Lot 1575
Undated (ca. 1839) Ladd & Company $5 (Kala Elima) Scrip Note Koloa Plantation, Hawaii. PCGS graded Apparent VF, minor edge damage; hinge remnants on back. An extremely rare scrip issue from this early plantation company, one of only a handful known and just the third auction appearance that our research has located. Ladd & Company started the Koloa Plantation, the first commercial sugar plantation in Hawaii, on the island of Kauai. Because of the local scarcity of currency and in order to meet its daily payroll, the company printed its own currency, redeemable in merchandise at the company store. It is undated but issued circa 1839 at Koloa, Kauai. 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 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." This significant rarity is one of the real highlights of this Hawaii collection, and ranks as one of the most important pieces of Hawaiian history in this sale, as well. This is a key obsolete note from Hawaii with a macho maritime vignette of whale hunting. Only 3 known; this being the only one signed.
Estimated Value $20,000 - 30,000.
Ex A.J. Ostheimer; Edwards H. Metcalf privately in the late 1960's; Superior Auction Feb. 1976, lot #1199; Ronald Russell; Present Owner.
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| Realized $24,150 |
