Description

    Extremely Rare Chisago County Bank $1 Proof

    Taylors Falls, MN - Chisago County Bank $1 18__ MN-190 G2, Hewitt B840-D1. Proof. PCGS Choice About New 58 Apparent.
    This bank's notes are only scarce, especially when compared to most of the rare to exceedingly rare banknotes from the state. However, proofs are very rare with only six enumerated on the census, including this and the following example. This is a beautifully engraved and printed type by the American Bank Note Company on India paper only. The bank issued notes for only a few months with the sole purpose of being the intermediary in speculative railroad bond issues. The failure of the bank resulted in notes eventually being redeemed for less than 20 cents on the dollar due to a catastrophic drop in value of the bond collateral kept with the state. Most of the issued notes listed on the 2006 census, 39 at that time, are $1 and $2 black and white notes printed from the "lesser denomination" plate, like this. There was also a $5-$10 plate for the bank with full color proof notes known; that unique pair was sold in the Newman Part VI sale. At left, a farm family takes an al fresco meal break. The woman, seated on a rock, has the food in hand. With a festive air, the man raises his glass. At his feet, the child reclines and gazes at the water. At the lower right, the young woman in the portrait takes a rather studied pose. Noted as "Hole Punch Cancelled" as made and with "Minor Mounting Remnants on Back" that are light. The only other pair of $1 and $2 "small plate" proofs from this bank appeared in the Ford Part III May, 2004 sale, ex: Lucius Ruder collection. While they had some condition flaws, this has a very choice appearance.
    Ex: Eric P. Newman Numismatic Education Society


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    Auction Dates
    October, 2015
    21st-24th Wednesday-Saturday
    Bids + Registered Phone Bidders: 9
    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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