St. Louis, Missouri, (T.) - Missouri Exchange Bank (of Wm. M. O'Hara & Co.) 12-1/2 Cents October 1, 1819 MO-35 G2. Proof. PCGS Very Choice New 64 Apparent. The Missouri Exchange Bank (of Wm. M. O'Hara & Co.) notes are another interesting chapter in St. Louis banking at the close of the territorial period and impending statehood. O'Hara came from Morristown, New Jersey with impeccable credentials from that State Bank and quickly was promoted at the Bank of St. Louis to cashier, replacing short-tenured Theophilus W. Smith (a cohort of John B. N. Smith in the \"rag money\" purchasing and specie redemption fraud). The Bank of St. Louis closed in June 1819 and O'Hara rented space from Auguste Chouteau, the remaining banker in St. Louis, and opened this unchartered private bank. Chouteau raised the rent for the space after the $250 deposit expired, likely annoyed at new competition. Postmaster Aaron Crane and Samuel Wiggins (operator of the St. Louis & Illinois Team Boat Ferry Co.) had ordered their engraved scrip notes to be printed at P. Maverick, Durand & Co. O'Hara also had his notes printed there; he was involved in settling the Crane estate and redeemed notes for the St. Louis & Illinois Team Boat Ferry Co. Issued change bills are exceedingly rare, but proofs appeared in Vacca. This proof was printed directly to an original card by P. Maverick, Durand & Co., then later mounted to new cardstock. In a simple style with the bowled title across the center and a large \"12 ?\" at the top. Intricately engined end panels used Cyrus Durand's early lathe machine patents. In perpendicular oval cartouches at the ends are \"12 1/2\" at left MISSOURI at right. The engraved city and date, with space across for the signature, are at the bottom. Plate C. The Haxby plate note. Noted with \"Minor Stains,\" which consist of subtle foxing, and \"Mounted on Cardstock.\" This extreme rarity was obtained by Eric from Christian Blom in 1993 and might be the only proof in a private collection. There is a proof impression on an unusual sheet array in the New-York Historical Society from the Durand Family Archives. That sheet has an impression of this type, a 50 cents from the bank, a Bank of Hamburg $2 (C.C. Wright imprint), and a State Bank of New Jersey Post Note with the P. Maverick, Durand & Co. imprint. This was last offered publicly in 1981. Another great rarity, printed for a fascinating frontier banker. Ex: NASCA, Dr. Joseph Vacca Collection Sale, April 27, 1981, lot 405; 1993, Christian Blom (in trade); Eric P. Newman Numismatic Education Society. \n\n
From Newman VIII (Heritage Auctions, 11/2017), lot 28379, realized $960. Image and description courtesy of Heritage Auctions, https://ha.com.
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