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Description
Indiana $50-$100 Bank of the State Uncut Proof Pair PMG 66 EPQ Gem Uncirculated Rare
Presented here is an exceptional uncut proof pair from the Bank of the State of Indiana, featuring $50 and $100 denominations on a single unissued sheet. Graded PMG 66 EPQ (Exceptional Paper Quality) Gem Uncirculated, this proprietary proof—cataloged as IN2UNL1PP pp A—represents a rare and high-grade specimen from the golden age of American obsolete currency, meticulously preserved in flawless condition.
The top half of the sheet features a $50 note with a central portrait of a dignified gentleman in formal attire, flanked by allegorical vignettes symbolizing commerce, negotiation, and agricultural labor—hallmarks of Indiana’s early economic base. The denomination is boldly displayed in geometric medallions on both sides, and the promise to pay is finely engraved:
“Bank of the State of Indiana will pay Fifty Dollars to bearer on demand.”
The bottom half showcases the $100 note, with a different trio of allegorical female figures at center—perhaps representing liberty, learning, and abundance. Portraits of prominent political or industrial figures occupy each corner, reinforcing the note’s authoritative design. Both notes are captioned with the date July 1st, 1851, marking this proof design as part of mid-19th century monetary planning, though never officially issued.
Printed by Rawdon, Wright, Hatch & New York & Philadelphia, this proof pair demonstrates the incredible detail and artistry employed by the top banknote engravers of the era. The reverse is blank, as is typical of proof issues, and the sheet remains untouched by serial numbers, signatures, or seals.
The uncut format offers visual symmetry and artistic cohesion, making it especially desirable for display or advanced numismatic collections. Such sheets were originally produced for archival, approval, or specimen purposes, and very few were preserved—even fewer in this pristine grade.
Collector’s Value:
This uncut $50–$100 proof pair from Indiana is a show-stopping piece for collectors of obsolete U.S. currency, state banking history, or high-grade proofs. With PMG 66 EPQ Gem Uncirculated status, razor-sharp detail, and unmatched paper integrity, it stands as a rare survivor of mid-1800s American banking artistry. Whether framed or stored, this piece is a crown jewel for any collector of proof banknotes or early Midwest financial history.