Fr. 11a $20 1861 Demand Note PMG Choice Fine 15 Net.... Large Size: Demand Notes

Welcome Sign-In | Join Now

Lot: 14862
Auction: 3502

Fr. 11a $20 1861 Demand Note PMG Choice Fine 15 Net....

Track this lot.

View Larger Image


Sold for:	Not Sold
Ended:	Sep 18, 2008

Buyer's Premium:	15% of the successful bid (minimum $9.00 per lot)
Auction Name:	*2008 September Long Beach, CA CAA Signature Auction #3502*
Description:	Heritage Numismatic Auctions offers currency in our Signature Auctions & Final Session Sales, held in conjunction with some of the largest numismatic conventions. These sales feature award-winning cataloging and photography. Call or e-mail one of our Consignment Directors to learn about selling through Heritage.
Auction Type:	Currency Auctions of America - Heritage Signature: Heritage Live: After Internet bidding closes, live bidding will take place through www.HA.com/Live. Your secret maximum bid placed prior to the live event will compete against the live bids. To maximize your chances of winning, enter realistic secret maximum bids on our site. Many of our proxy bidders are successful at winning lots in these auctions, and usually below their secret maximum. You can also place last minute bids directly with us by e-mailing Bid@HA.com or calling 1-866-835-3243. (Important note: Due to software and Internet latency, live bids may not register in time, so enter realistic proxy bids.) This lot is in: Currency Auctions of America - Heritage Signature Floor Session (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live) (lots 12001-16154) Internet bidding ends at 10:00PM CT the night before the floor session for this lot. During the live auction event, bidding in person is encouraged, and Heritage Live includes streaming audio and often video during the event.
Item Activity:	0 Internet/mail bidders, 791 page views

Description

Fr. 11a $20 1861 Demand Note PMG Choice Fine 15 Net. This fabled Fr. 11a is unique not only for its Friedberg number, but also for type. When Demand notes were first printed, the words "Register of the Treasury" and "Treasurer of the United States" were printed at the bottom of the note below the signature lines. The Treasury clerks, who were authorized to sign for these officials, added the words "for the" after their signatures. After a short while, it was realized that the words "for the" should be added to the plate in front of "Register of the Treasury" and "Treasurer of the United States" to save a considerable amount of time and effort on the part of the signers. Five and Ten Dollar "for the" notes are extremely rare in the marketplace. There are only ten "for the" $5 notes known--nine of which are Fr. 1a. The $10 notes are equally rare with ten pieces known--most of which are Fr. 6a. In $20 Demand notes, the currently offered piece is absolutely unique with no other "for the" notes known--not only for this Friedberg number, but for the type. The note has a minor, exceedingly well-done restoration of one of the corner tips, and has been graded Choice Fine 15 Net with the comment "Professional Restoration." To our eye, the note has the appearance of a solid problem-free Very Fine. The signatures, although a bit light, remain nice and clear, and the colors of the note, including the green overprint on the face as well as the red serial number, have all their original brightness. The elaborately engraved green back also gives the appearance of a solid VF if not slightly better. This would be a handsome and desirable Demand Note of any denomination or variety at this grade level. The words "unique" and "irreplaceable" are considerably overused in today's market; however, for this note, "unique" is exactly correct and "irreplaceable" is right on the money. The successful bidder who brings this note home tonight can bask in the certain knowledge that no other collector will ever own a "for the" $20 Demand note until tonight's winner is willing to part with his treasure.
From The Dr. Edward and Joanne Dauer Collection View Entire Collection.

Previous Prices from Heritage Auctions
Lot	Date	Realized
No previous prices realized recorded for this item.
PLEASE NOTE: All prices realized reflect the final hammer price PLUS the buyer's premium in auctions that charge a buyer's premium. Each item has a notation at the top of the listing indicating whether that lot included a buyer's premium. Example: A item that sells with a final hammer price of $100 and a 15% buyer's premium will display with a price realized of $115. All information listed is intended to be as accurate as possible, but errors are possible. Please use this guide carefully and inform us of any inaccuracies.