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Stack’s Bowers and Ponterio   |   The August 2018 ANA Auction   |   23 August 2018 Sort by Lot-NumberSort by Estimate
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Session 4, Lot 2059

Estimate: 7'500 USD   |   Starting price: 4'500 USD Price realized: 16'800 USD
New York
Marvelous 1875 New York Ace
Courtesy Autographed by A.U. Wyman
New York, New York. $1 1875. Friedberg 384 (W-44). The Continental NB. Charter #1389. PCGS Currency Gem New 66 PPQ.
Marvelous may not adequately describe this incredible 1875 Ace from an early New York issuer. There are four boardwalk margins on both the face and back. The paper is wonderfully original with razor sharp corners and strictly original surfaces. The machine printed signatures are sharply presented in bold blue inks. Incredible details are seen in the vignette "Concordia" that features two maidens shaking hands near center. The back printing is brilliantly executed with the dramatic scene "Landing of the Pilgrims" centered with the state seal of New York at left and an eagle with shield at right. Further adding to the appeal of this note is the courtesy autograph of Treasurer A.U. Wyman, found on the face of the note. This is the single finest example of the catalog number to be graded by PCGS and one of just four $1 Nationals of all varieties they have graded at the 66 PPQ level with none finer.About the Bank

The Continental National Bank was chartered in 1867 with a capital of $2,000,000, authorized up to $5,000,000, becoming one of the largest banks in the country. Uriel A. Murdock was the founding president and Cornelius F. Timpson was the first cashier. The bank ran into a financial squeeze in the recession of 1873, and although there was no danger of failure, its capital was reduced to $1,500,000. Business continued with various ups and downs. On May 24, 1901, it was placed in voluntary liquidation, after which it was merged into the Hanover National Bank of the City of New York, charter 1352.

PCGS Population: 1; none finer.
From Heritage Auctions' sale of September 2006, lot 16935.

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