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    Rare Nahant Bank $20 Congreve Bank Type

    Lynn, MA - Nahant Bank $20 Jan. 1, 1834 MA-790 G24 SENC. PCGS Very Fine 30.
    The Nahant Bank was another institution that utilized the distinctive Congreve Patent Plate color backs for many of its denominations. The bank lasted only three years, and a serious run drove it out of existence leaving $200,000 or so in notes worthless. The face is engraved with a more advanced, vignetted Patent Stereotype Steel Plate conceived from Jacob Perkins' patents. The note has titles and security devices across the center. At the far left end is perpendicular MASSACHUSETTS with adjacent small Plenty vignette. At the far right is the Massachusetts seal between two "20" counters. The Congreve color back is a fascinating pattern printed in two colors with its titles circular around a large central die. This is a much rarer type from the bank than the low grade, lesser denomination notes encountered. We wish to note there is small bank teller smudge at the far right face and a small stain at the back upper left edge, but this example has a bold color back and is well margined.

    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: 15
    Lot Tracking Activity: N/A
    Page Views: 351

    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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