Pensacola, Florida. City of Pensacola. 1862 50 Cents. PMG Extremely Fine 40…..(Benice 32). No. 99. Feb. 1, 1862. Red under tinting with large central “L” and “50.” Plain back. Typeset with the obligation stating payable “FIFTY CENTS IN SPECIE.” This was the only denomination authorized and emitted from this series. Likely the finest example extant as most others are well circulated with problems and were printed on the back of bond paper..…..