It is no surprise that gold certificates would be weaved throughout Whitman Publishing’s 100 Greatest American Currency Notes list. We will take a closer look at one of them today as authors Q. David Bowers and David M. Sundman break down the series and its incredible vignette inspired by an event in American history.
#95 – Series of 1882 $20 “Ocean Telegraph” Gold Certificate
The face of the 1882 $20 Gold Certificate (Ocean Telegraph) depicts James A. Garfield. Garfield was elected the 20th President of the United States in 1880 before he was assassinated in July of 1881. An eagle holding a lightning bolt with two cable-laying ships in the background appear on the back of the notes. This vignette is referred to as the “Ocean Telegraph.” Around 500 examples are known to exist today.
In the summer of 1858, the Atlantic telegraph was completed. Great celebrations were held, including in New York City where a grandiose display was held in the streets and inside the Crystal Palace. Connections between Europe and America were made possible instantaneously. However, this caused considerable ramifications in terms of news and financial information. Signals were interrupted or unable to complete, with the last clear message received on September 1st, 1858. The project was abandoned soon after the message. Fast forward to after the Civil War when a connection was finally made.
Although unsuccessful in the long run, it was a significant event in history that inspired several medals.
Historic market value for the 1882 $20 “Ocean Telegraph” Gold Certificate in 1960 for a Choice Crisp Uncirculated note was $150. By the printing of this publication (2006), it had risen to $7,000.
