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    Description

    Exceedingly Rare and Well-Pedigreed Act of March 4, 1814 $100 Note
    One of Three Known - Friedberg Plate Note

    United States - Act of March 4, 1814 $100 5-2/5%Treasury Note. Hessler X74C, Fr. TN-6. Double-Signature Remainder. PMG Choice Extremely Fine 45.
    This is another exceedingly rare and important piece. It is one of the key types from the entire series: the $100 is the only denomination known from the act. There are no $20 or $1,000 notes confirmed, although they have Friedberg listings (TN-7 and TN-5 ). This is the finest of three complete notes extant (there is also a reported half-note) and boasts a significant pedigree chain. It has resided in the Mike Coltrane, Joel Anderson, Jim O'Neal, John J. Ford, Jr., and F.C.C. Boyd cabinets across a period of 65 years. In Stack's October 2004 Ford Part VI sale, this piece realized $29,900 after furious competition. This is also the current 21st edition Friedberg plate note.

    Printed by Murray, Draper, Fairman & Co. in Philadelphia on behalf of the United States and similar to the June 30, 1812, $100 notes. This uniface large format note, comparable in size to period drafts is plate position C. Originally this was part of a two-subject (positions C-D) note. There is a position D June 30, 1812, note known and plated in the Krause-Lemke catalog. It was printed from an engraved copper plate on bond paper with red and blue silk fibers. At the upper right, an eagle flies with upraised wings; it holds an olive branch intertwined with greenery (right talon) and three arrows (left talon). At bottom center, an American shield stands upright amid flags and weaponry. Intricate side bordering displays texts. In the center are the required obligations. Engraved lines designate spaces for the following: in the top half, the serial number, date (in two forms), payee, and payment location; at the bottom, the signatures, one at the left for "Com'r of Loans" and two at right for "in behalf of U. States" signers. In the right border is an oval cartouche with "the duties taxes and Public lands" clause. At lower left is the interest payable per day, month, and year. The Friedberg catalog reports approximately 24,000 $100 notes were issued, but no fully issued pieces survive today.

    This intriguing example is nearly fully prepared, with a payee, but not issued. Samuel Clarke and Edward Fox signatures "in behalf" appear at the lower right. Serial numbered 9418 and pen-dated Jan'y. 1., 1815 (over 4) at the top, with the year 1816 below for the one-year payable. Payable to "A S Bulloch N. Agt." At "Philad'a." Only the lower left "Comm'r of Loans" signature is missing for full issuance. The blank back is without endorsements. The other two complete March 4, 1814, $100 notes are prepared in the same manner; those are serials 9414 and 9417. There is also a reported half-note published in the census.

    A handsome example that is uniformly and softly toned as it was first cataloged in the Ford Part VI sale. PMG notes there is a "Minor Ink Burn" observed from the heavier penned ink in the issuance and observed more so on the back. There is a clipped lower right corner, but it is away from the frame lines. It is the only example graded by PMG. Mike had been searching for this essential enactment type for many years when it became available in Kagin's Joel Anderson offering in March 2019 (lot 3017); it realized $26,400. Another requisite for a definitive collection of War of 1812 Treasury Notes. The other two complete notes are recorded as plate notes in books and presumably tightly held. The offering of this illustriously pedigreed rarity presents collectors with an extremely important opportunity.
    From The Mike Coltrane Collection.




    Auction Info

    Auction Dates
    November, 2020
    4th-5th Wednesday-Thursday
    Bids + Registered Phone Bidders: 31
    Lot Tracking Activity: N/A
    Page Views: 437

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