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    Description

    Five State Clarks' Banking Houses Issued Note-Payable in Burlington, Iowa

    Burlington, IA- To E.W. Clark, Brothers & Co., Burlington, Iowa from E. W. Clark & Co. Philadelphia $3 July 1, 1850 UNL Oakes 13 PMG Fine 12.
    An amazing Iowa obsolete note discovery with this series offered at auction as an issued note for the first time we believe. Notes printed and issued by this historic (Jay Cooke was a partner) banking concern from Philadelphia are complex. In addition to its home office in Philadelphia, the bank had branches in Boston, New York, St. Louis, and in this case an additional office in Burlington, Iowa. As such, its broad appeal includes the collectors from Iowa and Missouri. The issuer was not in the Newman Collection sales sold by us. The only auction offering with this Wellstood imprint and obligation style we researched was a $1 Proof sold in the NASCA 1981 Vacca sale. That was payable at St. Louis. An exceedingly rare note in any form, proof or especially as a fully issued example like this. It has a penned endorsement and a perpendicular "Pay the Bearer" rubber stamping on the back. The 2016 Oakes revision depicts only an uncut $1-$2-$3-$5 sheet and no Oakes numbers for each denomination. The $3 on the sheet shares the same design with the example in this lot. The multi-state appeal, excellent grade, and its immense rarity should certainly merit a solid four-figure price. Rare Iowa notes have been in great demand in the past several years and this is one of the most fascinating cataloged by us.


    Auction Info

    Auction Dates
    April, 2019
    24th-29th Wednesday-Monday
    Bids + Registered Phone Bidders: 8
    Lot Tracking Activity: N/A
    Page Views: 198

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