Ladd & Company ELIMA KALA (5 Dollar) Note Medcalf/Russell 2PE-4. Undated but issued circa 1839 at Koloa, Kauai. Plate position A. Uniface. Printed by the Boston Bank Note Co. 30 State St. as indicated at the bottom of the face. ELIMA KALA at left inside ornate rectangular vertical cartouche. The right position displays two large 5s vertically flanking a circular vignette of a sailor standing on a dock near a ship. The central section has a large 5 within a circular vignette, to the right of which is an absolutely beautiful scene of open sea whaling (New England contained many whaling ports but Hawaii was certainly one of the world's whaling capitols during that period). The legend, below, in the Hawaiian language translates as The person who wrote the note herein below states they will give to the person who reads this note the sum of FIVE DOLLARS out of their store at Koloa. Approximately 76 x 177 mm (3 x 7 in.). Mounted in a PMG holder where it is graded at Choice F 15. The comments on the back of the holder indicate that the note is an Unsigned Remainder. We must respectfully disagree with this assessment as we feel that the signature at the bottom right of the note has simply faded (as is the case with one other of the known specimens), and the piece illustrated in the Medcalf/Russell catalog has had its signature Lada ma or Ladd & Co. most likely strengthened at some point. In addition remainder notes, for the most part, are generally not found in a circulated or used state- they are almost always in new or nearly new condition with maybe a stray storage fold in evidence. Also, no mention is made of the small area of missing paper at the upper right corner which, considering the paper's fragile nature, is of relatively minor consequence, especially the note's rarity. This note is Extremely Rare with only three confirmed to exist (one in the Bernice Pauahi Bishop Museum in Honolulu and off the market permanently; one in a private collection; and the presently offered specimen). A fourth was rumored many years ago, but it has not positvely identified or examined. It has never appeared on the open market to the best of our knowledge. An important item from the Damon Collection and one which should elicit considerable interest.
Ladd & Company ELIMA KALA (5 Dollar) Note Medcalf/Russell 2PE-4. Undated but issued circa 1839 at Koloa, Kauai. Plate position A. Uniface. Printed by the Boston Bank Note Co. 30 State St. as indicated at the bottom of the face. ELIMA KALA at left inside ornate rectangular vertical cartouche. The right position displays two large 5s vertically flanking a circular vignette of a sailor standing on a dock near a ship. The central section has a large 5 within a circular vignette, to the right of which is an absolutely beautiful scene of open sea whaling (New England contained many whaling ports but Hawaii was certainly one of the world's whaling capitols during that period). The legend, below, in the Hawaiian language translates as The person who wrote the note herein below states they will give to the person who reads this note the sum of FIVE DOLLARS out of their store at Koloa. Approximately 76 x 177 mm (3 x 7 in.). Mounted in a PMG holder where it is graded at Choice F 15. The comments on the back of the holder indicate that the note is an Unsigned Remainder. We must respectfully disagree with this assessment as we feel that the signature at the bottom right of the note has simply faded (as is the case with one other of the known specimens), and the piece illustrated in the Medcalf/Russell catalog has had its signature Lada ma or Ladd & Co. most likely strengthened at some point. In addition remainder notes, for the most part, are generally not found in a circulated or used state- they are almost always in new or nearly new condition with maybe a stray storage fold in evidence. Also, no mention is made of the small area of missing paper at the upper right corner which, considering the paper's fragile nature, is of relatively minor consequence, especially the note's rarity. This note is Extremely Rare with only three confirmed to exist (one in the Bernice Pauahi Bishop Museum in Honolulu and off the market permanently; one in a private collection; and the presently offered specimen). A fourth was rumored many years ago, but it has not positvely identified or examined. It has never appeared on the open market to the best of our knowledge. An important item from the Damon Collection and one which should elicit considerable interest.
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.jpg "Source: Christie's")
.jpg "Source: Christie's")
.jpg "Source: Christie's")
.jpg "Source: Christie's")
