||Columbia, SC - State of South Carolina $10 Jan. 1, 1866 Cr. 04. PCGS Very Fine 25. A fully signed and issued example of the first Reconstruction era notes from South Carolina, engraved and printed by the American Bank Note Company. The entire series was once extremely rare and formerly rated Rarity-11 in Shull-Criswell (2-4 known). However, cut-cancelled remainder sheets with one signature were dispersed by a state agency within the past six years and the rarity is now substantially less, perhaps Rarity-3 (2,501-5,000). However, the vast majority of these are heavily cancelled. This example is fully issued and unquestionably had been considered a four-figure note at one time. At the center is a South Carolina scene with the Rescue of Sgt. Jasper and Sgt. Newton representing the 1779 deliverance of group of Patriots from their British captors. At the bottom left is Daniel Morgan and at lower right, the portrait of a young woman with a flower in her hair; both face the center, appearing to look across the note at one another. The "X" protector flanking each side of the vignette, and the guilloche below are in green. The security back, also in green, shows STATE OF SOUTH CAROLINA in the center, flanking large "X" dies. A very handsome type. Fully signed and issued, not a cut-cancelled remainder note from the hoard. An important note for specialists, with full signatures and no cancellations. Ex: Eric P. Newman Numismatic Education Society.
Realized $246.75. Newman VI (Heritage Auctions, 4/2015), lot 19316. Description courtesy of Heritage Auctions.