Description

    Choice Bank of Red Wing $1 Proof

    Red Wing, MN - Bank of Red Wing (1st) $1 18__ MN-105 G2a, Hewitt B500-D1b. Proof. PCGS Choice New 63.
    The Bank of Red Wing is an interesting institution using the same American Bank Note Company engraved $1-$2-$3-$5 plate, but to print two separate series of notes. The first bank's notes used red protectors with blank backs, and the second bank used green protectors and an additional green security back. All the issued notes from the bank were redeemed at par when presented, and that second bank likely redeemed notes from the first title, explaining their great rarity (one $2 issued note was reported from the first bank). This is a choice India paper proof and, like so many of the Newman collection Minnesota proofs, is the Hewitt plate note. Under the large red ONE protector is a gristmill scene. In the foreground, a man carries a heavy sack over his shoulder. The tethered horse and pony nestle together; a millstone rests against the building. At near left, children watch the stream rushing under the bridge. Dazzling "1" counters are at bottom left and top right. At upper left, a Native American man sits on a rock next to a waterfall. At lower right, a shipyard and workers are shown constructing a riverboat. There are fifteen proofs from the bank listed in the census, but it is not clear exactly how many are available to collectors; also, that number includes proofs without any protector. There is one example of this proof type reported. It is likely the only other example obtainable and it is in excellent condition. Noted as "Hole Punch Cancelled" and the Hewitt plate note. This is an important Minnesota proof.
    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: 6
    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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