Bidspirit auction | Very Cool 1872 $50 South

Very Cool 1872 $50 South Carolina, Columbia Obsolete Currency Note SCCR-8 George Washinton Graded cu66 EPQ By PMG - Very Cool 1872 $50 South Carolina, Columbia Obsolete Currency Note SCCR-8 George Washinton Graded cu66 EPQ By PMG. These Very Cool Notes Are Nearly 150 Years Old . They were issued as an ìIOUî 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 thatís actually the same image we see on our current $1 billóonly much more detailed. On either side of this portrait are vignettes referring to South Carolinaís 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.