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Confederate States of America - T2 1861 $500 Montgomery Issue PF-1, Cr. 2. PCGS Very Fine 35PPQ.. ...
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Description
Impressive T2 $500 Montgomery Note
Confederate States of America - T2 1861 $500 Montgomery Issue PF-1, Cr. 2. PCGS Very Fine 35PPQ.As with the $1000, only 607 notes printed, and approximately 120 exist today. This Newman-Green $500 Montgomery is another impressive example boasting tremendous eye appeal. Like the others notes from the series, this was an interest-bearing instrument paying "five cents per day," only up to "Twelve Months After Date." The $500 is arguably the most pleasing design, with inspired vignettes by the National Bank Note Company. At top center is the classic vignette, The Crossing, attributed to James D. Smillie, but not verified. A train crosses a stone bridge in the background, while a man on horseback drives cattle down a hill to the stream. Another worker, standing in the water and holding a cattle prod, finishes rolling up his pant legs. The vignette appears on several Obsolete banknotes from the period. The full green tinting is different on this note, with micro-numerals on three sides of the frame and patent dates and imprint information along the bottom. Both ends have color micro-numeral ovals surrounding vignettes and dies. At the lower left in the tint is a dramatic depiction of Agriculture seated on a barrel. The upper corners counters composed of overlapping rounded edge hexagons, with an outlined numeral in center and textual denomination arcing above. The left shows a "D" and the right shows a "500." The title begins at the inside edge of the left panel and crosses into the right panel. Hand dated except for the engraved "18" and lines for two signatures across, Alexander B. Clitherall as register and E.C. Elmore as treasurer. Plate letter A. Machine numeral 72. The endorsement on the back is similar to that on the T1 previous: "New Orleans June 3rd, 1861 / [signed] A. J. Guirot / Assis. Treas. CS" accomplished in fine script. For many decades, collectors and scholars argued which Confederate type was the rarest. The current census records 137 notes in all grades. However, according to J. Wayne Hilton's detailed reference, he considers the T2 $500 as the rarest type based on auction appearances. With that in mind, perhaps the type has been underappreciated in recent decades. This is a gorgeous PPQ note. The color tinting and dark inked contrast are very attractive. The complete margins on all sides include three that are broad, with only the left close to the printed portion. This note apparently has never been publicly auctioned. However, it has been included on the Montgomery census, compiled by several scholars and dealers, for decades. Now, this impressive $500 Montgomery will become an esteemed member of a new auspicious collection.
Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp & Coin Co.; Eric P. Newman; Eric P. Newman Numismatic Education Society.
Auction Info
2015 October 21 - 24 Eric P. Newman Collection Part VII Currency Signature Auction - Dallas #3539 (go to Auction Home page)
Auction Dates
October, 2015
21st-24th
Wednesday-Saturday
Bids + Registered Phone Bidders: 14
Lot Tracking Activity: N/A
Page Views: 2,702
Buyer's Premium per Lot:
17.5% of the successful bid per lot.
Truth Seeker: The Life of Eric P. Newman (softcover)
A powerful and intimidating dealer of the 1960s, backed by important colleagues, was accused of selling fraudulent gold coins and ingots to unsuspecting numismatists. Who would go up against a man like that and, over the course of decades, prove the fraud? Who would expose a widely respected scholar as a thief, then doggedly pursue recovery of coins that the scholar had stolen from an embarrassed numismatic organization, all over the objections of influential collectors who had bought coins with clouded titles? Eric P. Newman would - and did. Reserve your copy today.
A powerful and intimidating dealer of the 1960s, backed by important colleagues, was accused of selling fraudulent gold coins and ingots to unsuspecting numismatists. Who would go up against a man like that and, over the course of decades, prove the fraud? Who would expose a widely respected scholar as a thief, then doggedly pursue recovery of coins that the scholar had stolen from an embarrassed numismatic organization, all over the objections of influential collectors who had bought coins with clouded titles? Eric P. Newman would - and did. Reserve your copy today.
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