||New Orleans, LA - Bank of America $5 May 21, 1862 LA-5 UNL. PCGS Very Fine 30. A third remarkably rare note from this virtually unknown title. Like all the Pre-War and Union occupation era notes from the bank, they apparently were mostly redeemed for stock or other notes during or shortly after the war. This style is characteristic of many Civil War necessity issues since it is printed locally on the back of Rawdon, Wright, Hatch & Edson engraved Bank of America duplicate ("Second") draft forms. This smaller format note has no imprint. The note is divided into two segments with the left quadrant having a Federal style "5" counter die over an ornate interlocking pattern reminiscent of a wood floor design. The right three-quarter segment has the title across and signature blocks. This is dated as the previous note and signed by the same bank officers. As above, this is the first example we have seen and another fascinating note of the highest rarity. Bright and vibrant, a "Gem" Very Fine note for those thinking old-school Obsolete note grades. Great Obsoletes often come in small packages. Ex: Eric P. Newman Numismatic Education Society.
Realized $5,875.00. Newman VI (Heritage Auctions, 4/2015), lot 19078. Description courtesy of Heritage Auctions.