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    Rarely Seen High Grade Fr. 261 "Silver Dollar Back"

    Fr. 261 $5 1886 Silver Certificate PCGS Choice About New 58PPQ.
    The Series 1886 $5 Silver Certificates are iconic in numismatics due to their famed "Silver Dollar Back" design which features 5 Morgan Silver Dollars: one obverse flanked by two reserves on each side. The design reminded the bearers they could exchange the note for 5 silver dollars, which were deposited in the treasury. The notes saw favored status in circulation. Between attrition and redemption, survivors are few, especially compared to Morgan Silver Dollars. For the Morgan Dollar specialist that stumbles upon this offering, the total number of "Silver Dollar Back" $5 Silver Certificates known extant at this time for all 7 Friedberg numbers is less than an eighth of the number of 1893-S Dollars that have been submitted to NGC and PCGS.

    Four solid and even margins frame the deeply pressed design details on front and back. The colors are exceptional, and any minor bend present in the paper that would account for the less than Gem grade is invisible within the confines of the third party holder. The census reveals Uncirculated examples of the Fr. 261 are far less prevalent than the other 1886 $5 Silver numbers and Choice Uncirculated examples easily exceed five figures, with no recorded offering of a third party graded Gem anywhere. Any Choice CU price here this evening will not be a surprise to us, given the eye appeal and stunning originality.

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    Auction Dates
    August, 2015
    13th Thursday
    Bids + Registered Phone Bidders: 2
    Lot Tracking Activity: N/A
    Page Views: 991

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