||Brooklyn, NY - Mechanics Bank $2 Nov. 4, 1861 NY-335 UNL. PCGS Very Fine 20 Apparent. This is an exceedingly rare bank, and this fully issued example is an unlikely survivor due to redemptions. The bank appears to have merged gradually into another local institution with the vast majority of notes redeemed. This is the last series for the Obsolete title, with a full American Bank Note Company, New-York imprint at the bottom, thus unlisted in Haxby (NY-335 G4c would be an accurate number). At the top center, just to the left, is a stonemason cutting details on a column. Between this vignette and the "2" counter is a portrait of a smiling woman wearing a beaded necklace and hair comb. At the lower left is the New York Bank Seal perpendicular, and at the lower right is an ornately framed Franklin portrait. This great rarity is the first we have seen and has only minor flaws noted, "Stains; Small Holes at Left." The overall eye appeal is excellent. The bank was missing from Stack's 2009 White Oak Collection section, the strongest offering of New York borough banks ever offered in one sale. This is a remarkable note. Ex: Eric P. Newman Numismatic Education Society.
Realized $2,232.50. Newman VI (Heritage Auctions, 4/2015), lot 19239. Description courtesy of Heritage Auctions.