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    Description

    Finest "for the" Demand Note Known

    Fr. 1a $5 1861 "for the" Demand Note PCGS Extremely Fine 45PPQ.
    The finest "for the" Demand note and, in our opinion, one of the most historic Large Size rarities known. When Demand notes were first printed, the words "Register of the Treasury" and "Treasurer of the United States" were printed at the bottom of the note below the signature lines. The Treasury clerks, who were authorized to sign for these officials, added the words "for the" after their signatures. After a short while, it was realized that the words "for the" should be added to the plate in front of "Register of the Treasury" and "Treasurer of the United States," to save a considerable amount of time and effort on the part of the signers. Only ten examples of Fr. 1a are known to exist--this note and one other are EFs, the eight others all grade Fine-Very Fine and lower. The last Friedberg 1a that we sold was in September 2008 where it was graded PMG Very Fine 20. That piece realized $23,000. This note is worlds finer. It is a three-fold EF with excellent margins, perfect colors, bold hand signatures, and the "for the" in front of "Register" and "Treasurer" is dark, clean, and clear. Even if this were a Fr. 1 (the printed variety with over 100 known), it would be in the top half-dozen known for grade. Old time collectors considered these "for the" Demand notes to be the pinnacle of Large Size currency collecting, and this note is the very best of the Type. In its last appearance in May 2007, the note realized the runaway price of $138,000. While that number may prove to be out of reach on the current market, we have been surprised before when truly great notes such as this cross the auction block.
    From The Greensboro Collection


    View all of [The Greensboro Collection ]

    Auction Info

    Auction Dates
    January, 2013
    9th-14th Wednesday-Monday
    Bids + Registered Phone Bidders: 2
    Lot Tracking Activity: N/A
    Page Views: 1,041

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