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Lot
17702

New Orleans, LA - $50 1882 Value Back Fr. 586 Canal-Commercial NB Ch. # (S)5649 A recently discovered specimen of this ...

2005 (CAA) St. Louis, MO (CSNS) Signature Sale #374

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Auction Ended On: May 7, 2005
Item Activity: 3 Internet/mail/phone bidders
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Description:
Excessively Rare $50 Value Back- One of Four in Private Hands
New Orleans, LA - $50 1882 Value Back Fr. 586 Canal-Commercial NB Ch. # (S)5649
A recently discovered specimen of this excessively rare type, which was issued by only two banks in the entire country. The census now stands at seven pieces, including this example, three of which are impounded in institutional collections and hence unavailable to the collecting fraternity. Needless to say, any offering of this type is a major event, with appearances at public sale often measured in decades rather than years. Although the bottom margin is trimmed very slightly into the design, and there are a few tiny closed margin splits, this piece is otherwise defect free, and has retained a most pleasing appearance for its grade. Its offering here allows one more collector to join that very small group of individuals who can aspire to completing a complete set of U.S. currency by denomination and type. Fine, and certainly rare enough to easily exceed our likely quite conservative estimate of...

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