Inventory - CSA - 1861 - 1862 - 1863 - 1864:
 

Below are a few of my current 1862 CSA offerings. Visit the Terms page to order. To return to home page; click "Shipley's Currency" at upper left.


 

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Abbreviation Key


   Confederate

   Issuers of

Train & Hoer Notes                                                     

 

  ON

SALE                           

by Michael McNeil

Finally, a book with full color illustrations of 7.30 notes (T-39, T-40 & T-41) describing the military, Civil and other fascinating endorsements sometimes found upon the back of these notes. 286 pages of issuers, locations and other obscure information relating to all key Treasury Department, military and other significant issuers. These notes paid 7.30 percent interest per year. Thus the name nickname "7.30" notes. They were often issued in the field by Military Quartermasters in charge of securing supplies for troops. Consequently; a note may have been issued by Captain and AQM James A Glover on the 24th day of December, 1863 at Knoxville, TN or thereabouts for hogs, cattle, cloth or any other thing imaginable needed for Confederate Troops in the area. The citizenry was required to accept Confederate Treasury notes. The intriguing aspect of this book is the fact that issuers names that were previously "guessed" at are correctly named and the unit the individual served with is listed as well. I could go on and on about this book. Once you pick this book up, you will not put it down. If you have the slightest interest in CSA Treasury notes; you will find that this is the best money you have ever spent. Heavy on full color illustrations and printed upon the finest paper stock. Brand new; a must have which originally retailed at $60.00. Mr. McNeil has subsequently updated this book with a much larger (900 pages) version which is well worth the $80 asking cost.

 NEW                         

 

 

 

 

 

 

 

 

        06/2018

  4 More Available

 $10.00

+$7.00

Postage

     &

Insurance

via Priority

Mail

 

 

Reverse

 

 

Once a scan comes up; click the center square for a larger image.

A Few Thoughts about Military Issues

         While many collectors do not collect those 1862/3 $100 notes (T-39, 40 & 41) issued in the field or at some obscure location by a Confederate officer; I feel it helpful to explain the frequently encountered difference in the grade of those "Military" issues vs. the non "Military" issued notes. There are certainly many different Confederate Treasury notes to stimulate collectors interests; consequently, I find it quite understandable that many do not collect these. As the old saying goes "I can't collect everything"! For those who do collect these fascinating notes; many ponder the question of why they found less frequently graded Choice CU or problem free. A very, very few can. For the most part, such is not the case. One must remember that the vast majority of non-military issued $100 notes were held by Banks, Insurance Companies, Cotton Brokers or other large business concerns. These entities kept the notes in vaults while in their possession and took them out once per year. The one and only time these notes were moved occurred when they were taken to the local depository's office once each year for the collection of 7.30% interest. This is why we see interest paid stamps from various locations throughout the South upon the backs of the notes. One hundred dollars was a lot of money in 1862 and the average person never laid eyes on a one hundred dollar note. Consequently; there exist a large quantity of these issues in high grade. They were rarely used in ordinary commerce. On the other hand, the same note issued by a military officer was likely done so out in the field. There are exceptions to this rule in that some 7.30 notes were paid to factories or arsenals. The citizens of the South were required to accept them; thus they were used for a multitude of purposes. A note issued by Major and Quartermaster Albert Danner was likely issued to buy beef cattle; corn, leather or any number of things an army would need, dependent upon where they were and what they needed at the time. Given the fact that many, if not most were issued in some remote location; the odds of the note retaining it's lofty grade are extremely remote. First, the officer likely had them in his saddle bags or the like. Once issued to "Farmer Jones" for cattle or whatever the case may be, the odds that "Farmer Jones" did not handle the note and kept it in pristine condition are remote. He may have been a hundred miles or more from the nearest depositary agent and didn't bother to collect interest. You may rest assured the Banks and other large companies holding these notes did. Without writing a book here; I am trying to convey the reason many military issues are not regularly seen in high grade. The fact that they were oftentimes issued in the field by a Confederate officer practically guarantees us a lower grade. It is part of what makes a military note what it is! The history behind these notes is what draws most all of us into collecting these wonderful objects of Americana. Once one gets past the fact that there is a reason many military issues are lower to mid grade or have problems, the more enjoyment there is in owning such a piece of history. *** Addendum While some of the military issues here may seem "available" or perhaps a tick common today; you may rest assured that this market will not stay this way. Vast numbers of new collectors enter the market each and every day and many are most understandably drawn to this arena. With research tools now available, such as the internet, Fold 3; Mike McNeil's book (listed here for sale) and many other methods; the ability of a note owner to locate the exact history of an individual has reached an unprecedented level. Far too many times have I seen CSA notes which were at one time available become near impossible to locate or outdistance an average collector's ability to financially acquire them. Based upon over four decades of seeing this very thing occur; I highly recommend avoiding such a scenario. The fact remains that there does not exist an inexhaustible supply of these notes and even those considered "common" today will not remain so. Whether you see a note you want here or elsewhere; now is the time to act. For years, I have heard far too many times "I wish I had bought that note" and have on more than one occasion, muttered the same words to myself!

 1862  $100  T-39    CR-289         

 

  Hoyer & Ludwig

 

 

 

  MAY 6, 1862

Serial # 1135. Dated May 6, 1862. An extremely attractive example of this May 6, 1862 Hoyer & Ludwig produced T-39. Clean, bright and very well inked. Cut a tiny fraction tight at the upper right front. While many would grade this note Extremely Fine+; I feel as the note's true, conservative grade is a high end Very Fine. When candled at a specific angle, there are a few extremely faint, light bends the scan does not show and which can not be seen when looking at the note "straight on". No ink bleed, pinholes or other problems and a gorgeous note.  Very Fine ++

 

 

MKT

Grade:

XF 40-45

 $190  

Reverse

 1862  $100  T-39   CR-289a

 

 

 

   Hoyer & Ludwig

 

 

 

    RED 9/12/62

     VALIDATION

        STAMP

 

 

  MAY 7, 1862

Serial # 2186. Dated May 7, 1862. Plate letter "A" and serial letter "h" with period below the "A". Central vignette of locomotive emitting straight steam from smoke stack. Milk maid to lower left. Plain back. Hoyer and Ludwig produced the first trains emitted by the Confederacy and they bear only the dates of May 5, 6, 7, 8 and 9 of 1862. Of the 284,000 T-39's produced; a mere 20,000 were printed by Hoyer & Ludwig as compared to 264,000 printed by J.T. Patterson, a mere 7%. Further, the T-39 was the first interest bearing note issued at the rate of 7.30% interest per annum; thus the nick name "7.30". A very crisp, bright and fresh T-39. Bright, legible signatures and as clean as a pin. While most would grade this note uncirculated, I note a very, very faint fold at the upper right back. Slight handling is barely detected at the far left back and is tolerated by the grading services, as these notes were counted once per year by the larger firms. The handling is very light in the area referenced. The note most likely stayed in the Montgomery, AL area, as is evidenced by three blue Montgomery Interest paid stamps for the years of 1863, 64 and 65. Noted upon the front is a red 91262 stamp. We now know this to be a 9/12/62 or September 12, 1862 validation stamp, believed to be placed upon the note in Savannah, Ga.. The red validation stamp is most often encountered upon lower denomination Confederate Treasury notes; as those firms which handled large denomination notes such as the example offered here employed trained experts to detect counterfeits. There are no Hoyer and Ludwig contemporary counterfeits known. A high quality Hoyer and Ludwig issue which bears the added appeal of a very scarce red validation stamp. Encountered very infrequently and highly desirable as such.  AU++  $450  

Reverse

 1862  $100  T-39   CR-289

 

 

   Hoyer & Ludwig

 

 

 

  MAY 7, 1862

Serial # 1281. Dated May 7, 1862. About as nice as one can expect to find any train; much less a Hoyer and Ludwig. Cut the tiniest bit tight at the upper left front. Bright and clean with amazing eye appeal. As crisp as the day it was printed; I doubt this note saw any circulation. It likely remained in a large companies vault and was removed once per year for the collection of the $7.30 interest due thereon. Two faint corner bumps. A very high grade H&L and extremely scarce as such.  Almost Uncirculated  $325  

Reverse

 1862  $100  T-39    CR-290

 

 

 

  Hoyer & Ludwig

 

 

 

 

 

  MAY 9, 1862

Serial # 1355. Dated May 9, 1862. Another spotless note from this older collection. Free of problems, bearing superb eye appeal. Bright, vivid detail and resulting choice eye appeal. While two notes may grade the same, one may rest assured that they will not bear the same eye appeal. Simply a superb product of Hoyer & Ludwig, the likes of which are very difficult to locate in this day and time. This note and those set out above were assembled when problem free, quality notes were much more readily available than they are now. This is not to imply that one cannot locate a Hoyer & Ludwig issue today; however, it is extremely difficult to locate them as clean, bright and fresh as those you see here. Most I presently see have some sort of problem; such as ink burn, some soiling, a stain, spots, etc.. Not so with any of these very conservatively graded notes.

 Very Fine +

 SOLD  

Reverse

 1862  $100  T-39   CR-290

 

 

 

 PCGS AU 58 PPQ

 

 

    1870-1880

 J.H. Childrey Ad

buying CSA Money

Serial # 11169. Central vignette of locomotive emitting "straight" steam from smoke stack. Milk maid to left. Plain back. Assigned the "PPQ" or Premium Paper Quality designation by PCGS and I can see why. Exception detail, with choice clarity and contrast. Very well inked. Not one single blemish. Normal counting. Cut somewhat tight at the top margin. This trim is made to appear much worse than it is by the very detailed scan. When viewing the note in person, it is hardly noticeable. When viewing a detailed scan such as here; it is akin to holding the note 5 inches from your face. I had to take the note out in the bright sunshine to find a fold. Apparently, a microscopic corner fold exists at the upper right back (in the scan); although I'm not sure. Irregardless, a drop dead beautiful T-39. Further adding to this note's desirability is the ad placed upon the back. J.H. Childrey was a Richmond, VA dentist, druggist and apparently a dealer in Confederate bonds and currency. It is known that Childrey was one of the very first to use actual Confederate notes for advertisement purposes after the Civil War. Actual notes were used for advertising from 1870 until around 1890, when the supply of notes became low and the cost was less to print a facsimile than use the real thing. The fact that this particular ad is for the purpose to buy Confederate Money, Stamps, Bonds, Coins, etc. is most ironic. Seldom seen on a T-39, 40 or 41; especially this nice. A true piece of Americana and quite difficult to locate.

PCGS AU 58

PPQ

 

Premium

Paper

Quality

 $375  

Reverse
Pic 2

 1862  $ 100  T-39    CR-291

 

 

     MILITARY

 

 

 

 H.M. Davenport

  Capt. & AQM

 

 

 

 1st Regiment

 Georgia Infantry

 

 

 

 

  PCGS CHOICE

 ABOUT NEW 55

Serial # 25379. Dated July 24, 1862. Straight steam coming from smoke stack. J.T. Patterson & Co to lower right. Large letter below plen "A". Plain back There is doubling of the plen (letter) "A"; although I am unsure if it shows well in the scan. An earlier military issued note and extremely high grade. Those notes which were issued by a Confederate officer are quite difficult to locate in this lofty state of preservation. The endorsement reads "Issued August 11th, 1862 H M Davenport (Hugh McCall) Capt. & aqm". Simply a magnificent note. Through the tireless effort of Mr. Mike McNeil, we know that Davenport was appointed Captain and aqm on September 11, 1861 and ordered to report to QM General A. R. Lawson near Savannah, GA. On October 15, 1861, Davenport was ordered to report to Col. H. W. Mercer at Tybee Island, District of Georgia. Far too much detail is contained in Mr. McNeil's book to discuss here. The note itself is extremely well inked and pristine. It is indeed difficult to imagine such how a piece survived the last 150+ years in this incredible condition. Valued in McNeil's book at $600 (low grade, VG-F) to $1200 (high grade-true VF-AU). While book values are useful in determining relative rarity, I do not place a great deal of emphasis on them. Nonetheless, having been at this for over four decades, I do understand just how scarce high grade examples of military issued 7.30 notes are. A magnificent note bearing superb eye appeal and further possessing some interesting printing anomalies at the right, upper "A" plen.

PCGS CHOICE

ABOUT NEW 55

 $795  

Reverse
Pic 2

 1862  $100  T-39    CR-291       

 

 

 

   MILITARY

 

 

 

        J. G.

  Michailoffsky              Capt. & aqm          

 

 

 

 

    Very Early

   Endorsement      

Serial # 3459.  Dated June 7, 1862. Straight steam coming from smoke stack. J.T. Patterson & Co to lower right. Large letter below plen "A". Plain back. A very presentable example of this less then common military issued 7.30 note. Michailoffsky was born in Poland and has an intriguing history. Appointed as Captain and QM on April 2, 1862. He lived in Alabama and served primarily in the Macon, GA and Montgomery, AL areas; being associated with the Macon Arsenal much of the time. The issuance reads "Issued Octo 6/62 J G Michailoffsky Capt & aqm". This is quite an early officer endorsement for a 7.30 note. I cannot over emphasize the importance of "Confederate Quartermasters, Commissaries and Agents" written in 2016 by Mr. Michael McNeil. Mr. McNeil's masterful work goes into much more detail than space permits here. The note does not have a single pinhole, is well trimmed and has no problems most often encountered at this grade level. Well inked and superb eye appeal. The endorsement is clear, unobstructed and vivid. One 1863 Interest paid stamp from Savannah is present upon the back. Two, red 1864 and 1865 Interest paid stamps from Macon are observed as well. A very nice, problem free Confederate officer endorsed "Train".

Choice Fine+     

 

 

 

 

Market

Grade:

VF 30

 $395  

Reverse
Pic 2

 1862  $100  T-39  CR-294

 

Full Engraver's

Name: Emiel Thieme at left.

Serial # 29429. Brown ink date of August 4, 1862. A true miracle that this engraver's full name was left upon this note. These names were trimmed off 99.99% of the time. Further, they were placed upon the uncut sheet at random; with no regard to the position of the notes. As may be seen with this note, the engravers name was placed nearly between the "Ae" note above and this note ("Af") upon the uncut sheet. Extremely tough to locate like this. A very clean and crisp note with no problems. An unknown Interest Paid stamp for 1863 with an 1864 Jackson and an 1865 Montgomery. A seldom seen occurrence and highly desirable as such.    VF+  $175  

Reverse
Pic 2

 1862  $100  T-39  CR-294

Full Engraver's Name: Amendt

at left.

Charleston

Serial # 26716. Brown ink date of July 24 on face of note. Manuscript issue of "Aug 29th 1862" upon reverse. Remember this: If no issue date appears upon the back of these 7.30 notes; the date upon the front controlled when interest began accruing. If there is a date of issue upon the back; that date controls when interest began to accrue. In this case, interest obviously began accruing from the reverse date of August 29, 1862. In many cases; these notes were shipped from Richmond to very remote locations; such as Houston, San Antonio or other locations which were a great distance away from Richmond. The Confederacy certainly did not want to pay interest until these notes were issued in their respective locations; thus we see issue dates upon the back. This note is crackling crisp and fresh. Typical trim for the issue. No problems and the very scarce engraver name of Amendt appears in full at the left front. Just because I have several of these, don't let that mislead you into thinking these are common. It has taken me years to acquire them and I am just now getting around to putting them on the web site.

A superb note.

UNC  $185  

Reverse
Pic 2

 1862  $100  T-39   CR-294

 

     

 

 

      ISSUED

HEMPSTEAD, TX

   

        RARE

 

     PMG VF 35

Serial # 24515. Dated August 8, 1862 upon the front. Remember, the face date of the note is the date interest began to accrue unless the note has an issue date on the back. In this instance; does it ever. The note was issued in the tiny Confederate supply location of Hempstead, Texas on December 8, 1862. In brown ink we see "Issued Hempstead, Texas December 8th, 1862". This date would control when the 7.30% interest began to accrue. Issued in Texas four months to the day it was dated in Columbia, SC....August 8th to December 8th. One can only begin to dream what a journey this note made 150 or so years ago. Hempstead is relatively near the present day city of Houston and according to the 2010 census, has a population of 5,770. On June 29, 1858, the Houston & Texas Central Rail Road extended a terminus to Hempstead. This no doubt led to it's role in the Civil War as a small supply center for the vast Trans-Mississippi Department. Notes such as this one are extremely scarce. Houston, San Antonio and a few others; while not common, are seen more frequently. Any Texas note from such a small location is highly prized by collectors; especially those who favor Trans-Mississippi material. Totally problem free, with an unobstructed, legible brown ink issuance. The area you see to the right of "Texas" on the back and just through the "s" in Winston's signature for Register to the left face is a small fold. There is no tear or problem; otherwise, you can bet that PMG would have called it out. Just an outstanding Texas note and a very rare, desirable piece of the American Civil War which ran from the Atlantic all the way to Hempstead and beyond. Amazing.

  PMG

Very Fine 35

 $1450

  

 

Reverse
Pic 2

 1862  $100  T-39  CR-296

 

Full engraver's

name: Amendt

to right.

Serial # 23754. Brown ink date of August 1, 1862 on front. A pretty late date for T-39. Two Augusta IP's for 1863 and 1864 on back. Full engraver's name of Amendt to right. There is a pinhead sized hole which may be seen from the front at the right "100" medallion. Otherwise, a super T-39. Light serial number. Again, typical trim. Many of these notes have old pencil notations upon them of Bradbeer numbers or the like. Bradbeer was published in 1915 and was the first usable guide to collecting CSA currency. The pencil notations do nothing to diminish the value of the note and in my opinion, ad character. A neat piece and priced with the above mentioned issues taken into consideration..  AU:

NET: VF

 $100  

Reverse
Pic 2

 1862  $100  T-40   CR-298

 

 

 

  RED INK ISSUED

    MOBILE, AL

Serial # 61166. Dated October 15, 1862. A well preserved example of the issue; bearing typical T-40 trim. As stated many, many times; T-40 is downright scarce bearing four full frame lines. Johnston/Harvey signature combination. The back illustrates an interest paid stamp for the year of 1863 at Jackson (Interest paid to Jan 1, 1864) and 1864 at Montgomery. An area just below and to the right of the "r" in "Register" could be mistaken for ink when viewing the scan. It is actually a very tiny chink which does not run to the frame line and in no manner affects the appeal or desirability of this note. Two folds and some tiny corner folds are easily observed along with some harder to see faint body bends. In my opinion, these prevent this note from an extremely fine grade. Close to extremely fine....although not close enough. With regard to an issue such as this, a slight difference in grade matters little, so long as we are not talking about a note which grades good to very good. In red ink, we see "Issued Mobile April 1/63". While not as rare (or expensive-for now) as those 7.30 notes issued in the Trans-Mississippi area, such as Hempstead, TX, Little Rock, AK or the like; the manuscript issuance from Mobile is scarce. This issuance has never been seen with regularity and is seldom encountered today.  VF+

 

MKT

Grade:

VF-35

to XF 40

 $375  

Reverse
Pic 2

 1862  $100  T-40    CR-298      

 

 

 

   Snow White          

 

 

 

 

 

 

   "Mariville"                   TN   

 

 

 

 

 

PCGS Choice About

  New 58 PPQ

Serial # 60160. Dated October 11, 1862. Simply an immaculate example of the issue. Superb trim for T-40, as these are rarely encountered with four frame lines. Further attestation to the quality of this note is PCGS's notation of "PPQ" or Premium Paper Quality". T-39 and T-40 were not printed upon the best bank note paper and are very frequently encountered with pinholes and natural defects....even in high grade. Not so with this gorgeous example. I have difficulty in locating any reason this note would grade AU-58 upon examination through the grading service holder. They may be deeming a near invisible corner bump at the lower left back as a fold. It is hard to say. The most appealing aspect of this note is the notation of "Mariville" upon the back. Today named "Maryville" and included in the greater Knoxville metropolitan area. Located in, and the county seat of Blount County, Tennessee; Maryville is near the present day city of Alcoa - the home to Mcgee-Tyson (Knoxville) airport. It's population in 1860 was 493 people. In 1808, Sam Houston (who was 15 at the time) and his family moved to Maryville. He lived there intermittently until 1811, at which time he joined the Army to serve during the war of 1812. Rarely is a location other than a place of issue written upon the back of a 7.30 note. Maryville makes perfect sense in this case, as we see that the note is dated October 11, 1862 and interest which accrued from that date until January 1, 1863 was paid at Knoxville. A most unusual, high quality T-40.

PCGS Choice

About New 58

PPQ

 

Premium

Paper

Quality

 $375  

Reverse
Pic 2

 1862  $100  T-40    CR-298         

 

 

 

 

 

 FULLY FRAMED   

    Snow White       

 

 

 

 

 

 

 

 

 

PCGS Choice About

     New 58                

 

 

 

 

 

 

  Gorgeous Note             

Serial # 62250. Dated October 15, 1862. Without reservation, one of the best T-40's I have ever seen. The issue is well known for mediocre trim. This example is most definitely the exception to that rule. Fully framed with plenty of room to spare. Some very light handling is noted at the mid, left back. As the majority of this issue was held by large companies such as insurance companies, banks, or cotton brokers; they were kept in a vault and taken out once per year for purposes of collecting interest. However; in the interim, they were counted. This was achieved by means of "thumbing" large stacks of the notes for accounting purposes. Consequently; "thumbing" or light counting (handling at one end or the other of a 7.30 note) is not considered wear by the grading services. This note has very little evidence of "counting". Many collectors; understandably so, do not realize how tough T-40 is to locate this well trimmed, The same cannot be said for T-39, the $100 issue preceding this one, as well trimmed T-39's are not difficult to locate. I have over 1,000 T-40's, 350-400 of which are uncirculated. Not a single one can match the eye appeal and incredible trim found upon this note. There are times in our collecting journey wherein we are required to "think outside the box". Many may say, "An AU-58 note vs a New-64 note?" This note represents the classic scenario where I would prefer this note over 99.99% of strictly graded uncirculated examples. No  New 64 or below graded notes will bear this trim and subsequent eye appeal. Although it took a while, I finally found what I presume PCGS refers to as a fold. In reality, it is a light sheet crimp and slightly "raised". It is quite faint and located at the upper left back. In all seriousness; one could look through 10,000 uncirculated T-40's and fail to locate an example such as that offered here. The best I have seen in many years.

PCGS Choice

About New 58

 $375  

Reverse

 1862  $ 100  T-40    CR-298

 

 

                 

   BROWN INK                   

  MOBILE, AL

 

 

 

 

Snow White Note

Serial # 62360. Dated October 15, 1862. Exceptional trim for a T-40; being far above that normally seen upon the issue. As crisp, bright and fresh as the day it was printed. Not a single pinhole or problem of any other kind. Snow white with superb eye appeal. This note likely saw little, if any circulation, spending it's time in the vault of an insurance company, bank or cotton broker until such time as interest was to be paid each year. Interest paid stamps for 1864 and 1865 at Raleigh, N.C.. While not enough time has passed since the collecting of "places" of issue began in earnest to determine just how rare the manuscript Mobile issuance is; I can without reservation say that it is by no means seen with any degree of regularity. In fact, I would call it quite scarce. Extremely scarce in high grade and of the quality of the note here offered..

Extremely Fine

 $350  

Reverse
Pic 2

 1862  $ 100  T-40    CR-298       

  

 

 

 

 

PCGS Very Fine 35

         PPQ

 

 

 

 

 

      Red 2/11/63

   Validation Stamp

Serial # 57966. Dated October 2, 1862. Non-watermarked paper; as usual. Far and away above average trim for T-40. Bright and clean, bearing wonderful clarity and contrast. The front bears a red validation stamp of 21163, or February 2, 1863. This is one of the latest dated validation stamps which one might be fortunate enough to encounter upon any Confederate Treasury note. The counterfeit panic of late 1861 through 1862 was winding down with the introduction of the 1863 issues which were much more difficult to counterfeit. One of the very few times I find myself in agreement with the grading services at this grade level. I have seen graded notes in XF-45 holders which were not remotely close grade wise to this piece. Given the generally porus nature of the paper utilized in the production of T-40, a "PPQ" or Premium Paper Quality designation is practically unheard of with regard to this issue. As clean as a pin with not one single pinhole. When viewed from the back; the very far, left bottom tip is rolled over ever so slightly. From the front, the note looks uncirculated at first glance. Simply a gorgeous, validated note and extremely scarce not cut cancelled or bearing a host of problems. A most elusive Interest Paid stamp to January 1, 1864 from Columbus, MS appears upon the back.

PCGS Very Fine 35 PPQ

 

Premium

Paper

Quality

 

 

 $375  

Reverse

 1862  $100  T-40    CR-298

 

 

 

 

 

 

  MILITARY ISSUE

 

 

 

 

 

    W.F. Haines

    Maj. & AQM

 

 

 

 

 

 

 

 

 

 

 

 

1st Reg Missouri Inf

   J.E. Johnston

 

 

 

 

McNeil Plate Note

Serial # 56807. Dated October 2, 1862. An exceptional example of this very scarce military issued $100 Confederate Treasury note. Totally original and bearing as much selvage as one could ever hope to see on  upon a fully framed T-40. From an old time collection, possessing margins that remain untrimmed (in modern times) and immaculate eye appeal. Endorsed upon the back as follows: "Issued Feby 26/63 W. F. Haines Maj. & QM". William F. Haines enlisted in the Confederate military on June 27, 1861 in Memphis, TN at the age of 30 years. On July 10, 1861 he was appointed Capt. & Pay AQM, reporting to the 1st Regiment Missouri Infantry, Maj. General John S. Bowen's Brigade, J.E. Johnston's command, Army of the West (McNeil-page 311). Far to much data relative to the distinguished service of Haines in the Confederate military exists to discuss here. Suffice it to say Haines had a long, productive and successful military record, (Shiloh, etc.) ending at Weldon, NC in April, 1865. There are 6-10 estimated examples of Haines endorsement upon 7.30 notes believed to exist in any grade or condition. You may rest assured that those surviving examples cannot rival the quality of the note here offered. This exact note is plated in the must have, masterful 900+ page book "Confederate Quartermasters, Commissaries and Agents" written in 2016 by Mr. Michael McNeil. If you do not have this book; I highly recommend acquiring one, provided they remain available. Therein, it's value is listed as low end (approx VG-F) as $600 and high end (approx true VF+-AU) at $1200. I have serious reservations that any Haines endorsed note exists above the grade of true very fine. He did not issue these in quantity or at a specific location within the confines of a larger metropolitan area. He issued them in the field. Due to the overall eye appeal, brightness, body and cleanliness of the note; it presents with a grade higher than it actually possesses ....from a purely technical perspective. Again, this is where the critical, intangible element of eye appeal plays a major factor in monetary valuation. Not one single problem, free of any pinholes and a totally unobstructed endorsement. Conservatively graded, with claims to a higher grade. Very likely the finest know example extant. An extremely scarce opportunity to acquire a very high quality piece of pure American history at it's finest. Very Fine +  $775  

Reverse
Pic 2

 1862  $ 100  T-40   CR-298

 

 

Unusual, Unknown

Interest Paid Stamp

 

 

 FULLY FRAMED

Serial # 34429. Dated August 16, 1862. Walston/ Bell signature combination. Four full frame lines; highly unusual for T-40. Unlike T-39; one can look through thousands of T-40's and not find a single example with four frame lines. Very scarce as such. The back presents with an unknown and quite attractive Interest paid stamp. Two straight lines with print in between reading "INT. PD. TO JAN. 1, 1863". In addition, a Confederate Depositary agent in some Southern location has hand written between the same two lines "Int pd to January 1st, 1864". There also exists a seldom seen interest paid stamp to January 1, 1865 at Jackson. The location of the straight line interest paid stamp is at this time unknown. I have seen T-40's from this same pack 33401-33499 issued at San Antonio, TX. That in and of itself does not conclusively tell us where this intriguing stamp was used; however, it does provide a possible hint. Irregardless, a gorgeous T-40 as crackling crisp and fresh as the day it was printed. Not detectable with the naked eye; a very light fold exists at the upper left corner from the back. A great note for any type set or for the collector of this series. Rare this nice.

CHOICE

     AU+

 $275  

Reverse
Pic 2

 1862  $100  T-40    CR-298         

 

 

 

 

 

 

 

 

 

   San Antonio

Postal Stamp Issued

 

 

   March 3, 1863

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    Choice Note

   Sharp Stamp

Serial # 34679. Dated August 16, 1862 (early for T-40). A superb example of this San Antonio, TX postal stamp issued interest bearing note. Excellent trim for the T-40, as this issue is extremely difficult to locate fully framed. The postal stamp is also far above average in that it is sharp, distinct, vivid and not blurry whatsoever. The San Antonio issued note should not be confused with the release of a good number of Houston straight line re-issue stamped notes around 2 years ago. The San Antonio issued notes (postal or manuscript) are just as difficult to locate as they have always been. What amazing journeys this note made 156-158 years ago. Having been signed on August 16, 1862, this note made it's way from Columbia, SC. on a very arduous journey to South Texas, as is evidenced by the San Antonio postal stamp indicating the note was issued in that city on March 3, 1863; nearly 6 months after it was signed, numbered and dated in Columbia. A side note: remember, the date upon the front of the note (in this case - August 16, 1862) determines the beginning date 7.30% interest was to be calculated unless the back of the note indicates it was issued upon another date. Here we have just such a scenario. The note was not "technically"issued until March 3, 1863, which date would be utilized to determine interest due the note's owner for the year of 1864 and thereafter. The reasoning behind this was to allow interest bearing notes to be transported from Columbia or Richmond to various depositaries in different locations where they were to be issued. This practice allowed interest to be paid on the actual date of issuance, rather than when the sheet was dated. The truly amazing fact with regard to this note is that it made the truly incredible trip from the west BACK east to Richmond, VA. as is shown by the 1865 interest paid stamp at Richmond. The 1865 Richmond interest paid stamp also bears the large "5" which is elusive. An interest paid stamp also exists through January 1, 1864 which is believed to have been used in the Trans-Mississippi Department. A most unusual combination. Here we have a note which was issued in Texas and the final interest payment made in Richmond, VA.. 99.99% of the time, it will be the other way around. There were no roads or highways as we know them today. No cars, no airplanes, no buses or interstate highways. Countless rivers and creeks; dust, rain or snow coupled with weeks upon weeks of hardship. Granted, some of the journey may have been made by rail; although only a small portion. This is the only 7.30 note I have seen which has made the journey out west and back to the east. From what I have seen over the years, a T-39, T-40, or T-41 made the trip west and stayed there. I am sure this piece has an incredible story to tell if it could only talk. Irregardless, an amazing note - especially considering it's history. Crackling crisp, fresh and not one single pinhole. There exists a small corner fold which may be viewed at the upper left back. Further, there exist two or three very, very faint bends which are more likely attributable to counting. A note which many would grade Uncirculated or at least Almost Uncirculated. I think the better grade is Choice Extremely Fine. It doesn't matter what you grade it; the note is extremely desirable and thought provoking. A barely noticeable tiny rust spot which does not penetrate the paper and affects nothing may be seen at the upper left middle from the front. I find it truly surreal that the note here offered remains in this lofty state of preservation; especially when one thinks about how much it traveled and the conditions existent at the time. Pure Americana at it's finest.

CHOICE EXTREMELY

 FINE +

 $395  

Reverse

 1862  $100  T-40    CR-298

 

 

 

 

 

 

Tallahassee Interest

Pd Stamp on Face?

Serial # 46943. Dated September 15, 1862. A very bight, crisp and fresh T-40, bearing typical trim most often seen upon the issue. The back bears a very vivid and legible issue stamp from the Confederate Depositary agent in Charleston, S.C.; B. C. Pressley indicating the note was issued in that city on October 16, 1862. Most often, Pressley's stamp is fuzzy and blurred. Not so here. A black interest paid stamp to Jan 1, 1863 from Augusta is also present. Two interest paid stamps dated 1864 and 1865 from Tallahassee, FL are also noted. Not rare; although not common either. Interestingly, it is hard to determine just how the 1864 Tallahassee stamp was placed upon the note. Did the depositary agent hold the stamp upside down by mistake and stamp the front? A very interesting note and accompanying stamp. The first such situation I have encountered and an intriguing note. Crackling crisp, bright white and as fresh as the day it was printed. Not one single problem.   AU  $175  

Reverse
Pic 2

 1862  $100  T-40   CR-298

 

 

 

 

      ISSUED

 LITTLE ROCK

Serial # 49252. Dated September 11, 1862. Extremely Scarce. As more and more collectors discover the history and allure of collecting the interest bearing $100 notes of 1862 (T-39, 40, 41), the more elusive a note like this becomes. This is not meant to imply that a Little Rock issued note is frequently seen; they are not. These notes are collected by "who issued" and "where issued" and in some cases, by interest paid location. Little Rock, Arkansas is a scarce location of issue. Not to be confused with Trans-Mississippi notes (see description of T-36 in 1861 section), the note here offered is a regular issue. Nonetheless, the vast majority of Train or "Hoer" notes issued West of the Mississippi River are rare and very highly sought after. Three of four margins, quite typical for T-40. A small spindle hole is present in the center of the note; however, in no way detracts from a piece of this rarity. Slight ageing as well. Edward Cross was the Chief Confederate Depositary Agent for Arkansas and was assisted by D.F. Shall and John Brown. We do not know which of the three issued this note. We can surmise how long the arduous journey from Richmond, VA to Little Rock, AR took. The note was dated in Richmond September 11, 1862. It was likely trimmed and packed for shipment very soon thereafter; and issued in Little Rock on New Years Eve (December 31, 1862) over three and one half months later. One can only imagine the route this note took from Richmond to Little Rock in the Winter of 1862. Irregardless, a magnificent 7.30 note rarity and true miracle of survival.  VF  $1250  

Reverse
Pic 2

 1862  $ 100  T-40    CR-300         

 

 

 

 

 

 

 

 

 

    GEORGIA

 STATE SEAL

Serial # 46745. Dated September 15, 1862. Very well trimmed for a T-40; as the issue is most frequently found poorly trimmed. While a circulated note; this example possesses the crispness and body of a CU piece. There exist a couple of margin dings outside of the frame line, although these are not distracting and consistent with the grade. No real problems and actually above average for the grade. The most intriguing aspect of this note appears upon the back. A blue, round issue stamp from Montgomery, AL dated Nov. 1, 1862 emanating from T. (Thaddeus) Sanford's office is seen. Sanford was the Confederate Depositary agent in Montgomery. Contemporary initials and date of "A. Sh. Jan 5/63" appear as well. I absolutely guarantee that these pencil notations are contemporary to the note itself. If you acquire the note and think otherwise; simply return it and I will pay postage both ways. 1864 and 1865 Interest paid stamps from Augusta, GA. The most interesting stamp upon the back is the Georgia State Seal. I have seen the Georgia State Seal upon a few Confederate Treasury notes; although quite infrequently. Why the seal was placed upon the back of this note, or any other Confederate Treasury note is unknown. Could the pencil initials and date relate to it? A solid piece which many would be tempted to grade extremely fine. I think it closer to Very Fine;  and nearly choice VF. Tough to locate bearing the Georgia State Seal; especially as pleasing to the eye as this piece.

VERY FINE

 $ 295  

Reverse
Pic 2

 1862  $ 100  T-40    CR-300

 

 

 

 

       MILITARY

 

 

 

 J.E.P. Daingerfield

   MSK PM CSA

 

 

 

 Fayetteville Armory

 

 

 

 

 

 

 

December 12, 1862

Serial # 54202. Dated October 2, 1862.  A very pleasing example of this military issued note. While the trim is relatively poor at the right, the note exists in that area just as it did the day Daingerfield issued it. Born in Arkansas, Daingerfield's full name was John E. P. Daingerfield. On July 19, 1861, he was appointed as Captain & Military Store Keeper of Ordinance in the Corps of Artillery. Quite an early endorsement for a 7.30 note. He does not list his rank as Captain, which most military issued notes set out. The endorsement reads "JEP Daingerfield MSK PM C.S.A. Dec. 12, 1862". Thanks to the superb work of Mr. Mike McNeil, we can translate these initials for those unfamiliar with various ranks and abbreviations utilized during the Civil War. MSK is Military Store Keeper, while PM stands for Paymaster. Further, Mr. McNeil's work provides the data utilized above. If you don't have one of Mr. McNeil's books which I continually refer to, please acquire one. You will be glad you "gave yourself" this 900 page work of art. A very attractive note which retains great body and is as crisp as a CU note. No ink bleed or burn and not a single pinhole. It would appear that Captain Daingerfield was running out of ink as he was writing the "2" in December 12. This note look much, much better in person than in the scan. Daingerfield spent his entire military career at the famous Fayetteville Armory. The actual name of this facility is "Fayetteville Arsenal and Armory". Untold amounts or munitions and arms were shipped from this locality to various Quartermasters; many for shipment to the Port of Wilmington for distribution throughout the Confederacy. McNeil also informs us that many sample munitions were shipped to C. S. Laboratory in Macon, GA. Simply an intriguing piece of Civil War history. VERY FINE  $525  

Reverse
Pic 2

 1862  $100  T-40    CR-304

 

 

 

 

 

 

 RED VALIDATION

       STAMP

      12/1/62 

 

 

 

 

 

 

 

 "CSA" Block W/M

Serial # 39065. Dated August 24, 1862. Large letter below "A", "CSA" vertical block letters watermark. In reality, above average trim for the T-40. For some unknown reason, the T-40 is simply not found as well trimmed as the T-39. As crisp and fresh and a gem new note; this piece saw very, very little circulation. Bright, vivid signatures and serial numbers. The very first T-40 I have ever seen which bears the red validation stamp and which is watermarked. Further, this is by far the earliest dated (August 24, 1862) T-40 seen by me which carries either the CSA Script or Block letters watermark. As stated below; most watermarked T-40's are seen dated between Sept. 1 and Sept. 15. The Red validation stamp appears to read 12/1/62 (December 1, 1862), although the "1" could potentially be a "4". It matters none. Even if one has hundreds of Trains in their collection, the odds of adding a note which is watermarked and also bears the validation stamp are astronomically against the collector. Just a downright neat note. While it is extremely tempting to grade this note Extremely fine; conservatively, I feel it does not quite make it. Close, but not by old school grading standards. When it comes to a note which is set apart from the norm such as this one; it actually makes little difference if the note is Gem CU or Choice Very Fine.  I certainly don't know where one could find another, especially given the fact that this is the only one I've seen in over 40 years. Such a note would be an extremely interesting addition to any collection of 7.30 notes.

Very Fine +++

 

 

 

MKT:

Grade XF-40

 $325  

Reverse
Pic 2

 1862  $100  T-40   CR-306

 

 

      CSA Script   

        Letters

      Watermark

Serial # 40725. Dated September 1, 1862. A very attractive example of the issue which also bears a full "CSA" in script letters watermark. The scan does not come close to doing this note justice. The "CSA" watermark is perfectly centered and when the note is held to the slightest light source; it is bold, vivid and very easy to see. The watermark runs from left to right...as though it was intended to do so. Of course, this was merely luck. The vast majority of T-40's are not watermarked. Most watermarked T-40's I have seen through the years are dated September 1-15. The latest date I have seen on a watermarked T-40 is September 23, 1862. Most watermarked paper went to the State of Virginia; with the Confederacy being a close second. While no one knows how or why watermarked paper wound up being used on T-40 to a limited degree; I'm certainly glad it was. As the $100 notes of 1862 progressed into the issuance of T-41 (Slaves Hoeing Cotton), the appearance of watermarked paper became much more prevalent. Although the scan poorly illustrates it; here offered is a beautifully watermarked note. As crisp as the day it was printed.   VF-XF  $145  

Reverse

 1863  $ 100  T-40    CR-308

 

 

 

 

 

    MILITARY

 

 

 

 

 

  George Dashiell

    Capt. & aqm.

 

 

    PMG Almost

 Uncirculated 50

 

 

 

     Gorgeous      

    Endorsement

Serial # 66737. Dated January 6, 1863. Central vignette of locomotive emitting "diffused" steam. Milkmaid to lower left. Plain back. A superb T-40 standing alone; much less bearing the gorgeous endorsement of Dashiell. Locating any military issue without problems is quite a feat; much less a note of this quality. Exceptional trim for T-40. As stated; problem free, if the note were otherwise, you can bet that PMG would have so stated. According to McNeil (Confederate Quartermasters, Commissaries, and Agents), Dashiell was appointed as Capt. & AQM to the 154th Regiment Tennessee Volunteers on October 22, 1861. Further, McNeil states that Dashiell appears on reports dated February 13th and June 20th, 1863 as an officer in Cheatham's Division, Polk's Corps, Army of Tennessee and stationed at Shelbyville, TN as Division Paymaster. Documents indicate that Dashiell was in Knoxville, TN ; La Grange, GA; Dalton, GA; Mobile, AL; Columbus, MS; and Gainesville, AL among many, many other locations. A side note; if you do not have Mr. Mike McNeil's 2016, 900 page work on this subject, I highly recommend that you acquire a copy. It is simply magnificent, containing invaluable data, documents, color photos and countless other references never before available to collectors. The back of this note vividly displays the elegant endorsement which reads as follows: Issued February 12th 1863 Geo Dashiell Capt. & aqm". The note was likely issued by Dashiell in or around Dalton or La Grange, GA. Not a secretarial signature. Volumes could be written about this note, however; time does not permit it here. In Fricke's 2014 Field edition of Collecting Confederate Currency the note is valued at $300 in low grade and $600 in high grade. McNeil's 2016 work values the note at $600 in low grade and $1200 in high grade. Book values do represent a good guide as to "relative" rarity or value; although ultimately, the value is determined by what a willing buyer and a willing seller agree upon. Personally, I have never paid a great deal of attention to "book" value and base what I am willing to pay upon quality, rarity, eye appeal and experience. Irregardless, an opportunity to acquire a seldom seen military issued note which to this day remains in immaculate condition.

PMG ALMOST

UNCIRCULATED

       50

 $875  

Reverse
Pic 2

 1863  $100  T-40    CR-308

 

DATED JAN 1863

Serial # 63069. Dated January 6, 1863; the next to last day for this issue as listed in Thian and Criswell. Some minor edge bumps; although overall a very clean and crisp T-40. No collection of Trains can be complete without a January 1863 issue. The back reflects that the note was issued in some unknown location on February 14, 1863. This could not have been too far from Richmond, as the travel time for the note is merely about a week past it's face date. If you want a reasonably priced, clean and crisp Jan 1863 T-40, you can't go wrong here.  VF+/XF  $140  

Reverse

 1863  $ 100  T-40    CR-308

 

 

 

    MILITARY

 

 

 

 

 

   MARTIN WALT

     MAJ & QM

 

 

 

 

 

 

    High Grade

Serial # 69019. Dated January 8, 1863. Diffused steam emitted from Smoke stack of locomotive. Milk maid to lower left. Plain back. An immaculate T-40. Superb trim, crackling crisp and superb eye appeal. The slightest of foxing is present at the top, left margin when viewed from the back. A a tiny edge chink is also visible in this small area, which affects nothing when considering exactly what we are looking upon. As fresh and crisp as any new bank note that one could obtain at your local bank today. Bearing the last date for T-40 as listed in Thian and Criswell; although one pack of 100 T-40's bearing the date of January 16, 1863 is known. A very tough issuer to locate; the back reads as follows: "Issued 4th March, 1863 Martin Walt Maj. & QM". Walt was appointed Maj. & QM on October 14, 1862. When this note was issued, Walt was most likely in or near Tullahoma, TN. We surmise this due to the fact that he issued a number of vouchers from Tullahoma between April 3rd and May 3rd, 1863. Never have these notes been so interesting to own and hold in your hands. It wasn't until 2016, when Mr. Mike McNeil released his 900+ page treatise upon this subject that so much information was available. Just as with CSA type notes, it is sometimes easy to assume that notes such as this one will be available forever. I must admit, I was guilty of this during the 80's and 90's. We are now seeing just the opposite relative to the Confederate series of Treasury notes....nice examples of tough to even semi tough type notes are next to impossible to locate. The same will happen in this arena; only at a more rapid pace. A tough officer to locate and a note which looks much better in person than in the scan. Simply gorgeous. Extremely Fine+  $895  

Reverse
Pic 2

 1863  $100  T-40   CR-309

 

 

 

 

      MILITARY

 

 

 

  Israel Gibbons

Louisiana, Capt. and AQM to Gen. Joseph Wheeler

   

       Beautiful

    Endorsement

Serial # 65917. Dated January 8, 1863. Likely issued by Gibbons near McMinnville, Tennessee on February 26, 1863. Israel Gibbons was initially appointed Captain and Assistant Quartermaster to the 5th Louisiana Battalion (Lt. Col. John B.G. Kennedy, 1st Division, Western Department) on October 22, 1861. On September 27, 1862  he was assigned as Capt. and QM reporting to Brigadier General Joe Wheeler. Captured at Macon, Georgia on April 20, 1865 and paroled at Augusta on May 7, 1865. I find it truly incredible that so much history can be contained and traceable in a single Confederate Treasury note. Thus; the allure of collecting those notes issued by Confederate officers. Thanks to the hard work and research of many; first and foremost the 2016, 900+ page book published by Mr. Mike McNeil, "Confederate Quartermasters, Commissaries, and Agents", it is now possible to simply look this officer up by name in this magnificent book and read this amazing information. The note is brought to life in a manner which us "old timers" never dreamed possible. As well inked as any T-40 I've ever seen; obviously printed just as the plates were freshly inked. The right side from the front is toned and chinked in a couple of locations; however it is not as distracting as it looks in the scan and is insignificant. Bright white, crisp and amazingly clean. Gibbon's gorgeous endorsement is clear, unobstructed and vivid. One will quickly find that minor problems do not affect the value or desirability of a military issued 7.30 note in the same manner as a regular CSA type note.

Almost

Uncirculated

 

Margin chinks

right side.

 $495

 

 

Reverse
Pic 2

 1862  $100  T-41   CR-317

 

 

RE-ISSUED

HOUSTON, TX

Serial # 8950.  Dated Sept. 6, 1862 upon the face. Great color and contrast provide excellent eye appeal on this $100 CSA note that was re-issued in the Trans-Mississippi Department. Most frequently encountered in grades of Very Fine or so; consequently; high grade examples are extremely difficult to locate. Crackling crisp and fresh. From an old time collection assembled in the late 50's. As with most 7.30 notes, counting is evident at the right reverse. The vast majority of these $100 notes were held by large cotton brokers, insurance companies, banks and the like and were stacked and "thumbed" (counted) from time to time; especially when annual interest was due. It is next to impossible to locate a high grade example that does not show counting and such "counting" does not affect the grade. Trimmed tight at the lower right. Two very small corner folds. While a good number of Houston re-issued notes have recently entered the market; the grade of this note sets it apart from the vast majority of those notes or previously existent Houston reissues.  XF+/AU

Market Grade:

  UNC

 $395  

Reverse
Pic 2

 1862  $ 100  T-41   CR-317A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

      ISSUED

BONHAM, TEXAS

Serial # 123705. Dated December 18, 1862. Scroll one, frame line stops at "Except". Vertical "CSA" block letters watermark. Jumbo margins grace this choice 1862 $100 note which was issued West of the Mississippi River in the Trans-Mississippi Department. Bonham, Texas is located near the State's northern boundary, quite close to the Oklahoma border, northeast of Dallas. While mainly an agricultural center during the Civil War; Bonham served as the site of General Henry E. McCulloch's military headquarters for the Northern subdistrict of Texas. McCulloch's presence enabled local merchants to sell the Confederate troops and government goods of various types; thus the issuance of the note you see here. The issuance reads: "Issued March 28, 1863 Bonham, Texas". Interestingly, there are no interest paid stamps indicating the notes owner was paid the $7.30 interest due per year upon the note. In all probability, the distance to the nearest depositary agent to collect the interest was simply to great. A fascinating piece of history which retains the black ink alignment line at the top center. This line was placed upon the uncut sheet to aid in the accuracy of trimming the notes from the uncut sheet and is most often trimmed away and unseen. A choice piece and a note which many would grade higher. Crisp, bright and fresh; although three very faint, hard to see bends or folds prevent the note from being assigned a higher grade. A splendid example issued West of the Mississippi River and highly sought after as such. Very seldom seen.

Choice Extremely

       Fine

 $1075  

Reverse
Pic 2

 1862  $  100  T-41    CR-317A     

 

 

 

 

    PMG CHOICE

       ABOUT                  UNCIRCULATED

        58 EPQ      

 

 

    Issued Mobile           Alabama - Brown

         Ink                      

 

 

 

   CHOICE NOTE

Serial # 29192. Plate "X". Dated December 18, 1862. Scroll one, frame line stops at "Except". Vertical "CSA" block letters watermark. An absolute "choice" example of this very elusive "Mobile, AL" issued 1862 $100 Confederate Treasury note. There exists a very small, light corner fold at the lower left back. It is extremely faint; requiring good light to observe. This insignificant, non distracting "fold" is all that prevents a much higher grade from being assigned this wonderful piece. While manuscript issued 7.30 notes from the city of Mobile are encountered once or twice per year or so; encountering an example is by no means a frequent occurrence. Such notes are downright scarce.  Locating an example in this immaculate state of preservation is indeed a minor miracle. Of the few manuscript issued Mobile, AL notes I have seen; this is the first I have observed wherein the issuance is written across the bottom of the note. "Issued Mobile April 20 63" states the very elegant issuance. Superb eye appeal,           marvelous trim and extremely well inked. Should a collector desire a scarce manuscript issued 7.30 note from Mobile, I certainly do not know how one could ever do better than this. Choice in all respects and most definitely graded utilizing the "collector oriented" method. Quality and rarity; a combination that is impossible to go wrong with.

PMG CHOICE             

ABOUT UNCIRCULATED

 58 EPQ                       

 

 

Exceptional

Paper

Quality

 $495  

Reverse
Pic 2

 1862  $ 100  T-41  CR-317A

 

 

 

 

 

 

Two 1865 Jackson

IP Stamps -

One Crossed Out

Serial # 47464. Dated November 6, 1862. An unusual T-41 if I've ever seen one. The back of the note displays a large "Issued from Asst Treas. Off. Jackson, Miss. Jan 1, 1863". The larger issued stamps are not common; although this particular stamp is not rare. What I have never seen is the cancelling of an interest paid stamp. Note the Interest paid stamp for 1865 at Jackson that is not crossed out. The other stamp is the exact same stamp; although it is crossed out. An obvious case of human error. The person stamping the note could have been "shooting the breeze" with someone; looking at a pretty lady who brought the note in or something else that distracted him. The fact that there appear no Interest paid stamps for the year of 1864 would indicate to me that the note was not owned by a large company. One can count on the fact that no large business would miss out on a year's worth of interest. Whatever the case, a most unusual execution error and one that is never seen. The extra ink on the back of the note comes from the agent taking a straight edge and marking the extra 1865 stamp out. As quill pens were used; it is not at all uncommon to see some splatter in this type of situation. Very well trimmed and crisp. Just a downright neat note and one that can stir the imagination.

CHOICE

    AU

 $295  

Reverse

 1862  $100  T-41   CR-317A

 

 

       ISSUED

GALVESTON, TX

 

 

        PCGS

GEM NEW 66 PPQ

 

 

     

Serial # 114663. Dated December 15, 1862. Scroll One, frame line stops at "Except". Vertical "CSA" in block letters watermark. Columbia to lower right. John C. Calhoun to lower left. Famous central vignette of "Slaves hoeing cotton". Plain reverse. An incredible T-41 in it's on right; much less having been issued in the Texas port of Galveston. One can attend a large coin/paper money show today and see an occasional T-41 in this grade bearing no rare location, officer issuance or any other distinguishing trait, priced between $1200 and $1800. I find it truly amazing that this note was shipped all the way from Columbia, South Carolina to Galveston, Texas and still merits a Grade of Gem New 66 today. It would be near impossible to transport such a note without bending it or folding it in some slight manner. The note could not be transported this great distance by rail, as not enough route or same gauge tracks existed at the time. The journey was most likely made by horseback with the note inside a saddlebag. Be that as it may, you are likely looking at the very best surviving note issued West of the Mississippi River. These notes are always in great demand; although I will have to say I've never seen or heard of any note issued West of the Mississippi remotely close to this grade. A Trans-Mississippi territory issued note which one could never, ever go wrong with. Incredible.

PCGS

GEM

NEW 66

PPQ

Premium Paper Quality

 $1750

 

 

Reverse
Pic 2

 1862  $ 100  T-41    CR-318A                                 

 

 

 

 

 

       

     Military 

 

 

 

 

 

 

 

 

 

 

     PCGS ABOUT

  UNCIRCULATED

            55

 

 

 

 

 

 

 

 

 

 CONFEDERATE

  STATES NAVY               

Serial # 43311. Plate letter Z. Dated November 5, 1862. "CSA" block letters watermark. Scroll two. Inner frame line stops at "Except". Plain back. Simply a gorgeous example of this CS Naval issued T-41 bearing ultra wide margins all the way around. Clean, bright and fresh bearing stunning eye appeal. The back of the note vividly illustrates the unobstructed issuance of Felix Senac, Paymaster of the Confederate States Navy. In bright red ink we see: "Issued May 2, 1863 Felix Senac Paymaster". Based upon thousands of hours of research contained in the incredible book by author Michael McNeil "Confederate Quartermasters, Commissaries and Agents" we know that Senac was from Florida and first appointed Paymaster in the Confederate States Navy on October 23, 1862. Much, much more information relative to Senac and many, many others may be found in Mr. McNeil's amazing 900 page work. If you do not have a copy, I highly recommend acquiring one, provided you can locate a copy. This note was likely issued by Senac in Atlanta, Ga.. I know of only three Naval issued 7.30 notes issued by different Naval Paymasters which may rarely be available to collectors. That of John Nixon, Paymaster; John J. McPherson, Asst. Paymaster; and this one. Of the three, McPherson is currently the most rare. I must digress. The plastic holder of this note bears the connotation "Minor Tear". I have looked at this note under ultra violet light, bright white light, various degrees of magnification and every manner in which one can imagine. I can locate no tear of any kind at any location upon the note. A decent example of Senac's endorsement which grades Very Fine+ will cost as much as the note you see offered here. A splendid piece indeed and an opportunity to acquire a beautiful Confederate States Naval issued note at an amazingly low cost. Simply incredible eye appeal.

PCGS ABOUT

UNCIRCULATED 55

 $575  

Reverse
Pic 2

 1862  $ 100  T-41   CR-318A

 

 

 

 

 

 

 PCGS NEW 62

 

 

 

 

 

  FULL VERTICAL

"CSA" BLOCK

  WATERMARK

Serial # 48511. Dated November 24, 1862. Scroll Two. Frame line stops at "Except". FULL vertical "CSA" in block letters watermark. Plain back. The unusual aspect of this T-41 is the fact that the "CSA" in block letters watermark which runs vertically is complete. This paper was smuggled from Great Britain through the Northern blockade of Southern ports in rather large, round reams. The paper bore enough of the "CSA" watermarks for there to exist 8 watermarks per sheet or one per note; however, such did not turn out to be the case. As the paper was cut from the ream for the actual printing of the T-41, no attention was paid by those trimming the sheet from the ream as to the location of the watermarks. Consequently; the vast majority of notes bearing the vertical "CSA" in block letters watermark bear only a portion of the watermark. We may see anywhere from a small portion of a "C" or we may see two of the three letters comprising "CSA". Seldom do we see the entire "CSA" watermark. The appearance of the entire vertical "CSA" block letters watermark was merely by "happenstance". Again, by far the vast majority of any Confederate Treasury notes printed upon this paper will bear only a portion of the watermark. The capture of the blockade runner "Bermuda" in 1863 with a large quantity of this bank note paper aboard resulted in the discontinuance of it's use by the Confederacy in October, 1863. A most intriguing T-41.

PCGS NEW 62

 $275  

Reverse
Pic 2

 1862  $100  T-41    CR-319

 

 

 

  Military Issue

 

 

 

 

 Albert C. Danner

   Capt. & AQM

 

 

 

 

 

 

     Missouri

Serial # 24339. Dated October 2, 1862. Scroll one. Frame line passes all the way under "Except". "CSA" in script letters watermark. An intriguing military issue. Upon the back, we see "Issued Mar 4/63 Albert Danner Capt. & aqm". Danner enlisted as a Private with the Missouri State Guard on May 3, 1861. At the age of 22 years, he was appointed from Chariton County, Missouri on July 2, 1862 to the rank of Captain and AQM, reporting to General S. L. Price. He was later assigned to Gen'l M.E. Green's Brigade, Bowen's Division, Army of the West as Capt. & Paymaster on October 30, 1862. Suffice it to say, if you have Mr. Mike McNeil's incredible new 900 page reference book "Confederate Officers, Commissaries and Agents" you will be enlightened with much, much more data relative to Captain Danner than I can mention here. I cannot over emphasize the importance of this wonderful new (2016) masterpiece. This note was issued 4 months to the day before Danner was captured at Vicksburg on July 4, 1863. Although released one day later; rejoining his unit, Danner has an intriguing history. Only a brief portion is mentioned here while the remainder is contained in Mr. McNeil's book. Most frequently seen signed upon the 1862 $100 notes as "A. Danner"; this particular note bears his full first name, to wit; Albert. Some foxing or light staining is seen along the lines of a wallet fold. No pinholes, chinks or other problems and a very nice note, given that it was likely issued in the field. A wonderful piece of Civil War history and a beautiful endorsement. Fine+  $575  

Reverse
Pic 2

 1862  $100  T-41   CR-319A

 

 

Extremely Rare

Red 1863 Richmond

Interest Paid Stamp.

Serial # 3357. Dated August 28, 1862. Scroll one; "CSA" script letters watermark. Frame line stops at "Except". An intriguing and excessively rare example of this early issued T-41. For those who study 7.30 notes; it is known that the red "Interest Paid to Jan 1, 1863 at Richmond" stamp is very scarce; if not downright rare. While there are other more "glamorous" stamps; such as Issued "Shelbyville, TENN" to name one, the red Richmond is much more scarce. Often overlooked as such. If the thought should occur, the next few times you are looking at any 7.30 note, try and locate a red 1863 Interest Paid at Richmond stamp. While it is difficult to remember to look, I do believe you will see the point I am trying to make. Trimmed a tick tight at the lower left; the note is crackling crisp and fresh. Original embossing may be seen upon the back as well. For the serious collector of 7.30 notes, here is the opportunity to acquire a very tough one. The stamp is somewhat fuzzy; although nonetheless rare. I have been fortunate enough to look through thousands upon thousands of Trains and "Hoers" (7.30 notes) and be unable to locate a single red Richmond interest paid stamp. While the collecting of 7.30 notes has not yet evolved to the point of pinpointing extremely rare interest paid stamps such as this one; you may rest assured it will.  XF/AU  $225  

Reverse
Pic 2

 1863  $100  CT-41 CR-316B       

 

  Tremmel 316A

 

 

 

 

        Superb

   Contemporary

     Counterfeit

 

 

 

 

 

 Dated August 7

Red ink serial # 1749. Brown Ink Signatures. Dated Aug. 7, 1862. No genuine T-41's were dated prior to August 26, 1862. Scroll Two. Frame line stops at "Except". Four flourishes over left "X" plate letter. A very deceptive and well executed counterfeit. Had it not been for the fact that $100 which such a large sum of money in 1862; it is my humble opinion that more of these would have passed as genuine. A one hundred dollar note would have been inspected with great detail; especially during the counterfeit panic of late 1861 to 1862. The date of the note tells us that the counterfeiters, while familiar with the T-41 itself, however; were not familiar or had knowledge of when the issue was released. I find the August 7, 1862 date to be an intriguing and most appealing aspect of this note, as nearly all CT-41's found will be dated within the proper date range as genuine T-41's. It is readily apparent that no attempt was made to pass the example here offered due to the note's pristine state of preservation. Examples of the CT-41 which remain in the incredible condition as the note offered here are very scarce and rarely appear. As is the norm, I will pay double or more  the prices listed in Tremmel for any similar 316A. Superb trim, bright, fresh and as crisp as the day it was counterfeited. Very good forgery's of W.G. Allen for Treasurer to the lower right and C.S. Taylor for Register at the lower left. No folds, spots, pinholes or problems of any kind. Breathtaking eye appeal. If you desire one of the finest CT-41's which could ever be acquired; here it is. From the John J. Ford collection of CSA contemporary counterfeits which I acquired in 2005. An incredible contemporary counterfeit and a note which would make a superb addition to any collection of Confederate Treasury notes...anywhere.  GEM

  CU

  SOLD

 

Reverse

 1862  $100  CT-41 CR-319A

    Tremmel 319

 

 

 Contemporary

  Counterfeit

 

 

 

 

  Bogus Jackson  

    Issue Stamp

Serial #78434. Dated December 1, 1862. Scroll one, frame line stops at "Except". Brown ink signatures and red ink serial numbers. Orange "HUNDRED" overprint. Plain back. Although very difficult to see at first; there exists a "CSA" in script letters watermark. The watermark is smaller than the usual script letters watermark and is located behind the "HUNDRED" overprint. Simply a magnificent contemporary counterfeit. This note is part of a group CT 41's which were consecutively numbered and which I acquired from Central America some years ago (see Tremmel page 210). One hundred dollars was a lot of money in 1862 and these counterfeiters went to every effort to make this high denomination counterfeit look "real". The back of the note bears a bogus Treasury stamp from Jackson, MS. Note how the left side does not bear a  black line enclosing the stamp. All of the group were as such and their stamped Jackson issue dates alternated between Jan 1, 1863 and Jan 15, 1863. We also see the name "J.W. Deaver" in brown ink above the stamp; no doubt a further attempt to provide the note with a "genuine" appearance. In addition, a classic illustration of "artificial circulation" is evident. A mere glance at the back reveals that the "wear" we see has actually not arisen from genuine circulation. The note has been crumpled intentionally to simulate circulation. Actual wear does not produce the type of random bends, folds or "look" this note has. Each and every note possessed the same "wear". Such is not likely when consecutively numbered notes which have had been together since the Civil War are located some 150 years after they were printed. In reality; this note saw no circulation whatsoever. Being part of a consecutively numbered group located in Central America; this note, along with the others in the group would have had no opportunity to circulate. What a story this note could tell if only it could talk. I could go on and on about this superb contemporary counterfeit; although space does not permit it. These counterfeiters placed a good deal of extra effort into their product and it shows. A contemporary counterfeit straight from the original group discovered by myself in Central America over 12 years ago. Absolutely guaranteed to be contemporaneous to the Civil War. This is no reprint or facsimile. A truly fascinating piece which merits close study and a wonderful addition to any collection of 7.30 notes.  VF

 

Total Artificial

Circulation

 $350      

  SOLD

 

Reverse
Pic 2

 1862  $100  T-41    CR-319A

 

 

 

 

 

 

 

 

  Large "Issued       

     Knoxville                   Depository"                  Stamp               

Serial # 64258. Dated November 20, 1862. Scroll one. Frame line stops at "Except". "CSA" script letters watermark. A fresh, crackling crisp example of the issue bearing superb eye appeal. Incredible margins with no stains, soiling, pinholes or problems of any nature. The back bears the large "ISSUED FROM DEPOSITORY, KNOXVILLE JUL 28, 1863" stamp. Interestingly; the note also bears a somewhat faded "Interest Paid to 1st January 1864, at Knoxville" stamp as well. J. G. M. Ramsey, the Confederate Depositary at Knoxville fled the city in late November of 1863; taking  all Confederate Treasury notes he was in charge of with him. He went to Atlanta, GA and placed these assets at the Bank of Fulton in that city. Consequently, the 1864 Knoxville Interest Paid stamp seen upon this note was not done at Knoxville, but in the Atlanta, GA area. Fascinating. One tiny corner bump at the upper left back which is extremely small and difficult to see. The other areas seen upon the back are "sheet crimps" which existed within the paper when this note was printed. Were this note a Federal note, these areas would add to the notes value. They do nothing to detract from the note, are totally original and as stated, were present when the note was printed. Those who have had the opportunity to examine many CSA notes are aware that this is not the least bit uncommon and in many ways, actually adds to the note's history. They are "raised" and not folds. A very appealing and desirable T-41.

Choice AU+  $165  

Reverse
Pic 2

 1862  $100  T-41    CR-319A

  Very Scarce

1865 Black Macon

 Interest Paid stamp

Serial # 4242. An unusual date of August 30, 1862. "CSA" in Script letters watermark. Printed upon paper made in Bath, South Carolina, near Augusta. Bright, vivid and crackling crisp. An 1863 IP stamp for Augusta, a red 1864 IP stamp at Macon and an extremely rare, black 1865 IP stamp at Macon. These are always red. Perhaps the collecting of 7.30 notes has not come far enough yet; although the rarity of this piece is well documented. One of the very few 1865 black Macon Interest Paid stamps I have ever seen.  AU+  $295  

Reverse

 1862  $100  T-41   CR-319A

 

 

   MILITARY ISSUE

 

      RED INK

 

 

Edgar Miller, Capt.

 

 

 

 Albert Sydney 

    Johnston

 

Serial # 22336. Dated September 29, 1862. A lovely example of the issue, with no problems. Cut somewhat tight at the right; although the frame line is present; just hard to see against the black background of the scan. "CSA" in scrip letters watermark. Very well inked, possessing superb eye appeal and razor sharp corners. Loads of original embossing remain. One horizontal fold is seen. The back is very legibly endorsed: "Issued 4 March 1863 Edgar Miller Capt. & aqm". Most reverse endorsements or issuances upon T-39, T-40 and T-41 are found in brown ink. Red ink was much harder to come by and a great deal more expensive. Appointed on December 24, 1861 as Captain & ACS and ordered to report to General Albert Sydney Johnston in Tennessee. Other documents indicate that in 1862, Miller traveled with Johnston to Corinth, MS; Huntsville, AL; Shelbyville, TN; Stephenson, AL; Decatur, AL; Grenada, MS and various other locals. His signature is bold, clear and bright. The interest paid stamp just below Miller's endorsement adds a great deal of interest to this note. Even though the black interest paid stamp says "Interest paid to 1st January 1864, at Knoxville", such was not the case. Knoxville fell in late November of 1863 and J.G.M. Ramsey, the CSA depositary agent there, fled Knoxville just before it fell. He took all CSA assets and Bank of Tennessee assets with him and went to Atlanta; storing them at the Bank of Fulton. Consequently, the interest paid stamp was actually placed upon this note in or near Atlanta. A most interesting twist to an intriguing piece. A very high quality note issued by a extremely interesting Confederate officer.  XF/AU  $675  

Reverse
Pic 2

 1862  $100  T-41   CR-319A

 

 

 

 

          PMG

 GEM NEW 66

         EPQ

Serial # 12416. Dated September 11, 1862. Central vignette of Slaves hoeing cotton. Columbia to lower right and John C. Calhoun to lower right. Red "HUNDRED" overprint. Plain back. "CSA" in Script letters watermark. An incredible T-41 if there ever was one. As deeply embossed as any example of this issue I have ever encountered. Unfortunately, the embossing does not show in the scan. Deep embossing is vividly evident behind the central vignette, both left and right vignettes and all printing. Interestingly, the date of September 11, 1862 is not listed in Thian's book (here offered for sale) which was prepared in the 1880's. Little did the person dating this note envision what the date 9/11 would come to mean to this country some 150 years later. Eye appeal beyond description with the note being much brighter and much more aesthetically pleasing in person than in the scan. We see a blue, round "T. Sanford Montgomery, AL" issue stamp on the back, indicating that the note was issued by his office on November 20, 1862. Further noted are a blue Interest paid stamp from Montgomery to January 1, 1863 and two red Macon, GA interest paid stamps to January 1, 1864 and 1865. A true gem in all respects and a note which would be impossible to improve upon; no matter what "number" assigned to it by the grading services. Superb.

PMG

GEM NEW 66

EPQ

Exceptional Paper Quality

 $895

 

 

Reverse

 1862  $100  T-41   CR-320

 

 

  RED 11/10/62

Validation Stamp

 

 

 

 PMG AU 53 EPQ

Serial # 21974. Dated September 29, 1862. Scroll 2, frame line runs completely under "Except". "CSA" in script letters watermark. Exceptionally well inked and thus very striking. Loads of original embossing. The bend you see at the top middle is merely a "furl" or a location wherein the paper outside of the frame line rolled over in one particular location. This in no manner affects the note in a negative fashion; otherwise we would certainly not see the "EPQ" (Exceptional Paper Quality) designation assigned by the grading service. I note one very light fold at the middle, left back. Otherwise; razor sharp corners, a very bold watermark along with bold, bright signatures and serial numbers. The intriguing aspect of this note is the red 111062 stamp we see just above and slightly to the right of the date. I was fortunate enough to spend a great deal of time with the late Dr. Douglas Ball through the years and we discussed these red stamps many, many times. Dr. Ball believed they were validation stamps placed on various notes during the counterfeit panic of late 1861 and 1862. He further believed the stamp was used primarily at Savannah, GA. While we have no interest paid stamps to guide us relative to this 7.30 note; I do agree with Dr. Ball. In this case; the red 111062 would translate into 11/10/62 or November 10, 1862. These red validation stamps are seen much more frequently upon lower denomination CSA notes and are very seldom seen on the $100 T-41. In fact, I can't recall the last such T-41 I have seen. An exceptionally scarce T-41 and an opportunity  to acquire a seldom seen 7.30 issue.

PMG

AU 53

EPQ

Exceptional

Paper

Quality

 $495  

Reverse

 1862  $100  T-41   CR-320A

 

 

     MILITARY

 

 

 

   J Cummings

      Major & Commissary Staff

 

 

 

 

 

     Gorgeous

   Endorsement

Serial # 26499. Dated October 25, 1862. "CSA" in script letters watermark. An amazing high grade example of this Military issued T-41. Not a single pinhole or other problem. Trimmed a tick tight at the top, the black frame line is present all the way across the note. The black background of the scanner makes it difficult to see. A gorgeous T-41; being well inked with superb clarity and contrast. As crisp as the day it was printed and spotless. The back bears a faint and seldom seen blue issue stamp "Issued December ?? 1862". To date, we do not know where this stamp is from, although I have seen it on rare occasion upon other 7.30 notes. In brown ink, we see the endorsement of J. (James) F. Cummings Major & CS. Cummings issued the note on December 1, 1862. The endorsement is clear, unobstructed and very legible. Cummings was appointed Major & Commissary of Subsistence (Maj. & CS) on August 16, 1862 and ordered to report to the Commissary General in Tennessee. He served as a purchasing Commissary in Tennessee, Florida and Alabama. In addition, among many other duties, he was ordered to Atlanta, GA on January 25, 1864 and from that location, to Demopolis, AL on March 1, 1864. Far more detail exist relative to Cummings than I have space to mention here. Relative to the note itself; T-41's don't come with any better eye appeal than this note. The ink which may be seen at the upper left back was occasioned when another freshly dated sheet was laid upon top of the stack and the back of this sheet. No ink bleed or burn. A sheet crimp exists at the upper left back. This is not a fold and such is most evident upon seeing the note in person. There does exist a tiny corner fold at the upper right however. A superb note in all respects and truly pristine.   AU  $675  

Reverse
Pic 2

 1862  $ 100  T-41    CR-319A

 

 

       MILITARY

 

 

 

Maj. J. F. Cummings

     Blue Stamp

Serial # 27375. Dated October 25, 1862. Central vignette of Slaves hoeing cotton. Columbia to lower right and John C. Calhoun to lower right. Red "HUNDRED" overprint. Plain back. "CSA" in Script letters watermark. Frame line stops at "Except". For more detail relative to Cummings, see his manuscript issued note listed above. The note is obviously from a freshly ink plate, as the contrast, clarity and detail is amazing. All blue Cummings stamped notes I have seen are dated October 25, 1862 and come from the same pack of 100 notes, bearing serial numbers 273XX. The Cummings stamp is often seen so faded that it can barely be made out. This stamp is quite clear, legible and well above average. Trimmed a fraction tight at the upper right from the front, the note bears no folds and is as crisp and fresh as one could ever hope for. A wonderful, problem free example which possesses superb eye appeal. Uncirculated  $450  

Reverse
Pic 2

 1862  $100  T-41    CR-320A

 

 

CHOICE San Antonio, TX Issue.

    Manuscript.

Serial #22893. Dated September 29, 1862. Scroll two; vivid "CSA" in script letters watermark which is perfectly centered running from left to right from the face of the note. While an average San Antonio issued note may be acquired for less money, this example is by no means an average San Antonio, TX issued note. Original embossing and as crisp as new. One sheet crimp and a couple of very light folds. Superb eye appeal. The best manuscript issued San Antonio issued note I've seen in many, many years. In this instance; quality which is rarely, if ever seen. XF+/AU  $450  

Reverse
Pic 2

 1862  $100  T-41    CR-320C

 

 

 

 

 

 

      DOUBLE

 for TREASURER

Serial # 80175. Dated November 27, 1862. Scroll two. Frame line stops at "Except". "CSA" script letters watermark. "Treasurer" to lower left and "Treasurer" to lower right. A most appealing example of this rare T-41 for the collector who desires an example; although prefers a circulated and less expensive piece. Much cleaner than the scan indicates; with no problems of any kind. Four full frame lines. Exceptionally well inked and bearing bold signatures and serial numbers. The "Double for Treasurer" is a classic Confederate Treasury

note error and quite rare. If you seek a circulated example (which most all 320C's are) of this classic note, you need look no further than here. Totally free of circulation problems very often encountered at this grade level such as major soling, stains, spotting, foxing and the like. Splendid eye appeal. No pinholes, tears, splits or other problems and as stated, free of the usual problems most often seen upon any CSA note which actually circulated in commerce as much as this piece did.  In today's world, a note which would be graded Very Fine at most any grading service. This note could have been "pressed" and most folds you see would have disappeared. I do not press notes and find original pieces to be much more appealing; as do most collectors. A solid, no problem rarity which would make a wonderful addition to any collection.

CHOICE FINE+

 

 

MKT

GRADE:

 VF-25

 $975  

Reverse

 1862  $ 100  T-41    CR-322A 

       PF-28 RV

 

 

 

 

     PMG ABOUT           UNCIRCULATED                  55 EPQ                     

 

 

 

 

J WHATMAN  1862                  Small "T"                                        

Serial # 109036.Dated December 15, 1862. Plate "Z". Bold and very distinct J Whatman watermark. Very well trimmed with one distinct vertical fold to the right back couple with another small one in the same area. This variety is unlisted in Criswell, as he did not list those T-41's bearing the small "T" to the left of the central vignette. In his research, Ball did and Fricke continued this pattern. The "T" is somewhat light in the scan; although you may rest assured it is there and very easy to see in person. The note has earned PMG's EPQ or "Exceptional Paper Quality" designation which further adds to it's desirability and appeal. Rated an R-10 and scarce with the J Whatman watermark coupled with the "T". Of late, I have been required to pass upon most Whatman watermarked T-41's I have seen due to the poor visibility of the watermark. This note bears a vivid, distinct and very bold watermark - upon a rare variety as well. A lovely note which looks much better in person than in the scan.

     PMG ABOUT             UNCIRCULATED 55

           EPQ                    

 

 

Exceptional

Paper

Quality

 $525  

Reverse
Pic 2

 1863  $100  T-41   CR-325A

 

      MILITARY

       STAMP

 

 

H. McD. McElrath

   Major & QM

  Dept. of East TN

Serial # 156777. Dated January 6, 1863. A very presentable example of this 1863 military issued T-41. Attesting to the quality of this bank note paper, I cannot locate one single pinhole. A feat, given the notes grade and how many places it has seen. Nice trim and very well preserved for the grade. Some spotting; although nothing serious. A classic piece which reeks of history; as we can see the handwritten calculations for the only interest payment made on this note on January 1, 1865 in Augusta, GA.. First, the note was issued on the back as is represented by a large "Issued Treasurer's Office Richmond Feb. 10, 1863. However, the note was not officially issued until done so by McElrath on March 6, 1863. His stamp reads" ISSUED at KNOXVILLE by H. McD. McELRATH MA Jr. & Qr M MAR 6 1863". Below McElrath's stamp appears a blue interest paid stamp to Jan 1, 1865 at Augusta, the only time any interest was paid on this note. What I find most appealing and fascinating about this particular piece is that the interest calculations are set out by hand. We see that the Depositary Agent in Augusta first calculated 25 days for March of 1863. He then calculated the number of days for each month until January 1, 1865. Interestingly, we see that the depositary came up with 666 days from the date McElrath issued the note until it was presented for collection of interest in Augusta. He then multiplied the number of days by the interest (2 cents per day) and correctly came up with the total amount of interest due on the note, $13.32. I find such things intriguing and feel it adds to the "big picture" of what 7.30 notes were all about. A super piece of Americana and one that will not easily be duplicated.

Solid

 FINE

 $525  

Reverse
Pic 2

 1863  $100  T-41    CR-326A

 

 

 

 

 

 

   Scarcer 1865              Columbus, GA       

 Interest Paid Stamp

Serial # 154065. Dated January 3, 1863. Scroll two; plain paper, frame line stops at "except". Plain back. A most attractive example of the issue bearing superb eye appeal. Crackling crisp and fresh. Red trim alignment dot may be seen at the bottom middle from the front. While many would grade this note Choice Uncirculated, in my humble opinion the grade is Almost Uncirculated. A very faint horizontal "bend" may be seen if the note is held at the proper angle with the assistance of good lighting and a tiny "corner bump" is present at the upper left corner when viewed from the back. Many 7.30 note enthusiasts form "Interest Paid" locations as a basis for their collections. This is a very interesting and intriguing manner to collect these issues. At this point in time, it is also an affordable means to collect them, save for a few extremely scarce exceptions. This particular black "Interest Paid to 1st January 1865 At Columbus, GA." is not seen on a frequent basis; by any means. Simply a gorgeous 1863 issued T-41. Almost Uncirculated  $185  

Reverse
Pic 2

 1863  $100  T-41   CR-326A         

   

   MILITARY

Maj. C.S. Severson,

         a.q.m.

 

 

 

 

 

 

 

 

 

 CHIEF QM for

Gen. Nathan Bedford

    Forrest

Serial # 153729. Dated January 3, 1863. Scroll two; plain paper, frame line stops at "except". An extremely attractive and very well preserved T-41; especially due to it's issuance in the field by a Confederate officer. As clean as a pin, bright with great clarity and contrast. Crisp. The reverse is endorsed as follows: "Issued by Maj. C S Severson aqm 27 Mch 1863". While some of Severson's signatures are secretarial signed upon the $100 notes of 1862; the note here offered is absolutely guaranteed to be non-secretarial and Severson's actual signature. Currently, the cost of so called "common" Military issues is ridiculously low. When the current crop of available notes disappears (and they will), one will not be able to acquire a military issued T-39, 40 or 41 for any price now remotely attached to them; provided they can be found. That day will come sooner rather than later; as I have seen it occur with far too many other Confederate issues, over and over again. Severson was appointed November 1, 1861 as Maj. & QM, reporting to General Charles Clark in Mississippi. On October 2, 1862, Severson was ordered by Colonel O'Bannon, Chief QM of the Army of Tennessee to report to General N.B. Forrest at Murfreesboro. With Forrest he remained, serving in every campaign until he retired in late 1864. He was named Forrest's Chief Quartermaster on January 24, 1864. The above information is not the product of my research; and is but a tiny sample of the vast amount of data, images and documents contained within the pages of a magnificent new 900 page book to be released in July, 2016 written by Mr. Mike McNeil. It is readily apparent that Mr. McNeil spent thousands of hours working on this masterpiece. The book is simply incredible, bearing the title of "Confederate Quartermasters, Commissaries, and Agents". The above data relative to Major Severson is taken nearly word for word from Mr. McNeil's fantastic work. It weighs in at over 7 pounds and never before have I seen such a meticulous, useful and informative book. This is a book that one simply cannot do without. I will have more to say about this amazing work in the "Recent Additions and News" section of this site shortly. The book covers in great detail every officer known at the time the book went to press; their value and includes Civilian Issuers and locations of issue. The note itself is a very pleasing T-41 bearing bold, vivid signatures and serial numbers. Nor is the reverse endorsement blocked by any interest paid stamp. A wonderful piece.

VF+/XF  $625  

Reverse
Pic 2

 1863  $ 100  T-41    CR-327A     

  

 

 

 

 

        Military

 

 James Glover

   Capt. & AQM.

 

 

 

 

 

 

 

 

        Beautiful 

     Endorsement

Serial # 166907. Dated January 6, 1863. Scroll one. Frame line stops at "Except". "CSA" in block letters vertical watermark. The paper utilized in the printing of this note was manufactured in Great Britain and smuggled though the Union blockade of Southern ports. In all likelihood; this note, which bears a very high serial number for T-41 was some of the last of the vertical "CSA" block letter paper used by the Confederacy. The blockade runner "Bermuda" with a large cargo of this paper on board was seized attempting to run the Union blockade in October of 1862; likely depleting the remaining stock of this type of paper the Treasury Department had on hand. While there were 8 positions of "CSA" per sheet; no effort was made to see to it that the watermark appeared in it's entirety upon a given note when cutting a sheet from the ream for printing. Consequently, notes bearing the "CSA" vertical watermark wherein the watermark appears in it's entirety are seldom seen. While tempting to grade this note extremely fine, I think a crisp very fine. Slightly irregular trim at the bottom left front. Evidence of "counting" or "thumbing" and resulting smudging may be seen at the right, middle front, although does not carry through to the back and affects nothing...including the gorgeous endorsement of Captain Glover. Glover; of Virginia, spent the majority of his service during the Civil War in the East Tennessee areas of Knoxville and Bristol. East Tennessee was of vital importance to the Confederacy; as west Tennessee and middle Tennessee fell relatively early in the Civil War. By the winter of 1863, the capture of East Tennessee became Lincoln's primary objective, as Knoxville provided railroad connections, East, West and to Virginia to the Confederacy. Major Glover issued this note on January 26, 1863. A wonderful piece of American history bearing a gorgeous endorsement of a very busy and successful procurer of supplies for the Confederacy.

Very Fine+

 

 

 

 

MKT

Grade: XF-40

 $450  

Reverse
Pic 2

 1863  $100  T-41    CR-327A

 

 

     MILITARY

Maj. James Glover

 

 

PMG Very Fine 30

Serial # 166692. Dated January 6, 1863. Scroll one. Frame line stops at "Except". "CSA" in block letters vertical watermark. For those who prefer third party graded notes; another T-41 issued by Major James Glover, as above. In brown ink; issued January 28, 1863. No problems or issues noted upon the grading service holder. Cut a bit tight at the lower left. Graded one step above Very Fine 25 by the grading service, it is my humble opinion that the note is closer to Fine. No matter what the grade, a problem free, significant piece of Americana and pure Civil War history.

     PMG 

Very Fine 30

 

 

My

Grade:

Fine+

 $475  

Reverse
Pic 2

 1863  $100  T-41   CR-328A

 

 

 

 

  MILITARY ISSUE

    Ben F. Bomar

   Capt. .& AQM

 

 

 

 

PMG Very Fine 30

 

 

 

 

   28th Georgia

Serial # 161567. Dated January 5, 1863. Scroll two. Vertical "CSA" in block letters watermark. Lower frame line stops at "Except". Bomar was appointed on July 19, 1861 as Captain and AQM, reporting to the 28th Georgia Infantry. In February of 1863, he was ordered from Knoxville, TN to Atlanta Georgia. Space prohibits going into Bomar's entire history here; however, it is now possible to learn much more about Bomar via recent publications and the like. The endorsement reads: "Issued May 23, 1863 B. F. Bomar aqm". The note has been folded so as to fit into a leather wallet, a frequently seen occurrence upon notes of this era. Consequently, PMG denotes "Stains" upon the grading service holder. To me; the fact that this note was carried in someone's wallet 150+ years ago merely serves to add to it's appeal. A seldom seen sight may be observed upon viewing the left and right serial numbers. In all probability; a master clerk or the like spotted an error in the left serial number which had originally been done in red ink and corrected it in black ink! The ink is contemporary and a fascinating aspect of this most desirable military issue. As more and more collectors discover the allure and appeal of the 1862 $100 notes which were issued by a Confederate officer, the tougher they are to locate.

PMG Very

  Fine 30

 $595  

Reverse
Pic 2

 1862  $ 2  T-42   CR-335 Serial # 31216. Very bright, clean and well trimmed for the issue. The signatures and serial number are as vivid and bold as one could ever hope for with this small denomination note. Neat leather stain on back where note was likely folded and carried in a wallet during the Civil War. It certainly was not used much.

CHOICE

Fine.

MKT GRADE:

  VF+

 $165  

Reverse

 1862  $   2   T-42    CR-337         

 

 

 

 

 

 

   PMG CHOICE             ABOUT UNCIRCULATED 58 

 

 

 

 

 

 

 

    Bright White

 

Serial # 15868. Engraved date of June 2, 1862. "Third Series". Central vignette of "South slaying the Union". Judah F. Benjamin, CSA cabinet member in oval to upper left. Only 7 serial numbers away from the New 63 T-42 offered above; although both came from completely different places at completely different times. I have seen this phenomena with regard to high grade CSA type notes hold true on many occasions throughout the years. Perhaps a few notes were acquired by someone during the Civil War and not utilized at all. They were put away and the notes remain just as they were the day the individual acquired them at a local bank in 1862. Both notes are signed by M. Godwin (Miss Missouri) for Treasurer to the lower right and E. A. Adams (Mrs.) for Register to the lower left and came from the same pack of 100 notes.  Irregardless, an incredible T-42. The issue is most often located in terrible condition and if in collectible grade - toned. Seldom located bright white and this well trimmed. Razor sharp corners and any "bump" or the like which is responsible for the Choice AU 58 grade is not visible to me through the grading service holder. I am extremely particular relative to the notes I list here. I will not acquire or list just any AU-58; as many different degrees of quality may exist bearing that grade. This note will take your breath away when viewing it in person and is much, much more difficult to locate this nice than many think. Eye appeal beyond description.

PMG CHOICE         

   ABOUT UNCIRCULATED 58           

 $425  

Reverse

 1862  $  2  T-43    CR-338

 

 

 

 

 

 

 

 

 

 

PMG Very Fine 25

 

 

 

 

 

 

 

 

 

 

 Gorgeous Note

Serial # 59641. Printed date of June 2, 1862. Central vignette of "South slaying the Union". Actually from Greek mythology - Hercules liberating Prometheus by killing the vulture that was eating his liver. Judah F. Benjamin, CSA cabinet member in oval to upper left. "2" "TWO" green overprint. Plain back. As nice as this issue is encountered below the four to five figure range. One of the toughest notes in the series to locate well trimmed and lacking major problems. Most frequently encountered in good to very good. Bold, vivid signatures and serial number; quite a rare sight upon T-43. This low denomination note circulated heavily in commerce and was printed upon rather poor quality paper to begin with; thus few appealing survivors remain today. Amazingly free of stains, dirt, soiling and other distracting problems which seem to always plaque the T-43. Incredible trim for this issue; as the notes were printed so closely together upon the sheet, one could not get a knife blade between the uncut notes. The green overprint is stunning. Blanton Duncan, the printer and engraver of the note was told that he would not be paid for the green ink used in the overprint and quickly discontinued it's use; resulting in the much more numerous T-42; without the overprint. The horizontal lines contained within the "TWO" overprint amazingly remain; quite vividly. There existed no horizontal lines within the numerical "2" overprint. As clean, bright and fresh as I've seen a T-43 in years. The grading service holder mentions "Hinged". If so, it is barely noticeable, requiring a magnifying glass to observe; with no paper loss. The slight discoloration seen in the left area of the back is similar to the miniscule amount of contemporary ink observed at the far lower right reverse. If the note is "hinged" it is not the least bit distracting nor decreases the desirability of this bright, clean note. Those who have been seeking a T-43 will be keenly aware of what I speak. Very few T-43's will be located within a grading service holder without some type of "comment". At least in this case, it is of little or no significance. Many collectors; justifiably so, do not realize how rare this low denomination issue is at this grade level or above. An incredible T-43 and the very best I have observed in at least two decades.

PMG

Very Fine

   25

 

"Hinged"

 $795  

Reverse

 1862  $  2  T-43   CR-338

 

 

 SUPERB COLOR

Serial # 59187. An amazing T-43 and a water spot or two from a five figure note. These notes simply are not found as clean, bright and vivid as this example. Extremely well trimmed for the issue, dipping a bit at the right, front top. Not enough to detract from this note's beauty. T-43 was a crude design to begin with. Low quality paper and it's low denomination made it much more difficult for future collectors to acquire with any decent eye appeal. Advanced collectors know of what I speak. Believe it or not, a fraction; and I do mean a fraction away from a $10,000-$15,000 note. Rare this nice.    VF  $695  

Reverse

 1862  $1-2  T-42 to T-45

                     ILLUSTRATION

 

  THE PIC to the right is a classic illustration of just how close T-42 thru T-45 were printed together upon an uncut sheet. This made the trimming of the notes extremely difficult without completely eliminating a PORTION of the note above or below. As close as these were printed upon the uncut sheet; it is truly amazing that any of them survive with four frame lines. As Such, high grade, snow white notes bearing good trim are extremely scarce.

Closeness of Notes

Upon Uncut Sheet     

   


 1862  $  1  T-44   CR-341 Serial # 50799. A most appealing example and extremely difficult to locate in high grade. T-44 had just about everything you can think of working against it's survival rate in high grade. First: T-44 was a low denomination note. Thus, it circulated heavily in everyday commerce. Unlike the higher denominations of $100 or the like; most everyone used this one dollar note and used it a lot. Second: T-44 was printed upon very low quality paper primarily comprised of material from rags or wood pulp. Consequently, it is not uncommon to observe paper imperfections upon the highest grade examples. This paper did not wear well and when coupled with the fact that the note circulated heavily; the extreme difficulty in locating well preserved, problem free examples becomes readily apparent. Third: Paper was in short supply in the South; especially when  the Union Blockade became effective...just around the time this note was printed. In order to conserve paper, as many notes were printed upon a sheet of paper as possible. Nowhere is this more apparent than T-44; T-45; T-42 and T-43. I have had the privilege of handling a few uncut sheets of these over the years and can assure you; there is absolutely NO space between the uncut notes upon the printed sheets. 153 years ago; the Treasury Department of the Confederacy was much more concerned with getting these notes into circulation than with how well they were trimmed. Even now; if one were crazy enough to cut up a sheet of these (provided you could find one) it would be very difficult, if not impossible to properly trim one note without  ruining the note above, below or to the right or left. One could spend many hours trying to cut these correctly and not get them right...as there was just no room between the notes. Imagine trimming several sheets of these at a time 150++ years ago with large shears in some barn or building where the temperature was over 100 degrees. To locate an issue that bears even remotely decent trim is a feat today. The surviving high grade   examples are indeed a miracle of survival if you will. The note here offered is 99.99% fully framed. Further, it has no pinholes or "texture flicks" so seldom seen with this issue. One may notice a natural paper striation when viewed from the back. This is not distracting and is difficult to see when viewing the note in person. The note is well inked with bright, bold signatures and serial number. Superb contrast and eye appeal. No bleed through or other problems. To acquire an example better than this note, one will need an infinite amount of patience. A superb T-44.

UNC+

NEARLY
CHOICE

 $575  

Reverse

 1862  $  1  T-44 CR-341 Serial # 51386. Snow white with superb color and contrast. Excellent detail and a well above average example. The trim is not quite "all there", although there are no folds, no pinholes or other problems of any kind. See the above note for a lengthy discussion of survival, trim and other issues concerning T-44, T-45. etc.. A nice piece which saw no circulation. Crackling crisp and bright as new. A more than suitable T-44 which may be obtained without "breaking the bank". Darn near impossible to locate nowadays and undervalued in this writers opinion. UNC  $345  

Reverse

 1862  $  1  T-44 CR-341 Serial # 33235. Another very desirable example of this elusive issue in this state of preservation. No problems of any kind; such as pinholes, texture flicks; chinks or the like. The down stroke of the signers name from the note above may be seen to the left of plate number "4" and the right of the second plate number. This may also be seen from the back of the note; however you may rest assured there is no bleed or burn. Exceptionally nice trim for T-44. For a longer discussion of the frequently encountered problems associated with this issue; please see the note above (serial # 50799). Crisp, bright and fresh with plenty of detail. Nice legible signatures and serial number. Very difficult to locate this nice UNC  $365  

Reverse

 1862  $  1  T-45    CR-342         

 

 

 

   PMG CHOICE

VERY FINE 35 EPQ

 

 

 

   CHOICE NOTE      

 

 

  FULLY FRAMED

Serial # 26338. Printed date of June 2, 1862. Second Series. Central vignette of three masted steam paddle wheeler. Liberty with shield to left. Portrait of Lucy Holcombe Pickens within oval to lower right. Vivid Green "ONE" overprint. Plain back. A superb mid grade example of the issue which is quite conservatively graded. Without reservation, graded upon the collector oriented scale...not the market oriented scale. Very lightly toned; although not remotely to the degree that the very few higher grade examples I have seen are. Notes such as the T-42, 43, 44 and 45 are extremely scarce fully framed and in collectible condition. Superb eye appeal and completely problem free. This run of notes is seldom seen bearing the "EPQ" or "Exceptional Paper Quality" designation, as the paper utilized in printing the 42, 43, 44 and 45 was of relatively poor quality. Simply a gorgeous T-45 and highly desirable as such.

PMG CHOICE VERY   

   FINE 35  EPQ            

 

 

EXCEPTIONAL

PAPER

QUALITY   

 SOLD  

Reverse

 1862  $  1  T-45    CR-342A     

 

 

 

 

 

 

 

 

 

   PMG CHOICE       

UNCIRCULATED

      63 EPQ               

 

 

 

 

 

2nd Highest Graded;

      Far Nicer

   Than Highest       

 

 

 

 

 

 

 

 

 

 

 

 

 

 STUNNING NOTE

Serial # 44710. Printed date of June 2, 1862. First Series. Central vignette of three masted steam paddle wheeler. Liberty with shield to left. Portrait of Lucy Holcombe Pickens within oval to lower right. Mrs.. Pickens was the wife of the Governor of South Carolina who also served as the United States ambassador to Russia. Incredible, vivid green "1", ONE" overprint. The green overprint was quickly discontinued soon after Blanton Duncan learned that he would not be compensated for it. Plain back. As the T-45, T-44, T-43 and T-42 were the very first low denomination notes printed and issued by the Confederacy; they saw extremely heavy circulation. These $1 and $2 notes were very much needed in day to day commerce. Printed upon rather poor quality paper; the issue is most often encountered in very, very low grade; as they did not wear well during their heavy use. Nearly all original groups I have the pleasure of encountering are torn, tattered, soiled, stained and have pieces missing. Very scarce in grades of true very fine. The note here offered is simply beyond description. There is one note graded New 65; technically higher than the note here offered. While I had the opportunity to acquire that note; it was not remotely close to this piece relative to eye appeal and desirability. The 65 graded note was badly toned and the green overprint dull. There is absolutely nothing wrong with using a grading service number on a holder to determine if you might be interested in a given note. However; it is critical for one to remember that the grading services grade from a technical standpoint only. They do not consider eye appeal, color or the "overall" appearance of the note. As a collector, one must understand this aspect of grading and realize that there is more to the note than the number on the holder. Personally, I would not take two similar appearing, toned notes which graded 65 for the note here offered. The only difference in the two notes from a pure technical perspective is that the "65" graded note had perhaps 1/16th of an inch more paper at the far, top left margin. Hardly enough to make up for the brightness and blast green overprint you see here. Again, the paper was toned and the overprint dull. That note sold for just under $9,000. I simply cannot overemphasize how critical eye appeal is when it comes to the value of extremely rare notes such as this one when located in high grade. If you have the opportunity to view an AU-58 example of the T-45, of which a few exist, one can "bet the farm" it will be toned or dark. The key elements which separate this note from other high grade examples is it's brightness and trim. Rarely ever encountered this bright in most any grade; much less Choice Uncirculated. I have done nothing to enhance the brightness or color of this note (wouldn't know how anyway) and absolutely guarantee the note to be as bright as it appears in the scan. Simply unreal. This piece was obviously produced from a freshly inked plate. The green overprint is nothing short of amazing, as is the brightness of the note itself. In addition, this issue is well known for small body holes or "texture flicks" as I call them; wherein tiny flicks of light may be seen coming through the note, even in higher grade. None are present here. This note bears the "EPQ" or "Exceptional Paper Quality" designation; an unheard of moniker for this particular issue. Bright, fresh and fully framed. No pinholes or problems. I could write volumes with regard to this particular note; although must stop. Much deserved attention is paid to the rare Montgomery issues and other CSA notes printed in very limited quantity. However; notes such as the immaculate piece here offered will prove to be the tougher to locate. You may rest assured that the note you see here is many times more rare in this incredible state of preservation and with it's breathtaking eye appeal than any Montgomery or other great Confederate rarity. A truly amazing T-45, the likes of which I have never had the pleasure of offering. If you seek the best for a very high grade type set, it is not possible to go wrong here.

PMG CHOICE       

UNCIRCULATED

 63  EPQ

 

Exceptional

Paper

Quality

 $5650  

Reverse

 1862  $  1  CT-45  T-342     

             

 

     Contemporary                      Counterfeit         

 

   CHOICE NOTE

No serial #. First Series. Period before and after "First Series". Plate # 10. Printed signatures of R. F. Ball for Treasurer to lower right and L. M. Hunter for Register at lower left. Green "1" & "TWO" overprint. A pristine example of this contemporary counterfeit from the vast John J. Ford collection I acquired in 2005. No folds or problems of any kind. Choice.

GEM

UNCIRCULATED

 SOLD  

Reverse

 1862  $100  T-49  CR-347 Serial # 7968. No Series. Plain paper. A very presentable T-49 directly from a collection formed in 1933. There is a little piece of paper that is with this note indicating what the collector paid in 1933 which is included with the note. The paper says "Mrs. Pickens 1862" $1.75". A time machine would be nice about now! Cut a tick tight at the upper right from the front; otherwise no problems such as stains, spots, pinholes, etc. that one might expect to find at this grade level. A whole lot of T-49 for the money and as clean as a pin.   VF  $375  

Reverse

 1862  $100 T-49  CR-348

 

PMG XF-40

Serial # 6667. No series with "CSA" surrounded by wavy line watermark. Superb trim with excellent eye appeal. two extremely tiny margin chinks at top; which has to be the reason PMG only graded this note XF-40. Otherwise; no problems. Clean as a pin with superb color and contrast. One of my favorites; especially the back design. An opportunity to acquire a very, very nice T-49 at true bargain. Fully framed. A beauty.

  PMG

 XF-40

 $525  

Reverse
Pic 2

 1862  $100  T-49 CR-348

 

PMG XF-40

Serial # 108700. No series. "CSA" with wavy line watermark. Fully framed and a lot of note for the money. CU examples of T-49; when located, will cost at least $1200. The grading services are tough on Confederate Treasury notes at this grade level.

PMG XF

      40

 $550  

Reverse
Pic 2

 1862  $100  T-49  CR-348 Serial # 59236. A gorgeous note, acquired from a collection assembled in the 1950's. The original embossing is incredible and does not show up on the scan very well. Believe me; it's present and present plenty. The note has slight handling, although nothing out of the ordinary. There is a corner fold at the lower left; which in my opinion, occurred sometime after the note was acquired. The reason I say this is that the note is dead solid perfect. Perfect trim, centering upon the back; well inked, watermark is in dead center and when compared to other notes that came from this collection, it is not typical. I believe the note was bumped or dropped somewhere in time. Were this fold(s) not present at the lower left corner from the back; you would easily be looking at a $1200-$1400 note. A beauty.

CHOICE

     AU

 $850  

Reverse

 1862  $100  T-49  CR-348 Serial # 67877. No Series. "CSA" surrounded by wavy line watermark. Jumbo margins all the way around. Crackling crisp and fresh; I don't think this note saw any circulation. Many notes were mishandled in the near 150 years after they were printed. This note appears to be no exception. A couple of corner folds and three very light body folds that distract very little. Superb clarity and contrast. If you are looking for a very, very nice mid-grade T-49; here it is. No pinholes or other problems. Original embossing throughout.  VF+/XF  $515  

Reverse

 1862  $100  T-49    CR-348         

 

 

 

 

 

    PMG CHOICE

    VERY FINE 35

Serial # 28099. No series. "CSA" surrounded by wavy line watermark. It is certainly obvious why this note was graded "Choice". Superb trim, well inked and superb eye appeal. I have seen graded notes housed in XF-40 to 45 holders that were not this nice. The back is perfectly centered. Simply amazing clarity and contrast; with each and every detail bright, vivid and bold. It truly is becoming very difficult to locate attractive upper mid grade notes which are as clean and bright as this one. In my humble opinion, under graded....which is unusual. It has been my experience with graded notes at this level, the grading services tend to over grade the note. Not so here.

PMG CHOICE

VERY FINE 35

 $450  

Reverse

 1862  $ 50  T-50   CR-350

     COC

 RARE VARIETY

Serial # 20746. "3RD" Series. Keatinge & Ball, Richmond, VA above fundable clause at far left front. No watermark; plain paper. A rare version of the T-50 and rated a rarity 10. Gorgeous, deep emerald green color graces this near gem example. Razor sharp corners. Were the note not coc; it would hands down be at the top of the condition census for the variety. Just an incredible T-50 and a very rare one at that.  Uncirculated

   COC

 $495  

Reverse

 1862  $ 50  T-50   CR-351

        C/C

Serial # 87341. "3RD" Series. Keatinge & Ball, Richmond, VA above fundable clause at far left front. "CSA" block letters surrounded by wavy borderline watermark. Very lightly cut cancelled possessing splendid eye appeal. Extraordinary trim and as clean as they come. Although circulated, as crisp and fresh as an uncirculated piece. The note likely saw very little circulation before cancellation; as is the case with several of the cut cancelled T-50's here listed. A small edge "divot" is noted at the upper right front, outside of the design. A lot of "note" for the money.

  F/VF

cut/cancelled

 $275  

Reverse

 1862  $ 50  T-50   CR-354

    C/C

Serial # 4134. Engravers name below Fundable clause. CSA block letters watermark. Well above average trim for the issue with superb eye appeal. Very appealing dark, emerald green color. Crackling crisp and fresh. Again, another very affordable high grade T-50 at a fraction of the cost of an non cancelled example.      XF

cut/cancelled.

 $395  

Reverse

 1862  $50  T-50   CR-355

      C/C

Serial # 87349. "3RD" Series. Keatinge & Ball, Richmond, VA below fundable clause at far left front. "CSA" block letters surrounded by wavy borderline watermark. As well inked as any T-50 one will ever see; with the resulting clarity, contrast and color being superb. Spotless, bright and crisp. Very lightly cut cancelled. A gorgeous example of the issue.

CHOICE

    VF+

cut/cancelled

MKT:

XF-40

 $350  

Reverse

 1862  $ 50  T-50   CR-355

      C/C

Serial # 98838. "3RD" Series. Keatinge & Ball, Richmond, VA below fundable clause at far left front. "CSA" block letters surrounded by wavy borderline watermark. Extremely well inked and a most attractive T-50. A contemporary ink spot is noted. In reality, such spots are not all that uncommon wherein ink bottles abounded when the notes were signed and numbered while still in sheet form. Quite crisp with bold, vivid signatures and serial numbers.

    VF+

cut/cancelled

 $295  

Reverse

 1862  $ 50  T-50   CR-358 Serial # 100942.  "3D" Series. Keatinge & Ball, Columbia, SC above fundable clause at left. "CSA" surrounded by wavy borderline watermark. Immaculate color. Incredibly clean, with not one blemish. Alignment lines present, front and back. Superb contrast and clarity coupled with choice trim provide remarkable eye appeal. Not cut cancelled. Notes like this are becoming impossible to find. In the many years I have been engaged in dealing in Confederate Treasury notes; never have I seen it like it is today. Quality notes bearing no problems and good eye appeal are extremely difficult if not impossible to locate. There was once a time when it was never a problem to locate a CH CU T-50. I do believe those days are gone and I expect notes like this one to soon become a thing of the past; or priced so high that today's prices seem ridiculously cheap. The same will hold true with many, many other issues as well. Irregardless, a gorgeous T-50 and sure to please.

CHOICE

    XF

 $750  

Reverse

 1862  $ 50  T-50    CR-360         

 

 

 

 

 PCGS CHOICE

 ABOUT NEW 58

       PPQ                    

 

 

 

 

  CHOICE NOTE

 

 

 

 

   Fully Framed

Serial # 101256. Plate Ax. Printed date of "Dec 2, 1862". "3D" Series. Keatinge & Ball, Columbia, SC above fundable clause at left. "CSA" in block letters surrounded by wavy borderline watermark. Two flourishes below "de" in "Confederate". Central portrait of Jefferson Davis, President of the Confederate States of America. Green overprint. Fancy, ornate green reverse. Simply an amazing example of the issue bearing incredible margins. A very, very faint corner fold which is visible with some searching and magnification is located at the lower left margin from the back and is all that prevents this note from a 65 or 66 grade. An old Bradbeer number (1915) appears in pencil upon the back and affects nothing. As may be seen; the Bradbeer number is "B 360" which illustrates that Criswell's initial 1957 book utilized much of William West Bradbeer's much earlier work. Clean, bright and well inked with excellent color and clarity. Superb margins all the way around the note. This is indeed a rare occurrence upon those CSA issues which do not have frame lines, such as this note (T-50), T-57, 66 & T-64. Not cut cancelled and choice. One cannot look in a book under "graded notes" and automatically assume that none will be choice, superb notes. This one certainly is. One could look though hundreds upon hundreds of T-50's and never locate a note with margins and eye appeal such as this piece. Notes of this caliber are indeed becoming near impossible to locate. It seems there is always a slight problem somewhere; although not so here. Immaculate and a truly choice T-50 which is a breath way from a $3,000 piece..

PCGS CHOICE

ABOUT NEW 58  PPQ

 

PREMIUM

PAPER

QUALITY

 $1175  

Reverse

 1862  $ 50  T-50   CR-362

      C/C

Serial # 43910. "3D" Series. Keatinge & Ball, Columbia, SC above fundable clause at left. "CSA" surrounded by wavy borderline watermark. Three flourishes below "de" in "Confederate". Far above average trim with wonderful eye appeal. I have looked at the few dark specks near the face of Jefferson Davis under extremely high magnification. It appears that these "specks" were transferred from the face plate, as there are no foreign substances or dirt on the front of the note. Obviously, the back plate did not occasion any specks or spots. Whatever we see here is "as made" and not distracting upon viewing the actual note. In fact, I did not notice this until the note was scanned. Looking at a note in a good scan will sometimes make it look better and sometimes make it look worse. A very faint, tiny corner fold may be seen at the upper left corner from the back under high magnification. Whatever the case may be, a gorgeous T-50 and as fresh as the day it was printed.

   AU

cut/cancelled

 $425  

Reverse

 1862  $  20  T-51    CR-366                 

 

 

 

 

 

 

 

 

 

 

   PCGS Extremely Fine             45

 

 

 

 

 

 

       Woefully

   Under Graded

       

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Snow White/Superb Trim

 

Serial # 40409. Plate "E". Printed date of December 2, 1862. 1st Series. Central vignette of Tennessee State Capital building at Nashville. Portrait of Alexander H. Stephens, Vice President of the Confederate States of America within oval to lower right. Blue ornate"20", "XX", "20" back. The blue printing upon the back is near perfectly centered. Although not a rare note, the T-51 is an extremely scarce note to locate in grades above true very fine. Very few T-51's of this caliber survived the last 150+ years. There do exist perhaps six to eight T-51's housed in AU-55-58 grading service holders; however, none I have seen come remotely close to the eye appeal and trim this note bears. I presume the question the collector must ask is this. Do I prefer a T-51 which bears an assigned technical grade/number of AU-58 upon a grading service holder which has one entire margin of the note trimmed away, or a note such as that offered here which bears all margins and eye appeal beyond description? In my humble opinion, far too much emphasis is placed upon what number some unknown person at the grading service decides a note should bear. Remember, not all graded notes of the same type and same assigned grade appear the same. Some will possess more folds than others of the exact same grade. This is due to the fact that different people at the grading services grade any given note at any given time. With very strong magnification and excellent light, a tiny, tiny corner bump may be seen at the lower right back. Otherwise, razor sharp corners all the way around. Further, a very light fold runs down the note vertically and is just visible from the right back. Likely the result of counting. If there existed any other light folds or bends; I would not hesitate to call them out. The note grades Choice Almost Uncirculated not Extremely Fine 45. In reality, it matters little and as stated, T-51 is extremely rare above the grade of true very fine. Clean, bright, and well inked; thus being all one could ask for when it comes to this very tough issue on the rare occasion it is located in high grade. The note here offered bears trim as superb as will likely be encountered upon the issue. Incredible eye appeal. I respectfully disagree with the assigned grade. Irregardless, T-51's of this caliber are indeed scarce and the opportunity to acquire one every bit as elusive. Further, a T-51 which any collector, anywhere would be proud to own.

PCGS EXTREMELY

FINE 45                         

 

 

 

 

 UNDER GRADED     

 

 

 

 

 

 

MY GRADE:      

 

    CHOICE ALMOST   

     UNCIRCULATED   

 $695  

Reverse

 1862  $  10  T-52    CR-369         

 

 

 

 

 

 

 

     PMG CHOICE

UNCIRCULATED 64

 

 

 

 

 

 

 

 

 

  CHOICE NOTE

Serial # 69081. Printed date of December 2, 1862. Printed upon pink paper. Central vignette of the South Carolina State Capitol at Columbia, SC. Bust of R. M. T. Hunter; Member of the United State House & Senate (1837-61) from Virginia and Confederate Secretary of War and Senator for 1862-1865 t lower right. Ornate blue back. An issue that was printed in large numbers; thereby leading one to think that many would be available at this grade level. As with many so called "common" notes; nothing could be further from the truth. As with all 1862 pink notes, T-52 is near impossible to locate fully framed and choice. One could look through thousands of uncirculated T-52's and fail to locate an example remotely close to the grade of this piece. Believe me, I have. Extremely scarce and many multiples tougher than one would think to locate in this grade. Amazingly clean, bright and fresh. Superb eye appeal and a note one could never go wrong with. I do not look for the number of these in grading service holders at 64 or more to increase over time. What may seem like a somewhat high price now will likely be tomorrow's bargain.....it usually is. Simply magnificent. If you are looking for the very best; herein lies the opportunity to acquire an example that would never require upgrading. Far nicer than the few T-52's I have seen graded at this level or the one or two I have seen at 65. Not all graded notes are the same; even though they may bear the same number. This piece stands apart from those of a higher assigned grade.

PMG CHOICE

UNCIRCULATED 64

 $575  

Reverse

 1862  $ 10  T-52    CR-371

 

 

 

 

      2-3 KNOWN

 

 

 

 

 

 

 

Large Broken Piece

Next to Right plate

         "H"

  Solid Triangle

        Shape             

 

 

 

 

 

 

 

   Very Desirable

       Error

Serial # 60351. Printed date of September 2, 1862. Central vignette of South Carolina State Capital Building at Columbia. Portrait of R. M. T. Hunter, United States House of Representative and U.S. Senator from Virginia, 1837-61. Confederate Secretary of State, 1861-62 and CSA Senator, 1862-65 within oval to lower right. 2 Series. Blue, ornate reverse with denomination. Punch out cancelled. Even though punch out cancelled; an exceptionally attractive T-52. Fully framed; a true exception for the issue. Further, very well dyed with vivid "pinkish" color. Fully inked bearing superb clarity and contrast. Extraordinarily rare. At the right, upper plate letter "H" is vividly observed a piece printed upon the note which looks like an arrow. Ball and Fricke reported this variety some years ago; and they are extremely rare. See Fricke's 2014 "Collecting Paper Money", Figure 52-3. While I cannot be certain, as I don't recall - the note there illustrated may well be this note, as I furnished Mr. Fricke some scans of a few interesting pieces. The "arrow" does not appear to be a foreign substance which was "stuck" to the plate and subsequently transferred to the note during the printing process. It actually appears to have been engraved into the plate itself. This blatant anomaly was likely detected right away and the plate "repolished; thus eliminating the arrow altogether. The note itself is crackling crisp and new. It could have been pulled due to the defect (arrow) and transferred to the Treasurer's office at Richmond for accounting purposes and there punch out cancelled. It could also have been printed for normal release just as the issue was about to be retired and cancelled. I have observed this interesting scenario with T-58, T-59 and T-60. Simply a fascinating error. While I do not make a concerted effort to handle the various printing errors such as an extra dot here of lack of a flourish there; I do get quite enthused upon observing such a striking, vivid piece as rare as this one. The odds of locating another are near zero; as it to date, at most three are known. No folds and not one single pinhole. While I do not think it a fold, a very light, tiny corner "bump" exists at the upper left when viewing the note from the back. Thus, we shall grade the note Choice AU-poc. A true price for the variety and error collector....or for any collector of CSA Treasury notes.

CHOICE AU+++

   POC

 $275  

Reverse
Pic 2

 1862  $  2  T-54    CR-391       

 

 

 

 

 

 

   PMG CHOICE

 UNCIRCULATED   

      64  EPQ          

 

 

 

 

 FULLY FRAMED

 

 

 

 

   CHOICE NOTE

Serial # 36575. Plate "G". Printed date of December 2, 1862. Portrait of Judah Benjamin, former United States Senator from Louisiana and Confederate Secretary of State, Attorney General and Secretary of War in oval to lower right. Plain back. Printed upon a pinkish-purple paper which was very prone to ink burn through at the signatures. While the T-54 is not a rare note, leading one to think it would not be difficult to locate a super high grade example; nothing could be further from the truth when it comes to a note which passes the muster of one of the major grading services. Many multiples tougher than one might think to locate in a high end grading service holder, as most all have some sort of minor issue which prevents it. Immaculate eye appeal and extremely tough to locate at this grade within a holder. The note has also earned the EPQ or Exceptional Paper Quality moniker from PMG; not often seen with this type of paper. Simply an amazing T-54 and worth much more than one would think. Further, this note is a choice note, bearing qualities which set it apart from other T-54's of the same grade. It is not trimmed into the frame line and is completely free of other minor issues that are tolerated at the 64 level. Totally in a league of it's own. Remember, the grading services grade from a technical standpoint only. If you desire the very best; herein lies a key opportunity to acquire it. Quality of this nature is scarce and always in demand.

    PMG CHOICE

 UNCIRCULATED 64

          EPQ                  

 

 

EXCEPTIONAL

PAPER

QUALITY

 

 

 CHOICE NOTE

 $550  

Reverse

 1862  $ 1  T-55   CR-397 Serial # 17045. Portrait of Clement C. Clay in center. Plain back. No folds, pinholes or other problems plague this immaculate, pink paper example. I acquired this note as part of lot 1794 in Stacks sale of the Joseph C. Mitchelson Collection in 1998. Mitchelson's collection was formed in the 1880's and was de-accessioned by the Connecticut Museum of History.  UNC+  $365  

Reverse

 1862  $ 1  T-55   CR-397 Serial # 17047. Another note from the fabulous Mitchelson collection and from the same original pack as the note above. This sale was held in New York City in April of 1998, wherein I acquired this example. Splendid and no problems.  UNC+  $350  

Reverse

 1862  $  1  T-55    CR-398         

 

 

 

  PMG CHOICE

 UNCIRCULATED   

     64  EPQ

 

 

 Gorgeous Note

 

 

 

Very tough this           nice             

Serial # 82047. Printed date of December 2, 1862. Plate letter "D". Periods on right side of each plate letter. Printed on pink paper. Portrait of Clement C. Clay, United States Senator from Alabama 1843-1861, Confederate Senator from Alabama, 1862-64 and agent in Canada, 1864-65 in center. Plain back. Extremely well inked with resulting superb clarity, contrast and eye appeal. Near impossible to locate which will make the grade of Choice Uncirculated 64 by one of the grading services; as there always seems to be some minor trim issue or light bend. Not so here. This note was once part of the famous Joseph C. Mitchelson collection, formed in the late 1880's. I originally acquired this note at the actual 1998 sale of the Mitchelson collection in NYC. I sold it many years ago and have recently reacquired it. A magnificent example of the issue and a note which would be most difficult to improve upon. Much, much tougher to locate this nice than one would think and a note which would gracefully fit into the very finest type set.

PMG CHIOCE

UNCIRCULATED 64

     EPQ

 $450  

Reverse


 

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