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Philadelphia, PA - Philadelphia Bank $10,000 18__ Unlisted Proof PMG Choice Uncirculated 64.. ...
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Unique Philadelphia Bank $10,000 Proof - Ex: Schingoethe
Important and Highest Denomination Demand Note from this Historic Title
Philadelphia, PA - Philadelphia Bank $10,000 18__ Unlisted
Proof PMG Choice Uncirculated 64.It is far from a stretch that this is one of the most important Pennsylvania Obsolete Banknotes. It was printed for one of the earliest American bank titles which issued many series of notes from 1803 to becoming a National Bank in 1864. All genuine notes from the bank were fully redeemable for decades after 1864. This proof stands up with the 1782 Bank of North America $100 issued note, originally from the Wayte Raymond Estate (that sold for $37,375 at Ford Part VIII in 2005), and the two known Bank of North America $1000 color proofs (one with a five-figure realizations on their resume and the other locked in a foundation). This amazing note boasts an illustrious pedigree prior to its fine home in the Pease Collection since June 2005. It originally came from the (unnamed) Rasmussen collection sold by Bowers & Merena at Baltimore over two decades ago. Those Rasmussen proofs often originally came directly from Julian Blanchard. It is unique, once part of an unlisted two-subject $5,000-$10,000 sheet, and made its way quickly to the Schingoethe collection by private treaty where it remained until sold in the third (of 18 numbered) sales at the 2005 Memphis auction for $20,700. The size of this $10,000 is slightly oversized compared to lesser, circulating demand notes from the period. Clearly, such a note was used for bank to bank transactions only to facilitate counting time and storage. The size differential would make a counting error difficult if mixed with other notes. Great expense was made to engrave this mega-denomination plate to print this at Draper, Toppan, Longacre & Co. Classical scene at the top center. Intricate end panels with three vignettes each. It is also interesting to note the rarely seen comma used in the denomination "$10,000." In this 1830s time period, only one other Philadelphia title proposed $10,000 notes-the Girard Bank. These are known, but are dwarfed by the uniqueness and beauty of this classic. Philadelphia has been well collected over the past decade. As the highest denomination from one of America's historic bank titles, it will be a cornerstone in its next superb collection. This has all the hallmarks of exceeding the starting bid handily.
From the Charles R. Pease, Jr. Collection
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