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Lot 19250

Image Information

Type Currency
Title Lot 19250
Country U.S.
Grade Very Fine 20
Service PCGS
Description New York, NY - Artisans Bank $1 Oct. 15, 1856 NY-1445 G2a SENC. PCGS Very Fine 20 Apparent. This bank's notes would be virtually unknown to Obsolete collectors if not for the 1990 American Bank Note Company Archive auction's proof sheets, all with different configurations and diagnostics. Issued notes from the title are exceedingly rare and we know of only three, including this Newman collection red tinted type. The bank's history is unclear, but it was short-lived and after it closed, its remaining notes appeared to be guaranteed as sound and redeemed when presented. However, what seemed to be an ample supply of proofs for collectors from the 1990 ABN offerings diminished when the three best red color tinted proof sheets (with twelve proof positions) were purchased by John Whitney Walter (major United States Federal note collector dubbed "Mr. 1796"). They were sold at auction in October 2004; eventually, they were cut into individual proofs and have sold at auction in the past five years, with the unique $50 and $100 proofs exceeding $10,000. The last issued note was the $1 yellow tinted Seropyan's Patent type (Fine, somewhat brittle edges) sold in August 2013 Ford Part XXII for $3,055. The $5 Artisan's issued note, low grade with a Muscalus-Schingoethe pedigree, realized $1,092.50 at the 2012 ANA Sale. The type offered here is artistically rendered with the highest standards, as expected from the Danforth, Wright & Co., New-York & Philad. imprint. The note has a full red tint on black lace across the note with tall numeral "1" protectors outlined in white flanking the center vignette of a standing blacksmith. At the lower left is the New York Bank Seal and at the lower right, a facing young boy's portrait, his gaze frozen in time and with a timeless impatience evident, used on this series only. Overall this is a very attractive issued note with vibrant color, considering its circulation. Well margined and mostly clean surfaces, but noted are "Minor Rust Stains on Back," with a patch of them visible on the face's upper left edge. This is superior in most ways to the twenty proof impressions known and cited, many which have been auctioned for $5,000 or more. A regal note from New York City. Ex: Eric P. Newman Numismatic Education Society. Realized $3,055.00. Newman VI (Heritage Auctions, 4/2015), lot 19250. Description courtesy of Heritage Auctions.

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Image Collection Eric P. Newman Collection, Part VI
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