Auction Name: 2026 April 28 - May 1 CSNS U.S. Currency Signature® Auction

Lot Number: 20046

Shortcut to Lot: HA.com/3601*20046

T17 $20 1861 PF-1 Cr. 99 PMG Choice Extremely Fine 45 EPQ.
Only 43,732 examples of this type were issued from September 14 through November 5, 1861, before production was dropped in favor of the more common T18. This Hoyer & Ludwig lithographed note features a depiction of Liberty with her pole and cap at left and a vignette of three allegorical females at center. From left to right, they can be identified as Commerce, Ceres, and Navigation. To add color as well as deter would-be counterfeiters, the printers also added a breathtakingly intricate green underprint which depicts cherubs leaning on pillars at both left and right as well as a large "TWENTY" and "20" at lower center. While examples of this type are notorious for uneven margins, this representative bears largely even margins with a full inner frame line. While fairly available in the F-VF range, this type is becoming quite challenging to acquire at the XF and higher levels without any meaningful condition impairments. Due to its brilliant white paper, vibrant green underprint, and darkly penned signatures and serial numbers, this piece has achieved PMG's EPQ designation. We are not often privileged to offer a T17 example this nice, an affirmation that will likely be reflected by this piece's final realization.

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