Inventory - Miscellaneous Obsoletes and Southern States - Tennessee:
 

Below are my current offerings in Tennessee. Visit the Terms page to order.


 

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Abbreviation Key


      All notes in stock unless otherwise indicated. Hundreds more notes from all Southern States to be added as time permits. If you don't see it; please feel free to ask. Odds are I have it. 99% of my inventory is NOT listed on the Web Site.    

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TN                 TENNESSEE
     TN  $    5

  Agricultural Bank of    

       Tennessee

 

       G-34

 

 

 

 

 

     Brownsville               

  August 9, 1855

 

 

 

 

 

 

 

     Stamped

"A.J. Stevens & Co.     Bankers FORT DES

MOINES, IOWA"

Serial # 6????. Somewhat hard to make out. Dated August 9, 1855. Central vignette of Ceres ascending to  the "Heavens". Farmer with dog and sheep to far right. Farmer sharpening scythe to upper left. State seal to lower left. plain back. Chartered in 1854 and sold to Iowa banker A.J. Stevens. All assets were moved to Fort Des Moines, Iowa, upon the sale of the bank to Stevens. Brownsville lies in the far wester portion of the state, not far from the Mississippi River. At the time this note was printed, it was a major hub for the transportation of cotton. In 1855, the communities population was right at 1,000. Today, the 2010 census indicates a population of 10,292. The Agricultural Bank printed and issued only low denomination notes of $1, $2 and $5. These issues were heavily used in day to day commerce which is abundantly evident from those notes which survive today. While not rare, most often encountered with major soling, tears, margin chinks, margin tears, holes or completely uncollectible. Amazingly, not one single pinhole and extremely bright. I know of no issues emitted from this bank which grade true very fine. A note may perhaps be encountered in a grading service holder bearing such a grade, although the note will not grade Very Fine utilizing, the more conservative "Collectors Criteria".There exist no Extremely Fine or Uncirculated examples of any issue from this bank as with some other banks from different states. Given the distance between the two towns, the presence of a Fort Des Moines, Iowa stamp upon a Tennessee obsolete is a most unusual occurrence within the obsolete paper money world and adds to the note desirability appeal. A superb note for the grade and about as nice as these come. FINE  $175  

Reverse
Pic 2

    TN  $  20      Central Bank

         

       G-928

 

    July, 1855

 

 

 

 

   Parent Bank at

       Nashville

 

 

 

 

 

 

 

 

 

     GEM CU

 

Serial # 286. Engraved date of July 10, 1855. Central vignette of Liberty seated with eagle. Train within oval to lower right and Liberty seated with shield to lower left. Plain back. The highest denomination issued by this Nashville bank; with branches at Dandridge and Paris. The bank opened in 1855 and closed it's doors in 1859. The note here offered is drawn upon the parent bank at Nashville. Oddly; the $20 note was not issued from the Dandridge branch at all. While Garland, in his 1983 work rates this note a rarity 9 (26-30 survivors in any grade); I would respectfully disagree. Many of Garlands rarity ratings have withstood the test of time; however, in some cases more notes have surfaced and in some cases, none have; thus understandably skewing the rarity ratings. In this instance; the $20 issue is more rare than indicated and very, very seldom seen. Of the few $20 issues I have encountered throughout the years; those notes with "Nashville" written in the location upon the front bear a 3 digit, red number on the back, whereas those which are blank do not. This tells us that the red, three digit number is contemporary to the note itself; although remains a mystery as to why is was placed there. The immaculate example offered here bears the red ink number of 290. Most often found with mediocre trim; when located at all. An extremely light, non-distracting foxing spot is noted at the upper right corner from the back. A gem in all respects and as bright, fresh and crisp as the day it was printed. Incredible trim and superb eye appeal. Very much underrated. Rarity and quality; a combination which cannot be beat.

GEM

Uncirculated

 $675  

Reverse

   TN  $  10     Central Bank

  

       G-274

 

 

 

    Dandridge

 

 

 

 

      1855

Serial # 1611. Dated July 11, 1855. Bank title in center with large, red "TEN" overprint. Man harnessing horses to lower right. Vignette of "Continental" drummer and two other men to lower left. Plain back. Only $5 and $10 denomination notes upon the Central bank were issued at Dandridge. Located in East Tennessee at the confluence of the historic French Broad and Nolichucky rivers, Dandridge is indeed a beautiful location. Further, a mere "stones throw" away from Strawberry Plains and the home of Confederate Depositary J.G.M. Ramsey and his home "Mecklenburg". Interestingly, the $5 and $10 notes emitted from the branch bank at Dandridge were not utilized whatsoever at the Parent bank in Nashville or the other branch of this bank at Paris. Most unusual. While there was of late a small group of around 25 high grade $5 notes from the Central bank at Paris discovered; such is not; nor never has been the case, relative to either the $5 or $10 note from Dandridge. The $5 note from the Paris branch is listed below. Those notes listed here were not part of the recent discovery and were acquired by me for $150-$200 more than the asking price. This happens on rare occasion. Irregardless, Garland's Tennessee reference rates this note as an R-8 (31-40 known in any grade). I do not believe this note to be an R-8, as more notes have been discovered since Garland's work was published in 1983. Nonetheless; this note is very difficult to locate in high grade. If one were to assume that the Dandridge notes may be found in the same condition as the $5 note from Paris, such assumption would be woefully wrong. Usually seen in Fine or worse with stains or other problems. Downright rare in true VF to XF; and the cost goes up geometrically in the rare event a high grade (VF/XF) is located. The note here offered is leaps and bounds above average for this branch bank. A few edge bumps (which could have been trimmed away-but not by me) and some minor smudging; otherwise a bright, well inked and attractive note. No pinholes, tears, or other problems.

 FINE

 

 

Mkt Grade

 VF-20

 $185  

Reverse

    TN  $ 10     Central Bank

  

      G-274

  Dandridge

   1855

Serial # 1435. Dated July 11, 1855. Same vignettes as above. Superb trim and about as nice as these come. No pinholes or problems of any kind with superb eye appeal. Crispness and body of a CU note. At this time, it is unknown what the red "A" stamp represents. Perhaps it was some type of control stamp or the like. Razor sharp corners. As clean as a pin with bight, bold, vivid signatures, serial numbers, location and date in brown ink. Very tough to locate better than this.

CHOICE

    VF+

Mkt Grade

 XF-40

 $325  

Reverse

    TN  $ 10     Central Bank

  

      G-274

 

 

 

 

  Dandridge

 

 

 

   1855

Serial # 2642. Dated July 11, 1855. Without reservation, the finest G-274 I have ever seen or handled. Simply incredible for this particular bank. Snow white with gorgeous trim. Bright, vivid red overprint. As stated previously, there are no known groupings or hoards of this note which have been stumbled across. As this branch only issued $5 and $10 denomination notes; they saw heavy use. I have collected Tennessee for over 40 years and have seen nothing that comes close to this note from the branch issue from Dandridge. A note which truly has to be seen to be appreciated. The right back illustrates what is known as a "sheet crimp" or "gutter fold as well as any note one might see. The long vertical line you see to the right, as well as all but one of the diagonal lines at the upper, right back are actually as made and are sheet crimps. They are "raised". In the scan, they can easily and justifiably be mistaken for folds. The note does have a tiny corner fold at the very tip of the top right and left corners. A diagonal sheet crimp also exists at the upper left back. The grading services do not downgrade an obsolete for as made crimps. Paper for these notes came in large reams and was then cut into sheet size pieces for printing. On occasion, a "pinch" or sheet crimp" occurred either during the paper manufacturing process; when the ream was being handled or when sheets from the ream were cut off for printing. To me; this adds to an obsolete note's appeal, as it vividly illustrates the best printing methods known 160 years ago were not perfect. I simply do not know how one could ever improve upon this example. Extremely rare this nice.

CHOICE

    AU

 

 

Mkt

Grade

AU 58

 $425  

Reverse

    TN  $   5     Central Bank

  

      G-273

 

 

 

 

  Dandridge

 

 

 

 

   1855

Serial # 1873. Dated July 11, 1855. Portrait of Charles Carroll in oval; right center. Solider in full uniform returning home from the Mexican War greeted by his wife and child to upper left. Most unusual; full equestrian vignette of George Washington to lower right. Red "FIVE" overprint. Plain back. An amazing obsolete which so ably displays the very reason collectors find these notes so intriguing. Upon this five dollar note; issued in 1855 from a very small town in the mountains of East Tennessee, we find three wonderful vignettes illustrating very significant events or people from this great nation's past. First; the most unusual and scarce vignette of Charles Carroll. Carroll was a fierce advocate of independence from Great Britain and a signer of the Declaration of Independence; settling in Maryland. A staunch Catholic; volumes have been written upon him and his role in the formation of our nation. Second; we see a vivid and heart warming vignette which references our war with Mexico. Finally; we see a seldom seen and unusual full vignette of George Washington, the "Father of our Country", upon horseback. Most vignettes of Washington appear upon obsoletes as portraits of his face in an oval or the like. While the Central Bank operated from 1855 to 1859; Only notes dated 1855 are known from the Dandridge branch. The branch likely only operated for one year; 1855. Not an extraordinarily difficult note to locate in very good to perhaps fine; it is excessively scarce in grades of VF or better. This branch only emitted $5 and $10 notes. Consequently; they were used heavily and the vast majority encountered are seen with stains, tears, holes, corners off and the like. To shorten this; just a gorgeous design and an exceptionally well preserved example. As clean as they come. Crisp, bright, fresh and masterfully trimmed.. A wonderful piece of American history which is; at this point in time, very affordable. Very scarce this nice.

Choice

Very Fine

 

Mkt Grade:

XF-40

 $325  

Reverse

    TN  $  5   Central Bank

  

      G-273

 

 

 

  Dandridge

 

 

   1855

Serial # 1861. Dated July 11, 1855. Same vignettes as above. Without reservation, the finest $5 Central Bank note from the Dandridge branch I have ever seen. I vividly recall my beginning days of collecting obsolete bank notes. Several times, I passed on certain notes bearing the thought "I'll wait for an "uncirculated" example". It did not take long to realize that such an approach would yield very, very few notes for my collection. It is very difficult to convey just how far from the norm this note is for this particular bank. These do not exist in "uncirculated" condition. Perhaps we should say that none are known. The note itself is not extremely rare. The key: this note is extremely rare in the state of preservation this piece remains. I do not list "run of the mill" notes here. Locating this note above the grade of Fine is indeed a feat. If I so desired, I could go to a paper money show and acquire dozens of examples of this note. I could go to a thousand paper money shows and be unable to locate a single example as nice as this one. The two diagonal lines at the lower left back are actually "sheet crimps" and as made. They are not folds. Cracking crisp, bright and simply superb. Choice trim. It is very easy to forget that this old piece of Americana is 160 years old. Amazing.

CHOICE

Extremely

Fine

 $395  

Reverse

    TN  $  5     Central Bank

  

     G-1094

 

   Battle of New  

      Orleans

 

    

         Paris

 

          1855

Serial # 5756. Printed date of July 10, 1855. Stunning central vignette of the Battle of New Orleans. Liberty with shield seated in front of ornate "5" to lower left. Cattle being herded with bridge in background to right. Unfinished U.S. Capitol building at lower middle. Plain back. This particular design was utilized upon five dollar issues from the parent bank at Nashville and the branch bank at Paris in West Tennessee; although not upon five dollar notes emitted from the branch bank at Dandridge located in East Tennessee. Simply an incredibly detailed vignette of the Battle of New Orleans created and engraved by Danforth, Wright & Co. of New York. This firm was later acquired by the American Bank Note Company and employed the use of this same vignette upon the Bank of Chattanooga $100 issue. A breathtaking and totally problem free note which is crackling crisp, fresh and bright. A very common sight of the continuation of the signatures from the note above (plate "A") upon the uncut sheet are seen at the top back. This is the "B" plate note from the same sheet and perfectly normal. The light folds are most likely due to storage or the like over the years and not use. All the characteristics of a Gem Uncirculated note exist here. Truly illustrative of what collecting these wonderful pieces of history is all about.

CHOICE

    AU

 

 $295  

Reverse
Pic 2

   TN  $  5     Central Bank

  

   G-1094

   Battle of New  

      Orleans

   1855 Paris

   

Serial # 5709. Printed date of July 10, 1855. Same as above. Incredible trim and eye appeal beyond description. One of the most appealing and desirable black and white obsolete bank notes there is. One could only imagine what this note would look like with blazing red color overprints. Justifiably; the Board of directors likely chose the less expensive route, due to the extremely high cost of producing notes bearing color. Red ink was very expensive and this bank was simply not that large. A beauty and totally problem free.

CHOICE

     AU

 

 $295  

Reverse

   TN  $ 1  Central Bank

  

     G-917

 

      1855

    Nashville

Serial # 485. This bank opened it's doors in 1855 and closed in 1859. The parent bank was at Nashville, with branches at Dandridge and Paris. A gem, this note bears simply beautiful vignettes. Most obsolete notes cannot be located in this grade; especially those from Tennessee. Dated June 25, 1855. It is truly hard to believe that this note was issued over 160 years ago. If you want the best; this note is for you. The signatures are correct; with absolutely no problems. Perfect trim, superb contrast and eye appeal. A note that was at one time seen once or twice a year. Not so today.  GEM

   CU

 $400

 

 

Reverse

    TN  $ 1

     Central Bank

 

        G-917                

   

 

 PCGS EXTREMELY

         FINE 45               

 

 

 

       Nashville 1855                                 

Serial # 902. Engraved dated of June 25, 1855. Magnificent vignette of field hands gathering wood in center. Stage coach to lower left. Two men with rakes to lower right. Plain back. This particular note was issued at the parent bank in Nashville. As well trimmed as one is likely to ever observe one of these. Wonderful detail, with no ink bleed, pinholes or problems of any kind. Clear, legible signatures and serial number. No distractions whatsoever and most desirable as such. A true look at our great nation's past though the lens of a choice 163 year old Southern Obsolete Bank note. A wonderful note for someone who sees neither the need nor has the desire to spend the money for a Gem. From the famous Eric P. Newman collection.

     PCGS EXTREMELY               FINE 45       

        

 $225

  SOLD

 

Reverse

   TN  $  2  Bank of Chattanooga

        G-62

 

    August, 1861

Very High Grade for

    This Bank & 

    Denomination         

                                          

Serial # 152166. Printed date of August 18, 1861. While not a rare note; the small denomination notes from this bank were workhorse notes and are very seldom seen this clean and bright. One could look through hundreds upon hundreds of these and never locate an example as well preserved as this one. Very scarce in this state of preservation.

CHOICE

Very Fine+

 

Mkt

Grade:

XF-40

 $225  

Reverse

    TN  $ 10   Bank of Chattanooga

         G-98

 

 

 

 

 

          1859

 

 

 

 

 

 

 

  "Memphis & Ohio"

     

Serial # 771. Dated September 1, 1859. Incredibly detailed central vignette of the locomotive "Memphis & Ohio". "10" on dies surrounded by black and red, top left and top right. Red oval to lower right "Redeemable At the Bank of Memphis. Large red "10" mid bottom. George Washington and ornate red design upon back. A gorgeous example of the work of the American Bank Note Company and the first one of these I have seen in a few years. No examples of this issue, or any other from the Bank of Chattanooga are known to exist above the grade of true fine. If a collector is waiting upon an example to appear in the grade of Extremely Fine or Almost Uncirculated as notes from some other banks do, you will be waiting a long time. In 45 years, I have never seen one and the note you see offered here is far above what is normally seen; on the very rare occasion an example is located. Roughly 4 years ago, I had the privilege of offering each (4) different "Train" examples of the Bank of Chattanooga $10 notes such as this one. I gladly paid a good deal more for this note than the last examples listed here sold for. An event that is not the least bit uncommon when it comes to notes such as this one. These notes circulated heavily and are most always encountered tattered, torn, missing pieces, soiled and nearly non collectible. To locate an example as nice as this one is indeed a scarce occurrence. Cut from a PMG Very Fine 20 holder when I acquired it. The label remains in the Mylar holder with the note and will be included if anyone desires it. The only comment upon the holder was "Rust". The note does not bear any "Rust", although does possess a few tiny area of foxing. Relative to note this scarce; which is most often found in downright miserable condition, the small amount of foxing matters little, if any. In fact, this is one of the best of the "Train" Bank of Chattanooga $10 notes I have handled in 45 years. Unusually clean, bright bearing superb trim and outstanding eye appeal. I am seeing the opportunity to acquire this issue fading away, as I have with many other different issues in years gone by.

Choice Fine

 

 

 

MKT

GRADE:

VERY FINE 20

 $495  

Reverse
Pic 2

   TN  $ 20   Bank of Chattanooga

         G-108

          1860

 

PMG CHOICE FINE

          15

  "Closed Pinhole"

 

 

     Chattanooga

Serial # 1867. Dated Oct 1, 1860. Central vignette of riverboat/paddle wheeler. Young lady to lower right and harbor scene to far left. Red "BANK OF CHATTANOOGA and "20" on red die upon reverse. An incredibly attractive note; especially for the grade. Printed by the American Bank Note Company of New York and it shows. Bank of Chattanooga notes are most often found in terrible condition, tattered, torn and in pieces. There exist a small group of tiny pinholes at the right side of the Steam paddle wheeler and above that side of the ship as well. While difficult to see; they are present and need to be called out. Interestingly; PMG makes no mention of them, although does have an annotation on the back "Closed Pinhole". Not too sure why someone would "Close" one pinhole and leave the rest. One must also remember that notes upon this bank are excessively rare in grades above fine to very fine. While present, the pinholes are not distracting with regard to this excessively rare piece. This bank had an immaculate reputation; thus it's notes circulated widely. The $20 issue is very seldom seen and this example is among the best I've encountered. PMG has "NET" graded this note Fine 15 due to the one closed pinhole. It is far and way better than any "Fine" Bank of Chattanooga note you will see. While none are known to exist; one can only imagine what an extremely fine or true very fine would look like. Bright bold, legible signatures and date. As clean as a pin and trimmed superbly. A true work of art. One has to remember that notes on this Bank are simply not found in grades above this. A very scarce note.

PMG

CHOICE

FINE 15

"Closed

Pinhole"

 $595  

Reverse
Pic 2

   TN  $  20   Bank of Chattanooga

         G-108

          1860

        NICE NOTE

 

    Chattanooga

Serial # 1741. Dated October 1, 1860. Another marvelous obsolete bank note produced by the American Bank Note Company of New York. Central vignette of Steam paddle wheeler. Superb color, front and back. As the Bank of Chattanooga was a very reputable Bank, their notes circulated heavily; consequently, these notes are simply unknown in grades above the example here offered. When found; they are plagued with stains, tears, holes, margin tears, etc.. The example here offered has not one single pinhole and is totally problem free. Nice, even margins with no fraying and razor sharp corners. Crispness and body of an XF/AU note. In most instances, the Bank title and "20" design upon the back is completely worn away and unreadable. It is most difficult to convey just how nice this note is for a Bank of Chattanooga issue. Superb eye appeal and as nice as they come.

CHOICE

 FINE++

 

Mkt

Grade

VF-30

 $525  

Reverse
Pic 2

     TN  $100   Bank of Chattanooga

         G-115                     

     TN 10 G-60

  Mislabeled as

     TN 10 G-10a

          1857

 

 

   Excessively Rare

 

 

 

 Blue Bank of Memphis

         Stamp

 

 

 

 

 

 

 

 PCGS Very Fine 25

Serial # 87. Dated March 1, 1857. Red, orange geometric lathe work with "100" in white. Liberty seated with shield to lower left. Portrait of a young lady in oval to lower right. Plain back. Extremely rare. Very distinct and legible, blue "Redeemable Bank of Memphis" stamp. The PCGS label on this note states that it is a Haxby TN 10 G-10a. This is incorrect. The G-10a is a pre-Civil War utilized note and lacks the blue, Redeemable Bank Of Memphis stamp. The stamp is important and tells us that the note was utilized during the Civil War. As Grant, Sherman and several other Union forces commenced the siege of Chattanooga in late 1863; the Bank of Chattanooga ceased operations there and transferred it's assets to the Bank of Memphis, where it continued to do business. While the notes retained the same design and older notes (such as this one) were not reissued, the blue stamp you see upon this and some other Bank of Chattanooga notes indicates the note was shipped to far away Memphis and utilized there and throughout the State. I have handled two notes of this design in the last 40 years, including this one. The other Bank of Chattanooga $100 note I handled some 20 years ago, was a Haxby TN 10-G-10a or Garland 114; lacking the "Bank of Memphis" stamp. Paul Garland; in his 34 year old work on Tennessee obsoletes which was published in 1984, estimated that 16-20 of these notes existed in any grade. I have always thought that to be optimistic; as these just aren't seen. Published in 2016, Volume 7 of David Bowers series of books relative to obsolete bank notes; some 33 years later, estimates that 9-16 are known. Garland's estimate has not withstood the test of time and I am not the least bit surprised. As we all know, estimates tend to climb over the years; not decline. We are referencing a time period of nearly three and one half decades. Both estimates of surviving notes may be optimistic. Irregardless, an incredibly rare note and as choice, problem free G-115 one could hope to acquire. Simply superb color, inking and eye appeal. To locate an example of this issue with no problems of any kind is simply amazing. 10-15 times more rare than the fabled CSA "Indian Princess". I could go on a great deal more about this wonderful piece, however; will let the note speak for itself. An "opportunity" note if there ever was one.

PCGS VERY

  FINE 25

   SOLD

 

Reverse
Pic 2

    TN  $100   Bank of Chattanooga

         G-116

          1859

 

 

 

 

  VERY TOUGH

       NOTE      

 

    Chattanooga

Serial # 417. Dated September 1, 1859. Central vignette of Battle of New Orleans. Portrait of Hugh Lawson White in oval to left. Red, "Redeemable at the Bank of Memphis" on die to lower right. Incredibly vivid red back; consisting of Bank Title; Washington, Franklin and Bacchus (2). A classic example of why the American Bank Note Company was the premier printer and engraver of the era. Any Bank of Chattanooga note is rare above the grade of Fine. In fact, this issue in not known above the grade of very fine. As larger denomination notes were "thumbed" from time to time, it is not unusual to observe a somewhat darker area to the right. Next to impossible to locate problem free; such as this example. Nice, even wear and no problems. This example possesses the crispness and body of an AU note. The best reverse inking and printing I have seen on any $100 Bank of Chattanooga note. The back printing is most often encountered faded and unreadable. What a sight this issue must have been when first issued and new. To date, we can only imagine, as stated previously the highest grade known is a single low end VF. A gorgeous and very scarce note.

CHOICE

   FINE

 

 

 

Mkt

Grade:

VF-30

 $995  

Reverse

   TN  $ 10

Citizens Bank

Nashville & Memp.

 

Knoxville Branch        

    G-449                  

    1853 R-13         

Serial # 3900. Another elusive note payable at the Knoxville branch of this bank. Incredibly clean, bright and clear with superb eye appeal. One does not have the opportunity to acquire a problem free example of this note very often; perhaps once every 20 years or so. Central vignette of the Battle of New Orleans and a portrait of Andrew Jackson to the lower left. A couple of non distracting pinholes are noted for accuracies sake along with an insignificant edge ding. You could ask me to locate this note for you; no matter what the cost, and I could not likely never find another. Quality plus rarity.  FINE  $450  

Reverse

    TN  $ 10

     The City Bank

    

    150-G6a

       G-934

  Extremely Rare

 

    Nashville

 

 

   PCGS Extremely

      Fine 40 PPQ

No serial #. Central vignette of Hunters starting fire with deer laid across horse. Oval of Dyer Pearl to right and that of E.G. Pearl to left. Breathtaking, blast red overprint of Bank title, "TEN" and behind "10" on die. Plain back. Garland rates this note as an R-13; five to ten believed to exist in any grade. While Garlands work is from 1983, this is one rarity rating that has withstood the test of time. In fact; modern day experts estimate the number to be lower, perhaps four to six. Whatever the case may be, the note is excessively rare. Of those notes known, the example here offered surely must be the finest, if not one of the finest extant. The one dollar denomination notes from this bank are seen issued on occasion; although are most always found no better than fair to very good. Loads of original embossing literally "jump out" at one when viewing this piece in person. Dead, solid perfect trim and eye appeal beyond description. Rarely do we see the "PPQ" (Premium Paper Quality) moniker added to any obsolete bank note. Were this note a Federal issue of equal rarity, we would see a price in excess of $20,000 placed upon it. Unparalleled provenance and museum quality. A great rarity and a wonderful addition to any collection, no matter how advanced.

PCGS

Extremely

Fine 40

PPQ

 

Premium

Paper

Quality

 $995  

Reverse

   TN  $ 10

Commercial Bank of

     Tennessee

      G-601

   Memphis

 

 PCGS Extremely

     Fine 45

     

 

 

    Bright Red

 

    January 1, 1863

Serial # 1832. Dated January 1, 1863. Central vignette of large, bald eagle. Two young women in ovals, lower left and right. Incredibly detailed geometric lathe work in red "Commercial Bank of Tenn Memphis" upon entire front, exclusive of vignettes. Plain back. Infrequently found as a remainder throughout the years and very rarely found issued. A few groups of three or four consecutively numbered notes have surfaced in the last 40-50 years, although these have long been absorbed. Never common or easily found. An incredible work of art and a product of the National Bank Note Company. This example is the highest grade piece I have encountered and only two very, very faint "bends" or light vertical folds are noted. Both are extremely hard to see. A true Tennessee rarity which is very rarely seen; much less at this lofty grade level. No problems whatsoever and a note which would please the most discriminating obsolete collector. Simply breathtaking and a note which the scan cannot come close to doing justice to. A true work of art coupled with solid rarity. Issued in Memphis during the Civil War. Very likely the finest known.

PCGS

Extremely

Fine 45

 $895  

Reverse
Pic 2

   TN  $  5

Commercial Bank of

     Tennessee

      G-599

   Memphis

 

 

 

 

 

     Bright Red

 

 

 

 

 

      CSA T-3

Train Station Vignette

 

 

 

 

 

 

 

 

   October 1, 1860

Serial # 1585. Dated October 1, 1860. Central vignette of locomotive pulling into station; the exact same vignette as that used by the National Bank Note Company upon the CSA Montgomery T-3. "V"on die to upper left; "5" on die to upper right. Portrait of young women at lower left and right. Incredibly detailed geometric lathe work in red "Commercial Bank of Tenn. Memphis" upon entire front. Fully and correctly signed and issued. Plain back. When seen, encountered most often in remainder form than fully issued and one of the most beautiful and highly sought after obsolete notes extant. The $10 issue upon this bank is encountered with more frequency than the $5 note due to the recent discovery of around eleven $10 pieces. Signed by J. W. Page, Jr. for Cashier to the lower left and W. M. Folwell as President to the lower right. Extremely scarce fully issued and an obsolete note that I simply cannot keep in stock, upon the rare occasion I am lucky enough to locate an example. Incredible eye appeal; breathtaking color and totally problem free. Rated an R-13 by Garland in 1983 or 5 to 10 examples known in any grade. The same scenario holds true today as it did several decades ago. While a given note may have carried a "book" price at a much lower level than prices encountered at trade shows; an example could never be acquired for the "Book" price. If a collector (or dealer) wanted an example; it was required that one pay more than "book". Time, rarity and quality have taken care of this situation each and every time I have had the occasion to deal with it. This is why I very seldom concern myself with "Book" prices when buying scarce, quality notes. The rare opportunity to acquire the note is far more important to me than what the note's price lists for in a book. Subsequent works have estimated the number of known examples somewhat higher; although I have certainly been unable to locate this issue with any increased frequency than I did 35 years ago. Simply a beautiful and highly desirable obsolete bank note and one which the opportunity to acquire very seldom arises.

CHOICE

FINE+

 

 

MKT

GRADE:

VF 25

 $1175

 

 

Reverse
Pic 2

  TN  $ 20

  Bank of East

   Tennessee    

      55-G104a                          G-357                                       

 

       Jonesboro                  

 

 

      Jan 1, 1855         

Serial # 2853. Dated January 1, 1855. "TWENTY" and "20" in die; center. Vignette of Shakespeare to left and vignette of Bacchus to right. Red, ornate "20" with bank title on back. In reality, a higher denomination for this bank. The parent bank was located in Knoxville with branches in Jonesboro and Chattanooga. Dr. J.G.M. Ramsey, the Confederate depositary agent in Knoxville, Tn was also closely affiliated with this bank. The parent bank opened it's doors in 1850 and closed in 1858. The Jonesboro (TN's oldest city) branch opened in 1854. East Tennessee was not conducive to the production of cotton due to it's rolling and mountainous terrain. Consequently; large denomination notes which were necessitated by the vast sums generated by the production of cotton and cotton trading in other regions simply were not needed. The primary product produced in this region was tobacco and moonshine. To this day, the moonshine is still of high caliber ....I hear! Thus, this bank was more of a "people's" bank and notes most commonly seen are in the denomination of $10 or less. Most were heavily used as well. Locating any Bank of East Tennessee note above the grade of true fine is definitely the exception to the rule. Most frequently encountered with soiling, tears, stains and other major problems. Please keep in mind that the vast majority of notes seen from the Bank of East Tennessee will not be remotely close to the quality you see listed here. Many, many years ago; the Jonesboro branch notes of the Bank of East Tennessee were the very first obsolete bank notes I collected. The proximity of Jonesboro to my home stimulated my interest and off I went. Locating problem free notes was difficult 40+ years ago and is no different today; although due to the internet, we do see an above average example from time to time. Nonetheless, the examples you see here are those I collected some 40 years ago. A small "furl", wherein the paper is rolled inward appears at the middle, bottom. It could easily be straightened. The note here offered is far and away above that usually encountered. In most instances, the red/orange overprint on the back is nearly unreadable. $20 notes upon the Bank of East TN are tough, as nearly all are below this sum. As crisp and fresh as an AU or better note. A choice example from this "sneaky" tough bank. R-8 (see G-352 below).

F+/VF

 

 

MKT Grade:

VF-30

 $170  

Reverse

   TN  $  20

  Bank of East

   Tennessee    

      55-G104a                          G-357     

 

 PCGS Very Fine 25

 

     Jonesboro

 January 1, 1855

 

  X- Eric P. Newman

Serial # 2819. Dated January 1, 1855. "TWENTY" and "20" in die; center. Vignette of Shakespeare to left and vignette of Bacchus to right. Red, ornate "20" with bank title on back. As above; although from the famous Eric P. Newman collection formed many years ago. As previously sated with regard to the issues from the Bank of East Tennessee; these notes circulated heavily. The bank possessed an excellent reputation from the mountains of far East Tennessee which bordered North Carolina, to the city of Chattanooga, on the Georgia border. 163 years ago, a bank's reputation determined if the note would be accepted in commerce. Believe me, Bank of East TN notes were readily accepted. Simply a superb bank to collect, as most all issues remain very affordable today.

PCGS Very   

   Fine 25              

 

My Grade:

Fine+

 $185  

Reverse

  TN  $ 10

Bank of East TN

     G-354

 Two digit s/n                     Jonesboro                October 1, 1854

Serial # 49. Printed date of October 1, 1854. Central vignette of sailor and Ceres. George Washington to lower, mid right. Plain back. Clean, bright and totally problem free. Extremely tough to locate this nice.

CHOICE

  FINE

MKT

Grade:

VF-25

 $150  

Reverse

   TN  $ 5

  Bank of East

   Tennessee

     G-352

    Jonesboro

    October 1, 1854

Serial # 1319. Dated October 1, 1854. Roman Senator seated in center. Portrait of Henry Clay to right. Plain back. Again, far and away better than notes usually encountered from this bank. Two very tiny pinholes are noted for accuracies sake at Clay's portrait, although one must search for them dutifully. Bright and amazingly clean. One old mount is noted at the far right back. While easy enough to remove, I will leave that to someone else. A most interesting and eye catching design. An R-8 in Garland's Tennessee reference (31-40) estimated to survive. Garland's rarity ratings were compiled in 1983. Many have not withstood the test of time; however, this example has.

  FINE

 

Mkt

Grade:

VF-20

Apparent

(mount)

 $125  

Reverse

   TN  $ 5

Bank of East TN.

     Jonesboro                                     

   G-352

      1854

Serial # 918. A very pleasing example of this East Tennessee issue. Emanating from Jonesboro; Tennessee's oldest town. This bank's parent bank was at Knoxville; with branches at Chattanooga and Jonesboro. The signatures are clear and legible and there are no pinholes nor any problems frequently encountered at this grade. A corner fold is quite evident at the lower right reverse. All in all, a very solid note from this gorgeous East Tennessee location.  FINE+  $160  

Reverse

   TN  $ 3

  Bank of East

   Tennessee

     G-349

 

    Jonesboro

 

January 1, 1855

Serial # 1015. Dated January 1, 1855. State seal in center. "THREE" & "3" in medallions, left and right. Ornate "THREE DOLLARS" and "3" on back. Lower denomination notes were in great demand in the 1850's; as this sum constituted a good sum of money and was sorely needed in day to day commerce. Amazingly well inked with very sharp detail and contrast. Superb trim and exceptionally clean. Locating a $3 note upon the Bank of East TN in this lofty state of preservation is no easy feat. Simply a gorgeous odd denomination note. These examples can be found; although not this well preserved. The three dollar notes were the only"odd" denomination notes emitted from this bank. Former John J. Ford via the New Netherlands Coin Co-1954.  VF

 

MKT

Grade:

VF 35

 $170  

Reverse

   TN  $   2

  Bank of East

   Tennessee

     G-347

 

    Jonesboro

January 1, 1855

Serial # 1802. Dated January 1, 1855. Bank title in center. Portrait of Dolly Madison to left in flowery "2" die. Bonny Kate Sevier to right; same die. Ornate, red "TWO" design on back. A very attractive, lower denomination note. As with most obsolete bank notes, the lower denomination notes tend to be located in less than desirable condition; as they circulated more heavily. The example offered here is a pleasing exception to that rule. Not one pinhole or problem. A speck of dirt or the like at the middle back is just that; and is nothing else.  Exceptional clarity and very well inked. A well above average $2 note from this gorgeous East Tennessee location.

Choice

  Fine

 

Mkt

Grade:

VF-25

 $150  

Reverse

   TN  $  1

  Bank of East

   Tennessee

     G-344

 

    Jonesboro

 

 

    May 1, 1854

Serial # 2867. Dated May 1, 1854. Central vignette of Train with buildings in background. Unknown female standing beside ornate "1" to left. Portrait of Hugh Lawson White in oval to lower right. Plain back. This bank issued two different one dollar notes and this one is by far the most difficult and toughest of the two. Old mounting remnants may be seen on the back. They certainly did not impair the pride and enjoyment I had in this note while in my collection. It is hard to convey just how tough it is to locate a $1 note from this bank which is not tattered, torn, stained, split, holed or the like. While this note has a few edge bumps; it is far and away above what one will most often see; provided one can be found. It took me many years to locate an example this nice. The note is amazingly clean, bright and vivid. Bold, clear signatures and a very, very tough note.

FINE

 

Mkt

Grade:

VF 20

Apparent

(mounting)

 $155  

Reverse

  TN  $ 10

Exchange Bank of

   Tennessee

  Murfreesboro

      G-791

       1856

Serial # 7081. This Murfreesboro Bank was chartered in 1852 with a capital of $100,000. The bank failed sometime in 1859. A superb example of this most desirable note. Central vignette of Gentleman buying cattle and sheep. Woman feeding chickens to lower right. Red, ornate reverse. Great trim, superb clarity and contrast with resulting wonderful eye appeal. Murfreesboro notes are extremely popular among collectors. Just about as nice as you can find this piece.   VF  $185

 

 

Reverse

  TN  $ 5

Exchange Bank of

     Tennessee

  Murfreesboro

       G-789

        1856

Serial # 1850. A gorgeous note with wild horses depicted in the central vignette. Cattle coming to water at the lower left. Red, ornate reverse. Jumbo borders all the way around. Very well inked, with superb clarity. Signatures, date and serial number are very bold. One tiny pinhole exists in the middle of the note. Otherwise; that's it. An incredible obsolete and a true miracle of survival. They come no nicer than this for the grade.   FINE  $175  

Reverse

   TN  $100

      Farmers &

   Merchants Bank

  

      G-660

 

    1854/Memphis

                                        

Serial # 875. Printed upon tan, ruled paper, this note emanates from the first bank chartered in Memphis. Central portrait of George Washington with an eagle above, Liberty to the right and Ceres to his left. Steamboat to far right and cherub, dog and safe to far left. Dated "Feby" 20, 1854. Plain back. Bold, vivid "T.T.C. & Co." watermark. While examples of this note seemed to be somewhat available a mere two to three years ago; such is not the case today. Fully framed, great eye appeal and no problems whatsoever. The days of simply getting online and locating an immaculate example of this issue are gone. A choice note which remains very affordable.

GEM

  CU

 $450  

Reverse

   TN   $50

      Farmers &

   Merchants Bank

  

      G-658

 

    1854/Memphis

Serial # 460. Dated "Feby" 20, 1854. Central vignette of Justice seated with scales to her left. Figure thought to represent Justice standing to the left and right. Plain back. Printed upon paper watermarked "T.C.C. & Co.". Fully framed and free of pinholes, stains, chinks or the like. A pristine example of the issue and one which was available in the "ancient" days of the 80's and 90's. High grade obsoletes such as this simply cannot be located in this day and time and are rapidly becoming a thing of the past. Crackling crisp, fresh and totally problem free. A gorgeous note and quite hard to believe it is 161 years old.

CHOICE

    CU

 $350  

Reverse

    TN  $ 10

      Farmers &

   Merchants Bank

  

      G-653

 

  1854/Memphis

 

 

 

 

 

PCGS Choice New 63

 

 

 

 

 

 Choice Note    R-13

Serial # 577. Printed date of "1st Aug. 1854". Superb central vignette of large steamboat. "10" on dies, upper right and left. Young woman in oval to right. Liberty seated with eagle to lower left. Red "TEN" overprint. Plain back. A striking obsolete bank note if there ever was one. Rated R-13 (5-10 believed to survive in all grades) in Paul Garland's 1983 work on Tennessee obsolete bank notes. While some of Garland's rarity estimates have not withstood the test of time with the location of additional bank notes, this particular note has. As clean, bright and fresh as they come. It is most unusual to observe any issued obsolete bank note housed in a choice new holder, much less a rare Tennessee note. The note here offered most definitely represents the first and only Farmers & Merchants Bank $10 note I have ever observed so graded. By far, most of my years dealing in CSA and obsolete bank notes were prior to the grading services arrival upon the scene. Consequently; I fail to understand why this note grades "only" a Choice New 63. I am told that at this level, the grading services look to the width and equality of selvage around the note. However; I have observed notes which were assigned a "New 63" grade which were trimmed into the margin or had no margin at all upon one side. Obviously, there can exist no folds or the like upon any "60" or above grade. The note bears excellent trim all the way around and I simply do not know how one could ever locate a more pristine example. Irregardless, based upon over 40 years in this business, it is my humble opinion that it is totally irrelevant if this note grades New 63 or 67. It is indeed an incredible miracle of survival which bears amazing eye appeal and a breathtaking piece of American history from a time when cotton truly was "king".

PCGS CHOICE

 NEW 63

 $450  

Reverse
Pic 2

   TN  $  5

      Farmers &

   Merchants Bank

  

      G-641

 

    1854/Memphis

 

  5 $1 GOLD COINS

Serial # 2842. Dated March 1, 1854. Most unusual central vignette of five gold dollar coins with three cherubs, a hunter and an Indian Princess above and surrounding them. Woman in oval to right. Red "FIVE" overprint. "Banking House" written in brown ink. Plain back. While by no means a rare note, I am reminded of the many Confederate issues which are "common" although impossible to find without problems. This is such a note. Printed upon very thin paper, this note is most always found with pinholes, stained, frayed, trimmed into the margin or with some sort of problem. This example is as clean, bright and fresh as one could ever hope for and much, much tougher at this "upper notch" than one would think. The scan presents a classic example of high resolution and detail providing the appearance of something that is not there. What appears to be a pinhole at the upper left back is not. It is a tiny contemporary ink spot which is readily discernible as such when actually looking at the note and not the least bit distracting. One could look through 10,000 of these and not locate an example equal to this piece. Beautiful trim and simply amazing. I have numerous examples of this very note. However; none can compare to this one under extremely close scrutiny, as there always seems to be some sort of problem, somewhere. Not so here.

CHOICE

   CU

 $265  

Reverse
Pic 2

   TN  $ 10

Lawrenceburg Bank

   of Tennessee

       G-504?

  Lawrenceburg

  January, 1859

   FULLY ISSUED

Serial # 483. Fully issued. The Lawrenceburg Bank was never a large bank; had no branches and the number of notes issued was small when compared to most banks of the day. While not the prettiest note in existence; if properly issued and bearing correct signatures, this is how they are usually found....if at all. While attractive, most are remainders or falsely filled in. Apparent mounting and some repair work at the upper right back. Signed by R.H. Rose to the right as President and T.C. Ramsey to the left as Cashier. Scarce issued.

VG/F

Repaired

 $165  

Reverse

    TN  $ 10

Lawrenceburg Bank

   of Tennessee

      G-504

 

 

PCGS Choice About

 New 58 Apparent

 

 

 

 

 

 

 

  BLAST ORANGE

Serial # 100; although falsely filled in. PCGS grades this note "Apparent" due to the fact that the note is in fact a remainder upon which incorrect signatures, date and serial number were falsely filled in at some point in time. There exist no problems with the note itself to warrant an Apparent grade, other than the above. Incredible color and eye appeal. It is interesting to speculate as to when the note may have been incorrectly filled in. The signatures, date and serial number were most likely not placed upon the note during the time the note actually circulated in the late 1850's to early 1860; but rather during the 1930's, 40's or 50's in an attempt to make the note more "saleable". No one in their right mind would cut up a sheet of these in this day and time, should such a sheet be located. During the time these false signatures, etc.. were placed upon the note, it's cost may have been 5 to 10 cents correctly or incorrectly filled in. It is also quite easy to forget that reference material was not remotely as available to collectors in that day and age as it is now. Irregardless; a spectacular example of the issue bearing color and subsequent eye appeal beyond description and an example which may be acquired for a good deal less than a plain, blank remainder of equal quality. I can not locate a fold on this note in order to equate to the AU 58 grade. A beauty and most interesting.

PCGS Choice About

New 58

 

Apparent:

Falsely Filled In.

 $275  

Reverse

   TN  $ 10

Lawrenceburg Bank

   of Tennessee

      G-504

 

 

  OPERA SALOON

     MEMPHIS

 

 

 "Ladies Oyster  

  Parlor Upstairs"

 

   

 

 

 Excessively Rare

No serial #; remainder. Central vignette of Indian Princess seated by shield. Pocahontas in small oval to right and Lucy Holcome Pickens in oval to left. Plain back. While this note is not in the best shape one could hope for; it is among the most rare you will ever see. All Saloon items are highly sought after; even medal tokens made well after the Civil War. A saloon ad upon an obsolete or CSA note is practically unheard of....especailly a Southern saloon. In over 40 years, this is only the second Southern saloon ad note I have ever seen. The first and only other I have ever seen was upon the back of a CSA 1864 $10 note and that saloon was located in Charleston, SC.. I sold that note 20 years ago for nearly $800. Simply incredibly rare. Added to the normal attrition rate for paper currency of this era, one can think of a multitude of reasons why a saloon note would not survive. Wives and drunken patrons come to mind. In addition, a multitude of possible causes of destruction created by the very nature of the business advertised. This Tennessee saloon was located in Memphis and one can read for themselves the contents of the ad. I've been to the corner of Main and Beale Street in Memphis many times and you can bet that the "Opera Saloon" was not there when I visited. Offering the Best Wines, Liquors and Cigars with the Ladies Oyster Parlor Open All Night ! We see that this "location" was also the "Headquarters" of the P.A.T. Club". I sincerely doubt that these initials stand for "Point After Touchdown"; however, am unsure what the initials do mean. This ad was likely placed upon the note in the 1870's to 1880's. Lawrenceburg is in West Tennessee and not that far from Memphis; likely enabling the saloon owner to get his hands upon a few remainders from this bank. This is not some note that I paid $10 for and offer here in an attempt to make a large profit. It is extremely rare and I paid within 90% of the price listed. I know rare when I see it and was thrilled to acquire this piece. While many would concern themselves with condition, such is not a problem when it comes to a Southern Saloon ad note. There simply aren't any. One could offer me a million dollars for such a note and I could not find another. A true rarity which is many multiples more rare than any CSA note. Further, most likely the type of "establishment" that one would want to keep his back against the wall while patronizing this Mississippi River port bar on a Friday night! A wonderful piece of Americana. Fair/good  $495  

Reverse

    TN  $  5

Lawrenceburg Bank

   of Tennessee

      G-502

 

 

 

 

PCGS Choice About

        New 55

 

 

 

 

 

 Lawrenceburg, 1859

No serial number. Remainder, as nearly all of these are. Likely printed for use in 1857-59. Central vignette of Commerce seated holding vase. "5" on die to her right and left. Vulcan standing holding large hammer to far right. "FIVE" above and below him. Ceres standing beside wheat holding sickle to left. "FIVE" above and below her. Liberty in headdress at bottom center, just above "American Bank Note Company" imprint. Bright, vivid red Bank title, "V" and "FIVE" overprint. Plain back. A busy work of art produced by the American Bank Note Company if there ever was one. Simply gorgeous. 99% of all Lawrenceburg Bank of Tennessee notes are remainders and no issued notes are known to have survived at any level close to this grade. In fact, I cannot say that I have seen the $5 note issued in any grade. Much tougher than the $10 note; even as a remainder. The bank closed in 1859 after being sold to one W. H. Slover & Co. of Memphis; becoming part of the Gayoso Savings Institution. Correctly issued notes upon this bank have always been extremely rare and this fact is no "recent" phenomena. A true work of art and not difficult to quickly determine that this beautiful note is the work of the American Bank Note Company. A wonderful example of the $5 issue bearing immaculate eye appeal.

PCGS CHOICE

ABOUT NEW 55

 $300  

Reverse

   TN  $  1

Lawrenceburg Bank

   of Tennessee

       G-498

     January, 1859

 

  Lawrenceburg

Red Stamp: "Gypso Savings Institution...CSA Notes"

No serial number. Remainder; as most all Lawrenceburg Bank notes are. Central vignette of family and hay harvesting scene. Liberty in Indian headdress to right. Goddess of art to left. Plain back. Simply gorgeous engraving work by Toppan & Carpenter of Philadelphia and NY. Snow while and flawless. In 1859, the Lawrenceburg Bank was sold to the Gypso Savings Institution of Memphis. The red stamp located upon the face so indicates; although it's text is somewhat puzzling. "Redeemed By The Gypso Savings Institution - Memphis - In Confederate Treasury Notes in Sums of Twenty Dollars". Further study is needed. Does this mean that the Lawrenceburg Bank was purchased in Confederate Notes or is this note redeemable in CSA notes? Another reason why these wonderful objects of art are so appealing. Printed upon very thin paper and not one single problem. Fully framed with superb clarity and inking. The day is; or will soon be upon us when such quality and scarcity is no longer available.

CHOICE

   CU

 $495  

Reverse

   TN  $  5

  Memphis Savings

       Institution

     G-729

    1852

 

     Memphis

 

 

  Serial # 68!

    

Serial # 68. Dated February 2, 1852. Liberty observing cherubs paint to left. Pallas providing water to eagle from goblet to right. Plain back. An immaculate example of this West Tennessee issue. Bright, fresh and as clean as a pin. Vivid, legible signatures and a low two digit serial number. I cannot over emphasize the fact that the days of locating high end, fully issued, problem free obsoletes are diminishing every day. Notes that we once thought would always be available are simply "no more". This note is a perfect example of what I attempt to convey. The collecting community has realized that obsoletes represent a much bigger "bang for the buck" than do Federal notes and does it ever show. Were this note a Federal note, in this pristine condition and of equal rarity; it would bring 20 times it's current cost. The collecting of obsolete bank notes represents pure American history from an era long since past. This is not to say that collecting Federal notes is the wrong thing to do; as one should collect what they enjoy. I simply state that the cost vs. rarity ratio has been realized by many who did not formerly collect obsoletes. Irregardless, a beautiful note and flawless. Just as with collectors of Confederate Treasury notes, collectors of obsoletes will soon find themselves in a position of not being able to locate a Choice obsolete on a better bank. A beauty.

CHOICE

  CU

 $525  

Reverse

    TN  $  5

    Nashville Bank

 

    G-955 CT

 

 

 

      Nashville

 

 

 

 

 

 

  October 101812

 

 

 

 

 

  EXTREMELY RARE

  CONTEMPOARY

  COUNTERFEIT

Serial # 2054. Dated October 10, 1812. Contemporary counterfeit. Vignette of bale of cotton, beehive and plow to lower right. "5" to upper left and "FIVE" in oval at far right top. "FIVE" to left. Imprint of "W. Harrison, Sc., Philada" under cotton bale. Plain back. An extraordinarily historic piece from the State of Tennessee. Nashville Bank was the very first bank chartered in the state on November 26, 1807. In 1807, middle Tennessee was for the most part wilderness and largely unsettled. Even though chartered in 1807, the bank did not issue notes until a few years later. Five branch banks were also established and located at Rogersville, Gallatin, Murfreesboro, Shelbyville and Winchester and constitute some of the most rare and highly sought after Tennessee pieces extant today. The contemporary counterfeit here offered is extremely deceptive. All design elements are correct. The counterfeiters chose the correct signers to forge and have duplicated the signature of George M. Deadrick, President to the lower right and that of John Anderson, Cashier to the lower left. However, the signatures are not that of Deadrick or Anderson, which fact is quite apparent when comparing the two. This fact was obviously seen by someone during the time period, ass the word "Counterfeit" is written in brown ink across the face of the note. Printed upon period paper. Much more could be said about this incredible piece than space permits. The note itself is extremely well preserved. A contemporary ink spot is visible along with some slight aging; which would be expected for a piece which is at least 200 years old. An amazing glance into the early days of the development of banking in the south. While 200 years is not considered that old in the populous centers of New York and the Northeast; you may rest assured it is this far south and west; where concerns of Indian attacks remained very real within this remote region at the time this piece was printed.

VERY FINE+

 

 

 

 

 

 $875  

Reverse
Pic 2

    TN  $  5

    Bank of Nashville

       G-808

 

       185_

 

 

     Nashville

No serial #. Remainder, as most all of these are. Central vignette of Justice seated aside shield which bears a numerical "5". Farm family to lower left. Tennessee State seal to lower right. Plain back. Records upon this bank are scarce; although it is believed to have commenced business in 1853. The cashier, Wesley Wheless was a broker of various obsolete bank notes from Georgia and South Carolina and his brokers stamp may, on rare occasion, be located upon very few of these issues. Space does not permit here; however many mysteries surround this bank. No issued notes are known and unissued notes such as the note here offered are scarce. Garland indicates the bank closed it's doors in 1857. If the bank was in operation from 1853 to 1857, we would see issued examples upon this bank. We don't. A gorgeous note and as crisp as the day it was printed over 160 years ago. The type of note which shows up in this grade every few years. Loads of original embossing which are not evident in the scan. Two very, very light and hard to see vertical folds. The best I have encountered in several years.

CHOICE

    AU

 

Mkt

Grade:

AU 58

 $425  

Reverse

    TN  $ 10       

   The Ocoee Bank 

  

        G-212   

 

 

 

 

 PCGS Very Fine 25

 

 

 

  Superb Red Color           

Serial # 224. Partial blue ink date of July 1, 1860. Central vignette of Indian overlooking river. Unknown woman to left. Salve picking cotton to lower right. Bank title in red ink. Red "10" on die to upper right. Red "TEN" above woman to left. Red "10" on each side of horses overtop signatures. American Bank Note Company imprint below Cashier's signature to left. Plain back. The bank was chartered in 1854 with the parent bank located at Cleaveland and a branch at Knoxville. The note here offered is the style usually filled in at a branch bank; however, this example is filled out in blue ink "Cleavland"; the parent bank. The red overprint is extremely strong. Totally problem free and possessing superb eye appeal. In all seriousness, becoming near impossible to locate. I see nothing changing relative to availability in the future; other than becoming tougher to locate than it currently is. Corrected signed by W. A. Branner for Cashier to left and George M. Branner for President to lower right. Very high grade for this bank. A superb obsolete bearing impeccable provenance.

PCGS Very Fine

       25

 $425  

Reverse

   TN $100

Purdy's College Bank

 

       UNL

 

    18__

 

 

 

 

 

 

      Purdy, TN

No serial number. Likely date of printing between 1856 to 1859. Central vignette of locomotive rounding corner. Farmer feeding corn to hog at lower left. Portrait of young lady in oval to lower right. Plain back. Located near Shiloh in West Tennessee. College currency is collected by many obsolete enthusiasts. Issued in locations, north and south throughout the East during the period of 1845 to 1878 from various institutions. These "colleges" were primarily business colleges (with religion of various faiths most definitely a major part of the curriculum) which were designed to give students training in business skills. Such training involved the handling of money, thus many of these early "College's" printed their own currency for use in this training. Most often founded by the most wealthy or influential individuals in the area; in this case, William Purdy. Commencing in 1840 and nearly destroyed by the Battle of Shiloh. An attempt was made by the Methodist church to re-establish the college after the Civil War, with some success. The $100 denomination is a very tough one; especially in the grade here offered. Superb trim with no problems. Extremely difficult to locate this in this lofty state of preservation. A scarce opportunity for the college currency collector or any obsolete enthusiast.

Choice

Uncirculated

 $350  

Reverse
Pic 2

    TN  $ 50

Purdy's College Bank

 

       UNL

 

    18__

 

 

 

      Purdy, TN

No serial number. Likely date of printing between 1856 to 1859. Central vignette of two wild horses. Liberty with shield to lower left. Commerce seated upon a bale of cotton to lower right. Dog's head at center bottom. Plain back. Bright, fresh and as crisp as the day it was printed. Signed by A. W. Burrows, as cashier. As stated above, Purdy was located in West Tennessee very close to Shiloh, TN. The college was for the most part destroyed by that horrific battle. No imprint, although this looks very much like the work of Hoyer & Ludwig. Superb trim and wonderful eye appeal. Although not evident in the scan, with magnification there exist two very tiny corner bumps at the top and bottom right. No body folds,  pinholes, stains or other problems. A beautiful example of this most uncommon piece.

CHOICE

ALMOST

UNCIRCULATED+

 $325  

Reverse

    TN  $ 2

Purdy's College Bank

 

       UNL

 

    18__

 

 

 

      Purdy, TN

No serial number. Likely date of printing between 1856 to 1859. Central vignette of Ceres seated upon bales of cotton. Riverboat in background. Man carrying harvested corn to lower left. Portrait of young woman within oval to lower right. Interestingly, this denomination does have an imprint. "Middleton, Strobridge & Co. Cin" appears at the very bottom left corner of the note when viewed from the front. Some of these vignettes are very, very similar to those appearing upon notes issued by the Confederacy and this is an imprint I have not seen upon any other obsolete. Dead, solid perfect trim and as clean as a pin. No pinholes or other problems. A microscopic corner bump exists at the lower right corner from the back. It cannot be seen without magnification, although must be called out. An incredible example of this "State of Perfection" college currency. I certainly do not know where one could locate another.

Choice Almost

Uncirculated++

 $325  

Reverse

 CT/TN 10 Cents

  Bank of Tennessee

 

   G-848, T-TN-N2

 

 

 

 

    Contemporary                   Couterfeit 

 

 

 

 

 

    

   Full Upham Imprint     

No serial number (same as genuine issue). Dated December 1, 1861. Central vignette of Locomotive. Spanish one half reale to each side. Plain back. A faithful contemporary copy of this 1861 Tennessee "emergency" Civil War issue; especially for an Upham. The full imprint remains; not trimmed away as they most frequently were. "FAC-SIMILE REBEL SHINPLASTER-SOLD WHOLESALE AND RETAIL, BY S. C. UPHAM, 403 CHESNUT STREET, PHILADELPHIA." Adrian Sharp" imprinted just below the right "TEN CENTS". An exceptionally attractive contemporary counterfeit. Clean, bright and as crisp as if it were printed yesterday. While the note appears Choice Uncirculated, there are enough light bends or faint folds present requiring that grade to be lowered. Tough to locate with the full Upham imprint remaining; as these were trimmed off and the note then passed. A gorgeous example which one could write pages relative to the note itself and the myriad of problems Upham created for the South. Choice Very Fine+  $265  

Reverse

    TN  $ 1

Bank of Tennessee

        G-430

 

 

   Knoxville Branch

 

 

        1861

 

 

 

 

 SNOW WHITE

Unnumbered, as many of these small denomination Bank of Tennessee notes were. Printed date of December 1, 1861. Central vignette of farm implements and produce. Spanish twenty-real piece right and left. Printed by J. Manouvrier of New Orleans and CSA T-12 fame. As bright, crisp and appealing as this issue comes. When viewing the note with the naked eye, no folds are visible. However, the high resolution scan brings out a tiny, very, very faint fold at the upper right, back corner. Snow white and a truly gorgeous piece. Fully framed; lacking any problems whatsoever. Signed by J.G.M. Ramsey for President to the lower right. Ramsey was a medical doctor and also the Confederate Depositary agent at Knoxville. His signature is highly collectable due to the many roles he played in the Civil War. Unlike many small denomination notes from other states; the Bank of Tennessee small denomination pieces are seldom encountered in this grade. Tennessee did not print "State" notes, as did Florida, Georgia, South Carolina, Alabama, North Carolina, Mississippi, Arkansas, Virginia and Louisiana. Consequently, the Bank of Tennessee notes were the only small medium of exchange available at a time when all coinage was hoarded. Extremely difficult to locate an example this nice and downright scarce this well preserved.

CHOICE

 AU++

Near Gem

 SOLD  

Reverse

    TN  $ 1

Bank of Tennessee

        G-868

   Indian Spearing                 Buffalo

 

 

      May 1, 1861

 

 

     Nashville

Serial # 1901. Dated May 1, 1861. Central vignette of Indian riding bareback on horse spearing buffalo. Young man and young woman to lower left and right. Vivid red, ornate "1", "ONE" and "BANK OF TENNESSEE" reverse. A lovely note which is well above the grade normally encountered with this small denomination issue. Drawn on the parent bank at Nashville. These small denomination issues; very much needed in general commerce, saw extremely  heavy circulation and few survived this well preserved. Choice eye appeal. Thick bank note paper and completely lacking the normal problems encountered at this grade level. This issue simply did not survive above the grade of fine and most seen today bear unreadable backs, are limp, torn, soiled and very low grade. Not a single pinhole, lovely color and excellent body. Extremely tough this nice.

Fine

 

MKT

Grade:

 

VF-20

 $275

 

 

Reverse

   TN  $ 2

Savings Bank of

      Louisville

 

      G-973

     1838

 

      Nashville

Serial # 630. In existence in 1837 and 1838. All known are Otis Anolo & Co., Agent. Only $1 and $2 notes are known to exist. A magnificent example of this very early note. 99 of 100 notes upon this bank are total rags; being holed, torn, faded, stained, you name it. Locating such a note in Fine would be a major feat. By far the best Savings Bank of Louisville note I have ever seen in over 40 years plus in the business. In most instances, the signatures are unreadable. Fully engraved date of May 1, 1838. Central vignette of Justice standing by shield and Mercury to the left. The 1838 example has a printed back "Steel Plate To Prevent Forgery". That back is bright and vivid upon this example. The 1837 $2 note has a plain back. A choice example with no pinholes or problems. Superb inking and subsequent clarity and contrast. As good as they come and very likely one of the best notes extant upon this bank. Superb eye appeal adorns this R-13 note. A true TN rarity and of the highest quality.

 

CHOICE

  VF+

  $385  

Reverse

   TN  $ 20

   Union Bank of    

     Tennessee

       G-495

 Knoxville Branch

 

       1857

R-14(2-4 Known)

Serial # 1497. Listed in Paul Garlands "History of Tennessee Banks and Their Issues" as an R-14. This translates into 2 to 4 known. Garland was written in 1983 and I would imagine the note is not quite that rare. Nonetheless, it is very scarce and difficult to locate without problems. What appears to be a fold at the upper left reverse is actually a small sheet crimp or "pinch" in the paper which was present before the note was printed. No pinholes and just an immaculate example of this very scarce Tennessee piece. The note is Choice CU; although the price will be reduced to account for the sheet crimp which could give the appearance of a fold. It is not.

    CU

Sheet

Crimp.

Upper left corner.

 $395  

Reverse

  TN  $  5

    Bank of West            

     Tennessee            

     130-G6b               

       G-562    

 

 

  PCGS Fine 12

 

 

      Memphis

    Jan 1, 1861    

 

 

 

 

    NOT PUNCH     

    CANCELLED              

Serial # 2132. Dated January 1, 1861. Central vignette of five cherubs and five silver dollars. Sailor at Captan to lower left. Five allegorical figures seated and around large "5" to right. Intricate geometric blue design upon back. Believe it or not; the note presented here is considered high grade for any note from this bank. Nearly always found torn, tattered, soiled and nearly uncollectible. Ninety nine out of one hundred of Bank of West TN notes are punch cancelled. In fact; in over 4 decades in this business, I have observed less than 5 notes that were not punch cancelled. No problems whatsoever with excellent eye appeal. Notes upon this bank were unknown until a farmer in Ontario, Canada appeared at a convention in Ontario and sold a large group to Mr. Paul Garland; the author of  "The History of Early Tennessee Banks and Their Issues". Excellent detail and clarity....far above the assigned grade. Superb trim and signed by Ben May as Cashier to the left and Thomas J. Allen as President to the right. Two pinholes are mentioned for accuracies sake. I have observed other graded notes in VF-25-30 holders which are not as nice as this piece. Extremely scarce uncanceled and a very nice obsolete note from one of the most famous collections ever formed.

PCGS Fine 12     

 

 

My Grade:

Choice Fine

 $250  

Reverse

 

 SCRIP / TN

Small denomination scrip notes were used in both the North and South during the Civil War; with the predominant use in the South. During the War; all hard money (specie) consisting of silver, gold and copper coinage was hoarded. There were no small denomination notes available for general commerce in some areas; consequently, local merchants had their own printed. By 1863, many Southern states were printing small denomination notes, such as Alabama, North Carolina, Georgia, Florida and Mississippi. Tennessee did not print these notes. As Tennessee was the last to join the Confederacy and the first re-admitted to the Union; those scrip pieces which are found payable in Confederate notes are especially rare and desirable. All are scarce and most are extremely rare. You will find here the most comprehensive listing of Tennessee scrip notes available anywhere. At most, these notes have a known population of 5 or 6. Many are unique. Most often encountered tattered, in pieces or in parts; these issues are very, very rare let alone in decent grade. A wonderfully rich area to collect. Many of the towns you see listed here are now extinct. Paul Garland, author of the Tennessee reference with regard to TN bank notes, owned many of the notes listed below. Most TN Merchant scrip is held be the Museum of the Confederacy or the Smithsonian Institution. Many of these rare notes resided in the famous Herb and Martha Schingoethe collection. When sold at auction; after all was said and done, the Schingothe collection comprised 16 catalogs of obsolete bank notes which were dispersed over a period of a few years by R. M. Smythe; now Spink Smythe. These catalogs are highly sought after for reference purposes by current collectors.      


  TN  50 Cents

 Fayetteville

   UNL

Nov 5,1862

No serial #. R.A. McDonald. Lincoln County, Tenn.  Excessively rare. 2-4 known. Payable in CSA notes. X - Paul Garland. R-13.

 Solid     Fine  $850  

Reverse

  TN  $1

 Fayetteville

  UNL

Nov 5,1862

No serial #. R.A. McDonald. Lincoln County, Tenn.. Another extremely rare TN. piece.  2-4 known. R-14

Former Paul Garland, Sedman & Schingoethe

 VF+  $950  

Reverse

  TN  $1

 Sparta

  UNL

Nov 12, 1862

No serial #. James Cook. White County, Tenn. Former Paul Garland, Sedman & Schingoethe  No problems and incredibly rare. R-15 Unique.

 F+  $ 950  

Reverse

  TN 75 Cents   Carthage

  UNL

Dec 5, 1862

Serial # 111. H.A. Sanders. Smith County, Tenn.. Carthage; home of former vice president Al Gore. Excessively rare and simply a superb piece. There are only three known pieces of scrip from this location. 2 of this one and a single 10 cent piece. This example is far and away in the best condition of the three. 3 known total. R-14.

 FINE  $850  

Reverse

  TN   $1

  Columbia

     UNL

 March 6, 1863

No Serial #. J.F.L. Cochran. Maury County, Tenn.. An incredible piece. Totally original in all respects. Two known examples; of which this is by leaps and bounds the finest. This denomination is the only one known for J.F.L. Cochran. Former Garland, Sedman and Schingoethe. R-14. 2 known. VF/XF  $ 775  

Reverse

  TN 75 Cents   Sparta

  UNL

Aug 8, 1862

No Serial #. S. Clark, Corner Store. White County, Tenn..  Some minor restoration at tears; although extremely rare. R-15; unique.  VG+  $ 695  

Reverse

  TN $ 2

  Lebanon

     UNL

Oct 27, 1862

Serial # 21. T. Harrington. Wilson County, Tenn.. Simply a choice example of this great rarity which is totally problem free. Printed upon thick paper. Outstanding for a rare scrip piece. Excessively rare. Choice. R-15. Unique.

Choice

    VF

  $ 895  

Reverse

  TN   50 cents

  Livingston-Bigbyville crossed   out.

       UNL

 January 31, 1863

No serial #. Patterson & White. Bigbyville crossed out. Overton County, Tenn.. Payable in CSA $$$ and the only example known. Toned, but solid as a rock. An incredible miracle of survival; as are all of these small pieces of scrip. R-15. Unique.   FINE  $ 975  

Reverse

  TN  5 Cents

 Maryville

  UNL

March 20, 1864

No Serial #.  I. N. Hair & CO. Blount County, Tenn..

Exceedingly rare East Tennessee piece from this small town near Knoxville. Of the two pieces known; this one is without question the finest. The only other example known is tattered and torn. R-14. 2 known.

 F+  $ 895  

Reverse

  TN  $1

 Columbia

  UNL

Feb 2, 1863

No Serial #.  W. Wood.  Also stamped "W. Wood". Maury County, Tenn.. R-15; this being the only W. Wood $1 note in this form. As the note is unique, none could exist better than this example. Payable in CSA notes. X- Paul Garland. R-15. Unique.  CHOICE

      VF

 $ 995  

Reverse

  TN   50 cents

  Netherland

      UNL

  Jan. 1, 1863

Serial # 24. J.H. Breeding. Overton County, Tenn.. A true miracle of survival and perhaps the highlight of this offering of Tennessee scrip notes. Pristine condition for such a piece and payable in Confederate Dollars. The only known example...how can it get any more scarce than that? Former Garland, Sedman and Schingoethe. R-15 Unique.  CHOICE

    VF

 $1150  

Reverse

  TN  $1

 Newberry

  UNL

Jan  1863

No Serial #.  Signed by Jam. Sellers. Sequatchie County, Tenn.. Unknown to Garland. A superb piece payable in CSA notes.  Unique. R-15

 X - Claude Murphy ;  Schingoethe

 CHOICE

     VF

 $1100  

Reverse

  TN   25 cents

  Smithville

     UNL

  January, 1863.

Serial # 500. O.T. Hollis. DeKalb County, Tenn.. 2 known of this unbelievably rare piece. Cherry Valley crossed out with Smithville written in brown ink. The only other known example; serial # 481 is located at The Museum of the Confederacy; Richmond, VA and covered with ink splatter. Previously unique and R-15. This example makes the second known, thus R-14. In reality, the only example available to collectors; as the aforementioned example is forever impounded in the Museum of the Confederacy.  CHOICE

  FINE

 $1050  

Reverse

   TN    50 cents

War Creek/ Hancock Co.

     UNL

 June 1, 1862

Serial # 221. Wells & Fields. Located at the confluence of War Creek and the Clinch River in the rugged mountainous area of Eastern Tennessee. Wells & Fields were merchants in that location. As with most all of this scrip; it was printed due to the lack of any small denomination notes. All coinage was hoarded during the Civil War; thus there were no means to conduct smaller denomination transactions. Printed upon very thin paper which reminds one of rice paper. This is an extremely rare piece of Tennessee scrip and there are perhaps three or four known. A solid piece with very legible signatures and serial number. Incredibly; no tears, pinholes, stains or the like. A true miracle of survival. The odds of locating another are slim to none. Former Paul Garland; Sedman and Schingoethe collections.

  VF+  $775  

Reverse

  TN   25 cents

  Waverly

    UNL

March 27, 1863

Serial # 395. B. S. Bowen. Humphreys County, Tenn.. An extraordinarily rare pice of scrip from Houston county; the least populated County in Tennessee. Solid, with no problems and just a great piece. Excessively rare. R-13.

Strong

   VF

$695  

Reverse


 

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Mooresburg, TN 37811

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