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    Extraordinarily Rare Fr. 192 - By Far the Finer or Only Two Known Examples

    Fr. 192 $50 1863 Compound Interest Treasury Note PCGS Very Good 10.
    One of only two known examples of this Friedberg number and by far the better of the two. The other piece has been missing for decades and has been described as "Poor-laminated" in the Gengerke Census. That note has been traced to the Schermerhorn Collection in 1955 and has been off the market since 1977. This note appeared at auction in 1996 and has been off the market since. The Friedberg Catalog erroneously includes Fr. 192 as the final Compound Interest $20 Treasury Note when it is actually the first signature combination of the $50 Compound Interest Treasury Notes. It is also the only $50 Compound Interest Treasury Note to bear the Act of 1863 date. This note has been off the market for over 20 years, and its whereabouts were unknown. We are very pleased to offer the note to a generation of collectors who have never had the opportunity to acquire either of the Fr. 192s. The 192a which follows this note bears the same signatures but has the overprint date of July 15th, 1864 and the act date of 1864. Fr. 192a is listed in the Friedberg reference, but all known examples are actually counterfeits. The 192b is Series of 1864 and bears the signatures of Colby and Spinner and overprint dates ranging from August 15, 1864 to September 1st, 1864. The 192b is the "common" $50 Compound Interest Treasury Note with 18 examples known. Track & Price simply lists this Fr. 192 as two known with no comment as to grade or whereabouts. There are no price records to rely on for Fr. 192, but the 192b's that have sold over the last 20 years have all brought from about $20,000 to $35,000 with two exceptions, both being VF 30s and realizing $129,000 and $141,000 respectively. PCGS has graded this note Very Good 10 with the comment "Restorations." We can spot two, both extremely minor and well executed. The note is solid for the grade with more than acceptable margins, no tears or problems, and an overprint that remains more gold than green. Handsome would be a stretch, but the magnetism of the extraordinary rarity combined with a perfectly acceptable appearance will make this note irresistible to the serious Friedberg number collector. While we truly have no idea where this note will wind up tonight, we are certain of two things: First, with an opening of $30,000, it will certainly sell, and secondly, once it sells, there will be no opportunity to add a Fr. 192 to your holdings until this very note sells again.

    Auction Info

    Auction Dates
    Apr-May, 2017
    26th-2nd Wednesday-Tuesday
    Bids + Registered Phone Bidders: 10
    Lot Tracking Activity: N/A
    Page Views: 645

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