Incredibly Colorful 1869 $50 Rainbow

    Fr. 151 $50 1869 Legal Tender PMG Very Fine 25.
    The incredible colors and eye appeal of this rare 1869 Rainbow Fifty are startling when one glances up and sees the assigned 25 grade. Although the grade is accurate, the note has the look of an About New example. PMG has commented, "Tear Repairs, Splits," and they are correct although both are minor. The portrait is one of the few on US currency that is not identified in print. It is Henry Clay, who was a Congressman then Senator, and finally Secretary of State in the late 1820s. He was also an unsuccessful candidate for the presidency on three separate occasions. Track and Price indicates 65 known examples, which is well in excess of the number of notes considered outstanding by the Treasury. This is explainable by the fact that there are exceedingly good counterfeits of this design type, and they have a way of working into the census figures. This is the only type where this happens with any frequency, as most counterfeits of this era are of rather poor quality, easily detected, and never reported as genuine to the census takers.
    From A Private New York Collection, Part II

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    Auction Dates
    January, 2017
    4th-10th Wednesday-Tuesday
    Bids + Registered Phone Bidders: 3
    Lot Tracking Activity: N/A
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