A rare example of an already scarce series date and design that would soon be replaced by the Series of 1886. The same basic design of the Series of 1878 is retained albeit with some minor modifications. Gone is the pinkish-red Treasury overprint typical of the 1870s as it was replaced in favor of a reddish-brown coloration on the Series of 1880. Gone is the "TWENTY" protector seen below the Treasury seal which has been replaced by a more simplistic iteration that favors a numerical form. Gone is the blue-stained paper of the Wilcox Company laden with hundreds of individual silk fibers which was replaced in favor of threaded security paper furnished by the Crane Paper Company by way of political connections. The countersignature of the Assistant Treasurer is retained, but this feature would be short-lived and entirely deleted on subsequent iterations of this series date making this particular specimen a rare example of a rarely offered type seen only sparingly compared to most of its counterparts. The last time we sold an example of this Friedberg Number was back in March 2018 as part of the Joel R. Anderson Collection (Lot 1035). That example which accounted for the finest known at the time of its appearance at auction realized $90,000 against an initial estimate of $40,000 to $60,000. This specimen although not the finest known stands eclipsed by only a single specimen in terms of grade assigned per the PMG Population Report and accounts for one of the nicest pieces recorded overall by Track & Price which records only 12 examples out of 200,000 that were originally issued. Even albeit moderate circulation is plainly noticed while a symphony of contrast is plainly noticed with regards to the overprinted and engraved elements of the design which each offer much in the way of eye appeal. This is no doubt a superior specimen when compared to most of its surviving counterparts and will likely remain the finest to be offered publicly at auction in the immediate years and decades that follow. PMG Pop 1/1 Finer.From the Shores Collection Part I.
