Springfield, IL - Clark's Exchange Bank $1 18__ IL-760 G2 SENC. Face and Back Proof Pair. PCGS Superb Gem New 67PPQ & PCGS Choice New 63. This is the first of four pairs of face and back proofs cut from an original sheet sold at the 1990 American Bank Note Archives auction at Christie's. That landmark auction of American Obsolete currency proofs expanded the collecting genre exponentially. Many of the proof issuers and types in the sale were unknown or unverified notes (SENC in Haxby, \"Surviving Example Not Confirmed\") reported by period banknote reporters such as Gwynne & Day. There were a few sheets from this privately named Springfield bank listed in Haxby and confirmed as existing in the sale. This is an Illinois bank and note type, but it is tied to four other cities and states including the parent firm of E. W. Clark & Co., Philadelphia which is titled at the top of the clamshell cartouche in the upper right. Other associated firms are J. W. Clark & Co., Boston, E. W. Clark & Bros., St. Louis, and E. W. Clark & Bros., Burlington, Iowa. This series is from the 1850s, when there was free banking in Illinois, but the notes specify they be \"Countersigned and Registered\" by the state. Issued notes are not known to us from the series. The authorized officers were N. H. Ridgely and James Campbell as published in period directories. Each face and back proof is on India paper mounted on original cards by Danforth, Bald & Co., New-York & Philada. The firm was established by Enoch W. Clark in 1837. According to Moody's Magazine, vol. 17, January-December 1914, \"The drafts of this house drawn between the various branches, were regarded as the very best circulating medium in the West.\" The drover's scene at top left is animated by the dust kicked up by the horse's hooves. A realistic view of a woman gripping the string of the pulley as she draws water from a well is at lower right. The title and protector are across the bottom. The brown security back shows a large ONE die in a complex frame at center flanked by smaller \"1\" dies. Plate A face and top position back. The face is noted as \"Hole Punch Cancelled\" and both are \"Mounted on Card Stock\" as made. There were four $1-$1-$2-$5 face proofs sheets in the ABN Archive sale, but only one sheet of the color backs, matched together here in the Newman Collection. The Gem face and unique back sheet reappeared in the sixth Schingoethe sale and were purchased for $5,175. Individually offered from the Newman Collection in this important sale. A gorgeous pairing of proofs tied to locations that include St. Louis, Missouri. Ex: Christie's Important Early American Bank Notes 1810-1874 from the Archives of the American Bank Note Company, September 14-15, 1990, part of lot 379; Smythe & Co. Schingoethe Obsolete Currency Collection Part 6, March 28-29, 2006, part of lot 1711; Eric P. Newman Numismatic Education Society. \n\n
From Newman VIII (Heritage Auctions, 11/2017), lot 28536, realized $1020. Image and description courtesy of Heritage Auctions, https://ha.com.
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