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The 1917 $1 Legal Tender Note, cataloged as Friedberg #39, is one of the last large-size United States Notes issued before the transition to small-size currency in 1928. This note represents the culmination of decades of Legal Tender issues that began during the Civil War and continued into the early 20th century. The Legal Tender Notes, also known as United States Notes, were a vital part of the American financial system, providing a stable paper currency that was backed by the U.S. government. The 1917 series maintained the iconic design elements of earlier issues while incorporating minor modifications, making it one of the most recognizable and collectible notes from the early 20th century.
The Legal Tender Note series originated with the passage of the Legal Tender Act of 1862, which authorized the issuance of non-interest-bearing paper money to help fund the Civil War. Unlike previous Demand Notes, which could be redeemed for gold or silver, Legal Tender Notes were not immediately convertible to specie, meaning their value was based on government backing rather than intrinsic metal content. Despite initial skepticism, these notes gained acceptance and became a cornerstone of the U.S. currency system. The 1917 $1 Legal Tender Note was part of a long lineage of such notes, serving as a transitional piece before the modernization of U.S. paper money.
The obverse design of the 1917 $1 Legal Tender Note is among the most detailed and ornate in U.S. currency history. At the center of the note is a finely engraved portrait of George Washington, based on the famous Gilbert Stuart painting. This portrait had been used on U.S. currency since the 1869 series and remained a defining feature of Legal Tender Notes. Washington’s image is framed by elaborate scrollwork, intricate engraving, and patriotic symbols, reinforcing the note’s association with American heritage.
To the left of Washington’s portrait is a depiction of Christopher Columbus sighting land, a nod to the age of exploration and America’s origins. This vignette, which had appeared on earlier issues, was retained for its historical significance and artistic appeal. Surrounding this image is an elaborate border featuring intricate patterns, ornamental flourishes, and fine engraving details that make the note one of the most visually striking examples of early 20th-century U.S. paper money.
The red Treasury seal and serial numbers on the 1917 $1 Legal Tender Note are characteristic of the Legal Tender series. The Treasury seal, prominently placed on the right side of the note, is a key security feature and a defining element of these notes. The red color contrasts sharply against the black ink of the design, enhancing both security and visual appeal. The serial numbers, printed in matching red ink, provide additional authenticity and traceability for each individual note.
The inscriptions on the note reinforce its status as a United States Note. The words “UNITED STATES NOTE” appear prominently above Washington’s portrait, while the phrase “THIS NOTE IS A LEGAL TENDER FOR ONE DOLLAR” is printed below, confirming its use as an official government-backed currency. The denomination is displayed in multiple locations, with the numeral “1” appearing in the corners and the words “ONE DOLLAR” inscribed in decorative lettering at the bottom center of the note.
The reverse of the 1917 $1 Legal Tender Note features an elaborate green design, earning it the nickname “greenback.” The central inscription reads “UNITED STATES OF AMERICA” and “ONE DOLLAR,” surrounded by a highly detailed pattern of geometric shapes and scrollwork. The intricate background design was intended as an anti-counterfeiting measure, making it difficult to reproduce the note without specialized engraving equipment. The use of green ink for the reverse was a security feature that had been in place since the Civil War, ensuring that authentic government-issued notes could be easily distinguished from private banknotes.
The 1917 $1 Legal Tender Note was produced by the Bureau of Engraving and Printing (BEP), which had been responsible for manufacturing U.S. paper money since the 1870s. The BEP’s advancements in printing technology allowed for greater consistency and security in note production, ensuring that each Legal Tender Note met the highest standards of quality. The meticulous engraving work on this note is a testament to the skill and craftsmanship of early 20th-century banknote production.
The mintage of the 1917 $1 Legal Tender Note was substantial, as these notes were widely used in everyday transactions. While exact production figures are difficult to determine, millions of these notes were printed and circulated across the country. However, many were later redeemed and destroyed as newer currency series replaced them. Today, surviving examples remain highly collectible, particularly in high-grade conditions, as they represent the final chapter of large-size Legal Tender Notes before the introduction of modern small-size currency.
The condition of this particular 1917 $1 Legal Tender Note, graded 63PPQ (Choice Uncirculated) by Legacy, indicates an exceptionally well-preserved example with strong eye appeal. A grade of 63 places the note in the Choice Uncirculated category, meaning it exhibits no signs of circulation or wear. The PPQ (Premium Paper Quality) designation further signifies that the note retains its original paper integrity, with no alterations, pressing, or restoration. This makes it one of the finest examples available for collectors.
In a 63PPQ example, the ink remains crisp and vibrant, with no fading or smudging. The deep black engraving contrasts beautifully with the bright white paper, allowing every detail of Washington’s portrait, Columbus’s vignette, and the decorative scrollwork to be fully appreciated. The red Treasury seal and serial numbers remain bold and vivid, adding to the overall visual impact of the note. The reverse retains its rich green hue, with no significant discoloration or toning.
The note’s paper remains firm and free from folds, creases, or handling marks, further confirming its uncirculated status. The edges are sharp and well-defined, with no fraying or damage. Centering is also a key factor in grading, and a 63PPQ note typically exhibits near-perfect centering, ensuring that all design elements are evenly proportioned within the margins. This level of preservation is rare for a note of this age, as most surviving examples show some degree of handling or wear.
The market demand for the 1917 $1 Legal Tender Note remains strong, especially for high-grade examples such as this. Collectors and investors alike seek well-preserved Legal Tender Notes due to their historical significance, artistic beauty, and limited surviving population. The fact that this note represents one of the final large-size Legal Tender issues adds to its desirability, as it marks the end of an era in U.S. currency design.
The legacy of the 1917 $1 Legal Tender Note extends beyond its numismatic value. It serves as a tangible link to America’s financial history, reflecting the evolution of government-issued paper money and the transition from large-size notes to the smaller, more standardized currency of today. As a symbol of the nation’s monetary heritage, it holds a special place in the collections of those who appreciate both history and artistry in numismatics.
The 1917 $1 Legal Tender Note Fr#39, graded 63PPQ Legacy, is a numismatic masterpiece that embodies the elegance and historical importance of early 20th-century U.S. currency. Its stunning design, featuring George Washington, intricate scrollwork, and vibrant red and green color elements, makes it a standout piece in any collection. With its exceptional preservation, premium paper quality, and strong market demand, this note remains a prized collectible, ensuring its continued appeal among enthusiasts of American paper money.