Watch List notes:

CSA, T-4, $50, May 22, 1861, Cr-4, PF-2. No. 1319, A. Montgomery. Black on green. Slaves hoeing cotton, center. Printed by the National Bank Note Company in New York, just before hostilities broke out. This is the last type issued out of Montgomery, Alabama, as the capital of the Confederacy soon moved to Richmond. The controversial subject matter of the central vignette adds to the historical interest of the type. The endorsement on the back reads "N. Orleans June 1oth 1861 A. J. Guirot Asst Trs CS [Assistant Treasurer of the Confederate States.]." This is a scarce signature. PMG Very Fine 25..

Estimate: $7500-12500