Fr. 191a (W-1953). 1864 $20 Compound Interest Treasury Note. PCGS Extremely Fine 40.

Fr. 191a (W-1953). 1864 $20 Compound Interest Treasury Note. PCGS Extremely Fine 40.，Another Anderson Collection highlight, this may well be the finest known example of just over 60 known of this Compound Interest Treasury Note, according to the Track and Price census data. This note, graded Extremely Fine, is certainly far superior to those typically seen. Bold bronzing at center states the series type and the note also displays strong overprinted details in the serial numbers and Type I Treasury Seal. The design features an allegorical vignette of Victory at left, a mortar at lower center, and Abraham Lincoln at right. The overprinted date of issue in red, Aug. 15, 1864, is seen just right of center. The printed design elements are darkly inked and contrast nicely with bright white paper that experienced only gentle circulation. The grading service makes mention of restorations, which are minor and difficult to locate. Notes with minor restorations are not listed in population reports.<p><p><p><strong>$20 Compound Interest Treasury Notes of 1864</strong><p>Compound Interest Treasury Notes of the $20 denomination may have been issued under the Act of March 3, 1863, although no such imprint is known today. All have "ACT OF JUNE 30th 1864" at the bottom border. Different starting dates are imprinted in red on the face. As to whether they should be considered separate varieties is probably moot, although Gene Hessler and Carlson Chambliss do so in their <em>Comprehensive Catalog of U.S. Paper Money.</em><em></em><p>Similar to the $10, the imprint "COMPOUND INTEREST / TREASURY NOTE" is on the face in bronzing powder. "TREASURY DEPARTMENT" is near the top border.<p>The back, in green, has an interest table that gives the value of the note for six-month periods up to three years after issue. Compound Interest Treasury Notes were a very popular investment for banks as well as for people of wealth. Today, fewer than 70 notes are extant from an original print quantity of 390,000, as nearly all were redeemed when the interest schedule expired.，From the Joel R. Anderson Collection of United States Paper Money, Part I. Earlier from James A. Stack, Sr.; Stacks March 1990 sale of the James A. Stack, Sr. Collection, lot 647; Heritage Auctions May 2005 sale, lot 16677.<p>，