Fr. 51 (W-319). 1880 $2 Legal Tender Note. PCGS Gem New 66 PPQ.

Fr. 51 (W-319). 1880 $2 Legal Tender Note. PCGS Gem New 66 PPQ.，Boldly printed inks and strictly original paper characterize this lovely Gem Bruce-Gilfillan $2 Legal Tender Note. This example is very well margined for the type, which is usually cut close along the bottom edge. The beautifully ornate large brown spiked seal is boldly inked. This example is one of only four Fr. 51s to achieve a 66 PPQ grade at PCGS with none finer. <p><p><p><strong>$2 Legal Tender Notes, Series of 1880</strong><p>The basic motifs are continued from the preceding. On the Series of 1880 notes a Treasury seal (colors and sizes vary) replaces the pink scalloped ornament. Red serial numbers are continued on W-318 to W-320, including W-319 as here, then changed to blue from W-321 to W-326.<p>There are three different back imprint styles (described in detail in the <em>Whitman Encyclopedia of U.S. Paper Money</em>). Relevant here is:<p><strong>Back Style 1:</strong> With "COLUMBIAN BANK NOTE CO." and "WASHINGTON, D.C.," at the top and bottom of the back. "SERIES OF 1880" is in the top margin and "Printed at the Bureau, Engraving and Printing, Treasury Dept." in the lower margin. Used on W-318 and W-319, and a very few W-320.<p>For Fr-51 (W-319), the estimated printing quantity is 7,540,000, and it is thought that fewer than 200 survive, mostly in lower grades.，From the Joel R. Anderson Collection of United States Paper Money, Part I. Earlier from Lyn Knights sale of June 2011, lot 1019.，