The Professional Coin Grading Service (PCGS) has recently had the privilege of grading a remarkable and rare piece of history: an 1862 Bank of Germantown $1 note originating from the State of Philadelphia. This exceptional note stands out not only for its rarity but also for its outstanding surface quality.
This particular $1 note is the first of its kind to be submitted to the PCGS Banknote division, marking a significant milestone in the world of numismatics. The attention to detail and preservation of this obsolete currency highlights the dedication and expertise involved in its grading process.
1862 Bill Features
“It’s always exciting when something like this rare Bank of Germantown note enters the PCGS grading room,” exclaimed PCGS President Stephanie Sabin. Her enthusiasm reflects the significance of this piece, which is distinguished not only by its rarity and grade but also by its captivating and dramatic artwork.
The submission of this note to PCGS underscores the ongoing interest and appreciation for historic banknotes, offering a glimpse into the rich tapestry of financial history and artistry from the past.
Imagine the breathtaking moment when four men in a small boat face the sudden emergence of a majestic polar bear from the icy waters. This captivating scene is not just a tale of survival; it is immortalized in art and history through a unique piece of currency.
The Artistic Heritage of the Germantown $1 Note
Logan Mifflin, a renowned numismatic historian and collector, recently submitted the 1862 Bank of Germantown $1 note to PCGS. He shared intriguing insights into this note’s remarkable design and its historical significance.
Inspiration from Arctic Explorers
Mifflin explains, “While the context of obsolete banknote engravings can often be elusive, the artistic inspiration behind the Bank of Germantown’s $1 note is crystal clear. It pays homage to the daring heroism of Arctic explorers—past, present, and future.”
The Dynamic Central Vignette
One of the most compelling features of this note is its striking central vignette, titled Polar Bear Attack/The White Bear. 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 maneuvering a small boat
- An imposing polar bear rising from the water with a fearsome presence
- The beast’s large paw already gripping the gunwale
- Their ship, a looming silhouette on the horizon, adding to the drama
This note is more than just currency; it’s a vivid narrative celebrating the courage and adventures of explorers who ventured into the unknown. Such artistic and historical elements make it a fascinating collectible for enthusiasts and historians alike.
The captivating tale of the Polar Bear Attack vignette, while not directly rooted in historical events, resonates deeply with the era it represents. This striking piece was created during the time of Henry Grinnell’s expeditions, which aimed to uncover the fate of the ill-fated explorer John Franklin and his lost ships, the HMS Erebus and HMS Terror. These vessels vanished in the mid-1840s amidst the unforgiving expanses of the Canadian Arctic wilderness. It wasn’t until the last decade that their wrecks were finally discovered, subsequently earning recognition 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 offered a detailed description of this complex creation, highlighting elements that capture the spirit and symbolism of the era.
Bill Design Elements
- A Native American princess graces the left side of the obverse, embodying strength and dignity.
- Adjacent to her is a vignette depicting a young girl’s head, adding a sense of innocence and hope.
- The use of a vibrant vermillion color tint plate showcases the word ‘PHILADELPHIA’ as the end title, reflecting the origins of the piece.
- Widely spaced and tall ‘1’ protectors stand guard on either side, symbolizing security and value.
- An elaborate, micro-lettered guilloche adorns the bottom, underscoring the craftsmanship and sophistication of the design.
Mifflin concluded that this exquisite note is truly a masterpiece of the renowned American Banknote Co., capturing the essence of an era marked by exploration and artistic excellence. If you would like to submit a bill, contact PCGS.
