1907 $5 Legal Tender Note VG

The 1907 $5 Legal Tender Note, often referred to as the "Series of 1907" or "Woodchopper Note," is a historically significant piece of U.S. currency, representing both a pivotal era in American history and a remarkable example of the art of note design. This series, issued by the U.S. Treasury, features portraits of historical figures and is renowned for its visual beauty, intricate details, and the role it played during the early 20th century in the United States' financial system. The 1907 $5 note is considered a key part of U.S. currency history and continues to captivate collectors and investors alike.

One of the most distinctive features of the 1907 $5 Legal Tender Note is its design, which stands apart from previous issues. The note is often referred to as the "Woodchopper Note" due to the illustration on the reverse of a man chopping wood, representing the theme of labor and the working class. This imagery is a reflection of the Populist ideals that were prominent at the time, as well as the economic realities facing many Americans during the early 20th century. The obverse of the note displays a portrait of Abraham Lincoln, the 16th President of the United States, who is forever associated with the preservation of the Union during the Civil War. Lincoln’s image is placed in the center of the note, framed by ornate scrollwork and flanked by inscriptions, including "The United States of America" and "Five Dollars." The design also includes a large, stylized "5" prominently featured in the corners, making the note easily identifiable at a glance.

The 1907 $5 Legal Tender Note was part of a series issued during a time of transition in U.S. currency design. The 1907 series marked the end of the use of "Chief" series notes that featured only portraits of the nation’s leaders and the introduction of more complex designs, incorporating additional allegorical imagery and symbolic representations of the American values of the time. The change in design was influenced by the increasing focus on the U.S. Treasury’s goal of producing more secure, aesthetically appealing, and harder-to-counterfeit notes. The 1907 series was also among the last to feature the unique design elements that made earlier U.S. notes stand out, before more modernized, standardized designs took over in the following decades.

In terms of minting and mintage, the 1907 $5 Legal Tender Note was printed in large quantities, but due to the nature of its design, its relative scarcity today contributes to its appeal to collectors. While exact mintage figures for this series are difficult to ascertain, it is generally accepted that the number of notes printed was substantial, with several million notes being produced during the year. However, many of these notes were eventually destroyed, either due to the normal process of wear and tear, the issuing of new notes, or the federal government’s periodic removal of old currency from circulation. This means that surviving 1907 $5 Legal Tender Notes are relatively rare, particularly in high grades, and are highly prized by numismatists and collectors.

One of the most notable aspects of the 1907 $5 Legal Tender Note is the scarcity of examples in high grades. Most notes that survived the years show some degree of wear, and many have been subjected to folding, creasing, and handling that have resulted in less-than-ideal conditions. The condition of a note is graded based on several factors, including its overall appearance, the level of wear on the paper, the legibility of the design elements, and the presence of any stains, tears, or other damage. A 1907 $5 Legal Tender Note in VG (Very Good) condition, as the one described here, generally shows signs of heavy use, with noticeable creases, folds, and perhaps minor edge wear, but it still retains most of its original design elements. It would be expected to have some discoloration or fading from the years it spent in circulation, but it is still relatively legible and identifiable as a historical piece of currency. The VG grade is a popular choice for collectors who are interested in owning a piece of history at a more accessible price point compared to higher-grade examples.

The 1907 $5 Legal Tender Note holds a special place in the history of U.S. paper money. In addition to its unique design and historical significance, it was also issued at a time when the U.S. government was transitioning toward a more modernized currency system. The early 20th century was a period of great economic change in the U.S., marked by industrialization, the rise of big business, and the beginnings of more centralized banking. This era also saw a shift in U.S. currency design, with the introduction of new elements meant to prevent counterfeiting, and the use of more elaborate designs to reflect the growing global stature of the United States. The 1907 series, including the $5 note, represents a turning point in this ongoing evolution of U.S. currency.

The 1907 $5 Legal Tender Note is also a significant part of the broader history of U.S. paper money in that it was one of the last series issued before the U.S. government began to fully embrace the Federal Reserve Notes that became the standard for U.S. currency. This marked a shift in the way the U.S. monetary system was organized, with the Federal Reserve becoming the central body responsible for issuing currency. As such, the 1907 $5 note is seen by collectors as an important historical marker, representing a key moment in the transition from the old system of state-chartered banks issuing their own notes to the more centralized, federally-controlled system we see today.

For collectors, the 1907 $5 Legal Tender Note is a coveted piece of U.S. history. Its combination of artistic design, historical significance, and relative rarity makes it a valuable addition to any collection. Whether displayed as a centerpiece of a collection of U.S. currency or treasured as a symbol of a pivotal era in American history, this note continues to capture the interest of collectors from around the world. Given its place in the evolution of U.S. currency design and its status as a reminder of the nation’s financial history, the 1907 $5 Legal Tender Note is sure to remain an important and sought-after item for years to come.

• Denomination: N/A
• Year: 1907
• Diameter: N/A
• Mint Mark: N/A
• Thickness: N/A
• Grade: N/A