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Richmond, VA- Bank of the Commonwealth $50 18__ as G8a as Jones as BR15-40 Proof PMG Choice Uncirculated 63, 4 POCs.. ...
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Sold on Sep 13, 2023 for:
$1,080.00
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Description
Richmond, VA- Bank of the Commonwealth $50 18__ as G8a as Jones as BR15-40 Proof PMG Choice Uncirculated 63, 4 POCs.This was originally an Independent (Free) Bank authorized by the General Assembly in 1858. Like many of Virginia's Independent Banks it opted out of that form of business sometime around 1860-61. That change of status is not reflected on this note, as it was designed before that change took place. By 1863, the bank's circulation was secured solely by Confederate bonds. The bank had intended to hold a regular stockholders' meeting on April 12, 1865 but Richmond fell to Union forces on April 3, 1865. A fire swept through portions of the city and the bank burned to the ground; essentially ending its business. Its fate is witnessed by the fact that its notes were quoted at between 5¢ on the dollar and "no sale" in 1866-67. The note itself reflects the high style of bank note design on the eve of the Civil War. A large vignette of a slave mother and child is flanked by an oval portrait of James Monroe at left and the state banking die at right. ABNCo added a red FIFTY-L-FIFTY protector, red bank title, and bicolor denominational counters to increase protection against counterfeiting. The note is printed on India paper with the usual POCs in the signature lines. PMG mentions discoloration which refers to the oxidation of the red ink portions of the design. There was one example of this note appearing in the 1990 ABNCo Archives sale and we are aware of around four examples of this Proof at present.
From The Neil A. Chiappa Collection
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Auction Info
2023 September 13 - 15 Long Beach Expo US Currency Signature® Auction #3593 (go to Auction Home page)
Auction Dates
September, 2023
13th-15th
Wednesday-Friday
Bids + Registered Phone Bidders: 5
Lot Tracking Activity: N/A
Page Views: 174
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