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Auction 396 | Lot 17104 » Demand Notes » Demand Notes

Fr. 41a Hessler 153 $2 1862 Legal Tender Face Proof New. Plate letter C adorns this example, while Gene Hessler in An Illustrated History of U.S. Loans only mentions plate letter D example for this design. This proof has been printed on India paper and backed with light card stock. It also has six POCs in the signature area. There are no handling folds, but a small notch is missing from the top edge. Still an important proof and a great opportunity for the collector looking for a field in United States paper money where rarity far outweighs price.
From the California Proof and Specimen Collection.

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Jan 7, 2006

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Auction 396 | Lot 17105 » Demand Notes » Demand Notes

Fr. 41-41a Hessler 153 $2 1862 Legal Tender Back Proof Gem New. A dark green printing highlights this India paper back proof that is mounted on light card stock. Acute corners frame this well preserved example.
From the California Proof and Specimen Collection.

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Auction 396 | Lot 17106 » Demand Notes » Demand Notes

Fr. 62 Hessler UNL $5 1862 Legal Tender Back Proof New. Hessler does not list a back proof for this design, though a face proof was mentioned in a letter dated July 25, 1862 from the National Bank Note Co. to the Assistant Secretary of the Treasury. This face proof has not turned up since. The back proof offered here is printed on light card stock. Handling is restricted to a small corner fold and evidence along the bottom edge of once being possibly mounted. Also, right below the top edge is a trivial defect in the card stock before printing took place. Nonetheless, a historic proof that pre-dates the BEP.

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Auction 396 | Lot 17107 » Demand Notes » Demand Notes

Fr. 95 Hessler UNL $10 1863 Legal Tender Face Proof New. Hessler does not list a face proof of either date for this design. This plate letter B example was printed on India paper and mounted on light card stock. Six POCs are along the signature lines, with one punch cancel not being fully punched through. Cut cancels are also found along the signature lines. However, the mounting of this proof has helped repair the cut cancels, except for a small triangular piece missing from the Register of the Treasury's signature block. Still another great note, and an opportunity that will not duplicate itself soon.
From the California Proof and Specimen Collection.

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Auction 396 | Lot 17108 » Demand Notes » Demand Notes

Fr. 94-95b Hessler UNL $10 1863 Legal Tender Back Proof Gem New. This back proof was printed on card stock and then attached to a light card stock backing. This specific printing and mounting is not mentioned in Hessler. This sturdy method for proofs certainly helps them to ward off unwanted creases as this example can attest to. This handsome proof has retained its dark green ink over the intervening 140 years.
From the California Proof and Specimen Collection.

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Auction 396 | Lot 17109 » Demand Notes » Demand Notes

Fr. 148 Hessler 926 $50 1862 Legal Tender Face Proof Choice New. Hessler mentions B and D plate letter proofs, but not a plate letter C example. This proof was printed on India paper and then mounted on thin card stock. There are eight POCs in the signature blocks. This mounting has led to a couple of spots where the adhesive has bled through. An impressive proof nonetheless and sure to please the connoisseur of exotic notes.
From the California Proof and Specimen Collection.

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Auction 396 | Lot 17110 » Demand Notes » Demand Notes

Fr. 148 Hessler 926 $50 1862 Legal Tender Back Proof Gem New. This back proof was printed on card stock and then backed with light card stock. The green ink is absolutely wonderful on this pristine proof.
From the California Proof and Specimen Collection.

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Auction 396 | Lot 17111 » Demand Notes » Demand Notes

Fr. 165 Hessler 1120 $100 1862 Legal Tender Face Proof Choice New, PC. This plate letter B face proof sports serial number 00000 in red ink. Hessler only mentions a plate C note with this format for this design. The example presented here is printed on light card stock with six punch cancels through the printed signatures of Chittenden and Spinner. Handling signs include a corner tip fold and a light moisture spot on the back of this proof. A great historical item and destined to enter another great proof collection.

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Auction 396 | Lot 17112 » Demand Notes » Demand Notes

Fr. 165-165a Hessler 1121 $100 1862 Legal Tender Back Proof Gem New. This back proof was printed on India paper and mounted on light card stock. It doesn't exhibit any folds or creases, but a hint of adhesive is detected between the proof and backing.
From the California Proof and Specimen Collection.

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Auction 396 | Lot 17113 » Demand Notes » Demand Notes

Fr. 167a Hessler UNL $100 1863 Legal Tender Face Proof Gem New. There is not a proof listed in Hessler for this design with the 1863 date. This plate letter C example was printed on card stock and then backed with thin card stock. It has five POCs along the signature lines. This is a majestic proof with the Spread Eagle vignette and the large green counter, and it is also worthy of the finest collection.
From the California Proof and Specimen Collection.

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Auction 396 | Lot 17114 » Demand Notes » Demand Notes

Fr. 198 $50 1863 Interest Bearing Face Proof PCGS Choice New 63. This is a plate letter D proof impression of the face of this rare issue that bears an elaborate latticework olive-green overprint and is also stamped "SPECIMEN" at right. Only three fully issued examples of this number are documented, making this proof that much more desirable. There are four oblong punch-out cancels through the Treasury signatures, plus three pie-slice shaped cancellations at center. In U.S. Essay, Proof and Specimen Notes by Gene Hessler there is not a description of a proof of this design with a full overprint. As with almost all Federal proofs, this note is excessively rare and undervalued, and a great opportunity for the astute collector.

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Auction 396 | Lot 17115 » Demand Notes » Demand Notes

Fr. 202a Hessler 945b $50 1861 Interest Bearing Note Face Proof Gem New. This design type is one of the rarest in United States paper money. It is represented by a single signed and issued redeemable example, which we have sold twice, the last time in February 2005 for $368,000. That note, and another issued note, which has been punch cancelled, redeemed and now resides in the Bureau of the Public Debt in Washington DC, are all that are listed in the census of issued notes. Hessler also records three face and back proofs on thin paper in his proof census, but there is no mention of a face proof only example. In fact, we sold Jim O'Neal's dual sided proof example for $25,300 in May 2005. The plate A uniface proof presented here is printed on card stock with a thin card backing, and there are six POCs found in the signature block. This sharply printed and colorful proof of a major rarity will certainly be a highlight for the next collection it enters.
From the California Proof and Specimen Collection.

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Auction 396 | Lot 17116 » Demand Notes » Demand Notes

Fr. 202c Hessler 1340b $500 1861 Interest Bearing Note Face Proof Gem New, PC. Only proofs are known for this Friedberg number. This face plate letter B proof has been printed on India paper and mounted on card stock. Uniface proofs for this design are not mentioned in the excellent Hessler reference. Also, six punch cancels are found along the signature blocks on this captivating black and green proof. A trivial spot is noticed in the right-hand margin, but in no way does it detract from the majestic beauty of this rare proof.
From the California Proof and Specimen Collection.

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Auction 396 | Lot 17117 » Demand Notes » Demand Notes

Fr. 202d Hessler 1393b $1000 1861 Interest Bearing Note Face Proof Gem New, PC. There are no issued notes for this design known, and in fact Friedberg mentions only one complete proof in existence. We sold that proof as part of the Jim O'Neal Collection in May 2005 for $37,375. This plate letter C face proof is printed on India paper and mounted on card stock. It also has six punch cancels along the signature blocks. For face proofs, the Hessler reference only mentions a single plate A note. This noble proof will surely create a stir in the auction room tonight.
From the California Proof and Specimen Collection.

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Auction 396 | Lot 17118 » Demand Notes » Demand Notes

Fr. 202d Hessler 1393b $1000 1861 Interest Bearing Note Back Proof Gem New. Back design proofs for this Friedberg number are not documented in the Hessler reference. This example is printed on India paper and is unmounted. The thin India paper has led to a couple of pinholes and a miniscule edge blemish. Still, a great back proof and one that can be combined with the face proof above in order to form only the second complete proof note for this Friedberg number.
From the California Proof and Specimen Collection.

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Auction 396 | Lot 17119 » Demand Notes » Demand Notes

Fr. 204 Hessler 1143 $100 1863 Interest Bearing Note Face Proof With Three Attached Coupons Gem New. This Fr. 204 plate letter A face proof is printed on card stock backed with thin card stock. Unlike Hessler 1143, this example is without Treasury officer signatures. Six POCs have also been applied in the signature area, while each of the attached coupons have two POCs through the only signature found on them, Chittenden's. The back center has a paper crease which is not associated with the actual proof, but is found in the backing. This is a stunning beauty with detailed vignettes of Farmer and Mechanics, the Treasury Building, and a vignette titled, In the Turret, which displays a Civil War naval gun crew preparing to fire. There are only two issued Fr. 204's known, with just one in private hands. We sold that note in our Taylor Family Collection auction in February 2005 for $299,000. This well preserved proof will be a beautiful addition to the next collection it enters, and if you are determined enough, that could be yours.
From the California Proof and Specimen Collection.

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Auction 396 | Lot 17120 » Demand Notes » Demand Notes

1886 $10 Tombstone Proof. Printed from the finished face plate, lacking only serial numbers and the seal. The note has four punch-holes at the signatures, and the inside of the Tombstone-shaped vignette has been very carefully cut away leaving Hendrick's portrait in silhouette. We can only conjecture whether this alteration was contemporary or done at a later date, but it does afford the opportunity to overlay this piece on various back designs to see which would work best with the portrait. This piece is either worth less than most of the very rare Federal Proofs as an altered item or worth more as a unique developmental piece. The bidders will decide. The note is pristine save for two minor handling crinkles.
From the California Proofs Collection.

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Auction 396 | Lot 17122 » Demand Notes » Demand Notes

Fr. 387 Hessler UNL $2 National Bank Note Face Proof Gem New. The National Bank Note Co. produced this striking plate letter A proof of the Lazy Deuce design. The workmanship is a thrill to study as every intricate engraved detail is revealed by this numismatic marvel. It was printed on card stock and then backed with thin card stock. The corners of the proof are sharp, while nary a mishandling crease can be found on the actual proof. Hessler lists Deuce proofs on the First NB of Philadelphia and Peoples NB of Brattleboro, but not this example. Also, this face proof is not punch cancelled along the bank officer signature lines, therefore greatly adding to its eye appeal and desirability. Certainly, a great item for either the Federal or National collector and deserving of serious attention.
From the California Proof and Specimen Collection.

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Auction 396 | Lot 17123 » Demand Notes » Demand Notes

Fr. 387-93 Hessler UNL $2 National Bank Note Back Proof Gem New. Lovely blue-green ink frames the wonderful 3-D appearing vignette of Sir Walter Raleigh Presenting Corn and Tobacco to the English on this back design proof. Engraving details such as the feather pen in the inkwell, the lamp's flame and the startled looks on the audience's faces as Sir Raleigh exhales smoke are a delight. This well preserved proof has also been printed on card stock and mounted on light card stock like its face counterpart. An especially intriguing aspect of this proof is that the New Jersey state seal oval is printed on the right side and the eagle vignette oval is on the left side. The final accepted back design has these ovals reversed. Hessler in U.S. Essay, Proof and Specimen Notes exhibits a Pennsylvania Deuce back proof that has the state seal and eagle ovals in the issued design positions. In fact, all National back proofs pictured in Hessler have the state seal and eagle ovals in their issued positions, making this proof possibly unique in that the ovals are reversed.
From the California Proof and Specimen Collection.

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Auction 396 | Lot 17124 » Demand Notes » Demand Notes

Fr. 452-63 Hessler UNL $100 National Bank Note Back Proof About New. This is an item that has us baffled, as it may or may not be a proof. It is printed on India paper and the green ink portion of the note is printed as sharp and crisp as any done by the BEP or the two New York bank note companies. However, the faces of the statesmen are not as expertly engraved, leaving the impression that some of the participants at the Signing of the Declaration of Independence are decidedly sad or upset. We have not seen a counterfeit note or a counterfeit detector note printed on India paper, leading us to the proof theory. However, we have not seen all in the paper money world. The note displays a top margin fold and a small margin tear is also noticed. It is offered without estimate. From the California Proof and Specimen Collection.

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Auction 396 | Lot 17125 » Demand Notes » Demand Notes

Fr. UNL $1000 1862 United States Treasury Assistant Treasurer of the United States at Boston Certificate. This is a punch cancelled unissued Boston Clearing House Association $1000 certificate that would have been payable in at least thirty days with interest in Legal Tender Notes. Due to multiple endorsement lines found on the back, it is believed that these may have had prospects of becoming a circulating medium. Less than a handful of these have popped up in collector circles over the years, with this being the only red-orange example. The others are printed in green ink. As of June 30, 1896, only $3,000 remained outstanding of this issue and it is destined to be forever elusive. This example's punch cancel extends to the bottom edge, while the upper left-hand corner has been dislodged, otherwise Fine-Very Fine and a paper money item that should not be overlooked.

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Auction 396 | Lot 17126 » Demand Notes » Demand Notes

Fr. UNL $5000 1862 United States Treasury Assistant Treasurer of the United States at New York Certificate. This is a rare unissued New York Clearing House Association $5000 certificate that is similar to the preceding lot. This Very Fine certificate has a few top edge tears with two extending down to the frame line. Also, two small black rectangles on the back may have been for mounting. This is a rare opportunity to land the only example of this denomination that we have been able to trace.

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Auction 396 | Lot 17127 » Demand Notes » Demand Notes

Fr. UNL 186_ United States Treasury Assistant Treasurer of the United States at New York Gold Coin Certificate. This is in the similar style of the two preceding lots, but it was a certificate for depositing gold coin for at least thirty days and receiving the principal plus interest when this certificate was surrendered. The amount of gold coin deposited would be hand-written in and these were a multiple part form. This Very Fine certificate was once possibly mounted, leaving behind a small hole in the upper right-hand corner. Two small black rectangles are also noticed on the back of this certificate. Another great opportunity to explore little known areas of American government finance.

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Auction 396 | Lot 17130 » Demand Notes » Demand Notes

Fr. 1 $5 1861 Demand Note PCGS Fine 15. Better margined than most Demand Notes, and apparently free of the splits, holes and repairs that plague this early weak-paper issue. The right-hand signature has faded, but the left signature remains strong.

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Auction 396 | Lot 17131 » Demand Notes » Demand Notes

Fr. 3 $5 1861 Demand Note CGA Fine 15. But for a few inconsequential pinholes, this Boston Demand Note is an extremely nice example of the grade. The margins are far broader than normal, and the note has bold hand signatures.
From The Ross Bailey Collection

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