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1872 $50 South Carolina Note PMG 66 EPQ

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267583
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FOUND! $50 South Carolina Revenue Bonds Hoard

These notes, from a recently discovered hoard of South Carolina Revenue Bonds dated March 2, 1872, are nearly 150 years old. They were issued as an “IOU” to investors of the Blue Ridge Railroad Company, toward a tri-state railroad link-up that would facilitate trade in South Carolina. Enormous amounts of capital were necessary for railroad construction, some from private sources, but much of it came from state and local government funding. Each $50 note features a central portrait of George Washington that’s actually the same image we see on our current $1 bill—only much more detailed. On either side of this portrait are vignettes referring to South Carolina’s agricultural heritage. On the right is an image of a farm hand carrying a basket of cotton while with others can be seen picking cotton in the background. On the left is an image of a wagon full of cotton bales being pulled by horses who seem to be struggling under its weight. All of these designs are extraordinarily intricate and are a testament to the skill used to create the designs printed on this note!

Taken To The Cleaners By The State Of South Carolina!

When the news broke that the state of South Carolina needed millions of dollars to finance the reconstruction of the railroad, it seemed like a no-lose deal. Railroads were in their heyday, and the state guaranteed repayment. Famed industrialist Edward P. Wesley coughed up the dough and received $1,000,000 in notes designed like intricately engraved currency. But, in 1873, South Carolina reneged, leaving Wesley with the unredeemable notes. Wesley fought the state in the courts but lost. He was left with nothing but the notes.

Crisp Gem Uncirculated Notes From The E.B. Wesley Collection

This $50 note is one of a limited number of notes acquired from a large hoard of notes that had been held by Wesley. Recently, a portion of the original Wesley South Carolina Railroad Notes resurfaced mysteriously out of the holdings of Wesley’s heirs. When they were offered to us, we snapped them up, and now they’re available for you to add to your collection. Each note available here has been certified and graded by Paper Money Guaranty (PMG) as being in super-high grade, crisp Gem Uncirculated 66 (PMG 66) Excellent Paper Quality (EPQ) condition. To qualify for an EPQ designation, a note must be graded 65 and higher. Plus, each has been pedigreed as having come from “E.B. Wesley Collection.”

Availability Out of Stock
Year of Issue 1872
Country United States
Composition Currency
Condition Graded
Grade MS, 66EPQ
Denomination 50.00
Currency Type Dollar