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Confederate T-2 1861 $500 featured in Spring 2022 Auction

Our Spring 2022 U.S. Currency Auction is shaping up to be quite impressive and the Confederate Currency selection has several interesting notes. Besides the $100 note we featured in last week’s article, we’re pleased to offer this T-2 1861 $500 in PMG Very Fine 25.

The Confederacy issued 607 examples of this Montgomery $500, and today, a little over a hundred are reported to exist. The T-2 was engraved and printed by the National Bank Note Company in New York and features neatly penned signatures of Register of the Treasury Alex B. Clitherall at left and Treasurer E.C. Elmore at right. On the reverse are two manuscript endorsements. The top endorsement is in pink ink and appears to read ” Issued July 15, 1861 Mark Jackson Cap / Csa.” The bottom endorsement is very difficult to decipher but appears to read “New Orleans Aug 20/61 Recd from ___ five hundred from 80/100 dollars principal interest”.

The T-2 is widely regarded for its artistic beauty (thanks in part to NBNC). Ceres, the goddess of agriculture is shown in the lower left. The central vignette, designed by James Smillie, is titled The Crossing and features a steam locomotive with cars in tow crossing a bridge over a river with cattle watering themselves as a man on horseback looks on. The note has bold green security and border prints and intricate die counters in dark black ink. The quantity of “500”s on the face design is staggering, and one could easily get lost trying to count them all. The example in our Spring auction offers good appeal for the assigned grade and would easily be the center of any Confederate collections. PMG comments “Rust, Corner Tears.”

We are currently taking consignments for our monthly auctions and Spring Whitman Expo Auction. To consign your U.S. paper money and world paper money to a future sale, contact a consignment specialist at 800-458-4646 or visit StacksBowers.com. For more information on viewing lots or for assistance in registering to bid, email your inquiry to: [email protected] .

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