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T3 $100 1861 Cr. 3.. ...
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Sold on Aug 3, 2017 for:
$21,150.00
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Description
Well Embossed $100 Montgomery
T3 $100 1861 Cr. 3.A central vignette of a train sitting idle in station was used for the $100 Montgomery Issue. It is one of the largest railway vignettes used in currency, occupying nearly half the note. It's landscape is large enough that it is extremely ornate, down to the agricultural goods and passengers being loaded from both sides. The railroads in the Confederate States were a vital link to bring agricultural goods North and to the sea for export. Some 9,000 miles of railway were privately run until 1863 when legislation was passed authorizing the "impressment" of the railways in aide of the war effort. Showcasing railways or trains on currency was an illustration of economic prowess.
Hilton acquired this note from R.M. Smythe & Co. at the 1998 Memphis Auction. It realized an astounding $15,400, the most any circulated piece would command at auction in that decade. In that auction, it was part of the Arnold Cowan Collection with a description hailing its attributes as "crisp, bright, vivid with close although complete margins." At center is a light bend, with some teller handling at right. The endorsement on back reads, "Office of Conf. Stat. Lynchburg, May 20, 1861 This day paid out by T(homas) G. Williams Capt. & C[ommissary] S[ubsistence]." The military endorsement adds to the note's eye appeal, one that easily places it in the top notes for appearance and solidly in the condition census for technical grade. PCGS assigns a grade of Choice About New 55, with mention of small repairs in the lower left corner.
Selections From The J. Wayne Hilton Confederate Currency Collection
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Auction Info
2017 August 3 ANA Currency Signature Auction - Denver #3556 (go to Auction Home page)
Auction Dates
August, 2017
3rd
Thursday
Bids + Registered Phone Bidders: 8
Lot Tracking Activity: N/A
Page Views: 1,636
Buyer's Premium per Lot:
17.5% of the successful bid per lot.
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