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    Attractive and Scarce $20

    Fr. 191a $20 1864 Compound Interest Treasury Note PCGS Apparent Very Fine 30.
    Colby-Spinner signed $20 Compound notes were issued with five different dates printed in red near the cannon. A total of 90,4000 notes were issued with this Dec. 15, 1864 date. The interest bearing nature of the notes meant they were redeemed in great numbers leaving an average of about a dozen notes known for each date.

    Since Compound Interest Treasury Notes were always of great interest to advanced currency collectors, they carried sizeable premiums over face value and as a result, many of them were subject to improvements. This exceptional piece boasts eye appeal that is rarely equaled by survivors of this issue. In its last appearance, we described the physical attributes in part, "The bronze overprint has not darkened, and the red, black and green inks of the note are fully bright." In the last 5 plus years, only one other note could compete with this surviving example, a PCGS Apparent 40 that sold in late 2012 for $37,375. None of the pieces at auction have been offered in a grade above EF and the lone purported AU has yet to face the rigors of today's third party grading standards. If history is repeated, this example is as fine as one will find for many years to come.

    Auction Info

    Auction Dates
    Apr-May, 2016
    27th-2nd Wednesday-Monday
    Bids + Registered Phone Bidders: 4
    Lot Tracking Activity: N/A
    Page Views: 737

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