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.
Such a Beautiful note.
The ultimate rainbow $20 note is just beautiful. Excellent piece!
Awesome
I love the old paper currency
there were some nice art work on many older notes.
Yes, these notes are simply just unbelievably beautiful and I often wonder the people that designed the those back then what were they thinking because looking at a note today it’s just another note. but with the beautiful design, they had in mine. They treated it as an art I believe, and it’s precious as a piece of gold or silver, and gave it some kind of dignity, and I truly wish this odd form would come back it would make people appreciate what they have in their wallet and what they buy and sell. Everyone have a good day and a good week bye for now.
So pretty. Wish the newer notes had this much attention to beautiful detail.
An awesome note! Truly a rare beauty!
Very Nice ! Much better than today’s paper
That’s a beautiful bill. I am impressed that legal tender back then was so beutifull and colorful. Good luck on the coin giveaway everybody!
Pricey piece of paper but oh so pretty.
Wow!