T35 $5 1861 Cr. 271.. ...

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Pleasing Indian Princess $5 - Low Serial Number 27

T35 $5 1861 Cr. 271.
Printed by Hoyer & Ludwig, the so-called "Indian Princess" $5 is one of the keys and great rarities in the Confederate series. Based on records of serial numbers kept by collectors and dealers, it is believed that there are around 140 examples still in existence. This note was created after the Bank of Charleston donated what was probably a very worn plate to the Confederate Department of the Treasury in 1861. This may account for the very low number actually produced: 7160 notes. This piece first surfaced at a Currency Auctions of America auction in 2001, part of a consignment made up of the collection of Walter P. Jones, Ph.D. (1895-1977), the State Geologist for Alabama, who owned a complete Confederate type set. This type is notorious for having repairs, restorations, and other problems, and unmolested examples are quite rare. The serial number 27 indicates this was one of the first notes of the type printed and issued. PCGS grades this piece Apparent Fine 15, with a few minor impairments including remnants from a mounting and a small edge split on back. It's important to note that no restoration work has been attempted on this piece, likely resulting in even more bidding activity. While condition is certainly a driving factor in the price for Indian Princess $5s, it's the strength of the vignette that collectors covet most. In this case, the Indian Princess is about as bold as we've seen from more Very Fines.
Selections From The J. Wayne Hilton Confederate Currency Collection

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