Ultra Rare $50 1863 LT Newly Assigned Fr. 150

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Large Size Type Notes > Legal Tender

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Fr. 150 $50 1863
Grade: PCGS VF 25 Apparent    

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This is one of the rarest of all issues of $100 or less. The entire type consists of both 1862 Series notes, of which there are 27 serial numbers recorded, and the new obligation notes, with only 18 examples reported. The total of 45 examples may include some questionable listings. This note is listed on the census but it's clearly listed incorrectly as numbers have been expanded. Now a Fr. 150b New Series 1 with the Act of March 3, 1863 and June 1857 patent date at the left. At least six of the Fr. 150s listed are now Fr. 150b. Yet this note will be the first to have the newest designation. This note is clearly the seventh best as the top six are clearly better and the lower clearly not as nice. The grade of VF 25 Apparent for minor restoration seems fair as this paper was always fragile and splits or cracks can never be far away. In all varieties there are only two other examples that offer a similar quality and they have been unavailable to the market for decades. The last XF 40 brought $182,125 in 2013. I believe the estimate provides a solid range of value for this pleasing circ example with a couple of splits that were closed to avoid further issues. PCGS notes: minor restoration. From the Cleveland Collection.

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