LOT #83130 |
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Columbia, SC- Keatinge & Ball 50¢; $2 Mar. 15, 1864 Very Fine; Very Good-Fine.. ... (Total: 2 notes)
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Sold on Aug 19, 2025 for:
$240.00
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Description
Columbia, SC- Keatinge & Ball 50¢; $2 Mar. 15, 1864 Very Fine; Very Good-Fine.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 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 60¢ on the dollar for sixty days beginning September 28, 1865. These notes are always popular as they are the issues of the primary Confederate currency printer during the Civil War, Both notes are fully issued and free of repairs, with the $2 having a pinhole and a couple of minor rust spots, most noticeable from the back. (Total: 2 notes)
Auction Info
Tuesday US Currency Select Auction #142534 (go to Auction Home page)
Auction Dates
August, 2025
19th
Tuesday
Internet/Mail Bids: 8
Lot Tracking Activity: N/A
Page Views: 68
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