||Baltimore, MD - Bank of Baltimore $5 July 16, 1799 MD-15 G36 SENC. Shank 5.5.26. PCGS Very Fine 30. The earlier dated Obsolete notes may lack the vignettes and colors of the very late ones, but they occupy an important place in American commercial and financial history. Their period designs often display a folk charm. The Bank of Baltimore was chartered in 1795 and was issuing notes shortly thereafter. This is a very rare and genuine 1799-dated note from the bank. The note design is simple, with the obligation text and titles broken up sporadically with: an upper right shield showing a rearing horse, the circular slogan PUBLIC/UTILITY at right, two styles of die counters, and a shaded left end panel with slanted FIVE. This is a very high grade example, making it excellent for study. Though contemporary counterfeits plagued the bank on some subsequent series, this was not one of them. The copper plate engraving exhibits perfectly straight frame lines on all sides and superior features on the intermediate elements laid into the text engravings. The engraving style is on a par with the $100 Remainder to follow, and the condition is extraordinary for such a note. Collectors of Maryland National banknotes should appreciate that this example is a miracle of survival: the National Bank of Baltimore (Charter 1432) would have redeemed this note well into the late nineteenth century as a valid note issue of the predecessor title. It is much rarer than many large size notes from the National Bank title. Ex: Eric P. Newman Numismatic Education Society.
Realized $3,760.00. Newman VI (Heritage Auctions, 4/2015), lot 19109. Description courtesy of Heritage Auctions.