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    Superb Act of February 24, 1815 $10 Proof
    Extremely Rare - One of Three Known Proofs

    United States - Act of February 24, 1815 $10 Treasury Note. Hessler X83C, Fr. TN-14p. Proof. PMG Gem Uncirculated 65 EPQ.
    A very impressive proof cut from Mike's visionary purchase of four proof triptychs from over a decade ago. This $10 design type is the most often encountered from the entire War of 1812 Treasury Note series. However, as a proof it is an extreme rarity. An important offering and a proof impression in superb condition. It is tied for the finest known of three examples confirmed extant that were formerly part of a three-note partial sheet sold as lot 2207 in the Smythe & Co. 2000 Memphis sale. Offered individually from the Coltrane Collection for the first time, they have elicited significant interest.

    An India paper proof, on original card, engraved and printed by Murray, Draper, Fairman & Co. As on all the War of 1812 proofs, small punch-hole cancels are in the three signature areas as prepared at the printer. Size and style are similar to the previous $10 Fr. TN-13a and $5 TN-14 notes. A Federal eagle is at the upper left with its left wing raised higher than its right; in its right talon is an olive branch intertwined with greenery, and in its left are three arrows. A shield rests on its breast, a ribbon with E PLURIBUS UNUM is in its beak, and the radiant sun is behind. Intricate pattern engraving appears on all four sides, and white-on-black textual denominations are at each end. Engraved March 25, 1815. The obligation across the center states, "The UNITED STATES promise to receive this Note for TEN dollars in all payments to them; or to fund the amount at seven per cent. interest ... " Engraved lines designate signature positions: at lower left for the "Register of the Treasury" and at lower right for the two "In behalf of the United States" signers. A short line is at the top for the serial number, but there is no payee or payable location line as used on prior acts. The clause "Receivable everywhere by the United States in payment of duties taxes & public lands" engraved on the three prior acts and Fr. TN-13a at the right end has been replaced by the textual denomination.

    The central plate position F impression from its former four-subject proof sheet (E-F-G-H). The H position proof (likely once part of the original sheet) is illustrated in the first edition of Hessler's Proofs, Essays ... volume (BNR Press, 1979), page 68. The image source is unknown, and that example has not appeared at auction in the modern era.

    This deeply inked proof is boldly printed upon bright white India paper. Full margins are at the top and both sides. There is no printing weakness; the inking is exceptionally clear throughout. The back exhibits some ghosting from a former mount at the sides. Tied for the finest of the three Mike Coltrane Collection $10 proofs. Mike acquired this in 2008 when he purchased the cache of four proof multiples that were originally sold in the 2000 Memphis auction. The other PMG Gem Uncirculated 65 EPQ proof sold for $12,000 in the November 2020 Part 1 sale. This is even better looking and justifiably worth a superior result. Stunning condition, great rarity, and an interesting pedigree combine to provide collectors with an excellent opportunity.
    From The Mike Coltrane Collection.

    Auction Info

    Auction Dates
    June, 2021
    24th-25th Thursday-Friday
    Bids + Registered Phone Bidders: 17
    Lot Tracking Activity: N/A
    Page Views: 175

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