||New Orleans, LA - Merchants' Bank of New Orleans (1st) $10 18__ LA-90 G4 SENC. Proof. PCGS About New 53. A second denomination from this first bank title proof series engraved and printed by Draper, Toppan, Longacre & Co. on India paper only. Very rare, with the only other example known to us being the Haxby Plate Note; that was sold in the Western Reserve Historical Society sale in 1996 by Christie's. This note has a more symmetrical layout than the $5 denomination. At the top is a seated woman in period dress representing Navigation, Hope, and Plenty. The top corners have cameo portraits of Washington facing across the note and with ornate "10" dies at the bottom. This is a sharply printed proof with some handling only. Noted as Hole Punch Cancelled, as made, and typical of proofs. Ex: Eric P. Newman Numismatic Education Society.
Realized $4,700.00. Newman VI (Heritage Auctions, 4/2015), lot 19089. Description courtesy of Heritage Auctions.