By far among the most fabled and festive rarities in the realm of Obsolete banknotes, the so-called “Santa Claus” notes represent a popular niche where demand often outstrips the limited supply. Even among these rare notes, there are pieces that are seldom offered and make a good number of their counterparts appear quite common in comparison.
A prime example of this comes from Milwaukee in the years before the American Civil War. Issued by the Bank of Milwaukee, this $5 note displays Saint Nicholas, but not just any depiction. Known to collectors as the Type IV, this vignette is unique to the Bank of Milwaukee and is seldom offered. Only a handful of proofs are known and just a single issued piece is available to collectors.
Representative of the only known issued example of this design, Santa Claus appears at left entering a room with a bag of toys on his back while holding a doll in his left hand. Two children can be seen sleeping soundly in their bed in the background unaware of his presence, which seems to please him, making his job easier in delivering their gifts.
Last offered in September 2009 where it realized $19,550, this note will be feature in our upcoming November 2024 Showcase Auction with an estimate of $10,000 – $15,000. It will appear alongside other rarities from the Santa Claus Collection, including a rare example of an issued Obsolete featuring the Type III vignette and a trio of steel cylinder dies that depict the Type I, II, and III Santa Claus vignettes.
For more information about our auctions or to consign your numismatic items, please call 800-458-4646 or email Info@StacksBowers.com.
