Skip to main content
Go to accessibility notice

    Description

    Fr. 16a $1 1862 Legal Tender PMG Extremely Fine 40.
    A crisp and colorful Series 215 Act of July 1, 1862, Legal Tender $1 note featuring Secretary of the Treasury Salmon P. Chase. In order to thwart counterfeiters, the National Bank Note Company intricately engraved the face plate and made use of many of Cyrus Durand's patent devices. National Bank Note obtained several prestigious and lucrative government contracts for security printing prior to the formation of the Bureau of Engraving and Printing. Curiously, this firm also engraved and printed the first Confederate States series notes in 1861. The green guilloche is intriguing as there is a solid row of black printed dies underneath denoting the $1 denomination; this device, created to deter denomination raising, was initially patented by Durand for use on Obsolete banknotes of the period. Another inventive method to prevent raising was applied in the circular device at bottom center where "1" at the top is surrounded by a white circle to specify the denomination. The "3" seen on the same vertical row indicates a contemplated $3 note, a common denomination used by private banks at the time in commerce. PMG notes some "Splits," but three margins are ample.
    From The Mike Coltrane Collection.


    Estimate: $400 - $600.

    Auction Info

    Proxy Bidding Ends
    June
    25th Friday 9:50 am CT
    Auction Dates
    June
    24th-25th Thursday-Friday
    Proxy Bidding Time Remaining
    2 Days 14h 42m 20s
    Bids + Registered Phone Bidders: 16
    Lot Tracking Activity: 16
    Page Views: 141

    Buyer's Premium per Lot:
    20% of the successful bid (minimum $19) per lot.

    This lot is in: 2 - Heritage Signature® Auctions Internet Session - No Floor or Phone Bidding (Mail, Fax, Internet, and Heritage Live):
    (Lots 20301-20856) - 10:00 AM Central Time, Friday, June 25, 2021.
    (Proxy bidding ends ten minutes prior to the session start time. Live Proxy bidding on Heritage Live starts 7 days before the live session begins and continues through the session.)

    Show All Session Information

    Show Auction Type Info

    Exhibition Viewing Times, Title Page, Floor Session and License Information

    Additional Location Info:
    Heritage Auctions
    2801 W. Airport Freeway
    Dallas, TX 75261



    Current Bid:
    $380
    Bid Protection
    w/ Buyer's Premium (BP) : $456.00 Minimum Next Bid: $390 ($468.00 w/ BP)
    Track Item