| Description |
San Francisco, CA � Imperial Government of Norton I 50 Cents "Payable in 1890 or Convertible into 4% Bonds" December 19, 1879. PCGS Very Fine 30 Apparent. A third interesting Emperor Norton I type from the Newman Collection. Fred Marckhoff, in his 1962 groundbreaking article, "Norton I of California," considers this payable in 1890-obligation type as replacements for his outstanding notes as 1880 approached. Most (if not all) note holders certainly did not believe they would get specie for their notes, but this this type would certainly convert anything they turned in. Uniface, printed on soft rag paper. Without imprint, possibly by Charles A. Murdock & Co. as noted in the Marckhoff article. The size of the Norton vignette and style of seal are different. 25.1 cm x 10.7 cm. The size of the Norton vignette and style of the seal are different from the previous, but the overall layout is similar. At left is the half-length Norton I portrait in uniform. At right is the California State seal, but much less detailed than on the previous, with the wavy UNITED STATES. above. The arced title "The Imperial Government of" at top center is over a simple NORTON I. Below, the obligation makes the note due in 1890, with conversion to 4% interest bonds. These were also "payable in Gold Coin." Marckhoff Type 5a. No. 3005. Hand-dated December 19, 1879. Signed at the lower right by Norton I, Emperor. Not stamped with the crude black "seal." A sub-variety in the census compiled by Marckhoff, but this is actually Type 6; an entirely different type from previous issues and apparently the last. The type was not in Ford, and its low quality rag paper would make survivors very rare. Noted with "Small Edge Splits and Tears; Small Repairs." Full size all around with wide margins. This presents very well and fits together with the prior two examples, creating an important trio of these historical San Francisco currency notes. Ex: Eric P. Newman Numismatic Education Society.
From Newman X (Heritage Auctions, November 2018), lot 20113, realized $11400. |
