Very Rare Philadelphia Canal Company "400 Cents" Note

    Philadelphia, (Pennsylvania) - Company of the Delaware & Schuylkill Canal Navigation Mar. 1793 $4 or 400 Cents Newman page 369, Hoober 305-745. PCGS Choice About New 58PPQ.
    A superb example of a very rare private company note with an interesting dual-denomination designation. This series is printed on thick, watermarked PENNSYL/VANIA paper by R. Aitken & Son. The ornamental bordering on the bottom is different from the other three sides. The text is across and the partial title is at the top. Hand dated, issued to Wm. Gonnett with his endorsement on the blank back. Signed by the treasurer Tench Francis, who signed for the Bank of North America as cashier. The embossed company seal is in the center, with the positive image seen from the back. This serial number 164 note is beautifully printed. The DuPont Collection also had a $4 (400 cents) note in similar condition, which sold in the Smythe March 1993 sale (lot 2299) for $1,595. We sold the Newman plate note $3/300 cents denomination in May 2016 for $2,232.50 in PCGS Choice About New 55PPQ. This is another rare and important early private note from the Newman Collection. Clearly an established four-figure piece.
    Ex: Eric P. Newman Numismatic Education Society.

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    Auction Dates
    Dec-Jan, 2017
    7th-11th Wednesday-Wednesday
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    Truth Seeker: The Life of Eric P. Newman (softcover)
    A powerful and intimidating dealer of the 1960s, backed by important colleagues, was accused of selling fraudulent gold coins and ingots to unsuspecting numismatists. Who would go up against a man like that and, over the course of decades, prove the fraud? Who would expose a widely respected scholar as a thief, then doggedly pursue recovery of coins that the scholar had stolen from an embarrassed numismatic organization, all over the objections of influential collectors who had bought coins with clouded titles? Eric P. Newman would - and did. Reserve your copy today.
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