||New Orleans, LA - Louisiana State Bank $10 May 2, 1860 LA-80 G26. PCGS Fine 15. This is a rarity from a later series, fully issued and in attractive condition. Extremely colorful and intricately engraved by the National Banknote Company. The full orange tint running across the width of the note has micro-lettered NEW ORLEANS incorporated into its repeating pattern. The upper half of the top ''10'' dies are in color and the bank title is within the overlapping circles. In this stunning layout, a steamboat glides down the river and seems to float upon the Gothic title across the center. Though other notes from the bank are available, this "SENC" listed type is very rarely encountered; apparently, the notes were redeemed by the bank even after it became a National Bank in 1871. We handled an example of this type in our 2011 FUN sale at Tampa where a PMG Choice Fine 15 example met with furious bidding before selling for $8,525. This note, with its vibrant color and clean surfaces, is superior to that piece. Conservatively estimated here, and more than worthy of topping the high estimate for collectors desiring the rarest issued, most masterfully engraved Obsoletes. Ex: Eric P. Newman Numismatic Education Society.
Realized $5,875.00. Newman VI (Heritage Auctions, 4/2015), lot 19087. Description courtesy of Heritage Auctions.