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    Description

    Second Extremely Rare Act of February 24, 1815 $50 Proof
    One of Three Impressions Known

    United States - Act of February 24, 1815 $50 Treasury Note. Hessler X83E, Fr. TN-11p. Proof. PMG Choice Uncirculated 64 EPQ.
    A second highest-denomination "7% Funded Stock" convertible small note and another stunning proof impression. Like the previous, it is one of three examples that originated from the partial sheet sold as lot 2208 in Smythe's 2000 Memphis sale for $23,100. This is nearly Gem and a final opportunity to obtain the extremely rare proof type from the Coltrane Collection.

    Like the previous, an India paper proof on original card, engraved and printed by Murray, Draper, Fairman & Co. As with all War of 1812 proofs, small punch-hole cancels in the three signature areas are as prepared at the printer. Size and style are similar to previous $5, $10, and $20 notes. At the upper right, a spread-winged eagle with an olive branch and three arrows in its talons (right and left, respectively) bisects UNITED STATES. Within the sunburst rays above the eagle, FIFTY is arcing. There is an ornate, oval "50" die at upper left, and intricate pattern engraving is on all sides. End panels contain the textual denominations, in white on black at the left and black on white in the right cartouche. It has the engraved March 25, 1815, date. The obligation across the center states, "The United States promise to receive this Note for fifty dollars in all payments to them; or to fund the amount at seven per cent. interest ... " It does not have the "in payment of duties taxes & public lands" clause or the ribbon with the motto E PLURIBUS UNUM. Engraved lines designate signature positions: at lower left for the "Register of the Treasury" and at lower right for the two "In behalf of the United States" signers. A short line is at the top for the serial number, but there is no payee or payable location line as used on prior acts.

    This is the plate position B example, also from the center of the original proof sheet, and has wide side margins as made. Very boldly printed, but as on the previous there are a few scattered inking weaknesses observed with scrutiny. The India paper is nearly perfect and contrasts with the dark ink beautifully. Once lightly rim mounted from behind the card, there are traces on the back sides that do not affect the face. Also as on the previous, there is "ghosting" of a proof from a different series due to stacking. A gorgeous proof that stands ably with the two slightly higher graded $50 notes. Style, condition, and rarity join together here to create an exceptional example for the finest collection.
    From The Mike Coltrane Collection.




    Auction Info

    Auction Dates
    June, 2021
    24th-25th Thursday-Friday
    Bids + Registered Phone Bidders: 18
    Lot Tracking Activity: N/A
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