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    Excessively Rare State of Arkansas 1868 Issue $1

    Little Rock, AR- State of Arkansas $1 Jan. 31, 1869 Cr. 60
    We have only sold one example from this excessively rare issue in any prior auction, with that piece coming from Bill Kelly's collection which we sold three years ago. In that sale, our description read: "At the conclusion of the Civil War, the State of Arkansas was virtually destitute with credit non-existent and the state's finances a shambles. Against this background, the state government, under the Act of July 23, 1868, opted to finance itself by issuing Treasurer's Certificates paying 8% interest. The Shull reference notes, "There is some uncertainty whether this issue actually was put into circulation as the only two surviving examples were apparently unissued." That uncertainty can now be laid to rest, as the piece we now offer, which is newly discovered and offered here to the collecting fraternity for the first time, is clearly signed, dated, and issued. The only reported $1 example of this issue is illustrated on page 53 of the Shull reference and is a rag, with holes, pieces missing, etc. This example, while clearly circulated, is actually quite nice, with good color, excellent body, and no problems whatever. PCGS has graded it Fine 15PPQ, a grade which exactly fits the note which is in the holder. Any estimate here is simply a total guess, as we have not seen either of the unissued pieces mentioned by Shull for sale." That note realized $7050. The example we offer here tonight is new to the market but far superior to the note illustrated in Shull, as it is wholly intact and simply well circulated, with just minor margin splits commensurate with the grade of Good 4 assigned by PCGS. If rarity and desirability are any guide, expect a realization in the area of...

    Auction Info

    Auction Dates
    January, 2016
    6th-12th Wednesday-Tuesday
    Bids + Registered Phone Bidders: 1
    Lot Tracking Activity: N/A
    Page Views: 253

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