Rare 50c Replacement Note

---

Military Payment Certificates

---

---

Series 481 50c Replacement
Grade: PMG VF 20 Net    

---

First printing. There is rare and then there is rare. A mere eight examples in the Chambliss census for this crushingly rare replacement note. There is some minor ink restricted to the broad upper right corner margin area. The Green Sheet shows a value of $1,500 in VG 8 with nothing better. The only other auction result we can find in recent years was a VF note that sold for $2,800 several years ago.

---