Reference: Haxby 340-G16
This banknote represents one of the most transformative parts of US History as well as tells of an old success story. The Nassau Bank of Brooklyn NY was incorporated on Feb. 1, 1859, one month before the issuance of this piece (making this not only the highest denomination of its tenure but from its first emission) with a capital of $300,000. A national charter was taken out in 1861, this charter would remain in place until 1935 when it would become absorbed by the Brooklyn Savings Bank. It was one of the very few American private banks to survive; the US Civil War (1861-1865), Crisis of 1893, World War I (1914-1918), The Crash of 1929 (worst economic crisis in US History to this day) and the confiscation of gold by the US government (1933). Another detail of this incredible piece that many collectors may not know awaits on the left side of the obverse. We see a small steamship in the Atlantic making its way east (left) from what is assumed to be the Manhattan coastline. This is actually an illustraton of the Brooklyn-Manhattan Ferry also known as the Fulton Ferry. From 1814 until 1883 (when the Brooklyn bridge was officially opened) this was the only and main form of transportation for commutors from what was then the thriving metropolis of Manhattan to what was considered New York's first suburb: Brooklyn. Better still; The first ship used to make this commute in 1814 was called the Nassau
According to auction records from 1966 until today only 3 pieces have appeared for direct sale or public auction. None other are suspected to exist due to the high denomination and prevalance for the recalling of these notes once the Federal Reserve was formed in 1913. All 3 known examples are hole-punch cancelled and in extremely circulated condition as this is.
