Good Afternoon Cointalk, A friend of mine who owns a cash for gold retail shop has acquired these two notes for $25. He thinks they're uncirculated and asked for my opinion on authenticity and value. However I am not very knowledgeable about currency and I hope someone here could help me.
http://vernpotter.com/VernPotter/SC/2SC18794.htm Looks like about $100 each from this dealer. Should be easy enough to find other examples. https://www.google.com/search?q=South+carolina+bond+scrip+1872&ie=utf-8&oe=utf-8&client=firefox-b
About $100 each is a retail price on them. There is an interesting story about the 1872 notes, they were not authorised but issued and then repudiated by the state legislature. When in early 1873 they were dispersed it was at a discount to get them out into circulation. What actually happened was the legislature did not authorise the notes but the reconstruction executive government did, and in effect duplicated the order from American Banknote. These notes were NOT redeemed. The very rare notes are the authorised and redeemed 1866 and 1873 issues.
how do you tell whether the notes have been redeemed or not? Also I just bought the pair for a great price.
If they were redeemed they are COC(cut out cancel) or stamped as cancelled. There are very few unredeemed notes from the 1866 or 1873 issues, they are R-10 notes ie maybe 1-2 known. The 1872 notes are R-2, ie 5,000-10000 known notes
So the notes that have been redeemed are Rarity # 10 and the ones I have here are Rarity # 2 correct? A survival of 5,000-10,000 sounds prety rare to me. Sorry I'm a complete noob in U.S currency. This was my first currency purchase. They were too good looking to resist..
