In a Story That Captivated Collectors and Historians
A remarkable discovery has left the collecting world in awe—an extremely rare 1890 U.S. Treasury Note, forgotten for decades in an attic, recently sold for an astonishing $1.4 million at a prestigious auction. What was once dismissed as just an old piece of paper turned out to be one of the most coveted pieces of American currency ever issued.
A Dusty Discovery in New Jersey
1890 treasury note rare
This unexpected treasure came to light in a suburban home in New Jersey. While going through stored items in the attic of a house passed down from a deceased relative, the homeowner stumbled upon a timeworn leather-bound book. Inside, along with faded newspaper scraps and antique postcards, was an old-looking banknote.
Intrigued by the find, the homeowner showed it to a nearby antique shop. The dealer, recognizing its historical and collectible importance, identified the note as a Series of 1890 $100 Treasury Note—one of the most elusive pieces of paper money still known to exist in the United States.
What Makes the 1890 Treasury Note So Rare?
The U.S. Treasury Notes issued in 1890 and 1891 are famously rare. Nicknamed “Watermelon Notes” because of the green zeros on the reverse side that resemble a watermelon rind, these notes were short-lived and quickly withdrawn from circulation. Over time, many were cashed in and destroyed, leaving only a few survivors.
What elevated this note’s value even further was its impeccable state. It had never entered circulation and showed no signs of wear—no creases, rips, or stains. Currency specialists confirmed that only a handful of such notes remain in such pristine form, making it a standout find in the world of numismatics.
A Bidding War at the Auction
After experts authenticated and appraised the note, it was listed with a renowned auction house. The lead-up to the auction generated significant buzz, with early value estimates ranging between $900,000 and $1.2 million.
When the bidding began, interest surged rapidly. Collectors and investors across the globe joined in online and by phone. In a matter of minutes, the bids shot well past expectations. The final sale price landed at $1.4 million, placing it among the highest amounts ever paid for a U.S. Treasury Note.
A Window Into American Monetary History
More than just a valuable collectible, the 1890 Treasury Note offers a glimpse into a key period in U.S. economic history. These notes were part of a monetary strategy to improve liquidity and were exchangeable for coinage, making them highly practical at the time. The intricate designs and advanced security features showcase the exceptional craftsmanship of late 19th-century currency production.
A Reminder of Hidden Value in Forgotten Places
This remarkable event highlights the hidden treasures that may be resting unnoticed in homes, attics, and basements. What seems insignificant at first glance—old documents, currency, or keepsakes—could carry significant historical and monetary value. Experts often recommend having such items evaluated before throwing them away.
Final Thoughts
The $1.4 million auction of the 1890 Treasury Note is more than just a headline—it’s a testament to the lasting value of historical artifacts. For a New Jersey family, it was a life-changing surprise. For collectors, it was the resurfacing of a legendary relic. And for the rest of us, it’s a reminder to check our attics—you never know what history may be waiting to be found.
FAQs
Why is the 1890 Treasury Note called a “Watermelon Note”?
The nickname comes from the green-colored zeros on the back of the note, which resemble the rind of a watermelon. This unique design feature has made the note especially memorable among collectors.
How many 1890 $100 Treasury Notes still exist today?
Only a small number of these notes are known to survive, and even fewer are in uncirculated condition. Experts estimate fewer than 20 examples are in collectors’ hands.
Can old banknotes really be worth millions?
Yes, certain historical notes—especially those that are rare, in excellent condition, or have unique features—can command high prices at auctions. Condition and rarity are key factors in determining value.
What should I do if I find an old currency note at home?
If you come across an old banknote, it’s best to have it assessed by a professional numismatist or antique dealer. Avoid handling it too much, and never try to clean or repair it, as this can reduce its value.
