LOT #95359 |
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Columbia, SC- Keatinge & Ball $1 Mar. 15, 1864 Sheheen 933 PMG Very Fine 20.. ...
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Sold on Oct 27, 2024 for:
$192.00
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Description
Columbia, SC- Keatinge & Ball $1 Mar. 15, 1864 Sheheen 933 PMG Very Fine 20.Recent research by Charles Derby has uncovered the likely reason why the firm issued these notes, payable in Confederate currency. The notes were paid out to employees at the time the exchange process for converting "old" Confederate treasury notes into February 17, 1864 series "new" treasury notes was underway. If paid in "old" notes, the employees would suffer a major loss due the 33% devaluation rate applied to the conversion. Instead, the employees were paid in company scrip that could later be converted to the new 1864 notes when available on a dollar for dollar basis. After the war, the notes were redeemed by Keatinge & Ball for 60ยข on the dollar for sixty days beginning September 28, 1865. Featuring Ceres standing in a niche at left, the note has a very small missing corner tip at upper left. Always popular as an issue of a security printer.
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Auction Info
2024 October 27 Fall U.S. Currency Obsolete Banknotes Showcase Auction #62363 (go to Auction Home page)
Auction Dates
October, 2024
27th
Sunday
Internet/Mail Bids: 3
Lot Tracking Activity: N/A
Page Views: 113
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