Treasury Note 1890 1891 History and Characteristics

The Treasury Note of 1890-1891 was a significant financial instrument in American history. It was authorized by the Act of July 14, 1890.

This note was created to help finance the government's expenses during a time of economic depression. The government was facing a severe budget deficit and needed a way to raise funds.

The Treasury Note was a short-term debt obligation, denominated in $10, $20, $50, $100, $500, $1,000, $5,000, and $10,000.

A Series 1890 $1,000 Treasury Note (Fr#379b) sold for $3,290,000 at the Florida United Numismatist convention in 2014.

This sale set a new world record price for paper currency.

The same note had previously been sold in 2006 for $2,255,000 in a private sale, establishing a record at the time.

In 1944, the note was auctioned for $1,230, and again in 1970 for $11,000.

The Series 1891 "Open Backs" (Fr#379c) variety, represented by just two notes, has also seen record-breaking sales.

One of these notes is owned by the Smithsonian Institution, while the other is available to collectors.

This Series 1891 note set the world record in March 2006 and again in April 2013, when it was sold at public auction by Heritage Auctions for $2,585,000.

The Treasury Notes from 1890 and 1891 are a fascinating collection of historical currency. The National Numismatic Collection at the National Museum of American History (Smithsonian Institution) houses a complete type set of these notes.

The images of these notes are a great way to see the different denominations and designs that were used during this time period. The Treasury Notes pictured below are from the 1890 and 1891 series.

Here's a breakdown of the Treasury Notes:

The 1890 and 1891 Treasury Notes are a fascinating series, and one of the most common is the $1 denomination. These notes feature a portrait of Stanton on the front.

The $2 bill is a popular choice, with a large size note featuring a portrait of James McPherson. These were printed for the series of 1890 and 1891.

The $5 denomination is often overlooked by collectors, but it's actually a good value, featuring a portrait of George Thomas on the front. These notes are more difficult to locate than the lower denominations.

The $10 and $20 Treasury Notes have been affected by a large hoard of these notes discovered in a Jacksonville, Florida bank. This has skewed the population of these notes, making them less valuable than they once were.

The $20 denomination is the highest collectible denomination, featuring a portrait of John Marshall on the left hand side. The 1891 examples are relatively affordable, making them a great choice for collectors.

The $50 bill is a rare note, with no 1890 examples issued and only a few 1891 examples printed. William Seward is shown in profile at the center of each bill.

The $100 Treasury Notes, also known as the "watermelon notes", have a unique engraving on the back. These notes are semi-collectible, but expensive, and the 1891 example does not have the same engraving.

The $500 note is a rare and elusive note, with no examples currently known to exist. The discovery of one of these notes would be a significant find, featuring an engraving of General Sherman on each note.

The $1,000 Treasury Notes are extremely rare and expensive, with the 1890 example known as the "grand watermelon."

The $5 Thomas Notes, issued from 1890 to 1891, were a type of Treasury Note.

These notes were named after their designer, Thomas. They featured a vignette of a woman, possibly representing the United States, on the left side of the note.

The $5 Thomas Notes were printed in green ink on the back and had a distinctive design.

They were also known to have a blue seal.