||Richmond, VA - Commonwealth of Virginia-Virginia Treasury Note $100 Aug. 13, 1861 Cr. 1 Jones & Littlefield VT02-06. PCGS About New 53PPQ. A rare and desirable State note type from the first 6% interest bearing series. Printed on bond paper by Hoyer & Ludwig, Richmond, VA. From the 6,150 emitted, only 83 were recorded as outstanding in 1863. The design and color is exceptional, the Hoyer & Ludwig work perhaps at its apex. At the bottom center, in red lace printing, are two seated females, Plenty and Moneta, with "100" between them. At top, the title is arced above a small portrait of Washington (that was used on the Confederate $50 Type 8 notes). At the left is Ceres holding the end of the title banner. At the right end is perpendicular HUNDRED on an ornate lathe pattern. Signed and issued, the serial number 1034 falls into a range of known high grade notes observed over the past thirty years (Ford VIII, Lot 1374, serial 1036, for example). We believe at this time 15-20 exist in all grades (mostly higher) with many strongly held. The past few years have seen some high realizations for the finest examples, including a record $30,550 for a PCGS Very Choice New 64PPQ in our 2013 Long Beach sale. There is a visible vertical fold, but the color is rich, and the margins are perfect and full. This definitely has a five-figure look to it and is premium quality for the assigned grade. The eye appeal is superior to many technically uncirculated notes we have observed. Ex: Eric P. Newman Numismatic Education Society.
Realized $7,637.50. Newman VI (Heritage Auctions, 4/2015), lot 19377. Description courtesy of Heritage Auctions.