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    Description

    Exceedingly Rare Issued New Orleans Mechanics' & Traders' $50 Note

    New Orleans, LA - Mechanics' & Traders' Bank $50 Jan. 23, 1862 LA-85-UNL SENC. PCGS Very Fine 25.
    One of the rarest issued Louisiana banknotes from the Newman Collection and an important high denomination. This is from the last unregistered series of notes with no auditor signature (the engraved "Auditor" perpendicular at top left is crossed out in red, similar to G36a SENC otherwise). Exquisite style by Rawdon, Wright, Hatch, & Edson, N.O. & N.Y. A mechanic is seated next to a large pipe at the upper right, with a shipyard in the background. Ends show counters at top and bottom with a standing sailor at the left and a Mechanical Industry allegory at the right. The orange back has the title across the center. The only other note from the bank we handled was a lesser-grade $10 note which realized $2,990 in January 2009. The paper is wholesome and natural, the orange back color is vibrant, and the note is perfectly margined all around. The only example we have seen. A phenomenal combination of great rarity, pedigree, and condition.
    Ex: Eric P. Newman Numismatic Education Society


    Auction Info

    Auction Dates
    November, 2018
    7th-10th Wednesday-Saturday
    Bids + Registered Phone Bidders: 13
    Lot Tracking Activity: N/A
    Page Views: 199

    Buyer's Premium per Lot:
    20% of the successful bid (minimum $19) per lot.

    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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