||New Orleans, LA - Union Bank of Louisiana $50 Nov. 9, 1860 LA-150 G10a. PCGS Very Fine 25. A rare issued New Orleans $50 that was endorsed as paid in 1866. The title eventually converted into the Union National Bank of New Orleans (Charter #1796 in 1871, liquidated 1902) that issued Original Series notes. The fine elegance of the engraving by Rawdon, Wright, Hatch & Edson, N. Orleans & N.Y. is seen on both sides. At the top right is a reclining, and partially exposed, female America with an unfurled standard, and leaning on a shield. To her left is the Auditor's seal and signature registering this note with the State. Bottom left has a splendid bald eagle with shield, and at the far right is seated Knowledge with a globe and other symbolic accessories. The orange back is mesmerizing, with the sun's rays emanating from behind a finely feathered bald eagle that bisects the title vertically. Each end has a large "50" with the right end having the 1866 penned endorsement. The note's design reflects the period banknote engraver's artistic abilities and the workmanship of this printer. The grade is magnificent, as we normally do not have the luxury of Gem Uncirculated Obsolete banknotes to choose from when the specific types are so rare. This might be the finest of its type, and its beauty is indisputable. Ex: Eric P. Newman Numismatic Education Society.
Realized $4,700.00. Newman VI (Heritage Auctions, 4/2015), lot 19096. Description courtesy of Heritage Auctions.