New York $50 1840s Bank of Commerce Proof PMG 58 Choice About Uncirculated

• Country: United States
  
• State: New York
  
• City: New York
  
• Institution: Bank of Commerce
  
• Denomination: $50
  
• Period: 1840s
  
• Type: Proof Obsolete Banknote
  
• Certification: PMG 1996658-001
  
• Grade: Choice About Uncirculated 58
  
• Serial Number: None (Proof)
  
• Vignettes: Classical allegorical group, seated female portraits, maritime symbolism
  
• Printing Method: Proof Impression
  
• Printer: Not specified (typical engraved work of leading 19th-century firms)

A rare and visually striking $50 Proof note from the Bank of Commerce, New York, certified PMG 58 Choice About Uncirculated. Proof obsolete notes were printed in extremely small quantities for archival, approval, or presentation purposes — making them far scarcer than issued notes. This example showcases crisp, uncirculated detail with only light handling consistent with the assigned grade.

The engraving features an impressive central vignette of allegorical figures symbolizing prosperity, commerce, and maritime trade — themes closely tied to New York’s economic prominence in the mid-19th century. The left and right portraits depict finely engraved classical figures, adding balance and artistic refinement to the overall composition. The large “FIFTY” counters and ornate typography give this proof exceptional display appeal.

Graded PMG 58, this note retains deep ink contrast, sharp impressions, and superb clarity typical of genuine proof printings. Examples of high-denomination New York proofs, especially from the 1840s era, are seldom encountered and highly sought after by advanced collectors.

Background Information

During the 19th century, banks issued their own currency, with proof notes serving as official engraver’s specimens used for bank approval and archival reference. These proofs were printed on premium paper, often without signatures or serials, and were never circulated. As a result, they offer a pristine window into the artistry and printing practices of the American banknote industry.

The Bank of Commerce in New York, one of the city’s major financial institutions of the era, commissioned some of the period’s most impressive engravings. Proofs from this institution are prized for their classical themes and their connection to the growth of New York as America’s financial capital.

Because most proofs survived only in engraver archives or museum holdings, privately held examples such as this are exceptionally limited.