||Chatfield, MN - Bank of Chatfield $1 18__ MN-20 G2 UNL Hewitt B080-D1a. Proof. PCGS Gem New 65PPQ. The Bank of Chatfield is a very scarce bank, but of the seventeen notes confirmed in the 2006 census, five were issued notes and eight were remainders with red protectors. There were only four proofs known and they are the examples surveyed in the Newman collection. The bank ordered a plate with four denominations, $1-$2-$3-$5, but they had the American Bank Note Company print them in a staggered fashion (that is, some with all four denominations, then $1-$2-$3, and finally just $1-$2) in order to add up to their authorization of $49,000 in notes. This India paper proof is beautifully designed. There is no protector plate used like on the issued notes and remainders observed. At the center is a man grooming a bay horse with an adjacent roan waiting his turn. The bottom left corner has a young boy and the lower right, a young girl. The Hewitt plate note and reported as unique, this is the only $1 proof from the bank of any variant. This is Hole Punch Cancelled as made and a beautifully margined Gem. Ex: Eric P. Newman Numismatic Education Society.
Realized $6,462.50. Newman VI (Heritage Auctions, 4/2015), lot 19141. Description courtesy of Heritage Auctions.