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    Description

    Sole Reported Bank of Chatfield $5 Proof

    Chatfield, MN - Bank of Chatfield $5 18__ MN-20 UNL, Hewitt B080-D5a. Proof. PCGS Very Choice New 64.
    The Bank of Chatfield is a very scarce bank, but of the seventeen notes confirmed in the 2006 census, five were issued notes and eight were remainders with red protectors. There were only four proofs known and they are the examples surveyed in the Newman collection in 2004. The bank ordered a plate with four denominations, $1-$2-$3-$5, but they had the American Bank Note Company print them in a staggered fashion (that is, some with all four denominations, then $1-$2-$3, and finally just $1-$2) in order to add up to their authorization of $49,000 in notes. This India paper proof is beautifully designed. There is no protector plate used, unlike the issued notes and remainders observed. Rural life is depicted as tranquil and idyllic on this note. The well-dressed young lady left of center holds a flower and looks serenely at the viewer. Roosters, hens and chicks are at lower left. At lower right, sheep and cows wander and rest by the water; a church and steeple are in the background. Numerical counters are in the top corners. At left, micro-numerals surround a lathe work background. At right, stylized flowers frame the numeral. This is noted as "Hole Punch Cancelled," as made. The Bank of Chatfield proofs from this sheet offered in the Newman Part VI sale were actively pursued. The $1 proof realized $6,463, the $2 proof brought $7,638, and the $3 position $8,225. This is the Hewitt plate note and is reported as unique; it is the only $5 proof from the bank of any variant. We would certainly expect equal enthusiasm for this note, the only reported proof and the final denomination remaining from the series.
    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: 232

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    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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