||Albany, NY - Bank of the Interior $5 Jan. 12, 1858 NY-70 G8a. Serial Number 1. PCGS Very Fine 25 Apparent. This is the first of a pair of impressive serial number 1 notes from this short-lived (1857-1861) bank. Engraved and printed by Rawdon, Wright, Hatch, & Edson, New-York with a full green tint and outlined protector FIVE. At the top center is seated America, with shield and sheaf of wheat, on the rocky shoreline. At the lower left is Washington in an oval frame with American motifs, and at the far right is the required square New York bank seal perpendicular. Other than the Haxby Plate note, this is the only issued $5 we have seen. There are also some proofs known from the title, with the last being the $100 color proof sold in one of the late Schingoethe sales. Bold from the face and vibrant, but noted as having "Mounting Remnants on Back; Minor Ink Erosion." Curiously, the number "1" is very clear, but the note shows wallet wear and was trimmed very tightly all around in the "New England" style. A difficult note to estimate since it is extremely rare as a type, and its serial number 1 status adds a premium. Ex: Eric P. Newman Numismatic Education Society.
Realized $998.75. Newman VI (Heritage Auctions, 4/2015), lot 19236. Description courtesy of Heritage Auctions.