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T1 $1,000 1861 PF-1 Cr. 1 PCGS Banknote Choice About Unc 58 Details.. ...
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Description
T1 $1000 Montgomery with Unusual Interest Endorsement
T1 $1,000 1861 PF-1 Cr. 1 PCGS Banknote Choice About Unc 58
Details.This is one of the most storied notes of the Confederate paper money series. Within days of being appointed by Jefferson Davis as Secretary of the Treasury, C.G. Memminger arranged for G.B. Lamar, a southern banker and agent for the Confederacy in New York City, to secure a contract with ABNCo. to print the fledgling nation's first currency and other fiscal documents. Due to the knowledge that hostilities could commence at any time, ABNCo. sublet the currency part of the order to National Bank Note Company. In order to expedite delivery, existing vignettes were used exclusively, and a shipment of 607 sheets of $1000-$500-$100-$50 notes was made in early April, days before the actual shooting started at Fort Sumter in Charleston harbor. The very first notes from this shipment were processed in Montgomery on April 5, 1861. It was soon realized that there was little use for such a high denomination, and so these 607 $1000s were it; the first, last, and only $1000 treasury notes issued by the Confederacy. Today, the census of surviving notes of this design, including this serial number, stands at around 137 notes. The note reflects the early practice of paying interest up to the date of redemption with a stamped statement indicating that the principal ($1000) and interest for 425 days ($42.50) had been received in Savannah. The signer's name has not been deciphered to date. While this note saw little actual circulation, it was hammer cancelled twice and these cancels have been reinforced on the back. Three additional reinforcements were made in the bottom margin, closing four POC cancels. The portions of the signatures in the area occupied by these reinforcements were redrawn. Finally, there are some mounting remnants on the back and small edge tears. All of these relatively minor distractions can not diminish the great rarity of this classic Confederate issue which is one of the required types to complete a Confederate type set. We last sold this note in our 2012 FUN Currency Signature Auction for $20,125 and believe that level should likely be reached or exceeded tonight.
From the Peter Jones M.D. Collection
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