Skip to main content
Go to accessibility notice

    Description

    Dynamically Vignetted Exchange Bank, Sale $2 Issued Note

    Salem, MA - Exchange Bank $2 Aug. 11, 1858 MA-1105 G16 SENC. PCGS Very Fine 35 Apparent.
    Genuine notes from Salem's Exchange Bank are exceedingly rare and are all designated SENC in Haxby. This is another very impressively designed and unusual rarity from Massachusetts. The face of the note has the dual imprints of the New England Bank Note Company and Patent Stereotype Steel Plate. The note's dynamic design is complex and worthy of close study. Seated in the harbor, on a throne, is facing Athena. The shoreline is to her left and right, and the open ocean behind. At the left is standing Athena as America, and at the right is a standing female representing Navigation and Plenty. The corners have various counters, and flanking the center are partially outlined, but large, "2" protectors. The layout and protectors would have made it impossible to raise the denomination. A red protector TWO is at the bottom. A lightly penned notation shows that the note was "cancelled." It is interesting that a four-note lower denomination set (including a similar $2 note) exists of this distinctive and exceedingly rare series. All are illustrated in the Whitman Encyclopedia: Volume 4 with images contributed by the Peabody Essex Museum in Salem. This is museum caliber as well, and the $3 note from this series sold in the Newman Part VI sale in April 2015 for $3,290 (PCGS Very Fine 20). Noted as "Pen Cancelled" and with "Mounting Remnants on Back." This is a very crisp, vibrant note and superior in many respects to the $3 note from the Newman VI sale.
    Ex: Eric P. Newman Numismatic Education Society


    Auction Info

    Auction Dates
    October, 2015
    21st-24th Wednesday-Saturday
    Bids + Registered Phone Bidders: 14
    Lot Tracking Activity: N/A
    Page Views: 191

    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.
    Sold for: Sign-in or Join (free & quick)

    Heritage membership

    Join Now - It's Free

    VIEW BENEFITS
    1. Past Auction Values (prices, photos, full descriptions, etc.)
    2. Bid online
    3. Free Collector newsletter
    4. Want List with instant e-mail notifications
    5. Reduced auction commissions when you resell your
      winnings 
    Consign now
    • Cash Advances
    • More Bidders
    • Trusted Experts
    • Over 200,000 Satisfied Consignors Since 1976
    Consign to the 2019 December 4 - 6 HKINF World Currency Signature Auction - Hong Kong.

    Learn about consigning with us

    Thank you for your quick response. I am a member of Heritage Auctions and I am happy to say that it is truly a great platform.
    Mohammed J.,
    Durban, KZ
    View More Testimonials

    HA.com receives more traffic than any other auction house website. (Source: Similarweb.com)

    Video tutorial

    Getting the most out of search

    Recent auctions

    2019 June 26-28 HKINF World Paper Money Signature Auction - Hong Kong
    2019 June 26-28 HKINF World Paper Money Signature Auction - Hong Kong
    REALIZED $2,686,315