Friedberg 96 (W-1275). 1869 $10 Legal Tender Note. PCGS Currency Gem New 66 PPQ.Each denomination from the Series of 1869 is represented by just a single catalog number. For the $10 denomination that is Fr. 69 (W-1275). The portrait of Daniel Webster, engraved by Alfred Sealey, is at left, while at right is the vignette variously titled emIntroduction of the Old World to the New/em or emPocahontas Presented at Court./em At bottom center is an eagle perched upon a shield and clutching an olive branch and arrows. When inverted the eagle resembles a donkey lending to the popular "Jackass" nickname by which these notes are commonly known. The same design was used on the top of Fractional Currency Shields. This particular rendition of the national bird was continued on Legal Tender Notes through and including the Series of 1880.pThis type comes on blue tinted security paper based on Wilcoxs 1866 patent. A large red spiked Treasury Seal is to the right of center. A green protector tint is seen across the top of the note. The tint is made up of microlettered TENs in a repeating pattern. A green serial number panel is to the right of Websters portrait. Red printed serial numbers are to the lower left and upper right. The combination of colorful hues of green, red and blue lend themselves to the "Rainbow" nickname for notes from this series. Engraved signatures of Treasury officials Allison and Spinner are seen along the bottom border of the design. The back is intricately laid out in a green geometric design with TEN at left and 10 at right. The Legal Tender clause and anti-counterfeiting language is at center. The imprint of the National Bank Note Company is at bottom center. ppThere were 8,376,000 $10 Rainbow notes printed. Today fewer than 1,000 are believed to survive, most of which show significant circulation. PCGS Currency has graded just three examples finer than this note, all at the 67 PPQ level. The present piece has ample margins and wonderful color. The engraved design elements are all sharply inked and display excellent detail. This is an ever popular type note offered here in a lofty state of preservation.From Stanley Moryczs Fixed Price List of May 1998; Lyn Knights sale of October 2000, lot 591; Heritage/CAAs sale of May 2005, lot 16657.
