April 26, 2024
$1 1891 TREASURY COIN NOTE PCGS G4 SCARCER Fr 352
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A great note whole and decent. The margins are wide for the series and the centering is excellent. It is hard to imagine a nicer looking Coin Note in this grade. These are twice as rare as the more common Fr 351, but they only trade at a slight premium. Among later issues of United States currency, none is more admired or more desired than the Treasury or Coin Notes, Series of 1890 and Series of 1891. These notes-similar to the Silver Certificates-related to the flood of Morgan silver dollars minted by the Treasury beginning in 1878. The idea was to create paper money to give out instead of the silver dollars, the latter not being popular anywhere except in certain mountainous areas of the American West. However, by 1890 the supplies of silver purchased under the Bland-Allison Act of February 28, 1878, were running low, and it was not certain how many more silver dollars would be minted. Hence, these particular currency notes are payable in coin, but not specifically in silver dollars. Not to worry, the Sherman Silver Purchase Act (1890) and the Trade Dollar Redemption Act (1891) made it possible to coin millions more of George T. Morgan's prodigies. Soon, Silver Certificates were made again-and in prodigious quantities. The Treasury or Coin Notes were payable in unspecified coin, unlike the Gold or Silver Certificates which were
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