LOT #22027 |
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Fr. 2 $5 1861 Demand Note PMG Gem Uncirculated 65 EPQ.. ...
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Sold on Jan 16, 2025 for:
$396,000.00
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Description
Finest Fr. 2 Known
Fr. 2 $5 1861 Demand Note PMG Gem Uncirculated 65 EPQ.Sixty-four Fr. 2 notes have been examined by PMG, but the piece in this lot is the highest PMG graded example by 25 grade points. Also, the highest graded example by PCGS Banknote is an XF 45. A further look at Track & Price reveals that they have listed two PCGS 66 EPQ notes, but one is a Proof and the other has a serial number that cannot be a Fr. 2. Therefore, we will crown our current offering the finest Fr. 2 known. It is a Series 7 $5 that is strictly original with both excellent color and natural paper wave that rolls across the back. The "for the" signatures of W.A. Croffit and H.H. Hall are dark and easily readable.
Demand notes were printed on thin paper that did not take kindly to everyday circulation. Luckily, the note in this lot must have been put aside immediately in order for it to earn PMG's rarely seen triple accolade of, "Exceptional Paper Quality, Color & Embossing." A great note that was once part of The Brookdale Collection that was auctioned in 1979. Its next offering was Heritage's June 1987 auction as lot 4029. We speculated that it was the finest known example in that long ago catalog description and that holds true today. It would have three more auction appearances in the 21st century culminating with a winning bid of $408,000 in March 2023. In the year 2014, we had three different unique or Serial Number 1 $10 and $20 Demand Notes in PMG grades of 15 Net-30 EPQ receive winning bids in the neighborhood of $305,000 to $411,000. Our current $5 offering should be included in that select club due to being the finest Fr. 2 known.
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Auction Info
2025 January 14 - 17 FUN US Currency Signature® Auction #3597 (go to Auction Home page)
Auction Dates
January, 2025
14th-17th
Tuesday-Friday
Bids + Registered Phone Bidders: 4
Lot Tracking Activity: N/A
Page Views: 3,894
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