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    Exceedingly Rare and Highest Denomination $1,000 "War of 1812" Treasury Note
    One of Three Known - Ex: O'Neal and Blanchard Collections

    United States - Act of June 30, 1812 $1000 5-2/5% Treasury Note. Hessler X69B Unlisted, Fr. TN-1. Unsigned Remainder. PMG About Uncirculated 50 EPQ.
    A second key type from this important initial enactment and among the rarest types in the entire series. This is the highest denomination authorized from the four enactments issuing treasury notes. Exceedingly rare, one of three known, and the final of two examples from the Coltrane Collection. It is in choice condition and graded conservatively in our opinion. Mike purchased this note privately and it has a Jim O'Neal and 1955 Julian Blanchard pedigree.

    Like its companion $100 note, printed for the Federal government by Murray, Draper, Fairman & Co. in Philadelphia. This is a uniface large format note (bigger than the $100 notes), similar in size to period drafts. It was printed on bond paper with red and blue silk fibers from an engraved copper plate (possibly as a single-subject A position). All three notes known are plate A; however, observe there are vertical registration lines and a horizontal frame line underneath the finished note with a gutter space separation. This is similar to the Mike Coltrane Collection Part 1, lot 25015 example. The general layout and design is similar to the $100 notes. At the upper left an eagle flies with wings widely spread; its right talon holds an olive branch intertwined with greenery, and its right talon holds three arrows. At bottom center, an upright American shield is amid flags and weaponry. Intricate side bordering, in a style similar to the Second Bank of the United States notes, shows the denomination - numerical at left, and textual at right. In the center are the required obligations. Engraved lines designate spaces for the following: in the upper half, the serial number, year, date (in two forms), payee, and payment location; at the bottom, the signatures, one at left for the "Com'r of Loans" and two at right for "in behalf of the U. States" signers. The upper left corner displays the " ... duties taxes & public lands" clause. At lower left, the interest payable per day, month, and year is listed. This plate position A note has wide margins on four sides and original deckled edges at top and left. The Friedberg catalog reports 2,000 $1,000 notes printed, but no issued pieces survive today.

    Beautifully printed, with sharp details and significant paper fibers visible. The note is clearly identified from the blank back where a small press-bed smear of border lathe work is seen from a note that was once stacked underneath it. This looks Gem at first glance; its handling is very light. Ex: 2004 Ford Part VI: 378 via Julian Blanchard, September 19, 1955, and subsequently our May 2005 Jim O'Neal Sale, lot 16622. There are two other examples known. Mike's other note, the finest known PMG Choice Uncirculated 63 EPQ example, realized $30,000 in the first sale. The other piece is the Joel Anderson sale PCGS Extremely Fine 40 (Ex: our 2005 Taylor Collection: 16719) note. The cited auction records indicate that sometimes a decade or more will pass before one of these three known notes appears again.

    This highest denomination has eluded several major War of 1812 Treasury Note collectors. Stack's 2004 Boyd-Blanchard holdings sale increased the availability and visibility of these historic June 30, 1812, rarities, encouraging interest among several new collectors. At that sale this $1,000 June 30, 1812, War of 1812 note was recognized as a key piece in the Federal currency canon. These notes are conservatively valued compared to the later Federal $1,000 rarities such as the "Grand Watermelon." A significant, final opportunity to obtain this key type from the Coltrane 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
    Page Views: 551

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