||Houston, TX - Republic of Texas $2 March 7, 1838 Cr. H24 Olson 506 Medlar 50. PCGS Fine 15 Apparent. This third series is referred to as "Medallion" notes due to its left emblem, and they are very hard to come by, except from old or very specialized collections. The notes were used to redeem an earlier series of paper money and make change for the Star notes. This is also an engraved issue, with the imprint of Niles Print, Houston. Childs, Clark & Co, New Orleans. At the top, right of center, is seated Liberty and an eagle. At the far left is a perpendicular oval die showing a steamboat (the "medallion"). At the far right is a cotton boll. An excellent example of this Rarity-9 (16-50 known) note type. As usual, "CCC" (Cross-Cut Cancelled) with Apparent notations of "UL Corner Replaced; Hinge Repaired Cancellations; Minor Stains." The latter are from the back reinforcements of the cut-cancels. Generally unheard of above the grade of Fine, this is well above average; we recently sold an example at the 2015 FUN Sale, Lot 18836, graded PCGS Fine 12 for $4,935. This rarity is splendid for a type set of Republic of Texas currency. Ex: Eric P. Newman Numismatic Education Society.
Realized $4,230.00. Newman VI (Heritage Auctions, 4/2015), lot 19340. Description courtesy of Heritage Auctions.