||Austin, MN - Bank of Austin $3 18__ MN-5 G6 Hewitt B020-D3b. Proof. PCGS Very Choice New 64. That this is one of the rarest titles from the Minnesota Obsolete banknote series is indicated by the lack of illustrated examples available when Haxby's reference was published in 1988. Until the Hewitt census when populations were published, the two Newman collection India paper proof denominations here were unpublished and unknown to present day collectors. The bank never opened or issued notes (from $56,000 authorized by the State Auditor's office), but two-subject plates were ordered from Danforth, Perkins & Co. and finally engraved with the complete American Bank Note Company imprint. Minnesota notes are beautifully designed with the finest craftsmanship, and this is no exception. At the top center is a man on horseback receiving one farmhand's report while the other continues to bale hay. At the upper left is a female portrait and at the bottom right are an Indian mother and child. This has a red protector THREE and is printed in the fashion of the proposed issued notes. This is unique as a proof, but there is one other example known, an archival remainder that was sold in the November 2011 Stack's Bowers sale, lot 7204, at $7,475. Hole Punch Cancelled as made and the Hewitt plate note, like so many of the incredible proofs sold here in the Minnesota section. This well-margined and boldly executed proof, it is also the only $3 proof known, is appearing at auction for the first time. Ex: Eric P. Newman Numismatic Education Society.
Realized $5,875.00. Newman VI (Heritage Auctions, 4/2015), lot 19137. Description courtesy of Heritage Auctions.