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Lot 19177

Image Information

Type Currency
Title Lot 19177
Country U.S.
Grade Choice New 63
Service PCGS
Description St. Paul, MN - Marine Bank $1 18__ MN-141 G2a UNL Hewitt B660-D1b. Proof. PCGS Choice New 63 Apparent. The Eric Newman research survey for the Minnesota book in June 2004 produced many great discoveries, from rare issued notes and scrip to the archive of impeccable Minnesota proof sheets. However, Shawn Hewitt and Gil Sem were greeted by what had been a legend: The Marine Bank, St. Paul notes in a complete denomination proof sheet with red protectors, as the notes would have been emitted. In the Minnesota book's tribute to Eric P. Newman, they dubbed this series "The Holy Grail of Minnesota Obsoletes." Until then, the notes from the bank were completely unknown in any form, although the bank did issue notes that were redeemed at par, with $423 outstanding in 1868. In Haxby, the series was all SENC, never confirmed and with period Bank Note Reporter descriptions only (no mention of the protectors). The superb plate engraved by the American Bank Note Company is reported to be a Wellstood, Hay & Whiting order initially, but the vignettes on each denomination are from several of the predecessor firms prior to the 1858 merger creating the ABN. This is printed on India paper only and Hole Punch Cancelled as prepared by the ABN. This has a beautifully balanced layout using a bottom center vignette of man resting while his two horses nibble on hay. At the left is a standing sailor on a deck, and at the lower right is a young woman wearing a veil. An impressive red protector ONE is across the top center signature blocks. Apparent, for a cited "Repaired Tear at UL Corner," with that small paper strip reinforcement seen from the back only. That small flaw is academic as this is the Hewitt plate note and unique. We reiterate these four Marine Bank proofs are the only known examples and are offered for the first time at auction. Ex: Eric P. Newman Numismatic Education Society. Realized $7,050.00. Newman VI (Heritage Auctions, 4/2015), lot 19177. Description courtesy of Heritage Auctions.

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