| Description |
St. Louis, MO- Bank of the United States (the Second) $10 Office of Discount and Deposit Contemporary Counterfeit March 14, 1829 US-2 UNL. PCGS Very Fine 25 Apparent. A museum-quality example of a very rare and underrated note. This is the third denomination from the Newman Collection trio and by far in the finest condition. The St. Louis branch of the Second Bank of the United States opened in 1829. Though the bank was successful, President Andrew Jackson, supported by former adversary Thomas Hart Benton, vetoed rechartering the bank. This "Office of Discount and Deposit" note is not listed in Haxby despite being an "on demand" instrument. This is an imitation of the Murray, Draper, Fairman & Co. engraved plate, and the details are less defined throughout. An eagle, perched on a shield, hovers above the ocean at top center. End panels have small portraits in lathe work, although much less fine and intricate than on the genuine. The obligation is across. Plate A. No. 39. False signatures of the cashier and bank president are at the bottom. This very crisp example has a boldly penned "St. Louis." Noted with a "Small Hole at Top Right," but it is impressive looking and well-margined overall. Though a contemporary counterfeit, anything from this branch is very rarely seen. St. Louis was not represented in two specialized Bank of the United States collections sold in the past few decades. The St. Louis $20 we sold in Newman Part VIII was lesser grade than this and realized $1,920 in spirited bidding. The Newman Collection notes are the first and only St. Louis branch notes of any kind we have ever cataloged, and this is a key Missouri and Bank of the United States type. Ex: Eric P. Newman Numismatic Education Society.
From Newman X (Heritage Auctions, November 2018), lot 20148, realized $2640. |
