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T15 $50 1861 Cr. 79.. ...
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Description
One of the Finest Known T15s
T15 $50 1861 Cr. 79.The New Orleans branch of the American Bank Note Co. produced a number of different high-quality steel-engraved bank note designs for the Confederacy under the name Southern Bank Note Co. The capacity of the branch was quite limited, but the branch manager managed to use dies that were on hand to produce serviceable bank notes in at least limited quantities. Assailed by rival companies (e.g. Keatinge & Ball) who planted doubts about the loyalties of the branch manager and finally by Union forces who captured the city at the end of April 1862, production ceased after limited quantities of notes were shipped. The company produced 14,860 of these $50 notes that featured a large train vignette and other complementary vignettes that were all pre-war ABNCo designs. The last two-subject sheet of $50 (T4) and $100 (T3) Montgomery notes was not issued (thus the odd number of 999 issued two-subject sheets rather than 1000) so that it could be shown to Southern Bank Note in an attempt to get T5 and T6 design work started. A rich blend of orange and black inks on bright paper add to the already eye appealing vignette work employed by the Southern Bank Note Company. PCGS bestowed an impressive grade of Choice About New 55PPQ, with mention of cross-cut cancellations. Original embossing is noted and a lone fold through the body of the note is all that keeps this piece from a full Uncirculated grade, even though it may have never actually been used. This note can be traced back to a Lester Merkin sale where Doug Ball relayed to Hilton that it was the nicest T15 he had ever handled. The proof is in the pudding and a look at our archives shows no finer offering in 15 plus years of Heritage Auctions, indicating this may still be the finest example of the type ever offered at auction. The only note that came close was Eric Newman's PCGS About New 53PPQ that realized more than $21,000 less than a year ago. A realization in the $20k's again tonight would be a surprise to no one.
Selections From The J. Wayne Hilton Confederate Currency Collection
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Auction Info
2016 August 11 ANA Currency Signature Auction - Anaheim #3545 (go to Auction Home page)
Auction Dates
August, 2016
11th
Thursday
Bids + Registered Phone Bidders: 4
Lot Tracking Activity: N/A
Page Views: 838
Buyer's Premium per Lot:
17.5% of the successful bid per lot.
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