Rare Fr. 285a 1878 $10 Silver Certificate
1 of 8 Known
Fr. 285a. 1878 $10 Silver Certificate. PMG Choice Fine 15.
Authorized by the Act of February 28, 1878 (the Bland-Allison Act) the very first Silver Certificates are a striking sight to behold compared to their brethren issued under the Series of 1880. Visually similar on account of the portrait of Founding Father and financier Robert Morris seen at left and the general arrangement of the design elements on the face coupled with the unusual color choice for the back printing make for an interesting and unusual sight on account of these distinctions alone. However, unlike those issued under the Series of 1880, the Series of 1878 featured a composition befitting the 1870s. Featuring a pinkish-red Treasury Seal and a floral overprinted "TEN" along the bottom margin all laid against blue-stained paper with triple engraved Treasury signatures make for an uncommon sight owing to collector demand and the limited context in which these notes circulated. Printed and issued as a means to support the massive increase in silver dollars being struck by the United States Mint and confined to Treasury vaults, early Silver Certificates were of dubious legal status owing to their receivability for only customs, taxes, and public dues. This legal technicality would soon be clarified by the National Banking Act of 1882 and prompted extensive redemption of notes like this one which were almost exclusively held by banks leaving few survivors for the benefit of future collectors once the proverbial dust settled. Out of 196,000 printed, just 8 examples are known today per numismatic references. This piece which first came to the numismatic marketplace in the 1960s in the inventory of coin dealer G.G. Finnell is well circulated like most of its surviving peers, a distinction which is little more than a footnote when weighed against the rarity of this item. A series of minor restorations were done at some point to mitigate several tiny edge nicks and minor splits which are only discernable today under only close examination and speak to the skill of the party who effected these restorations. A great representative for the grade that is both wholesome and attractive, this note eagerly awaits its chance to join the holdings of a sophisticated collector with exceptional taste. PMG Comments "Restoration."
From the Porter Collection.

Estimate: $20000.00- $30000.00