Lot 2577
1915, $20 Federal Reserve Bank Note. PCGS Currency Gem New 65. . Fr-824. . KL-660. A lovely, high grade example of a scarce design type that is seldom seen much finer. It is broadly margined, and possesses all the bright paper and bold inks that one expects from the grade. This piece is the only Fr. 824 graded at this level by PCGS Currency, with a single 65PPQ and two 66Ppqs the only three finer.
The lack of the "PPQ" designation by PCGS Currency is not indicative of any flaws; perhaps this note is lacking the embossing that normally qualifies a note for the "Premium Paper Quality" designation. Previous generations of collectors, particularly in the 1970s and 1980s, did not value originality as highly as today's collectors, hence many original (and fully Uncircualted!) notes were lightly pressed to remove natural paper wave and make the note look "flat." While not in vogue today, yesterday's collectors valued "flatness" and such notes sold at a premium. Tomorrow's collectors may appreciate some other aspect of notes or their condition that we don't today.
Estimated Value $16,000 - 20,000.
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