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Agent Endorsement "F. Hodges [?], Agent" T2 $500 1861 PF-1 Cr. 2 PMG Choice Very Fine 35.. ...
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Description
Vibrant T2 $500 Treasury Note
Agent Endorsement "F. Hodges [?], Agent" T2 $500 1861 PF-1 Cr. 2
PMG Choice Very Fine 35.A total of 607 T2 $500 Treasury Notes were issued between April 8 and July 23, 1861. When these notes were originally authorized, the common wisdom was that the war would be a short one, with little need for circulating notes over and above the existing commercial bank issues. It quickly became apparent that this was not going to be the case and the focus quickly turned to lower denominations intended not as investment vehicles but rather as circulating notes to facilitate commerce. In fact, the $500 denomination was not seen again until early 1864 when it was reintroduced due to the impact of inflation on the ever-diminishing purchasing power of the Confederate dollar.
The $500 design features two pre-war vignettes used by National Bank Note Co. The Crossing, a detailed vignette of a passenger train crossing a bridge with a herd of cattle being driven to a stream in the foreground is the focal point of the design. A smaller vignette of Ceres / Agriculture reclining is at bottom left and vivid green security panels contain denominational medallions to each side. The back is endorsed July 24, 1861 / F. Hodges / agent. One possible attribution is Fleming Hodges, an Alabama Major serving in the Quartermaster Department according to Wyllie, but further research is needed to either confirm or refute this possible attribution. The uncanceled note features bright paper, vibrant colors, and decent margins, with PMG mentioning a minor repair that is not blatantly obvious through the holder. This note's grade ties it with two other examples, with only five notes earning higher grades out of the forty examples presently recorded in the PMG Population Report for T2 $500 notes. Overall, a truly attractive and compelling note with a bit of Civil War history to be uncovered regarding the endorsement that is sure to attract active bidder interest tonight. Ex: John L. Roper and George B. Tremmel Collections.
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Auction Info
2026 April 28 - May 1 CSNS U.S. Currency Signature® Auction #3601 (go to Auction Home page)
Auction Dates
Apr-May, 2026
28th-1st
Tuesday-Friday
Bids + Registered Phone Bidders: 11
Lot Tracking Activity: N/A
Page Views: 677
Buyer's Premium per Lot:
22% of the successful bid per lot.
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