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Lot 19314

Image Information

Type Currency
Title Lot 19314
Country U.S.
Grade Very Fine 25
Service PCGS
Description Charleston, SC - Bank of the United States (the Second) $10 Office of Discount and Deposit June 4, 1832 US-2 G198 SENC Sheheen-Not Listed. PCGS Very Fine 25 Apparent. This is a very rare and important genuine, issued Branch note type from the Second Bank and is illustrative of the complexity and technical nuances of Bank of the United States notes. Because Jim Haxby chose, justifiably, to create the Bank of the United States as a separate entity within Obsoletes, he made it easier to classify most of the notes from each of the chartering periods. Meanwhile in the SPMC Wismer project and other state specialized books, the note might be classified in a different manner. Eric Newman collected the branches within his state binders depending on their location, thus there was not one defined and collated Bank of the United States collection. This was an accurate method, since the notes were more relevant to the branch that emitted them than to Philadelphia, the location of the main bank, and the place where they were printed. Austin Sheheen, Jr., authored two books on South Carolina Obsoletes (the second in current use is South Carolina Obsolete Notes and Scrip, 2003, author) and did not list the Charleston Bank of the United States Branch notes. Engraved and printed by Fairman, Draper, Underwood & Co. At the top center is an eagle, wings spread wide, atop a shield, the vignette situated directly on the title across. Each end panel has shaded lathe work with TEN, the one on the right italicized. This design type 10B is not illustrated in Haxby, but four proofs of the design did appear in the 1990 ABN sale (on the back of a Maryland proof sheet). Accomplished nicely in flowing pen and re-endorsed on the back. The Apparent designation is for "Minor Stains," some foxing at the left which is mostly concealed. This is an important South Carolina note and Bank of the United States type. Ex: Eric P. Newman Numismatic Education Society. Realized $2,820.00. Newman VI (Heritage Auctions, 4/2015), lot 19314. Description courtesy of Heritage Auctions.

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