LOT Heritage Rare Coin Galleries  /  2007 Jan (FUN) Heritage Sig. Currency #424  / 

14546

Fr. 212 $50 1864 Interest Bearing Note PMG Very Fine 30

Currency:USD Category:Coins & Paper Money / Paper Money - United States Start Price:18,750.00 USD Estimated At:60,000.00 - 90,000.00 USD
Fr. 212 $50 1864 Interest Bearing Note PMG Very Fine 30
<B>Fr. 212 $50 1864 Interest Bearing Note PMG Very Fine 30 EPQ.</B></I> Three-Year Interest Bearing Notes were issued under the same act that introduced Demand Notes and were issued in the denominations of $50, $100, and $500, $1,000, and $5,000. Each note paid 7.3% and had five coupons attached that were redeemable for the accrued interest in five equal disbursements. The Act of June 30, 1864 allowed the printing of this $50 denomination as well as a $100 and $500 denomination.<BR><BR>Currently only seven examples of this 1864 $50 issue are known to collectors, and after having handled three other mid-grade examples, we can support the Hessler-Chambliss statement that this is the finest of surviving pieces. This example was graded About Uncirculated when it first appeared in 1964 as part of the William A. Philpott Collection and we can certainly see why, as the colors and paper quality are truly exceptional for a note of this issue. PMG has recognized this as well, noting on the holder "Exceptional Paper Quality" and "Great Color" The vast majority of Interest Bearing Notes show at least some restoration work, but this specimen is utterly free of any trace of even the most minor restoration or "improvement." With truly rare notes setting new price records at every offering, look for this important type note to see bidding easily reach and likely well exceed...<BR><BR><b>Shipping:</b> Coin/Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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