||Newark, NJ - Newark Whaling, Sealing & Manufacturing Co. 12-1/2 Cents Oct. 25, 1837. Wait-1543. PCGS Very Fine 20 Apparent. This titled issuer has always been popular with collectors. The theme, whaling & sealing, is unusual, and the vignettes fit remarkably well on the small format. The notes themselves were actually 1% interest bearing, and since they were emitted in the tumultuous late 1830s, notes held too long by the public were likely not redeemed. However, in decades of researching and writing about Obsolete banknotes, we have never seen a crisp, full paper body example; and this note is above average in quality. This was a three denomination series with 12-1/2 cents, 25 cents, and 37-1/2 cents, presumably on a six position (observed are A and B plate position notes) copper plate engraved with the imprint of C. P. Harrison Scroll Work. At top center is a whaling vignette, unique and custom made for the series, adapted from William Page's 1835 painting Capturing of a Sperm Whale and popular on period color tinted prints (type of Brewington-2 as listed in Kendall Whaling Museum Prints, 1969, Kendall Whaling Museum, Sharon, Massachusetts). Flanking the whaling scene are steamboat and wharf scenes. In the upper corners are Spanish colonial real vignettes. At the lower right is a galleon. Apparent, as most notes from the series are, with a back paper "Tape Repaired Edge Tear at Top Right," but overall it presents a clean surface and well margined face. This is one of the more interesting topical scrip notes around, combining whaling, coin vignettes and odd denomination themes. Ex: Eric P. Newman Numismatic Education Society.
Realized $423.00. Newman VI (Heritage Auctions, 4/2015), lot 19232. Description courtesy of Heritage Auctions.