The Professional Coin Grading Service (PCGS) recently graded a rare 1862 Bank of Germantown $1 note from Philadelphia. This rare note is notable not only for its rarity, but also for its superior surface quality.
The submission of the first $1 note to the PCGS Banknote Division marks a significant milestone in numismatics. The attention to detail and preservation of this old currency demonstrate the effort and knowledge required in the grading process.
1862 Bill Features
“It’s always exciting when something like this rare Bank of Germantown note enters the PCGS grading room,” said PCGS President Stephanie Sabin. Her enthusiasm reflects the importance of this piece, which is notable not just for its rarity and quality, but also for its engaging and dramatic artwork.
The submission of this note to PCGS demonstrates the continuous interest and admiration for ancient banknotes, providing insight into financial history and craftsmanship from the past.
Imagine the breath taking moment when four men in a small boat witness the unexpected appearance of a majestic polar bear from the freezing waters. This compelling sight is more than just a survival story; it is preserved in art and history thanks to a one-of-a-kind piece of cash.
The Artistic Heritage of the Germantown $1 Note
Logan Mifflin, a famous numismatic historian and collector, has recently submitted the 1862 Bank of Germantown $1 note to PCGS. He provided fascinating insights about the note’s extraordinary design and historical significance.
Inspiration from Arctic Explorers
Mifflin writes, “While the context of outmoded banknote engravings can often be hazy, the creative influence for the Bank of Germantown’s $1 note is plainly evident. It homage the bravery of Arctic explorers from past, current, and future generations.
The Dynamic Central Vignette
The note’s core narrative, “Polar Bear Attack/The White Bear,” is a standout highlight. This artwork, engraved by DeWitt Clinton Hay and inspired by the renowned artist Felix O.C. Darley, captures a dramatic scene:
- Four fur-clad men bravely manage a small boat.
- An intimidating polar bear emerges from the ocean with a terrifying appearance.
- The beast’s enormous claw is already clutching the gunwale.
- Their ship was a huge silhouette on the horizon, adding to the tension.
This note is more than just money; it tells a colorful story about the bravery and adventures of explorers who journeyed into the unknown. Its artistic and historical aspects make it an intriguing collection for both enthusiasts and historians.
Although not based on historical events, the Polar Bear Attack vignette captures the essence of the era. This piece was created during Henry Grinnell’s efforts to discover the fate of the ill-fated explorer John Franklin and his lost ships, the HMS Erebus and HMS Terror. These ships vanished in the mid-1840s amid the harsh expanses of the Canadian Arctic wilderness. Their wreckage were not discovered until the last decade, and they have since been designated as a national historic site.
A Masterpiece of Design
The intricate design of the vignette is a testament to the artistry of its time. Mifflin provided a lengthy description of this complicated masterpiece, emphasizing characteristics that evoke the spirit and symbolism of the age.
Bill Design Elements
- The left side of the obverse features a Native American princess who represents strength and dignity.
- A vignette of a young girl’s head next to her conveys innocence and promise.
- The brilliant vermillion color tint plate features the word ‘PHILADELPHIA’ as the final title, representing the piece’s origins.
- On either side, wide-spaced and tall ‘1’ guardians stand watch, representing security and value.
- The bottom features intricate micro-lettered guilloche, highlighting the design’s craftsmanship and refinement.
Mifflin praised this note as a masterpiece by the American Banknote Co., encapsulating the spirit of discovery and artistic excellence. If you wish to submit a bill, please contact PCGS.
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