Fr. 40. 1923 $1 Legal Tender Note. PMG Gem Uncirculated 65 EPQ.

Fr. 40. 1923 $1 Legal Tender Note. PMG Gem Uncirculated 65 EPQ.，The centering is off a bit on both sides, not unusual, but this is a broadly margined Gem with bold ink tones and nice embossing of the red overprints. One tiny light green speck at one corner seems to be related to the ink of the back and appears as made. Deservedly, PMG saw this note as meriting the EPQ designation for its overall freshness. It is a lovely example of the type. We dont know when it was purchased, but based on the surcharge over face value of a mere 25 cents, we imagine it may have been in the collectors earliest days of buying, likely during the Great Depression. Perhaps the quality seen here became the collectors benchmark for the notes he would acquire over the several decades to follow.，From the A.J. Vanderbilt Collection. Purchased for $1.25, details unrecorded.，