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    Rare Fr. 191a $20 Compound Interest Treasury Note

    Fr. 191a $20 Act of June 30, 1864 Three-Year 6% Compound Interest Treasury Note. Hessler X140B. PMG Very Fine 20.
    This higher-denomination Compound Interest Treasury Note is rare and less encountered than the previous $10 example. Track & Price currently lists 64 notes on their census, generally in this grade or less. There are only a few high-grade pieces extant, and none are uncirculated. Off the market for over 25 years, this is a pleasing example.

    Printed by the Treasury Department using some dies crafted by the American Bank Note Co. New York and the National Bank Note Company, but without their imprints. An intricate frame with small "20" dies and upper corner denominations contains the designs. At top center are curving Gothic titles and the partial obligation. At the left side, the seated female allegorical vignette Victory, with hair blowing in the breeze, holds a laurel crown. At bottom center, just above the act date, is Mortar Firing, engraved by James Smillie. The right end shows a small vignette of Henry Gugler's Lincoln portrait. The red treasury seal and serial number are at upper right; the stamped red (issue) date is at lower right. In the lower corners, the motto GOD AND OUR RIGHT is at left and IN GOD IS OUR TRUST is at right. The bronzed COMPOUND INTEREST / TREASURY NOTE / overprinting is across the center, and the "20" is at lower right. Engraved Colby and Spinner signatures are at the bottom. On the ornate green back are outlined "20" dies flanking a cartouche with the interest payable table for the denomination. The maximum payable at three years is listed as "$23.88."

    A plate position D note with the red stamped Aug. 15, 1864, date. The note has circulated readily, but is a comment-free holder. There is a small patch of foxing at the bottom center. The bronzing glimmers in several areas on this fully framed note with a wide bottom sheet margin. A trivial inverted "30" annotation is in the back bottom margin. Ex: our Currency Auctions of America, June 1994 sale, lot 1657. This example compares favorably with the PMG Very Fine 25 (with "Restoration") we sold in September 2020 for $9,300. A splendid opportunity to acquire this tough type essentially new to our current collector community after over 25 years.
    From The Mike Coltrane Collection.

    Auction Info

    Auction Dates
    June, 2021
    24th-25th Thursday-Friday
    Bids + Registered Phone Bidders: 17
    Lot Tracking Activity: N/A
    Page Views: 277

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