Fr. 127 1869 $20 Legal Tender Note Graded PMG Superb Gem Unc 67 EPQ
A rare opportunity awaits advanced currency collectors as a condition census Fr. 127 1869 $20 Legal Tender Note, a highly coveted member of the “Rainbow” series, crosses the auction block. This particular note, featuring the Allison-Spinner signatures, represents the apex of preservation for the type, having been graded an astonishing PMG Superb Gem Uncirculated 67 EPQ.
This particular note comes from the Thomas M. Flynn Collection and Lightning Bolt Collections. At the Flynn sale of 2008, the note sold for $105,750. The note realized $93,000 when it sold last year at Heritage. The note is tied for the finest graded at both leading grading services and will be a spectacular addition to the advanced currency collector’s cabinet.
Condition and Rarity
The condition of this $20 note is its defining feature. As noted by the grading service, this piece possesses Exceptional Paper Quality (EPQ) and is a superlative example, having only three known contemporaries at this “exalted level.”
The description highlights its immaculate presentation:
- Coloration: Featuring the distinct, wistful blue protective over-ink that gives the “Rainbow” series its name, the note presents a patriotic and almost ethereal appearance, lacking the green found on lower denominations of the series.
- Centering and Margins: The note is described as perfectly centered, a rarity for notes of this vintage, with ample, great margins that frame the design beautifully.
- Paper: The crisp, flat paper retains its structure, bearing just enough “tawny hue” to subtly speak to its considerable age without detracting from its Gem grade.
Historical Significance
The 1869 Legal Tender issues are among the most artistically distinct notes in U.S. currency history. They are nicknamed “Rainbow Notes” due to the vibrant use of various ink colors—red, blue, and green—which were employed as anti-counterfeiting measures. The $20 note’s design features the large central portrait of Secretary of the Treasury Alexander Hamilton.
Current Bidding as of the last update stands at $12,500.00. This lot closes on November 16, 2025 at 7:46 PM.
The post The Ultimate Rainbow $20 Legal Tender Note at GreatCollections appeared first on CoinWeek: Rare Coin, Currency, and Bullion News for Collectors.
