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Fr. 375 $20 1891 Treasury Note PMG Gem Uncirculated 65 EPQ.. ...
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Sold on Oct 6, 2022 for:
$12,000.00
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Description
Gem $20 1891 Treasury Note
Fr. 375 $20 1891 Treasury Note PMG Gem Uncirculated 65
EPQ.A Gem note that has previously had only one other auction appearance and that was when we offered it at our January 2012 FUN auction. It was won by our consignor and returns to our auction block once again. This $20 Treasury Note is from the beginning of a run of high grade examples that have supplied the collector community for years with notes in the 64 to 67 grade range. This plate letter A example has three wide margins, ideal color, and "United States" at top center has produced embossing on the back that help this piece earn the highly respected "EPQ" grade modifier. The portrait is of John Marshall who served as the fourth chief justice of the United States from 1801 until his death on July 6, 1835. This Friedberg number is of the Series 1891 Open Back design as compared to the earlier Series 1890 Ornate Back design. The change in series was necessitated due to the adoption of a new type of security paper supplied to the BEP by the Crane Paper Company. The new paper had two prominent vertical bands of red and blue fibers. The earlier paper in use between 1880 and 1891 had two horizontal threads plus small red and blue fibers distributed throughout the paper. The two large open areas on the backs of Series 1891 Treasury Notes allow viewing of the vertical bands. For more information on this interesting, yet short-lived class of notes, see, Paper Money, "The Origin and Demise of the Treasury Notes of 1890 and 1891", Volume LXI, Whole No. 339 May/June 2022, pages 162-77.
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Auction Info
2022 October 5 - 7 Long Beach Expo US Currency Signature® Auction - Long Beach #3589 (go to Auction Home page)
Auction Dates
October, 2022
5th-7th
Wednesday-Friday
Bids + Registered Phone Bidders: 7
Lot Tracking Activity: N/A
Page Views: 209
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20% of the successful bid per lot.
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