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    Description

    Classic "Indian Princess" Rarity

    T35 $5 1861 Cr. 271.
    The "Indian Princess" note is truly a classic American currency note that has maintained its lofty stature for well over a century. In 1883, John Haseltine declared in the sale featuring Harold's Newlin's Montgomery (or "first issue") notes that the "Indian Princess" was the rarest in the Confederate series. Any auction appearance of a "Princess" is significant, and this is another sharp-looking example from the impressive Hilton Collection. As we have mentioned in this catalog, the T27 $10 "Eagle and Shield" type and the T35 $5 "Indian Princess" were printed in tandem on the same plate by Hoyer & Ludwig on weak, poor-wearing paper. However, unlike some T27 notes, there was no additional second printing. Only 7160 notes were issued, all plate letter Ab, with approximately 140 known today in all grades. The plate and its designs were developed from the Bank of Charleston $5 plate originally engraved by Draper, Toppan, Longacre & Co. that was sent to Hoyer & Ludwig to be adapted. They used the "Princess" at the right, and counters, but developed the rest of the plate using other elements. At the lower left, wharf workers, transport bales of cotton. They are overseen by a smoking man with arms crossed wearing a wide-brimmed hat (George Tremmel published a study of plate diagnostics, including the hat). A Native American princess on a high point looks off into the distance. The titles and obligations are crowded into the right center with multiple arced flourishes over the block with white outlined FIVE DOLLARS and under the title. Below the princess and above the wharf scene are "5" dies. An additional obligation die with shield upon it is left of the titles. In our April 2015 CSNS Signature Auction, we were honored to sell a beautiful PCGS Fine 15 T35 from the J. Wayne Hilton Confederate Currency Collection for $39,950. This set the stage nicely for the Newman collection T35 note to break the $50,000 mark in October, 2015 at $51,700, graded PCGS Very Fine 25. We have always believed high water floats all boats (and notes) upward, and those results both suggest the increased demand for attractive "Indian Princess" notes and all Confederate rarities.
    This note first surfaced at a Currency Auctions of America auction in 2001, part of a consignment made up of the collection of Walter P. Jones, Ph.D. (1895-1977), the State Geologist for Alabama, who owned a complete Confederate type set.
    This type is notorious for having repairs, restorations, and other problems, and unmolested examples are quite rare. This example grades Apparent Very Fine 20 per PCGS due to restorations. They are very well done and very difficult to discern through the holder.
    Selections From The J. Wayne Hilton Confederate Currency Collection


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    Auction Info

    Auction Dates
    January, 2016
    6th-12th Wednesday-Tuesday
    Bids + Registered Phone Bidders: 3
    Lot Tracking Activity: N/A
    Page Views: 652

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