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    Description

    Nashville, TN- Bank of Tennessee $500 18__ G506a S-C N-B.TN3-500-2Pf Proof PCGS Apparent About New 50.
    The bank was established in early 1838 and was wholly owned by the state. All of the directors were nominated by the Governor and elected by the legislature. During the Civil War, the bank's asset portfolio became over-weighted with Confederate bonds and securities which, of course, proved to be worthless after the end of hostilities. The courts ruled that the state was responsible for redeeming all of the bank's legitimate issues. It took until 1885 to clear all of the bank's obligations. The $500 design is a spectacular ABNCo creation, with an oval portrait of Washington at center above flanking vignettes of two children. A striking red color is brought into the design, used for a D protector, the denomination FIVE HUNDRED DOLLARS, and the bicolor 500 Dollars elements that occupy each end. The note is printed on India paper with the usual small POCs in the signature lines. PCGS notes a reattached lower right corner and two mounting hinge remnants on the back. We are aware of only one issued note and two proofs of this design at present.
    From the Michael S. Tallent Collection


    View all of [The Michael S. Tallent Collection ]

    Auction Info

    Auction Dates
    October, 2021
    6th-8th Wednesday-Friday
    Bids + Registered Phone Bidders: 9
    Lot Tracking Activity: N/A
    Page Views: 187

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