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    Description

    Exceedingly Rare State Issue Montana First Charter $20-One of Four Known

    Butte, MT - $20 1875 Fr. 437 The First NB Ch. # 2566 PCGS Very Fine 25 Apparent.
    A surprising new discovery from the Eric P. Newman Collection. Montana First Charter examples are hardly plentiful, with the census of 21 pieces nearly evenly divided between Territorial (10) and state issue notes (11). This specimen raises the state issue total to an even dozen, of which a mere four are $20 notes. Of the three previously listed in the census, two are quite low grade. The sole other example recorded from this Montana bank has no previous auction record, indicating that it has been off the market for a very substantial length of time. This note bears the plate date of November 8, 1889, the date of Montana's entry into the Union. Because of the change from Territorial to state issued notes, the plates were re-engraved, and the names of the serving Treasury officials in November 1889, William S. Rosecrans and J.N. Huston, were placed on the new plate. Since any bank newly chartered or rechartered in 1889 would have issued Series 1882 Brown Backs, only banks that had changed their title or their Territorial designation and that were chartered prior to 1882 would have issued First Charter notes with this signature combination. As only a handful of banks fell into this category, a signature combination rarity ensued, with the current edition of the Friedberg catalogue indicating that the surviving population of this Friedberg number is just five from all banks in the U.S. combined. There are a few stains and a very small area of minor discoloration on the reverse, but if rarity and desirability produce their normal effects, expect strong competition for this note.

    Ex: Eric P. Newman Numismatic Education Society.


    View all of [Selections From The Eric. P. Newman Collection, Part VI a. ]

    Auction Info

    Auction Dates
    April, 2015
    22nd-28th Wednesday-Tuesday
    Bids + Registered Phone Bidders: 26
    Lot Tracking Activity: N/A
    Page Views: 552

    Buyer's Premium per Lot:
    17.5% of the successful bid (minimum $14) per lot.

    Truth Seeker: The Life of Eric P. Newman (softcover)
    A powerful and intimidating dealer of the 1960s, backed by important colleagues, was accused of selling fraudulent gold coins and ingots to unsuspecting numismatists. Who would go up against a man like that and, over the course of decades, prove the fraud? Who would expose a widely respected scholar as a thief, then doggedly pursue recovery of coins that the scholar had stolen from an embarrassed numismatic organization, all over the objections of influential collectors who had bought coins with clouded titles? Eric P. Newman would - and did. Reserve your copy today.
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