||Golconda, IL - Metropolitan Bank $5 October 1, 1860 IL-315 G8a. Proof. PCGS Very Choice New 64 Apparent. Engraved with superb precision and color, this National Banknote Company imprint India paper proof on new cardstock is very rare. The National Bank Note Company color proofs have traditionally been among the most desirable Obsoletes due to their glorious appearance. Thus several Illinois banks favored using this firm over its competitor, the more established American Banknote Company. Dominant full orange tint across the note with repeating lathe pattern, full frame with imprint, and large "5" protector. Right of center, a ship under full sail is seen nearly head-on. At upper left is a girl's portrait; at lower right, the Illinois Auditor's Office seal. Known to us as a proof and unissued remainder, this is one of two or three proofs we have encountered over three decades of cataloging Obsolete notes. This is the only available example. Noted Hole Punch Cancelled, as made, through the India paper only. The Apparent designation, due to "Minor Stain at Bottom Left" is noted for accuracy. Ex: Eric P. Newman Numismatic Education Society.
Realized $2,350.00. Newman VI (Heritage Auctions, 4/2015), lot 19045. Description courtesy of Heritage Auctions.