Lot 2860
Sale 80 · Important Australian, New Zealand & World Coins, Medals & Banknotes
Images
Description
Union Bank of Newfoundland, one pound, Saint Johns (Newfoundland), 1st May 1880, No.7298, imprint American Bank Note Co. N.Y. (Charlton 750-14-06). Several rust spots, flattened of folds and creases otherwise good fine.
The Union Bank of Newfoundland (1854-1894) failed in 1894 due to disastrous economic conditions and a run on the bank caused by the failure of the Commercial Bank of Newfoundland in the same year. The Newfoundland Government assumed the responsibility of redeeming the failed bank's notes. The notes of the Union Bank continue to be redeemable for eight cents on the dollar. Ex Marcel Stanley Collection.
- Estimate
- $400
- Result Status
- Sold
- Prices Realised
- $700