Description

    Extremely Rare Bank of St. Paul $5 Proof

    St. Paul, MN - Bank of St. Paul $5 November 1, 1858 MN-155 G6 Hewitt B720-D5a. Proof. PCGS Very Choice New 64.
    The Bank of St. Paul was organized with an authorized circulation of $25,000 to be printed from its $1-$2-$5-$10 plate ordered from Toppan, Carpenter & Co., but with an American Bank Note Company imprint when executed. The bank's issued notes were eventually refused by the officers, but the State Auditor's office had ample collateral (usually railroad bearer bonds in this period) to pay the notes off at nearly par, 98 cents per dollar. Currently in the census are fourteen issued notes, mostly lower grade $1 and $2 notes that originally surfaced at Jules Karp's New York coin shop decades ago. Unlike these is the lone issued $5 with red protector, a lovely note in the Hewitt collection and plated in his book. There are only two proofs of this $5 type without a protector, made only as proofs, and the one seen here is also the Hewitt plate note. The layout is spectacular, showing a buckskin-clad hunter felling an elk with his shotgun, the blast blazing from the barrel, with his trusty dog in close pursuit. This vignette was engraved and used by Danforth, Wright & Co. prior to the 1858 consolidation. At the right, under the "5" die is an Indian hunter on horseback. The title and obligation split the vignettes vertically. Hole Punch Cancelled as usual and as made by the ABN. This is an extremely beautiful and important St. Paul proof title and type.

    Ex: Eric P. Newman Numismatic Education Society.


    View all of [Selections From The Eric. P. Newman Collection, Part VI a. ]

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    Auction Info

    Auction Dates
    April, 2015
    22nd-28th Wednesday-Tuesday
    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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