VERY FINE AND VALUABLE COMPREHENSIVE HOLDING OF 1903 SCHERNIKOW ESSAYS FROM THE 1861 CONTRACT COMPETITION.
The following is quoted from the website of leading essay and proof dealer James E. Lee: "Early in the 20th Century there occurred a bankruptcy sale of the effects of the Philadelphia Bank Note Company, which had inherited from the Toppan, Carpenter Company the duplicate dies of the 1851 issue, to which numerals had been added to all the values except the 10c and 30c, for submission as essays with their proposal for the 1861 contract. The buyer of the dies was Ernest Schernikow, an officer of the Hamilton Bank Note Company. In 1903 they made reprints from the dies in as many as fifteen colors. It is believed that this was done to help recoup the $10,000 Schernikow paid for the effects of the Philadelphia Bank Note Company. For years they were peddled along Nassau Street in New York."
This is one of the most comprehensive groups of Schernikow essays to appear on the market, comparable to the 1856 sale of the Hackett collection and the Siegel 2006 sale of the Lake Shore collection. Scott Retail more than $50,000.00