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Lot 19254

Image Information

Type Currency
Title Lot 19254
Country U.S.
Grade Choice About New 58
Service PCGS
Description New York, NY - Franklin Bank of the City of New York $1000 18__ NY-1610 UNL. Proof. PCGS Choice About New 58 Apparent. An exceedingly rare highest denomination demand note proof from the Franklin Bank engraved and printed by Abner Reed, but without an imprint, on India paper. The series was not present in the Abner Reed archive proof book, once owned by F.C.C. Boyd, that was disassembled in the late 1970s for eventual sale in 1983 (NASCA Abner Reed sale) and 1999 (Stack's Americana Sale.) The core New York proofs from that archive and the Leney & Rollinson archive book (also owned by Boyd at one time) were sold in 1999. Our survey of many auction sales with New York notes and proofs yielded no examples from this Franklin Bank demand note series (only Post Notes as plated in Haxby from the Boyd-Ford book). This has an exceptional Reed vignette at the top with a United States warship, likely a small frigate, off a lighthouse point. Across the note is a finely engraved Gothic title (interrupted by the lower part of the vignette) with obligations; the base vignette shows a profile of Franklin rendered after Houdon. The ends show finely detailed, intricate end panels with perpendicular ONE THOUSAND in cartouches. Noted as "Pen Cancelled," with squiggles across the signature blocks and "Stains," which consist of some modest, scattered foxing. We consider this fascinating and desirable New York City proof unique. Ex: Eric P. Newman Numismatic Education Society. Realized $3,055.00. Newman VI (Heritage Auctions, 4/2015), lot 19254. Description courtesy of Heritage Auctions.

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