The August 2012 Philadelphia ANA World's Fair of Money Auction

Auction # 140 | View Auction Schedule and Details

Pre-Bidding Ends: 8/8/2012 1:00:00 PM PST
Live Floor and Internet Bidding Begins: 8/8/2012 2:00:00 PM PST

Lot #7423. Large Size. Fr. 377. 1890 $100 Treasury Note. PCGS Fine 15.

Famed 1890 "Watermelon," One Hundred Dollar Design

Classic Numismatic Favorite

Description:

One of the most heralded and prominent designs found on federally issued banknotes of the United States of America are these "Watermelon" notes of the series of 1890. The design is coveted by not only paper money collectors, but also by those in the numismatic marketplace. Typically this $100 type is referred to as a "baby watermelon," while its higher denomination sibling, the $1,000 coin note of 1890 is classified by those involved in the hobby as a "Grand Watermelon." The limited issuance of Treasury notes for the 1890 series keeps all higher denomination notes in the highly scarce to rare category with this $100 design being known by only roughly three dozen serial numbers for the Friedberg type. Of those, roughly a quarter are permanently impounded in institutional collections with the remaining typically being tightly held by their owners. Public appearances of this type at major auction are very seldom with roughly a single occurrence a year with the grade varying quite largely between Very Good and About Uncirculated. A problem-free unrestored note is seldom made available as high profile rarities typically undergo conservation to some extent.

This serial number A17645 plate position "A" note is one which shows without auction history in current Track and Price data with the earliest public sale record for the catalog number observed during March of 1993 while earlier auctions are not represented. The note is viewed with extremely even circulation throughout having only two pinholes to report beyond honest wear and while being more circulated than most, this item will appeal to a broader audience. Problem free borders. The overprinting remains quite bold while the detail of the portrait vignette of Admiral Farragut remains vivid and detailed. Shown in current census data as a Very Good note which is highly conservative in our estimate. The all important back is again seen without blemish for the technical state of preservation having rich inks and lovely appeal. The large 100 seen at center remains clear, giving the "watermelon" resemblance in the zeros great distinction. After nearly two decades out of the currency marketplace, the present specimen should find a welcome audience.

From the Watermelon Collection

Estimate:

$80,000 - $120,000