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    Extremely Rare Burlington, Iowa $3 Note

    Burlington, IA - Merchant's Insurance Co. & Burlington Savings Bank $3 June 1, 1857 Oakes 15-3. PCGS Fine 15 Apparent.
    This is an extreme rarity, engraved and printed using a banknote style by Rawdon, Wright, Hatch, & Edson. This is another issuer that Jim Haxby, using his criteria, did not list as a bank, but could have justifiably included. The layout is sweeping and thoughtfully balanced. To the left of a large "3" counter at top center is Liberty with capped pole and shield with Stars and Stripes. To the right, an eagle. At bottom left, seated Commerce is on a wharf with clipper ships behind. A red protector THREE is at the bottom center. We have only one auction record of this issuer and denomination, a raw Very Good $3 note from the David Schneider Insurance Note Collection sold at the 2006 FUN sale for $575. Noted with an "Edge Tear at Bottom Right." Iowa notes are well collected and this was reflected in active bidding at the Newman Part VI sale in April 2015. The eye appeal is considerable, and superior to the Schneider collection note.
    Ex: Eric P. Newman Numismatic Education Society

    Auction Info

    Auction Dates
    October, 2015
    21st-24th Wednesday-Saturday
    Bids + Registered Phone Bidders: 14
    Lot Tracking Activity: N/A
    Page Views: 324

    Buyer's Premium per Lot:
    17.5% of the successful bid (minimum $14) per lot.

    Truth Seeker: The Life of Eric P. Newman (softcover)
    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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