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T48 XX-3 $10 1862.. ...
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T48 XX-3 Apparent VF 35
T48 XX-3 $10 1862.A note forever linked to T47 XX-2 as either a Treasury test pattern or a fantasy issue. Confederate collectors clamor for these to make their collections complete. A look at the prices in Fricke on page 349 reveals that the values for T48 XX-3s are much higher than T47 XX-2s. We also know that we have auctioned one-third fewer T48 XX-3s over the years. Tonight's PCGS Apparent Very Fine 35 offering is the highest third party graded example we have auctioned. The Apparent grade is for small edge splits and an inscription in the right margin. We can find three splits along the bottom edge that barely reach the frame line. The inscription only increases the allure of this note. It reads, "Confederate bank note taken from one of the vaults in Richmond." We will let our bidders contemplate this inscription.
From The Willamette Collection Part II
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