Public DomainGilbert Stuart painted this portrait of George Washington in 1804, five years after the first president’s death. As the first president of the United States, George Washington is one of the most recognizable figures in American history. That’s thanks in part to his portrait on the $1 bill. Now, one of the original portraits by artist Gilbert Stuart that inspired Washington’s depiction on the currency is heading to auction. Stuart created many paintings of the first president, and this particular work of art was commissioned by James Madison in 1804. Experts estimate that it will sell for up to $1 million when it hits the auction block in January 2026. Gilbert Stuart’s Paintings Of George Washington This portrait will be sold as part of an auction organized by Christie’s in celebration of the 250th anniversary of the signing of the Declaration of Independence. Stuart’s painting is one of hundreds of pieces of “Americana” set to be sold at New York City’s Rockefeller Center in January. Public DomainGilbert Stuart, the artist behind some of the most famous portraits of George Washington. Gilbert Stuart was already a well-known portraitist when he was introduced to George Washington in 1794 through a letter written by John Jay, the first chief justice of the Supreme Court. The following year, Washington sat for Stuart for the first time, which resulted in the Vaughan Portrait. Then, in 1796, the president sat for Stuart two more times, leading to the Athenaeum Portrait and the Lansdowne Portrait. From these three paintings, Stuart went on to create dozens of replicas and copies. The Athenaeum is his most famous, even though he never finished the portrait. It was used to make the engraving that appears on the $1 bill today. Stuart also used the Athenaeum as a model when James Madison commissioned a portrait of George Washington in 1804, five years after the first president’s death. The 1804 Washington Portrait’s Long History Madison proudly displayed Stuart’s 1804 portrait of Washington for years, and it was eventually inherited by his son. By the 1850s, it had been purchased by businessman William Henry Aspinwall, and it was later owned by industrialist James W. Ellsworth and art collector William K. Bixby. Then, in 1951, it was gifted to Clarkson University in New York by Robert L. Clarkson, whose family had founded the institution. Public DomainGilbert Stuart’s unfinished Athenaeum Portrait of George Washington inspired both Stuart’s 1804 painting and the engraving on the $1 bill. In 1968, three members of the school’s Theta Xi fraternity stole the painting as a joke, thinking it was a reproduction. They quickly returned it when they learned the truth. As one of the men, Stephen Pazian, told The Washington Post, “We had the, ‘Oh, sh—’ moment.” All charges against them were ultimately expunged. Several years ago, the board of trustees at Clarkson University decided the painting may be better off elsewhere, as there is no art museum on campus. Now, the school hopes to use the proceeds to fund additional educational opportunities. In 2015, one of Stuart’s Athenaeum portraits sold for $1,062,500. The fact that this 1804 painting once belonged to James Madison only adds to its value, and experts expect that it will bring in anywhere from $500,000 to $1 million. After reading about the George Washington portrait that’s going up for auction, go inside the death of the first president. Then, learn seven shocking facts about the Founding Fathers. The post A Painting Of George Washington That Inspired His Portrait On The $1 Bill Is Heading To Auction appeared first on All That's Interesting.