{"product_id":"1891-20-treasury-note-coin-note-extremely-rare-very-lightly-circulated-high-condition-large-size-currency","title":"1891 $20 Treasury Note | The Coin Note | Fr. 375 | Extremely RARE | Very Lightly Circulated | High Condition Survivor","description":"\u003ch2\u003e1891 $20 Treasury Note | \"The Coin Note\" | Fr. 375 | Extremely RARE | Very Lightly Circulated | High Condition Survivor\u003c\/h2\u003e\n\n\u003cp\u003e\u003cstrong\u003eGenuine 1891 $20 Treasury Note – Series of 1891 \"Coin Note\" – Friedberg Fr. 375. Exceptionally Rare. Very Lightly Circulated with Outstanding Eye Appeal.\u003c\/strong\u003e\u003c\/p\u003e\n\n\u003cp\u003eThis is a remarkable opportunity to acquire one of the most desirable large‑size Treasury issues of the late 19th century. Offered here is an original 1891 $20 Treasury Note, commonly known as a \"Coin Note\" due to the prominent allegorical figures representing silver and gold coinage. This is not a reproduction. It is a genuine, large‑size United States Treasury Note from an era when paper money was still viewed with suspicion and saved by few.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eFriedberg Fr. 375 is the specific catalog designation for the 1891 $20 Treasury Note. Notes from this series are extremely rare in any grade. Very Lightly Circulated examples with this level of preservation are seldom offered for public sale. This note represents a true condition rarity for the series.\u003c\/em\u003e\u003c\/strong\u003e\u003c\/p\u003e\n\n\u003chr\u003e\n\n\u003ch3\u003eKey Details\u003c\/h3\u003e\n\u003cul\u003e\n  \u003cli\u003e\n\u003cstrong\u003eSeries:\u003c\/strong\u003e 1891 (Treasury Note \/ Coin Note series)\u003c\/li\u003e\n  \u003cli\u003e\n\u003cstrong\u003eDenomination:\u003c\/strong\u003e $20\u003c\/li\u003e\n  \u003cli\u003e\n\u003cstrong\u003eFriedberg Number:\u003c\/strong\u003e Fr. 375\u003c\/li\u003e\n  \u003cli\u003e\n\u003cstrong\u003eDesign Type:\u003c\/strong\u003e \"Coin Note\" – featuring allegorical figures representing silver and gold\u003c\/li\u003e\n  \u003cli\u003e\n\u003cstrong\u003eCondition:\u003c\/strong\u003e Very Lightly Circulated – exceptional for this extreme rarity\u003c\/li\u003e\n  \u003cli\u003e\n\u003cstrong\u003eSize:\u003c\/strong\u003e Large size currency – approximately 7.5 x 3.1 inches\u003c\/li\u003e\n  \u003cli\u003e\n\u003cstrong\u003ePaper Quality:\u003c\/strong\u003e Strong, original paper with no major impairments\u003c\/li\u003e\n  \u003cli\u003e\n\u003cstrong\u003eRarity Level:\u003c\/strong\u003e Extremely RARE – very few survivors from this series\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003chr\u003e\n\n\u003ch3\u003eWhat is Friedberg Fr. 375?\u003c\/h3\u003e\n\u003cp\u003eFriedberg Fr. 375 is the standard catalog reference for the 1891 $20 Treasury Note, commonly known as the \"Coin Note.\" This specific Friedberg number distinguishes the 1891 series from the earlier 1890 issue (Fr. 368) and from other denominations within the Treasury Note series. Fr. 375 examples are characterized by their distinctive obverse design featuring allegorical figures representing silver (left) and gold (right), along with the series date of 1891 prominently displayed. The reverse features elaborate lathe work and ornate counters typical of the finest large‑size currency engraving.\u003c\/p\u003e\n\n\u003cp\u003eCollectors seeking Fr. 375 face significant challenges, as survival rates for this specific Friedberg number are exceptionally low. Most known examples exhibit heavy circulation, making any lightly circulated Fr. 375 a notable condition rarity.\u003c\/p\u003e\n\n\u003chr\u003e\n\n\u003ch3\u003eHistorical Context – The 1891 Treasury Note Series (Fr. 375)\u003c\/h3\u003e\n\u003cp\u003eThe Treasury Notes of 1890 and 1891, often called \"Coin Notes,\" were authorized under the Sherman Silver Purchase Act of 1890. These notes were redeemable in either silver or gold coin – a unique feature that distinguished them from other large‑size currency of the era. The series was short‑lived, with production ceasing in 1893 when the Sherman Act was repealed.\u003c\/p\u003e\n\n\u003cp\u003eOf the two years, the 1891 series (Fr. 375) is notably scarcer than the 1890 issue (Fr. 368). The $20 denomination, in particular, saw limited printings and even lower survival rates, as most notes were redeemed and destroyed. Today, any Fr. 375 1891 $20 Treasury Note is considered a major rarity. Finding one in very lightly circulated condition is exceptional.\u003c\/p\u003e\n\n\u003chr\u003e\n\n\u003ch3\u003eDesign \u0026amp; Artistry\u003c\/h3\u003e\n\u003cp\u003eThe 1891 $20 Treasury Note (Fr. 375) is widely regarded as one of the most artistically beautiful large‑size notes ever produced by the United States. The obverse features intricate engraving and allegorical figures representing silver on the left and gold on the right – a nod to the note's dual redeemability. The reverse showcases ornate lathe work and detailed counters that exemplify the height of the Bureau of Engraving and Printing's craftsmanship.\u003c\/p\u003e\n\n\u003cp\u003eNotes of this era were printed on large sheets and hand‑cut, resulting in the distinctive oversized format that collectors prize today. The intricate designs were intended to deter counterfeiting, but they also produced some of the most visually stunning currency in American history.\u003c\/p\u003e\n\n\u003chr\u003e\n\n\u003ch3\u003eWhy This Note is Extraordinary\u003c\/h3\u003e\n\n\u003cp\u003e\u003cstrong\u003eExtreme Rarity – Fr. 375 1891 $20 Treasury Notes:\u003c\/strong\u003e The 1891 Treasury Note series had limited original printings, and survival rates for Fr. 375 are exceptionally low. Most examples known today exhibit heavy circulation, stains, tears, or other impairments. This note defies those expectations.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eVery Lightly Circulated Condition – For Fr. 375:\u003c\/strong\u003e At this level of rarity, even moderately circulated Fr. 375 notes command significant premiums. A very lightly circulated example – with crisp paper, bold colors, sharp corners, and minimal handling – is a true condition census piece. For many collectors, acquiring any Fr. 375 is a milestone. Acquiring one in this state of preservation is the achievement of a lifetime.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eOriginal Paper \u0026amp; Eye Appeal:\u003c\/strong\u003e This Fr. 375 note retains its original paper quality with no signs of washing, pressing, or restoration. The colors remain vivid, the overprints are bold, and the overall eye appeal is outstanding for the issue. Notes from this era that have survived with such integrity are increasingly difficult to locate as they disappear into long‑term collections.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eCollector Demand – Type Note \u0026amp; Date Note Rarity:\u003c\/strong\u003e Fr. 375 is a sought‑after \"type note\" for collectors building comprehensive sets of large‑size currency. It is also a prized \"date note\" for those specializing in the 1890‑1891 Coin Note series. Demand consistently outpaces supply, and very lightly circulated examples of Fr. 375 are almost never available for extended periods.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eHistorical Significance:\u003c\/strong\u003e These notes (Fr. 375) were issued during a pivotal moment in American monetary history – the debate over silver versus gold that would shape financial policy for decades. Owning an 1891 $20 Treasury Note Fr. 375 is owning a tangible piece of that debate, a relic from the era of \"Free Silver\" and the populist movement.\u003c\/p\u003e\n\n\u003chr\u003e\n\n\u003ch3\u003eProvenance \u0026amp; Census Data\u003c\/h3\u003e\n\u003cp\u003eThis Fr. 375 note has been carefully preserved and shows only the lightest signs of circulation consistent with very light handling. The paper remains strong and supple with no splits, pinholes, or significant edge damage. The signatures and overprints are bold and fully legible.\u003c\/p\u003e\n\n\u003cp\u003eCensus data for Fr. 375 1891 $20 Treasury Notes confirms that all examples of this Friedberg number are recognized as extremely rare in lightly circulated grades. This note stands among the finer known survivors of Fr. 375.\u003c\/p\u003e\n\n\u003cp\u003eThis represents a significant opportunity for the type note collector, the specialist in late 19th century Treasury issues, or the connoisseur seeking a genuinely rare large‑size note with exceptional eye appeal – specifically Friedberg Fr. 375.\u003c\/p\u003e\n\n\u003chr\u003e\n\n\u003ch3\u003eAuthenticity Guarantee\u003c\/h3\u003e\n\u003cp\u003ePlease review all photos carefully. The images show the exact note you will receive. This note is guaranteed genuine and original – an authentic 1891 $20 Treasury Note (Coin Note) – Friedberg Fr. 375 – in very lightly circulated condition. If proven otherwise, a full refund will be provided. High‑resolution photos are considered part of the description.\u003c\/p\u003e\n\n\u003chr\u003e\n\n\u003ch3\u003eShipping \u0026amp; Payment\u003c\/h3\u003e\n\u003cp\u003eThis note will be shipped flat and securely between rigid archival‑quality materials to ensure safe delivery. Insurance and signature confirmation are required and included in the shipping cost. Please contact us with any questions before purchasing.\u003c\/p\u003e\n\n\u003chr\u003e\n\n\u003cp\u003e\u003cem\u003eThis note is sold as shown. Serious inquiries and reasonable offers are welcome. A very lightly circulated Fr. 375 1891 $20 Treasury Note of this quality may not appear again for years.\u003c\/em\u003e\u003c\/p\u003e","brand":"Imperial Currency Holdings","offers":[{"title":"Default Title","offer_id":45263016951861,"sku":null,"price":24645.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0716\/9510\/6101\/files\/Screenshot2026-05-26091354.png?v=1780119474","url":"https:\/\/imperialcurrencyholdings.com\/products\/1891-20-treasury-note-coin-note-extremely-rare-very-lightly-circulated-high-condition-large-size-currency","provider":"Imperial Currency Holdings","version":"1.0","type":"link"}