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    First Obligation Spread Eagle Hundred

    Fr. 165 $100 1862 Legal Tender PMG Very Fine 25. Thirteen examples of this note are known, and to date, this is the highest example graded by either service. A PCGS 12 realized $27,600 in October 2005. This is the only example of this number that PMG has graded. The 25 grade is a Net grade that has been lowered due to "Corner and Margin Repair." None of the repairs appears significant, and they are typical for all denominations of these early Legal issues since the very thin paper had a tendency to chip and split at its edges. According to the Dauers' book, the appearance of the American eagle on this note was its first use on Federal currency. Both sides of this note are illustrated on page 116. The $27,000 price realized by the PCGS 12 in 2005 is the record for a Fr. 165. That should be very easily eclipsed when the hammer falls tonight on this handsome example.
    From The Dr. Edward & Joanne Dauer Collection

    View all of [The Dr. Edward and Joanne Dauer Collection ]

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    Auction Dates
    September, 2007
    26th-28th Wednesday-Friday
    Bids + Registered Phone Bidders: 2
    Lot Tracking Activity: N/A
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