PMG Extremely Fine 40 Net - Tears - CR-H11 Medlar 45 - Jan. 15, 1838 Serial # 420 - The Republic of Texas "STAR" notes were the first formal currency that the Republic issued. Only $514,510 was issued in all denominations in late 1837 and into early 1838. The $100 Republic of Texas "STAR" note had a printing of only 2200. Medlar rated the $100 as a Rarity 4 - with a 25-50 surviving population in his 1968 book "Texas Obsolete Notes And Scrip". In the Hugh Shull book "Southern States Currency" 2007 he rates the $100 CR-H11 as a RARITY 9 - with a 16-50 surviving population. The CR-H11 variety has the title in error "SEC. OF TRRASY" and the rosettes in border are oval petals rather than round petals. A very scarce and seldom seen variety! PLUS this note HAS NOT been cut cancelled or ink cancelled like most. This example has two short tears at lower left corner.. All signatures are clean and sharp including the secretarial signature of "Sam Houston" as president of Texas. Excellent paper quality with bright sharp printing and exceptionally clean surfaces. The first issue star notes are seldom available especially in this high a grade and are very popular with Republic of Texas collectors. The last $100 example I find that Heritage sold in Nov. 2017 Lot # 28223 went for $4560. It was a CR-H9A Shull RARITY 8 with a 51-100 surviving population grading PCGS EF 40 with Tape Repaired edge splits, Tears and cancellation cuts.