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    Description

    Green Lyman's Protection Design Obsolete

    New York, NY- Merchants Bank in the City of New York $1 18__ as G130a Proof PCGS Very Choice New 64.
    The bank was originally organized in 1804 and began operating as a free bank in 1857. It continued in business until becoming the Merchants National Bank of the City of New York in 1865. This $1 design utilizes "Lyman's Protection," an approach which divides notes into two sections whose proportions depend on the denomination. In this way, it would be difficult to raise a $1 to a $5, for example, because the dividing line for the two sections would not be correctly located. The design features an oval male portrait at left along with the New York Bank Department die. A large green and white ONE protector appears at center and a large green 1 protector covers the signature spaces in the smaller section of the note. The note, once part of the Eric P. Newman Collection, is printed on India paper mounted on cardstock with the usual POCs in the signature lines. This is the only green Lyman's Protection design note of which we are aware. Excessively rare and historically important.
    From the Michael S. Tallent Collection


    View all of [The Michael S. Tallent Collection ]

    Auction Info

    Auction Dates
    October, 2021
    6th-8th Wednesday-Friday
    Bids + Registered Phone Bidders: 2
    Lot Tracking Activity: N/A
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