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    Fr. 13 $20 1861 Demand Note PMG Very Fine 20 Net. Only four Fr. 13s are known from a total of twenty-six $20 Demand Notes reported for all numbers combined. Ten of those are Fr. 12. $20 Demand Notes reach the market with such infrequency that most collectors enter and leave the hobby without ever having the opportunity to purchase one. The three $20s in the Dauers' magnificent collection afford a once-in-a-lifetime opportunity for the advanced collector of Large type. This is the first Fr. 13 to be third-party graded by either major service--none has been graded higher than 20 when sold raw in any of the very few auction appearances that these notes have had. This note last sold at auction in May 1999 when it realized $36,800. It is the ex Grinnell note, and while it does have a few minor restorations, they have been done with consummate skill and are undetectable to all but the most trained eye. The highest price recorded for a Fr. 13 at auction was in November 2006 when a note, somewhat lower than this in quality, realized $92,000. This piece should certainly equal, and will very likely exceed that realization.
    From The Dr. Edward and Joanne Dauer Collection

    View all of [The Dr. Edward and Joanne Dauer Collection of Demand Notes ]

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    Auction Info

    Auction Dates
    September, 2008
    17th-21st Wednesday-Sunday
    Bids + Registered Phone Bidders: 1
    Lot Tracking Activity: N/A
    Page Views: 1,035

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