||Janesville, WI - Producers Bank $5 18__ WI-290 G8a. Proof. PCGS Gem New 66PPQ. This is another very stunning, full color proof from the Wellstood, Hay & Whiting, New York imprint, a firm not contained in the 1990 American Banknote Company Archive sales. In this series, the $5 proof is the highest denomination and we know of only one other proof, a $3 India paper proof affixed to paper. Initially discovered in 2007 it was part of the "Wellstood Album" that was broken up and sold at the Memphis auction. This WHW proof is printed on India paper and mounted on its original cardstock. The complete light orange tint has a micro-lettered pattern FIVE across the note with deeper orange around the frame; the left and right corners show shield-like counters. The left end shows a perpendicular italic FIVE between micro-lettered panels. The top center has a vignette showing wild horses running, a very rare version used on only a few notes. At the bottom center is a well-styled denomination counter. Hole Punch Cancelled as made. There are no issued notes known from the bank and the only offering seen by us was the cited "Wellstood Album" $3 proof. This Gem example of the most beautiful type from the series is an exciting offering. Ex: Eric P. Newman Numismatic Education Society.
Realized $9,987.50. Newman VI (Heritage Auctions, 4/2015), lot 19402. Description courtesy of Heritage Auctions.