THE ARTIST BEHIND THE EDUCATIONAL SERIES

Walter Shirlaw, among numismatists, is best known for designing the iconic vignette, Electricity Presenting Light to the World, on the face of the 1896 $5 Educational Series note, which is often regarded as the most beautiful in U.S. currency. He is also familiar as the designer of the allegorical vignette, Progress, on the back of the 1901 $10 Bison Legal Tender note. But Shirlaw was much more than a banknote designer and engraver. He was a prominent 19th century American artist and made significant contributions to both American art and numismatic design.

Shirlaw's journey into the world of currency design began as a banknote engraver for the American Bank Note Company in New York, and later the Western Bank Note Company in Chicago – a career he pursued to help finance his artistic education. By 1861, he had established himself as one of the nation's leading engravers.

Beyond numismatics, Shirlaw concurrently played a key role in shaping American art. His first major work of art was displayed in 1861 at the National Academy of New York City. He also achieved international acclaim for works such as Sheep-shearing in the Bavarian Highlands, which earned "Honorable Mention" at the Paris Exposition of 1878. In addition, he was the founder of the Society of American Artists and its first president. He was instrumental in founding the Art Institute of Chicago and contributed major public artworks, including the dome designs of the Manufactures and Liberal Arts Building at the 1893 Chicago World's Fair and The Sciences allegories in the entrance hall of the Library of Congress. As an educator, he taught artist Katherine Dreier, co-founder of the transformative Société Anonyme with Dadaists Marcel Duchamp and Man Ray. Today, Shirlaw's works are held in major institutions, including the Metropolitan Museum of Art, the Cooper Hewitt Museum, and the National Academy of Design.

An exciting trove of his preliminary sketches and pastels are included in our upcoming CSNS US Currency Signature Auction Platinum Session. The auction runs April 29-May 2 with the Platinum Session including these lots on the last night of the auction. These lots come from the estate of Frederick B. Smillie, son of esteemed banknote engraver G.F.C. Smillie, who held prominent roles at various firms before becoming Chief Engraver at the Bureau of Engraving and Printing in 1894. At least six members of the Smillie family worked in banknote engraving, with some—most notably James D. and William H. Smillie—also active as professional artists. Both frequently exhibited alongside Walter Shirlaw in juried exhibitions and competitions, suggesting a strong likelihood of personal and professional acquaintance. Given the overlap between artistic and engraving circles of the period, it is plausible that these works were either gifted to the Smillie family or served as early sources of inspiration for banknote design.

A standout piece in this collection is a large work titled Fragment Pastel. Likely created as a preparatory drawing for a mural or decorative panel, this striking pastel exemplifies Shirlaw's signature neoclassical style, reflecting late 19th-century ideals of enlightenment and progress. Notably, the reverse of the piece bears Shirlaw's address at No. 3 Washington Square North, New York City—a building that housed both Shirlaw and fellow banknote artist William H. Low as inaugural tenants in the late 1880s. Over the years, the address became a significant hub for American art, later home to notable figures such as Dennis Miller Bunker, Thomas Eakins, Mary E. Tillinghast, F.W. Stokes (chief artist on Robert Peary's Antarctic expedition), and, most famously, Edward Hopper. In fact, a work by Dennis Miller Bunker will be featured in Heritage's upcoming 2025 May 16 American Art Signature Auction, further connecting this historic address to the legacy of American art.

Another highlight among the Shirlaw works in our upcoming Platinum Session is an untitled sketch of an allegorical subject, likely intended as part of a larger composition or vignette design for engraving. The central female figure, positioned before a stormy backdrop with lightning bolts, suggests a possible early iteration of Walter Shirlaw's allegorical concept for Electricity. This theme would later be fully realized in his celebrated vignette Electricity Presenting Light to the World, featured on the 1896 $5 Educational Series note—one of the most iconic designs in American numismatic history.

In addition, one of the most exciting offerings in this upcoming auction directly linked to the 1896 $5 Silver Certificate is an Ivoryette Cabinet Card Photograph of Annie Wintermuth, dated 1893. An inscription on the reverse, signed by Fred, reads: "Miss Annie Wintermuth of New York City; Original for central figure and face in engraving of Shirlaw's $5.00 'picture note' silver certificate of 1894—5." This note refers to Walter Shirlaw's celebrated vignette Electricity Presenting Light to the World, which appeared on the obverse 1896 $5 Educational Series silver certificate, long regarded as the most beautiful design in the history of U.S. paper money.

The identification of Wintermuth as the model for this central allegorical figure represents a remarkable discovery. While the design has been widely studied for its artistic and allegorical content, the identity of the figure's model has remained undocumented—until now. This cabinet card provides a rare, tangible link between the artistic conception of the note and its real-life inspiration, adding to our understanding of both Shirlaw's process and the broader historical context of the Educational Series.

To complement this offering of artwork is a Fr. 268 $5 1896 "Educational" in PCGS 68 PPQ, which is tied for the finest known. The pairing of the pinnacle of United States Banknote design in the ultimate grade, along with the artwork and history behind the immaculate design, is a numismatic event of its own.

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