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    Montgomery $500

    T2 $500 1861 PF-1 Cr. 2 PMG Fine 12 Net.
    Part of the original shipment of 607 sheets of notes spirited out of New York prior to the start of hostilities in April, 1861, this example was processed by the Department of the Treasury on July 18, 1861. Unlike many of its brethren Montgomery notes, this note appears to have seen a good deal of circulation and has endorsements on the back that Cramer & Co. had received $504.85 principal and interest from F. H. Hatch, Collector. Frank Hatch was the Collector of the Port in New Orleans and Cramer & Co. appears to have been a large multi-line merchant that is mentioned frequently in New Orleans newspapers that was also a frequent importer of specie based on newspaper accounts. The $4.85 paid interest for 97 days, or from the day the note was released by the Department of Treasury. Interest payments were later made annually on January 1. This note's serial number appears in the census of approximately 137 known survivors today. Although PMG notes the two obvious tape repairs on the back, this note is still a desirable and historic artifact of the past and faces up well.

    Auction Info

    Auction Dates
    September, 2019
    4th-9th Wednesday-Monday
    Bids + Registered Phone Bidders: 18
    Lot Tracking Activity: N/A
    Page Views: 263

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