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US Paper Money – Rare T-4 $50 “Montgomery” at Stack’s Bowers ANA Auction

By Brad CiociolaCurrency Specialist, Stack’s Bowers ……
CSA, 1861 T-4 "Montgomery" $50. Image courtesy Stack's Bowers

One of the “Big Six” of Confederate Currency, the T-4 1861 $50 was the last of the four Confederate Treasury notes to be issued while the Confederate capital was located in Montgomery, Alabama. These high-quality notes were produced by the National Bank Note Company and bore interest at a rate of one-half cent per day. Fewer than 200 of these notes exist today.

Our upcoming Stack’s Bowers Official Currency Auction of the ANA World’s Fair of Money will feature an example of the popular T-4 $50. The note, serial number 1139, is known to the census and is a solid Very Fine. The green tint remains bold and the design elements are all sharply printed. This $50 comes well cut and completely uncancelled. The back shows an issuing manuscript by a Captain Williams, Assistant Commissary of Subsistence.

PCGS has graded this note Apparent Very Fine 20. The grading service notes “stain on face at top left of center” on their holder. The stain appears to be from some sort of period ink. Still this remains a very desirable example of a classic Confederate currency rarity and will carry a pre-auction estimate of US$10,000-$15,000.

The Stack’s Bowers Official Currency Auction of the ANA World’s Fair of Money will take place August 10, 2016 in Anaheim, California and our Internet session will take place August 15. We are currently accepting consignments to our November Official Auction of the Whitman Coin & Collectibles Winter Expo in Baltimore, Maryland. If you are interested in consigning, or have a currency-related question please contact Currency Specialist Brad Ciociola at [email protected] or Director of Currency Peter Treglia at [email protected].

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