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    Reportedly Unique Bank of Cape Cod $1 Issued Note - One of Only Four Notes Observed from the Title

    Harwich, MA - Bank of Cape Cod $1 Feb. 1, 1856 MA-660 G2 SENC. PCGS Fine 12 Apparent.
    The Bank of Cape Cod is an extremely rare Massachusetts title, an elite one in fact, and this is the sole $1 denomination among only four notes, three issued and one proof, observed by us from this dramatic series. An appropriate nautical vignette was engraved by Toppan, Carpenter & Co. At the top center, over the title, are three different vessels with two sailing ships in different perspectives at left, and at the right, a man-o-war with multiple gun decks. At the lower left is a male portrait and at the lower right, a female peering through a small telescope out to sea. The base or far bottom vignette is the codfish, an iconic Massachusetts symbol used as far back as Colonial times on currency notes. At the bottom center is a red protector ONE. This is the only $1 note from the bank we have ever encountered; therefore, the first time offered at auction. It is interesting to report that two $4 notes from the bank exist, using a large Declaration of Independence vignette at center. The higher grade note is privately held, but confirmed by us. It originally came from the Jim Sazama collection 15 years ago where it then traded privately for $2,000 (at the time a high price for any Northern Obsolete) at Memphis. The other $4 Bank of Cape Cod note is plated in the Whitman Encyclopedia: Volume 4, where Dave Bowers discusses in detail the significance and rarity of the bank and its issues. That example graded Good to Very Good, was ex: Paul Kagin via the 1990 Smythe Memphis Sale, and subsequently sold in the Schingoethe sales. The bank also has a known proof and it is one of the epic Massachusetts Obsoletes, a unique $5 proof with a central vignette of The Signing of the Mayflower Compact, 1620, known only on this note at this time. That strongly held proof is illustrated in several Roger Durand titles and plated in Haxby and Whitman. There are some noticeable flaws, but seen more so from the back, such as "Tape Repaired Edge and Internal Splits; Minor Rust Stains." However, the big picture needs to be considered: The discovery $1 denomination here is perhaps a once-in-a-lifetime chance to obtain a note from this elite title.

    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: 9
    Lot Tracking Activity: N/A
    Page Views: 229

    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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