St. Louis, Missouri (T.) - Missouri Exchange Bank (of Wm. M. O'Hara & Co.) $1 Dec. 1, 1819 MO-35 G12. PCGS Very Fine 20. An elegantly crafted and appropriately vignetted Missouri territorial-period banknote. Jefferson, the architect of the Louisiana Purchase, and the eventual expansion of America, is prominent at top center. This type is rare. We know of several in collections, but they appear infrequently and this very low number 10 note is pleasing. Like O'Hara's other notes, printed on banknote paper by P. Maverick, Durand & Co., N.Y. At top center, the Jefferson portrait is on a pocket-style oval frame tipped at an angle. It rests on a scroll and shows an inkwell, quill pen, and books at left. A plow is partially seen at right, and a branch hangs over the frame slightly at the top. Intricate ends are composed of Durand-patented dies. Perpendicular are ONE left and MISSOURI at right. The title and obligations across include, \"... at our Banking house.\" A shaded ONE protector is across the center. Plate A. No. 10. Signed by James C.[anfield] Caldwell as cashier and Wm. M. O'Hara & Co. Issued to S. D. Russell (of State Bank at Morris, Morristown where O'Hara was previously employed). In excellent condition, this note has been in the Newman Collection for decades. There is one known $1 proof, sold as Stack's 52 Collection Part I: Lot 5380, which realized $8,625 on June 29, 2010. Like the Bank of St. Louis $5 \"Beaver Trapping\" note, this is a quintessential Missouri design with Jefferson at the top center. According to the cited Ron Horstman article, apparently all the O'Hara notes were paid out, unlike the two larger, chartered territorial banks that failed. Rarely encountered and a handsome Obsolete type. Ex: Eric P. Newman Numismatic Education Society \n\n
From Newman VIII (Heritage Auctions, 11/2017), lot 28383, realized $2400. Image and description courtesy of Heritage Auctions, https://ha.com.
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