T6 $50 1861 PF-1 Cr. 6 PMG Very Fine 25 EPQ. ...
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T6 $50 1861 PF-1 Cr. 6 PMG Very Fine 25 EPQ. The New Orleans branch of the ABNCo took on the task of designing and producing $50 and $100 notes to replace the production lost when the plant of the National Bank Note Company in New York was raided in April 1861 by authorities who shut production down and confiscated the plates. The small branch, which had only a handful of employees and minimal equipment, was hard pressed to design a complete bank note and produce it in relatively large quantities. Only 5,798 $50s were issued between August 25 and September 23, 1861, before production ceased and the branch's efforts were directed to other designs. The $50 has a vignette of Agriculture and Industry seated on cotton bales representing the importance of cotton to the South. Another vignette of Justice standing is at left and an oval portrait of Washington is at right. Green L counters and a green FIVE security panel complete the design. The note is well printed on red fiber paper and has earned PMG's EPQ quality designation, seldom seen at this grade level. HID08101242017 www.HA.com/TexasAuctioneerLicenseNotice
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