Skip to main content
Go to accessibility notice

    Description

    Pleasing 1862 $50 Legal Tender

    Fr. 148 $50 1862 Legal Tender PMG Very Fine 20.
    A very rare type, with fewer than 50 pieces reported for all three Friedberg numbers covering both the 1862 and 1863 issues. This piece is noted in the census listed there as Fine although it now resides in a VF holder which fits its appearance much better. 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. This piece is colorful and evenly circulated. Its only defect is the numerous small scattered pinholes near the portrait. Our recent 2020 FUN auction saw a realization of $19,500 for a VF 20 restored and $36,000 for a VF 20 with edge restoration, both PCGS graded. A wholly pleasing example that will likely finish somewhere between those two realizations.


    Auction Info

    Auction Dates
    April, 2020
    22nd-27th Wednesday-Monday
    Bids + Registered Phone Bidders: 9
    Lot Tracking Activity: N/A
    Page Views: 705

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

    Sold 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 8 days left to consign to the 2020 August 4 - 10 ANA Worlds' Fair of Money World Paper Money Signature Auction - Pittsburgh!

    Learn about consigning with us

    Thank you for your quick response. I am a member of Heritage Auctions and I am happy to say that it is truly a great platform.
    Mohammed J.,
    Durban, KZ
    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