Fr. 16c. 1862 $1 Legal Tender Note. No. 1776. Plate D. No ABNCo Monogram. No Green Patent. Series at

Fr. 16c. 1862 $1 Legal Tender Note. No. 1776. Plate D. No ABNCo Monogram. No Green Patent. Series at Right. PCGS Very Choice New 64 PPQ.，This is an absolutely beautiful note for this early series, with exceptionally bright paper and vivid ink tones throughout. Nicely centered on both sides. The face margins are characteristically narrow, particularly at the top border, though all others are comfortable. It features sharp corners and is very deserving of the PPQ designation from PCGS.<p><p>Four subtypes have been identified for this issue, described in the Friedberg reference as numbers 16, 16a, 16b, and 16c. These are differentiated by series ranges as well as differences in the appearance (or lack thereof) of the ABNCo monogram and a small green patent date (referring to the specific green ink used in printing). This variety is without either of these features and it is the second most available of the four Friedberg variants. However, this example is quite significant as it is also among the nicest survivors. PCGS has graded just six notes finer, but aside from the tight margin, it is difficult to imagine a note looking better than this one. As an added benefit, the 1776 serial number may appeal to fancy number collectors. <p><p>The portrait vignette is that of Salmon P. Chase, a gentleman with a distinguished career in government, although with a few slip-ups, as in his endorsement of his long-time pal Victor Smith for Collector of Customs for the District of Puget Sound. This ended poorly and created tension between Chase and President Lincoln. Chase served as the governor of Ohio, held office in the United States Senate, helped to organized the Ohio Republican Party, and was a contender in early 1860 to be the Republican nominee as president. Lincoln forgave this and Chase became important in the administration and eventually was appointed Chief Justice of the U.S. Supreme Court. During Lincolns presidency, Chase was Secretary of the Treasury, during which term he established the national banking system. His name is widely known today, as he is the "Chase" in Chase Bank, though few people would realize the historical connection. Founded by John Thompson, the bank was named in Salmon Chases honor, although he had no involvement with it.<p>，From the A.J. Vanderbilt Collection. Earlier from Hickman Auctions, June 1990, lot 336; Currency Auctions of America, May 1999, lot 1010; eBay, via Scott Mitchell Numismatic Associates, March 2014.，