Paper Money - Vol. III, No. 4 - Whole No. 12 - Fall 1964

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Paper atone DEVOTED TO THE STUDY OF CURRENCY VOL. 3 FALL 1964 No. 4 OFFICIAL PUBLICATION OF Cociety of Paper lone Collector.4 © 1964 by The Society of Paper Money Collectors (blank page) Paper Motel FALL 1964 VOL. 3, NO. 4 WHOLE NO. 12 PUBLISHED QUARTERLY BY THE SOCIETY OF PAPER MONEY COLLECTORS Editor Barbara R. Mueller, 523 E. Linden Dr.. Jefferson. Wis. Assistant Editor Fred R. Marckhoff, 552 Park St.. Elgin. Ill. Direct only manuscripts and advertising matter to the Editor. Direct all other correspondence about membership affairs, address changes, back numbers and sample copies of Paper Money to the Secretary, J. Roy Pennell, Jr., P. 0. Drawer 858, Anderson, S. C. Membership in the Society of Paper Money Collectors, includ- ing a subscription to Paper Money, is available to all interested and responsible collectors upon proper application to the Secre- tary and payment of a $4 fee. Paper Money is not otherwise available. ADVERTISING RATES 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 The right is reserved to reject any advertisement. CONTENTS "Lith. by Ed. Mendel, Chicago," by Fred R. Marckhoff 79 SOPMC News and Notices 84 The Buying Power of Foreign Paper Money, by Peter Robin 85 The Relationship Between Serial Numbers and Positions, by George W. Killian 87 The Trading Post 88 The Photography of Paper Money (II), by Barbara R. Mueller 89 S-Money, by Michael B. Kromeke 92 Mounting Your Paper Money for Storage and Exhibition, by David Paskausky 93 A One Hundred Thirty-Six-Year-Old Bank Note, by C. E. Wismer Osmun 94 Secretary's Report 95 A Warning: Altered Currency May Be on the Market 99 society oif Paper iiteney Cellectam OFFICERS — 1964-65 President Thomas C. Bain, 3717 Marquette Dr., Dallas 25, Tex. Vice President Dr. Julian Blanchard, 1 Sheridan Sq., New York 14, N. Y. Secretary J. Roy Pennell, Jr., P. O. Drawer 858, Anderson, S. C. Treasurer Glenn B. Smedley, 1127 Washington Blvd., Oak Park, Ill. APPOINTEES — 1964-65 Historian-Curator Earl Hughes Attorney Ellis Edlow BOARD OF GOVERNORS — 1964-65 Thomas C. Bain, Julian Blanchard, William P. Donlon, Ben Douglas, Nathan Goldstein II, George D. Hatie, Morris H. Loewenstein, Fred R. Marckhoff, Paul S. Seitz, Arlie Slabaugh, Glenn Smedley, George W. Wait VOL. 3, NO. 4 Paper Money PAGE 79 "Lith. by Ed. Mendel, Chicago" By Fred R. Marckhoff The above title is a quotation of one of the imprints used by Edward Mendel, Chicago lithographer, in the late 1850s and early 1860s, to designate his workmanship on obsolete notes of that period. If this were the only imprint ever used by Mendel there would be nothing unusual about it, and there would be no purpose in writing this article. BUT, this imprint- is only one of NINE known Mendel imprints, each one different, and all illustrated herewith as a group for the first time. And there is a good possi- bility that at least several other varieties also exist. Furthermore, while Mendel was using nine or more different imprints in designating his workmanship, virtu- ally every other known engraver or lithographer at that time had only ONE and the SAME imprint for all the work done on obsolete notes. Used as a symbol or trade-mark easily recognizable to both printer and user of currency, this imprint not only identified the printer but also served to establish the genuineness of the note itself. Thus there was a definite advantage to having a uniformity of identification. Quite evidently, all engravers realized this, with the exception of Mendel, of course. Before proceeding further, however, it should be pointed out that there is one qualified exception to the above remarks: The American Bank Note Company had both a black-letter-on-white paper, imprint, as well as a white-on-black-background imprint. There is good rea- son to believe that these two varieties gave their patrons a less conspicuous imprint if they so desired, inasmuch as the former was much more prominent and had the appearance of an advertisement of the company on the note. But the question remains—why did Mendel disregard a practice that other firms conformed to so religiously? There is nothing on record, either from Mendel or any of the others, as to why this was so. However, there are several logical possibilities which present themselves as likely reasons. First is that Mendel was virtually alone in his field in Chicago, away from the many engraving firms in the East, giving him freedom and unconcern in the matter of uniformity of imprints. If such were the case, his workers could well have been free to use whichever variety they desired, or each could have made his own favorite imprint, which distinguished his work from the others. A somewhat lesser possibility rests in the fact that a common practice at that time was for lithographers to copy engraved vignettes. The completed lithographic work then became the property of the maker, who was free to use it in any way he saw fit, including on obsolete bank notes. Although not completely ethical, there was no legal restriction involved unless the vignette bore the notation, "Reg. at U. S. Pat. Off. ", with the date thereof also given. Actually, this gave the buyer a choice of identical vignettes in more expensive engraving or in cheaper lithography. Inasmuch as Mendel's firm did a consider- able amount of this copy work in the make-up of obso- lete notes, it was subject to objections from engraving firms at all times. But with at least nine different im- prints, such copy work was much more difficult to pin- point or prove than that of a firm with only a single, identical imprint. This copy work of engraved vignettes was not only done in the East„ South and West alike, but was also done among bona fide engraving companies themselves. In the latter case, however, often only a portion of the vignette was copied; the rest was created by the copying engraver. Mendel's work, whether in original or copy, was of the highest order and frequently to the point where it is difficult to tell lithography from engraving. In Glenn B. Smedley's article in the September 1958 issue of Numismatic Scrapbook is mentioned the name of one of Mendel's most able workmen, Robert H. Piratsky, whose family donated an album of vignette proofs to the Chicago Historical Society many years ago. Many of these vignettes can be found on notes issued by Mendel, as well as on notes issued by the larger eastern engraving firms. Edward Mendel was born in Berlin. Germany, about 1826. He came to the United States in 1847 and began business in 1854, or possibly a little earlier. His business locations in Chicago were at 162 and 170 Lake Street, and at State & Washington Streets in the old First National Bank building. His firm was absorbed by, or sold out to the Chicago Branch of the National Bank Note Com- pany. Mendel died in April, 1884. Shown here are the nine known Mendel imprints as shown on various notes, plus an enlargement of each. There are specimens identical to the imprints shown here, but with the commas or periods in varying degrees of visibility or invisibility. These actually are printing faults and not varieties. PAGE 80 Paper Money VOL. 3, NO. 4 NOP .25 'f:N 4). IVE CENTS !ern aetwunt teinnFire KEA- K WAHL I': FOB CITY TAXE, I31411.• ) - ( ).\' I,vi) ///%, i /% /// /X/ 7%/2/ , tai Variety 1. LITH. BY ED MENDEL, CHICAGO, on 5c City of LaFayette, Indiana note, Nov. 25, 1862. Variety 2. 'EDWARD MENDEL, CHICAGO. I , on $1.00 The Dubuque, Marion & Western Rail Road Company of Dubuque, June 15, 1861. //l (7/YV/./. 4it/i3h/tiv, VOL. 3, NO. 4 Paper Money PAGE 81 },:to ML AIDEL 011110.11.1111111N. Variety 3. ED. MENDEL, CHICAGO, on $1.00 Thomp- son C. Bartle, of Independence, Iowa, —185,—. Ed Afraid I Chic eo. Variety 4. Ed. Mendel, Chicago., on 10c H. A. Watkins & Bro., of Galesburg, Illinois, Sept. 12, 1862. HCCJVN771111C BAILING PliESS COMPANY MANDREL) DOLLARS /;,/,/, 444,47/;;//4:- /../ •"1/ ///: /4,4 9/ theewl (4,,,,47//7 • /1474y 17( erne/al ei/ (crib,/./. PAGE 82 Paper Money VOL. 3, NO. 4 Variety 5. Lith. by Ed. Mendel, Chicago., on Share Cer- tificate of The E:- centric Bailing Press Company (and others). Ilk sew Mendel fitly a Ns. Variety 6. Lith. of Ed. Mendel, Chicago, on $5.00 TheDubuque Western Rail Road Compy. of Dubuque, Iowa, Feb. 2, 1858. fs TIE BONDHOLDERS ittilO RIO' RAIL itO ////////// ik" f/f. TEN CENTS /// i7/4/1///l///ii/if.* ///1( /11 da/1611/ /WY/ (14/0 (/- (At ;11011/1//elaid.1 (1//ti'e PEREST,///Nov G i /$6.2 J. VOL. 3, NO. 4 Paper Money PAGE 83 Variety 7. Lith. of Ed. Mendel, Chicago, III., on $2.00 of Banking House of Baldwin & Dodge, of Council Bluffs, Iowa, —185—. Meau4et02 L,sk tit hien Variety 8. Lith. by Ed. Mendel, 162 Lake St. Chicago., on 10e The Illinois River Railroad Campy. of Pekin, Ill., Nov. 27, 1862. PACE 84 Paper Money VOL. 3, NO. 4 Lith.tyy Mende1,1412 Lakelit,Fkteage. Variety 9. Lith. by Ed. Mendel, 162 Lake St. Chicago., on Draft of Banking House of C. Carli, Stillwater, Minn., SOPMC News and Notices The American Numismatic Association, at its 1964 convention in Cleveland, honored two SOPMC members for their contributions to the hobby. Medals of Merit were awarded to Richard T. Hoober and Eric P. Newman. Mr. Hoober's citation read: "Your research and writing on the currencies of Colonial America has been outstanding. You have contributed regularly to The Numismatist since 1943. You are considered a true numismatist in your efforts to promote our hobby along educational, historical and scientific lines." Mr. Newman's citation read: "As founder of the Eric P. Newman Education Society for Numismatic Research, Publication and Exhibition, as speaker on the American Numismatic Association educational program in 1961, and as author of many numismatic articles over a period of many years, your work has justified the awarding of this medal. Your research articles and speeches on the 1804 dollar will not be soon forgotten." Another SOPMC member, Mr. Charles J. Affleck, has been honored by election to the office of President of the Virginia Numismatic Association for the year 1965. Did You Know That — It was not until late 1963 that Benjamin Franklin's When it comes to mismatched serial numbers on dollar Natural printing process used to print Continental Cur- bills, no one has been able to figure out which one is the rency was discovered. It went unrecognized for 226 wrong number. years. Michael B. Krom eke VOL. 3, NO. 4 Paper Money PAGE 85 The Buying Power of Foreign Paper Money By Peter Robin It is not without considerable fear and trepidation that I offer the following comments and charts to the especially knowledgeable membership of the Society. Not only does my own numismatic learning leave much to be desired, but also the current literature on foreign paper money (hereafter to be referred to as FPM) is so diffuse, if it exists at all, that even a veteran of some eight years of collecting neither knows of nor possesses some works that other more fortunate or older collectors take for granted.* The basis for this article is a somewhat disconnected pair of events: the purchase of two early 19th century Danish bank notes and a later purchase of a book en- titled On Bank Notes containing an address presented to the British Bankers' Institute on January 30, 1880, by a banker named John Biddulph Martin. The notes in question are a 1 Rigsbankdaler dated 1819 and a RD5 note dated 1835. I have often wondered what these and similar notes were worth (that is, what their buying power was) at the time of issue. Unfortunately, I still am. Money, as do stocks, varies from its par value insofar as buying power is concerned. Also, it is subject to both inflation and deflation, though generally not at the same time. Our own dollar and the pound sterling are prime examples of this fluctuation in value, yet both are considered stable currencies. Ergo, my Danish notes, issued as they were 61 and 45 years before Mr. Martin's analysis, do not necessarily bear any similarity of value to the Danish issues of the '70s. Although I must remain ignorant in this particular instance, it is not without interest to note the conversion rates which obtained at that (1880) time. In Table I can be found a general outline of Western currencies in cir- culation during the '70s. It can be seen at a glance that with the exception of Portugal (and Great Britain, of course), the monetary units of these countries had a raw value, in terms of US currency, of between 19 and 79 cents (a 31-cent average, if anyone is interested). Table II shows the situation as it was after World War I, and Table III as it is today. It seems sad but true that as per capita circulation increases, the advance is cancelled by an inevitable inflationary trend. * This fault is being lessened every week with the publica- tion of new works such as Gould and Higgie's Money of Puer- to Rico and Kadman's Israel's Money to name but two. TABLE I Country Denomination Raw Value Current Value ** Austro-Hungary Belgium Denmark France Germany Great Britain Great Britain Italy Netherlands Norway florin franc krone franc mark shilling pound lira florin krone US $0.50 .19 .28 .19 .25 .25 5.00 .19 .41 .28 US $1.00 .40 .55 .40 .50 .50 10.00 .40 .80 .55 Portugal mil-reis 1.11 2.20 Russia ruble .79 1.60 Spain *** real .05 .10 Spain *** peseta .20 .40 Spain *** dollar .99 2.00 Sweden krone .28 .55 Switzerland franc .19 .40 ** Pegging today's dollar at one-half its previous value. PAGE 86 Paper Money VOL. 3, NO. 4 TABLE II 1921 VALUES Country Denomination Austria krone Belgium franc Denmark krone France franc Germany mark Great Britain shilling Great Britain pound I lungary korona Italy lira Netherlands florin Norway krone Portugal escudo Russia ruble Spain peseta Sweden krone Switzerland franc Raw Value Current Value ** US $0.20 .19 .27 .19 .24 .24 4.86 .20 .19 .40 .27 1.08 . 51 **** .19 .27 .19 US .40 .40 .55 .40 .50 .50 9.75 .40 .40 .80 .55 2.15 1.00 .40 .55 .40 TABLE III Current Valuations Country Denomination Austria schilling Belgium franc Denmark krone France franc Germany mark Great Britain shilling Great Britain pound Ilungary forint Italy lira Netherlands guilder Norway krone Portugal escudo Russia ruble Spain peseta Sweden krone Switzerland franc Exchange Value US .039 .020 .146 .200 .250 .141 2.821 .001 .278 .141 .035 1.110 .016 .196 .232 *** The peseta became the sole unit upon the granting of the right of emission to the Bank of Spain c. 1874. **** At this time, this was merely a nominal par value. In fact, the Romanoff notes were selling at .0015 of this value, Kerensky notes went for about .0005, and the Bolshevik notes were worthless. These charts are roughly 45 years apart, and of course many changes took place between these periods. The Great Inflation is the most immediately apparent and striking example, but there are many others. World War II caused very severe upheavals in European finan- ces: Comparison of the charts shows the truly remarkable recovery that has occurred. There were changes in monetary unit and par value even in periods of relative calm. France has gone from the old to the new franc; Finland has accomplished the same thing with the maarkka; Russia has twice experimented with the tcher- vonetz ; and out of the debris of war has come the second strongest currency, the German mark. I seem to'have come a long way from the simple curi- osity that prompted this paper. Being no wiser than when I started concerning my two old Danish notes. I have, as does many a fortunate numismatic investigator, found more than I bargained for and, hopefully, profitted by the experience. Any further information with which the reader could supply me would be most welcome. BIBLIOGRAPHY Guttag Bros., Guttag's Foreign Currency and Exchange Guide, New York, 1921, 130 pp. Keller, Arnold, Paper Money of the World: Part I, Royal Coin Co. New York, 1956, 88 pp. Martin. J. B., On Bank Notes, Journal of the Institute of Bankers, March, 1880, pp. 273-341. de la Riva, Jose, Introduccion al Estudio de los Billetes, Zaragoza, Spain, 1956, 37 pp. VOL. 3, NO. 4 Paper Money PACE 81 The Relationship Between Serial Numbers and Positions By George W. Killian Al E1 A3 E3 1 80,001 329.001 400,001 20,000 100,000 340,000 420,000 B1 Fl B3 F3 20,001 100,001 340,091 420,001 40,000 120,000 360,000 440,000 Cl G1 C3 G3 40,001 120,001 360,001 440,001 60,000 140,000 380,000 460,000 D1 H1 D3 H3 60,001 140,001 380,001 460,001 80,000 160,000 400,000 480,000 A2 E2 A4 E4 160,001 240,001 480,001 560,091 180,000 260,000 500,009 580,000 B2 F2 B4 F4 180,001 260,001 500.001 580,001 200,000 280,000 520,000 600,000 C2 G2 C4 G4 200,001 280,001 520,001 600,001 220,000 309,000 540,000 620,000 D2 H2 D4 H4 220,001 300,001 540,001 620,001 240,000 320,000 560,000 640,000 Some time ago an article by the author which attempted to give the relationship between serial num- bers and positions on the one dollar bills of 1957, 1957 A, and 1957 B was printed in the Summer of 1963 issue of Paper Money. Correspondence has shown that, although the principle given was correct, the formulas given were both incom- plete and confusing. Accordingly, a chart and an im- proved technique for checking the correlation are pre- sented here. The correlation should also apply to the new $1 Federal Reserve Notes and the new $2 and $5 U. S. Notes series of 1963, which are all now printed on 32-subject sheets. Please note from the accompanying table the corrected layout for the 32-subject sheet. This layout has been confirmed by the Treasury Department. However, the Treasury Department has neither confirmed nor denied the relationship between the position and the serial num- bers because they consider such information to be re- stricted. As may be seen by careful analysis of the serial num- bers and the chart, only 25 per cent of the last 20,000 sheets appear to be used. What is done with the other 75 per cent of the sheets comprising 480,000 notes? More specifically, with a little analysis you would dis- cover that note number 99,480,001 comes from position PAGE 88 Paper Money VOL. 3, NO. 4 Al, and finally the note with serial number 99.999,999 comes from position Hl. But what about the notes from positions A2 to H4 on those same sheets? In con- nection with seeking an answer to this question I have searched for bills having a serial number greater than 99,840.000. However, I have been able to locate and examine only a very limited number of such notes and would greatly appreciate the opportunity to examine more. Particularly I would like to see any $1 note (new or used, Federal Reserve Note or Silver Certificate, star or plain) having a serial number greater than 99,840,000 that has a position indication ending with anything but the digit "1." The relationship between the serial number and the position may be checked very easily as follows: 1.) Copy the first four digits of the serial number. 2.1 Divide the copied four digits by 64. 3.) Ignore the answer except for the remainder. 4.) Write down the remainder which could be zero but can not be greater than 63. 5.) Write the last four digits of the serial number after the remainder. 6.) Compare the number obtained in step 5 with those shown on the accompanying chart. The number obtained in step 5 should be shown on the chart with the same position number as shown on the actual dollar. * The Trading Post * The members listed below are interested in trading notes. Please contact them directly if you are interested in trading. The fee is $1.00 per listing for two issues. Please note new categories. All future insertions should be sent directly to the Editor. 1. U. S. LARGE NOTES Rev. Frank H. Hutchins 924 West End Ave. New York 25, N. Y. A. L. Morsch 45 Cleveland Ave. Newark, N. J. 2. U. S. LARGE NATIONAL BANK NOTES C. R. Ross (Oklahoma Notes) 1334 East Eighth Street Okmulgee, Oklahoma M. 0. Warns P. 0. Box 1840 Milwaukee 1, Wis. 3. U. S. SMALL NOTES Rev. Frank H. Hutchins 924 West End Ave. New York 25, N. Y. M. 0. Warns P. 0. Box 1840 Milwaukee 1, Wis. 4. U. S. SMALL FEDERAL RESERVE NOTES 5. FOREIGN CURRENCY William E. Benson 3415 Cedar Springs Road Dallas, Texas-75219 Donald B. Hoge 5743 Braesvalley Dr. Houston, Tex. 6. OBSOLETE PAPER MONEY (Colonials, Continental, Confederate, Broken Bank Notes, Scrip, etc.) C. J. Affleck 34 Peyton St. Winchester, Va. Claude W. Rankin 110 Anderson St. Fayetteville, N. C. George Wait P. 0. Box 165 Glen Ridge, N. J. 7. MILITARY CURRENCY (War, Occupation, Concentration Camp and Emergency Issues) 8. FRACTIONAL CURRENCY 9. MISMATCHED SERIAL NO. NOTES VOL. 3, NO. 4 Paper Money PAGE 89 The Photography of Paper Money (II) By Barbara R. Mueller The purposes of numismatic photography are many, but from the viewpoint of the Editor of PAPER MONEY, there is but one goal: production of photographs suitable for reproduction in this magazine. Nevertheless, the other applications of photography to numismatics will be discussed, too. In fact, a general survey of the field of macrophotography is a logical prerequisite to the techni- cal course. Photography is a visual aid in the preservation, insur- ance and indemnification of paper money, in numis- matic research, in educational and promotion activities, and in the presentation of a collection. Its end-product is either a positive print or a transparency for projection made within the framework of the laws described in Vol. 3, No. 3, the Summer 1964 issue. In spite of this demonstrable usefulness, photography for numismatics is shunned by the ordinary camera fan as an over-complicated, too-expensive project. In this era of automated photography, we buy elaborate cameras to take pictures that wouldn't challenge an old box Brownie but fail to utilize the equipment in the more challenging field of macrophotography. Macrophotography The man "who takes a picture" of a note or document is engaged in either macrophotography, microphotogra- phy, or photomicrography. The last field is almost self- explanatory : it is the taking of pictures through a micro- scope. Obviously, such pictures are only extreme enlargements of very small areas, useful only to super- specialists and expertizers. Microphotography, contrary to its name, does not involve the use of a microscope. Rather, it is the repro- duction of a large object on a very reduced scale. Reading the reproduction with the naked eye is difficult, if not impossible. We became familiar with this form of photography through the wartime V-Mail service. To- day, microfilming on 35, 16 or 8 mm. film is a significant space-saving business operation. Macrophotography has more immediate usefulness for numismatics. It concerns the photography of a small object in a size ranging from one-tenth normal to 25 times normal. Some people call it copying, close-up or table-top photography. Photostating and some types of photo-copying differ from it in that the finished product is an exact copy on bromide paper made in a camera without the use of a film negative. The Camera There is no truly cheap equipment for these branches of photography. The current favorite is the 35 mm. single lens reflex camera, in which you see exactly what you are taking. With the extensive lines of close-up accessories and interchangeable lenses now available, the 35 mm. reflex seems to be the perfect numismatic camera. And indeed, if all bank notes were the size of frac- tional currency, it would be the only one to consider. However, the image of a 7x3 inch note on a 24x36 mm. film frame is so small that extreme enlargements are a necessity. With such enlargement comes the possibility of undesirable graininess of image. Therefore, many photographers turn to 4x5 press and view cameras whose film nearly approximates the size of a bank note. These rather unwieldy instruments boast of ground glass focusing that "sees-and-takes" just as a reflex camera. Fixed focus (Brownie), folding roll film, and twin- lens reflex cameras are not easily adaptable to numis- matic photography. Sub-miniature cameras, such as the Minox, can be used for copying areas as large as 31/2x51/2 inches when used with a folding copy stand. Basically, however, they are novelties. The Polaroids are novelties, too, although the better cameras in the line sometimes yield gratifying results when used with the close-up kits. The camera that gives a good 2x2 slide is the one most collectors covet, and that is a 35 mm. reflex. There- fore, the following instructions are for such a camera, but they also apply, with a few modifications, to press and view cameras: The first 35 mm. camera, the original "candid camera", had rangefinder-viewfinder focusing that is best exempli- fied by the famous Leicas. They focused down to about three feet. For close-up work, a battery of accessories and a device to compensate for parallax (the disparity between the images in the viewfinder and the taking lens) were absolutely necessary. Today's 35 mm. single-lens reflex (in which there is no parallax) is a mechanical wonder. Some of its highly touted features are useless, however, in numismatic pho- tography. For instance, the built-in electric eye exposure meters and automatic focusing are only nuisances. In our field, once you have determined the correct exposure for your set-up, there is little use for a meter again. Camera Accessories Yet no camera, 35 mm. press or view, can meet all the demands of numismatic photography without the aid of some accessories. These accessories with the bewildering names are one of the sources of confusion for the neo- phyte. He doesn't understand that although any 35 mm. camera has a relatively longer focal length than other cameras and therefore gives a larger negative image than the short-focus models, the film image must be made as large as possible to prevent unnecessary enlargement. Paper MoneyPACE 90 VOL. 3, NO. 4 That increase in image is made possible by accessories that increase the lens-to-film distance or by magnifying supplementary lenses. The lens-to-film distance can be increased by using extension tubes or bellows extensions. Tube sets usually consist of three tubes of various lengths that can be com- bined by adaptor rings to make extensions from 10 to 60 mm. Bellows are easier to use because they can be racked back and forth to obtain precise focusing. They can be used with normal, telephoto or wide angle lens. (In some applications, a telephoto lens by itself is sufficient for close-ups.) One disadvantage of tubes and bellows is the need for increased exposure (very long shutter speed or a time exposure) to compensate for the loss of light within their tunnel-like area. Moreover, they can be used only with a camera having a removable lens which can be taken from its usual position and screwed into the head of the extension device. Some 35 mm. cameras have a lens that is fixed or con- structed in components. The only recourse in this case is the supplementary lens. At one time such lenses were inferior in quality and performance to other optical accessories. After Carl Ziess introduced the Proxar lens system, the prejudice against supplementaries disap- peared. Because they can do nearly everything the aver- age numismatist is apt to attempt and are used in conjunction with modest-priced cameras, they have be- come very popular. For the more affluent collector, there are such cameras as the Swiss-made Alpa and the Japanese Nikon F that need be fitted with just one magnificent lens which does everything, right down to four inches from the subject, without additional accessories. Close-Up Equipment The camera itself, however, is only part of a working set-up. Success also depends on a practical arrangement of equipment and efficient procedures. Start with a special place to do your close-ups. It need not be an elaborate room; a corner of your bedroom will do. You can do the work in a space of 12 cubic feet— three feet high, two feet wide and two feet deep plus a place two or four feet away for the lights. Ideally, the working surface should be a little lower than desk height. On this surface you place a copy stand. Modest stands are always advertised in the photography maga- zines. Camera manufacturers usually produce stands specifically for their instruments. The cheaper but en- tirely adequate stands consist of a tubular vertical column on which slides a horizontal arm support for the camera and a baseboard similar to that of an enlarger. Goose- neck lamps can be clamped to the column. Fixed lamp supports are built into the more expensive models. This vertical set-up is preferred for numismatic work because the subject lies flat on the baseboard in front of you. Horizontal set-ups with the subject fastened to an upright easel are more unhandy but necessary when view and press cameras are used. Lighting Be sure that several electrical outlets with wiring heavy enough to carry the load of photoflood lamps are located near the stand. The best advice about lighting arrangements is: work out your own through trial and error. Electronic flash is a possibility. More esoteric is the electronic close-up ring light that fits like a collar around the lens. It is useful only when the camera is very close to the subject. Ordinary reflector-type photographic flood lamps or no. 1 or no. 2 photoflood lamps in reflect- ors do the best and cheapest job. They should, however, be connected so that they may be turned on just when the picture is to be taken and off as soon as it has been taken. This rationing minimizes the danger of burning your arms on the fiery lamps and prolongs their life. Light distribution is usually explained in bewildering scientific terms by the manual writers. In essence they mean that the lamps should be placed so that all corners of the object are equally well lighted and 25% brighter than the center. The angle between the lens and a lamp axis should be about 45 degrees. One experienced collector-photographer uses two West- inghouse BEP movie reflector lamps, one clamped to the stand column to the left and above the camera; the other clamped to a table, three feet out to the right. A Westinghouse photospot RSP-2 and a photoflood RFL-2 are identical except for intensity and beam pat- tern. Both are rated at 3400 degrees Kelvin; both are colloquially called photofloods. (Studio floods are 3200 degrees Kelvin.) Photospots give a narrow but intense 20-degree beam for spotlighting or highlighting in con- junction with photofloods, which give a smooth 90-degree beam for general flood lighting. Occasionally light from these lamps is reflected by the subject into the lens. A quick adjustment in their posi- tion controls such reflections. But light reflected from the surroundings is more difficult to eliminate. The shiny chrome trimming on the camera can be one source of reflections. They can be eliminated by making a mask of black poster board large enough to block out the camera body. Cut a hole in the center and slip the mask over the lens mount to hold it in place. If there still are some annoying blobs of light visible in the viewfinder, look to the chrome on the copy stand. Paint it black or cover it with dull black electrical tape. A polarizing filter that slips over the lens is supposed to eliminate all such reflections. It does a good job on window glass and water but is not too effective in close-up work. To correctly utilize the photographic lights, you also need to measure their intensity with light meters—at the outset, at least. First, buy a Kodak neutral density card, a simple piece of gray cardboard. Lay it on the base- board of the copy stand. Take a light reading by hold- ing your meter six inches away from the card. Using the low light scale, make a note of the recommended exposure times and aperture. Use this information as a point of departure only; you will probably arrive at VOL. 3, NO. 4 Paper Money PAGE 91 a slightly different but ideal combination by trial and error. But be sure to maintain the same conditions at all times or make new readings for every change in arrangements. Subject Preparation The final step in preliminary preparations involves the subjects themselves. They must be made to lie flat by weighting them with a sheet of non-glare picture-framing glass. They must he aligned so that the film image is not askew. To comnensate for slanting floors or slightly warped baseboards, keep a small spirit level on top of the camera and keep the little bubble in the center. Finally, the subjects must be photographed against a suitable background. The copy stand baseboard is usually too coarse in texture. Black or dark gray smooth, scratchless poster board is a good substitute. Dull, black, lintless cloths are preferred by some old pros. Film Now that your set-up is complete, the next step is load- ing the camera. Close-up work requires special film. A 35 mm. camera needs an especially fine grained film; high speed is unnecessary. Perhaps the best film for the job is Kodak Panatomic X. Kodak Micro-File gives in- tense blacks and whites but fails to bring out the nuances of the engravings on bank notes. Exposure No film can do its job without light, and light involves the hated f-numbers (aperture of the diaphragm open- ing). They have been replaced on some cameras by LVS numbers combining f-numbers and shutter speed, but most basic instruction is given in terms of f-numbers. The following combinations are representative of the system used by one photographer with a camera aided by supplementary lenses: f16 at second or f16 at 1/4 second with two BEP movie floods f22 at 1 second with one flood at the right, slanted 45 degrees These combinations avoid long time exposures (more than one second) and take advantage of the compara- tively small apertures to give a sufficient depth-of-field that assures sharp definition in all areas. Procedure When you make a set of pictures, use this mental checklist, modified to suit your equipment, as a remind- er of the necessary steps; 1. Load the camera with film. 2. Equip the camera with the necessary lenses or ex- tensions. (This step may come first if it necessitates opening the camera body.) 3. Mount the camera on the copy stand. 4. Place the subject on the baseboard with the longer dimension parallel to the length of the camera body. 5. Cover the subject with clear glass. 6. Select the f-number and shutter speed. 7. Cock the shutter now or after step 8, depending on the type of shuttter in the camera. 8. Determine the best focus on the ground glass focus- ing screen. 9. Turn out the room lights; turn on the photographic lamps. 10. Check once more on the focusing screen to see that there are no reflections. 11. Press the exposure button. or better still, the cable release. 12. Advance the film for the next picture. When all the film has been exposed, remove it and develop it in your own dark room or send it to a fine processor through your photo dealer. Do not send film to the neighborhood drug store. Load up for another round of pictures and learn by doing. Did You Know That — One billion dollars would create quite a storage prob- lem. Dollars bills stack 233 to the inch, at the rate of 2,796 to the foot. One billion bills stacked in a single pile would extend over 67.75 miles into the sky. The American eagle on the 1863-65 $50 Interest Bear- ing Note made in the United States of America when turned up-side-down is the head of a donkey. One billion dollars ($1,000,000,000) in $1 bills will circle the earth 4 times when laid end to end. It would take 134 years to pick up the billion dollars at the rate of one bill a second, forty hours a week. Not counting the serial or plate numbers, the number ONE is on the $1 Silver Certificate 26 times while it is on the new $1 Federal Reserve Note only 17 times. Binders for "The brown. Holds one VoI. No. in goId. 1964. Price: $3.75 each. dling. (7 binders, postpaid.) Numismatist". As above in years supply. Title, Date and Available for years 1958 thru Add 60c for postage and han- 1958 thru 1964 at $23.45 MAGAZINE TYPE BINDERS FOR YOUR papith mom y A high quality permanent binder in durable green Colonial grain DuPont Fabrikoid. Just place a wire in center of magazine and snap in place. (Wires furnished) HoIds six years supply of "Paper Money". Title is lettered on spine in gold. Price: $4.00 each. Add 60c for postage and handling. NORRIS BOOKBINDING CO. P. 0. Box 305 Greenwood, Mississippi (ANA #43378 - SPMC 255) (This size can be supplied without lettering. Suit- able for storage of any pamphlet up to 9x6 inches.)PREVENTS LOSS * EASY TO USE PAGE 92 Paper Money VOL. 3, NO. 4 S -Money By Michael "S-Money" may one day replace paper money in the United States and other countries. It was developed by Stanley F. Reed of Technology Audit Corporation, Washington, D. C. "S-Money" is a special nylon plastic which has many advantages over the paper money now in use. It will last 10 to 20 times longer, provides protection against counterfeiting and is completely adaptable to machine counting. This longer life would save the government 15 to 20 million dollars in printing costs. Paper money has an average life of six months, more or less, depending upon methods of handling, climatic conditions, and other factors. The cost of replacing a single bill varies from one half to two cents. An additional amount is required to destroy the retired bill. The cost of doing this really mounts up when you figure there are one and three- quarter billion pieces of paper money circulating in the United States. "S-Money" would not take up as much room as our conventional money for two reasons. First, when printed it is only one fourth the thickness of our money. Second, it does not wrinkle. Our present bills after a few weeks of handling actually take up three to five times the amount of space they occupied when new. B. Kromeke When you talk about this new money, it seems that you are talking about coins, because it is unaffected by dirt, grease, perspiration, dampness, mold or rot. You can immerse it in water over long periods. It firmly resists accidental and intentional tearing. It can even be washed and disinfected. Because of the high melting point of nylon it can survive temperatures in excess of 400 degrees Fahrenheit. The nylon would be made of a secret formula and even a casual reproduction of the material would be al- most impossible. The equipment required to employ the patented printing process would tax the skill of the most talented potential counterfeiter. Reed's proposed plastic bills would feature four identical sides, with each edge modulated, or notched, to reveal the denominations by touch as well as sight. The lowest denominations would have the largest notches so it would be virtually impossible to raise the denomi- nation. This is one of the key features of the utility of the new currency medium. It can be easily handled in vending machines equipped with extremely simple pick- up devices. CONTINUED ON PAGE 93.) VOL. 3, NO. 4 Paper Money PAGE 93 Mounting Your Paper Money for Storage and Exhibition By David Paskausky Mounting paper money in loose-leaf notebooks is an inexpensive method of storing and showing your collec- .s tion. The commercial "Bill-serts" are well known and readily available. Two of the advantages of the com- mercial Bill-serts are the ease with which you can change the order of your collection mounting and very good protection for your notes. For most of the large notes the fact that you can see both sides of the note is an advantage, too. (On the small types of currency the re- verses are identical for most of the series or show only minor changes.) Bill-serts do have some advantages. The small-size notes slip in the large-size "serts". For a neat and attrac- tive display, filler sheets of white or black heavy card- board must be placed between the Bill-sert pages so that the different notes will not be visible at the same time. Bill-serts can also be expensive; for instance, imagine mounting in numerical sequence a set of two regular and two star notes of the current one dollar Federal Reserve notes! Most college bookstores sell a clear plastic page cover or transparent folder which comes with a black insert sheet. Actually it is a clear cover for a standard 8 1/2 by 11 page. Such pages can be used in conjunction with clear photo-mount corners to mount your paper money. The note is placed on the page with mounts on three or four of the corners. No damage is done to the note, and it may be replaced by merely opening the cover and taking it from the corner mounts and slipping the replacement note into place. Labeling of the notes can be done on the inside sheet and can be changed by pasting a new label in place. Six instead of three notes may be mounted. This method has one disadvantage: the back of the note is not visible. However, this can be corrected for most types of small currency by mounting a type note in the exhibit showing the reverse. Whenever a minor change in the back takes place, such as adding the motto "In God We Trust", the new back can be shown where it first appears. Instead of photo-mount corners with the transparent folders, you can also use Philatelic Crystal Mounts in the block-of-four size which is just right to hold current small bills. This raises the cost above that of the photo- corners but gives even more protection while retaining mobility for exhibiting. Incidentally, the Crystal Mount may be used to mount stamps and makes a very impressive exhibit of your stamps on a black background. The stamps can be shown with no worry about anyone touching them, as they are doubly protected by two layers of clear cover- ing. If you do collect stamps, you can mount one note and two plate blocks in each Crystal Mount sheet with no waste, or two notes and a little waste. If you manage to ruin the black insert paper, you can replace it easily. With the Crystal Mount method, you can even show your paper money collection to your more envious friends because they will not be tempted to try to remove them as they might with the Bill-serts. For both the Vill-sert and the Crystal Mount methods, a number of loose-leaf notebooks can be used to mount different types of currency. For example, silver certif- cates can be mounted in one book, United States in an- other, and Federal Reserve notes in a third. For the old large-size currency, the Bill-sert method is better because it shows the back of the same bill. Very few of us can afford to have a large enough selection of large currency to have duplicates of each note. For small-size notes the Crystal Mount seems better. In lots of 50 the transparent page covers can be obtained for about eight cents a page, bringing the total mounting cost per page to about ten cents with the clear photo- mount corners. With the Crystal Mount the cost is from 22 to 30 cents per page. Thus the transparent folders with either clear photo- mount corners or the Crystal Mount make inexpensive and protective mounts for your small-size currency. These page protectors have a very professional look and are as easily shown as the Bill-sert pages. S-Money (Cont'd. from page 92.) While officials at the U. S. Bureau of Engraving and Printing traditionally demonstrate heavy resistance to any change in a currency product system, Superintendent Holtzclaw has told its inventor that he has no objection to "S-Money" provided it offers equal resistance to counterfeiting. Reed believes this requirement is more than met by the castprinting process his company has developed. As soon as the U. S. patent for this process is granted, he intends to press further for a change. Paper Money VOL. 3, NO. 4PACE 94 A One Hundred Thirty-Six-Year-Old Bank Note By C. E. Wismer Osmun Examining a bank note requires both attention and detailed study. While the note shown here is of great interest, the following description exemplifies the steps in studying and writing about paper money: One-Dollar—The HOBOKEN BANKING and GRAZ- ING COMPANY (opposite the City of NEW YORK). Serial Letter "A" No. 436. June 2nd, 1828. John Blakely, Pres. J. V. Cole, Cash. (pen and ink signatures) DCW No. 238. Description: Center Vignette: Franklin seated at desk, inscribed FRANKLIN, with quill pen in right hand on tablet; lightning, lightning rod and clouds in background. Below desk in miniature letters: A. B. DURAND SCp., across one-eighth inch: A. B. DURAND del. R. and L., portrait of Layfayette. Engravers: A. B. & C. DURAND WRIGHT & CO. One of the notable families of talented men, were the Durands, Engravers, Jewelers, machinists, painters and watchmakers. Asher B. Durand was one of the greatest engravers, and his art work in the form of portraits and vignettes on bank notes is visible today on the above note. He left the engraver's desk in 1832 for the painter's palette. The A. B. and C. DURAND, WRIGHT & CO., bank note engraving company, commenced business about 1824, in the old Merchants' Exchange, New York. Ac- cording to my records, it existed about eight years. The Hoboken Banking and Grazing Co., New Jersey, was chartered in 1822, and opened for business in 1823, and suspended prior to 1833. Denominations of notes issued, with the D. C. Wismer numbers 238—$1—Illustrated. 1828. 239—$1—No description (N.D.) 240—$2--Center vignette (C.V.)—Allegorical figure, Franklin portrait right and left ends of note. 1827. 241—$2—N.D. 242—$3—C.V.Allegorical figure with key, Neptune R., distant ship L., Washington portrait, R.E. and L.E. 1827. 243—$3—C.V.—Ocean view. 1826. 244—$5—C.V.—Cattle grazing. 1828. 245—$5—N.D. 246—$10—C.V.—Cattle grazing. 1827. 247—$20—C.V.—Cattle grazing. 1827. 248—$20—N.D. VOL. NO. 4 Paper Money PACE 95 SECRETARY'S REPORT New Membership Roster Dealer or No. New Members Collector Specialty 792 Raymond E. Whyborn, 748 N. San Antonio Avenue, Up- C U. S. $1 bills, Confederates land, California 91786 793 Harry Anderson, 10528 Frankmont St., El Monte, Cali- C U. S. Paper money fornia 91731 794 Henry C. Steneck, 1435 Lexington Avenue, New York C U. S. A. N. Y. 795 Alan R. MacIsaac, 45 Howard Road, Medford, Massa- C, D Federal reserve notes chusetts 02155 796 Robert H. Skadow, 6319 North Oak Park Avenue, Chicago C Old U. S. 31, III. 797 Sidney G. Radbill, M.D., 37 South 20th St., Philadelphia C 3, Penna. 798 Samuel Fish, 3119 Atlantic Avenue, Brooklyn, New York C 11208 799 John W. Hody, 6 Joseph Street, New Hyde Park, New C Early U. S. (beginning with 1861) York 11043 800 Bernard Novick, 5 Hathaway Lane, White Plains, N. Y. C U. S. 10605 801 Raymond A. Beacham, 304 Balsam Street, Liverpool, C U. S. N. Y. 13088 802 Neil J. Wimmer, 513 Oakland Drive, Burlington, North C U. S. small size notes Carolina 27217 803 W. S. Chittenden, 5 Campbell Road Court, Binghamton. C Large size U. S. currency New York 13905 804 Richard G. Bowman, 2290 South Sherman Street, Denver, C Pioneer coins and paper money (Colorado and Colorado 80210 Utah) 805 Michael B. Kromeke, 5126 Terrace Drive, Baltimore, C Errors and one of each series Maryland 21236 806 Robert C. Pickett, 18 Commerce Street, New York, N. Y. C U. S. paper money 10014 807 George F. Pollock, Jr., Route 2, Box 21, Burton, Wash- C U. S. small size notes ington 98013 808 Walter J. Randall, 2110 - 30th Avenue, Meridian, Mis- C Paper money and coins sissippi 39301 809 John B. Riley, P. 0. Box 177, Flora, Mississippi 39071 C, D 810 Mrs. Fred J. Haslinger, 839 Bay Esplanade, Clearwater C Beach, Florida 33515 811 Edward Hamerstrom, Route 3, Roscoe, New York 12776 C U. S. small size notes 812 David B. Tokazewski, 136 Overlook Avenue, Trenton, C Paper money N. J. 08610 813 Morris S. Chon, 3246 South Emporia Court, Denver, C Notes of Colorado and Western banks Colorado 80222 814 Bennett Nathanson, 95 Abbott Street, Springfield, Mass. C Recent American paper money 01118 815 Joseph T. Cicero, 1620 Woodhurst Avenue, Cleveland, C Large currency and fractionals Ohio 44124 816 Michael Dorish, 308 Grove Street, McKees Rocks, Penn- C sylvania 15136 817 Alex L. Ososky, 1331 Indian Avenue, Aurora, Illinois C Large series $1, small series $1, $2, $5 60505 818 Dr. Bartley D. Rhea, 200 West Ganzalez Street, Pennsa- C cola, Fla. 32501 819 Ronald Calkins, 124 Exchange Street, Mazomanie, Wis- C Broken bank notes—especially Wisconsin consin 820 Paul F. Jannott, Woodside Drive, Watertown, New York C U. S. $1 and $2 bills 821 Jack E. McGill, 414 Fenton Avenue, Lockport, Illinois C U. S. currency 1861 to present 822 Frank M. Stirling, 9733 Van Drive, Baton Rouge C National bank notes Louisiana Paper Money VOL. 3, NO. 4PAGE 96 823 John 0. Baas, Box 214, Hazlehurst, Mississippi 39083 C, D U. S. coins and currency 824 Alan Dee Einsel, YN3, Box 16, Clarksville Base, Fort C Kansas national bank notes Campbell, Kentucky 42222 825 Donald Stewart, 15370 Roselawn Avenue, Detroit 38, C Large size U. S. paper money Michigan 826 Wayne E. Joseph, 4428 Pearl Road, Cleveland, Ohio 44109 C Old and obsolete 827 Major William J. Pardee, 17520 Faysmith Avenue, Tor- C General rance, California 90504 828 Rex A. Weber, 1621 South Douglas, Springfield, Illinois C Small size, low denomination U. S. bills 62704 829 Edwin R. Buttner, 158 Sandwich Street, Plymouth, C South Eastern Massachusetts nationals Massachusetts 830 Harry G. Wigington, 2113 Kecoughton Road, Apt. 62A, C Obsolete bank notes (southern, northern, mid- Hampton, Va. western) 831 Adolfa Hale, B. Perez Galdos 215-2, Col. Los Morales, C Mexican, Russian, Polish and Israeli Mexico 10 D. F. 832 Mrs. R. H. Terreson, 659 Jackson Avenue, Pascagoula, C Small size U. S. currency Mississippi 833 Mrs. Bernice T. Rand, 53 South Street, Avon, Massa- C Silver certificates, small F. R. Notes chusetts 834 Dr. Paul M. Stevens, 6248 Camp Bowie Boulevard, Fort C Worth, Texas 76116 835 J. P. Donnell, P. 0. Box 652, Pecos, Texas C U. S. paper money 836 George T. McDuffie, 1611 Longbourne Avenue, Cin- C Small sized notes and gold certificates cinnati, Ohio 45230 837 Ralph M. Weaver, Jr., 842 West Chase Street, Pensacola, C U. S. currency and broken hank notes Fla. 32501 838 Calvin H. Gray, Scott, Mississippi 38772 C Small size U. S. currency 839 Robert R. Tanton, 4 Nottingham Road, Apt. 2, Little C Coins and paper money Rock, Arkansas 72205 840 Alvin Marion McIntosh, 6123 West 8th, Tulsa, Oklahoma C 74127 841 Bob Alldredge, Route 2, Floydada, Texas 79235 C $1 FRN Stars 842 Chuck O'Donnell, Route 3, Box 112, Williamstown, New C Small U. S. notes Jersey 08094 843 Martin, A. Yuriga, 333 Roosevelt Street, Gary, Indiana C U. S. currency 46404 844 John Kozma, 902 East Devonshire SP. A4, Phoenix, C Paper money and coins Arizona 85014 845 J. L. Massetti, 213 West Lancaster Avenue, Ardmore, Pa. C U. S. paper money 19003 846 George F. Powers, 145 Amabell Street, Pittsburgh, Pa. C U. S. and foreign coins and paper money 15211 847 Mrs. E. N. Olson, 1307 Forest Goode Drive, Des Moines, C State bank notes with relatives signatures Iowa 50313 848 John Nowak, 176 Montclair Drive, Rochester, New York C American (type) 14617 849 John C. Waldensberger, 408 East Lehman Street, Leba- C One dollar bills non, Pa. 17042 850 George S. Vanderwende, Dunn Loring, Virginia 22027 C U. S. $1, $2, $5 bills, also foreign coins 851 Mrs. Frances Kay, 209 East 56th Street, New York, N. Y. C 10022 852 Vernon Tyler, R. F. D. 1, Avoca, N. Y. C, D U. S. and Canadian 853 George I. Davison, 4233 North Grand, Kansas City, C U. S. notes and fractional currency Missouri 64116 854 H. Denny Schweiger, 325 Northeast 122nd Street, North C Chinese paper money Miami, Florida 855 Dr. L. G. Schrader, 219-% East First St., Independence, C National bank notes Iowa 50644 856 P. 1. Turner, 623 East Westbrook Street, West Point, C General Mississippi 39773 857 James F. Morris, 18 Boyden Boulevard, Riverside, Rhode C U. S. currency Island 02915 Paper Money PAGE 97VOL. 3, NO. 4 858 Elvis N. Pendergrass, 782 Brookfiollow Road, Nashville, C Tenn. 37205 859 Bill West, 809 West Jackson Street, Tupelo, Mississippi C, D 860 Robert L. Gardner, 2074 Juniper Avenue, Long Beach, C Small size U. S. California 90806 861 Paul M. Whisonant, P. 0. Box 296, Lincolnton, N. C. C U. S. Currency 862 Dewitt G. Prather, 1623 Lansdale Dr. Charlotte, N. C. C U. S. types, state seals on national bank notes 863 Paul Bookout, 2328 Rossville Blvd., Chattanooga, Tenn. C, D 864 Grady C. Sizemore, Sr., 11 Mallard St., Greenville, S. C. C Large size national bank notes 865 Lester Merkin, 515 Madison Ave., New York, N. Y. 10022 D 866 Melvin W. Fishel, 449-28th Ave., Venice, California 90291 C Small size U. S. 867 C. W. Hollyday, North Side Square, Paola, Kansas C, D U. S. currency 868 Simon Klatzko, 15 Cumley Street, Hamden, Conn. 06514 C, D Silver certificates & FRN i 869 Robert Joseph Castellitto, 562 East 3rd St., Mount Ver- C Small size U. S. KL non, N. Y. 870 William G. Miller, 1312 N. Vassar St., Wichita, Kansas C U. S. currency 67208 871 Wm. Floyd Dill, 146 Cottage St., Bridgeton, N. J. C U. S. currency 872 Harry Kaplan, 50 Lincoln Rd., Brooklyn 25, N. Y. C Coins & paper money 873 H. M. Rosenberg, 1209 Devere Drive, Silver Spring, Md. C D. C. notes 874 Mrs. Albert Goergens, 817 Chalfonte Dr., Alexandria, Va. C $1, $2, SC, FRN & legals 22305 875 Stanley B. Donnelly, 2 Plymouth Dr., Marlton, N. J. C U. S. coins, $1, SC & FRN 08053 876 Oren Allen, 212 Dow Street, Carey, Ohio 43316 C General 877 Hubert L. Rawlins, P. 0. Box 957, Tryon, N. C. 28782 C U. S. & CSA 878 Grant E. Anderson, 201 S. University Dr., Fargo, N. D. C U. S. types 58101 879 P. S. Bomberger, 520 Helen Ave., Modesto, Calif. 95354 C General 880 Francis C. Keith, Jenny Lane, Indianapolis, Ind. 46201 C U. S. & obsolete (especially Ind.) 881 George Hennessey, 4273-% Fulton Ave., Sherman Oaks, C U. S. currency California 2 Donald B. Hueton, 316 W. Ash St., Caldwell, Idaho C Small size U. S. 83605 883 Joe W. Sitlington, 5424 Country Club Blvd., Little Rock, C Small size U. S. Arkansas 884 Howard Lisech, 807 Maple Lane, Lebanon, Missouri C U. S. types, Mexico & Canada 5 Duane Kelley, 239 Colonial Dr., Webster, N. Y. 14581 C Small size U. S. & errors 886 Violette Weber, 7049 Rhodes Ave., St. Louis, Mo. 63123 C None 887 Wayne L. Nauka, 5731 Warwick, Detroit, Michigan C Small size S. C. & U. S. notes 48228 888 Richard A. Sara, 2861 Creston Road, Walnut Creek, Calif. C U. S. & Canadian currency 889 Harold B. Smith MD, Box 308, N. Wilkesboro, N. C. C Small size $1, $2 & $5 28659 890 H. F. McCloy, P. 0. Box 1496, Pittsburgh 30, Pa. C Paper money, proof sets, gold 891 Thomas W. Herbert, 2964 Riverside Dr., Trenton, C Michigan 892 Mrs. Judy Cahn, 856 Leonard Rd., Los Angeles 49, Calif. C U. S. type & errors 893 Wm. S. Bailey, Jr., 3232 South Yorktown, Tulsa, Okla. C 2nd charter national bank notes 74105 894 Floyd Swartzbaugh, P. 0. Box 1677, Port Arthur, Texas C, D Numismatic errors 77641 895 James Dawson, P. 0. Box 278, Sinton, Texas 78387 C U. S. coins & currency 896 W. R. Dawson, P. 0. Box 278, Sinton, Texas 78387 C, D U. S. coins & currency 897 John H. Bragg, 513 7th St., Mamou, Louisiana 70554 C Small size U. S. 898 Jim Tom Nichols, 417 N. Crosby St., Tulia, Texas 79088 C U. S. & Canadian 899 Mrs. Cassie Buckels, 253 South Fulton St., Mobile, Ala- C Small size $1 & $2 bama 36606 900 Edward Busse, Jr., 106 E. Linda Vista, Alhambra, Cali- D Silver certificates fornia 91801 Paper Money VOL 3, NO. 4PAGE 98 901 Walter M. Fischer, 105 Adams St. Suite 2022, Chicago 3, C U. S. currency Ililnois 902 Mrs. John P. Denk. Rt. #1 - Box II, Tinley Park, Illinois C Small size U. S. 60477 903 James Vernon Fitzgerald, 211 West Main St., Charlottes- C Type notes ville, Va. 22901 904 David R. Bronson, P. 0. Box 3045, Terre Haute, Indiana C Coins & currency of the world 47803 905 Thomas J. Manning, 7 Cornell Road, Beverly, Massa- C Type notes chusetts 906 Mrs. Marie Voorhees, 3439 E. 57th Place, Tulsa, Okla. C U. S. small size currency 74135 907 Glen 0. Maxwell, 439 N. Bush St., Ukiah, California C Federal reserve notes 908 Henry 0. Bruce, 1405 S. Gary, Tulsa, Oklahoma 74104 C Numismatic errors 909 Thomas D. Cooper, 720 W. 148 Place, Gardena, California C $1 & $2 notes 90247 910 Miss Rose Marie LeGros, 8133 Farralone Ave., Canoga C Small size U. S. Park, Cal. 91304 911 Howard Schein, 509 W. 110th St., New York, New York C Small size U. S. 10025 912 Alfred Bergman, 1399 N. E. 104th St., Miami, Florida C U. S. currency 33138 913 Richard B. Maglin, 2305 Shell Road Lot 95, Hampton, C U. S. coins Virginia 23361 914 Neil V. Certain, 3369 Forest Manor Ave., Indianapolis,. C, D U. S. Indiana 46218 915 Barger Kittle, 4160 Winchester Ave., Ashland, Kentucky C 41101 916 Donald E. Cooper, 6502 New Jersey Ave., Wildwood C Small size U. S. Crest, N. J. 08260 917 Mrs. Loa Burkholder, 216 High St., Bryan, Ohio 43506 C Small size U. S. 918 Karl W. Smith, 8090 Kellogg Rd., Cincinnati, Ohio 45230 C U. S. & Spanish Colonial coins small size U. S. 919 Stanley Kuberski, 45 Beekman St., Staten Island, N. Y. C Small size U. S. 10302 920 Robert E. Yarmer, 117 West 2nd St., Ellinwood, Kansas C 67526 921 Lawrence F. Fries, 510 North 8th St., Lehighton, Pa. C Coins 18235 922 William M. Caldwell, P. 0. Box 548, Medford, Oregon C General 97501 923 J. Mortimer Pugh, 1209 4th St. S. W., Austin, Minnesota C Currency & early U. S. coins 55912 924 Leo N. Hall, 1788 Algonquin Parkway, Louisville, Ky. C Large size U. S. 40210 925 M. G. Ashwander, P. 0. Box 307, Hanceville, Alabama C 926 Raymond G. Parnau, P. 0. Box 88, Homewood, Illinois C Coin & FRN 60430 927 Kenneth C. Miller, Walthena, Kansas 66090 C General 928 Robert N. Arvidson, 9669 Nita Ave., Chatsworth, Cali- C fornia 929 Dr. W. H. Aydelotte, Short Road, Fairburn, Georgia C,D Large size U. S. & Confederate 930 Richard D. Stein, 37 York Drive, Apt. IA, Highland C U. S. currency Park, N. J. 08904 931 Charles Christman, 1006 Missouri Ave., Deer Lodge, C All paper money Montana 59722 932 Frank J. Russell, 104 S. Harris St., Indianapolis, Ind. C Dollar bills 46222 933 Frank A. Nowak, 2344 Walnut Ave., Venice, California C Small size silver certificates & legal tender 90291 934 John A. Wavle, Jr., 5 Albany St., Homer, New York C Fractional, large currency 935 Walter J. Harms, 1097 Sandwick Ct., Highland Park, C $142-$5 1928 - 1964 Illinois ■IL Paper Money PAGE 99VOL. 3, NO. 4 936 A. Hawley Peterson, 488 Madison Ave., New York 22, C Gold & silver coins & silver certificates N. Y. 937 Frank J. Pivarnick, 701 East Ave., Holloway Terrace, C U. S. bills & coins also Canadians New Castle, Delaware, 19720 938 David M. O'Neal, 3119 Whaley Road, Martinez, Ga. C 30907 939 Lloyd E. Heincy, 321 Vernon, West Burlington, Iowa C $1 - $2 - $5 notes 940 Miss Peggy A. McAtee, 1548 North Towne Ave., Pomona, C Calif. 91767 941 Frank F. Sprinkle, P. 0. Bov 864, Bluefield, W. Va. 24701 C, D Sheets of obsolete currency 942 Francis H. Rundell, 5227 Woodhaven Dr., Flint, Mich. C U. S. currency 48504 943 George C. Taylor, 1829 N. Dayton St., Phoenix, Arizona C, D Small size currency 85006 Reinstated 283 Dr. Joseph S. Kopas, 9710 Rosewood Avenue, Cleveland, C U. S. and Canadian currency Ohio 44105 339 Robert E. Spiker, 124 East 59th Street, Westmont, Illinois C Military currency of World War I I 446 G. C. Terry, 103 North Maple Ave., Polo, Illinois C U. S. currency 471 R. E. Medlar, 4516 - 48th Street, Lubbock, Texas 79414 C Texas currency Change of Name or Address 31 Leonard W. Stark, 112 South Dearborn, Chicago, Illinois 60603 50 Arthur Hegel, 543 No. Vista, Los Angeles, Calif. 90036 97 Jim Grebinger, 164 N. Humphrey St., Oak Park, Illinois 60302 276 George T. Hoff, P. 0. Box 265, Fort Knox, Kentucky C, D Foreign scrip 342 Col. Grover C. Criswell, Jr., P. 0. Box 6206, St. Peters- C, D burg Beach, Florida 33736 358 Bill Halliwell, 19500 Euclid Ave., Ohio 44117 C, D 560 Homer H. Spriggs, 502 E. Sierra Madre Blvd., Sierra Madre, Calif. 565 Lt. Bernard J. Schaaf, USS St. Paul, c/o FPO San Francisco, Calif. 96601 577 David Paskausky, 925 Porter St. Waukegan, Ill. 60085 C Small size silver certificates & large and small type sets 606 Dr. D. E. Brick, 300 West 4th Mitchell, South Dakota C National bank notes, especially S. D. 678 Robert J. Gelink, 3830 5th Avenue, San Diego, Calif. C, D 92103 708 David M. Klausmeyer, 12012 Whipperwill Lane, Rock‘ ville, Md. 20852 729 Hubert A. Raquet, 11 Mount Pleasant Road, Bedford, Indiana 47421 765 Mrs. Henrietta B. Wilson, 1220 Clay St., Spotswood Acres, C Silver certificates Harrisonburg, Virginia 22801 A Warning: Altered Currency May Be on the Market Since 1957 there have been rumors about the existence of a $1 1957B Silver Certificate without the motto "In God We Trust." Now one of our members has submitted a specimen to George Killian for inspection. Mr. Killian, on the basis of a preliminary examination, concludes that the basic bill is genuine but that the motto has been removed. As soon as he completes his study, he will write about it for PAPER MONEY. Meanwhile, Mr. Killian wishes to warn the membership to be extremely wary of all such pieces of currency with so-called "missing printing." PAPER MONEY U. S. LARGE SIZE CURRENCY U. S. SMALL SIZE CURRENCY U. S. FRACTIONAL CURRENCY LIST AVAILABLE STAMP PLEASE THEODORE KEMM 915 West End Avenue New York 25, N. Y. NOTICE "A MASTER LIST OF OBSOLETE UN CUT SHEETS AND 01.0 BANK CHECKS" will be published by Jan. 20, 1965. This will be the largest listing to ever appear on the Market. PRICE $1.00. If you are in- terested in Obsolete Paper Money you will probably want this booklet. ( I WANT TO BUY) Certain UN CUT Sheets of Old Bank Checks Certain UN CUT Sheets of Broken Bank Bills. Certain UN CUT Sheets of Confederate Currency. Have many Duplicate Sheets for sale or trade. FRANK F. SPRINKLE P. 0. Box 864 Bluefield, W. Va. WANTED FRACTIONAL CURRENCY SHIELDS Please describe shield, frame, and state price in first letter. Write to: Mike G. Brownlee 1416 COMMERCE STREET DALLAS, TEXAS. 75201 A.C. 214 - RI 2-2526 PAPER MONEY OBSOLETE NOTES—singles and uncut sheets "over 200 differ- ent uncut sheets in stock" CONFEDERATE CURRENCY—price list by type number avail- able FRACTIONAL AND COLONIAL NOTES UNITED STATES—LARGE AND SMALL CURRENCY FOREIGN NOTES We don't have everything but we have helped out many a collector and we are constantly buying any kind of paper money whenever offered at a reasonable price. We do have some price lists available free BUT we would appreciate your want list by variety, city, state or country or catalog number if listed so we can serve you better. We will then quote or send on approval. we also do some business in land grants, documents, P s stock certificates, early checks, medals, politicals,stamped envelopcs, lincolnia, maps, early newspap-• ers, civil war historical material. Correspondence invited. AMERICAN GALLERY H. F. JENNE 810 EAST BROWARD BLVD., FORT LAUDERDALE, FLORIDA Phones Office 52 3-0501 Res. 52 2-3630 area code #305 WE BUY SELL AND TRADE Scarce Texas Currency REPUBLIC OF TEXAS - ISSUED FROM AUSTIN 5 1 .00 Indian Brave Left Fine 510.00 Very Fine 515.00 5.00 Indian Brave Seated Fine 9.75 Very Fine 12.50 10.00 Hercules at Left Fin-, 9.75 Very Fine 12.50 20.00 Indian Left F:ne 9.75 Very Fine 12.50 50.00 Steamship Fin, 9.75 Very Fine 12.50 GOVERNMENT OF T EXAS 10.00 Ship Left-Lamar Signature Fine 9.75 Very Fine 13.50 Houston Signature Fin‘,, 12.25 Very Fine 15.75 50.00 Sailor £7 Flag-Lamar Signature Fine 9.75 Very Fine 13 50 Houston Signature Fine 12.50 Very Fine 15.75 CONSOLIDATED FUND OF TEXAS - 1837 HOUSTON ISSUE 100.00 Criswell CF1 Very Fine 17.50 500.00 Criswell CF5 Very Fine 22.50 100.00 Criswell CF7 Very Fine 17.50 1000.00 Criswell CF12 Very Fine 27.50 AUSTIN ISSUE 100.00 Criswell CF14 Very Fine 25.00 TEXIAN NAVY NOTES - 1841 25.00 Criswell AW3 Fine 17.75 Very Fine 22.50 50.00 Criswell AW4 Fine 18.00 Very Fine 23.50 Complete set of Navy Notes AW 3 C.7 4 Fine 32.50 Very Fine 41.50 REPUBLIC OF TEXAS BONDS $320.00 Texian Loan, Criswell 36A, First Texas Bond. Signed by Stephen F. Austin Ext. Rare, small triangle cut cancel missing. Nice appearing - $112.50 $100.00 Republic of Texas, old mill at center, Very Fine 17.50 500.00 Republic of Texas, Mercury 5 - Sailor, Fine cut cancel 17.50 COUNTY NOTE CIVIL WAR UNCUT SHEET Washington County, Texas, Uncut Sheet of Four Notes, $.50, 1.00; 2.00; 3.00; Unc. Unsigned 17.50 Other Texas Items For Sale. Texas Residents Add 2°70 Sales Tax John N. Rowe III, P. 0. Box 2381, Dallas, Texas 75221 THANKS A MILLION - - - - TO ALL WHO HAVE SO HEARTILY ACCLAIMED Donlon's Illustrated Catalog OF UNITED STATES SMALL SIZE PAPER MONEY One of Hewitt's Numismatic Information Series. To quote just two, each from a recognized authority on United States Currency: FROM NEW YORK CITY: "I find it to be a masterpiece. The book far exceeds my expectations." FROM ELGIN, ILLINOIS: It fills a long standing need for data on this subject, and will be a standard reference work for many years to come." FROM COAST TO COAST; the concensus: "So much, for so little!" FROM THE AUTHOR: Although nearly two years were spent in research gathering and compiling data, develop- ing the code numbering system, and obtaining valuations from known authorities, it is to be expected that there have been omissions and perhaps errors. We hope these will prove to be minor. We want constructive criticisms and suggestions. A revised edition will undoubt- edly be published in 1965, and every effort will be made to correct any previous errors. Order your Donlon catalog today! $1.00 ppd. Your dollar never bought more. 5th edition PAPER MONEY OF THE UNITED STATES by Friedberg A must for collectors of large size U. S. Currency. The book also covers, and prices, Current Size Currency, Fractional, Encased Postage, etc. Price $12.50 prepaid. FOR THE COLLECTOR OF UNITED STATES FRACTIONAL CURRENCY MATT ROTHERT'S "GUIDE BOOK OF U. S. FRACTIONAL CURRENCY" can't be surpassed. Loaded with information on this popular series not to be found elsewhere. Price $1.00 prepaid. When not writing ad copy, magazine articles, doing research, reading the myriads of numismatic publications which arrive daily, I ALSO BUY AND SELL UNITED STATES CURRENCY ALL TYPES, SERIES, AND DENOMINATIONS. Just bought a huge collection, and would like to buy another. I might have the notes you need. Your want list will be carefully checked, and filed, if notes are not immedi- ately available. I have helped build a few prize-winning collections. Collectors of currrent size notes will find my prices well below catalog on 99% of the issues, in my latest price list. A long stamped envelope will be appreciated. No postcards please! My secretary has a bad habit of losing them! William P. Donlon P. 0. BOX 144, UTICA, NEW YORK. 13503 PHONE 315-735-2525 A. N. A. No. 4295 CHARTER MEMBER NO. 74. LIFE MEMBER No. 101 SOCIETY PAPER MONEY COLLECTORS Reference: Oneida National Bank & Trust Co. Utica, New York.