T5 $100 1861 PF-1 Cr. 5 PMG Choice Extremely Fine 45 EPQ. ...
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T5 $100 1861 PF-1 Cr. 5 PMG Choice Extremely Fine 45 EPQ. Upon hearing that National Bank Note Co. (along with ABNCo) in New York City had been raided and shut down by federal agents, Secretary Memminger immediately dispatched an agent to New Orleans who carried the last $50-$100 sheet of Montgomery notes, bearing serial number 1607 with him. The agent's mission was to find a new bank note supplier for $50s and $100s. The tiny New Orleans branch of the ABNCo was chosen, but was destined to fail because it was never intended to design or produce very large quantities of bank notes. Indeed its traditional mission was likely to focus on the many opportunities afforded by the New Orleans and nearby markets. Predictably, the understaffed and underequipped branch struggled to meet both time and quantity demands put upon it from the Confederate government. Ultimately, Richmond turned to poorer quality lithographed notes produced by Hoyer & Ludwig and other southern suppliers. Although deemed a commercial failure (only 5,798 notes were ever issued), the $50 and $100 notes produced under the banner of the Southern Bank Note Company (an old trademark from the 1830s-40s dusted off to provide the branch's New York parent some plausible deniability and cover from the bad optics of being seen as providing material support for the "enemy") were artistically pleasing, with pre-war vignettes of Justice, a passenger train, and Minerva as well as a green C-HUNDRED-C protector making up the design. An important note for type set collectors, with great appeal and history. HID08101242017 www.HA.com/TexasAuctioneerLicenseNotice
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