Skip to main content
Go to accessibility notice


    Pleasing 1861 T-2 $500 Montgomery Note

    T2 $500 1861 PF-1 Cr. 2 PMG Choice Very Fine 35.
    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.

    The paper is beyond exceptional on this PMG Very Fine 35 graded note, and the margins are ideal for the type. In fact, one will rarely find a fuller framed note that is as even on all four sides. The penned issuing statement on the back reads, New Orleans June 24, 1861 A(nthony) J. Guirot Ass(istant) Treas(urer) C(onfederate) S(tates)." Problem-free and original T-2's are none too common and this note bearing serial number 198 should achieve a runaway price here this evening.

    Auction Info

    Auction Dates
    January, 2019
    9th-14th Wednesday-Monday
    Bids + Registered Phone Bidders: 3
    Lot Tracking Activity: N/A
    Page Views: 1,145

    Buyer's Premium per Lot:
    20% of the successful bid (minimum $19) per lot.

    Sold on Jan 11, 2019 for: Sign-in or Join (free & quick)
    Track Item

    Heritage membership

    Join Now - It's Free

    1. Past Auction Values (prices, photos, full descriptions, etc.)
    2. Bid online
    3. Free Collector newsletter
    4. Want List with instant e-mail notifications
    5. Reduced auction commissions when you resell your
    Consign now
    • Cash Advances
    • More Bidders
    • Trusted Experts
    • Over 200,000 Satisfied Consignors Since 1976
    Only 24 days left to consign to the 2021 December 9 - 11 HKINF World Paper Money Signature® Auction !

    Learn about consigning with us

    I think heritage is the best auction house and has the best service - that’s why I use you. 
    Sara B.,
    Dubai, UAE
    View More Testimonials receives more traffic than any other auction house website. (Source:

    Video tutorial

    Getting the most out of search