||Jamestown, NY - Cassadaga Bank $10 Sept. 1, 1851 NY-1095 G8. Remainder. PCGS Choice New 63PPQ. This is a rare remainder from a distinctively engraved series of notes by Gavit & Co., Albany imprint. The Gavit imprint is less frequently encountered, and used on a few New York banks and two from the District of Columbia. John E. Gavit and Gavit & Co. were part of the 1858 merger of seven firms into the American Bank Note Company and John E. Gavit served as its president from 1866-1874. This remainder note printed on bond paper has ample Gavit & Co. style. At the upper left is the New York State arms. At the far left is Washington and at the far right is seated Commerce over the New York Bank Seal. The base vignette shows a standing Indian with a bow on a rocky ridge. A rare note once part of four-subject $1-$2-$5-$10 sheet configuration. The margins are tight only because the notes were spaced closely on the sheet. This is a Choice example and the first we have ever offered for sale. Ex: Eric P. Newman Numismatic Education Society.
Realized $1,997.50. Newman VI (Heritage Auctions, 4/2015), lot 19245. Description courtesy of Heritage Auctions.