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    Description

    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
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