Lot 3440
1880, $20 United States Note. . Fr-136. . KL-535. PMG Gem Uncirculated 65, Exceptional Paper Quality. A gorgeous specimen featuring large red spiked shield and blue serial numbers. Rosecrans and Hyatt signatures. Fresh white paper gives a lift for the brilliant colors on both sides, with gem-level indicators everyplace one cares to examine it. The Legal Tender (or U.S. Note) type harkens back to the 1862-63 Civil War era as the first "greenbacks." Following restoration of gold money in circulation in 1879, the government passed a law to limit the amount of Legal Tender notes in circulation to a set amount. This amount is still the law today, more than 120 years later (although you will rarely if ever see any of the modern Red Seal Legal Tender notes in circulation, most are held by the Federal Reserve system). An historic offering of this popular Type.
Estimated Value $4,000 - 5,000.
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| Realized $5,520 |
