||La Crosse, WI - La Crosse County Bank $5 18__ WI-340 G8a. Proof. PCGS Gem New 66PPQ. This second denomination from the four denomination series was printed from the $1-$2-$3-$5 configuration proof sheet engraved and printed by Wellstood, Hay & Whiting, New York. Printed on India paper and mounted on cardstock, with an exceptional tint styled like the last, covers the note with a micro-lettered FIVE pattern. Deeper vermillion is around the frame and surrounds a black FIVE. In white, outlined by the tint is an enormous protector "V" in the center. This classic Wellstood vignette at the lower right shows a farmer at rest, and a wagon filled with wheat in the distance. Hole Punch Cancelled like all the Wellstood imprint proofs from the Newman Collection sheets. The only example we have observed, and one of the rarest titles from Wisconsin for any note. Though the bank closed after three years in business, the circulation was clearly redeemed at par, perhaps for many years, at the State Comptroller's office (like Minnesota banks, the issuer supplied collateral to the State to guarantee the circulation). This is a finalist in a most diverse selection of Wisconsin proof rarities. Ex: Eric P. Newman Numismatic Education Society.
Realized $9,987.50. Newman VI (Heritage Auctions, 4/2015), lot 19405. Description courtesy of Heritage Auctions.