This striking $5 "Educational," series note completes the trio of denominations issued in 1896. The note illustrates an impressive allegorical motif spanning the face titled Electricity Presenting Light to the World , based upon a painting by Walter Shirlaw. The immaculate preservation of this note certainly highlights the impressive design and the pristine paper quality. Large even borders perfectly frame the impression, a quality typically only found at Superb Gem grade levels. The back design was envisioned by Thomas F. Morris and engraved mostly by G.F.C. Smillie, with portraits of Civil War heroes Ulysses S. Grant and Philip H. Sheridan. Intricate lathe work adorns the back and the quality of this Superb Gem shows this to its best advantage. Just a small handful of 1896 $5 notes have achieved this 67 PPQ grade according to the PCGS population report, a tally far to small to satisfy collector demand. We anticipate strong competition for this lot and the low two digit serial number of "56," will set this note apart from the small number of others at this grade. On November 1, 1893, Thomas F. Morris signed on as chief as the Engraving Division at the Bureau of Engraving and Printing in Washington, DC. By that time plans had been discussed to create a new series of Silver Certificates, enlisting the talents of artists in the private sector who were known for their murals, specifically E.H. Blashfield, Will H. Low and, as here, Walter Shirlaw. The idea was to create "scenic" motifs on various denominations. In time, serious work was done on denominations of $1, $2, $5 and $10, with some sketches made for higher values as well. Only the three lower denominations were ever produced, creating the beautiful "Educational Notes" that are so highly prized today, each of which has landed a very high spot in The 100 Greatest American Currency Notes, the $5 occupying position #5. For this note, Shirlaw created what may be the most dynamic and ornate action group on any issue of American currency. Electricity is personified by a winged goddess at the center, holding aloft a lighted bulb. Other figures include Jupiter, on the left, representing force, Fame with her trumpet, representing the progress of the nation and Peace with a dove. The Series of 1896 $2 and $5 notes were released in 1897, a year after the date imprinted on them. Although they are dearly loved today, in their time they were, believe it or not, widely criticized. The Washington Times, May 1, 1897, reported: “The Bureau of Engraving and Printing is engaged in making plates for the five- and two-dollar bills of the last series. These bills when printed were too dark and the number denominations too indistinct for rapid use at the banks, and the Treasury received many complaints concerning them. To remedy this evil, new plates are being made, which will make the bills much lighter in color, the figures in the corner of the bill will be plain and distinct.” This never happened, and the design remained constant. On August 15, 1897, The New York Times reported that the three designs of the Educational Notes were "doomed to be retired before fully completed. The whole series has proved unsuccessful from the point of view of handlers of money." Bankers further complained that the notes became smudged soon after they were placed in circulation. If it is any consolation to modern readers, the famous $100 "Watermelon Note" was also criticized at its launching in 1890 and was quickly retired! And, to further relate the artistic thinking of generations ago, in 1891 the Liberty Seated coin design, so beautiful to collect today, was deemed to be tired and uninteresting, and in 1892 was replaced by the Barber Liberty Head. Today the Series of 1896 $5 "Educational" note is one of the most desired issues in the entire spectrum of American paper money. The offered piece is of truly exceptional quality. ， Est. $40,000-$60,000
