||New York, NY - Merchants Bank in the City of New York $1 NY-1745 UNL. Proof. PCGS Very Choice New 64. This is a stunning, unlisted series green tinted type from an extremely colorful New York City series printed using the (George) "Lymen's Protection," engraved and printed by the American Banknote Company. This is the first green tinted Lymen's Patent proof we have ever seen. The Lymen's Protection was used on very few issues (most often seen on the red tinted Detroit's State Bank of Michigan remainder notes) and, along with the green color tint, divided the note into different compartment widths depending on the denomination. In the Lymen's Patent tinted $1 layout, the note is divided two-thirds at the left end and one-third at the right. The patent explanation is not engraved on the plate as it is on the Lawrence Bank (Lawrence, Kansas) notes included in this sale. India paper mounted on original cardstock Hole Punch Cancelled through the India paper only, as required and as made. In the wider left compartment, the green color tint is deep and shows intensely intricate patterns with micro-numerical "1" dies and outlined ONE. At the upper left is a male portrait, with the New York Bank Seal at the bottom corner, and title at the bottom center. At the right end compartment (the one-third portion) is a tall ornamental numerical "1" with title repeated and signature blocks stacked at the bottom. Superlatives often escape us when encountering a magnificent Obsolete such as this and discussing it in the context of its importance within the canon. Very few banks used the expensive Lymen's Patent devices, and although the red tinted notes from this title are known, one with a green tint is a discovery note of exceptional stature. This is another trophy from the Newman collection New York section. Ex: Eric P. Newman Numismatic Education Society.
Realized $11,162.50. Newman VI (Heritage Auctions, 4/2015), lot 19259. Description courtesy of Heritage Auctions.