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    Description

    Extraordinary Proof Essay Note

    Hessler ITE30 $500 April 1, 1863 Proof Essay. This note was authorized by the Act of March 3, 1863 to issue $400 million in Treasury notes bearing interest at a rate not exceeding 6% in lawful money for a term not exceeding three years. Interest was payable at periods listed on the face of the note. This essay was prepared with a medal-ruling machine. As Gene Hessler explains in U.S Essay, Proof and Specimen Notes, "when using a medal-ruling machine, a stylus is attached to the engraved point which feels the surface of the subject and changes the regular parallel path of the engraving point accordingly, so that the impression printed from the engraving reproduces the appearance of the original relief subject." The example presented here has the face and back designs glued together. The figure at left is of Christopher gazing towards a sunrise, mountains, and a large waterfall. The interest table is also located at center. Hessler has observed three complete essay proofs for this design. This example lacks the pencilled word "Specimen" and white tag that is on the back of the plated note in Hessler, the June 2000 offering of this design by Lyn Knight had rounded upper corners. This barely handled essay with four square corners, has a center fold and corner fold. Therefore, this is either the third recorded note, or perhaps a newly discovered piece. The back has also toned a shade. This is an extremely interesting essay that helps chronicle the evolutionary process for a Bureau of Engraving and Printing still in its infancy.

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    Auction Info

    Auction Dates
    September, 2005
    21st-23rd Wednesday-Friday
    Bids + Registered Phone Bidders: 5
    Lot Tracking Activity: N/A
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