||New Orleans, LA - Atchafalaya Rail Road & Banking Company $500 May 1, 1838 LA-10 G12b SENC. PCGS Very Fine 20. This Newman VI auction sale will be remembered for several impressive Louisiana Obsolete rarities. Once again, this is an exceedingly rare note and not confirmed as extant when the Haxby four volumes were published in 1988. This $500 is not only a great rarity, but it also boasts condition that will appeal to thematic collectors as well as state specialists. A beautiful face layout shows seated Commerce on the shore while ships sail in the harbor. The transportation motifs are appropriate, with a steamboat at the left and an early train at the right end. Both are beautifully rendered by Draper, Longacre & Co., Phil. & N.Y. Of course, like so many notes from this collection, the diagnostics get even more interesting. A beautifully executed blue color printed back with large "500" in the center shaded block, and each end with framed dies, was engraved by Rawdon, Wright, Hatch & Edson, New Orleans. This is an extremely rare dual imprint Obsolete. This is fully issued, has a low serial number, and the back shows an oval stamp with the cashier's signature. This is most impressive and perhaps one-of-a-kind. Ex: Eric P. Newman Numismatic Education Society.
Realized $8,225.00. Newman VI (Heritage Auctions, 4/2015), lot 19079. Description courtesy of Heritage Auctions.