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DEVOTED TO THE STUDY OF CURRENCY
Society ojf Paper &ono/ Collector,i
VOLUME 1 SPRING 1962 NUMBER 2
PUBLISHED QUARTERLY BY THE SOCIETY OF PAPER MONEY COLLECTORS
Editor Hank Bieciuk
Foster W. Rice, Arlie Slabaugh,
Fred R. Marckhoff, C. J. Affleck, Dwight L. Musser
Subscription $3.00 Per Year
One Time Yearly
Outside Rear Cover $35.00 $130.00
Inside Front & Rear Cover 32.50 120.00
Full Page 27.50 100.00
Half Page 17.50 60.00
Quarter Page 10.00 35.00
Direct Advertising to the Editor. The Right Is Reserved to Reject Any Advertisement.
"Legalized Swindling System" by Eric P. Newman,
Numismatic Education Society Page 3
"Operation Fix-Up" by Hank Bieciuk Page 3 and 4
"S.P.M.C., Why"? by Earl Hughes Page 4 and 5
"Why Paper Money"? by Rev. Frank H. Hutchins Page 5
"New Korean Paper Money" by Dwight L. Musser Page 5, 6 and 7
"Tenino Wooden Money" by Arlie R. Slabaugh Page 7, 8 and 9
New Membership Page 9, 10 and 11
ociet9 of Paper ilteney Collecter4
OFFICERS — 1962
President Hank Bieciuk
First Vice President James J. Curto
Second Vice President Thomas C. Bain
Secretary George W. Wait
Treasurer Glenn B. Smedley
APPOINTEES — 1962
Historian-Curator Earl Hughes
Attorney Ellis Edlowitz
BOARD OF GOVERNORS — 1962
Julian Blanchard, Harold L. Bowen, Ben Douglas, Amon G. Carter, Jr., Philip H.
Chase, James Kirkwood, Walter M. Loeb, Dwight L. Musser, Eric P. Newman,
William A. Philpott, Jr., Peter Robin.
Paper litene9VOL. 1, NO. 2 PAGE 3
"Legalized Swindling System"
Contributed by Eric P. Newman, Numismatic Education Society
In examining a $5 banknote of the Exchange Bank of
Virginia payable at its Richmond Branch and issued in
Norfolk on July 9, 1855, I found a tirade against the
issuance of this type of banknote printed on the reverse.
It is obvious from its content that these inflamatory remarks
were printed on the note during its circulation and as such
have historical importance. While business advertisements
and exchange broker's stamps were often placed on the
back of banknotes during their circulation, the following
comment about the paper money itself is most unusual:
The paper banking system is essentially and necessar-
ily fraudulent. The very issue of paper as money is always
a fraud, and must operate to rob the earnings of labor
and industry for the gain of stock-jobbing, wild specula-
tion and knavery and to corrupt private morals and degrade
national character. The object, as well as the effect, of the
paper-money system is to enable those who have earned
or accumulated nothing by labor, to exchange their nothing
for the something, and often the everything, earned by
the labor of others.
But worse and more fraudulent in effect than the
general paper-money system is that of Virginia, because
that the latter adds the feature of branch banks—which,
alone, would serve to render banks more irresponsible, and
therefore more corrupt and dishonest. The different branch
banks, by exchanging their notes, and each issuing only
the notes of other and distant branches, and refusing to
pay any but their own (which they thus keep far from
home), actually can always maintain a virtual suspension
of payments, even when not directly shielded by the law
in refusing to pay. And this, the most contemptible of their
evasions of the obligations of law and honesty, has been
availed of extensively, and with entire efficacy.*
And yet more fraudulent and more injurious is the
banking system of Virginia than the general, because the
penalties ostensibly imposed on the illegal acts of banks
cannot be enforced; and were not intended to be enforced.
And all the general and also the peculiar fraudulent
principles of the banking system of Virginia are rendered
more effective and more malignant because the govern-
ment is partner in trade with the banks—and thus foolishly
attempts to share in the dishonest profits of the banks,
made by cheating both the government and the people.
And this attempt always results, as must do leagues for
pillage concerted between knaves and their dupes, as joint
operators and sharers. The stock-gambling and borrowing
interest, (not the simple and honest stockholders) get all
the benefit of the league and the cheating, and the govern-
ment and the people pay the cost and suffer all the
*Though some years have now passed since the falsely pre-
tended resumption of payments, there is not now a truly
specie-paying bank in the principal towns of Virginia; nor
will there be, while the present legal policy, (which per-
mits the irresponsible swindling system), shall exist.
Operation Fix Up, by Hank Bieciuk
You can take a coin out of circulation, but you can
never take the circulation out of a coin. Familiar? You bet!
The same is true of currency. But, there is something you
can do to improve the overall appearance of some circul-
lated notes. Many of the notes acquired from non-collector
friends look as if they had been trampled to death! For
some strange reason, these notes are usually badly crumnled.
Others have been carefully folded and carried in billfolds
for years. Even notes purchased from dealers are apt to
have a couple of corners carelessly bent. All of these notes
can be improved with a little time, patience, practice and
For "operation fix-up" you will need an electric iron,
some Kleenex, a pocket knife and a hard smooth surface
upon which you can iron. An ironing board won't do
because it is usually padded and cloth-covered and a hard
surface is a must.
First, spread a Kleenex on the table and lay the note
on the Kleenex. Dampen another Kleenex and keep it
handy. Plug in your iron, set it at low temperature and
you are ready to begin.
Let us suppose that the note you wish to improve had
a couple of corners bent. Pick up your knife (preferably
a knife with small blades) and gently lift up the corners
and fold them back into place. It is best to use a knife, as
there is less danger of tearing the note while folding back
the corners. Next, pick up the dampened Kleenex and
moisten the corners you have just folded back. With the
damp Kleenex smooth down any other wrinkles or creases
present. Now put a dry Kleenex on top of the note and you
are ready to iron. (Placing a Kleenex on top of the note
before ironing prevents giving the note a "shine.")
Now, pick up your iron and move it slowly back and
forth over the note until the dampness is gone. Remove the
note, place it on a flat surface, or in a book, and place more
weight, such as books, over it. Leave it alone for six hours
or more. Not only will the note look better, it will be worth
If the edges of your note are ragged, get a sharp pair
of scissors and carefully cut away as much of the ragged
edge as the margin of the note will permit. Most notes have
fairly wide margins and will permit this little operation.
Of course, if your note was cut close to begin with, there is
little you can do.
CONTINUED NEXT PAGE
PAGE 4 Paper ',tenet/ 1VOL. 1, NO. 2
OPERATION FIX UP CONT'D FROM PAGE 3
For our next patient, let us select a note that is either
torn or has a cut cancel. NEVER, NEVER, NEVER use
a cellophane tape to repair a tear or cut! These cellophane
or scotch tapes have a tendency to "bleed" after a period
of time and will ruin the appearance of a note.
Go to an office supply store and purchase either the
regular library mending tape or the new Magic Mending
Tape by Minnesota Mining Company. Both are excellent.
The big difference between the two is that the library
mending tape must be moistened before applying while
the Magic Mending tape needs only to be applied. Which
is best is a matter of preference. I prefer to use both,
depending upon the repair.
Let us assume that we are going to use the library
mending tape and that the note has been torn almost in
half. First, smooth down the torn edges and place them
together so that they fit perfectly. If the tear is over 1 inch
in length. I like to use several pieces of tape laid end to
end rather than one long piece. It is far easier to work with
in this manner.
The tape is on a roll and is about 5/8" in width. Cut
a piece of tape about an inch in length and 1/8" in width.
Moisten the tape and place it over the center of the tear
beginning at the end of the tear and working up to the edge
of the note. Cut another piece exactly like the first and
overlap the first piece at the point you ended the first
repair. Continue this until the entire tear has been mended
with the tape.
Notes that are cut cancelled, as almost all Government
and Republic of Texas notes are, can be repaired in the
same manner. Some collectors prefer not to repair cut can-
cels. Personally, I believe such a repair, skillfully done,
actually improves the appearance of a note. It will also
prevent any possible damage of further tearing the cut
cancel while handling the note.
Now let us clean some notes. If you have a crisp
uncirculated and UNSIGNED note that is discolored or
foxed, you can restore its original brightness.
The foxing is brought about by time and the oil or
cleaning compound used in wiping the printing plate after
each impression. We shall, in effect, bleach the note. How-
ever, the only thing that will be bleached will be the dis-
coloration. The original printed design will not be affected
in any way since printer's ink cannot be bleached. Written
signatures and dates can be bleached by the method to
be described later.
For this bleaching operation, we will need the follow-
ing: 2 pots, pans or dishes capable of holding 4 quarts of
water each. Chlorox or Purex, clean heavy white paper or
blotter, Kleenex and an electric iron. Fill one pan with
two quarts of water, add two tablespoons of bleach and
stir. Fill the other pan with two quarts of water and set
aside. Into the water and bleach solution, immerse the
foxed note edge first. Leave completely immersed for 20
Now carefully remove the note from the bleach solu-
tion and immerse it in the second pan of clear water. This
clear water will act as a rinse. After 30 minutes of soaking,
remove and place the note on a piece of clean, heavy white
paper or blotter. With a crumpled Kleenex, carefully blot
away the excess water. Plug in the electric iron, set it at low
temperature, spread a Kleenex over the wet note and you
are ready to iron the note.
Carefully move the iron over the entire surface of the
note. As the note becomes dry, after approximately one
minute of ironing, it will have a tendency to curl. This is
a good place to stop the ironing. Pick up the note, place
it between the pages of a heavy book, and set aside for six
hours or more. The previously stained or foxed note should
now be as bright and white as the day it was printed.
Almost all of the circulated notes we shall wish to
clean, will have penned signatures and usually a penned
date and serial number. Although we shall use exactly the
same materials as above, we will have to alter the proce-
dure somewhat. If not, the signatures, date and serial
numbers will be bleached from the note.
Immerse the circulated note into the bleached solu-
tion. Now, carefully watch the note. After 5 to 10 min-
utes of soaking, the penned portions of the note will show
signs of fading. At this point, remove the note and place
it into the rinse pan. The amount of soaking in the bleach
solution will depend on the type of ink used in signing
the note. Some inks are more stable than others and will
permit a longer soaking time. In turn, a longer soaking
time will, of course, mean a cleaner note.
Leave the note in the rinse water for 30 minutes,
remove and iron as before. Not only will the note appear
cleaner and brighter, but any wrinkles or creases it might
have had will be lessened. Place the note between the
pages of a heavy book and set aside for 6 hours or more.
The matter of cleaning circulated notes is an individ-
ual process, arrived at through trial and error. Some
notes will be greatly improved and others will resist all
attempts at cleaning. The factors involved—types of paper,
inks used, amount of circulation, etc.—will govern the
measure of success you can expect. However, the time and
effort spent in attempting the cleaning, will be richly
rewarded in greatly improved notes.
S. P. M. C., Why? by Earl Hughes
Let us hear the parable of the paper money collectors.
There was a time when PMC's were scattered all over the
face of the earth and within that field was buried the
rarities of great price. And they said, "Let us keep this a
secret." Then every collector gathered together all his pos-
sessions and tried to purchase the field. They spent all of
their living in riotous buying, but no man was able to
purchase the field wherein lay the rarities of great price.
Then they said, "This will we do. We will keep this
a secret no longer. We will distribute our knowledge and
not hide our collections in an album." They joined the
A.N.A. and showed their collections at conventions and
began to write about them in numismatic publications.
Their fellow collectors perked up at this appetizer. They
said, "Here we are with silver and gold, and these paper
CONTINUED ON NEXT PAGE
Paper litene9 PAGE 5VOL. 1, NO. 2
S. P. M. C., WHY? CONT'D FROM PAGE 4
money collectors are happy with "rags." Let us see what it
is all about." They tasted, and wanted more. The price
of the field of great rarities grew and grew and no man
was able to purchase it.
Then the paper money collectors said, "Though we
cannot buy the field, we will set up a society thereon.
Surely we are entitled to squatters rights. We will file our
claim and spend the rest of our days right here."
And that, my Child, is why, in this year of 2000 A.D.
you see this great museum erected on this field. Within
are great rarities, and common "rarities," exhibited where
the kings and the common may view the beauty, or drab-
ness of their history through the ages. At last the rarities of
great price are available to the eyes of the world.
In the East Wing, once each year are met the PMC's
of the world for a festive convention of fellowship. In the
West Wing is housed the library of knowledge of good and
evil of paper money . . . publications of the S.P.M.C., only
a dream in 1961.
Over the threshold of the present . . . to the past .. .
walks the future.
Why Paper Money? by Rev. Frank H. Hutchins
Paper money interests few numismatists; yet it has
many points coins lack. It's easier to house, more beautiful,
and more identifiable. Your coins are more like a million
others; any bill you have is yours alone, with a serial num-
ber as identifying as if it had your name across it. But it's
even more than that: it's a fairly untried field.
In the later series, notably the silver certificates of the
series of 1899 and the legal tender notes of 1901, 1907, and
1917, constant changes were made in the placing of the
plate numbers, both obverse and reverse; in the McAdoo
red-seal Federal Reserve notes, District designations in
the upper left-hand corner were a late addition; and the
small-sized notes, by the increase in the legibility of the
plate numbers during Morgenthau's term of office, present
many interesting subvarieties demanding exploration and
a tabulation of results.
I hope, in future articles, to list discoveries that I
myself have made; and going on from this, I'm sure that we
can get as good a cataloguing of the many subvarieties of
paper money as exists for large cents, early silver coinage,
and the like, with differences more pronounced and more
discernible than almost any that exist on coins. Many
pieces will show up, I'm sure, as soon as we're aware of
what to look for, and if all of us who have found paper
interesting do cooperate I'm sure that we can make this
branch of numismatics take the place it should have in
the numismatic field.
New Korean Paper Money, by Dwight L Musser
Following the occurrence known in Korea as "The
Democratic Revolution" on April 19, 1960, plans were
made to replace the portrait of Dr. Syngman Rhee on the
country's paper money with a more appropriate feature.
Rhee, who had served as President since 1948, fled from
the country as a result of the revolution. Consequently, new
1000 Hwan and 500 Hwan notes have been issued with a
likeness of King Sejong taking the place of that of Dr.
Rhee. A description of the new notes follows:
1000 Hwan Note of 1960
CONTINUED ON NEXT PAGE
Paper i1tone9 VOL. 1. NO.2
NEW KOREAN MONEY CONT'D FROM PAGE 5
Date issued: August 15, 1960.
Size: 165 x 73 mm.
Paper: Special banknote paper with shaded watermarks.
Design and colors.
Face: Portrait of King Sejong.
Letters and frame Black
Second background Bronze
Third background Citron green
Seal and issue numbers Red
Serial number Black
Back: Frame Cork
Background Dark green
500 Hwan Note of 1961
CONTINUED ON NEXT PAGE
VOL. 1, NO. 2
Paper 1f tone PAGE 7
NEW KOREAN MONEY CONT'D FROM PAGE 6
Date issued: April 19, 1961.
Size: 156 x 73 mm.
Paper: Special banknote paper with shaded watermarks.
Design and colors:
Face: Portrait of Sechong King (King Sejong).
Letters and frame Dark green
First background Turquoise Blue
The new notes, which reflect high standards of quality
and craftsmanship in their production, were printed by
the Banknote Printing Plant in Pusan, a branch of the
Government Printing Agency with headquarters in Seoul.
The paper was produced by the Tae Jon Paper Mill, also
a branch of the Government Printing Agency, located in
Tae Jon. The notes are distributed through and by the
Bank of Korea, the government central bank.
Second background Cream
Third background Bronze
Seal and issue numbers Red
Serial Number Black
No date was fixed for the exchange of the former
1000 and 500 Hwan varieties of currency, which remained
legal tender pending further announcement.
Technical data courtesy of Mr. Byung II Chang and
Mr. Young Heum Kang, managers of the Note Issue De-
partment, The Bank of Korea. Sources: Official announce-
ments and direct correspondence.
Tenino Wooden Money, by Arlie R. Slabaugh
Following the "Crash of 1929" the Citizens Bank of
Tenino, Washington closed as did many other banks
throughout the country. As a substitute for frozen assets
in the town's only bank, the Chamber of Commerce re-
sorted to depression scrip. Tenino deserves special mention
as it originated wooden money which proved to be self-li-
quidating even during the Great Depression—even a short-
age of cash could not stop the great American souvenir
The first issue was dated December, 1931 and was
printed on paper. This issue consisted of 105 of $10; 305 of
$5; 605 of $1; and 300 of 25c. All of this and succeeding
issues were printed by Don M. Major, Secretary, and one
of the Trustees of the Tenino Chamber of Commerce. As
publisher of the town's newspaper, the Thurston County
Independent, he was, of course, the logical person to print
After printing the paper scrip, Mr. Major thought of
using some thin wooden material he had in the shop to
print scrip on. These wooden strips had been given him as
samples with the purchase of some wooden Christmas cards
(it was December). Although there are earlier examples
in wooden numismatic items in the United States such as
the wooden die stamped medals of the Centennial Exposi-
tion of 1876 and Columbian Exposition of 1893, wooden
money as we think of it today in the United States origin-
ated with Mr. Major. As far as known the idea suddenly
came to him while contemplating the cardlike wooden
samples he had on hand and that he had not known of the
souvenir Austrian issues of 1920 (on heavier wood) or
other foreign issues.
In any event he printed 40 of 25c scrip on the thin
wooden sample sheets dated December, 1931. This is the
CONTINUED ON NEXT PAGE
5c 11111111111111111111111111!E111111111illillIMITI1111111111i!1111111111111111III I Sc
THIS SCRIP IS WORTH
In Wooden Money
c 1111111111111111111111151111111111111111111111111111111111101110111111111111111111! gc
Paper Iltene9 VOL. 1, NO. 2
TENINO WOODEN MONEY CONT'D FROM PAGE 7
rarest issue. And, in printing it, Mr. Major never used
deceit about its purpose. He frankly stated that he hoped
that after placing them in circulation the wooden issues
would be such a novelty that they would be kept by col-
lectors and souvenir hunters and never redeemed. He fur-
ther stated that they exceeded his "fondest hope."
The Tenino wooden money was made from two-ply
slices of Sitka spruce (in which the area abounded) cut
to 1/80th of an inch thickness and made strong by a sheet
of paper pasted between the two surfaces. The next issue
dated February, 1932 consisted entirely of wood: 100 of $1,
375 of 50c, and 2600 of 25c. All were issued through the
Chamber of Commerce and were signed by F. W. Wich-
man, D. M. Major and A. H. Meyer as Trustees. Each
scrip states that "This Certificate is good only during the
process of liquidation or within six months after the reor-
ganization of Citizens Bank of Tenino."
The March, 1932 issue was likewise of wood but intro-
duces a novelty—"watermarked" scrip made by having
the paper pasted between the outside wood strips bear a
printed slogan, "Confidence makes good, money made of
wood." Of this variety, which could be seen when held to
the light, there were 100 of 50c (rare), and 1000 of 25c.
Of the usual type without "watermark" there were printed
155 of $1 and 2500 of 25c.
The issue dated April, 1932 has the redemption pro-
visions changed to read that "This Certificate is redeemable
only until January 1, 1933." Apparently for this reason it
also bears the designation "Second Series." Otherwise the
design is same as preceding issues except for date. Of this
issue there were printed 300 of $1, 600 of 50c and 5000 of
25c. Both plain and "watermarked" wood was used for all
denominations. The "watermarked" ones are rare.
All of the preceding 1932 issues bear similar designs
as follows: 25c, blue, with Washington on reverse in brown;
50c, red, with Lincoln on reverse in blue; $1, brown, with
Lincoln on reverse in green. Varieties exist in addition to
regular type: Feb. 1932, 25c, both sides brown; March
1932, 25c, no watermark, green reverse; March 1932, 50c,
no watermark; March 1932, $1, green obv., brown rev.;
April 1932, 25c, both sides brown; April 1932, $1, both
sides brown; June 1932, 25c, with star added to rev.; July
1932, 50c, with two stars added to rev.; August 1932, 25c,
Similar issues in denominations of 25c, 50c and $1
were also issued with dates of May, June, July and August,
1932. However, I seem to be lacking the figures on the
number printed with these dates. Perhaps some reader can
oblige. These have printed signatures instead of hand-
written as on previous months.
D. M. Major also issued a wooden nickel of his own
for small change. Undated (1932) it reads "Confidence is
essential if money is to circulate. When money flows freely
prosperity will return" printed in green. The denomination
side is printed in red.
In January, 1933, A "Third Series" was issued. This
issue states that it will be redeemed in December, 1933
"From Thurston County Warrants and the Assigned Divi-
dends from the Liquidation of the Citizens Bank of Tenino,
Wash." This issue is made of red cedar wood instead of
Sitka spruce. There were printed 200 of $1 (Coolidge on
reverse), 200 of 50c (Washington on reverse), and 2000 of
25c (Lincoln on reverse). All are in two colors with signa-
tures printed. The 50c is in two varieties, green with red
rev. and red with blue rev.
Thl's Certitzeto fa Redeemable by the Trustee of the
Chamber of Commerce
rt4:41 DivIdeada Assigned to It from tit. Citizens Sauk of tentue,
For the Amount of
IN UNITED STATES CURRENCY
TI,Is Car tIllsats I* rethussushia
lAtt Y sA Joatiary 1, 14.13.
ISSUE OF APRIL, MU
Paper !limey PAGE 92 VOL. 1, NO. 2
TENINO WOODEN MONEY CONT'D FROM PAGE 8
Wooden money of same type as the January, 1933
issue is supposed to exist with April, 1933 and May, 1933
dates. Except for the April, 1933 25c I have not seen these
and any that exist with these two dates can be considered
rare. By this time there were many wooden money issues
and the novelty was wearing off—the Chicago World's Fair
of 1933 was offering wooden nickels at a lot cheaper price
than the Tenino pieces could be had. Thus, the Tenino
wooden money could not longer compete on a price basis
and anyway the bank emergency in Tenino had by now
been weathered—they didn't try to push a good thing ad
infinitum. But while they were in use they served a real
need, by helping ease a crisis when the whole nation was
distraut and each town was largely on its own.
The Thurston County Independent newspaper also
issued lc, 2c, 3c wooden scrip in 1933 with a postage
stamp placed between the two thin layers of wood. These
are now rare. A final wooden issue of Major's was in 1935
when sales tax was instituted in Washington state. His
newspaper issued small square temporary tokens made of
wood for the 1/5 cent sales tax on 10c or less (2% tax).
The reverse pictured a donkey in red with the inscription
below "Is his face red?" indicative of the people's dislike of
the tax. A similar token was printed for L. A. McLain of
The Tenino wooden money helped accomplish what
it set out to do—set the town's banking facilities in order.
A profit was made, and in no time at all, over a hundred
other towns had followed suit with wooden money. Others
tried leather, shells, etc. to encourage people to keep them
as souvenirs so that they would never have to be paid off.
Most depression scrip, though, is of paper, often liquidated
through a stamp system rather than through its novelty,
and served during the depression as a town's circulating
medium. The paper issues of Tenino, for example, are
usually in used condition.
New Membership Roster
No. Name and Address
372 L. P. Schweiger, 536 South Dewey Avenue, Jefferson,
C Currency of the Civil War Period
373 Mrs. Philip L. Budd, 1005 Avenue G, Fort Madison, Iowa C Fractional Currency
374 Michael Todascu, 4825 20th Street, Box 144, Laval C-D Canadian
West, P.Q., Canada
375 Gilvin A. Ayers, 2345 South San Antonio, Pomona, Calif. C Paper Money and Medals
376 Robert Goodpaster, 7155 East 21st Street, Apt. 6, Indi-
C Broken Bank Notes
377 Col. James W. Curtis, 2117 Noble Avenue, Springfield,
C Illinois and Mexican Paper Money
378 Arthur E. Carlson, 335 Wyandotte Street, Bethlehem,
C Foreign Currency
379 John P. Butler, Route 1, Grandfield, Oklahoma C Anything Used as Money
CCNTINUED NEXT PAGE
Paper Money VOL. 1, NO. 3.
No. Name and Address
380 Dr. Leonard M. Rothstein, 2409 Sylvale Road, Balti-
more 9, Maryland
Regular (Non-Charter) Members
C National Bank Notes, Obsoletes and Colon-
ials of Maryland sa
381 Dennis E. Coyle, 518 East Haney Avenue, South Bend
C All Paper Money la
382 GySgt. R. R. Sullivan, MABS-17 (Comm.), c/o FPO C All Ja
San Francisco, California Ja
383 Edward E. Cooke, 712 Lyons Avenue, Charlottesville,
C German Notgeld 1914-1922
384 Albert Philip Cohen, 137 East 28th Street, New York 16,
C U.S. Fractional Currency
385 William Smietana, 4441 South Marshfield Avenue, Chi-
cago 9, Illinois
C China JapanInvasion—AMC
386 Kenneth M. Gayer, P. 0. Box 111, Montreal, P.Q.. C-D Foregin
387 John Strojny, 4 South Page Street, Kingston, Pennsyl-
388 Paul J. Reuter, P. 0. Box 85—Times Square Station,
New York 36, N. Y.
All (General Foreign)
389 J. B. Craven, 16 East Center Street, Lexington, North C
390 Eddy Echenberg, 88 Wellington Street, North, Sher-
brooke, Quebec, Canada
391 Leonard Phillippi, 901 Young Street, Piqua, Ohio C Foreign Paper Money
392 Louis R. Karp, 2214 Brighton Avenue, Louisville 5,
393 David W. Karp, 900 Alta Vista Road, Louisville 5, Ky. C-D General
394 Andre L. Helfer, 78 West Street, Medford 55, Massa-
D General Foreign
395 C. Meister Phetteplace, Elm at Broad & Boyd Streets,
396 Thomas R. Simmons, 1040 Cedarwood Road, Glenolden,
397 Captain Glenn E. Thompson, 33rd Medical Company,
APO 58, New York
C Coins and Paper Money of the World
398 A. Maes, Librarian, Banque Nationale de Belgique, Brus-
399 Edward K. Elder, 530 Jefferson Street, N.E., Albuquer-
que, New Mexico
C U.S. Large Notes
400 W. R. Bishop, Drawer 100 Emlenton, Pennsylvania C $2 Uncirculated U.S. Notes
314 Konstantin A. Jansson, 624 Sixteenth Avenue, San Fran-
cisco 18, California
C Paper Money of Russia, Poland, Finland,
Baltic States, P.O.W., Broken Banks
401 Charles F. Blanchard, 1514 Canterbury Road, Raleigh,
402 Dr. M. R. Talisman, 893, Central Avenue, Woodmere,
C Post World War I Currency
403 Alson Thomas Staley, PSD/USAID, American Embassy,
Djakarta, Java, Indonesia
(Send magazine to
9510 Huntington Drive, Corpus
404 Charles Karp, 1760 Union Street, Brooklyn 13, New C U.S. and Foreign Paper Money and Coins
405 Captain Kenneth C. Levin, 219 Colmar Road, Fort Ord,
C Foreign, Especially WW2, China, Soviet
Union, British Empire
406 Rev. E. G. Stevens, 1066 South Plymouth Boulevard,
Los Angeles 19, California
407 Walter D. Rudisill, R. D. No. 2, Seven Valleys, Pennsyl-
D Currency and Coins
408 Michael Kolman, Jr., 4263 Pearl Road, Cleveland 9, Ohio D All
409 Jack Marles, Box 10, Station A, Calgary, Alberta,
410 Al Wolfson, 4421 Belview Avenue, Baltimore 15, Mary-
C U.S. Coins and Currency, CSA, Foreign
411 George E. Tillson, 120 East Hartsdale Avenue, Harts-
dale, New York
C Foreign Bank Notes
412 Hal Woolway, 1025 Palms Boulevard, Venice, California C P.O.W., W.W.2, Mexico, China, Japan
413 Captain J. E. Wilkinson, CSC Box 1665, Maxwell AFB,
2VOL. 1, NO. 2
Paper 11tone9 PAGE 11
414 Mrs. Adolph B. Hill, Jr., 4925 Pershing Place, St. Louis
415 L. J. Waters, P. 0. Box 1051, Madison 1, Wisconsin U.S. Notes, National Bank
416 Isao Gunji, Curator, Museum of Moneys of the Bank of Currency and Coins
Japan, Muromachi Nipponbasi Tynoku, Tokyo City,
417 Saichi Fujiyama, Maruaka-machi, Nishiuriya, Fukuiken,
Old Paper Money—Han-Satsu (Clan Notes)
418 James W. Johnson, 602 Woodmere Road, Berea, Ohio Large U.S. Bills and Fractional Currency
419 Walter M. Jasinski, 300 Maple Street, East Long-
Change of Address Only
311 C. F. Mackenzie, 401 Ocean Villa-1245 Beach Avenue,
Vancouver 5, B. C.
115 John B. Hamrick, Jr., 165 Fourth Street, N. W., Atlanta
Obsolete and Broken Bank Notes
Canadian Obsolete Notes
Colonial and Continental Notes
of Southern Colonies
Or . . . What Have You?
B. M. Douglas
402 Twelfth St. N. W. Washington 4, D. C.
Buy or Trade
Colonial, Broken Bank,
State, County, Town
Notes and Bonds
Charles J. Affleck
34 Peyton Street Winchester, Virginia
Large U. S. Currency
$1.00, $2.00, $5.00 & $10 Notes
Can Use Up To 100 Pieces (or more)
of Each Denomination.
These Are Not for Collectors, But Must
Be Nice, VG F or Better.
NEW ENGLAND NOTES
• ALTERED NOTES
• SUTLER NOTES
OTHER UNUSUAL NOTES
Will Buy or Trade—Large Quantity of Notes Available
for Trade. Includes Broken Bank, U.S., C.S.A., Frac-
tional, Colonial, etc.
Box 959 Indio, Calif.
Glen Ridge, New Jersey
Government of Texas, Republic of Texas,
State of Texas
One of the nicest and largest offerings ever made! These notes are highly prized,
much sought after and very seldom available. During the past few years we have
built up our stock to the point where we can offer you this material for the first
time. Don't wait on these—it will be a long time before we can offer such a won-
derful selection again.
GOVERNMENT OF TEXAS — 1838 and 1839
$5 Cr H-16 Indian on Horseback Chasing Bison. Fine $30.00
$10 Cr H-17 Ship left, Industry Seated Right. Fine $30; VF 35.00
$20 Cr H-19 Liberty left, Minerva right. Fine $30; Very fine 35.00
$50 Cr H-21 Justice seated, Sailor and Flag at left. Fine $25; VF 30.00
REPUBLIC OF TEXAS — 1839 to 1841
$1 Cr A-1 Ceres seated, Indian brave at left. VF $25; Unc. 30.00
$2 Cr A-2 Cowboy roping steer, Stag at left. Fine $22.50; VF 25.00
$3 Cr A-3 Ceres seated by Lone Star. Fine $25; Very fine 27.50
$5 Cr A-4 Indian brave seated. Very fine 25.00
$10 Cr A-5 Hercules at left, Ship at right. F $22.50; VF $25; Unc. 30.00
$20 Cr A-6 Indian and maiden by shield, Indian at left. Unc. 27.50
$50 Cr A-7 Steamship center. Nude maiden at left. Very fine 30.00
$100 Cr A-8 Minerva seated, Mercury flying. F $30; VF $35; Unc. 40.00
STATE OF TEXAS
These are warrants issued during Civil War
$3 Cr 10 Green and black. Uncirculated 10.00
$5 Cr 11 Green and black. Uncirculated 6.00
$5 Cr 14 Green and black. Uncirculated 7.50
$10 Cr 17 Red and black. Uncirculated 10.00
$10 Cr 20 Green and black. Uncirculated 10.00
$20 Cr 26 Green and black. Uncirculated 9.00
$50 Cr 32 Fancy green reverse. Uncirculated 10.00
Limited quantity, so order early. All items sent postpaid in heavy acetate holder.
Satisfaction always guaranteed.
We wish to purchase quantities of broken bank notes and Texas county notes and
scrip. Send with price wanted or send for our offer.
"America's full-time obsolete currency dealer"