Since 1865 the Gold certificate was popular. Its design had remained unchanged since 1882 except for the two largest denominations. The 1905 modification limited to the smallest denomination, $ 20, is certainly experimental. No other federal note had such brilliant colors. Much later this emission will receive the nickname Technicolor.
The gold is symbolized by the bright yellow color of the inside part of the front size and of the letters IN GOLD COIN under the portrait of President Washington who from then replaces Garfield in the cartouche. For the first time an additional impression is made for the sole purpose of improving the visual appeal of the note. The back is a gorgeous orange-gold monochrome. In the following year they become more reasonable : the 1906 series of the $ 20 is released without the extra printing.
The two most beautiful specimens of the 1905 Technicolor are for sale in Philadelphia by two different auction houses.
On August 16, Stack's Bowers sells the Number 1, graded Gem New 65 PPQ (Premium Paper Quality) by PCGS. Its perfect state suggests that it was a presentation copy. Indeed an information accompanying the number 3 in an auction in 2005 plausibly claimed that the number 1 had been attributed to President Roosevelt. It is estimated $ 300K, lot 2051. It had been sold for $ 240K including premium by Heritage in February 2005.
The other example, graded Superb Gem 67 EPQ (Exceptional Paper Quality) by PMG, is estimated $ 120K for sale by Heritage on August 17, lot 20084. It had been previously sold by the same auction house for $ 138K including premium in April 2012 and for $ 106K including premium in January 2015.
RESULTS INCLUDING PREMIUM :
Stack's Bowers : SOLD for $ 550K
Heritage : SOLD for $ 102K