LOT #21224 |
Sold on Sep 15, 2023 for: Not Sold
Fr. 378 $100 1891 Treasury Note PMG Fine 12.. ...
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Description
Rare $100 1891 Open Back Treasury Note
Fr. 378 $100 1891 Treasury Note PMG Fine 12.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 $1,000 denomination also, creating one of the ultimate rarities. The 1891 $1,000 Treasury Note with the open back is unique in collector hands and sold ten years ago for $2.5 million.
This exceedingly rare type note is often overlooked in favor of the coveted "Watermelon" type. However, it is much scarcer, as according to the latest census, a total of thirteen surviving examples makes it outnumbered by its $100 "Watermelon" sibling by a factor of almost three to one. Also, the number of thirteen surviving examples is misleading, since nearly half of the notes are unavailable and part of permanent institutional collections. The last outing for for an example of this Friedberg was in our recent FUN auction when a restored PMG Very Fine 25 note realized $168,000. 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.
View Certification Details from PMG
Auction Info
2023 September 13 - 15 Long Beach Expo US Currency Signature® Auction #3593 (go to Auction Home page)
Auction Dates
September, 2023
13th-15th
Wednesday-Friday
Bids + Registered Phone Bidders: 2
Lot Tracking Activity: N/A
Page Views: 908
Buyer's Premium per Lot:
20% of the successful bid per lot.
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