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    Description

    Rare February 24, 1815 $50 Triple-Signature "Cancellation" Type
    One of the Finest Known-Ex: Newman Collection

    United States - Act of February 24, 1815 $50 Treasury Note. Hessler X83E, Fr. TN-11b. Triple-Signature Hole-Cancelled. PMG Choice Extremely Fine 45 EPQ.
    An intriguing War of 1812 $50 Treasury Note type that was fully signed and issued, but later cancelled across the center with a 25mm hole-cancel. Presumably, the majority of these "cancellation" notes were burned by the Treasury after redemption or non-use. Signed by F.W. McGeary and C.C. Biddle at the right side "In behalf ... " and to fully issue the note, at the left by Joseph Nourse as "Register of the Treasury." The census currently lists 11 examples, all circulated before their cancellations were applied; there are no Uncirculated notes known of this $50 "cancellation" type.

    Like the $50 proofs, engraved and printed by Murray, Draper, Fairman & Co. in Philadelphia. It is uniface on blue and red fiber UNITED STATES watermarked bond paper in a size and style similar to the $5, $10, and $20 notes. It has the same design as the finished proofs and signed remainder notes: a spread-winged eagle at the upper right with sunburst rays and FIFTY above; intricate bordering on all sides with text denomination at the sides; the engraved March 25, 1815, date; obligations across the center; three signature lines, the left for the issuing Register of the Treasury; and a serial number short line at the upper left.

    This plate position A note has three signatures, but is hole-cancelled. No.11.543, and nearly all the confirmed examples are close to this serial number. A beautiful example and one of the finest $50 cancellation notes known. The paper quality is fresh and original with visible color fibers. Well margined, although the top is bowed inward somewhat. Ex: our Newman Part VI sale, lot 19590 (realized $12,925); Eric P. Newman Education Society. Only two uncancelled triple-signature notes are known, making this $50 cancellation note a key illustrative type. This example is in splendid condition and boasts a prominent pedigree.
    From The Mike Coltrane Collection.




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    Auction Dates
    June, 2021
    24th-25th Thursday-Friday
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