PMG Very Good 8 Net - Pieces Missing - CR-H7B Medlar 38 - Dec. 11, 1837 Serial # 886 - 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 $50 Republic of Texas "STAR" note had a printing of only 2000. Medlar rated the $50 as a Rarity 5 - with a 10-25 surviving population in his 1968 book "Texas Obsolete Notes And Scrip". In the Hugh Shull book "Southern States Currency" 2007 he rates the $50 as a Rarity 8 - with a 51-100 surviving population. This example is missing a piece at upper center edge and around the star with a few nicks on lower edge. All signatures are undamaged including the secretarial signature of "Sam Houston" as president of Texas. The first issue star notes are seldom available and very popular with Republic of Texas collectors. The last $50 example I find that Heritage sold in Oct. 2015 Lot # 18591 went for $5875. It was a CR-H8 PCGS VF 30.