Fr. 198 $50 18(63) Interest Bearing Note Progressive Essay Face Proof Hessler ITE9 PMG Choice Uncirculated 63.. ...

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Excessively Rare Progressive Essay Proof Fr. 198 $50 PMG 63

Fr. 198 $50 18(63) Interest Bearing Note Progressive Essay Face Proof Hessler ITE9 PMG Choice Uncirculated 63.
A plate letter B, serial number "0000" Face Proof of this excessively rare middle-of-the book number bearing an ornate green guilloche behind the words of, "Fifty Dollars," at center. A vignette of Loyalty is at upper left and a portrait of Alexander Hamilton is at lower right. The circulating issue of this design has an enumerated population of a meager three and it has been stuck on that low number for over 50 years. Researcher Gene Hessler has confirmed the existence of seven examples of this Proof as listed in U.S. Essay, Proof and Specimen Notes. The example in this lot is of the variety of this design that has "American Bank Note Company" spelled out at upper right. It is printed on India paper and mounted on cardstock. The back label talks of minor paper damage, which must be the four small POC in the two signature spaces that are now concealed by the backing. Almost all Proofs were cancelled in some fashion, because this was a deterrent to having them sneak off into circulation. An annotation is also listed on the back label. This was because the word, "Specimen," was handwritten in blue pencil at bottom center. These foibles are minor for Proofs and they will not keep away any serious bidders.

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