1862 0 Confederate States Note – PMG Very Fine 30

Description

1862 0 Confederate States Note – PMG Very Fine 30
Offered for your consideration is a 0.00 Civil War era note issued by the Confederate States of America, cataloged by the late Grover Criswell as a T-41. The central vignette features a scene depicting three field hands at work, two hoeing/weeding and the third carrying a large basket filled to overflowing with the results of their labor. The plants have been identified by various researchers as cotton, peanuts, and sweet potatoes, though the exact type is probably not too important. The location,
“Richmond”
, and the date,
“
Dec 18
186
2
”
, appear near top, to the left and right, respectively, with the serial number repeated on both sides. Also flanking the vignette, and completed below, is a lengthy financial obligation which states that
“Six Months after the Ratification of a Treaty of Peace between The Confederate States & The United States of America THE Confederate States of America Will pay to the bearer on demand ONE HUNDRED DOLLARS WITH INTEREST AT TWO CENTS PER DAY”
. This is followed by the signatures of
“G Johnston”
(Gabriel Johnston) and
“W L Harvey”
(William L. Harvey), who signed
“FOR REGISTER”
and
“FOR TREASURER”
, respectively. The denomination appears in the upper corners, while additional vignettes dominate the lower left and right. These vignettes feature a portrait of John C. Calhoun, an ardent Secessionist, in an oval frame at the left, and a standing female figure representing the Confederacy at the right. Below this figure is a statement which indicates that this note was
“Receivable in Payment of All Dues Except Export Duties”
. An orange
“HUNDRED”
protectorate appears atop the lower portion of the financial obligation, added to make it more difficult to counterfeit the issue. The back of this note, in common with many notes of this era, was originally blank, though most of the time they bear either stamps or manuscript endorsements. These manuscript endorsements (or stamps) were applied yearly whenever the interest was paid or when the note was originally issued (this issuance date would indicate the beginning of the interest accumulation). The presently offered specimen features one large black stamp stating “
ISSUED FROM / ASST. TREAS. OFF. / JACKSON, Miss.
”, as well as the date “
FEB
/
5
/
1863
”, as well as a smaller stamp which reads “
INTEREST PAID TO
/
1 JULY 1863
”. The note was printed by
“Keatinge & Ball. Columbia, S.C.”
, as evidenced by their imprint at the lower left, on “
CSA
” block letter watermarked paper (only the “
A
” is visible - twice). It was hoped by the Confederate financial officials that by paying interest on these notes, the recipients would be hesitant to use them as currency, as the interest was paid to the bearer of the note. This meant that if you transferred the note as part of a transaction, you gave away the interest as well. It was thought that the public would receive these notes and store them away, thereby reducing the amount of actual circulating currency. The number of heavily circulated notes of this type seems to indicate that this idea was not entirely successful. Later in the war, the Confederate government actually converted these notes into bonds (since they accrued interest), thereby making them collectible as both currency and bonds. A great piece of Confederate financial history, worthy of inclusion in any currency or bond collection.
This note has been professionally graded and encapsulated by Paper Money Guaranty as
“Very Fine 30”
, with no additional notations on the holder. This note exhibits irregular edges, with reasonable amounts of selvage in some areas and almost none in others (the top and lower left edges are cut into the frame-line and design). Toning is noted across the entire surface, imparting to the paper a tan to light brown hue, with a several darker stains scattered throughout the design. Minor ink corrosion can be seen at the signatures and the date, due to the acidic nature of the ink and the quality of the paper used. Corrosion from the applied interest stamp is noted at the left. The contrast is average for the issue, with the protectorate being somewhat lighter than typically encountered (possibly a result of the original mixing or application of the ink).
Numerous folds and associated wrinkling can be easily detected, especially when the note is viewed from the back. A nice addition to any Confederate currency or bond collection (remember, this note did accrue interest).
A .95 charge will be added to the winning bid for postage and insurance.
A .00 charge will be added to any item picked up in person at our physical location.
If you have any questions regarding this item, please ask before bidding.
Buy or Bid with Confidence – American Coins & Collectibles President Richie Self has worked 6 years as a paper money grader/authenticator. He has contributed to numerous reference books within the industry, as well as being a co-author of “The Comprehensive Catalog and History of Confederate Bonds, 2
nd
Edition” with Douglas B. Ball, Ph.D., Henry F. Simmons, M.D., Ph.D. and James R. Desabaye. Mr. Self is a life member of the American Numismatic Association, the Society of Paper Money Collectors, as well as numerous regional numismatic associations. He is an authorized submitter to NGC, PCGS, and PMG, a diamond founding member of Coin Dealers Helping Coin Dealers and a supporter of the Industry Council for Tangible Assets. American Coins and Collectibles can be found at many of the state and local coin shows.
American Coins and Collectibles
Shreveport, LA