||Camanche, IA - Butcher, Dailey & Co. $1 185_ Oakes 19-UNL. Remainder. PCGS Very Fine 20. This is the finest known note, to our knowledge, from an exceedingly rare private Iowa issuer. The company apparently acted as a bank, and the obligation states "...or bearer One Dollar in Currency" rather than goods or other scrip. The note was engraved and printed by W.L. Ormsby, New York, using his unusual, distinctive style and counterfeit protective devices. Ormsby-engraved notes are a study in themselves, due to his interesting viewpoints on counterfeit protection and engraving techniques. Interestingly, this is one of the few Ormsby series without a color back (which would have cost the client more money for an additional plate and subsequent printing cost.) The layout is symmetrical. At bottom center is a single cherub with garland, and gray ONE above. Left and right, farmers working the field, one with a scythe; the other with a hoe. Matching "1" dies are in the upper corners. The firm issued two series of notes, the other lithographic. The $3 note from that issue, plated in Oakes, was sold in the Christie's Western Reserve Historical Society Sale, November 1996, for $1,045 to the order bidder (Herb and Martha Schingoethe were the underbidders). That note is likely strongly held as it has not been seen in over 18 years. Remarkably, we sold a frayed Very Good example in January 2003 for $1,265. This note is, of course, much better. A beautiful, well-preserved example from one of Ormsby's rarest issuers. Ex: Eric P. Newman Numismatic Education Society.
Realized $2,585.00. Newman VI (Heritage Auctions, 4/2015), lot 19057. Description courtesy of Heritage Auctions.