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Lot 20159

Image Information

Type Currency
Title Lot 20159
Country United States
Description St. Louis, MO - Treasurer of the City of St. Louis-City Treasury Warrant $2 June 1, 1861. PCGS Very Fine 25 Apparent. This series of notes was essential for the flourishing of St. Louis commerce at the onset of the Civil War, and Eric studied it closely to understand its many types and varieties. The state legislature authorized this issue, and the notes circulated for several years. They were receivable for taxes and city fees, making them essentially interest-free loan certificates. Their size and style made them easy to circulate. Based on serial numbers observed, it appears well over 100,000 notes were printed and issued. Most were heavily worn, and many have hole-cancels. The notes used numerous signature varieties and likely maintained the engraved date, but were issued continuously as needed. The commissioners who signed the notes were at first appointed officials. The legislature then ruled that elected treasurers would be the signatories. Notes were redeemed haphazardly, and incomplete records were kept. Some notes have no plate letters, like this example, and some have the letter "A." This may be a series letter rather than a plate position letter (no B, C or, D letters are observed). Contemporary counterfeit notes plagued the $3 denomination, but no false $1 and $2 notes have been observed by us. One of the finer-grade examples from the entire series he encountered over many decades. A beautiful, genuine $2 note engraved and printed by the American Bank Note Co., New-York. At bottom center, passengers are visible on the steamboat sailing past a bustling industrial area. Upper corners display "2" dies, and bottom corners show ornate frames enclosing printed serial numbers. No letter. No. 25346. Noted with a petty "Edge Split at Left." A beautiful, uncanceled example. Underrated and undervalued in this wonderful state of preservation. Ex: Eric P. Newman Numismatic Education Society. From Newman X (Heritage Auctions, November 2018), lot 20159, realized $840.

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Image Collection Eric P. Newman Collection, Part X
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