||Baltimore, MD - Bank of the United States (the First) $50 Office of Discount & Deposit Sept. 6, 1804 Contemporary Counterfeit US-1 C126 Shank 5.159.6C. PCGS Very Fine 20 Apparent. Bank of the United States notes are a very complex field within Obsolete notes, as we discussed earlier. This is a high-grade First Bank contemporary counterfeit written "Baltimore" branch type with an interesting back endorsement. The First Bank demand notes and branch types were printed in Philadelphia, but without an imprint (Draper has been suggested). The texts and titles run across the note with a bottom center eagle and shield within an oval. At the top are two widely spaced "50" dies on a linear pattern and at the far left shaded lathe work with Department. The blank back was endorsed in South Carolina and was apparently condemned, as noted by, "...This Bill was found to be counterfeit in open court 20th Nov. 1805." The note has excellent paper quality for the genre and with only some minor "Ink Erosion" noted. Two adjacent and contemporary cross pen cancellations are on the note face, but not obtrusively so due to their placement. This is a rare type with an interesting context. Ex: Eric P. Newman Numismatic Education Society.
Realized $1,645.00. Newman VI (Heritage Auctions, 4/2015), lot 19111. Description courtesy of Heritage Auctions.