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    Beautiful $100 Rainbow Legal Tender Note

    Fr. 168 $100 1869 Legal Tender PCGS Extremely Fine 45.
    The Series 1869 "Rainbow" Legal Tender notes were produced in denominations from $1 through $1000. The higher denominations are prohibitively scarce, with the $500 and $1000 each represented by a lone survivor. Fewer than 30 survivors of the $100 denomination are enumerated in the census, with a third of the recorded pieces either previously unoffered or locked up in institutional collections belonging to the American Numismatic Association, Federal Reserve, or Smithsonian.

    Our records indicate this note was first offered to the collecting public as part of a 1971 Donlon fixed price list. Up until recently, it was listed time and again as a fully uncirculated note with little argument. The technical grade assigned by PCGS indicates there are folds, perhaps light bends, that have long failed to affect the paper whatsoever. The fully uncirculated appearance, wide margins, and excellent colors earned it a spot as the plate note in the Hessler and Chambliss reference, The Comprehensive Catalog of U.S. Paper Money.

    In 2007, we sold the example just four digits removed from this serial number. It was a beautiful PMG Extremely Fine 40 EPQ that sold for $184,000 as part of the Dr. Edward and Joanne Dauer Collection. This piece also traces its pedigree to that collection and was also chosen by the Dauers to illustrate the type on page 118 of their book. With all the eye appeal of a fully uncirculated note, a wonderful pedigree and few examples that can best it in terms of appearance, we would not be surprised to see another realization in the neighborhood of the Dauer example in 2007.

    Auction Info

    Auction Dates
    February, 2012
    3rd Friday
    Bids + Registered Phone Bidders: 5
    Lot Tracking Activity: N/A
    Page Views: 4,793

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