||St. Paul, MN - Bank of St. Paul $5 November 1, 1858 MN-155 G6 Hewitt B720-D5a. Proof. PCGS Very Choice New 64. The Bank of St. Paul was organized with an authorized circulation of $25,000 to be printed from its $1-$2-$5-$10 plate ordered from Toppan, Carpenter & Co., but with an American Bank Note Company imprint when executed. The bank's issued notes were eventually refused by the officers, but the State Auditor's office had ample collateral (usually railroad bearer bonds in this period) to pay the notes off at nearly par, 98 cents per dollar. Currently in the census are fourteen issued notes, mostly lower grade $1 and $2 notes that originally surfaced at Jules Karp's New York coin shop decades ago. Unlike these is the lone issued $5 with red protector, a lovely note in the Hewitt collection and plated in his book. There are only two proofs of this $5 type without a protector, made only as proofs, and the one seen here is also the Hewitt plate note. The layout is spectacular, showing a buckskin-clad hunter felling an elk with his shotgun, the blast blazing from the barrel, with his trusty dog in close pursuit. This vignette was engraved and used by Danforth, Wright & Co. prior to the 1858 consolidation. At the right, under the "5" die is an Indian hunter on horseback. The title and obligation split the vignettes vertically. Hole Punch Cancelled as usual and as made by the ABN. This is an extremely beautiful and important St. Paul proof title and type. Ex: Eric P. Newman Numismatic Education Society.
Realized $5,640.00. Newman VI (Heritage Auctions, 4/2015), lot 19185. Description courtesy of Heritage Auctions.