Silver Certificates - Lots 113-166
The Harry W. Bass, Jr. Collection - Part I
Silver Certificates - Lots
113-166
Silver Certificates
The series of Silver Certificates is a latecomer to American notes, with authorization under two acts, the first on February 28, 1878 (the Bland-Allison Act, a discussion of which will be found under the pattern dollar coins of George T. Morgan, 1878), and the second on August 4, 1886. The notes themselves were first issued under the authorization of 1886.
Under the greatest of all numismatically related boondoggles in the history of American legislation, the Bland-Allison Act called for Uncle Sam to buy millions of ounces of silver each year, to support the badly sagging metal market, and to coin the bullion into silver dollars. Trouble was that there was no need for so many coins in circulation. Unwanted silver dollars piled up in Treasury vaults. Years later (1930) financial historian Neil Carothers wrote of the situation:
The North and East would have none of them [the silver dollars]. With the increasing annual coinage, the volume returned to the Treasury in tax payments steadily increased. In 1886 Secretary Manning, anxious to keep them out of the Treasury, devised a clever scheme to transfer their ownership to people even while they remained in Treasury vaults. This was to issue Silver Certificates, then issued in large bills, denominations small enough to insure wide circulation. At Manning's suggestion Congress passed the law of August 4, 1886, providing for the issue of $1 and $2 Silver Certificates. They were merely receipts entitling the owner to claim the dollars lying in the vaults. They were not Legal Tender, but carried with them the ownership of silver dollars that were Legal Tender. The notes were much like the familiar greenbacks and were readily accepted.
Despite all good intentions, the government was literally swimming in silver dollars. The 1887 Mint Report included this poignant commentary:
[Concerning the overwhelming quantities of dollars on hand] resort is still had to temporary and inefficient expedients for want of vault facilities, to which attention was called in my last two fiscal reports. There are still at the Post Office building 21,750,000 silver dollars in the charge of the superintendent of the Mint, and for which this officer is held responsible.
Compartment vaults in which the coin could be sealed up are very much needed at this mint, as well as at the other mints of the United States. Such a provision would avoid the constant re-weighing of the immense amount of coin now stored at these institutions. It would especially do away with the important loss which necessarily results from handling the precious metals in such large quantities on occasions like the annual settlements or changes in fiduciary officers.
Coin once weighed and sealed up in compartments would not be disturbed except when needed by some other institution, or by some other branch of the Treasury Department. Experiment has shown that the loss by abrasion in handling $1,000,000 in gold coin [such as that being held as backing for Gold Certificates, Series of 1882] is $5 for every handling, even when the utmost care is exercised, and that the loss is absolute. It is estimated that at the annual settlement and other counts the weighing of the bullion and coin requires no less than eight handlings.
The problem continued, until 1918, when the Pittman Act provided for the melting down of over 350,000,000 long-stored dollars. Subsequently, The Numismatist reported this in October 1921:
When all those dollars were melted the United States had to call in all the Silver Certificates-the $1, $2, and $5 bills, to speak in common lingo-representing the dollars that were deposited in the vaults of the mints. Under the law of the land the Treasury must hold a silver dollar for each dollar Silver Certificate issued. So with the melting of the silver dollars the Silver Certificates had to be recalled. To cover that loss in currency, the government issued short-term certificates of indebtedness bearing 2% interest. The silver dollars now being coined allow for the issuance of new Silver Certificates which are being used in calling in those certificates of indebtedness.
This present commentary is not one about politics, or else we would go into detail concerning the inexplicable (to the present writer) situation of later in 1921, and continuing until 1935, when hundreds of millions more silver dollars were minted, and more Silver Certificates were issued.
Years later, in March 1964, the government ran out
of silver dollars in storage, this after a run up in the price of silver bullion
caused many to be hoarded or melted. Uncle Sam repudiated his obligation, as per
usual on many types of currency, and today someone with an old Silver Certificate
stating that the government will pay a silver dollar in exchange for it can go whistle.
113 $1 F-215. Silver Certificate. Series of 1886. Rosecrans-Jordan. Serial: B1130160. About Uncirculated-58 (CGA). A delightful fancy-back note with bold colors and a fresh, crisp paper. The top margin is tight but does not interfere with the design border. A light corner fold is noted. Vignette of Martha Washington.
The famous "Martha Washington note," the first $1 Silver Certificate issued. These were produced from 1886 through 1896, though only issued in two different series, those of 1886 and 1891. The new series in 1891 reflected a major design change of the back, eliminating the heavily ornate fancy vignetting in favor of a somewhat more open design.
From RARCOA.
114 $1 F-219. Silver Certificate. Series of 1886. Rosecrans-Huston. Serial: B62630838. Choice Uncirculated-64 (CGA). The printing is a trifle crooked, otherwise a Gem note. Bright, crackling fresh and well margined on both sides. One of two signature combinations featuring the large brown Treasury Seal.
From Lester Merkin's sale of October 1972, Lot 213.
115 $1 F-223. Silver Certificate. Series of 1891. Tillman-Morgan. Serial: E16821849. Choice Uncirculated-64 (CGA). Light rippling of the paper is noted where one-third folds are often found. Still worthy of the grade assigned. Bright and well margined with some original embossing still visible.
From the Robert F. Schermerhorn Collection.
116 $1 F-226. Silver Certificate. Series of 1899. Date above. Lyons-Roberts. Serial: 11134944. Choice Uncirculated-64 (CGA). Pleasing for the grade. A few light ripples in the paper and the slightly off-center back account for the grade, otherwise a Gem example.
117 $1 F-226a. Silver Certificate. Series of 1899. Date below. Lyons-Roberts. Serial: A46434979. Gem Uncirculated-66 (CGA). Fresh and crisp with excellent centering and bold colors.
From Louis S. Werner.
118 $1 F-227. Silver Certificate. Series of 1899. Date below. Lyons-Treat. Serial: H41059558. Gem Uncirculated-66 (CGA). Fresh and crisp with excellent centering and bold colors.
From Lester Merkin's sale of October 1972, Lot 224.
119 $1 F-229a. Silver Certificate. Series of 1899. Date to right. Vernon-McClung. Serial: Y48942310. Gem Uncirculated-65 (CGA). Bright and well centered. Some of the original deep embossing remains. The rarest Black Eagle.
From Lester Merkin's sale of October 1972, Lot 229.
120 $1 F-230. Silver Certificate. Series of 1899. Date to right. Napier-McClung. Serial: A8A. Choice Uncirculated-64 (CGA). Bright and nicely centered, though the back is just a trifle off. With the additional bonus of a single digit serial number, always popular with collectors.
From Lester Merkin's sale of October 1972, Lot 232.
121 $1 F-230. Silver Certificate. Series of 1899. Date to right. Napier-McClung. Serial: Z21740824. Choice Uncirculated-63 (CGA). Thinly margined on the lower face, and the top left edge is trimmed in a bit. Very close to Gem.
From the Robert F. Schermerhorn Collection.
122 $1 F-231. Silver Certificate. Series of 1899. Date to right. Napier-Thompson. Serial: D4268584D. Gem Uncirculated-65 (CGA). Fresh and very bright. A lovely example of this rare signature combination.
From Lester Merkin's sale of October 1972, Lot 234.
123 $1 F-231. Silver Certificate. Series of 1899. Date to right. Napier-Thompson. Serial: D59D. Choice Uncirculated-64 (CGA). Bright and very attractive. Unevenly margined, otherwise worthy of a higher grade. A second example of this signature combination, this time with a desirable double digit serial number.
From Lester Merkin's sale of October 1972, Lot 233.
124 $1 F-233. Silver Certificate. Series of 1899. Date to right. Teehee-Burke. Serial: X25456192X. Gem Uncirculated-65 (CGA). Delightfully bright and crisp. Some ripples are noted in the paper.
From the Robert F. Schermerhorn Collection.
125 $1 F-233. Silver Certificate. Series of 1899. Date to right. Teehee-Burke. Serial: Z999999Z. Gem Uncirculated-65 (CGA). Excellent centering and bold colors. Another very pleasing example, with a fancy serial number.
While the "Black Eagle" notes are very popular and easily acquired, they are significantly more desirable with fancy serial numbers such as the notes offered here and in the following four lots.
From Lester Merkin's sale of October 1972, Lot 242.
126 $1 F-233. Silver Certificate. Series of 1899. Date to right. Teehee-Burke. Serial: Z3333Z. Choice Uncirculated-64 (CGA). A third example of this variety. Another very pleasing note with an ever-popular fancy serial number.
From Lester Merkin's sale of October 1972, Lot 241.
127 $1 F-235. Silver Certificate. Series of 1899. Date to right. Elliott-White. Serial: K777A. Choice Uncirculated-64 (CGA). Bold and attractive with bright colors. "Lucky" serial number.
From Lester Merkin's sale of October 1972, Lot 251.
128 $1 F-236. Silver Certificate. Series of 1899. Date to right. Speelman-White. Serial: R88888A. Gem Uncirculated-65 (CGA). A final "black eagle" Silver Certificate with a fancy serial number.
From Lester Merkin's sale of October 1972, Lot 255.
129 $1 F-237. Silver Certificate. Series of 1923. Speelman-White. Serial: B20000002D. Gem Uncirculated-65 (CGA). Fresh and attractive though printed somewhat crookedly. A lovely example of the final large-size Silver Certificate type with the added touch of a low serial number.
From Lester Merkin's sale of October 1972, Lot 258.
130 Trio of $1 Silver Certificates representing one of each signature combination issued for this design type. Series of 1923: I F-237. Speelman-White. Serial: A3676111B. About Uncirculated-58 (CGA) I F-238. Woods-White. Serial: A51091448E. About Uncirculated-58 (CGA) I F-239. Woods-Tate. Serial: B46749177E. Choice Uncirculated-64 (CGA). The total printed for this third signature combination was only a fraction of the other two varieties. A nice opportunity to acquire the threesome with one bid. (Total: 3 pieces)
131 A consecutive serial number pair of $1 Silver Certificates. F-238. Series of 1923. Woods-White: I Serial: Y43654994D. Gem Uncirculated-65 (CGA) I Serial: Y43654993D. Choice Uncirculated-63 (CGA). (Total: 2 pieces)
From the Robert F. Schermerhorn Collection.
132 A second consecutive serial number pair of $1 Silver Certificates. F-238. Series of 1923. Woods-White. Serials: Z16607106D and Z16607107D. Both grade Choice Uncirculated-64 (CGA). (Total: 2 pieces)
From the Robert F. Schermerhorn Collection.
Gem $2 F-241 Silver Certificate
Series of 1886
133 $2 F-241. Silver Certificate. Series of 1886. Rosecrans-Hyatt. Serial: B5981349. Gem Uncirculated-65 (CGA). A superb example in every respect. The paper is crackling fresh and bright. The ink colors in the serial numbers and Treasury seal are vivid while the back is printed in bright green. Well centered with full margins all around. A delightful fancy-back type featuring the portrait of General Winfield Scott Hancock.
General Hancock was a distinguished officer in the United States Army. Having first served in the Mexican War, Hancock was a seasoned veteran when the Civil War began. He commanded the II Corps, Army of the Potomac (1863-65), and held an important position at the famous Battle of Gettysburg. He campaigned for the office of president in the 1880 election, but was defeated by James A. Garfield.
From the Robert F. Schermerhorn Collection.
134 $2 F-242. Silver Certificate. Series of 1886. Rosecrans-Hyatt. Serial: B13055260. Choice Uncirculated-64 (CGA). A well-centered example. The ghost of a wide corner fold is noted on the face, at the lower right, as is an inconspicuous pinhole in the lower design border.
From the Robert F. Schermerhorn Collection.
1886 F-244 $2 Silver Certificate
Enlarge
135 $2 F-244. Silver Certificate. Series of 1886. Rosecrans-Huston. Serial: B17971096. Gem Uncirculated-65 (CGA). Delightful quality. Bright and pleasing with the back having a light green tint in the paper. A final example featuring General Hancock, this one bearing the large brown Treasury Seal.
From Lester Merkin's sale of October 1972, Lot 272.
1891 F-246 $2 Silver Certificate
Enlarge
136 $2 F-246. Silver Certificate. Series of 1891. Tillman-Morgan. Serial: E15782035. Gem Uncirculated-65 (CGA). Truly a beautiful note, and as most large-size type notes, particularly desirable in this lofty grade. Fresh, crisp, and well centered with deep embossing visible at the serial numbers. A singular opportunity to acquire this popular type honoring William Windom who served two terms as Secretary of the Treasury, 1881-1884 and 1889-1891.
From the Robert F. Schermerhorn Collection.
137 $2 F-253. Silver Certificate. Series of 1899. Napier-McClung. Serial: E83317246. Choice Uncirculated-64 (CGA). Bright and attractive with the top margins somewhat thinner than the others. Bold blue serial numbers, denomination, and Treasury Seal. A quality example.
The face design recognizes the prosperity of America at the end of the Victorian era with vignettes of Mechanics and Agriculture. The portrait of George Washington appears at the center. Washington died in 1799, a century before the issue of this type.
From the Robert F. Schermerhorn Collection.
138 $2 F-255. Silver Certificate. Series of 1899. Parker-Burke. Serial: M29416752. About Uncirculated-58 (CGA). A second example, this with a different signature combination. A ghost of a light center fold is noted. Otherwise offering nice quality for the grade.
From the Robert F. Schermerhorn Collection.
Splendid 1886 F-259 $5 Silver Certificate
"Silver Dollar" Note
Enlarge
139 $5 F-259. Silver Certificate. Series of 1886. Rosecrans-Jordan. Serial: B970236. Choice Uncirculated-63 (CGA). A delightful example of this popular note. Crisp and well centered on both sides. The paper exhibits slight aging, but only trivially so. A very desirable note when encountered in this state of preservation.
This is the famous "Silver Dollar note," for displayed across the reverse are five Morgan silver dollars, the central example shown obverse up and dated 1886, behind which, to each side, are the reverses of four more Morgan dollars (without mintmark, thus of the Philadelphia Mint). From an interest viewpoint this design appeals not only to currency collectors but to Morgan dollar specialists.
In the March 1896 issue of The Numismatist, Joseph Hooper informed readers that one of the reverse plates for these $5 Silver Certificates, Series of 1886, contained an error among the printed facsimiles of five silver dollars. "The third one of these from the left end of the certificate has the word TRUST spelled TRAST. On all the others the word is properly spelled." Despite some 40 years of looking for an "IN GOD WE TRAST" $5 note, the editor has never seen or even heard of such a piece in numismatic hands. Hooper was one of the great literary luminaries in the hobby in the 1890s, and, presumably, his comment was one of perceived fact, not the relaying of a rumor.
Today, choice examples of the regular ("TRUST") notes appear on the market now and then, but they are considered to be scarce. In the 1970s a small hoard of consecutive serial number notes came on the market, and we handled, perhaps, three or four dozen on a private treaty basis. Each of these went to separate clients, and today they remain widely dispersed (and highly appreciated).
1886 F-263 $5 Silver Certificate
Enlarge
140 $5 F-263. Silver Certificate. Series of 1886. Rosecrans-Huston. Serial: B25575346. Crisp Uncirculated-60. Damaged (CGA). Paper and printing quality of a Crisp Uncirculated note, but more appropriately valued as an Extremely Fine, or so due to a large number of pinholes around the entire periphery of the note. A more appropriate description for these would be needle holes, the note having been sewn to some type of backing in the past, perhaps a coat lining where it was kept for security when traveling in the "Wild West." Two short pieces of white thread remain as incriminating evidence.
From Paramount's 1972 ANA Sale, August 1972, Lot 1095.
Gem $5 F-266 Silver Certificate
Series of 1891
Serial #9
Enlarge
141 $5 F-266. Silver Certificate. Series of 1891. Rosecrans-Nebeker. Serial: E9. Gem Uncirculated-65 (CGA). Of excellent quality and very desirable as such. The paper is quite fresh and the margins are wide all around. The centering is just slightly off on the back. Two light wrinkles are noted at the right end of the face. Considered slightly more available than the previous issue with the Morgan dollar reverse, though the combination of quality and the ever-popular single digit serial number create an unusual and valuable opportunity for the specialist.
From the Robert F. Schermerhorn Collection.
142 $5 F-271. Silver Certificate. Series of 1899. Lyons-Roberts. Serial: 43764157. Choice Uncirculated-64 (CGA). Bright and crisp, aesthetically quite lovely. The centering is a trifle off.
The first of a high-quality run of this ever-popular type note, representing nearly every signature combination. It is noted in the Friedberg reference that this type is the only one on which a Native American is featured as a central design element. On American circulating coinage there are three such instances, the gold quarter eagles and half eagles from the period 1908-1929, and the Buffalo nickel series minted from 1913-1938. Other series such as the Indian eagles and Indian Head cents, bear "Native Americans" with suspiciously Caucasian features.
From the Robert F. Schermerhorn Collection.
143 $5 F-272. Silver Certificate. Series of 1899. Lyons-Treat. Serial: B2473928. Crisp Uncirculated-62 (CGA). Another bright and attractive example. One pinhole is noted in the central portion of the note just to the right of the central vignette.
The vignette is that of Running Antelope, of the Oncpapa tribe of Sioux Indians. Thousands of locations across the United States publicize their American Indian heritage as an added attraction in an effort to boost tourism. Interestingly we often see images of Native Americans wearing large feathered headdresses as depicted on this note. It is important to note that depictions including this type of headdress are only historically accurate when referring to Indian nations of the Great Plains, such as the Sioux.
From the Robert F. Schermerhorn Collection.
Scarce 1899 F-273 Silver Certificate
Vernon-Treat Combination
Enlarge
144 $5 F-273. Silver Certificate. Series of 1899. Vernon-Treat. Serial: D11772688. About Uncirculated-55 (CGA). Nice quality and overall freshness. The blue seal, denomination, and serial numbers are bold and bright. The back is very slightly shifted to the right, but only trivially so. The ghost of a center crease is visible.
The designer of the "Indian Chief" note: The much-admired vignette of the Sioux Indian chief displayed on the $5 notes of 1899 is the work of R. Ostrander Smith, an engraver of many talents. Hired by the Bureau of Engraving and Printing in July 1897, he remained there until 1902, when he went to Chicago to work for the Western Bank Note Company, which at the time was a producer of security documents (bonds, stock certificates, etc.). Later he worked for the American Bank Note Company, in whose employ he remained until his death in 1933.
In addition to the $5, among other work in the Series of 1899 notes, his $1 with the American eagle, the U.S. Capitol, and Lincoln and Grant is important, and his $2 portrait of Washington flanked by the personifications of Mechanics and Agriculture is similarly so. He also created portrait motifs for the $5, $10, $20, $50, and $100 Third Charter Period notes issued by National Banks. For the 1901 Pan-American Exposition in Buffalo (the event attended by President McKinley, at which he was assassinated) Smith created the full run of commemorative stamps of 1¢, 2¢, 4¢, 5¢, 8¢, and 10¢ denominations.
From the Robert F. Schermerhorn Collection.
145 $5 F-274. Silver Certificate. Series of 1899. Vernon-McClung. Serial: E41462160. About Uncirculated-55 (CGA). One fine, sharp crease is visible toward the right end of the face. In addition, some light rippling of the paper is noted. Otherwise the note is bright and fresh, representing nice quality for the grade.
From the Robert F. Schermerhorn Collection.
146 $5 F-275. Silver Certificate. Series of 1899. Napier-McClung. Serial: E67697403. Crisp Uncirculated-62 (CGA). Light traces of some paper disturbance are noted in the margins at each of the top corners of the face. These are minor and really only visible under close scrutiny, otherwise an absolutely choice note with excellent color.
From the Robert F. Schermerhorn Collection.
147 $5 F-277. Silver Certificate. Series of 1899. Parker-Burke. Serial: M8793547. About Uncirculated-50 (CGA). Two tiny pinholes in the central vignette are noted as is some trivial staining on the back margins. Still nice looking.
From the Robert F. Schermerhorn Collection.
1899 F-278 $5 Silver Certificate
Enlarge
148 $5 F-278. Silver Certificate. Series of 1899. Teehee-Burke. Serial: M46891033. Gem Uncirculated-65 (CGA). Another choice example with good color and centering.
From the Robert F. Schermerhorn Collection.
149 $5 F-278. Silver Certificate. Series of 1899. Teehee-Burke. Serial: M67337253. Choice Uncirculated-64 (CGA). A wide, but very light corner fold is noted. Fresh and bright.
From the Robert F. Schermerhorn Collection.
150 $5 F-279. Silver Certificate. Series of 1899. Elliott-Burke. Serial: N2116381. Choice Uncirculated-63 (CGA). Some very light discoloration has occurred, but probably only noticeable when next to a brighter example. Nicely centered on both sides.
From the Robert F. Schermerhorn Collection.
151 $5 F-280. Silver Certificate. Series of 1899. Elliott-White. Serial: N32160428. Choice Uncirculated-64 (CGA). Fresh and bright. Some light printing wrinkles are noted, as made.
From the Robert F. Schermerhorn Collection.
Gem 1899 F-281 $5 Silver Certificate
Enlarge
152 $5 F-281. Silver Certificate. Series of 1899. Speelman-White. Serial: N57171439. Gem Uncirculated-65 (CGA). Perfectly centered and crackling fresh. The paper and inks are especially bright. A final opportunity to acquire this popular type. A superlative example and worthy of a fine collection.
From the Robert F. Schermerhorn Collection.
Impressive Choice F-282 "Porthole"
$5
Enlarge
153 $5 F-282. Silver Certificate. Series of 1923. Speelman-White. Serial: A2831195B. Choice Uncirculated-64 (CGA). Outstanding quality of both paper and ink. The bright blues against the grayscale background are an aesthetic delight. The "porthole" note, termed so because of the placement of Lincoln's portrait within a circular frame. Scarce and highly sought after as a type, this note will likely see heated bidding, especially being the only one of its type here offered.
The famous Civil War photographer Mathew Brady took the photo on which this engraving of President Lincoln was based. Interestingly, that photograph was taken exactly 135 years before the writing of this description on February 9, 1999. Brady studied daguerrotypy under the famous inventor Samuel F.B. Morse, and established a studio in New York City in 1844. His record of the Civil War was published in 1870 as Brady's National Photographic Collection.
From the Robert F. Schermerhorn Collection.
Gem $10 F-288 Silver Certificate
Series of 1880
Enlarge
154 $10 F-288. Silver Certificate. Series of 1880. Bruce-Gilfillan. Serial: B3438798. Gem Uncirculated-65 (CGA). Beautiful and fresh paper with bold inks and no visible defects. Well centered on the face, the back being slightly high. A distinctive design featuring Robert Morris on the face along with the large brown Treasury Seal. The back is boldly printed in brownish black ink. A number of long pink and blue silk security threads are visible. A scarce type note of excellent quality for the connoisseur.
The portrait is that of 18th-century financier and politician Robert Morris. Morris holds many claims to fame not the least of which was his signing of the Declaration of Independence on July 4, 1776. Of particular interest to numismatists, Morris attempted in 1783 to establish the National Mint for coin production. Despite the production of a few silver patterns in that same year, the U.S. Mint did not begin operations until 1792.
From the Robert F. Schermerhorn Collection.
155 $10 F-295. Silver Certificate. Series of 1886. Rosecrans-Huston. Serial: B11491217. Fine-15 (CGA). Moderately circulated as evidenced by a number of creases and light soiling visible on the face. The back is noticeably brighter, the ink being a bold green. A minuscule chink out of the bottom margin is noted for the sake of accuracy, a minor defect. A respectable grade for this popular fancy-back "Tombstone Note."
Thomas Hendricks, portrayed on the face of this issue, had a long career in government beginning with his first election to the U.S. House of Representatives in 1851. He later held a position in the U.S. Senate, as well as the governorship of Indiana. His career ended with his short service as vice president of the United States, dying in office on November 25, 1885.
From NASCA's Brookdale Sale, November 1979, Lot 1931.
156 $10 F-300. Silver Certificate. Series of 1891. Bruce-Roberts. Serial: E27721558. Extremely Fine-45 (CGA). Bright and retaining good color. Close inspection reveals traces of light folds. Well centered and nicely margined. A second "Tombstone Note," this one with the modified back design of 1891.
Choice "Tombstone" $10
Series of 1908
Enlarge
157 $10 F-303. Silver Certificate. Series of 1908. Vernon-McClung. Serial: B1498223. Choice Uncirculated-64 (CGA). While the centering is ever so slightly off, it is still well above average. Fresh and bright with absolutely no other visible defects. The variety with a large blue "X" added in the left center of the face.
From Lester Merkin's sale of October 1972, Lot 289.
Extremely Rare $20 F-308 Silver Certificate
Series of 1880
Countersigned by T. Hillhouse
Enlarge
158 $20 F-308. Silver Certificate. Series of 1880. Scofield-Gilfillan. Countersigned by T. Hillhouse. Payable at New York. Serial: B112482. Extremely Fine-40 (CGA). Lightly circulated with traces of minor discoloration from handling. The margins are mostly full and even, though the lower right face is trimmed a little closer. Gengerke's census reports a mere seven specimens known, this piece being one of the finest listed. Off of the market for nearly two decades, and probably destined for another long stay in an advanced cabinet. Certainly one of the prizes among the Silver Certificates in this extensive offering. The face portrait is that of Stephen Decatur, an American naval hero in the War of 1812.
From NASCA's Brookdale Public Auction Sale, November 1979, Lot 1946. Formerly from Louis S. Werner.
Important 1880 $20 F-311 Rarity
Enlarge
159 $20 F-311. Silver Certificate. Series of 1880. Bruce-Wyman. Serial: B3202412. Very Fine-35 (CGA). Creases and light aging of the paper from circulation are noted. The edges are sharp and margins are complete, though the top one is somewhat narrow. A pleasing appearance overall. Variety without countersignature and with large brown Treasury Seal.
From the Robert F. Schermerhorn Collection.
1891 F-321 $20 Silver Certificate
Enlarge
160 $20 F-321. Silver Certificate. Series of 1891. Parker-Burke. Serial: H1441261. Crisp Uncirculated-61 (CGA). A crisp and bright example, the paper displaying a fresh look. The blue serial numbers, Treasury Seal, and Roman numeral denomination marker are quite vivid, adding to the visual appeal. The back is a bold green. The top margin is somewhat tight, and there is a tiny notch in the same, noted for accuracy. A notable design by the Bureau of Engraving and Printing.
Face design featuring the portrait of Daniel Manning, Secretary of the Treasury from 1885 to 1887. Vignettes on each side of Manning represent Agriculture and Industry.
From the Robert F. Schermerhorn Collection.
Rare $50 F-328 Silver Certificate
Series of 1880
Enlarge
161 $50 F-328. Silver Certificate. Series of 1880. Rosecrans-Huston. Serial: A55752. Very Fine-25 (CGA). Pressed at one time, but it seems that the note shows wear commensurate with the grade assigned. Decently centered, but the top margin is somewhat narrower. A small rust stain is noted on the upper central back, probably from a paper clip. A subvariety represented by only a single Friedberg number, this note bears the large brown, spiked Treasury Seal at the center. According to Gengerke's census, just 27 survivors are known to exist. This type is seldom available on the market in any condition and very deserving of the strong bidding interest it will undoubtedly attract.
The vignette is that of Edward Everett, U.S. Secretary of State under President Fillmore, remembered as an outstanding orator. In the late 1850s, during the fundraising campaign to acquire Mount Vernon (which had fallen into disrepair), Everett gave dozens of speeches to various groups on the East Coast, finally succeeding in raising approximately $200,000, a hefty sum in those days. It was Everett who was the keynote speaker at the Gettysburg dedication in 1863, at which President Lincoln made a few brief remarks.
Centerpiece 1880 F-329 $50
Famous Rarity
Enlarge
162 $50 F-329. Silver Certificate. Series of 1880. Rosecrans-Nebeker. Serial: A189408. Very Fine-35. Edge Splits (CGA). Probably worthy of EF, but the top edge bears a few short splits, with a more prominent one at the center crease. Another rare subvariety, this type featuring the small red Treasury Seal which was adopted for most of the Series of 1891 issues. One of only 25 specimens known.
From Abe Kosoff.
Choice Uncirculated 1891 F-335 $50
Silver Certificate
Enlarge
163 $50 F-335. Silver Certificate. Series of 1891. Parker-Burke. Serial: K38806. Choice Uncirculated-64 (CGA). Fresh and crisp paper with bold blue Treasury Seal and serial numbers. The face centering is somewhat high, but the margins are complete all around. The back is vivid green. Only a small handful of these notes are known in this elegant grade.
Another 1891 F-335 $50 Rarity
Enlarge
164 $50 F-335. Silver Certificate. Series of 1891. Parker-Burke. Serial: K313888. Extremely Fine-45 (CGA). Bright with nice body. Traces of a horizontal center fold are visible, though the note seems to have been pressed at one time. The colors remain bright. The final signature combination issued, this being the only one of the type bearing a blue Treasury Seal.
From the Robert F. Schermerhorn Collection.
Classic 1880 $100 F-341 Silver Certificate
Fewer than Two Dozen Known
Enlarge
165 $100 F-341. Silver Certificate. Series of 1880. Rosecrans-Huston. Serial: A27392. Very Fine-30 (CGA). Clearly pressed at one time but still offering decent eye appeal. The ink, especially on the face is slightly faded, and the paper shows some age. A small paper disturbance is noted on the back at the upper design border. Well centered on both sides and still a very desirable type. Only 23 notes are known to exist.
Subvariety with the large brown, spiked Treasury Seal at center. The back design is in brownish black ink, with UNITED STATES SILVER CERTIFICATE printed in large letters and divided into three lines.
The face portrays James Monroe, president of the United States from 1817 to 1825. Monroe was another very distinguished politician not only having served as president, but also two terms as governor of Virginia, one term as U.S. senator, U.S. minister to France, U.S. minister to England, Secretary of State, and Secretary of War.
From the Robert F. Schermerhorn Collection.
Rare $100 Silver Certificate
Series of 1891
Former Friedberg Plate Note
Enlarge
166 $100 F-344. Silver Certificate. Series of 1891. Tillman-Morgan. Serial: E192016. Very Fine-35 (CGA). Nice eye appeal. A few creases apparent as expected for the grade assigned. Well centered, with broad margins all around. Some inconspicuous pinholes are revealed upon close examination. An undeniable rarity, one of only 27 examples known to exist. Design modifications were introduced on the face and back similar to other denominations of this series. A second note with the portrait of President Monroe, this with the scalloped, red Treasury Seal. Further distinguished as having been the Friedberg plate note until the most recent edition.
From NASCA's Brookdale Sale, November 1979, Lot 1961.
