Shipley's Currency - Inventory - CSA

Inventory - CSA - 1861 - 1862 - 1863 - 1864:

Below are a few of my current 1862 CSA offerings. Visit the Terms page to order. To return to home page; click "Shipley's Currency" at upper left.

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Abbreviation Key

NEW Superb	BOOK	Confederate Issuers of Train & Hoer Notes by Michael McNeil	Finally, a new book with full color illustrations of 7.30 notes (T-39, T-40 & T-41) describing the military, Civil and other super neat endorsements sometimes found upon the back of these notes. Over 275 pages of issuers, locations and other strange notations of all known issuers. These notes paid 7.30 percent interest per year. Thus the name nickname "7.30 notes". They were often issued in the field by Military Quartermasters in charge of securing supplies for troops. Consequently; a note might have been issued by Captain and AQM James A Glover on the 24th day of December, 1863 at Knoxville, TN or thereabouts for hogs, cattle, cloth or any other thing imaginable needed for Confederate Troops in the area. The citizenry was required to accept Confederate Treasury notes. The intriguing aspect of this book is the fact that issuers names that we used to guess at are correctly named and the unit the individual served with is listed as well. I could go on and on about this book. Once you pick this book up, you will not put it down. If you have the slightest interest in CSA Treasury notes; you will find that this is the best money you have ever spent. Heavy on full color illustrations and printed upon the finest paper stock. A must have.	NEW	$45 DELIVERED via Priority Mail	Reverse Once a scan comes up; click the center square for a larger image.
1862	$100	T-39 CR-289 H&L MAY 8, 1862	Serial # 1082. Dated May 8, 1862. Another high grade example of the May 8 date of the small Hoyer and Ludwig run. Bold, vivid date and signatures. This note is as clean as a pin; bright and crackling crisp. Cut a fraction tight at the upper left and a tiny chink well outside of the frame line to the upper right. As with most of the 1862 100 Dollar notes, some counting is barely seen. Exceptionally well inked with superb eye appeal. No pinholes or problems at this grade level. Downright nice and a great addition to any collection.	Market Grade: Choice CU My Grade: AU.	$260	Reverse Pic 2
1862	$100	T-39 CR-289A H&L MAY 8, 1862	Serial # 1026. Dated May 8, 1862. Plate letter "g" below the "A" with period after the "g". A high grade Hoyer and Ludwig note; being cut tight at the bottom. These notes comprised a mere fraction of the number of T-39's produced and were dated only May 5, 6, 7, 8, and 9. Crisp and as new. Interestingly, interest was only collected for the period of time between the date of issue (May 8, 1862) and January 1, 1863. As these notes paid 2 cents per day interest (thus the name 7.30 notes), it is most unusual that no one collected interest upon this note for the years of 1863 and 1864. $7.30 was a good sum of money during the Civil war and one of the few means of acquiring hard specie. I can assure you that the note was not owned by a large company or the like. Likely some individual was just not in a location or a position to be paid the interest which accrued on this note. Very well inked with excellent clarity. Two extremely light bends Not folds) which are hard to see run vertically. A nice looking Hoyer and Ludwig note which surely has an interesting story behind it.	Extremely Fine + MKT Grade UNC.	$190	Reverse
1862	$100	T-39 CR-290 MILITARY ISSUE "J.G. Hightower" " Capt & AQM" GEORGIA	Serial # 23362. Straight steam emitting from smoke stack. Brown ink date of July 24, 1862 on front. A note that did not circulate as much as it appears; as it has the body and crispness of an XF or better note. Some foxing and close trim; as with most of the T-39's and 40's. The interesting aspect of this note is the reverse endorsement. A black stamp indicates "Issued Sept. 9, 1862". Following the stamp is Hightower's issuance. "J. (James) G. Hightower, Capt & AQM". Hightower is believed to have served with the 3ird Battalion of the Georgia Infantry. His endorsement is not one of those seen often. Most military issued notes were simply issued by the officer entirely in their own hand. However; this particular note has a black date stamp preceding Hightower's endorsement. I can think of only one or two instances where this occurs. Two or three small pinholes are mentioned for accuracies sake. While not a crisp uncirculated piece; much better than it appears in the scan and a wonderful piece of Civil War history. On the rare occasion I am lucky enough to locate an example; military issued 7.30 notes are getting next to impossible to acquire by me for less than $500; irregardless of grade. I see no downward deviation to this trend.	MKT Grade VF+ My Grade: Fine+	$395 SOLD	Reverse Pic 2
1862	$100	T-39 CR-290 MILITARY ISSUE "E.C. Wharton" "Major & AQM, CSA TEXAS	Serial # 5911. Dated June 26, 1862. Straight steam. An incredible miracle of survival in this condition. Cut tight at the top; however not one single fold. Crackling crisp and like brand new. There is a natural paper defect that may be seen running horizontally across the note. This is hardly distracting. All of the Wharton issued notes I have seen over the years were heavily inked at the signatures and Wharton's endorsement. There is NO bleed or burn on this note. This was likely occasioned by the type of paper used by Wharton as he was given notes to issue and the acidic ink. T-39's are no match for T-41 when it comes to paper quality. The endorsement reads "Issued July 16, 1863 E.C. Wharton, Maj & QM; CSA". A terrific endorsement. The note has not been trimmed and when looking at it in person; one can tell that Wharton simply ran out of room at the end of his endorsement. Likely issued near Houston or thereabouts; as Wharton wrote an interesting article published in the Galveston Weekly News on November 19, 1862 concerning the need for clothing for the Texas Home Troops. This article is published in the book for sale listed above by Mr. Mike McNeil. An incredible note it it's own right. I would imagine that this note was issued by Wharton on a very hot, July Texas day.	UNC.	$495 SOLD	Reverse Pic 2
1862	$100	T-39 CR-291 Mobile Savings Bank Validation Stamp	Serial #4261. Dated June 5, 1862. A well framed circulated example. Bears the hard to find "Mobile Savings Bank stamp. Used to validate (prove genuine) during the counterfeit rage of late 1861-1862. A tough note to find.	F/VF	$175	Reverse
1862	$100	T-39 CR-291 Charleston, SC Postal Stamp Issue	Serial # 15185. Dated June 28, 1862. A very pleasing Charleston, SC postal issued T-39; which as evidenced by the postal stamp was issued in Charleston August 25, 1862. Interestingly, no interest was collected for the year of 1863. @ black Charleston IP's for 1863 and 1863.	VF+	$135	Reverse
1862	$100	T-39 CR-291 COLUMBUS, GA IP	Serial # 19078.Dated July 14, 1862. No folds and as crisp as new. Incredible inking and eye appeal. IP stamps; 1863 Montgomery (Blue); 1864 Macon (Red); 1865 Columbus, GA (Black & very tough). Superb T-39.	UNC	$185	Reverse
1862	$100	T-39 CR-291 COLUMBUS, GA IP	Serial # 19244. Dated July 10, 1862. Very sharp note. Trimmed a tick tight at left; although still uncirculated. A very tough 1865 Interest Paid stamp from Columbus, GA. 1864 Red Macon; 1863 blue Montgomery. Crackling crisp.	UNC. Nearly Choice	$195	Reverse
1862	$100	T-39 CR-294 MILITARY ISSUE "J.B. Brown Capt & AQM"	Serial # 26848. Dated upon the face July 24, 1862. Scarce straight line issue stamp upon back "Issued Sept. 9th, 1862". This stamp was no doubt placed there by Captan James B. Brown. As may be seen , Brown's brown ink manuscript endorsement of "J.B. Brown Capt & aqm" is placed directly underneath the issue stamp. Most military issued notes were done so in 1863; thus this particular note is quite early for a military endorsement. As is explained elsewhere; such notes were issued for beef, supplies or anything else needed by Confederate troops while in the field. Someone of rank , to wit: the Quartermaster or Assistant Quartermaster only had the authority to issue these. Brown was known to have served in the Confederate Provisional Army, although his exact whereabouts have yet to be determined. A great piece for research. Military issued 7.30 notes are very much in demand and most difficult to locate. The note here offered is plenty crisp and has only a small water stain at the right of Brown's endorsement. Such does not detract when it comes to a military issued T-39.	VF/XF	$375	Reverse Pic 2
1862	$100	T-39 CR-290 BOGUS BACK	Serial # 5697. Straight Steam and dated June 13, 1862. This note possesses the much debated "Bogus Back". The debate being: is the green print under the Savannah Interest Paid stamps or on top of them? Called Stage Money for many years, I have never bought into that. Much research has gone into these notes and all seem to be numbered closely; from a pack of 100. A number of packs were used; although all are close in number and bear similar interest paid stamps; depending upon the pack. Crisp as the day it was printed and getting very difficult to find. Fully framed and the least bit of counting on the left end from the back. This is most common with regard to 7.30 % notes; as they were held by large Insurance Companies, Banks and cotton brokers for the most part. When interest became due on January 1st of each year, the notes were thumbed and counted. As more people study these notes; more go off the market and it becomes much tougher to find them. A tiny, tiny corner fold is noted at the upper left reverse and a tiny bundle hole may be seen if looked carefully for at the lower left back. A high grade Bogus Back and about as nice as they come.	CHOICE AU+	$450 SOLD	Reverse
1862	$100	T-39 CR-294 Full Engraver's Name: Emiel Thieme at left.	Serial # 29429. Brown ink date of August 4, 1862. A true miracle that this engraver's full name was left upon this note. These names were trimmed off 99.99% of the time. Further, they were placed upon the uncut sheet at random; with no regard to the position of the notes. As may be seen with this note, the engravers name was placed nearly between the "Ae" note above and this note ("Af") upon the uncut sheet. Extremely tough to locate like this. A very clean and crisp note with no problems. An unknown Interest Paid stamp for 1863 with an 1864 Jackson and an 1865 Montgomery. A seldom seen occurrence and highly desirable as such.	XF	$175	Reverse Pic 2
1862	$100	T-39 CR-294 MILITARY ISSUE Nathaniel O. Tilton Capt. & QM 25th Reg. GA. Inf.	Serial # 25457. Dated July 24, 1862 upon the front. An incredibly well preserved military issue. As crisp as new and cut just a tiny tick close at the top. The note is nearly choice Unc. Three serial numbers away from a Tilton note just sold by Heritage auctions for $575 and a better note than that one. Superbly inked with great contrast and clarity. Officially issued by Tilton as follows: "Issued Aug 7th, 1862 Nath O. Tilton Capt. & AQM". When located, usually signed with initials only; N.O. Tilton instead of Nath O. Tilton. Tilton served with the 25th Georgia Infantry. His enrollment date and location are subject to further research. If you want quality and a scarce note; here it is. I find it truly amazing that this example is so well preserved. A tiny, light water spot is seen at the top right front. Believe me; with regard to a note like this, the spot is of no consequence. A black interest paid stamp to 1863 from Savannah and two tougher red Macon interest paid stamps for 1864 and 1865. No problems and a superb note. These notes will not be available forever....especially in this lofty state of preservation.	UNC. Nearly Choice	$450 HOLD	Reverse Pic 2
1862	$100	T-39 CR-294 Full Engraver's Name: Amendt at left. Charleston	Serial # 26716. Brown ink date of July 24 on face of note. Manuscript issue of "Aug 29th 1862" upon reverse. Remember this: If no issue date appears upon the back of these 7.30 notes; the date upon the front controlled when interest began accruing. If there is a date of issue upon the back; that date controls when interest began to accrue. In this case, interest obviously began accruing from the reverse date of August 29, 1862. In many cases; these notes were shipped from Richmond to very remote locations; such as Houston, San Antonio or other locations which were a great distance away from Richmond. The Confederacy certainly did not want to pay interest until these notes were issued in their respective locations; thus we see issue dates upon the back. This note is crackling crisp and fresh. Typical trim for the issue. No problems and the very scarce engraver name of Amendt appears in full at the left front. Just because I have several of these, don't let that mislead you into thinking these are common. It has taken me years to acquire them and I am just now getting around to putting them on the web site. A superb note.	UNC	$185	Reverse Pic 2
1862	$100	T-39 CR-294 W.T. Goodwin Dep Coll	Serial # 7549. Dated June 18,1862. Another note issued by W.T. Goodwin as Deputy collector. Gorgeous, bright white and problem free. A beauty.	UNC+	$175	Reverse Pic 2
1862	$100	T-39 CR-294	Serial # 9610. Dated June 21, 1862. A fully framed note and most difficult to locate as such. The very slightest of handling and a very hard to see; light bend at the upper left from the back. Otherwise; a Gem. Unknown 1863 interest paid stamp. 1864 & 1865 at Jackson. An amazing T-39 and not readily available nowadays.	CHOICE AU	$195	Reverse
1862	$100	T-39 CR-294 Two Tallahassee IP	Serial # 26058. Dated July 24, 1863. Clean as a pin with two tougher Tallahassee, FL interest paid stamps for 1864 and 1865. Black Savannah, GA for 1863. As crisp as new and a nice looking note.	XF	$165 SOLD	Reverse
1862	$100	T-39 CR-294 SAN ANTONIO POSTMARK	Serial # 30649. Dated August 13, 1863 and near the end of the run of T-39; with August 15, 1862 being the last date seen on T-39. Graced with a very, very clear San Antonio, Texas postmark used for the date of issue. These are becoming next to impossible to find. A solid note with no problems. A true miracle of survival. Unknown black straight line IP for 1864. No interest collected for the year of 1865. About as nice as these come.	VF+++	$450	Reverse
1862	$100	T-39 CR-296 Full engraver's name: Amendt to right.	Serial # 23754. Brown ink date of August 1, 1862 on front. A pretty late date for T-39. Two Augusta IP's for 1863 and 1864 on back. Full engraver's name of Amendt to right. There is a pinhead sized hole which may be seen from the front at the right "100" medallion. Otherwise, a super T-39. Light serial number. Again, typical trim. Many of these notes have old pencil notations upon them of Bradbeer numbers or the like. Bradbeer was published in 1915 and was the first usable guide to collecting CSA currency. The pencil notations do nothing to diminish the value of the note and in my opinion, ad character. A neat piece and priced with the above mentioned issues taken into consideration..	AU: NET: VF	$100	Reverse Pic 2
1862	$100	T-40 CR-298 FULLY FRAMED JACKSON, MS POSTMARK	Serial # 57520. Dated October 2, 1862. A gorgeous T-40; being fully framed and as crisp as the day it was printed. Two minor age spots which are not distracting. I have to go though 1,000 or more T-40's to locate a note with this much eye appeal. As stated elsewhere, fully framed T-40's are scarce. This one is a beauty and bears the rather elusive Jackson, MS postmark as an issue date and location. Remember, interest was calculated on these 7.30% notes from the date upon the front, unless the note was issued on the back. This note is a prime example of that. It was printed, dated, signed and then shipped to Jackson for issuance. Issued Nov. 8, 1862 as indicated by the postmark. Two very nice straight line interest paid stamps from an unknown location (my guess is Houston). A winner which took me a long time to find. The Jackson, MS postmark is tough to find this nice. A note which would easily grade Extra Fine by most. I feel as though it has just a tick to much going on at the corners to make that grade. Still, a choice note.	VF+	$225	Reverse Pic 2
1862	$100	T-40 CR-298 John Boston: "Coll" /Savannah	Serial # 38572. Dated August 24, 1862 upon the front and subsequently dated "Sept 3rd 1862" upon the back. Likely done so by John Boston; whom at this time had only the position of "Collector". Boston was the former United States Collector of Customs in Savannah prior to the Civil War. He was appointed Collector and Depositary for Savannah on February 27, 1861. Boston died before the War ended on March 1, 1864. His manuscript endorsement of 7.30 notes as Collector is most interesting and a very collectable item. Very well trimmed for the issue, with the usual "counting" at the left end of the back. Crackling crisp with plenty of pop. A nice T-40 in it's own right.	Uncirculated	$160	Reverse Pic 2
1862	$100	T-40 CR-298 B.C Pressley-stamp Charleston/issue. Augusta & Tallahassee IP	Serial # 37239. Dated August 20, 1862. A neat note that saw a good bit of travel. Issued in Charleston, SC. Interest paid 1863 and 1864 at Augusta. Finally, interest paid through Jan 1 1865 at Tallahassee, Florida. Crackling crisp and fresh. The tiniest bit of counting; which is tolerated upon the 7.30 % interest bearing notes, as most were "thumbed" and counted by larger Banks and financial institutions. A superb T-40.	CU	$185	Reverse
1862	$100	T-40 CR-298 Round Blue Montgomery Issue Stamp	Serial # 53807. Dated October 1, 1862. An outstanding example of a T. Sanford (Thaddeus), Depositary at Montgomery blue issue stamp. Often blurred. Crisp and bright. Blue Montgomery 1863 and red Macon 1864 interest paid stamps. A sharp T-40 which appears to have remained in the deep South throughout the Civil War.	XF	$150	Reverse
1862	$100	T-40 CR-298 CHOICE NOTE	Serial # 63063. Dated October 22, 1862. One of the very, very few T-40's I have encountered fully framed. Believe it or not; a T-40 in this grade is more rare than a Montgomery. Snow white and fresh. Extremely well inked and as crisp as a modern note that you could go down to your local bank and obtain today. Light foxing at corners. Four frame lines. What appears to be a pinhole in the "100" medallion from the reverse, is not. One of the most beautiful T-40's I have ever handled. A lone Interest Paid stamp from Montgomery, AL for the year of 1863 (to Jan 1 1864) appears on the back. A true, snow white beauty and an extreme rarity at this grade level Further, a classic reason why you can not buy a note on the internet from a front scan only!	CU	$450	Reverse
1862	$100	T-40 CR-300 MILITARY ISSUE "W.T. Goodwin Dept Coll" & "J.G. Michaeloffsky Capt & AQM" ALABAMA	Serial # 38792. Diffused Steam. Dated August 24, 1862 upon the front. While not a high grade piece; this note carries no less historical significance. This note circulated, as is evident from the scan. There is a bottom chink to the right under Bell's signature for "Treasurer" and a rough corner at the upper left from the front. However; no internal splits or tears as might be expected. A quite presentable piece; given it's reverse. Grade is not nearly as much of a factor with these notes as with notes for a CSA type set or the like. This note was issued "Sept 4/62 by W.T. Goodwin; the collector and later Depositary at Savannah, Georgia. Interest was then collected upon the note by it's holder for the year of 1863 at Augusta, as may be seen by the "Interest paid to 1st January 1863 at Augusta" stamp. One year after being issued by Goodwin in Savannah; this note was again issued by J.G. Michaeloffsky; as is illustrated by his endorsement. "Issued 10 Sept 1863 J. G. Michaeloffsky Capt & AQM". A neat note bearing two manuscript issuance's. Michaeloffsky was appointed to Acting Quartermaster for the entire State of Alabama on March 22, 1862 by Judah P. Benjamin; acting Secretary of War for the entire Confederate States of America. No small appointment indeed. Where Michaeloffsky issued this note could be ascertained by further research of just where he was on the date the note was issued by him. As indicated elsewhere; these notes were issued in the field for any provisions or needs the Confederate army had; whereever they might be. A great piece of Americana that is very seldom available to collectors.	VG/F	$375	Reverse Pic 2
1862	$100	T-40 CR-300 Bogus Back	Serial # 32533. Dated August 14, 1862. Large plate letter near "A". A very bright note, clean note. Crackling crisp and fresh. A very unusual Bogus Back in that it bears an 1863 Interest Paid stamp from Columbia, SC and an unknown, 1864 straight line IP believed to be associated with the Trans-Mississippi area. Bogus Backs are by no means common, although 99% of those I have seen have interest paid stamps from either Raleigh, NC or Savannah, GA. I do believe this is the first Bogus Back I have seen bearing any other interest paid stamp than those mentioned above. A note which would be an extremely inte4resting study piece. A small eraser head size area of foxing and a corner fold or two. Still, as crisp and bright as a brand new note/ Very vivid date, serial numbers and signatures. A neat and unusual Bogus Back if there ever was one.	AU	$425 SOLD	Reverse
1862	$100	T-40 CR-300 RED INK ISSUE MOBILE, AL	Serial # 57176. Dated upon the front October 22, 1862. Diffused steam. Large plate letter under "A". Snow white and crackling crisp. A slight "bump" at the upper left corner from the front. Standard counting to the right. Not one single, solitary pinhole. A gorgeous note which looks much better than the scan. These scans pick up things the human eye cannot see and are tough on notes. That's ok with me; although a scan can distort a note's appearance for the worse. The brown striations upon the top reverse do not show up well when looking at the actual note and appear to be transfers from this sheet being laid upon another wet, signed sheet. Irregardless; a most unusual issuance in red ink. The reverse tells us that the note was "Issued Mobile Febry 11/63". Manuscript issued 7.30 notes from Mobile are very, very seldom seen. We encounter interest paid stamps from Mobile upon these notes from time to time; although not issuances. On the rare occasion such a note is found; odds are the issuance will be in the cheaper brown ink....not the scarce red. Of interest to advanced collectors is the signature combination of E. Nulty for Register to the left and E.C. Goddin (Edward C.) for Treasurer to the right. Compared to many of the other signers; these two are not often seen. A scarce Train and sure to please.	XF Mkt grade: AU	$395	Reverse Pic 2
1862	$100	T-40 CR-306 Full Engraver's Name: Hollings Brown Ink: Jackson "CSA" Script letters Watermark	Serial # 39738. Brown ink date of September 1, 1862. This note did see circulation, although has no problems. Brown ink manuscript "Issued Jackson Octo. 7th 1862" which would have been the date 7.30% interest began to accrue. It cannot be ascertained from the scan (white background); however, this note possesses a lovely full "CSA" in Script letters watermark. The watermark is dead centered in the middle of the note and very easy to see when viewing the note in person. A neat 7.30 train.	VF	$165	Reverse Pic 2
1863	$100	T-40 CR-308 January 1863 Knoxville 1864 IP stamp. Done in Atlanta: Scarce	Serial # 68639. Dated January 8, 1863, the last date Criswell lists for any of the Train notes. A very attractive piece with just a tiny spot or two of foxing and close trim at the lower left. Nothing unusual there. The key to this note is the 1864 Knoxville, Tn stamp. J.G.M. Ramsey was the Confederate Depositary agent in Knoxville. He left Knoxville in November of 1863; as that city was under attack by Grant from the Southwest, Butler from the North West, etc.. Ramsey took all of the Confederate Treasury assets he had, along with the Bank of Tennessee assets and fled to Atlanta. There he acquired permission to use the vaults of the Bank of Fulton in that city. This is a little known fact to the collecting community and places the 1864 Knoxville Interest Paid stamp in a very special category. While the stamp may read "Interest Paid to 1st January 1864, at Knoxville"; you can bet the farm that it was not paid in Knoxville, but Atlanta. A great piece for any collector; especially the TN collector or Georgia collector looking for something from Atlanta. A special note. As usual, light counting. Crackling crisp and a most desirable piece of Americana.	AU+	$275	Reverse
1863	$100	T-40 CR-308 Extremely tough Military Issue MARTIN WALT MAJ & QM VIRGINIA	Serial # 69631. Dated January 8, 1863. An outstanding example of a January 1863 T-40 in its own right. This note is getting very near the end of the serial number run for T-40; with # 69900 being the highest serial number for the issue listed in Thian. This means that a mere 269 additional sheets of 8 notes each were printed which bear serial numbers higher than this one. If you look at enough T-40's; one can always tell a January 6 or 8 1863 issue without even looking at the date; as the paper is slightly different in texture and color than that used on other T-40's. The lightest of folds mat be seen at the upper right reverse. As is not the lest bit unusual for notes bearing the date of January 1863; the signatures and date are light. This note was signed by C.S. Taylor for "Register" to the left and W.G. Allen for "Treasurer" to the right. No interest paid stamps appear on the note. The back reads "Issued 4 March 1863 By Martin Walt; Maj. & QM" (Quartermaster). Walt is is very rare military signature and by no means comparable to the likes of Brown, Legg; Paxton and a few others that are more often seen. In fact, this is one of only two I have seen. More study needs to be devoted to Walt; although he is listed as serving in Virginia in the Book referenced at the top of this page. This one is a tough one. The note itself is superb; especially for a military issue. It was likely issued; paid to someone for supplies in some remote location and never used again or presented for collection of interest. Locating a rare military issue such as Martin Walt in this lofty state of preservation is indeed a rare occurrence. Cut a tick tight at the top and right; the note is otherwise choice. Most unusual for any 7.30 note issued in the field. Just a great piece.	AU+++	$750 SOLD	Reverse Pic 2
1863	$100	T-40 CR-308 DATED JAN 1863	Serial # 63069. Dated January 6, 1863; the next to last ay for this issue as listed in Thian and Criswell. Some minor edge bumps; although overall a very clean and crisp T-40. No collection of Trains can be complete without a January 1863 issue. The back reflects that the note was issued in some unknown location on February 14, 1863. This could not have been too far from Richmond, as the travel time for the note in only about a week over its face date. If you want a reasonably priced, clean and crisp Jan 1863 T-40, you can't go wrong here.	VF+/XF	$160	Reverse
1863	$100	T-40 CR-308 JAN 6. 1863 Large Richmond Treasury Stamp Two Raleigh, NC IP	Serial # 67777. Another January 6, 1863 issue. An exceptionally clean and bright example of the issue. Trimmed somewhat irregularly at the top. What else is new with T-40? The neat thing about this note is the large, rectangular Issued stamp from Richmond. I've seen this stamp before; although cannot recall seeing it on a January, 1863 issue. The large stamp reads "FEB 10 1863 ISSUED FROM TREASrs OFFICE, RICHMOND". The note was then reissued again at an unknown location as shown by the brown ink "Issued June 12, 1863". Ad two black Interest paid stamps for 1864 and 1865 from Raleigh, NC and you have the makings of a very interesting piece of Confederate history. It is much more difficult than one might think to locate notes such as this without major problems, such as stains, tears, or the like. Crackling fresh and no pinholes. A neat T-40 if there ever was one.	XF+	$175	Reverse
1862	$100	T-41 CR-311	Serial # 1210. Entirely handwritten date of Aug 26, 1862. No "The" before "Confederate". Red alignment dot perfectly centered and visible at the bottom. Superb trim. This note bears three interest paid stamps from Augusta. I mention this because I have handled every single Wookey Hole watermarked Cr. 314 (full written date with Wookey watermark) in the top 10-15 of the census. The interest paid stamps are in the exact same location as those found upon the aforementioned Wookey's. In all probability; this note was printed upon a sheet of Wookey Hole Mill watermarked paper. As the watermark was only visible in one position per eight notes; this is a very probable scenario. Irregardless, a beautiful full written date. These notes are 100 times more difficult to locate in high grade than they were just a few years ago. Great trim, no pinholes or folds. A light "tide line" from water may be seen at the upper left reverse. What may at first glance appear to be a fold on the back is actually the continuation of the stoke of the pen of J. M Kinney's signature for Register. A beauty and really tough to locate now. A gem, save for the little tide line.	CU Nearly Gem	$325	Reverse Pic 2
1862	$100	T-41 CR-311 Full Written Date	Serial # 1280. Full written date of August 26, 1862. The Criswell 311 has long been of interest to collectors; as only 1800 sheets of 4 notes per sheet were printed. Instead of the usual "18" of 1862 being engraved; the entire year is written by hand. In addition, there exists no "THE" before "Confederate" in Confederate States of America. These were the very first T-41's printed, bearing low serial numbers and this printing plate was retired quickly. While 1800 sheets may sound like a great deal of notes; one must consider the total number of Cr. 311's printed; 7,200 vs the entire print run of T-41; 678,600 notes. Add in the survival rate and the desirability becomes much more apparent. The note here offered is totally free of pinholes, chinks stains and the like. It is trimmed tight, possibly explaining the grade of Choice About New 58 assigned by PCGS. I can ascertain no folds otherwise necessary to down grade the note to AU. Plentiful and appealing original embossing is present; superb contrast and bold signatures/serial numbers. The maroon alignment dot at the bottom of the note, between "For Register" and "For Treasurer" is right where it should be. This alignment dot was placed upon the uncut sheet prior to trimming the notes and it's purpose was "allegedly" to guide those hand cutting the notes from the uncut sheet. As all of us who love Confederate Treasury notes are aware, dot or no dot; trimming was at best "happenstance". A high quality and most desirable example of an issue which becomes much more difficult to locate with each passing day.	PCGS CHOICE ABOUT NEW 58	$375	Reverse Pic 2
1862	$100	T-41 CR-312 ! Full Written Date AUG 26, 1862 "CSA" SCRIPT W/M 2 KNOWN ! August 26, 1862	Serial # 1575. Full written date of August 26, 1862, scroll one, CSA in script letters watermark. No "THE" before "Confederate". Excessively rare is an understatement with regard to this note. In Fricke's 2003 encyclopaedic work upon the subject of CSA Treasury notes, he states that "Unlike most issues of these first T-41's, this variety was issued August 30, 1862". What this translates to, is that of the 6 known full written date T-41's, scroll one with a CSA script watermark; 4 of them are dated August 30, 1862; one of which resides in the Museum of the Confederacy. In Fricke's 2008 work, he indicates that there are 2 known August 26, 1862 notes of this variety and assigns it a rarity rating of 14 (2 known) using his rarity rating. If there are two known, I've sure never seen them. There are no Scroll 2 T-41's bearing a full written date of any variety. Multiple times more rare than the full written date "Wookey Hole Mill" watermarked note. In fact, this example is more rare than most any variety of T-41 bearing a Wookey hole watermark. 2 known is obviously not very many. The odds of that number increasing are present; although highly unlikely. Dr. Douglas Ball and other esteemed researchers have been keeping up with these for over 75 years now. I doubt Dr. Ball ever saw an example of the note here offered. The note itself is gorgeous. It is trimmed a tick tight at the upper right and has extra selvage at the lower right. I do not trim notes; although some do. What you see here is exactly as it was the day it was printed and cut from the sheet 148 years ago. Compare two known notes to 125 known T-1; 119 known T-2; 174 known T-3; 176 known T-4; and 127 known T-35 (Indian Princess) and you get the idea. One of, if not the most rare Confederate Notes I have ever handled. After viewing the 300 dpi scan of this note, and only after; a light fold may be seen at the lower left when viewing the back. I could not see this fold with my own eye, good light and a good glass. At 300 dpi, even the most minute detail becomes visible. Original embossing is also evident via the 300 dpi scan. The note is crackling crisp, fresh and bright. No pinholes or other problems. Although not obvious from the scan, the "CSA" script letters watermark is bright, vivid and very bold. Hair tight trim at the upper right; otherwise pristine. You may rest assured that the slight tight trim is not a factor when it comes to this note. If you want the rarest of the rare, combined with great quality, you cannot go wrong here at any price.	CHOICE AU+	$6500	Reverse Pic 2
1862	$100	T-41 CR-315 Re-Issued Houston, TX	Serial # 8930. Dated September 6, 1862. Frame line goes all of the way under "except" (9 out of ten T-41's will be "A"'s). Exceptional eye appeal with superb color, clarity and contrast. Crackling crisp and fully framed; although tight in places...the black frame line goes all the way around. Very bold signatures and serial numbers. You couldn't ask for a note with more eye appeal. This beauty was re-issued in Houston, TX, likely by James Sorley, the CSA Depositary agent in that location. Located in the heart of the Trans-Mississippi Department. The re-issue stamp is vivid and clear. Just an overall clean, bright, nice note with no stains, pinholes or problems of any nature. Any CSA note issued or re-issued West of the Mississippi River is extremely desirable and most eagerly sought after by collectors. Graded AU+ when I acquired it. The note has an "as made" crimp in the lower left corner, visible from the back and a good sized fold at the upper right . Neither is significant or distracting. While technically the note might grade AU; I prefer the conservative approach and grade it Choice Extremely Fine. Irregardless, a prize worthy of any collection. We have a tendency to think notes such this will be around forever. I can assure you such is not the case. All Trans-Mississippi material is becoming next to impossible to locate. A choice piece of Americana.	CHOICE XF	$475	Reverse Pic 2
1862	$100	T-41 CR-315A ISSUED GALVESTON, TX	Serial # 114684. Dated December 15, 1862. The first time I have been fortunate enough to offer two T-41's issued from the port city of Galveston, TX. A better grade note than that offered below. I cannot overemphasize the rarity of this issue location. As I have said many times before, any CSA note issued West of the Mississippi River is highly desirable and eagerly sought after by collectors. Galveston is rarely seen. In fact; I had been collecting and dealing in CSA notes for 20 years before seeing my first such note. As crisp as new. A tiny chink may be seen at the lower left corner and the right edge; however, not distracting....especially upon a note of this rarity.	Market Grade: UNC My Grade: AU	$795	Reverse Pic 2
1862	$100	T-41 CR-316 PCGS GEM NEW 66 PPQ	Serial # 93387. Dated December 8, 1862. Frame line goes all the way under "except". Plate "Y". An incredible T-41 in anyone's book. One could submit 1000 CU T-41's for grading and not have a single Gem New 66 come back so graded. Original embossing and simply an amazing T-41. No addition adjectives are needed. If you want the very best for your collection, here is a chance to acquire it. At auction, a note which would very likely bring far more than the price here listed.	PCGS GEM NEW 66 Premium Paper Quality	$550 SOLD	Reverse Pic 2
1862	$100	T-41 CR-316 Two Tallahassee IP	Serial #101096. Dated December 11, 1862. Frame line runs all the way under "Except". Most T-41's are A's; meaning that the frame line stops at "Except". Two pinholes, otherwise a solid T-41.	XF/AU	$155 SOLD	Reverse
1862	$100	T-41 CR-316A PCGS GEM NEW 66 PPQ	Serial # 92521. Dated December 4, 1862. Frame line stops at "except". Plate "X". Dated December 4, 1862. Another incredible T-41. Many consider the T-41 one of the most beautiful of all CSA notes. If not the most attractive, it is most certainly one of the most appealing. Superbly inked with surreal color and contrast. The grade defines the note better than I can. You may rest assured that it is much, much more difficult than one would think to locate a T-41 in a PMG or PCGS grading holder which bears the unheard of grade of Gem New 66. It is easy to see why the note also earned the PPG (Premium Paper Quality) designation. A superb Confederate Treasury Note.	PCGS GEM NEW 66 Premium Paper Quality	$550 SOLD	Reverse Pic 2
1862	$100	T-41 CR-317 ISSUED GALVESTON, TX	Serial # 114769. Dated December 15, 1862. "CSA" block letters watermark; frame line goes all the way under "except". An opportunity to acquire a scarce; Trans-Mississippi issued note at a very affordable price. No pinholes, chinks or ink burn with excellent color and clarity. T-41's issued in such locations as Galveston, Texas are extremely desirable and just do not appear on the market. Cut a bit tight at the upper left; as all of the Galveston issued T-41's from the small discovery hoard of around 9 notes from the 1970's are. Very pleasing and impossible to locate. A very solid T-41 and a note that you can't go wrong with. There are just not enough of these out there to satisfy collector demand.	Choice VF	$595	Reverse Pic 2
1862	$100	T-41 CR-317 RE-ISSUED HOUSTON, TX	Serial # 8950. Dated Sept 6, 1862 upon the face. Great color and contrast provide excellent eye appeal on this $100 CSA note that was re-issued in the Trans-Mississippi Department. These are very difficult to locate and I am fortunate enough to have two examples for your consideration. Note that the serial number upon this note (8950) is only 20 numbers away (8930) from the other T-41 listed here which was re-issued in Houston. Crackling crisp and fresh. From an old time collection assembled in the late 50's. As with most 7.30 notes, counting is evident at the right reverse. These $100 notes that were held by large cotton brokers, insurance companies and banks were stacked and "thumbed" (counted) from time to time. It is next to impossible to locate a high grade example that does not show counting. Trimmed tight at the lower right. two very small corner folds. Now is the time to acquire notes such as this one; as more and more collectors enter the market.	AU Market Grade: UNC	$450	Reverse Pic 2
1862	$100	T-41 CR-317A Neat Double Issue Stamps; Savannah	Serial # 43132. Dated November 5, 1862. Scroll one. Vertical "CSA" block letters watermark. A most interesting T-41 which was issued three times! First, in Richmond on November 5, 1862. The note traveled to Savannah, GA where it was again issued November 13, 1862 as shown by the round "John Boston" Issue stamp at the top reverse. Interest was paid for roughly two months in 1862 as is evidenced by the Interest Paid to Jan 1, 1863 Savannah IP stamp. For some reason the note was again issued by John Boston, the Depositary at Savannah as is illustrated by the second round issuance stamp on January 28, 1863. Interest was paid for the year of 1863 as shown by the second black, rectangular Interest paid stamp (Thru Jan 1, 1864). No interest was collected on this note for the year of 1864. A very intriguing T-41 with no problems.	VF+	$165	Reverse
1862	$ 100	T-41 CR-317A Two 1865 Jackson IP Stamps - One Crossed Out	Serial # 47464. Dated November 6, 1862. An unusual T-41 if I've ever seen one. The back of the note displays a large "Issued from Asst Treas. Off. Jackson, Miss. Jan 1, 1863". The larger issued stamps are not common; although this particular stamp is not rare. What I have never seen is the cancelling of an interest paid stamp. Note the Interest paid stamp for 1865 at Jackson that is not crossed out. The other stamp is the exact same stamp; although it is crossed out. An obvious case of human error. The person stamping the note could have been "shooting the breeze" with someone; looking at a pretty lady who brought the note in or something else that distracted him. The fact that there appear no Interest paid stamps for the year of 1864 would indicate to me that the note was not owned by a large company. Whatever the case, a most unusual execution error and one that is never seen. The extra ink on the back of the note comes from the agent taking a straight edge and marking the extra 1865 stamp out. As quill pens were used; it is not at all uncommon to see some splatter in this type of situation. Very well trimmed and crisp. Just a downright neat note and one that can stir the imagination.	CHOICE AU	$295	Reverse
1862	$ 100	T-41 CR-318 NAVAL ISSUED RED INK Felix Senac Confederate States Navy, Special Agent Atlanta, GA. Florida	Serial # 42349. Dated November 3, 1862. Scroll two, plain paper. Frame line runs all of the way under "Except". A very nice example of this scarce Confederate States Navy issued note. An extremely interesting history of Senac is to be found in McNeil's book on Trains and Hoers listed at the top of this page. Confederate Naval issued notes are just plain rare...period! The Navy did not have the rank of Quartermaster; instead the rank of "Paymaster". The only other 7.30 Naval note I know to be in existence is that of John J. McPherson. I have seen only two of those and have never owned one. Senac was born in Florida and enrolled there. He served at New Orleans, Jackson, MS; Savannah and Atlanta when this note was likely issued. The remainder of his service (1863-1865) was done abroad. It is interesting to contemplate where Senac may have really been when this note was issued, as it bears no interest paid stamps. This is rather unusual due to the fact that the note would have paid $7.30 interest until January of 1865 had it's owner been in a place to collect it. Irregardless, a well framed, totally problem free note. Printed upon very thin paper, which could have been easily damaged. This one isn't damaged in any way. "No 2" in brown ink may be seen at the far right side of the back. This ink is contemporary and I have no clue as to it's meaning. Not one pinhole. A wonderful opportunity to acquire a note issued by an officer in the Confederate States Navy.	VF	$750 HOLD	Reverse Pic 2
1862	$100	T-41 CR-319A MILITARY ISSUE RED INK Edgar Miller Captain & AQM Tennessee	Serial # 22335. Dated September 29, 1862. Scroll one, frame line stops at "Except". "CSA" in script letters watermark. A very nice example of this scarcer red ink military issue. Original embossing is present and visible throughout the note, although not evident in the scan. The note is trimmed poorly at the lower left. As may be seen by Miller's endorsement; it was this way when he issued it. The trim with regard to a tough military issue is not as much of a concern when compared to a non military issued T-41. This note is pure history and it was just this way when used during the Civil War. A tad splotchy from age, however superb clarity and contrast. A sheet crimp may be seen at the middle, left back which is as made. One horizontal fold. This is a note which looks much better in person than in a scan. The original embossing is amazing. Dated the same as the note illustrated in McNeil's book, although in a different hand. The endorsement is not in a different hand, as I am referring to the date on the front. The interest paid stamps are the same as well; with a super tough 1864 Knoxville, TN and an 1865 Augusta, GA. I would imagine that these notes were given to Quartermasters in packs of 100. They were disbursed as needed in the field and accounted for by the quartermaster. As mentioned elsewhere on this site, red ink was much more expensive than brown ink. Blue ink; rarely seen, was the most expensive and in very short supply, as was red. 99% of all manuscript endorsed notes will be in brown ink Beautifully endorsed : Issued 4 May 1863 Edgar Miller Capt. & aqm". The demand for notes such as this one is very high and far exceeds the supply.	XF+	$495	Reverse Pic 2
1862	$100	T-41 CR-319A Large Knoxville1863 Issue Stamp 1864 Knoxville IP	Serial # 62259. Dated November 20, 1862. Simply a gorgeous T-41. Bright, crisp and fresh as the day it was printed 149 years ago. Outstanding clarity and contrast of signatures and serial numbers. Upon the back of this note is located a large Issue stamp from Knoxville, TN. This is not an interest paid stamp; but rather an issue stamp. Such stamps may be found on notes issued from Richmond, Montgomery, Jackson, Charleston, Augusta and Savannah. Why other depositaries, such as Wilmington, Raleigh, and many, many others did not utilize such a stamp is unknown. Of these large issue stamps; Knoxville is a tough one. In addition, there is also a most desirable interest paid stamp through January 1, 1864 at Knoxville as well. Quite unusual, as this stamp was placed on the note by J.G.M. Ramsey, the Depositary Agent for Knoxville in Atlanta, GA. So; the note was issued on July 28, 1863 in Knoxville, TN and interest was paid from that date until January 1, 1864 in Atlanta, just a tick over 5 months later. The 1864 interest paid stamp from Knoxville has always been highly sought after. Coupled with the large Knoxville issue stamp, we have a very intriguing piece. A most interesting and desirable note. Two small sheet crimps are as made. Not one single problem and a beauty.	CHOICE CU	$275	Reverse Pic 2
1862	$100	T-41 CR-319A MILITARY ISSUE RED INK W.L. WICKHAM Captain & AQM ALABAMA GEN. A.S. Johnston	Serial # 22643. Scroll one. CSA script watermarked paper. Frame line stops at "Except". Dated September 29, 1862. Fully framed with superb color and contrast. This particular "CSA" watermark is amazingly vivid and clear. Much more so than the average script watermark. Very crisp and bright. It would appear that a couple of drops of water hit the bottom portion of this note; leaving the white appearance in that area. Either that, or this is the way the paper was made. Irregardless, it is not distracting; especially upon such a desirable note like this. Two Augusta, GA interest paid stamps are located upon the back. Further, the Military endorsement appears there as well. In red ink "Issued 2 April 1863 W.L. Whickham Capt & aqm". William L Wickham was; at the time this note was issued, an assistant Quartermaster serving under General Albert Sidney Johnston. A wonderful military note issued in the field with a good bit of original embossing remaining. Most Military issues were done in brown ink, as it was much less expensive then red or blue. Red ink military issues are highly prized among collectors of these wonderful pieces of history. A wonderful piece.	CHOICE VF+	$450 SOLD	Reverse Pic 2
1862	$100	T-41 CR-319A Very Scarce 1865 Black Macon Interest Paid stamp	Serial # 4242. An unusual date of August 30, 1862. "CSA" in Script letters watermark. Printed upon paper made in Bath, South Carolina, near Augusta. Bright, vivid and crackling crisp. An 1863 IP stamp for Augusta, a red 1864 IP stamp at Macon and an extremely rare, black 1865 IP stamp at Macon. These are always red. Perhaps the collecting of 7.30 notes has not come far enough yet; although the rarity of this piece is well documented. One of the very few 1865 black Macon Interest Paid stamps I have ever seen.	AU+	$375	Reverse
1862	$100	T-41 CR-320A CHOICE San Antonio, TX Issue. Manuscript.	Serial #22893. Dated September 29, 1862. Scroll two; vivid "CSA" in script letters watermark which is perfectly centered running from left to right from the face of the note. No average San Antonio, TX note here. Original embossing and as crisp as new. Sheet crimp and a couple of very light folds. Superb eye appeal. The best I've seen in many years.	XF+/AU	$550	Reverse Pic 2
1862	$100	T-41 CR-320C Extremely Rare Double for Treasurer 6th Finest Known	Serial # 65388. Dated Nonmember 20, 1862. Plate "Z". Scroll Two. "CSA" script letters watermark. Double for Treasurer. Central vignette of Slaves hoeing cotton. Large rectangular Issuance stamp from Jackson, MS and tough blue Interest paid stamp through Jan 1, 1865 from Columbus, MS on back. One of the great "error" notes of all Confederate Treasury notes. This note; graded Extremely Fine 45; "PPQ" (Premium Paper Quality) by PCGS sits easily among the top ten known of this most desirable and elusive piece. Fricke's tome lists the number 5 note in the condition census as AU, followed by the number 6 note, at VF. As crackling crisp and fresh as the day it was printed. Original embossing and dead solid perfect trim. Minor handling and a great rarity which will surely continue it's upward spiral in value. Excessively rare in any grade; much less this nice. Simply a beautiful piece and one which would fit into the very finest of paper currency collections.	XF+ Extremely Fine 45 PCGS PPQ	$3400	Reverse Pic 2
1862	$100	T-41 CR-322A J. Whatman- Choice	Serial # 102911. Dated December 11, 1862. Scroll two, frame line stops at "Except". J. Whatman, 1862 watermark. An incredible example of a T-41 bearing the elusive J. Whatman watermark. This paper was imported from Britain in 1862. I should say smuggled through the Union Blockade of Southern ports. Manufactured at Maidstone, Kent. The watermark only appears in one position per sheet of 8 notes and a limited number of sheets were used. I have watched throughout the years as J. Whatman notes have steadily risen in price and become very difficult to locate. They are near impossible to locate as nice as this example. A gem note with a watermark that can be seen from across the room. One would have to hold this note in your hands to appreciate this fact. In "Pic 2". I used a black background which gives the note a very bright, hubcap appearance. Such is not the case. All J. Whatman's are not created equal with regard to the visibility of the watermark. Most are somewhat difficult to see, while others are very, very hard to see. Not this one. This is the finest J. Whatman I have had to offer in years. Very scarce this nice in this day and time.	CHOICE CU	$525 SOLD	Reverse Pic 2
1863	$100	T-41 CR-326A MILITARY ISSUE James G. Paxton Lynchburg, VA	Serial # 161458. Dated January 5, 1863. Scroll two; plain paper. This is the variety with the little "T" to the right of the left serial number. "Issued Jany 30, 1863 / James G. Paxton, Maj & QM (Quartermaster). Always elusive, and becoming much more so since the publication of Mike McNeil's book listed at the top of this page. One prominent center fold. Original embossing and fully framed. Add the January 1863 date to the military issuance and you have a very collectible note. Paxton was in the Lynchburg, VA area when this note was issued.	XF/AU	$450	Reverse Pic 2
1863	$100	T-41 CR-326A Green Bogus Back X-Western Reserve	Serial # 166082. Dated January 6, 1863. Scroll Two, frame line stops at "Except". Plain paper. Dated only two days before the end of the printing of T-41; with the last possible date being January 8, 1863. From the superb Western Reserve Collection auctioned by RM Smythe a few years ago in NYC. Bogus backs have always been intriguing and to this day, their purpose has yet to be proven. There are those who are of the opinion that these backs were post war and those who opine differently. I do find it interesting that so many of these bear the same interest paid stamps. This is a subject which deserves more study or commentary than can be provided here. When encountered; bogus backs are most always found upon the back of T-39 and T-40. I have handled very, very few T-41 bogus backs over the years. This one has a different style back than that usually seen on T-39 or T-40. Crisp, bright and problem free, this note is cut just a tick tight at the top. Old Bradbeer (1915) numbers may be seen on the note itself, not an uncommon practice in the very old days of collecting. This number could have been placed upon the note by Western Reserve Museum curators or perhaps before the Museum acquired the piece. Grover Criswell's book is based upon the work of Bradbeer and many; if not most, of the numbers are the same. Advanced collectors are well aware that old Bradbeer numbers do not detract from a note's value. I see a very tiny corner fold at the lower right reverse. A scarce T-41 which also bears an 1863 issue date. Superb provenance.	AU+	$650 SOLD	Reverse Pic 2
1862	$ 2	T-42 CR-335	Serial # 27473. First Series. An incredible T-42. Very rarely found in high grade; and when found; the trim is most always terrible. None of the so called CU T-42's I have seen in the last couple of years are truly CU. Printed very close together on the sheet and seldom found in this state of preservation. Wood pulp paper was used; thus pinholes are common even on a new note. This note bears none. A note that gets more expensive every year.	AU+/UNC	$595	Reverse
1862	$ 2	T-43 CR-338	Serial # 50678. Green "2 TWO" overprint. Totally problem free and a most presentable example of the issue. T-43 is extremely difficult to locate in high grade, with the most recent note graded XF I saw cross the auction block bring over $15,000. This issue just does not exist in high grade. Fewer T-43's exist than do T-42's (with no green overprint). The printer, Blanton Duncan soon found he was not going to be compensated for adding the green overprint and quickly discontinued applying it. The note here offered is very sound; with no pinholes, chinks, tears or any other problems. If you desire an example above this grade; be prepared to wait a long, long time and spend several thousand dollars. A very solid note and worthy of any type set.	F/VF	$650	Reverse
1862	$ 1	T-44 CR-341	Serial # 50799. A most appealing example and extremely difficult to locate in high grade. T-44 had just about everything you can think of working against it's survival rate in high grade. First: T-44 was a low denomination note. Thus, it circulated heavily in everyday commerce. Unlike the higher denominations of $100 or the like; common folk used this note and used it a lot. Second: T-44 was printed upon very low quality paper made up from rags or wood pulp. Consequently, it is not uncommon to observe paper imperfections upon the highest grade examples. This paper did not wear well and when added to the fact that the note circulated heavily; the extreme difficulty in locating well preserved examples today becomes apparent. Third: Paper was in short supply in the South; especially when the Union Blockade became effective...just around the time this note was printed. In order to conserve paper, as many notes were printed upon a sheet of paper as possible. Nowhere is this more apparent than T-44; T-45; T-42 and T-43. I have had the privilege of handling a few uncut sheets of these over the years and can assure you; there is absolutely NO space between the uncut notes upon the printed sheets. 146 years ago; the Treasury Department of the Confederacy was much more concerned with getting these notes into circulation than with how well they were trimmed. Even now, if one were crazy enough to cut up a sheet of these (provided you could find one) it would be very difficult. One could spend many hours trying to cut these correctly and not get them right...as there was just no room between the notes. Now, imagine trimming these 146 years ago with large shears in some barn or building where the temperature was over 100 degrees. To locate an issue that is even decently trimmed is a feat today. The surviving examples in high grade are just mere coincidence, a miracle of survival if you will. The note here offered is 99.99% fully framed. Further, it has no pinholes or "texture flicks" common with these small denominations. One may notice a natural paper striation when viewed from the back. This is not distracting and is difficult to even see when viewing the note in person. It is well inked with bright, bold signatures and serial number. Superb contrast and eye appeal. No bleed through or other problems. To acquire an example better than this note, one will need an infinite amount of patience. A superb T-44.	UNC+ NEARLY CHOICE	$575	Reverse
1862	$ 1	T-44 CR-341	Serial # 51386. Snow white with superb color and contrast. Excellent detail and a well above average example. The trim is not quite "all there", although there are no folds, no pinholes or other problems of any kind. See the above note for a lengthy discussion of survival, trim and other issues concerning T-44, T-45. etc.. A nice piece which saw no circulation. Crackling crisp and bright as new. A more than suitable T-44 which may be obtained without "breaking the bank". Darn near impossible to locate nowadays and undervalued in this writers opinion.	UNC	$345	Reverse
1862	$ 1	T-44 CR-341	Serial # 33235. Another very desirable example of this elusive issue in this state of preservation. No problems of any kind; such as pinholes, texture flicks; chinks or the like. The down stroke of the signers name from the note above may be seen to the left of plate number "4" and the right of the second plate number. This may also be seen from the back of the note; however you may rest assured there is no bleed or burn. Exceptionally nice trim for T-44. For a longer discussion of the frequently encountered problems associated with this issue; please see the note above (serial # 50799). Crisp, bright and fresh with plenty of detail. Nice legible signatures and serial number. Very difficult to locate this nice	UNC	$365	Reverse
1862	$10	T-46 CR-343	Serial # 72830. This variety has the "s" after months. Very well inked with excellent clarity and contrast. Not one single fold or pinhole. Cut a fraction tight at the middle bottom or this note goes to Choice CU. Very difficult to tell that this note is cut cancelled. A superb example at a fraction of the price that an uncut note would cost.	UNC C/C	$350	Reverse
1862	$100	T-49 CR-347	Serial # 7968. No Series. Plain paper. A very presentable T-49 directly from a collection formed in 1933. There is a little piece of paper that is with this note indicating what the collector paid in 1933 which is included with the note. The paper says "Mrs. Pickens 1862" $1.75". A time machine would be nice about now! Cut a tick tight at the upper right from the front; otherwise no problems such as stains, spots, pinholes, etc. that one might expect to find at this grade level. A whole lot of T-49 for the money and as clean as a pin.	VF	$375	Reverse
1862	$100	T-49 CR-348 PMG XF-40	Serial # 6667. No series with "CSA" surrounded by wavy line watermark. Superb trim with excellent eye appeal. two extremely tiny margin chinks at top; which has to be the reason PMG only graded this note XF-40. Otherwise; no problems. Clean as a pin with superb color and contrast. One of my favorites; especially the back design. An opportunity to acquire a very, very nice T-49 at true bargain. Fully framed. A beauty.	PMG XF-40	$525	Reverse Pic 2
1862	$100	T-49 CR-348 PMG XF-40	Serial # 108700. No series. "CSA" with wavy line watermark. Fully framed and a lot of note for the money. CU examples of T-49; when located, will cost at least $1200. The grading services are tough on Confederate Treasury notes at this grade level.	PMG XF 40	$550	Reverse Pic 2
1862	$100	T-49 CR-348	Serial # 59236. A gorgeous note, acquired from a collection assembled in the 1950's. The original embossing is incredible and does not show up on the scan very well. Believe me; it's present and present plenty. The note has slight handling, although nothing out of the ordinary. There is a corner fold at the lower left; which in my opinion, occurred sometime after the note was acquired. The reason I say this is that the note is dead solid perfect. Perfect trim, centering upon the back; well inked, watermark is in dead center and when compared to other notes that came from this collection, it is not typical. I believe the note was bumped or dropped somewhere in time. Were this fold(s) not present at the lower left corner from the back; you would easily be looking at a $1200-$1400 note. A beauty.	CHOICE AU	$850	Reverse
1862	$100	T-49 CR-348	Serial # 67877. No Series. "CSA surrounded by wavy line watermark. Jumbo margins all the way around. Crackling crisp and fresh; I don't think this note saw any circulation. Many notes were mishandled in the near 150 years after they were printed. This note appears to be no exception. A couple of corner folds and three very light body folds that distract very little. Superb clarity and contrast. If you are looking for a very, very nice mid-grade T-49; here it is. No pinholes or other problems. Original embossing throughout.	VF+/XF	$515	Reverse
1862	$50	T-50 CR-357	Serial number 5248. "3d Series". Engraver's name at Columbia, S.C. above "Fundable" to far left. Two flourishes under "de" of Confederate. An exquisite example of this extremely difficult issue. Crackling crisp, fresh and bright with superb color and resulting eye-appeal. Unparalleled contrast and clarity. A minute corner fold shows with the aid of magnification. Superb.	CHOICE AU+	$975	Reverse
1862	$20	T-51 CR-363	Serial # 79625. Central vignette of the Tennessee State Capitol Building at Nashville. Alexander H. Stephens, Vice President of the Confederate State to the lower right. An incredible T-51 and one of the best I have ever seen. As most collectors know, the T-51 is notorious for not being well trimmed. It falls into the same category as the T-7, T-17, T-61 and a few others. This note is almost NEVER found well cut. This scarcer variety is a very pleasing exception. As crisp and fresh as the day it was printed, with razor sharp corners. Cut cancelled; although c/c notes of this caliber reside in some of the best type sets in the country. Deep blue ink register upon the back. When it comes to a T-51, you can't go wrong here, cut cancelled or not. Simply amazing.	CHOICE CU-CC	$325	Reverse
1862	$20	T-51 CR-363	Serial # 77292. Plenty of "pop" and crystal clear. No pinholes, with superb trim. A choice example exhibiting large, bold signatures and no problems. Blue printers ink is observable upon the back, at the lower right. It seems as though it says something, although I can't make it out. If so, it would be the first time I have ever observed anything like an engravers name upon a T-51. Sure to please.	XF-CC	$145	Reverse
1862	$2	T-54 CR-392	Serial # 17971. A very high quality of this "pink" 1862 low denomination issue. Bearing a portrait of Judah P. Benjamin, Confederate Attorney General (1861), Secretary of War (1861-62) and Secretary of State (1862-65). Benjamin escaped to England at War's end and practiced law there. As crisp, bright and fresh as they come. No problems whatsoever with superb inking and contrast. The note is trimmed just a "tick" tight at the upper left front; otherwise it goes choice CU. No ink bleed through or burn. Well above average trim for the issue. Bright, bold signatures and serial number. A most presentable example and a note which may be acquired for $100 less than a perfectly trimmed example (if you could find one).	UNC	$250	Reverse

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