Description

    Choice Grade Thorne's Bank $1 Note

    Hastings, MN - Thorne's Bank $1 Sept. 1, 1863 MN-45 G2A, Hewitt B180-D1. PCGS Very Fine 20.
    The Thorne's Bank is a private banker title, most often seen on New York State notes. In this case, it was named for James L. Thorne, the bank president, signed by him at lower right and, to add to it all, shows his custom engraved portrait. The note is beautifully engraved and printed by the American Bank Note Co., N.Y. Above the title, a winged cherub is rolling an 1863 Seated Liberty silver dollar. A panoramic view of the town, railroad, river and grazing field is behind. In an oval frame at lower left, a girl cuddles puppies. At the lower left, Thorne's portrait. The green security back mimics the initial Federal Legal Tender notes with three large darker shaded dies. The center has the obligation "Secured by the Pledge of Public Stocks of the United States," which indicates this bank's soundness. James L. Thorne emigrated from England at age 20, settling first in Batavia, New York, then moving to Hastings in 1856. In addition to operating this bank, he also served as mayor. There were only $622 in notes left unredeemed in 1869, and the bank was succeeded by the Merchants National Bank of Hastings (charter #1538). The type is not rare now since a group of hole cancelled notes appeared some years back, but most are low grade. This is an outstanding example, with wide margins and vibrant back color. One of the finest known.
    Ex: Eric P. Newman Numismatic Education Society


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    Auction Dates
    October, 2015
    21st-24th Wednesday-Saturday
    Bids + Registered Phone Bidders: 12
    Lot Tracking Activity: N/A
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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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