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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 1, Lot 10008

Estimate: 15'000 USD   |   Starting price: 7'500 USD Price realized: 15'600 USD
Important January 28, 1847 Act $5000 Specimen Note
Unique in Specimen Form-Ex Vattemare Albums
United States of America. Act of January 28, 1847. $5000 6% Two Years Note. Hessler X115E. Specimen. About Uncirculated.
This is an exceptional Mexican War era interest bearing note type and certainly worthy of classification with circulating United States bearer instruments and demand-type notes issued by the Federal Government. As such, we consider this an integral part of all advanced Federal currency collections. This is a stunning bond paper Specimen created by Toppan, Carpenter & Co., Philadelphia and is printed on both sides in issue colors. Unique in this form to our knowledge. First observed and offered in the monumental sale of the Vattemare Albums by Robson-Lowe (Christie's) in 1982 (lot 691 at $4,180.00). 21.0cm by 9.5cm within original rim mounting from the albums. Plate B. Titles across center with obligation. Left end, standing Agriculture with scythe. Eagle above titled and Washington cameo profile to right. Far right, Minerva as America holding the flag proudly. Blue 5000 protector across (this differs slightly from the listed X113 $5000 "essay" which has same layout, but red "5000," and a post-1858 "ABC" monogram; however, that X113 piece is listed and illustrated prematurely in the U.S. Loans book). Lightly penciled "47" in date space. The Hessler plated back here is rust-red with geometric pattern, side 5000 dies, and perpendicular interest table in center. This $5000 is exceedingly rare and important. As mentioned, the Hessler X113 $5000 Specimen listed is a "Sixty Days After" type, not an obligation of this act. That is because this is a Specimen (perhaps an essay) for the March 2, 1861 Act 60 Day notes which are not even illustrated in Friedberg (Fr. 195b-d) and known as Proofs only. The importance of this 1847 $5000 Treasury Note stands on its own, but also as the original plate engraving for what became that unknown March 2, 1861 Act $5000 60 Day Note. A beautiful piece in all regards. Like all of the earlier styles and particularly Specimens from the Vattemare sales, difficult to estimate. The similar two-sided Proof on one card, sold as Ford VI: 430, realized $21,850 after opening at $3,500. Its Vattemare realization at $4,180 indicates its recognition then and in this era of sophisticated collectors, these Vattemare pedigreed Treasury Notes often realize multiples of their levels in that ancient era; often ten times as much. This has been off the market for a long time. John obtained it privately with two other Vattemare pedigree pieces. The typed offering apparently was prepared by the late Dr. Douglas B. Ball. However, because of lack of clarity in the original Vattemare sale catalog and 1994 Middendorf sale, he failed to emphasize the great importance of this Treasury Note. There is a fault at the upper right corner with some thin areas and small disruption, but other than that it is lovely. A real treasure that may exceed the high estimate as it is a Treasury Note type and fits well with Civil War period authorized types listed in Friedberg.

From the John E. Herzog Collection; private purchase within a group from Smythe & Co.; originally Alexander Vattemare Presentation Albums Sale Part One (Robson Lowe/Christie's, April 1, 1982, lot 691).

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