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    Extremely Rare Second Bank of Milwaukee $2 Proof

    Milwaukee, WI - Bank of Milwaukee (2nd) $2 Jan. 2, 1855 WI-500 G4. Proof. Very Choice New 64.
    The first Bank of Milwaukee was from the Territorial period. The bank did not officially emit notes due to conflicts among internal officers, but it did prepare proofs and remainders from different series. The second Bank of Milwaukee, from the 1850s, issued notes from several sub-series of increasing capitalizations (from $50,000 to $300,000) and shortly thereafter became the National Exchange Bank of Milwaukee (Charter #1003, which issued Original Series to Small Size notes). Issued notes from the second bank are exceedingly rare and proofs are extremely rare. This Choice example is unique in private hands in this format. Engraved and printed by Toppan, Carpenter & Co., New York & Phila., from a $1-$1-$2-$5 sheet configuration, on India paper mounted on cardstock. This $2 is from an important series featuring the Santa Claus Type IV type on the $5 denomination that we sold in the Newman Part VI sale for $30,550 (graded PCGS Gem New 66PPQ). At top center, three allegorical females float on the clouds. Plenty, with her cornucopia is at left; Commerce, leaning an elbow on each of the other figures and holding a caduceus, is in the middle; and Justice, with her sword and scales, is at right. A scene with ships sailing in the distance is beside her in the background. The tall vignette at left shows a hunter in the forest with his faithful dog. This is from the first capitalization of $50,000, which is engraved on the plate. This is the same rarity as the "Santa Claus" proof from the series, but obviously without that immensely important vignette. The first $1 proof from this Newman Collection sheet saw splendid competition in the Newman Part VI sale, realizing $3,995 (also a PCGS Gem New 66PPQ). Noted as "Hole Punch Cancelled" and "Mounted on Cardstock" as made. There are two faint foxing patches, hard to see at first. Otherwise, this has a Superb Gem appearance a presents and unique opportunity.
    Ex: Eric P. Newman Numismatic Education Society

    Auction Info

    Auction Dates
    October, 2015
    21st-24th Wednesday-Saturday
    Bids + Registered Phone Bidders: 10
    Lot Tracking Activity: N/A
    Page Views: 158

    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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