T-39 PF-1 $100 Confederate Paper Money

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T-39 PF-1 $100.00 CSA Currency. Milkmaid to the left. Railway train with straight steam from the locomotive in the center. Hoyer & Ludwig. Serial number 1542. Plen A . Fine. A few tiny pin holes. Fully framed. Genuine. This was the first interest bearing $100 note to be issued in large quantities by the Confederacy. They paid a 7.3% annual interest rate; double that of the First Series notes of Montgomery and Richmond. Some were issued by agents by hand, and their signatures—and sometimes the place of issue—are written on the backs. Some T-39s also have interest paid stamps on the backs indicating that the interest was collected by the bearer. The notes have a popular “Train” vignette on the front, with easily visible “straight steam” (all white) coming out of the smokestack. To the left is a vignette of a milkmaid. These notes were payable six months after the ratification of a Treaty of Peace between the Confederate States and United States and were not fundable. This type comes on moderate quality paper. As they were interest bearing, many were saved, and high quality examples are easily found. However, many were not cut well due to the higher volume of production as compared with many of the 1861 notes. There are a number of different sizes of plate letters ranging from very small to very large and including small, medium, read more

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