||Madison, WI - Wisconsin Bank of Madison $2 18__ WI-405 G4a. Proof. PCGS Superb Gem New 67PPQ. The Newman Part VI sale contains one of the largest groupings of full color Wellstood, Hay & Whiting, New York. The Wisconsin Bank of Madison is very rare, and there are few proofs or Specimen notes in collectors' hands. This $2 proof is printed on India paper and mounted on cardstock. The red tint favored by WHW covers the note with a micro-lettered TWO pattern, becoming deeper vermillion around the frame and upper right counter. At top center, titled above the oval, is James Madison's portrait. Flanking in support are a farmer and an Indian. At the left end is a perpendicular TWO. Hole Punch Cancelled through the India paper only. We know only of the $2 Specimen note of this type in the second Krause sale, which realized $5,175. This is a bold, nearly perfect vibrant color proof. Ex: Eric P. Newman Numismatic Education Society.
Realized $4,935.00. Newman VI (Heritage Auctions, 4/2015), lot 19410. Description courtesy of Heritage Auctions.