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    Description

    Bright and Original $1,000 Montgomery

    T1 $1,000 1861 Cr. 1 PCGS Extremely Fine 45PPQ.
    From the very first issue made by the newly formed Confederate States of America, this $1000 note simply oozes history. The order for these notes was placed by Secretary Memminger within days of their authorization. Memminger used Gazaway Bugg Lamar as his agent to negotiate a contract to print a number of types of fiscal instruments with ABNCo. Time was impossibly short and ABNCo. subcontracted out the Treasury Notes to National Bank Note Company. Using all pre-war vignettes, National miraculously delivered 607 sheets of $1000-$500-$100-$50 to Montgomery by early April. In fact, the first lower denomination notes were issued on April 5, a week before hostilities commenced. The $1000 note was never envisioned as serving a real need in day-to-day commerce but rather was viewed as a 3.65% bearer instrument that would be held as an investment. $1000s were issued sparingly, with this low serial number (87) not being issued until May 28, 1861.

    The note ironically has portraits of John C. Calhoun and Andrew Jackson who, in life, certainly did not share the same views on states' rights. This note seems to have many attributes of an even higher grade note. It is deeply inked with strong penned information and is decently framed. It has been hammer cancelled once, but the cancel has produced no paper shrinkage or loss and the note is free of other distractions such as stains or repairs.

    Wherever this note goes it will be the highlight of its collection. There are presently somewhere around 137 surviving examples known, ranging from serial no. 12 to serial no. 595.
    Selections From the J. Wayne Hilton Confederate Currency Collection




    View all of [Selections From the J. Wayne Hilton Confederate Currency Collection ]

    Auction Info

    Auction Dates
    April, 2020
    22nd-27th Wednesday-Monday
    Bids + Registered Phone Bidders: 7
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