Lot 3479
1890, $5 Coin Note. . Fr-361. . KL-255. PCGS graded Gem New 65. A fabulous example of "the Rock of Chicamauga" with the earliest style reverse, a popular Type due to its ornamental engine-turned design and colorful aspects. These notes were in circulation for a short while. The government discovered they were part of a speculator's arbitrage scheme to drain the U.S. Treasury of its dwindling gold reserve. Within a few years, Congress acted by abolishing the Act that had authorized Treasury or Coin Notes. Very few Gems survive of the 1890 series.
Estimated Value $10,000 - 12,000.
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| Realized $9,890 |
