Skip to main content
Go to accessibility notice

    Description

    Rare 1862 $50 Legal

    Fr. 148 $50 1862 Legal Tender PCGS Apparent Very Fine 20.
    A just plain rare type, with fewer than 50 pieces reported for all three Friedberg numbers covering both the 1862 and 1863 issues. This piece is new to the census, and the first of what is certainly the best offering of early $50 Legals to cross the auction block in many years. All come from the Coral Gables Collection, as the gentleman who assembled the collection long felt that notes of this denomination were underappreciated and undervalued. Alexander Hamilton's portrait was used for the design with UNITED and STATES flanking each side rising from left to right. The lathework is extensive both on front and back, an implement used to thwart counterfeiters. Despite the relatively complex design, counterfeiters still worked to mimic the Bureau's efforts. At least three well known counterfeit engravings are known and it was not long before the Bureau of Engraving and Printing was forced to change the design. In all, just over 600,000 examples were printed for the 1862 and 1863 Series. Offerings of any of the Friedberg numbers, as one might expect, have been infrequent to say the least, with Track & Price reporting only two Fr. 148's having been available in the past nine years, with a 2019 offering of a pinholed PCGS Very Fine 20 fetching $40,800 and a PCGS Very Fine 30 realizing $78,000 in our 2018 Central States auction. This piece is evenly circulated and pinhole free, with its only defect a couple very professionally executed edge restorations that come nowhere close to the design. If rarity and desirability are any guide here, expect the hammer to fall in the range of...
    From the Coral Gables Collection, Part II


    View all of [The Coral Gables Collection, Part II b ]

    Auction Info

    Auction Dates
    January, 2020
    8th-14th Wednesday-Tuesday
    Bids + Registered Phone Bidders: 2
    Lot Tracking Activity: N/A
    Page Views: 333

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

    Sold on Jan 14, 2020 for: Sign-in or Join (free & quick)
    Track Item

    Heritage membership

    Join Now - It's Free

    VIEW BENEFITS
    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
      winnings 
    Consign now
    • Cash Advances
    • More Bidders
    • Trusted Experts
    • Over 200,000 Satisfied Consignors Since 1976
    Only 10 days left to consign to the 2021 June 23 - 25 HKINF World Paper Money Signature Auction - Dallas!

    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

    HA.com receives more traffic than any other auction house website. (Source: Similarweb.com)

    Video tutorial

    Getting the most out of search