Friedberg 242 (W-362). 1886 $2 Silver Certificate. PCGS Currency Superb Gem New 67 PPQ.All Series of 1886 Silver Certificates are popular for their beautiful ornate designs. Silver Certificates were first issued in the $2 denomination with the Series of 1886 as seen here. This note features a large red spiked seal and the signatures of Rosecrans and Hyatt. A large portrait vignette of General Winfield Scott Hancock is seen at the left, while the central layout incorporates an appealing circus poster styling of "United States."pThis example offers bright, fresh paper and jumbo margins. Both the face and back plate impressions are superbly centered. The inks are all sharply printed and present great detail. PCGS Currency has certified just two finer examples of this catalog number.ppSilver Certificates were first issued in 1878 under the title of Silver Certificates of Deposit, such notes being authorized under the Bland-Allison Act of February 28 of that year, best remembered for launching the production of hundreds of millions of Morgan silver dollars. The idea was to have each Silver Certificate backed by an equivalent number of silver dollars held in Treasury vaults.ppSilver Certificates proved to be an enduring series and continued well into the 20th century in the form of small size notes. The designs differed from those used on Legal Tender and other currency and were often notable and attractive from a numismatic viewpoint. The 1886 Series notes were the first issued in fairly large quantities.pFrom Herbert I. Melnicks sale of November 1983, lot 2399; Bowers and Merenas sale of November 2007, lot 5306; Heritage Auctions sale of January 2008, lot 14253; Heritage Auctions sale of April 2013, lot 18069.
