LOT #22188 |
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Fr. 1191 $50 1882 Gold Certificate PCGS Extremely Fine 40.. ...
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Description
Fr. 1191 $50 1882 Large Red Seal Gold Certificate--The Only Example in Collector's Hands
Ex: Albert A. Grinnell
Fr. 1191 $50 1882 Gold Certificate PCGS Extremely Fine
40.William A. Rosecrans and James W. Hyatt had one of the shorter combined tenures as Register of the Treasury and Treasurer, from May 24, 1887 to May 10, 1889. It was in this short, two-year span that this note was printed, and likely issued. Currency collectors value signature changes as they more closely date the printing and issuing dates for Series that can span a couple decades or more. While this Signature change is vitally important, it is the large spiked red seal that is possibly more important. It was utilized only during this two year period, making it a major design type.
When we offered this note in 1999, as part of the Lawrence Cookson Collection, Len Glazer captured the excitement of the offering, "One of the most spectacular rarities in this or any collection, and the only example of its type in private hands. Four notes are known to exist, three of which are permanently impounded in government hands and this note, the fourth example, which is far and away the finest known. Its pedigree traces it from the Barney Bluestone sale of the Albert A. Grinnell Collection on March 10, 1945, where it realized $95, to the collection of James Stack. It reappeared as Lot 1799 of the Stack's March 15, 1990 sale where it realized $28,600." From that offering, it resided in the collections of Dr. Edward and Joanne Dauer, and then Joel Anderson.
There are few notes that have as illustrious of a pedigree as this, and for good reason. Only four examples of this important type note are known. This example is the nicest of the four, but the only example in collector hands. The others are impounded in the Smithsonian, and San Francisco and New York Federal Reserve Collections.
The large red seal was a central theme of his physical description of the note, "Few if any U.S. notes have the visual impact of this note and its companion Hundred. Four separate colors are used for the face printing, and all are at their full brightness on this magnificent note: the basic black background, blue for the serial numbers, orange for the overprint on the face and bright red for the seal in the center. Both the face and the back are perfectly centered among large, even margins. When last on the market, there were a few small pinholes and a tiny edge split which have now been so expertly repaired that this cataloger is unable to locate either minor problem."
This note may end up as the most important United States Banknote to be offered in 2024, and an offering that could be the last for a generation or more. Any collector lucky enough to acquire this note will be the newest in a heralded line of numismatists.
Auction Info
2024 January 10 - 12 FUN Currency Signature® Auction #3594 (go to Auction Home page)
Auction Dates
January, 2024
10th-12th
Wednesday-Friday
Bids + Registered Phone Bidders: 1
Lot Tracking Activity: N/A
Page Views: 1,384
Buyer's Premium per Lot:
20% of the successful bid per lot.
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