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Lot 19260

Image Information

Type Currency
Title Lot 19260
Country U.S.
Grade Very Fine 20
Service PCGS
Description New York, NY - Bank of New York $2 July 1, 1861 NY-1790 G250b SENC. PCGS Very Fine 20. The Bank of New York, founded 1784 and still known today as "BONY," is one of the first three banks established at the infancy of the independent United States of America. Their earliest notes are listed in The Early Paper Money of America, including the 1786 notes denominated in Pounds (see the unique Newman Plate Note 4 Pounds example, ex: James DuPont Collection March 1993 Smythe sale). The soundness of this bank, with its immense capital and important connections, created many series of notes depending on the banking laws of the time, legal requirements, and aesthetic considerations of the bank officials. The bank redeemed most of their Obsolete circulation, even after the Civil War. When this late series note was engraved and printed by the American Bank Note Company; it was concurrent with new Demand Notes and impending early Legal Tender notes to be introduced in 1862. At the center, under the arced title, is standing America engraved by Alfred Jones and also used on the $20 Demand Notes. At the left end is the New York Bank Seal, perpendicular. The other three corners show different "2" dies, the upper ones with green circular frames. The green frame is all around, with wide side panels and flanking green dies on each side of the central vignette. Though this is an SENC listed note, we have seen a few over the years and would likely assign it an SPMC Wismer Project Rarity-6 rating (6-10 known). This is an especially sharp looking example for the technical grade and among the finest issued notes of the type we have seen. Ex: Eric P. Newman Numismatic Education Society. Realized $3,290.00. Newman VI (Heritage Auctions, 4/2015), lot 19260. Description courtesy of Heritage Auctions.

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