This Serial Number 7 1891 $50 Treasury Note is a rare type that was valid only for one year and is the finest of all the existing examples.
It is the Plate C note from the second sheet, featuring a low serial number B7 and a red star. William Henry Seward’s portrait is positioned at the centre with a big 50 counter in an ornamental panel. Other elements include a red scalloped Treasury Seal and engraved signatures of Rosecrans and Nebeker. The reverse design is open as per the theme of all 1891 Treasury Notes. The corners feature Denominational counters.
Experts believe that this note was treasured as a souvenir by a VIP. It has well-centred designs with big margins while the elements are intricate and dark. The verso highlights original plate and overprint embossing. Graded PCGS Gem New 65 PPQ holder, it is the only example of the type to get Gem grade.
22 examples exist in total, out of which, 6 are a part of government collections, one is showcased at ANA museum and the remaining 15 are with collectors. A total of 80,000 such notes were printed, 23,500 were distributed and 25 notes are outstanding.
No 1890 $50 Treasury Notes were printed making 1891 notes unique. They are a key to the large size federal type series and are highly sought after by collectors. The note will be offered with an estimated value of $400,000 to $500,000 by Stacks and Bowers at their Part II sale of Joel. R. Anderson collection.
Image Courtesy: Stacks and Bowers