Confederate States of America in blue. PMG Very Fine 20 Net! Great color for the type and grade.
This issue is known as the Manouvrier note, named after the printer, J. This is the only 1861 issue with a printed back, and the only Confederate note with the words Confederate States of America on the back. It is a basic design and was thought to be easily counterfeited. The note is dated July 25, 1861. The T-12 comes on decent quality bank note paper.Bradbeer assigned variety numbers to each plate letter, which Criswell carried forward. I believe this is an incorrect categorization.
As they were all on the same plate, T-12 has one variety with 4 plate letters, F, G, H and I. There is a small hoard of about twenty T-12s in AU to Uncirculated in the 1755 to 1785 serial number range. Included amongst these are some or all of the four General Sherman notes that were presented to him by the U. Government upon his retirement from the Army. There are a scattering of other Choice XF to Uncirculated examples known.
I is the toughest to find in high grade. A good number of T-12s have minor repairs and/or have been cleaned up.
A trivial repair or a good cleaning that is not readily apparent does not hurt a T-12 much, perhaps half a grade. T-12s were cut better than the Hoyer & Ludwig Second Series notes described above. Nevertheless, fully-framed, high grade T-12s are difficult to find and are worth a premium.There are no known contemporary counterfeits of this type. A note about 3rd party grading. PCGS and PMG do a good job putting a floor on quality within a grade range and have become proficient in detecting repairs (though occasionally they miss something, or see something that is not there, as we all can). Notes housed in Net or Apparent holders have a wide range of quality from very nice (in rare cases may be nearly choice) to dogs with major problems, so each needs to be evaluated on their own. However, PMG and PCGS focus on technical grading due to circulation and damage and do not have a mechanism for evaluating condition or eye appeal - whether a note is average, better than average, choice or gem for the grade based on its color, trim and margins.
The exception to this are slabbed notes of New or Uncirculated grades to some degree. This is important as Very Fine, Extremely Fine or AU notes can have a wide range of values depending on these factors not reflected in the slab grade. A fully framed Confederate or obsolete note is worth considerably to a lot more than one that is trimmed into the margin for the same grade. These factors can affect the value of a note by 50%, 2-1 or even 3-1, e.
I will continue to use the terms plus for above average, choice and gem to mean varying degrees of superiority of condition and eye appeal of a note within a grade as documented in my book which is based on what collectors seek out and pay premiums for. In coins, weve seen the third party graders add things like full bell lines, full head, full bands which reflected the market.Additional states are being added like Idaho and more than 20 others. The item "T-12 PF-1 $5 Confederate Paper Money 1861 PMG Very Fine 20 Net" is in sale since Sunday, July 5, 2020. This item is in the category "Coins & Paper Money\Paper Money\ US\Confederate Currency". The seller is "armynova" and is located in San Antonio, Texas. This item can be shipped to United States, Canada, Mexico, Bermuda.