||St. Croix, WI - St. Croix Valley Bank $5 July 1, 1857 WI-715 G2. Proof. PCGS Gem New 66PPQ. This is the first half of another superb pair of full color Wellstood, Hay & Whiting, New-York proofs; it was printed on India paper using the $5-$10 plate. Any issued notes from the bank in collections appear to be unlikely, as they were in business for five years only (1857-1862).These illustrated proofs are also seen on the proof sheet archived in Madison. Across the note is a light orange pattern tint of micro-lettered FIVE with an outlined large protector FIVE in white and deep vermillion in the upper right counter. At the top center is a rare Wellstood vignette of river rafters, very reminiscent of Mississippi River migration and transportation in this period. At the upper left is a close-winged bird of prey high above a scenic vista. At the far right is a classic Wellstood element with a tall, ornate "5" with small Indians in the foreground, the train behind billowing black smoke. Hole Punch Cancelled as made. There are no auction records to cite, nor comparisons to make, except in general terms. However, style and rarity are combined with nearly perfect condition. This is another exceptional Newman Collection Obsolete note that is unique in private hands. Collectors should bid accordingly. Ex: Eric P. Newman Numismatic Education Society.
Realized $9,987.50. Newman VI (Heritage Auctions, 4/2015), lot 19430. Description courtesy of Heritage Auctions.