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- Housed in an archival quality currency sleeve and graded by PMG.
- Circulated Brown Back $20 note in Choice Extremely Fine-45 condition as graded by PMG.
- Face: A portrait of the Battle of Lexington & Concord at left and a depiction of Columbia leading a procession on the right.
- Back: Brown back with charter number at center.
- Charter #3371.
- Serial Number 1.
- Net Graded.
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This note was the last of the Large Size series of National Currency Notes that were first issued in 1863. This type was conceived by Secretary of the Treasury Salmon P. Chase who devised a system of nationally chartered banks.
Individual banks purchased U.S. government bonds and deposited them with the comptroller of the currency. For up to 90% of the profit, the comptroller would authorize the production of notes bearing the individual bank’s name. Since over 12,000 banks were chartered and issued notes, these issues have become highly sought after by collectors.
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