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| $20 Treasury or Coin Note, Series of 1890 |
1890 Twenty Dollar Treasury or Coin Note
The Series 1890 Twenty Dollar Treasury or Coin Note was ranked 61 st most beautiful note in the book 100 Greatest American Currency Notes compiled by Bowers and Sundman.
Obverse: Bust of John Marshall, fourth Chief Justice of the United States, who served on the Supreme Court from 1801-1835. He was also Secretary of State from 1800-1801. Large brown spiky treasury seal at right and ornamental floral devices at the borders.
Reverse: The word "TWENTY" - The face value spelled in large letters and surrounded by an ornate design that took up almost the entire note.
Signatures: (as depicted) William Starke Rosecrans, Register of the Treasury and James Nelson Huston, Treasurer of the United States.Inscriptions: Series of 1890 - Legal Tender Act July 14 1890 - Bureau, Engraving & Printing - Register Of The Treasury - Treasurer Of The United States - Sheridan - Treasury Note - The United States Of America Will Pay To Bearer Twenty Dollars In Coin Washington, D.C. - Amer Septent Sigil Thesaur - This Note Is A Legal Tender At Its Face Value In Payment of All Debts, Public and Private, Except When Otherwise Expressly Stipulated In The Contract.
1890 - 1891 Series
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 as a result of the Legal Tender Act of July 14, 1890 (Sherman Silver Purchase Act). This Act authorized the Secretary of the Treasury to issue these notes in payment for silver bullion purchased by the Treasury Department. The entire issue of these notes thus became backed by metallic reserves. The notes were redeemable in actual coin, but whether silver or gold coin should be paid out was left to the discretion of the Secretary of the Treasury.The coin notes were issued in denominations of $1, $2, $5, $10, $20, $50, $100, and $1000 Dollars of the series of 1890 and 1891. A 500 Dollar note with portrait of General Sherman was also authorized and a plate made, but only a proof impression of the note is known; it was not placed in circulation.
The obligation on the Treasury or Coin Notes is as follows: “The United States of America will pay to bearer ...... Dollars in coin ... This note is a legal tender at its face value in payment of all debts public and private except when otherwise expressly stipulated in the contract.”
A distinguishing feature of the Series 1890 notes (and one that greatly appeals to collectors) is the extremely ornate designs on the reverse side of the notes. The intent of this was to make counterfeiting much more difficult, but opponents of the design argued that the extensive detail would make it more difficult to distinguish between genuine and counterfeit notes. Consequently, the reverse designs were simplified on the Series 1891 Treasury Notes issued the following year.
The Treasury Note was issued by the government to individuals selling silver bullion to the Treasury. Unlike other redemption notes like silver and gold certificates (which stipulated whether the note was backed by and redeemable for silver or gold coin, respectively), Treasury Notes stipulated only that they were redeemable in coin. This allowed the Treasury to fulfill the note's obligation in silver coin, gold coin, or both, at its discretion when the note was redeemed. This flexibility allowed the Treasury some control over releasing gold or silver when the relative value of the two metals fluctuated. The origin of the term "Coin Note" to describe the note is unclear – it may refer either to the coin it could be exchanged for, or derive from the fact that it was issued to pay for silver that would later be turned into coins.
1890 Issue
1 Dollar 2 Dollars 5 Dollars 10 Dollars 20 Dollars 100 Dollars 1000 Dollars
1891 Issue
United States 20 Dollar Bill, Treasury or Coin Note, Series 1890
20 Dollars : United States Military Payment Certificates US MPC
John Marshall, fourth Chief Justice of the United States
John Marshall (September 24, 1755 – July 6, 1835) was the fourth Chief Justice of the Supreme Court of the United States (1801–1835). His court opinions helped lay the basis for United States constitutional law and made the Supreme Court of the United States a coequal branch of government along with the legislative and executive branches. Previously, Marshall had been a leader of the Federalist Party in Virginia and served in the United States House of Representatives from 1799 to 1800. He was Secretary of State under President John Adams from 1800 to 1801.