Watch List notes:

CSA. T-11. $5. July 25, 1861. Cr. 44. PF-4. No.18230. Bb. Sailor, left. Liberty, eagle, on shield. Blue "P." Thick bond paper. Good details. Extensive repairs. The thick bond paper was a poor choice for bank notes, resulting in splits, tears and body holes that are typical for this issue. The survival rate for undamaged pieces is not high, and many collectors are left with the choice of buying "fillers" like this one, or nothing. This note looks VG at first glance.

($100-150)