||Salt Lake City, UT - Deseret University Bank $5 December 8, 1868 Rust 125 Nyholm 383. Schingoethe UT-220-5. Remainder. PCGS Extremely Fine 40 Apparent. College Currency notes are a field in themselves, and were not circulating money; instead they were used for business practice among the students. The standard reference for these notes was written by Herb and Martha Schingoethe (College Currency, Money for Business Training, 1993, BNR Press). The Deseret University Bank is among the most desired college note titles, and examples are very rare. This is an "ornate" style note, as referred to by Nyholm, and printed on white bond paper by J.O. Seymour, Kennard, & Hay, 9 & 11 Nassau St. N.Y. Titles are at top, and obligations across center. This note was hand dated and unissued. At the lower left is a vignette showing a dog chasing after livestock, with a train seen in the distance; at the lower right is an eagle on a shield. In the upper corners are denomination counters and in the center is the textual denomination. This is from the Third Issue of notes as catalogued by Schingoethe. This type is considered a Rarity-7 note (1-5 known), and this is accurate. Apparent with noted "Small Edge Splits and Tears," seen mainly from the back. Although it has some minor flaws, it has the eye appeal of the Ford VI note that sold for $2,760 over ten years ago. This is another interesting genre of notes contained in the Newman collection of Mormon issuers. Ex: Eric P. Newman Numismatic Education Society.
Realized $2,232.50. Newman VI (Heritage Auctions, 4/2015), lot 19371. Description courtesy of Heritage Auctions.