||Red Wing, MN - Bank of Red Wing (1st) $2 18__ MN-105 G4a Hewitt B500-D2b. Proof. PCGS Very Choice New 64PPQ. The Bank of Red Wing is an interesting institution using the same American Bank Note Company engraved $1-$2-$3-$5 plate, but to print two separate series of notes. The first bank's notes used red protectors with blank backs and the second bank used green protectors and an additional green security back. All the issued notes from the bank were redeemed at par when presented, and that second bank likely redeemed notes from the first title, explaining their great rarity (one $2 issued note was reported from the first bank). This is a very choice India paper proof and, like so many of those offered here, is the Hewitt plate note. At the left is an Indian holding a long spear while riding a white horse, and at right is a pastoral scene showing a seated woman tending calves. The vibrant numeral "2" protector is at the left, between the vignettes. This is Hole Punch Cancelled as made. There are fifteen proofs from the bank listed in the census, but it is not clear exactly how many are available to collectors; also, that number includes proofs without any protector. There are three proofs of this type reported, but perhaps it is the only example obtainable and it is in excellent condition. Ex: Eric P. Newman Numismatic Education Society.
Realized $4,700.00. Newman VI (Heritage Auctions, 4/2015), lot 19171. Description courtesy of Heritage Auctions.