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    The Purchase of Manhattan Island, 1626 on a New Orleans Proof

    New Orleans, LA - Southern Bank $10 18__LA-140 G4a. Face Proof. PCGS Choice About New 58PPQ.
    The American historical vignettes used on Obsoletes are an interesting area of study (Roger H. Durand's Interesting Notes about History describes them chronologically and with their specific note usages). Several were engraved by Rawdon, Wright, Hatch & Edson in New York. This is a nearly pristine India paper proof sunk to its original cardstock. The upper right vignette is titled The Purchase of Manhattan Island, 1626 and is very finely detailed with Peter Minuit presenting trading goods (worth 60 guilders at the time) to the local Indian leaders; all parties are finely garbed. At the lower left is a standing sailor holding a sextant and at the right is a beautiful woman's portrait. This late series also used a Louisiana Auditor's seal at the upper left and a space for that signature when issued. Those issued notes used a color back, making this technically a face proof only. The historical vignette used may have been commissioned for the Huguenot Bank of New Paltz, New York and is used by them for their $1 notes. However, a few other banks used this vignette. New Orleans locals might not have understood the scene in its historical context and may have seen these four colonists as local Mississippi River area merchants "treating with Indians," as quoted from period Banknote Reporters. This example is noted by PCGS as being "Slit Cancelled" and specifies "Mounted on Cardstock." Just the faintest handling is observed on this very broadly-margined note with the look of a Gem.

    Ex: Eric P. Newman Numismatic Education Society.

    View all of [Selections From The Eric. P. Newman Collection, Part VI a. ]

    Auction Info

    Auction Dates
    April, 2015
    22nd-28th Wednesday-Tuesday
    Bids + Registered Phone Bidders: 7
    Lot Tracking Activity: N/A
    Page Views: 270

    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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