1869 $5 Legal Tender Note | Fr. 64 | “Rainbow Note” | PCGS Currency Very Fine 30

A mid-grade example of a classic design that has long been popular with both collectors and dealers. This piece represents the earliest iteration of this design that would linger through the late 1920s via a series of progressively less intricate iterations such as the Series of 1880 and Series of 1907. Known simply as the Woodchopper owing to the forceful depiction of a frontier family at center defined by the family’s patriarch who is seen wielding an ax above a felled tree with his family and home behind him. The Series of 1869 represents an explosion of color embodied best by the green underprinting along the top margin and the blue-stained paper evident to the left of the central vignette which both contrast nicely against the large spiked pinkish-red Treasury seal that can be observed at right. Such traits are plain with this example which offers a degree of eye appeal uncommon among circulated examples; making this an opportunity to be had by bidders who wish to represent this Friedberg Number in their own collection. Some minor faults have likewise been noted by PCGS Currency. PCGS Currency comments “Small Edge Splits; Repairs.”

The Legendary “Rainbow Note” Design

The Fr. 64 $5 Legal Tender is the flagship issue of the famed 1869 Rainbow series, named for its unprecedented use of multiple ink colors—an advanced anti-counterfeiting measure for the era.

Design highlights include:

• A finely engraved central portrait of Andrew Jackson

• A dramatic blend of red, blue, green, and black inks

• Intricate scrollwork, lathe patterns, and ornamental typography

• A bold, symmetrical layout that commands immediate attention

Even by modern standards, the Rainbow Note is widely regarded as one of the most beautiful banknotes ever issued by the United States.

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📜 Historical Context – Currency in the Reconstruction Era

Issued during the late 1860s, the 1869 $5 Legal Tender Note reflects a nation rebuilding both economically and politically following the Civil War. Legal Tender Notes—commonly called United States Notes—were backed by the full faith and credit of the U.S. government and circulated alongside gold and silver-backed issues.

During this period:

• The federal government sought to restore confidence in paper currency

• Currency design became a symbol of national stability and unity

• Enhanced engraving and multicolor printing helped reduce fraud

Because these notes were used extensively in everyday commerce, especially in the popular $5 denomination, surviving examples in solid condition are increasingly scarce.

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💎 PCGS Currency Very Fine 30 – Balanced Preservation & Eye Appeal

A grade of Very Fine 30 from PCGS Currency indicates a note that saw moderate circulation but remains well preserved and visually appealing. For a large-sized note more than 150 years old, this grade is both respectable and desirable.

This grade typically reflects:

• Clear, well-defined portrait and lettering

• Even circulation wear without major damage

• Solid paper integrity and intact margins

• No significant tears, repairs, or restoration

Collectors often favor VF examples of Rainbow Notes, as they retain bold color and strong detail while maintaining the authentic character of a circulated 19th-century note.

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🎨 Large-Size Format & Display Presence

The imposing large-size format of the 1869 $5 Legal Tender allows the vibrant colors and intricate engraving to truly stand out. Compared to modern small-size currency, these notes have a commanding, museum-quality presence that makes them ideal for display or centerpiece placement in a collection.

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📈 Collector Demand & Market Appeal

Why Fr. 64 Is a Cornerstone Type Note

• One of the most iconic designs in U.S. paper money

• Strong demand across all levels of collectors

• Frequently illustrated in reference books and museum exhibits

• Consistent long-term market liquidity

Condition Matters

While lower-grade Rainbow Notes are available, PCGS-certified VF 30 examples are far scarcer and remain in steady demand due to their balance of condition, affordability, and visual impact.

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🏛️ An Essential Piece of American Numismatic History

The 1869 $5 Legal Tender “Rainbow Note” is widely regarded as a cornerstone of U.S. paper money collecting. It represents:

• A defining moment in American currency artistry

• A tangible link to the Reconstruction era

• One of the most admired designs ever issued by the United States

Collectors often pursue the Fr. 64 alongside other legendary issues such as the 1896 Educational Series and the 1875 Legal Tender Notes.

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🔒 Conclusion

The 1869 $5 Legal Tender Note (Fr. 64), graded PCGS Currency Very Fine 30, is a historically significant and visually stunning example of classic American paper money. Its iconic Rainbow design, solid mid-grade preservation, and enduring collector demand make it an excellent acquisition for collectors of large-size U.S. currency, Legal Tender Notes, and iconic 19th-century issues.

As certified Rainbow Notes continue to be absorbed into long-term collections, opportunities to acquire a PCGS-certified VF example remain increasingly competitive.