Thrown recklessly into the street to deprive a fire of fuel, notes like this one, found in lot 21346 of our August auction, are a common sight at auction and in numismatic circles. Frequently found displaying the engraved signatures of Teehee and Burke, most examples display evidence of the event which led to their unlikely survival.
Evidence of water damage or even burn marks are unsightly reminders of this event on most such notes. However, a handful of examples like this one are known and give collectors the chance to acquire such a revered denomination for less than face value.
Featuring the engraved signatures of Register John C. Napier and Treasurer Lee McClung, this piece displays the cancellations typical of its peers, but is in scarce company as the finest example recorded in the PMG Population Report with an assigned grade of Choice About Uncirculated 58. It is also among the fewer than two dozen individual pieces recorded by Track & Price.
The cancellations which spell out “PAID *9:25:12* Phila” are seen in conjunction with a pair of imprints from the Philadelphia Clearing House Association and the Tradesmens National Bank of Philadelphia (Charter# 570) along with signatures from representatives of those institutions. The signature associated with the Tradesmens National Bank is that of Edmund Williams who later served as cashier from 1919 to 1927. The portrait of Andrew Jackson, seen at left opposite the obligation and rightmost denomination counter, has borne the brunt of these cancellations.
A testament to numismatic history, this item is more than just another note that can trace its provenance to this storied event, but one that is also exceptional. If you wish to build a first-rate type set of Friedberg numbers, this is an opportunity decades in the making and one without precedent at auction.
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