||Houston, TX - Government of Texas $3 June 1, 1838 Cr. H15A Olson 535 Medlar 57. PCGS Fine 15 Apparent. This is from the second series, Government of Texas notes, authorized by the same Texas Congress Act of June 9, 1837. Notes were payable one year from the issue date and yielded 10% interest per their obligation, like the "Lone Star" Republic notes. This series was more official looking and was printed from beautiful plates engraved by Draper, Toppan, Longacre & Co., Philad. & N.Y. At top center, below the arced title, is seated Commerce holding a shield with a large, five-pointed star. At the far left is THREE on linear shaded lathe work. This has the secretarial signature of Sam Houston. A very scarce type, Rarity-8 (51-100) in Shull-Criswell. Cross-Cut Cancelled, and noted by PCGS as having "Hinge Repaired Cancellations." This example is conservatively graded, as it is fairly bright and clean with the hinge repairs done neatly from the back. The eye appeal is actually superior to the example we sold in our 2003 Long Beach Sale, Lot 16105, at $3,113.75 in a PCGS Very Fine 25 Apparent holder. This is a splendid type and an excellent Texas three dollar bill. Ex: Eric P. Newman Numismatic Education Society.
Realized $3,525.00. Newman VI (Heritage Auctions, 4/2015), lot 19337. Description courtesy of Heritage Auctions.