Friedberg 199 (W-3245). Act of March, 3, 1863 $100 Interest Bearing Note. PCGS Currency Extremely Fine 40. Face Essay Proof.Hessler-ITE12. India paper only. Plate B. Imprint of American Bank Note Company. Green grill protector and two green C numerals. Center, Lansdowne Portrait of Washington. Lower left, America, shield and flag. Lower right, Justice and eagle (as used on U.S. Fractional 50 Cents). There are several face proofs known, various plate letters, of this type. This has another excellent pedigree besides the Middendorf sale. Its earlier provenance traces back to Louis Werner and Farran Zerbe. It was also the plate note in the first Essay Proof book by Gene Hessler. There are some very light vertical folds. The note projects a choice appearance with bold color. The wide left margin has a chip out and it just barely touches the frame line. Partially engraved date at right of center where issued notes are seen with an overprinted date in red. PCGS Currency mentions "Missing UL Corner Tip; Small Edge Tear at Top Center" in the comments section of the holder. We last handled this piece in our March 2012 Baltimore sale where it brought $11,500 as lot 5416.<p>Again, here is a beautiful proof that will fit nicely into an advanced collection, taking the place of an "impossible" issued note.<p>Farran Zerbe, probably the most controversial figure in early 20th century numismatics, showed his Money of the World collection (probably including this proof), at various expositions including the 1904 Louisiana Purchase and the 1915 Panama-Pacific International, plus in dozens of bank lobbies where he would buy coins from the public. He served as president of the ANA and was condemned for rigging the 1909 election in order to elect a friend. After Dr. George F. Heath, publisher of <em>The Numismatist,</em> died, Zerbe as ANA president traveled to Monroe, Michigan to buy the magazine for the ANA, or so everyone thought. Instead he bought it for himself. In 1949 the ANA Board wanted to create its highest award, and Louis Werner (also listed on the pedigree for this note) suggested Zerbe. At the time there was virtually no interest in numismatic history, and board members did not know Zerbe was a scoundrel. <p>From our March 23, 2012, Baltimore Sale, lot 5416; Christies sale of the Hon. J.W. Middendorf II Collection Sale, March 22, 1994, lot 160; Bowers and Merenas sale of the Ezra Cole Collection, January 23-25, 1986, lot 4022; Louis Werner Collection; ex Zerbe Collection.
