 2026, offering collectors a chance to own a historic piece of American art. The funds raised will support future learning initiatives at Clarkson. The auction coincides with national celebrations of the Declaration of Independence’s 250th anniversary.
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