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    Bright and Attractive $1000 Montgomery

    T1 $1,000 1861 Cr. 1.
    The $1000 Montgomery Treasury Note is one of the iconic notes of the Confederacy, with this specimen being one of approximately 130 known surviving examples based on lists of recorded serial numbers kept by various collectors and dealers. The survival rate is fairly high, at around 22%. This is because the Montgomery notes were never really envisioned as circulating currency but rather as smaller denomination fiscal instruments aimed at individual investors who would be attracted by the 3.65% interest rate. The Montgomery notes were ordered in early March 1861, mere weeks before hostilities commenced. The original contract, which included coupon bonds, transferable certificates of stock, and Treasury Notes, was let with American Bank Note Company who, in turn, turned the Treasury Note portion of the order over to National Bank Note Company. National was under intense pressure to design, produce, and deliver these notes quickly and used stock pre-war vignettes as one means of compressing the production schedule. The portraits of John C. Calhoun and Andrew Jackson, for example, are found on numerous antebellum issues from both the North and South. The two in life were often at odds, with Jackson being a fervent anti-secessionist while Calhoun was an equally ardent supporter of states' rights.
    This note was included in Hilton's collection for the same reason he selected all of his note, stunning eye appeal for the grade and type. The paper is fresh with a creamy original tone, one that is unhindered by age. While there are some closed cancellations, minor restorations and some mounting remnants on back, the visual impact of this important Confederate rarity remains unchanged. It bears the serial number 152 and edges out Hilton's last T1 offering, a PCGS Apparent Very Fine 30 that realized $29,375. Expect this attractive PCGS Apparent Very Fine 35 to realize at least...
    Selections From The J. Wayne Hilton Confederate Currency Collection




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    Auction Dates
    August, 2016
    11th Thursday
    Bids + Registered Phone Bidders: 6
    Lot Tracking Activity: N/A
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