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Series 1890 $1,000 Treasury Note, nicknamed "The Grand Watermelon" due to the shape and colour of the zeros on the reverse.. The Treasury Note (also known as a Coin Note) was a type of representative money issued by the United States government from 1890 until 1893 under authority of the Sherman Silver Purchase Act in denominations of $1, $2, $5, $10, $20, $50, $100 and $1,000. [1]
The certificates were initially redeemable for their face value of silver dollar coins and later (for one year from June 24, 1967, to June 24, 1968) in raw silver bullion. [1] Since 1968 they have been redeemable only in Federal Reserve Notes and are thus obsolete, but still valid legal tender at their face value and thus are still an accepted ...
The Seated Liberty portrait designs appeared on most regular-issue silver United States coinage from 1836 through 1891. The denominations which featured the Goddess of Liberty in a Seated Liberty design included the half dime, the dime, the quarter, the half dollar, and until 1873 the silver dollar.
The value of silver dollars can vary greatly, whether it’s the 1964 Kennedy half dollar or the 1922 silver dollar coin. And some rare specimens fetch astounding amounts at auctions.
By the late 1880s, there were increasing calls for the replacement of the Seated Liberty design, used since the 1830s on most denominations of silver coins. In 1891, Mint Director Edward O. Leech, having been authorized by Congress to approve coin redesigns, ordered a competition, seeking a new look for the silver coins. As only the winner ...
In 1890, the price of silver dipped to $1.16 per ounce. By the end of the year, it had fallen to $0.69. By December 1894, the price had dropped to $0.60. On November 1, 1895, US mints halted production of silver coins, and the government closed the Carson City Mint. Banks discouraged the use of silver dollars. [5]
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