||Milwaukee, WI - Germania Bank of G. Papendick & Co. $2 185_ WI-465 G4. Proof. PCGS Choice New 63. Like many proofs featured, likely unique in private hands. It is virtually unheard of except from listings in reference catalogs or period Bank Note Reporters. Krause did not have this bank, which operated from 1854-1855 and failed, the notes signed by two Papendick brothers. According to Krause, the bank finally liquidated in 1859 with $25 in specie left over. This fabulous ethnic title, perfect for Milwaukee and the namesake cashier and president, was printed from the engraved plate by Toppan, Carpenter, Casilear & Co., New-York & Phila. A boldly printed India paper proof mounted on cardstock, Hole Punch Cancelled through the India paper only. Slightly right of center, under the long title, is a livestock merchant displaying his herd. At the far left is a small vignette of Liberty trampling Tyranny (the Virginia emblem) lending a Wagnerian touch to this "Germania" title. At the lower right is a little girl's portrait shown in three quarter view. We are fairly certain this is the first time the bank has been offered at auction. Perfectly margined and bright, but with some very subtle wisps of some foxing seen here or there, precluding the PPQ designation. However, based on pedigree research this is unique in private hands. Ex: Eric P. Newman Numismatic Education Society.
Realized $3,525.00. Newman VI (Heritage Auctions, 4/2015), lot 19417. Description courtesy of Heritage Auctions.