||New Orleans, LA - Bank of New Orleans $500 Feb. 5, 1862 LA-100 G30b. PCGS Fine 15 Apparent. This is not a rare New Orleans bank; many were saved and the vast majority of notes seen of all denominations and types are hole-cancelled. However, this is by far the rarest and highest denomination from the bank. This attractive example engraved by the stalwart Rawdon, Wright, Hatch & Edson, N. Orleans firm has a blue security back. At the top, right of center, is this printer's rendition of Hebe and Eagle, to its left the Louisiana seal. At the far left is a large vignette of seated and facing Justice, and at lower right a female portrait. The rich blue back is arguably the most strikingly engraved of any of the city's banknotes. The center shows a large crescent enclosing the bank title, and is laden with local symbolism. The Louisiana pelican mother feeds her baby chicks in the nest; scales and a scroll with JUSTICE hang over her from the tree; and below, UNION AND CONFIDENCE is on a long ribbon. At each end are large perpendicular "500" dies. Described as Hole Punch Cancelled and Apparent due to "Minor Ink Erosion," but these issues are minor compared to the beauty of this high denomination. Ex: Eric P. Newman Numismatic Education Society.
Realized $3,525.00. Newman VI (Heritage Auctions, 4/2015), lot 19092. Description courtesy of Heritage Auctions.