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    Description

    Extraordinary Signed & Issued 1863 Boston $500

    Boston, MA- The Merchants Bank $500 July 1, 1863 G60a
    A fantastic item which is one of the highlights of Tom Denly's Boston holdings. While one Proof example with large pieces missing is illustrated in Haxby, this is a signed and issued example. It is a superb late issue green, black and white American Bank Note Company product, and represents the pinnacle of engraving prowess on obsolete currency, as well as the enormous purchasing power of $500 in the Boston of 1863. It likely survived as a simple happenstance of its redemption by the Merchants National Bank in 1896, and is marked with both the bank stamps as well as the handwritten notation "Redeemed in full June 4 '96/Paid" in red ink on the reverse. Obsolete notes such as this are in their infancy as true collectibles, with values lagging their National Bank Note counterparts by a factor of ten, twenty and even one hundred for items of comparable rarity. Whatever this realizes here, we can predict with some confidence that the amount will look awfully inexpensive in future years. Very Fine-Extremely Fine.


    View all of [The Tom Denly Collection of Boston Obsolete Currency and Scrip ]

    Auction Info

    Auction Dates
    May, 2003
    1st-3rd Thursday-Saturday
    Bids + Registered Phone Bidders: 7
    Lot Tracking Activity: N/A
    Page Views: 292

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