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San Francisco, CA - Imperial Government of Norton I 50 Cents "Payable in 1880 or Convertible in 5% Bonds" July 10, 1878. PCGS ...
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Description
Rare and Impressive Emperor Norton I 1880 5% Convertible Note
San Francisco, CA - Imperial Government of Norton I 50 Cents
"Payable in 1880 or Convertible in 5% Bonds" July 10, 1878. PCGS
Extremely Fine 40 Apparent.A very choice example of an entirely different Norton I series note. This was payable in 1880, but also convertible into 5% bonds. The size, paper, and printing vary significantly. Uniface, lithographed in all black on bond paper. Without imprint under the frame line, likely the work of Charles A. Murdock and Co. because of the Norton's falling out with his previous printer ("Notes on His Majesty's Printers" by John Lumea, and the E-Sylum, vol. 20). Larger and wider format than the last. 24.3 cm x 11.3 cm. At center left is the half-length Norton I portrait in uniform; similar to the Type 2 fifty cent note. At center right, the California State seal is under a wavy UNITED STATES. The arced title, "The Imperial Government of," is at top center with a straight drop-shadowed NORTON I at top center. The obligation below states the note would be due in 1880, with conversion to 5% interest bonds. It could be extended by the holder for 20 years at 7% interest. In addition, these were "payable in Gold Coin." Marckhoff Type 5. No. 2682. Hand-dated July 10, 1878. Signed at the lower right by Norton I, Emperor. Not stamped with the crude black "seal" on the face like the previous. Noted with "Minor Mounting Remnants on Back" by PCGS. From the face, an extraordinary appearance which is lightly quarter-folded. Superior to the Ford Part XX: lot 3037 example which realized $34,500 in October 2007. A rare and impressive Emperor Norton I note. These are seldom encountered in such high quality.
Ex: Eric P. Newman Numismatic Education Society
Auction Info
2018 November 7 - 10 Eric P. Newman Collection Part X Currency Signature Auction - Dallas #3568 (go to Auction Home page)
Auction Dates
November, 2018
7th-10th
Wednesday-Saturday
Bids + Registered Phone Bidders: 13
Lot Tracking Activity: N/A
Page Views: 1,676
Buyer's Premium per Lot:
20% of the successful bid (minimum $19) per lot.
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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.
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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