LOT Old Heritage Auctions  /  2008 Jan. FUN Signature Currency Auction #456  / 

12767

Denver, CO- Clark, Gruber & Co. $5 18__

Currency:USD Category:Coins & Paper Money Start Price:25,000.00 USD Estimated At:50,000.00 - 70,000.00 USD
Denver, CO- Clark, Gruber & Co. $5 18__
<B>Denver, CO- Clark, Gruber & Co. </B></I>$5 <BR> This is one of the most historic and important Obsolete notes as this issuer also struck gold coins in 1860 and 1861. Very few of these Clark, Gruber & Co. notes have survived in collector hands, likely because they were payable at par "in Denver Coin" while the notes of the Federal government were not payable in gold and were sold at a discount. We are able to document in private hands just two Proofs, with the Ford example selling for $77,625 in 2005, a record price for an Obsolete note. We can also document two remainders, this example with serial number 1999 and the Schingoethe example grading Extremely Fine with serial number 2007 which sold for over $60,000, also in 2005. Prices such as these for an Obsolete Note have earned these notes a comparison to the 1804 Silver Dollar and Grand Watermelon notes and rightfully so. <BR>The $5 denomination was the only denomination issued by this private bank and mint, and when the first notes were issued they were written up in <I>The Rocky Mountain News </B></I>of August 3, 1861, attesting to the importance of this issuer in the local Denver community. This piece has bright, original paper surfaces, vivid inks, sound borders, and a lovely overall appearance. The portrait to the right is that of William Gilpin, the first governor of the Colorado Territory. A small spot in the left margin is mentioned solely for the sake of total cataloguing accuracy. This is a spectacular western item and a wonderful opportunity for one fortunate collector to add a majestic note of true rarity and historical importance to his holdings. Nice <B>Very Fine</B></I>.<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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