The Professional Coin Grading Service (PCGS) recently had the honor of grading an exceptional and rare piece of history: an 1862 Bank of Germantown $1 note from the State of Philadelphia. This rare note is notable not only for its rarity, but also for its superior surface quality.
This $1 note is the first of its kind to be submitted to the PCGS Banknote division, representing a significant milestone in the field of 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 continued interest and admiration for ancient banknotes, which provide a view into the rich tapestry of financial history and craftsmanship from the past.
Imagine the breathtaking 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 well-known numismatic historian and collector, has 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 honors the daring heroics of Arctic explorers—past, present, and future.
The Dynamic Central Vignette
One of the most appealing aspects of this note is its beautiful central vignette, titled Polar Bear Attack/The White Bear. This artwork, engraved by DeWitt Clinton Hay and inspired by the great artist Felix O.C. Darley, depicts 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 tells a colorful story about the bravery and experiences of explorers who journeyed into the unknown. These artistic and historical qualities make it an intriguing collection for both enthusiasts and historians.
The intriguing story of the Polar Bear Attack vignette, while not directly based on historical facts, has a strong resonance with the age it symbolizes. This remarkable piece was created during Henry Grinnell’s missions to discover the fate of the ill-fated explorer John Franklin and his missing ships, the HMS Erebus and HMS Terror.
These ships lost in the mid-1840s amid the harsh landscapes of the Canadian Arctic region. It wasn’t until the last decade that their wreckage were discovered and designated as a national historic site.
A Masterpiece of Design
The exquisite design of the vignette reflects the creativity of the time. Mifflin provided a lengthy description of this complicated masterpiece, emphasizing components that embodied the spirit and symbolism of the time.
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 decided that this magnificent note is a true masterpiece from the renowned American Banknote Co., embodying the essence of an era of adventure and artistic achievement. If you wish to submit a bill, please contact PCGS.
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