T-4 PF-2 $50 Confederate Paper Money 1861 - PCGS Very Fine 30 - POC! Montgomery! - $14,500 - (San Antonio, TX)
T-4 PF-2. 1861 $50.00 CSA Currency. Montgomery. Slaves hoeing at center. Issued from April 5, 1861 through June 21, 1861. Serial number 1207. Plen A. PCGS Very Fine 30! Punch out cancels. Outstanding color and full frame with superior margins for the type! Genuine. This beautiful $50 green and black Confederate note is the fourth of the four Montgomery notes issued before the capital of the Confederacy was moved to Richmond. It was engraved and printed by National Bank Note Company. A vignette of slaves hoeing in a cotton field is featured in the center of the note. All of these notes were signed by the actual Register (Clitherall) and Treasurer (Elmore). A note about 3rd party grading. PCGS and PMG do a good job putting a floor on quality within a grade range and have become proficient in detecting repairs (though occasionally they miss something, or see something that is not there, as we all can). Notes housed in Net or Apparent holders have a wide range of quality from very nice (in rare cases may be nearly choice) to dogs with major problems, so each needs to be evaluated on their own. However, PMG and PCGS focus on technical grading due to circulation and damage and do not have a mechanism for evaluating condition or eye appeal - whether a note is average, better than average, choice or gem for the grade based on its color, trim and margins. The exception to this are slabbed notes of New or Uncirculated grades to some degree. This is important as Very Fine, Extremely Fine or AU notes can have a wide range of values depending on these factors not reflected in the slab grade. A fully framed Confederate or obsolete note is worth considerably to a lot more than one that is trimmed into the margin for the same grade. Likewise, color is important. These factors can affect the value of a note by 50%, 2-1 or even 3-1, e.g., an AU 58 (PPQ or not) T-20 1861 $20 CSA note trimmed into the margin is worth between $150 and $300. The same grade, AU 58 (PPQ or not), with a …
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