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Lot 19418

Image Information

Type Currency
Title Lot 19418
Country U.S.
Grade Very Choice New 64PPQ
Service PCGS
Description Milwaukee, WI - Globe Bank $1 18__ WI-470 G2a. Proof. PCGS Very Choice New 64PPQ. Milwaukee's Globe Bank is arguably the rarest title from the city and perhaps the entire state. They were in business a mere eight months, from June 1, 1857 to January 1858 (see Watrous, page 563), and reports are that using their authorized $125,000 capital (but "$100,000" is engraved on the note) they issued and redeemed their notes, leaving $100 to redeem the rest that was outstanding in 1860. This stunning Toppan, Carpenter & Co., New York & Phila. imprint full color tinted proof was printed from a $1-$2 configured sheet on India paper. A full, light orange lace tint covers the note with an outlined white protector ONE at bottom center. The title is across the center, and above the left portion is Fame, blowing her trumpet as she floats in the clouds with an eagle and globe. At the far left is the full vertical vignette of Atlas, on one knee, supporting the world. North America is lightly visible, but titled "MINNESOTA," "WISCONSIN," and "IOWA" are clockwise and prominently seen. The banking policies of the three states were linked together at that time; Iowa was once part of the Wisconsin Territory before each became individual states. Hole Punch Cancelled through the India paper. There is only one other known, the example held in the Wisconsin Historical Society at Madison and plated in both references. This is a priceless note exhibiting the state of the art color and engraving techniques of the 1850s and TCC. This note is from a bank never before offered for sale. In our estimate, the highest realization might prove a bargain when factoring in its extreme rarity and beauty. Ex: Eric P. Newman Numismatic Education Society. Realized $11,162.50. Newman VI (Heritage Auctions, 4/2015), lot 19418. Description courtesy of Heritage Auctions.

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Image Collection Eric P. Newman Collection, Part VI
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