20020: Fr. 127 $20 1869 Legal Tender PMG Gem Uncirculat

Fr. 127 $20 1869 Legal Tender PMG Gem Uncirculated 65 EPQ. The 1869 $20 Rainbow note, so named because of the riot of vibrant colors employed, was the first issue in a long run of $20 designs of similar type that were used right up through the 1880 series. It features a profile portrait of Alexander Hamilton and a vignette of Victory. The 1869 series also incorporates a striking, large, red spiked Treasury seal, blue anti-counterfeiting swath, and an ornate green back. This example features original paper surfaces, vibrant colors, and excellent centering and margins. While certainly not the rarest note, the appearance of examples in premium condition, such as we find this piece, has been somewhat sporadic. We last sold a comparable note in our 2020 FUN Currency Signature Auction, where it crossed the auction block for $52,800. Some two and a half years prior, the next most recent sale of an example in this grade realized $52,875 in 2017. HID03101062020 © 2020 Heritage Auctions | All Rights Reserved