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    Description

    New Ulm $1 Santa Claus Note

    New Ulm, MN- Central Bank $1 18__ as G2a Hewitt B380-D1b Proof PCGS Very Choice New 64PPQ.
    The Central Bank was short-lived, like virtually all of Minnesota's state banks. The organization papers were filed in 1859 by Mr. North and Mr. Steele, but the bank was quickly purchased by J. (John) Jay Knox from St. Paul. Knox later became Comptroller of the United States Currency and wrote an important history about late nineteenth century banking. The issued notes would eventually be protested for redemption in 1862 and were ultimately redeemed at the Auditor's office, for only 30 cents on the dollar, with $863 recorded as remaining unredeemed by 1878. This Central Bank, New Ulm proof will be highly sought after by Minnesota collectors and those with a strong interest in Santa Claus vignetted notes. The Central Bank $1 is the only Minnesota Santa Claus vignetted type. Prominently at center it features the Durand Type III style "Saint Nick" attributed to George Baldwin (as plated and classified in Roger H. Durand's Interesting Notes about Christmas). This stunning proof superbly and elegantly crafted by the ABNCo is printed on India paper and die sunk to its original cardstock. The $1-$2-$5-$10 plate was authorized to be engraved by Wellstood, Hay & Whiting (WHW), but the final plate bears the ABN imprint across the bottom. The plate used by the bank is an interesting hybrid, created primarily from WHW vignettes and dies. Unlike the other denominations on the plate, this unique $1 Santa Claus vignette was engraved using the Baldwin, Adams & Co. die, which would have been available to the ABNCo conglomerate after the 1858 consolidation of the seven firms. The center shows the major vignette as discussed, Baldwin's jovial Santa Claus grandly seated in his sleigh with reindeer guiding him over the rooftop. At the lower left is a Peter Stuyvesant portrait, but this portrait was engraved for Rawdon, Wright, Hatch & Edson, New-York. It was used primarily on New York City notes, especially the St. Nicholas Bank notes and proofs with Santa Claus vignettes. At the far right is a tall and intricate "1" numeral. Across the bottom is a red protector ONE in the style used on the issued notes. This is the Hewitt plate note and also the Durand Christmas book plate note (his MN-6 listing), and it is the only Proof known and reported. This type is missing from virtually every Santa Claus vignette collection to our knowledge. There are two issued notes of the type recorded in the census and one is plated in Haxby. However, both are damaged notes that perhaps barely Net Good in state of preservation. (Roger H. Durand noted them as "severely damaged" in his privately published collection treatise and census.) One of those examples was the note sold in the Schingoethe auctions. This unique and Very Choice Proof, with as-made POCs mounted on cardstock, boldly displays its grand merits. This is another exceptional highlight and the key type for the most elite Santa Claus vignetted Obsolete note cabinet.
    From the Charles R. Pease, Jr. Collection, Part II




    View all of [The Charles R. Pease, Jr. Collection, Part II ]

    Auction Info

    Auction Dates
    April, 2020
    22nd-27th Wednesday-Monday
    Bids + Registered Phone Bidders: 3
    Lot Tracking Activity: N/A
    Page Views: 523

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