Only Seven In Private Hands Fr. 378 $100 1891 Treasury Note

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Large Size Type Notes > Treasury Notes

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Fr. 378 $100 1891
Grade: F/VF    

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The open back coin note of 1891 is one of the rarest of all major type designs. It was created when the ornate back designs were originally created for Treasury note which were replaced with simpler, more open field backs. Collectors have often opted for only the watermelon note in this series because they are attractive and the open backs have never been available for long as there are only seven in private hands, with one of those unaccounted for. As the story goes, many years ago four of the notes were found pinned to the inside pocket of an indigent man's coat but they had been singed on the edges. I have personally had the edges restored on several, including this note that came from the collection of the First National Bank of Davenport, Iowa when I acquired it in 1995. The overall appearance looks a bit light, but quite frankly it is a pretty decent example for the type. I sold an XF at $154,000 in June 2000 that was previously from the Levitan Collection. CAA sold a note, similar to this one for what I recall was $126,500.

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