||Benton, MS - Benton & Manchester Rail Road & Banking Co. $5 June 19, 1838 MS-20 UNL Kraus 10070. PCGS Very Fine 20. A splendid highlight from this compact, but important, selection of Mississippi Obsoletes, unlisted in Haxby, and in lovely condition. Engraved by Draper, Toppan, Longacre & Co., the note is very handsomely designed. At the top center is Mercury depicted as a toddler, along with a dog with a key guarding a safe, as an allegory representing Protection. The identical end vignettes are spectacular with a head-on view of a steamboat sailing away, leaving a wake behind as black smoke flows from the stacks; these vignettes are on lathe work dies with "5" numerical bases. Haxby does not list this denomination in volume 2, but it is assigned a listing in Guy Kraus' Mississippi Obsolete Notes & Scrip (no copyright date or location on title page, the much expanded successor volume to L. Candler Leggett's SPMC Wismer project published work). That note is cited in the 1983 Richard Hoober article on Mississippi railroad notes. We handled an unlisted $20 remainder from the DTL series, cut from a four-subject sheet of notes ($20-$20-$50-$100) in January 2012 at $4,025. We also are aware of the proof sheet from the DTL imprint in the 1990 American Bank Note Company Archives sale that realized $2,090. A fully accomplished, properly issued example in superb condition for such a note. A treasure from this state, an important railroad bank, and exceedingly rare. Ex: Eric P. Newman Numismatic Education Society.
Realized $4,935.00. Newman VI (Heritage Auctions, 4/2015), lot 19198. Description courtesy of Heritage Auctions.