Watch List notes:

Confederate States 1861 T-12 PMG Very Fine 20 5 Dollars

So-called "Manouvrier" note, after the printer, who only printed this (and reportedly a $10 that was never issued) type for the Confederacy. Fricke mentions that the simplicity of the design was not well received in Richmond, and the notes were thought to be easily counterfeited. As such, this is a short-lived type that is the only 1861 issue with a printed back. A fairly low 3-digit serial number is noted, although the issuance of this type was small, with just 15,556 issued. These were handcut from the sheets before issue and fully margined examples, such as seen here, are very scarce. Problem-free with no repairs often seen on this type, and no doubt missing from many advanced collections.