(St. Charles), MO - Treasury or any of the Loan Offices of the State of Missouri 50 Cents at 2% per Year (Act of June 27, 1821) October 1, 1821 Cr. 01. PCGS Very Fine 35 Apparent. The 1821 Loan Office of the State of Missouri 50 cents is a miracle of survival and stands as one of the most historically significant state financial instruments. This is the only reported example and is likely unique. The lowest denomination from the authorization, it appears to be printed locally from a copper plate (the opinion of Douglas B. Ball, Vacca sale cataloger), but not an exceptionally well-crafted one. A spread-winged eagle is perched over an arced MISSOURI, cupped within a banner with those ends over \"50\" dies. Title, obligation, and interest statement are across the center with \"TAXES or DEBTS\" in large type. The \"182\" is engraved, and the last digit of the date is written. Signed by the treasurer and auditor for the state. Plate B. No. 1077. This is the only example we have encountered. Eric P. Newman obtained this in trade from Christian Blom. Blom purchased it at the Joseph Vacca Collection sale held by NASCA in April 1981 for an impressive $1,680 (the buyer's charge was 5%); this historic treasure has not been offered since. At that time, it was vertically severed (perhaps as cancellation) and crudely strip-repaired from the blank back. At a later date, it was professionally restored, with the strip removed, the paper integrity improved, and the appearance of this museum piece reinvigorated. Noted by PCGS with \"Restorations.\" The entire 1821 Missouri series is unillustrated in the Whitman-published Shull-Criswell Southern States reference. All notes are unpriced and Rarity 11 (2-4 known). This Vacca-pedigreed example is plated in Grover C. Criswell's Confederate and Southern States Currency book (last published in 1992). Not since the November 1996 Western Reserve Historical Society sale, held by Spink America (Christie's), has any note from this series appeared at public auction. In that sale, an unissued $3 (Cr. 03) sold for $1,650 (\"About Uncirculated, punch cancelled\") to a leading Missouri collector in attendance at the sale. This historic issue exemplifies Eric's deep interest in Missouri currency, which in this case intersects with his career as an attorney. Ex: NASCA, Dr. Joseph Vacca Collection Sale, April 27, 1981, lot 409; Christian Blom (in trade); Eric P. Newman Numismatic Education Society \n\n
From Newman VIII (Heritage Auctions, 11/2017), lot 28385, realized $2640. Image and description courtesy of Heritage Auctions, https://ha.com.
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