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The 1917 $1 Legal Tender Note, graded VF20 by PCGS, is a highly sought-after piece of American currency that offers a glimpse into the history of U.S. paper money during the early 20th century. Legal Tender Notes, often referred to as United States Notes, were first issued during the Civil War as a way to finance the Union’s efforts. They continued to circulate for many years, with the 1917 series being among the last issues before they were phased out in favor of Federal Reserve Notes. This particular note, in VF20 condition, shows moderate circulation wear but retains much of its original detail, making it a desirable piece for collectors interested in historical U.S. paper currency.
The obverse design of the 1917 $1 Legal Tender Note is both intricate and visually striking. At the center of the note is a large portrait of George Washington, based on the famous Gilbert Stuart painting of the first president. Washington’s image is framed by a decorative oval, with ornate scrollwork extending outward in all directions. To the left of Washington’s portrait is an allegorical figure representing Liberty, seated and holding a shield emblazoned with the American flag. The figure of Liberty is a recurring theme in U.S. currency, symbolizing the nation’s ideals of freedom and democracy. To the right of Washington’s portrait is a red seal, a distinctive feature of Legal Tender Notes, with the words "UNITED STATES" and "ONE DOLLAR" prominently displayed. The serial numbers on this note are printed in red ink, which contrasts nicely with the overall design. The intricate details of the obverse design, combined with the historical significance of Washington’s portrait, make this note a standout piece of U.S. currency history.
The reverse of the 1917 $1 Legal Tender Note is equally impressive, featuring a complex geometric design that showcases the craftsmanship of early 20th-century engravers. The center of the reverse is dominated by the large denomination "ONE," with elaborate scrollwork and intricate patterns radiating outward. The phrase "UNITED STATES OF AMERICA" is inscribed across the top, while "ONE DOLLAR" appears prominently at the bottom. The reverse design is symmetrical and balanced, with an emphasis on the denomination and the country of issue. The green ink used on the reverse is typical of U.S. currency from this period and contrasts nicely with the more elaborate design elements on the obverse. The overall composition of the reverse reflects the emphasis on security features and anti-counterfeiting measures that were becoming increasingly important in U.S. currency design during the early 20th century.
The 1917 $1 Legal Tender Note was printed by the Bureau of Engraving and Printing (BEP), the government agency responsible for producing U.S. paper money. Legal Tender Notes, also known as "United States Notes," were authorized by the Legal Tender Act of 1862, during the height of the Civil War. These notes were issued to help fund the Union’s war efforts and were considered legal tender for all debts, public and private. Unlike later Federal Reserve Notes, Legal Tender Notes were not backed by gold or silver but by the credit of the U.S. government. The 1917 series was among the last of these notes to be issued, as Federal Reserve Notes became the dominant form of U.S. currency in the years that followed. The 1917 series is notable for its artistic design and historical significance, representing the transition from earlier forms of U.S. paper money to the modern Federal Reserve system.
In terms of mintage, the 1917 $1 Legal Tender Note had a relatively large issuance, as it was intended to circulate widely as part of the everyday currency supply. However, as these notes were gradually replaced by Federal Reserve Notes in the decades that followed, many were redeemed and destroyed, making surviving examples more difficult to find. Notes in higher grades, especially those with minimal wear, are particularly prized by collectors. The VF20 grade assigned to this note by PCGS indicates that it is in Very Fine condition, with moderate wear visible but no major damage or significant flaws. The note retains its structural integrity, with clear, readable details and vibrant ink colors, making it an attractive piece for collectors interested in U.S. currency from this era.
The 1917 $1 Legal Tender Note holds a special place in the history of American paper money, as it represents the end of an era for U.S. currency. Legal Tender Notes, first issued during the Civil War, were a vital part of the nation’s financial system for many decades. By the time the 1917 series was issued, the U.S. was preparing to enter World War I, and the country’s financial system was undergoing significant changes. The transition to Federal Reserve Notes was well underway, and the 1917 Legal Tender Note stands as one of the last examples of this earlier form of U.S. currency. Collectors value these notes not only for their historical significance but also for their intricate designs and the craftsmanship that went into their production.
The Certified 1917 $1 Legal Tender Note VF20 PCGS is a valuable addition to any collection of U.S. paper currency. Its historical importance, combined with its artistic design and solid preservation, make it a standout piece. Whether collected for its numismatic value, its connection to American history, or its aesthetic appeal, this note is a tangible reminder of the evolution of U.S. currency and the nation’s financial system during a pivotal time in its history.