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T5 $100 1861 PF-1 Cr. 5 PMG About Uncirculated 53 EPQ. ...

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Price:   
Grade: 53 EPQ
Quantity: 1
Last Update: 8/14/2019
Dealer:  (Terms) Heritage Auctions (HA.com)

Auction: 2019 September Long Beach Expo US Currency Signature Auction - #3574 - Session 1 View this auction on the auction site
Auction Date: 9/4/2019 - 9/4/2019
Lot Number: 20196 View this lot on the auction site
T5 $100 1861 PF-1 Cr. 5 PMG About Uncirculated 53 EPQ. Immediately after production of the Montgomery Notes was halted due to raids by federal authorities in New York, C.G. Memminger launched efforts to secure additional Treasury Notes. One of his first initiatives was to award "Southern Bank Note Company" (in reality the small branch office of ABNCo. in New Orleans) a contract to print $50s and $100s. The tiny office was ill-suited from a personnel and equipment standpoint to design and produce large quantities of bank notes. The work progressed very slowly and finally Memminger was forced to use other lithographers such as Hoyer and Ludwig to increase production. Although popularly known as "First Richmond" notes, both the $100 and its sheetmate $50, were placed into circulation after Hoyer & Ludwig's first notes. Only 5,798 notes were issued before the fall of New Orleans at the end of April, 1862 which brought an end to the production. This note may have spent most of the war in a safe or strong box collecting its 3.65% per annum interest, as there are few signs of handling or circulation. A pretty note that will fit well in any CSA or Civil War collection. From the Brigadier General Donald D. McClanahan Collection of Confederate & Confederate States Notes HID08101242017

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