$100 1891 Treasury Note, Fr. 378 =RARER THAN WATERMELON= Farragut PMG Fine 12

Due to rampant counterfeiting, the U.S. Treasury abandoned its ornate 1890 Treasury Note back designs for a more anti-counterfeiting friendly design. The design features open areas where colorful paper fibers could be seen with ease. Treasury Notes were only issued for a short time after the change and far fewer were issued than of the 1890 Series. The design change occurred for the $1000 denomination also, creating one of the ultimate rarities. The 1891 $1000 Treasury Note with the open back is unique in collector hands and sold a couple years ago for $2.1 million. This exceedingly rare type note is often overlooked in favor of the coveted "Watermelon" type. It is, however, much scarcer. Twelve surviving examples is misleading when nearly half of the notes are unavailable and part of permanent institutional collections. PMG mentions restorations which are reinforced corners and a little bit of margin work. The body of the note is essentially unaffected, leaving the design details as they were.

Series Year	1891
Country	United States
Denomination	$100
Grade	12
Signature	Rosecrans Nebeker
Grading Agency	PMG
Category	Treasury or Coin Notes
Serial No	B48693
Status	Active
Seal	Small Red, Scalloped