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San Francisco, CA - The Imperial Government of Norton I 50¢ Aug. 26, 1879. ...
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Sold on Oct 17, 2012 for:
$8,812.50
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Description
Exceedingly Scarce 50¢ Variety of Emperor Norton Note
San Francisco, CA - The Imperial Government of Norton I 50¢ Aug. 26, 1879One of the notable characters in San Francisco history is "Emperor Norton of the United States." Joshua Abraham Norton was born in Algoa Bay, South Africa on February 4, 1819. In 1849, after receiving a $40,000 bequest from the estate of his father, he immigrated to San Francisco. His initial business efforts were quite successful and he was able to substantially grow his fortune. However, an investment in Peruvian rice caused him financial ruin and he was forced to declare bankruptcy. His mental state seriously declined at that point and he briefly left San Francisco. He would later return to the City by the Bay and at that point, he notified several newspapers on September 17, 1859 that he was declaring himself Emperor of the United States.
In his new self-appointed role, he issued several declarations about various matters. Some considered him a visionary, because among his decrees were several with merit, including the formation of a League of Nations and building a suspension bridge between San Francisco and Oakland. He dressed in military uniform and wandered the streets. Norton was well liked by many who considered him eccentric and he was often given free meals and received invitations to the theater. His occupation is listed in the 1870 United States Census as "Emperor." The city of San Francisco even purchased a new uniform for him after his became worn.
In the 1870s, Norton began issuing promissory notes that he referred to as "Imperial Treasury Bond Certificates." The denominations ranged from 50¢ to $100 and he sold them to citizens and tourists. The latter collected them as souvenirs of San Francisco. He was an important celebrity of his day. Many merchants sold Emperor Norton merchandise ranging from postcards to dolls. Emperor Norton's notes remain quite popular with the current generation of collectors as they weigh in at the number 100 spot on the list of the 100 Greatest American Currency Notes. It has been estimated that only two or three dozen pieces have survived. The March 1933 issue of The Numismatist included an article about the Emperor and his notes.
Norton collapsed and died on January 8, 1880. His funeral was a huge affair, with at least 10,000 mourners reported, although some accounts list as many as 30,000. Over 130 years later, he is still well remembered, at least partially due to his influence on popular culture. Several characters in novels were based on him, including works by Mark Twain and Robert Louis Stevenson. The centennial of his death was recognized in 1980.
Tonight's offering of serial number 2966 retains nice eye appeal despite a few imperfections that garnered it an apparent grade. Ink erosion is observed at the signature and edge damage and splits were also mentioned by PCGS. The vignette of Norton is seen at left on this note and the California state seal is observed at right. This variety does not include a printer's imprint and has an estimated surviving population of a mere six to ten pieces. We sold a 50¢ with imprint example PCGS VF 30 at our FUN auction in January 2012 which brought $12,650. The current offering is also a rare and desirable note that will certainly challenge that previous winning bid. PCGS Apparent Very Fine 30.
Auction Info
2012 October 17-23 ANA Currency Signature Auction- Dallas #3520 (go to Auction Home page)
Auction Dates
October, 2012
17th-23rd
Wednesday-Tuesday
Bids + Registered Phone Bidders: 3
Lot Tracking Activity: N/A
Page Views: 3,176
Buyer's Premium per Lot:
17.5% of the successful bid per lot.
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