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    Average Circulated and Bright 1861 T2 Montgomery $500

    T2 $500 1861 PF-1 Cr. 2 PMG Very Fine 25.
    Despite the mention of minor repairs, the paper quality is above average on this lovely Montgomery high denomination bearing serial number 382. The Montgomery notes were ordered in early March 1861, weeks before the first shots were fired on Fort Sumter. The original contract for production, which included coupon bonds, transferable certificates of stock, and Treasury Notes, was set with New York's American Bank Note Company who, in turn, turned the Treasury Note portion of the order over to National Bank Note Company. National was under intense pressure to design, produce, and deliver these notes quickly and used stock pre-war vignettes as one means of compressing the production schedule. There was no time for new vignettes to be designed and engraved, so they relied on vignettes from other antebellum notes from both the North and the South. Due to the numismatic and historical importance of the Montgomery notes, the designs most closely associated with these types and in many ways perfectly reflected the essence of the South. The design here is called The Crossing and was engraved by James Smillie. While cotton and tobacco are the first agricultural products associated with the Confederacy's economy, cattle was a large part of the economic output, with an estimated 7 million head, 30% more than the Union's stock.

    This particular note was issued and pressed into service by CH Jones and presented in New Orleans Jan. 28,1862. The deep color is particularly impressive and the assigned grade appears spot on.

    Auction Info

    Auction Dates
    August, 2019
    15th Thursday
    Bids + Registered Phone Bidders: 11
    Lot Tracking Activity: N/A
    Page Views: 1,898

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