1891 $1 Treasury Note

These notes were issued as a result of the Legal Tender Act of July 14, 1890 that authorized the Secretary of the Treasury to issue these notes in payment for silver bullion purchased by the treasury Department. These notes were redeemable in actual coin but whether silver or gold coins should be paid out was left to the discretion of the Secretary of the Treasury. The portrait is of Edwin M. Stanton, Secretary of War under Presidents Abraham Lincoln and Andrew Johnson. This note is graded by PMG as a VF30 and is valued at $425.