3835

3835- 1891, $5 Coin Note

Currency:USD Category:Coins & Paper Money / Paper Money - United States Start Price:2,500.00 USD Estimated At:5,000.00 - 6,000.00 USD
3835- 1891, $5 Coin Note
<Our item number 121607><B>1891, &#36;5 Coin Note. Fr-<B>364</B>. KL-258. PMG graded Gem Uncirculated 65 Exceptional Paper Quality.</B> Bold design with nice bright features associated with fresh crisp paper. These notes were issued as a result of the Legal Tender Act of July 14, 1890. This Act authorized the Secretary of the Treasury to issue these notes in payment for silver bullion purchased by the Treasury Department. The entire issue of these notes thus became backed by metallic reserves. The notes were redeemable in actual coin, but whether silver or gold coin should be paid out was left to the discretion of the Secretary of the Treasury. Their use &#40;or better still, their mis-use&#41; helped contributed to the Panic of 1893. <BR>Estimated Value &#36;5,000-6,000. <BR><BR>Our item number 121607<BR><IMAGES><P ALIGN="CENTER"><IMG SRC="http://www.goldbergcoins.net/liveauction/42jpegs/121607.jpg"> <BR><IMG SRC="http://www.goldbergcoins.net/liveauction/42jpegs/121607N2.jpg"> <BR><IMG SRC="http://www.goldb ergcoins.net/liveauction/42jpegs/121607N3.jpg"> </P></IMAGES>