T-1 $1,000 Montgomery

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Confederate Items

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T-1 $1,000 1861 Montgomery
Grade: PCGS XF 40 Apparent    

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The market for rare Confederate notes is certainly robust, as a January auction proved. This specimen is not from that sale, but an example in the same grade realized $37,375 just three months ago. There is no reason why this fully equal specimen shouldn't fetch as much. The T-1 is an icon in United States paper money and its appeal far transcends Confederate Currency. The holder reports "edge tear at bottom left of center, hole punch, and cross-cut cancelled". The 'tear' extends from one of the punch cancellations and occurred at the same time. Signed by Clitherall and Elmore (namesake of an Alabama county) who challenged a newspaper editor to a duel after the paper claimed that Elmore had a gambling problem and was embezzling funds from the Confederated Treasury. A quick shot from Elmore's derringer put an end to both the editor and any investigation.

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