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    Important State Bank of Minnesota, Austin $1 Proof

    Austin, MN - State Bank of Minnesota (1st) $1 October 5, 1858 MN-10 G2, Hewitt B040-D1a. Proof. PCGS Very Choice New 64.
    The Newman Part VI sale contained an unrivaled offering of 52 Minnesota obsolete proofs that were cut from sheets. Many were plated in the Shawn Hewitt Minnesota Obsolete note reference, and unique examples abounded. This is a rare bank title and the initial, rarer location of two (Minneapolis was the successor, 2nd title). The plate was initially engraved for this Austin location by the American Bank Note Company using a $1-$2-$5-$5 denomination structure. That plate's configuration and vignettes were maintained and re-engraved with the Minneapolis location for their 1862 State Auditor authorized notes (Hewitt-B360 series). This $1 denomination and the following $5 proof are important examples printed on India paper and mounted on original cardstock. At top center, a farm boy pats a black horse while its white companion looks toward the train passing in the distance. Numerical counters are in the top corners. At lower left, UNION, in an elaborately draped dress, leans on a pillar and gestures to her name on the column above. At lower right, a workman with a pickaxe and shovel takes a break to smoke his pipe while another guides a wheelbarrow along a plank pathway. The counter on the right shows an intricate swirl of micro-lettering. One of only two proofs listed on the Hewitt census and the first to be offered at public auction. The $2 proof from this Austin series realized $4,700 in the Newman Part Sale in April 2015. Noted as "Hole Punch Cancelled, Mounted on Cardstock" and the Hewitt plate note. This is an important and impressive rarity.
    Ex: Eric P. Newman Numismatic Education Society

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    Auction Info

    Auction Dates
    October, 2015
    21st-24th Wednesday-Saturday
    Bids + Registered Phone Bidders: 7
    Lot Tracking Activity: N/A
    Page Views: 297

    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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