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    Description

    Extremely Rare Fr. 212 $50 "Seven-Thirty" Interest Bearing Note
    Ex: Anderson and Grinnell Collections

    Fr. 212 $50 Act of June 30, 1864 Three-Year 5% Interest Bearing Note Hessler X145A. PMG Very Fine 20 Net.
    Another extremely rare Interest Bearing note from a later series. These so called "Seven-Thirties" paid 7.30% interest and featured five coupons at the right end. The final interest payment was paid with the principal. As a high denomination note, understandably quite elusive. The large size census lists seven examples including those not available. Among the five series numbers recorded on Track & Price is this regally pedigreed note that traces back to the Albert Grinnell collection. It was also the first edition Friedberg plate note and used in several subsequent black and white printed editions.

    A beautifully rendered design and engraving by the Treasury Department; the imprint in green is at the bottom center. The size of the $50 principal is larger than the initial Demand Notes and Legal Tenders. Green framework surrounds the note with INTEREST ONE CENT PER DAY in white on green at the top center. At bottom center, a cartouche contains text explaining the coupons. The Gothic UNITED STATES title is bisected by a large eagle engraved by Henry Gugler that resembles the "Jackass" style eagles seen at the base of $10 Legal Tender notes. A pair of green guilloches is bisected by the denomination. There are red serial numbers, the treasury seal is at far right, and the engraved signatures are those of Colby and Spinner. The green back has outlined "50" dies with a central perpendicular cartouche for endorsement.

    This plate position A presents very well, with vibrant and fresh green color. The margins are close in some areas, but overall sufficient. PMG notes "Restoration," but that is not readily apparent. An important note that returns to our auction arena after 21 years. It had not appeared until just over two years ago. Ex: Stack's Bowers, March 2019 sale, lot 4022 (realized $132,000); Joel Anderson Collection; our Currency of America, 2000 FUN sale, lot 1723D (realized $24,200); Kagin's, August 1977 ANA sale, lot 3497; Rarcoa, August 1970 sale, lot 1707; Barney Bluestone, Albert A. Grinnell Collection, November 1944, lot 230. A celebrated pedigree chain and one of the major highlights in this Mike Coltrane Part 2 sale. This is only the tenth Fr. 212 offering in 22 years. Another key opportunity in this sale to acquire an American currency classic.
    From The Mike Coltrane Collection.




    Auction Info

    Auction Dates
    June, 2021
    24th-25th Thursday-Friday
    Bids + Registered Phone Bidders: 15
    Lot Tracking Activity: N/A
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