Fr. 268. 1896 $5 Silver Certificate. PMG Superb Gem Uncirculated 67 EPQ.

Fr. 268. 1896 $5 Silver Certificate. PMG Superb Gem Uncirculated 67 EPQ.，The last time this note was sold was in 1969. The auction description, as typical of the time, was concise: "Famous EDUCATIONAL SERIES, new, crisp, SUPERB! RARE! Popular." It reads almost as if the cataloger became increasingly more impressed by the note the longer he studied it. He was correct on all accounts and studying the note today provides the same enjoyment as it did nearly five decades ago. It really is that nice aesthetically as well as in terms of technical grade. The colors are bold throughout and the essentially perfect centering resulted in wide margins that frame the entire design nicely. The areas not printed are bright and fresh, the corner tips are sharp and there are no apologies to be made. This is one of just six examples graded at this level by PMG, with not a single piece finer, quite exceptional considering that PMG has graded nearly 600 examples of this variety. <p><p>This is the largest denomination issued in the "Educational" series, though higher denominations were considered and designs are known for a $10 and a $50; the latter was adapted for use as the issued $2 note after the original design proposal for that denomination was abandoned. This exceptional design comes from muralist Walter Shirlaw, who created the central vignette. A brief account of the process appeared on a card included with four developmental die proofs, found in the Estate of Thomas Morris. It read: <p><p>"These sketches for the allegorical group for the 1896 $5 Silver Certificate as shown in the three cases represent the work of eminent mural artist Walter Shirlaw. These preparatory sketches were later used in carrying out his full design on canvas. Shirlaw used live models for his work. His complete design as submitted was considered unsuitable for a banknote design, resulting in Bureau officials using only the centre design (allegorical group) and substituting for the balance (border and lettering) a more fitting banknote design as a whole. Thomas F. Morris, Sr., the designer and chief of the Engraving Division of the Bureau, carried through the balance of the design as found on the finished note." <p><p>The finished composition was engraved to steel by G.F.C. Smillie, with the assistance of others who worked on some of the finer details. The vignette is titled, <em>Electricity Presenting Light to the World.</em> <p><p>The back design was conceived by Lorenzo H. Hatch and Thomas F. Morris, and as with the face, it was engraved by G.F.C. Smillie. It features a winged Victory at the center, with wings spread toward vignettes of Ulysses S. Grant and Philip Sheridan, both Union generals during the Civil War who were credited with the Union victory.<p> <p>This is a magnificent specimen of one of Americas most desired currency issues and a prize suitable for the finest of collections. We have always recommended that a set of the three Educational Note denominations is a great way to start a collection of large-size currency by types. <p>，From the A.J. Vanderbilt Collection. Earlier from Hollinbeck-Kagins Sale of November 1969, lot 407.，