PMG-certified Confederate Banknotes Featured in Spink Auction

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A top note in the auction is a Confederate States of America 1861 $5 graded PMG 53 About Uncirculated (lot 504), with an estimate of $10,000 to $15,000. The Confederate States of America (CSA) issued banknotes during the American Civil War to finance its efforts against the Union. Lacking the gold and silver reserves to back its currency, the CSA relied on these paper notes, which were essentially promissory promises of future payment.

However, as the war continued and the Confederacy’s prospects diminished, the value of these notes drastically plummeted due to rampant inflation, making them nearly worthless by the end of the war. Today, Confederate banknotes hold significant historical interest, primarily as collectibles for numismatists and Civil War enthusiasts. There are 107 examples of this particular catalog number in the PMG Population Report, but only seven of those have a higher grade.

Other PMG-certified notes in this auction include:

• an India / British Administration 1917-30 1 Rupee Specimen graded PMG 63 Choice Uncirculated EPQ (lot 191), with an estimate of $8,000 to $10,000
• an India / British Administration ND (1917) 2 Rupees, 8 Annas graded PMG 55 About Uncirculated EPQ (lot 192), with an estimate of $4,000 to $5,000
• a Confederate States of America 1861 $50 graded PMG 63 Choice Uncirculated (lot 500), with an estimate of $3,000 to $4,000
• a Confederate States of America 1861 $100 graded PMG 55 About Uncirculated (lot 499), with an estimate of $2,800 to $3,500
• a Confederate States of America 1861 $100 graded PMG 35 Choice Very Fine (lot 501), with an estimate of $2,500 to $3,500
• a Confederate States of America 1861 $5 graded PMG 55 About Uncirculated (lot 518), with an estimate of $2,500 to $3,500
• a Confederate States of America 1861 $10 graded PMG 30 Very Fine (lot 513), with an estimate of $2,500 to $3,500
• a European Union / Belgium 2002 20 Euros Specimen graded PMG 53 About Uncirculated (lot 136), with an estimate of $2,300 to $2,800
• an India / British Administration ND (1917-30) 100 Rupees graded PMG 45 Choice Extremely Fine (lot 198), with an estimate of $2,000 to $2,500
• a Confederate States of America 1861 $10 graded PMG 55 About Uncirculated (lot 514), with an estimate of $2,000 to $2,500

Estimates are provided by the auction house. The $ symbol indicates US Dollars.