Fr. 172 $100 1880 Legal Tender PMG Choice Uncirculated 64 EPQ....

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Rare and Lovely PMG Graded Choice Uncirculated 64 EPQ Fr. 172

Fr. 172 $100 1880 Legal Tender PMG Choice Uncirculated 64 EPQ. Fr. 172 is one of only two Friedberg numbers of this type, which features a quite striking large brown seal and blue serial numbers. It's also the only one ever available in this state of preservation, as Fr. 173, its large brown seal compatriot, is unknown in higher than Extremely Fine. The Fr. 172 census stands at only eleven pieces, but is skewed by a run of five consecutively numbered uncirculated examples, with this number the second in that run. One of the notes is damaged, leaving only four truly uncirculated examples for collectors to divide. The last offering of any of the undamaged examples came back in 2005, when a PCGS graded Gem Uncirculated 65PPQ realized $109,250. The note we offer tonight is housed in a PMG Choice Uncirculated 64 holder, with the comments "Exceptional Paper Quality, Great Embossing" on the holder, which also notes that this note's pedigree is "Ex-Philpott," referring to William Philpott, the long time Secretary to the Texas Bankers Association who became one of the pioneer collectors and dealers in U.S. paper money in the 1930's. It is an enormously eye catching piece, with vivid colors, bright paper, and evident originality, and, in today's market for truly rare notes, we would not be at all surprised to see a realization very close to or even within the low six figure mark.