*Highlight* 1869 "Rainbow Woodchopper Note" $5 Large Size Legal Tender Note cu64 PMG Signatures Alison/Spinner ...

*Highlight* 1869 "Rainbow Woodchopper Note" $5 Large Size Legal Tender Note cu64 PMG Signatures Alison/Spinner (fc). FR-64 One of the most coveted and sought-after currency pieces in American history is this 1869 Legal Tender Series “Rainbow” Note, so named for the colorful appearance of the front design, which features a red Treasury seal and serial numbers, a green frame around the serial number, a green tint at the top of the note, and a vertical blue tint or “stain” that runs vertically through part of the paper. Not only are the 1869 Legal Tender Series notes the only notes which bear the label “Treasury Note” instead of the label “United States Note,” found on all later issues, This $5 "Woodchopper" Note Listed as #47 in the book 100 Greatest Currency Notes by Q. David BowersJust one of several denominations receiving the “Rainbow Note” designation, the $5 Legal Tender issue of Series 1869 features red serial numbers and a red Treasury seal atop a paper that is accented with a light blue tint vertically for a third of the note. A security precaution, the same blue tint paper was also used on some National Bank Notes and Fraction Currency. The portrait of the nation’s 7th President of the United States, Andrew Jackson, is featured on the face of the note in the bottom left corner. It was based on a painting by Thomas Sully that engraver Alfred Sealy used for the depiction.The center of the face of the note features “The Pioneer Family” which was engraved by Henry Gugler. With his family behind him, the image showcases a frontiersman who holds an ax as he is thought to be building shelter. The image was chosen to represent the American West as the lands were still being settled. This motif was used for the $5 Legal Tender Series until the late 1920s although the back would change in 1907. Over 10 million notes were printed of the 1869 Rainbow Notes with just a 1,000 or more predicted to exist today.President Jackson was particularly important in the world of finance and banking and took a stand against the Second Bank of the United States which operated from 1816 to 1836. Scandal and mismanagement would plague the bank, calling for Jackson to campaign against the bank in addition to his election for President. He would win both campaigns and private banking interests would breathe a sigh of relief at the removal of the federal banks.