||Boston, MA - Bank of the United States (the First) $50 April 29, 1797 Contemporary Counterfeit US-1 C164. PCGS Fine 12 Apparent. This is another rare and early Boston contemporary counterfeit branch type from the First Bank of the United States, likely not known in genuine form. The plate executed was well engraved and this is in excellent condition for the rare type. At the upper left is a Federal style eagle similar to reverses of the early United States draped bust series coinage. Across the note are detailed texts and title. At the far left, a shaded end panel shows DEPARTMENT spelled out in intertwined script lettering, oddly configured and not easily deciphered (this should have been the design element to deter counterfeiters from mimicking this note type). Obsolete banknotes dated prior to 1800, even the contemporary counterfeits, are as a genre scarce to extremely rare. This is the Haxby Plate Note example and illustrates the branch design type in Volume Four of Haxby's 1988 massive reference series quartet. Noted are some "Hinge Repaired Edge Tears," but this is a very presentable series type or branch note depending on your specialty interests. Ex: Eric P. Newman Numismatic Education Society.
Realized $1,997.50. Newman VI (Heritage Auctions, 4/2015), lot 19117. Description courtesy of Heritage Auctions.