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    Description

    Presumably the Last $500 T2 Issued in Montgomery

    T2 $500 1861 Cr. 2A.
    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 were a large part of the economic output, with an estimated 7 million head, 30% more than the Union's stock.

    CSA research has shown that this note, serial number 583, was the last to be signed by Register Clitherall. The change is especially significant because his resignation was tendered upon news that the capital would be moved from Montgomery to Richmond. Charles T. Jones took over as register in Richmond and his signature is seen on notes number 584 through the final issued number 607. Presumably, this was the very last $500 ever issued in Montgomery. A particularly good looking $500 example that has uninterrupted design details and showed very little use in circulation. The green color is especially bold against the bright paper.

    This notes hails from the collection of Scott Black, who also owned a condition census $1000 Montgomery and wanted this note as its complement. In an arrangement handled by then Houston dealer Crutchfield Williams in November 2001, Hilton purchased both this note and the census-condition $1000 Montgomery from Black. PCGS grades the note Extremely Fine 40, while mentioning some discoloration at bottom, redrawn signatures, and date, and some minor edge restorations. Despite the minor issues, this note has a classic Hilton look - one that puts eye appeal above all in an area of collecting where eye appeal is almost always compromised.
    Selections From The J. Wayne Hilton Confederate Currency Collection




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    Auction Info

    Auction Dates
    August, 2017
    3rd Thursday
    Bids + Registered Phone Bidders: 5
    Lot Tracking Activity: N/A
    Page Views: 1,683

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