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Stack’s Bowers and Ponterio   |   The August 2018 ANA Auction   |   23 August 2018 Sort by Lot-NumberSort by Estimate
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Session 4, Lot 2012

Estimate: 12'500 USD   |   Starting price: 7'500 USD Price realized: 18'000 USD
Legal Tender Notes

Friedberg 98 (W-1276). 1875 $10 Legal Tender Note. PCGS Currency Choice New 63 PPQ.
Fewer than 40 examples of this "Series A" Allison-New signed 1875 $10 "Jackass" note are enumerated in the Track & Price census, and this note is one of the two finest examples graded by either PCGS or PMG. The paper is beautifully original with full margins, albeit a touch tight along the top. The design is sharply printed in dark inks while the red overprints show great color. Countless fibers are seen on the back left end of the note adding to the overall charm of this high end example of a rare $10 Legal Tender type. This example has a history of auction appearances dating back to a March 1993 Stack's auction where it was offered as Choice Uncirculated. It was last offered publicly in a June 2006 auction where it was acquired for $21,850. Since that time the Choice grade has been confirmed by PCGS who assigned a numeric grade of 63 PPQ. This is the single finest Fr. 98 to be graded by PCGS and the only one to achieve a full Uncirculated grade among the 12 they have seen. PMG has graded the serial number A1 example as Gem Uncirculated 65 EPQ.

$10 Legal Tender Notes, Series of 1875

The face design is similar to that of the Series of 1869 save for changes in overprint, tints and seal type. The portrait of statesman Daniel Webster is seen on the left end. Webster was a New Hampshire native, a politician who twice served as United States Senator from Massachusetts, in addition to serving as secretary of State under presidents Harrison, Tyler, and Fillmore. The scene at right depicts Indian maiden Pocahontas being presented to an assembly of Europeans. The motif is known by the Treasury Department as Introduction of the Old World to the New. At the bottom center of the note is a perched American eagle that when turned upside down resembles the head of a donkey, leading to the popular "Jackass Note" nickname. This vignette was also used on Fractional Currency shields. The 1875 issues come with "Series A" varieties with that wording in a round overprint at top center and along the bottom edge of the design on the face, and a "no series" variety that lacks the "Series A" overprints.

PCGS Population: 1, none finer.
From Lyn Knight's sale of September 1982, lot 46; Stack's sale of March 1993, lot 130; Currency Auctions of America's sale of May 1998, lot 1472; Lyn Knight's sale of June 2006, lot 85.

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