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    1861 Montgomery $1,000

    T1 $1,000 1861 PF-1 Cr. 1 PCGS Banknote Very Fine 25 Details.
    The iconic $1000 Montgomery issue is unquestionably one of the keys to the Confederate note series. One of Confederate Secretary of the Treasury Memminger's first actions was to have Treasury Notes and other fiscal instruments printed. After weighing his options, Memminger quickly settled on using G.B. Lamar, a Savannah banker living and working in New York City, as an agent to have notes printed by ABNCo. Things moved apace due to the impending beginning of hostilities, with ABNCo subcontracting out the treasury notes to rival National Bank Note Company (NBNCo) in order to expedite deliveries of the entire order that also included bonds and other fiscal documents. For its part, NBNCo used only pre-war vignettes, portraits, and stock design elements in order to drastically reduce the order's lead time. The $1000 note, for example, used pre-war portraits of John C. Calhoun and President Andrew Jackson. Given their generally opposing views on states' rights, this was an interesting combination to use. In short order, 607 four subject sheets of $50, $100, $500, and $1000 notes were designed, printed, and shipped in only a few weeks with the first notes from the shipment actually being issued on April 5, 1861, a week before the war started. A second shipment of 1000 two subject sheets of $50 and $100 notes barely escaped capture by northern authorities who then put a permanent end to ABNCo and NBNCo supplying any further notes to the Confederacy. The $1000 note was never envisioned as serving a real need in day-to-day commerce but rather was viewed as a 3.65% bearer instrument that would be held as an investment. $1000s were issued sparingly, with this low serial number (99) not being issued until May 28, 1861.

    Today, we are aware of around 137 surviving examples of the $1000. This example has obviously seen only limited circulation before being hammer canceled, with no other glaring condition impairments. PCGS Banknote indicates a sealed hammer cancel and several trivial short edge splits.

    Auction Info

    Auction Dates
    April, 2021
    21st-23rd Wednesday-Friday
    Bids + Registered Phone Bidders: 17
    Lot Tracking Activity: N/A
    Page Views: 687

    Buyer's Premium per Lot:
    20% of the successful bid (minimum $19) per lot.

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