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    Description

    Exceptional Fr. 822 $20 Atlanta FRBN
    Third Finest Known - Last Auctioned in 1996

    Fr. 822 $20 1915 Federal Reserve Bank Note PMG Extremely Fine 40.
    All $20 FRBNs are difficult to find as they had very limited printings. Only five districts issued this denomination, and a few of the types are great rarities. Mike Coltrane not only achieved the difficult five-district set, he also acquired some the rarest $20 Friedberg types such as the Dallas Fr. 830. This gorgeous 1915 $20 Atlanta represents the design type well. Common to the series is the left end face portrait of Grover Cleveland's 3/4 view bust; the treasury seal and serial numbers are in blue. Engraved signatures of Elliott and Burke are combined with those of Bell and Wellborn, which are stamped in blue, and an added blue stamping of "CASHIER" is under Bell's name. The specified ornate green back design displays two transportation-themed scenes titled Land, Sea and Air by Marcus Baldwin. The airplane depiction was the first engraved on a banknote.

    Cited in the E-Sylum and SPMC's "News & Notes," David Lok's article, Transportation Vignettes on the U.S. $20 Note of 1914 investigates the types of train, car, steamship, tugboat, and plane shown in Baldwin's vignette. While pointing out that the B.E.P. states that hybrids rather than specific products are represented on banknotes, Lok asserts that a comparison of contemporary advertisements and photos often does lead to a close, if not exact identification. In the case of the biplane shown, he notes that the fuselage is below two wings of approximately the same length and believes the model for the vignette to be the Benoist XIV. He writes: "the Benoist seaplane was the first aircraft in the world to provide regular passenger service" starting on January 1, 1914, a fact noted on airandspace.si.edu. Certainly, as the earliest illustration of an airplane on a banknote, this vignette serves as an introduction to the age of aviation.

    Track & Price reports nine serial numbers including this note, which we believe to be the third-finest known. Unlike many of the unheralded $5 and $10 FRBNs that have achieved their merited attention during the past dozen years, $20 FRBNs have always been a desired type and recognized rarity. Mike bought this from Lyn Knight's October 1996 PCDA sale (lot 492) for $2,832.50. We have not sold an Fr. 822 since August 2014. That former April 2008 Thomas Flynn Collection sale note (where it realized $92,000), PMG Very Fine 30, realized $21,150. This Coltrane Collection note, among the finest, is bright and vivid with only light handling. An elite note that is worthy of close attention.
    From The Mike Coltrane Collection.


    Auction Info

    Auction Dates
    June, 2021
    24th-25th Thursday-Friday
    Bids + Registered Phone Bidders: 15
    Lot Tracking Activity: N/A
    Page Views: 235

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