Fr. 189 (W-5300). 1878 $10,000 Legal Tender. PCGS Very Choice New 64. Proof Mounted on Bonded Card.

Fr. 189 (W-5300). 1878 $10,000 Legal Tender. PCGS Very Choice New 64. Proof Mounted on Bonded Card.，An India paper Proof of an essentially non-collectible, ultra-high denomination type. All issued examples of the 1878 $10,000 Legal Tender Note have been redeemed and no issued examples are known, even in government hands. Though an issued design type, this one is all but impossible to own save for this Proof impression. It is the only one in private hands and a piece completely unknown before it came to light in our October 2010 sale of an important book of Proofs from the Bureau of Engraving and Printing. The only other example known is included in the National Numismatic Collection in the Smithsonian Institution. Indeed this is very much a museum-quality rarity and a very important piece for the all but lost type it represents. Though the Joel R. Anderson Collection focused on issued notes for the various designs, this Proof was the only option to acquire this design and as such, it was a necessary acquisition just as it would be for any collector seeking completion of the Federal series. <p><p>Andrew Jackson is portrayed in a large oval frame at left, while an ornate denomination counter dominates the right end of the note. The engraved signatures of Scofield and Gilfillan are seen at the bottom right. Six zeros are punch cancelled in the lower left and upper right. The engraved design elements are all darkly printed and the India paper is clear of any distracting marks. This Proof is mounted on bonded paper. A superb example that is, of course, worthy of the finest collection.<p><p><p><p><strong>$10,000 Legal Tender Notes, Series of 1878</strong><p>The face has a portrait of Jackson at the left, as noted, and "10.000" denomination to the right, a period being used in the place of a comma. $1000 and $5000 high-denomination notes had neither periods nor commas, but it seems that a visual break was needed for this value. On the back of the issued notes, though not relevant to the Anderson proof, was a perched eagle on a shield and rock.<p>Issued notes bore the Scofield-Gilfillan signature combination for the 1878 to 1881 era. The Treasury Seal was large and brown. Although 4,000 were printed, none are known today, as stated.，From the Joel R. Anderson Collection of United States Paper Money, Part I. Earlier from Stacks Philadelphia Americana Sale, October 2010, lot 1068.，