Benjamin to the left. South striking down the Union in the center. Legacy Currency Grading Very Good 10. A few pin holes not mentioned on the holder. Nice trim for the type in this grade. It bore the erroneous date of September 2, 1861 as Blanton Duncan believed this note to have been part of that Series by mistake. It was quickly corrected to the proper date of June 2, 1862 (see T-42). Some believe this is not a true type, but rather a variety of T-42. I share those sentiments. However, it has long been collected as a specific type, and it is presented as such here. The center of the note presents an allegorical. Design representing the South striking down the North. This design presented the North as an eagle because the South believed it to be the aggressor. The upper left corner features a vignette of Judah P. Benjamin, a noted Jewish lawyer and statesman. He was Secretary of War, and later, Secretary of State for the Confederacy. This type comes on lower quality paper. Many of the notes are found age toned, or spotty and stained. Most were heavily circulated, and this type is very difficult to find in true Fine. It is extremely rare in any grade above that. They are common in Good, and somewhat available in Very Good. Choice pieces in any grade are extremely difficult. Most have a good number of pin and larger body holes naturally. Many have been repaired due to their scarcity. There was a relatively recent discovery by Stephen Goldsmith of a new counterfeit type, CT-38 which is unique. 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. Likewise, color is important. 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-38 PF-1 $2 Confederate Paper Money 1861 LCG Very Good 10 rare type” is in sale since Sunday, August 29, 2021. 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.
- Country/Region of Manufacture: United States
- Certification: Legacy Currency Grading
- Date: September 2, 1861
- Grade: 10
- Type: 38
- Circulated/Uncirculated: Circulated
- Denomination: $2