T-63 PF-2 1864 $0.50 Confederate Paper Money PMG Choice Unc 63 EPQ CHOICE

  

PMG Choice Uncirculated 63 EPQ! Comes with a gold CHOICE sticker indicating a choice for the grade PMG 63 EPQ note. The T-63 was printed on plain pink paper and does not have a back. It was considered too expensive to print backs on such a low denomination, which was losing its value rapidly by this point in the War. The serial numbers were stamped by machine.

The center of the note features a vignette of the bust of Jefferson Davis, the President of the Confederacy. This note was payable six months after the ratification of a Treaty of Peace between the Confederate States and United States. This type comes on quality pink bank note paper. All of the notes were printed on plain paper. T-63 offers several varieties with flourishes about the left plate letter. This type is common in all grades except Choice AU to Choice Uncirculated. A note about 3rd party grading. PCGS and PMG do a good job putting a floor on quality within a grade range and have become proficient in detecting repairs (though occasionally they miss something, or see something that is not there, as we all can). Notes housed in Net or Apparent holders have a wide range of quality from very nice (in rare cases may be nearly choice) to dogs with major problems, so each needs to be evaluated on their own. However, PMG and PCGS focus on technical grading due to circulation and damage and do not have a mechanism for evaluating condition or eye appeal - whether a note is average, better than average, choice or gem for the grade based on its color, trim and margins. The exception to this are slabbed notes of New or Uncirculated grades to some degree. This is important as Very Fine, Extremely Fine or AU notes can have a wide range of values depending on these factors not reflected in the slab grade.

A fully framed Confederate or obsolete note is worth considerably to a lot more than one that is trimmed into the margin for the same grade. These factors can affect the value of a note by 50%, 2-1 or even 3-1, e.

I will continue to use the terms plus for above average, choice and gem to mean varying degrees of superiority of condition and eye appeal of a note within a grade as documented in my book which is based on what collectors seek out and pay premiums for. In coins, we've seen the third party graders add things like full bell lines, full head, full bands which reflected the market. Additional states are being added like Idaho and more than 20 others.