DescriptionMaumee City, OH - Maumee City Insurance Company $3 December 1, 1838 Wolka 1624-05. PCGS Fine 15.
Wendell Wolka considers this a bank, and the note's engraved style certainly agrees with that assessment. Chartered in 1838 as an insurance company, the firm, which was controlled by interests in Kentucky, soon acted as a "bank" that rapidly put hundreds of thousands of dollars into circulation with no substantive backing. The Ohio bank commissioners quickly branded it an illegal note issuer, and it was placed into receivership in November 1839 during that turbulent period of bank crises. Excellent period engravings by W. F. Tucker, Philadelphia show Commerce at top center, a farm woman at left and a train traversing a bridge at right. A rarity with very distinctive engravings.
Ex: Eric P. Newman Numismatic Education Society.
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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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