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    Description

    Unique Fr. 202as $50 Act of March 2, 1861 Two-Year Note Specimen
    Ex: Anderson-O'Neal-Vattemare Albums

    Fr. 202as $50 Act of March 2, 1861 Two-Year 6% Interest Bearing Note Hessler X126F (old 945b). Specimen. PMG Choice About Uncirculated 58.
    A highlight from the Mike Coltrane Collection and spectacularly beautiful. Although it is not a member of the Fr. 202a issued-note club, this is a significant offering. The last admittance fee for an issued Fr. 202a note crossed $1,000,000 in August 2018. The only other issued note is in the Bureau of Public Debt Collection and not available to collectors. This specimen note is printed on bond paper as used on issued notes, but prepared for archival use. In this particular case, the specimen was rim-mounted to a wide-margined card for the display albums created by the Treasury for the world-famous Alexandre Vattemare (see our Mike Coltrane Part 1 sale: 25036 lot description for a detailed biography of Vattemare and the U. S. government presentations). Vattemare forged the connections to obtain these specimens on his early visits to the United States. This example is unique and was unknown until 1981 when auctions were prepared at Robson-Lowe (Christie's philatelic arm at the time) of the newly discovered Vattemare albums. This specimen was originally sold in the second, September 17, 1982, Part Two Vattemare sale and realized $3,300 as lot 1518, one of the highest prices in that section. In 1985, this example reportedly traded hands privately until reappearing in our 2002 FUN auction.

    The four denominations from this series are among the most intricately designed Federal notes. Printed on two sides by the National Bank Note Company with their imprint at the lower right. Enveloped within the reddish-orange cycloidal swirls created using the Cyrus Durand's patents are three vignettes. At center, their version of Justice elegantly points at the balanced scales and is seated upon a throne. Andrew Jackson is at the lower left (ironically this portrait appears on the $1,000 Confederate States of America note also engraved by NBN) and Salmon P. Chase is at the right (this image appears on Marine Bank, Toledo, Ohio notes). Titles and obligations are across with the curving TWO YEARS AFTER DATE bisected by the enactment date. Upper corners have identical "50" dies surrounded by micro-dies of intricate ovals. The back is blue, a rarely used color from the NBN catalog. It is perpendicular to the face and has a central rectangular cartouche to "Pay to Bearer," making these fully endorsable in circulation. At the left and right (top and bottom) are different dies surrounded by scalloped micro-dies.

    A plate position A specimen note, exceptionally well printed, with two medium punch-hole cancels through the signature blocks. They disturb none of the marvelous engraving or tinting details. Serial number "2551" is penned in both side blanks. Any handling within the rim-mounting is light. This is essentially as printed, and the colors on both sides are stunning. It is Hessler's U. S. Loans volume plate note. Strong auction records have justifiably followed this special Federal $50 Interest Bearing specimen. Ex: Stack's Bowers, March 2018 sale, lot 1025 (realized $43,200); Joel Anderson Collection; our 2005 Jim O'Neal Sale, lot 16686 (realized 25,300); our 2002 FUN sale, lot 2478; Private Collection; Robson-Lowe's (Christie's) Sale of the Alexandre Vattemare Albums Part Two, lot 1518 (realized $3,300). This stunning note has an illustrious pedigree and will be the centerpiece of any elite United States currency collection.
    From The Mike Coltrane Collection.




    Auction Info

    Auction Dates
    June, 2021
    24th-25th Thursday-Friday
    Bids + Registered Phone Bidders: 28
    Lot Tracking Activity: N/A
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