Cr#01 State Of South Carolina 1866 Rarity 11?

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Author	Replies: 5 / Views: 1,566
CollectorKing Valued Member 262 Posts	Posted 02/29/2016 3:09 pm Ok, so I got this note because the official RedBook states that this specific note which is dated January 1866 and comes up as CR # 01 is a Rarity 11 which is basically as rare as it gets. Now I am a little confused because it can't be that rare because although I cant find a large amount, I mean I do find maybe 2 or 3 around the net available to buy and they are only going for around $75-$100. All the notes I find are also close in serial numbers to the note I bought so my guess is maybe sometime recent maybe after the RedBook was released a few of the notes surfaced... And the RedBook I am referring to is the Southern States Currency by Hugh Shull. According to this book Rare 11 means 2-4 notes known to exist, so that's obviously not the case here there has got to be a few more then that at least. So my question is, is it really that rare and if so why is it going for under $100. I'm guessing that just because something is rare even on that scale does not make it extremely valuable. Because I see some "rare" notes going for thousands. Other then the cancellations this note is in amazing shape, it looks BRAND NEW! Paper quality wise.. any input would be great! Thanks guys Report this Post to the Staff

lettow Pillar of the Community United States 742 Posts	Posted 02/29/2016 3:32 pm A large number of these came out in 2008 or so having been sold by the State of South Carolina. Here is an article on it. http://www.coinbooks.org/esylum_v18n36a28.html Report this Post to the Staff
CollectorKing Valued Member 262 Posts	Posted 02/29/2016 3:48 pm Wow, interesting thanks for that. I searched for any clues like this but came up empty. So that explains it, and I checked my book and it was published 2007 so a year before this hoard surfaced. Still very cool story and I am happy to own one. There still has to be less then one thousand or so of these $1 denomination putting it now somewhere in the rarity 5 category. Report this Post to the Staff
moxking Rest in Peace United States 17900 Posts	Posted 02/29/2016 3:49 pm Rarity or scarcity always decreases. Report this Post to the Staff
techwriter Pillar of the Community United States 1285 Posts	Posted 02/29/2016 3:59 pm Very nice note! Congratulations. Absolute number one thing to do is get it AUTHENTICATED. == You asked about rarity, okay, let's deal with RARITY: Criswell uses Rarity 11 to indicate 1 to 5 "The rarity number is based upon the number of notes now existing, rather than the quantity printed." Cuhaj uses terms such as "scarce, rare, very rare" I don't have Hugh's book so don't know terms or the numberic scale he uses. Next: Criswell plate note is similar to yours and is Series A, serial # 1382 Cuhaj does not have a plate note for this note. New Bowers book, volume 6, does not deal with these particular issues specifically. He does recommend Austin M. Sheehen Jr's book South Carolina Obsolete Notes and Scrip, published by Midlands Printing (2003) Again on your acquisition. Report this Post to the Staff
GoldenChest Pillar of the Community United States 814 Posts	Posted 03/01/2016 03:20 am So I wonder if one of these notes wasn't cancelled, if it would still command a R11 rating? Report this Post to the Staff
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