To paraphrase what was passed on to me, a portion of this flag does still survive. At some point (date as of yet unmentioned) a historian from the Commonwealth Art Collections (I believe this is the dept. that has control of the flags currently) examined the remains of the flag, and it was in fact at the Lowell Historical Society. The notes mention that it was a presentation national color that has seen heavy use. It was also noted as being damaged by fire (which happened I believe in the early 1900's when the building the historical society was in burned). Remaining fragments are listed as shred of red, white, and blue silk, and one painted gold star. The finial and tassels are also missing. It is noted "6' on the staff", and black crepe tied around the staff, and short red streamers (some damaged by fire, possibly some missing). These streamers apparently have battle honors on them, similar to more modern ceremonial colors. Streamers listed are Red River, Baton Rouge, Cedar Creek, Fisher's Hill, Vicksburg, Port Hudson, Donaldsonville, & Plaines Store.
I am glad to see there is a record that at least some of this flag survived after the fire in the early 1900's. I am just puzzled why the Lowell Historical Society did not believe they had this flag. Did they sell it? Lose it? Destroy it? Or most likely did they just forgot they had it or possibly misidentify it? I'm hoping that the latter is the case. Hope this is of interest, and thought it would be worth sharing.
Josh Bucchioni