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T2 $500 1861 Cr. 2A.. ...
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Description
C.T. Jones Signed T2 $500
T2 $500 1861 Cr. 2A.Only printed as part of a first shipment of 607 sheets, this $500 note is one of approximately 130 known surviving examples based on recorded serial numbers. The survival percentage of around 22% is quite similar to the survival rate for the $1000. Because these notes were kept as interest paying investments rather than being used in circulation, it seems quite reasonable that these notes would enjoy such a survival rate. National Bank Note Company, as a means of expediting design and delivery made use of stock pre-war vignettes. The center vignette, called The Crossing, which was engraved by James Smillie, appears on a number of antebellum notes. The engraving is so detailed that, with magnification, one can read the words on the tiny warning sign under the tree by the horseman. The other vignette, Ceres, also made appearances on other state bank notes.
It's important to note again that just 607 sheets were printed as this note bears number 604. It is the highest known serial number listed in Hilton's census and has a good chance to retain that distinction with so few possibilities for a higher number. These last few notes hold another distinction. On July 16, 1861, the capital as moved to Richmond, which led Register Clitherall to tender his resignation. The new register was Charles T. Jones, who signed just the last few notes; serial number 593 and higher. His signature at bottom left, C.T. Jones was also annotated with the date July 27, 1861, eleven days after the capital moved. While the note designates Montgomery, one could also consider these notes the first Richmond issues. The Jone's involvement and the move of the capitals during issuance was such an important event that Criswell gave notes bearing his signature their own reference number in his book.
The paper is exceptional on this PCGS Very Fine 30 graded note, and the margins are ideal for the type. In fact, one will rarely find a fuller framed note that is as even on all four sides. The all important C.T. Jones signature remains bold against the attractive and only lightly circulated paper. Elements of the embossing are still evident through the holder.
UPDATE: Since this note was cataloged, we received an image of a C.T. Jones signed note bearing serial number 584, making it the lowest number, not 593 as previously supported by research. The note bearing serial number 583 is signed by Clitherall.
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
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