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- Madison, WI - Bank of the West $2 18__ WI-395 G4. Proof. PCGS New 62. The $2 proof from this very rare bank also has a tremendous Wellstood, Hanks, Hay & Whiting, New York layout. A bold impression printed on India paper. At right, a rural scene is under the end of the curving title. A man with a rudimentary crook herds sheep and cattle while a cowboy stops to water his horse. In a rectangular frame at left, a train with black smoke streaming from the smokestack wends forward. The base vignette shows ships sailing in the distance at sunset. The Krause Collection $2 proof with restorations, like his $1 proof, came from the 1994 St. Louis sale and realized $2,300. Noted as "Hole Punch Cancelled" as made. We believe this is one of only two known in private hands. Ex: Eric P. Newman Numismatic Education Society Realized $705.00. Newman VII (Heritage Auctions, 10/2015), lot 18700. Description courtesy of Heritage Auctions.
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- Madison, WI - Bank of the West $2 18__ WI-395 G4. Proof. PCGS New 62. The $2 proof from this very rare bank also has a tremendous Wellstood, Hanks, Hay & Whiting, New York layout. A bold impression printed on India paper. At right, a rural scene is under the end of the curving title. A man with a rudimentary crook herds sheep and cattle while a cowboy stops to water his horse. In a rectangular frame at left, a train with black smoke streaming from the smokestack wends forward. The base vignette shows ships sailing in the distance at sunset. The Krause Collection $2 proof with restorations, like his $1 proof, came from the 1994 St. Louis sale and realized $2,300. Noted as "Hole Punch Cancelled" as made. We believe this is one of only two known in private hands. Ex: Eric P. Newman Numismatic Education Society Realized $705.00. Newman VII (Heritage Auctions, 10/2015), lot 18700. Description courtesy of Heritage Auctions.
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- Madison, WI - Bank of the West $1 18__ WI-395 G2. Proof. PCGS Gem New 66PPQ. This is one of the great Obsolete banknote titles, and it is rarely encountered. Except for the archived proofs at the Wisconsin Historical Society, proofs from the bank were not confirmed in collections until the 1994 St. Louis Smythe Sale. India paper proofs engraved and printed by Wellstood, Hank, Hay & Whiting, like the Newman Collection examples, were offered for the first time at auction. The Newman proofs are the only others known to us in private hands. The $1 layout is exceptional. A trio of men embodying three professions stands at right, under the end of the curving title and the ONE counter. The blacksmith rests one hand on an anvil while the other is tucked inside his shirt, in the manner of Napoleon; the farmer holds ears of corn and a scythe; and the sailor leans on a capstan as he points to a ship at sail. A male portrait is in the left end. The only other $1 proof sold at the Krause collection sale was expertly restored and realized $2,760 in September 2009. Noted as "Hole Punch Cancelled" as made. A Superb Gem with tremendous style. Ex: Eric P. Newman Numismatic Education Society Realized $1292.50. Newman VII (Heritage Auctions, 10/2015), lot 18699. Description courtesy of Heritage Auctions.
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- Madison, WI - Bank of the West $1 18__ WI-395 G2. Proof. PCGS Gem New 66PPQ. This is one of the great Obsolete banknote titles, and it is rarely encountered. Except for the archived proofs at the Wisconsin Historical Society, proofs from the bank were not confirmed in collections until the 1994 St. Louis Smythe Sale. India paper proofs engraved and printed by Wellstood, Hank, Hay & Whiting, like the Newman Collection examples, were offered for the first time at auction. The Newman proofs are the only others known to us in private hands. The $1 layout is exceptional. A trio of men embodying three professions stands at right, under the end of the curving title and the ONE counter. The blacksmith rests one hand on an anvil while the other is tucked inside his shirt, in the manner of Napoleon; the farmer holds ears of corn and a scythe; and the sailor leans on a capstan as he points to a ship at sail. A male portrait is in the left end. The only other $1 proof sold at the Krause collection sale was expertly restored and realized $2,760 in September 2009. Noted as "Hole Punch Cancelled" as made. A Superb Gem with tremendous style. Ex: Eric P. Newman Numismatic Education Society Realized $1292.50. Newman VII (Heritage Auctions, 10/2015), lot 18699. Description courtesy of Heritage Auctions.
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- Madison, WI - Merchants Bank $5 18__ WI-380 G6. Proof. PCGS Very Choice New 64 Apparent. The highest denomination from this very rare Madison proof note series. This India paper proof was engraved and printed by Danforth, Wright & Co. Except for the presence of sheep at the right, the vignette under the arced title resembles a scene from an artist's studio. Moneta, seated on a cushion, leans her elbow on a lockbox partially covered with drapery. Money bags are at the left side. The shield showing a large deer in the wilderness has a curious curled protrusion that supports a curtain. Agricultural goods are at the right. At lower left are the Native American mother and child used on a variety of notes, sometimes with the father included. The bottom right shows cattle being herded along a rural road with telegraph poles at the side. Noted as "Hole Punch Cancelled" as made. Some flaws are noted by grading as "Small Edge Tears; Tape Repair on Back." The broad margins and bold printing render those detriments minor. Ex: Eric P. Newman Numismatic Education Society Realized $493.50. Newman VII (Heritage Auctions, 10/2015), lot 18698. Description courtesy of Heritage Auctions.
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- Madison, WI - Merchants Bank $5 18__ WI-380 G6. Proof. PCGS Very Choice New 64 Apparent. The highest denomination from this very rare Madison proof note series. This India paper proof was engraved and printed by Danforth, Wright & Co. Except for the presence of sheep at the right, the vignette under the arced title resembles a scene from an artist's studio. Moneta, seated on a cushion, leans her elbow on a lockbox partially covered with drapery. Money bags are at the left side. The shield showing a large deer in the wilderness has a curious curled protrusion that supports a curtain. Agricultural goods are at the right. At lower left are the Native American mother and child used on a variety of notes, sometimes with the father included. The bottom right shows cattle being herded along a rural road with telegraph poles at the side. Noted as "Hole Punch Cancelled" as made. Some flaws are noted by grading as "Small Edge Tears; Tape Repair on Back." The broad margins and bold printing render those detriments minor. Ex: Eric P. Newman Numismatic Education Society Realized $493.50. Newman VII (Heritage Auctions, 10/2015), lot 18698. Description courtesy of Heritage Auctions.
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- Madison, WI - Merchants Bank $3 18__ WI-380 G4. Proof. PCGS Very Choice New 64. This $3 proof appears to be the only example in private hands without a protector. The Haxby plate note is from the sheet in the Wisconsin Historical Society. Another impressive India paper proof by Danforth, Wright & Co., New York & Philadelphia. The charming vignette at top center shows three allegorical females, with skirts fluttering as they fly through the air above a mountain vista. At lower right, Mercury depicted as a child sits in the upper half of the ornate "3," and a cherub with rudder crouches within the bottom curve. The base vignette shows a dog and safe motif with the addition of a set of scales. Noted as "Hole Punch Cancelled" as made. There are no auction records known to us, and this is likely the first and only example to be sold at public auction. Ex: Eric P. Newman Numismatic Education Society Realized $998.75. Newman VII (Heritage Auctions, 10/2015), lot 18697. Description courtesy of Heritage Auctions.
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- Madison, WI - Merchants Bank $1 18__ WI-380 G2. PCGS Choice About New 58. Another rare Madison bank with mostly proof notes known. This India paper proof was engraved and printed by Danforth, Wright & Co. with a tremendously attractive layout. Most of a partly concealed, sculptural "Lazy 1" in lathe work runs across the bottom center and extends into the seal to complete the feature. At top center, a milkmaid is seated on a log beside a large shield. It shows the sun rising over the mountains and a sailing ship and passing train in the foreground. Mercury is in a circular frame at lower right. Noted as "Hole Punch Cancelled" as made. The proofs without tint were not in the Krause collection sales, and we believe this is the only $1 proof without protector in private hands. There is minor handling on this impressively engraved proof. Ex: Eric P. Newman Numismatic Education Society Realized $587.50. Newman VII (Heritage Auctions, 10/2015), lot 18696. Description courtesy of Heritage Auctions.
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- Madison, WI - Bank of Madison $2 Oct. 1, 1860 WI-370 G4b. PCGS Very Fine 20 Apparent. The Bank of Madison closed, and apparently, nearly the entire circulation of their $1 and $2 notes was redeemed by a successor bank or the state. This rarity was engraved and printed by the American Bank Note Company. Listed, but not illustrated in Haxby. Under the arced title, cattle are in a watering hole. At lower right, a male portrait is in oval frame. The five-digit machine serial number is 13255. The Krause collection $1 issued note from the series realized $1,610 in September 2009. Noted with "Small Edge Tears and Damage; Pinholes." An important issued note from this very rare bank. Ex: Eric P. Newman Numismatic Education Society Realized $1057.50. Newman VII (Heritage Auctions, 10/2015), lot 18695. Description courtesy of Heritage Auctions.
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- Madison, WI - Bank of Madison $2 Oct. 1, 1860 WI-370 G4b. PCGS Very Fine 20 Apparent. The Bank of Madison closed, and apparently, nearly the entire circulation of their $1 and $2 notes was redeemed by a successor bank or the state. This rarity was engraved and printed by the American Bank Note Company. Listed, but not illustrated in Haxby. Under the arced title, cattle are in a watering hole. At lower right, a male portrait is in oval frame. The five-digit machine serial number is 13255. The Krause collection $1 issued note from the series realized $1,610 in September 2009. Noted with "Small Edge Tears and Damage; Pinholes." An important issued note from this very rare bank. Ex: Eric P. Newman Numismatic Education Society Realized $1057.50. Newman VII (Heritage Auctions, 10/2015), lot 18695. Description courtesy of Heritage Auctions.