||Boston, MA - Merchants' Bank $5 18__ MA-285 G22. Proof. PCGS Superb Gem New 67PPQ. Boston banks are numerous and exhibit varied vignettes and styles. This is an exceptional condition proof, with India paper mounted on cardstock and printed by the dual New England Bank Note Co., Boston/ Rawdon, Wright, Hatch & Edson, New York imprint. The vignette at the top center is custom for the title and series, and shows the Merchants Bank building and a section of State Street, 1840 (as attributed by Roger H. Durand's Interesting Notes about Architecture). At the left, inside the panel, is an ornately framed Benjamin Franklin portrait that was used on the initial United States 1847 5 Cents imperforate stamp (U.S. #1). At the far right is a large and exceptionally detailed "5" with a seated female. This is a marvelous layout in virtually perfect condition on a wide-margined card, a rarity that is also known issued (see our May 1-3, 2003 CSNS Sale, the Tom Denly Collection of Boston Obsolete Currency and Scrip, for an example). Hole Punch Cancelled as specified by PCGS, but through the India paper only. This is a stunning Superb Gem proof, and doubtless the finest. Ex: Eric P. Newman Numismatic Education Society.
Realized $2,115.00. Newman VI (Heritage Auctions, 4/2015), lot 19118. Description courtesy of Heritage Auctions.