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Fr. 378 $100 1891 Treasury Note PMG Fine 12 Net....
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Sold on May 1, 2009 for:
$63,250.00
Bid Source: Live: Floor bidder
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Description
Scarce $100 Coin Note
Fr. 378 $100 1891 Treasury Note PMG Fine 12 Net. Due to rampant counterfeiting, the U.S. Treasury abandoned its beautiful and ornate 1890 Treasury Note back designs for a more anti-counterfeiting friendly design. The design features open areas where colorful paper fibers could be seen with ease. Treasury Notes were only issued for a short time after the change and far fewer were issued than of the 1890 Series. The design change occurred for the $1000 denomination also, creating one of the ultimate rarities. The 1891 $1000 Treasury Note with the open back is unique in collector hands and sold a couple years ago for $2.1 million.This exceedingly rare type note is often overlooked in favor of the coveted "Watermelon" type. It is, however, much scarcer and according to the latest census a total of twelve surviving examples makes it outnumbered by its $100 "Watermelon" sibling by a factor of three to one. A number of twelve surviving examples is misleading when nearly half of the notes are unavailable and part of permanent institutional collections. The last outing for this note was back in 2006 where it realized $69,000. Since then, only one other example has sold at auction, a PMG Very Fine 20 which realized $126,500 a few months later. PMG mentions restorations which are reinforced corners and a little bit of margin work. The body of the note is essentially unaffected, leaving the design details as they were printed.
From The Sky Room Collection
Auction Info
2009 April/May Cincinnati, OH (CSNS) Signature CAA Currency Auction #3505 (go to Auction Home page)
Auction Dates
Apr-May, 2009
29th-3rd
Wednesday-Sunday
Bids + Registered Phone Bidders: 1
Lot Tracking Activity: N/A
Page Views: 4,108
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15% of the successful bid per lot.
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