This is the first public auction appearance of an Uncirculated T-3 in a PMG holder. About 1,600 Montgomery $100 notes were issued, with a little over 150 known to exist today. PMG has graded 45 examples of this type, with this piece sitting proudly atop the Population Report.

This type was engraved and printed by National Bank Note Company in New York. Neatly penned signatures of Clitherall and Elmore are found at the bottom of the note, with an endorsement of "Issued May 31, 1861" on the reverse. The front of the note depicts allegorical Minerva (or Columbia if you are a Northerner) at left, with a train pulling into a station at center. At upper right is an ornate die counter in jet black ink, while the border and protector are in dark green. The paper is also bright, accentuating the design details, especially the dark navy-blue serial numbers. The place of issue is Montgomery, as seen next to the lower serial number. The capital of the Confederate States of America was moved from Montgomery to Richmond on May 29th, 1861.

The T-3 is often regarded as one of the most beautiful types of Confederate paper issued and it is easy to see why. Wonderful craftsmanship perfected by the National Bank Note Company adds exceptional flair, while the paper quality of these NBNC notes is far superior to examples later issued by the Confederacy. This note is un-cancelled and will surely create quite a buzz among Confederate collectors looking to upgrade. This is one of the most attractive examples of this type your cataloger has seen, and we would not be surprised to see the high estimate met or exceeded when this beauty crosses the auction block this spring. PMG Pop 1/None Finer.

To read the complete article, see:
Sensational Choice Uncirculated Confederate T-3 1861 $100(https://www.stacksbowers.com/News/Pages/Blogs.aspx?ArticleID=1861-100-dollar-uncirculated-stacks-bowers-galleries)