Fr. 1178 (W-2220). 1882 $20 Gold Certificate. PCGS Superb Gem New 67 PPQ.

Fr. 1178 (W-2220). 1882 $20 Gold Certificate. PCGS Superb Gem New 67 PPQ.，This 1882 $20 Gold Certificate, an incredible condition rarity, displays nearly perfect centering with boardwalk margins framing its grandiose design. The sharply printed inks contrast starkly against the creamy white paper. The orange printed back, for which this series is so well known, is vivid and striking. This design ranks #95 in <em>100 Greatest American Currency Notes</em> by Q. David Bowers and David M. Sundman.<p><p><p><strong>$20 Gold Certificates, Series of 1882</strong><p>The face depicts the recently martyred (1881) President James Garfield, while the back shows an eagle clutching a lightning bolt, with two cable-laying ships in the distance, titled <em>Ocean Telegraph</em>, engraved by George D. Baldwin. A portrait of Garfield also appears on the $5 National Bank Notes of 1882; a close copy mirror-imaged. The inscription "GOLD COIN" is in the "shingle"-style lettering layout. Gold coins, absent from commerce since the waning days of December 1861, achieved parity with Legal Tender and other paper on December 17, 1878. Accordingly, the Series of 1882 Gold Certificates could be exchanged at par.<p>The Atlantic telegraph, as it was best known, was completed in the summer of 1858 amidst great celebrations on both sides of the Atlantic. In New York City a grand display was held in the streets and within the Crystal Palace. Conceived by Cyrus W. Field, the connection made possible fast communications between Europe and America, with great implications for news and financial information. The transmission was not instantaneous, however. A message of 99 words from Queen Victoria to President Andrew Johnson took 67 minutes to transmit. This was deemed satisfactory, far eclipsing the sending of news by steamship. There was trouble, signals were often interrupted or incomplete, and the last clear message was received on September 1. Soon afterward, the project was abandoned. Not until after the Civil War was an effective connection made. In 1866 the <em>S.S. Great Eastern</em> laid new cable and repaired some cable laid in 1865, achieving the success that is honored on this note design.<p>The orange-gold color on the notes tended to fade. Today, notes with bright backs are worth more than those with faded color, regardless of the grade. Again, the Joel R. Anderson Collection note hits a home run in this important (but often overlooked) aspect of quality. This is an exceedingly rare class of currency, and surviving examples are greatly treasured.<p>The print run of F-1178 (W-2220) was 16,344,000. We estimate that about 525 to 550 survive, most in lower grades and with backs faded from their original brilliance.，From the Joel R. Anderson Collection of United States Paper Money, Part I. Earlier from Bowers and Merenas August 1991 sale, lot 3124; Stanley Moryczs March 1993 Fixed Price List; Currency Auctions of Americas May 1993 sale, lot 1433; Heritage Auctions June 2010 sale, lot 13206.，