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Magnificent 1863 $100 Spread Eagle

Fr. 167a $100 1863 Legal Tender PCGS Choice New 63.
This magnificent Spread Eagle is an old friend. When we last sold it, we described it: "When we sold this note as part of Jim O'Neal's magnificent Type collection, we used the following description, 'When last on the auction block in 2000, this stately Spread Eagle $100 realized $88,000. A few years prior to that, we had the pleasure of handling this piece and at that time described it, 'This flawless Spread Eagle note traces its history to a Lyn Knight 1977 fixed price list. It then appeared in a Stack's 1989 auction, CAA's first auction in November of 1990, and the Andrew Shiva sale in May of 1995. Seven Uncirculated Spread Eagles are known for all six Friedberg numbers in total. Of these, one is in a museum and three have been off the market for several decades. This is one of only two Uncirculated Spread Eagles that has reached the auction market since 1947. It is fully Choice, with exceptional color and clarity of printing. The centering is outstanding for the issue, with all the margins clear of the design; in fact, were the centering just a bit better, this note would be fully Gem. It's also blessedly free of the usual edge problems and subsequent repairs that plague this thin-paper issue. This beautiful design is the classic of our early Federal notes, and it is missing in high grade from most major collections. We are very pleased to have the opportunity to offer this lovely note to a cadre of collectors who have never had the opportunity to purchase its equal.' Census figures have changed only slightly since that time, and opportunities to purchase Choice Uncirculated Spread Eagles are counted in groups of years rather than months.' Since the O'Neal sale, the current owner submitted the note to PCGS, and they agree with our grading. In the O'Neal sale, the note realized $115,000. The market has changed considerably over the past year and none of the new high-level entrants has yet had the opportunity to purchase a Choice Spread Eagle Hundred - making estimating this piece problematic at best. Ever equal to a challenge, we will try." At that April 2006 sale, the note realized $184,000. Since that time, no comparable spread eagle has sold. Only two Uncirculated notes of this number have been graded, both by PCGS.
From The Greensboro Collection

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Auction Dates
January, 2013
Internet/Mail/Phone Bidders: 3
Lot Tracking Activity: N/A
Page Views: 2,338

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