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(Salt Lake City, U.T.) - Reissued Kirtland Safety Society Bank $2 Mar. 9, 1837 OH-245 G4, Wolka 1424-06, Rust 68, Nyholm 31. P...
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Description
Extremely Rare Brigham Young-Signed and Reissued Kirtland Safety Society Bank $2 Note
(Salt Lake City, U.T.) - Reissued Kirtland Safety Society Bank $2 Mar. 9, 1837 OH-245 G4, Wolka 1424-06, Rust 68, Nyholm 31. PCGS Fine 15.This is an extremely rare $2 Kirtland note, countersigned by Mormon officials, including Brigham Young, in Salt Lake City in January 1849. The reissuance of the Kirtland notes transported across the frontier to the valley fulfilled Young's promise that the "Kirtland banknotes would someday be as good as gold. The reissued notes were backed by gold and accounted for fastidiously in ledgers that exist today. The census of Ohio-signed and Salt Lake City-reissued Kirtland Safety Society notes is carefully studied and added to when new examples surface. This lovely, elegantly penned note is now offered to the public for the first time.
The host $2 note was engraved and printed from the Underwood, Bald, Spencer & Hufty, N. York & Philad. small plate ($1A-$1B-$2A-$3A). The harvesting vignette at top center shows slaves toiling in the field in the background, observed by a farmer who leans on a tree and his seated wife. The title is straight across the note and fairly tightly spaced. The ends show "2" numerals with an oval vignette between: a man shearing a sheep on his lap at left, and a clipper ship sailing away at right. In 1837, the note was issued with the signatures of J. Smith, Jr. (secretarial, or "scribe) and S. Rigdon. The original issue date is visible at the upper right, and the embossed Seal of the Twelve Apostles at the upper left is difficult to see (partially visible from the plain back). Reissued with countersignatures at Salt Lake City by N. K. Whitney, Brigham Young and Heber C. Kimball. The Heber C. Kimball signature is directly on top of, and obliterates, Sidney Rigdon's name (he was excommunicated in 1844). At upper right is the "TB" initial mark for Thomas Bullock, just after the serial number 1218 and before the plate letter A.
There were 22 $2 notes resigned; this is verified on the original Rust listing. Doug Nyholm estimated only four or five known when he published his book in 2010, but we are aware of at least one $2 re-issued Anti-Bank-ing note appearing in an auction since then. The present example is now confirmed and cataloged for the first time. It is a beautiful note with immaculate surfaces and the excellent paper quality. Well margined almost everywhere except along the top left border. The countersignatures are bold and that of Brigham Young stands out. The Ford Part VI: Lot 609 example was headlined as "The Rarest Countersigned and Reissued Type." That was graded "Very Fine" and sold raw for $18,400 in October 2004. We have cataloged only one $2 reissued note. That heavily foxed note graded PCGS Very Fine 30 Apparent sold for $20,700 at our 2010 ANA Sale. This is a splendid example and the final of three different reissued Newman Collection low denominations. An important opportunity for Mormon and historical note collectors to acquire a significant rarity.
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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