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The 1878 $5 Legal Tender Note, cataloged as Friedberg #69 (Fr#69), is a remarkable example of late 19th-century American paper currency, embodying the artistry, symbolism, and evolving monetary policy of the post-Civil War era. Graded 64PPQ by Legacy Currency Grading, this note stands just shy of Gem Uncirculated, with exceptional paper quality (Premium Paper Quality) and superior eye appeal. As a representative of the Series of 1878, it holds a key place in the broader narrative of Legal Tender Notes, also known as United States Notes, which were issued directly by the Treasury and served as fiat currency backed by the full faith and credit of the U.S. government.
The Series of 1878 marked an important evolution in U.S. currency, coming just after the significant monetary reforms of the 1870s, particularly the Specie Payment Resumption Act of 1875. This legislation sought to stabilize the nation's currency following years of Civil War inflation and greenback issuance. Although the notes from this series were not yet backed by gold or silver, their design and printing reflect a renewed focus on security, national symbolism, and visual grandeur. The $5 denomination was among the more widely circulated legal tenders of the era, and examples like Fr#69 are highly regarded by collectors due to their aesthetic appeal and relative scarcity in high grade.
The face of the 1878 $5 Legal Tender Note is anchored by a powerful central vignette titled “Pioneer Family,” originally engraved by Henry Gugler. This image shows a frontiersman with rifle in hand standing beside his wife and child, evoking themes of westward expansion, settlement, and manifest destiny. The grouping is framed by an ornate and balanced layout, with bold decorative elements and intricate guilloché patterns. At the far right of the note is the small portrait of Andrew Jackson, the 7th President of the United States and a symbol of populist financial reform, military leadership, and federal authority. Jackson had been featured on earlier notes, and his presence here reflects continuity with American political ideals and monetary strength.
The title “UNITED STATES NOTE” appears prominently at the top center, along with the formal obligation: “The United States will pay to bearer FIVE DOLLARS.” The red scalloped Treasury seal is placed just to the left of center, adding a burst of color and further distinguishing the note from earlier and later issues. Serial numbers are printed in bright blue, creating a striking tri-color presentation that enhances both beauty and complexity. The use of multiple ink colors, ornate borders, and classical allegory was not merely decorative—it also served to deter counterfeiters during a time when currency forgery was a major concern for the federal government.
The reverse of the note, printed entirely in green, features a symmetrical layout with a large numeral “5” at each end and the words “UNITED STATES OF AMERICA” and “FIVE DOLLARS” surrounding a central panel of intricate, interlocking geometric patterns. This style of greenback design helped solidify public confidence in the uniformity and legitimacy of national currency. It also ensured a visually secure format that would resist chemical alteration or photographic duplication, both of which were growing concerns in the late 19th century. The simplicity and balance of the reverse design offer a strong contrast to the allegorical richness of the front, creating a note that is both utilitarian and artistic.
Fr#69 is distinguished from other Friedberg varieties of the 1878 $5 Legal Tender Note by its specific combination of design elements and signatory pairings. It bears the engraved signatures of Treasury officials John Allison (Register of the Treasury) and James Gilfillan (Treasurer of the United States), whose names help date the note to the latter portion of the 1870s. Their signatures are neatly engraved near the lower corners and are well-preserved on notes graded in the 64PPQ range. This catalog number is part of a relatively narrow group of varieties issued under the Series of 1878, which are collectively less common than their 1880 counterparts, making them more desirable for type collectors and specialists.
A 64PPQ grade from Legacy Currency Grading denotes a note in near-Gem Uncirculated condition, with strong centering, clean margins, and bold color throughout. The “PPQ” (Premium Paper Quality) designation certifies that the note retains original, unaltered surfaces and has not been pressed, cleaned, or otherwise manipulated—an essential consideration for serious collectors. At this grade level, the paper exhibits deep embossing, firm texture, and superior visual contrast between printed elements and background. The design details are crisp, with no folds, stains, or distracting handling marks, and the original inks retain their full vibrancy, especially in the blue serials and red seal.
High-grade 1878 $5 Legal Tender Notes are increasingly difficult to acquire, as most surviving examples have been circulated, damaged, or improperly stored. The scarcity of Uncirculated or near-Uncirculated notes from this series reflects both their heavy use in everyday commerce and the limited number retained by collectors during the 19th century. Those that do survive in superior condition—particularly with PPQ designation—tend to enter long-term collections or trade infrequently at auction. As a result, Fr#69 in 64PPQ condition holds strong collector demand and serves as a centerpiece in advanced collections of large-size U.S. currency.
The appeal of this note goes beyond condition and rarity. The visual impact of the “Pioneer Family” vignette, the legacy of Andrew Jackson, and the patriotic themes embedded in every corner of the design make this note a true artwork in miniature. Collectors and historians value it not just for its monetary function but as a tangible document of American ideals, expansionism, and post-war reconstruction. It reflects a time when paper currency was both a political statement and a lifeline in a growing, recovering nation.
In summary, the 1878 $5 Legal Tender Note Fr#69 graded 64PPQ by Legacy represents a high-grade example of one of the most artistically rich and historically significant legal tender notes ever issued. With its powerful imagery, exceptional condition, and vivid coloration, it is a standout piece that offers both aesthetic and scholarly value. For collectors focused on large-size type notes, 19th-century monetary policy, or American allegorical art, this note exemplifies the pinnacle of what U.S. federal paper money had to offer during the golden age of engraving and design.