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    Description

    Prized T1 $1000

    T1 $1,000 1861 PF-1 Cr. 1.
    In early March 1861, the Confederate Department of the Treasury placed an order through its agent, G.B. Lamar, in New York with the ABNCo for Treasury Notes, bonds, and certificates of stock. Although a state of war did not technically exist, all of the parties involved understood the critical nature of the required delivery dates. ABNCo handed off the Treasury Note part of the order to National Bank Note Co. who, in turn, expedited the design process by using available vignettes to create the plates required. In this case, they chose Andrew Jackson and John C. Calhoun who, in life, might not have been thrilled to be seen in each other's company on this note. Calhoun was a strong adherent of states' rights while Jackson was an equally fervent upholder of the concept of a united country. 607 four-subject sheets of $50-$100-$500-$1000 notes were received in Montgomery, AL on or about April 2, 1861, just ten days before the commencement of hostilities. The Montgomery notes were probably used not as circulating notes but rather as smaller-denomination investments for individual investors who would be attracted by the 3.65% interest rate that these notes earned. A $1000 denomination certainly had no useful place in day-to-day commerce. PCGS grades this example Apparent Very Fine 30 due to two hammer cancels and some minute rust specks. This note is fully margined on bright paper and is well inked. It will be a prized addition for almost any Confederate collection.
    From The Matthew D. Webber Confederate Collection


    View all of [The Matthew D. Webber Confederate Collection ]

    Auction Info

    Auction Dates
    January, 2016
    6th-12th Wednesday-Tuesday
    Bids + Registered Phone Bidders: 4
    Lot Tracking Activity: N/A
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