Fr. 316 $20 1886 PCGS Gem New 66 PPQ Undoubtedly The Finest Known

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Large Size Type Notes > Silver Certificates

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Fr. 316 $20 1886
Grade: PCGS Gem New 66 PPQ    

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Design 77b. Small red seal. Our Memphis 2002 catalog description included the following description from a CAA sale in January 2001 (Lot 1565). That description read, "A newly discovered, uterly spectacular note with broad even margins, beautiful paper surfaces, ideal centering of both sides and the color, brightness, and eye appeal that it had the day it was made. We've sold only two Fr. 316s, both of which were low grade. The only uncirculated 1886 $20 that we've handled was a Gem New Fr. 315, which we sold in May 1999 for $93,500. Fr. 315 and Fr. 316 are equally rare, with just about 20 examples known of each. With the appearance of this piece, there are now two Uncirculated examples known for each of the numbers. When all 1886 twenties are combined (Fr. 313 through Fr. 316), only a half-dozen uncirculated pieces are known to exist. This note, in our opinion, is a hair finer than the Fr. 315 that set a record price a year ago May. It's certainly the finest Fr. 316 known to us and it is likely to reach or exceed the estimate." Current census reports 27 notes known with this note being the finest. There is another Uncirculated note listed in the census but it has not been seen for some time and the exact quality is not known. High quailty examples of this type, regardless of the seal color, have brought six-figures as far back as the late 1990s and today are considered classic rarities. They remain highly prized by both those who own them and those who want to own them!

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