Description"CSA" Watermarked Paper.
On April 27, 1862 the Confederate blockade runner Bermuda was captured by the USS Mercedita and taken to Philadelphia. Her cargo, which included a shipment of banknote paper bound for the Confederate States of America, was ordered sold by the Federal Courts. The Treasury Department purchased most of the "CSA" watermarked banknote paper and used it for a number of purposes, including Fractional Currency Specimen notes of the Second and Third Issues. The watermark on this example is bold and nicely centered. PMG Gem Uncirculated 65 EPQ.
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