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Note Details

Set Details

Note Description: Gold Certificate
$10 1907 Large Size
Grade: AU 58 EPQ
Country: US
Note Number: 1167
Seal Type: Gold
Signatures/
Vignettes:
Vernon
Treat
Certification #: 1603076-001  
Owner: Sheik Sheck
Sets Competing: Sheik Gold Certificates Large Complete  Score: 2336
Sheik $10 Large Gold Certificates  Score: 2336
Date Added: 8/17/2016
Research: See PMG's Census Report for this Note

Owner's Description

PMG has graded has graded 80 Fr-1167’s as of 1/11/2017. This is the first FR number for the $10 Hillegas. Out of the 80 graded, seven are the same grade of this note, 58EPQ. There are six graded higher. Out of that six, four are graded 64 WITHOUT EPQ! Only two note were graded higher at EPQ. Rare note indeed.
The face of this type bears the portrait of Michael Hillegas (Treasurer of the United States 1775-1789), engraved by G.F.C. Smillie from a painting by A.M. Archambault. The inscription on the face states $10 in gold coin has been deposited in the Treasury as backing for the note and is payable on demand. Large quantities of $10 and, in particular, $20 gold coins were stored in bags by the Treasury as security for Gold Certificates of various denominations. Hillegas was important in finances during the American Revolution and was charged with the distribution of Continental Currency during that time. In the early 20th century his descendants successfully petitioned the Treasury Department to include his image on paper money. All have a gold Treasury Seal with scalloped border. All have serial numbers in small digits.

The back, printed in bright orange-gold, includes the Great Seal within a scalloped border. These notes first appeared in circulation on July 1, 1907. It was reported that bankers were confused by the gold backs, which were difficult to evaluate at quick glance, making counting difficult. The orange-gold color tended to fade. Today, notes with bright backs are worth more than those with faded color, regardless of the grade.

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