.YXXllXIIXIXX'XXx:OcXXi4'? Ei i.3 i.3 3 Eli DEVOTED TO THE STUDY OF CURRENCY ii3 Ei Ei ii3 Ei il'3 Ei l Er Ei New World Ei Ei ii3 Ei l Ei '3 Ei Ei VOL. 4 SUMMER 1965 No. 3 Ei Whole No. 15 113 Ei OFFICIAL PUBLICATION il Ei OF Eii Cociety ii Papep litone9 Collect'p41 ii3 it Eli 0 1965 by The Society of Paper Money Collectors ii S,1i i'.3 ec.X.,.X.,cLcXxix.T..x.X.xl,c.1.)z,LcnzixixXxXxXxX.xX.,c.TxXxXxXxXxXxM5 Paper )itene A GUIDE BOOK OF MODERN UNITED STATES CURRENCY by Neil Shafer Now, to help collectors meet the challenges in knowing and ac- quiring modern U. S. currency— Whitman brings you a new com- prehensive valuation catalog of all modern-size paper money from 1929 to the present. Written by paper money specialist Neil Shafer with assistance from U.S. currency authority William P. Donlon, this profusely illustrated book provides historical informa- tion and up-to-date official Bureau of Engraving totals and delivery dates for each issue. Also includes currency term guide, Donlon Sim- plified Numbering System plus currency design and printing data. Available soon $1 75 WHITMAN PUBLISHING COMPANY, RACINE, WISCONSiN WORLD'S LEADING NUMISMATIC PUBLISHERS at your hobby dealer Paper hone VOL. 4, NO. 3 SUMMER 1965 WHOLE NO. 15 PUBLISHED QUARTERLY BY THE SOCIETY OF PAPER MONEY COLLECTORS Editor Barbara R. Mueller, 523 E. Linden Dr.. Jefferson. Wis. Assistant Editor Fred R. Marekhoff, 552 Park St., Elain, Ill. Direct only manuscripts and advertising matter to 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, including a subscription to Paper Money, is available to all interested and responsible collectors upon proper application to the Secretary and payment of a $4 fee. Paper Money is not otherwise available. ADVERTISING RATES One Time Yearly Outside Rear Cover $35.00 5130.00 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 to edit copy, to require payment in advance, and to decline any advertise- ment is specifically reserved. All copy must be typed. Photographs, mats or 120-screen engravings should be furnished where required. CONTENTS Is a Rare $100 Confederate Note a Myth?, by Philip H. Chase 63 Front and Rear Plate Numbers on Current Currency, by George W. Killian 67 Spy Money, by Dwight L. Musser 69 Foreign Paper Money—New Catalogs 70 "Counterfeit" Republic of Texas Money Turns Out To Be "Forgeries," by W. A. Philpott, Jr. 71 The Ephemeral Notes of the State of Houston, by Forrest W. Daniel 73 For the New Collector—The Rewards of Collecting U. S. Paper Money, by T. Homer Brooks 75 Inflation!, by George Wait 76 Portraits on Obsolete Bank Notes II, by Fred R. Marckhofj 77 Confederate Inflation Chart, by Everett K. Cooper 78 The Allan Forbes Collection of Emergency Paper Money of the World, by Maurice M. Gould 79 Review of Numismatic Literature 80 It's in the Books, by Earl Hughes 80 The Society of Paper Money Collectors, Inc. The Trading Post 66 New Library Additions 74 Secretary's Report 81 Cociet9 of Paper money Collectors 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. 0. 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 al1111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111HE_ . E == == =Important Notice =,-== E === == Paper Money Is A Copyrighted Publication = = === = No article originally appearing in this publication, or part thereof or condensa- • tion of same, can be reprinted elsewhere without the express permission of the Editor. == E == Although your Officers recognize the publicity value to the Society of occasional re- = 1- prints. they cannot allow indiscriminate use of the material from PAPER MONEY in == other publications even when condoned by the author. Therefore, authors should =_=E contact the Editor for permission to reprint their work elsewhere and to make ar- ▪ rangements for copyrighting their work in their own names, if desired. Only in this === way can we maintain the integrity of PAPER MONEY and our contributors. E= a _ . E M111111111111111111111111111111111111111111i11111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111Th Recelvabit , ur tvmrol orall 4tues mcrept expfort tit.es it Fundable i olt161erztfe States - `,J ,yek... bearing Eight ps, oat terest illfht/lf1/0 //1/ /11 // -5i/116) /71/ *EOM TER / / VOTERS rprONIO RIESTERSETs WHOLE NO.15 Paper Money PAGE 63 Is a Rare $100 Confederate Note a Myth? By Philip H. Chase Copyright 1965 by Philip H. Chase Fig. t $100 Ceres and Proserpina note, Letter It, July 25, 1861 issue Over many years I have hoped to see or hear of a specimen of the $100 "Ceres and Proserpina" Confed- erate note of the July 25, 1861 issue with "for Treas'r" printed twice. This variety with serial letter "B" has had a respected place at least for 50 years, listed as No. 8 in Bradbeer's book, published in 1915. Specific note numbers, 3726 to 4026, were given. Such detail natu- rally added convincingly to the "status" of a $100 double "for Treas'r" note. I confess to being one of those who had accepted it as a legitimate variety. $100 notes with letters "B" and "C" and a single "for Treas'r" in the lower right corner are well-known, although the variety with letter "B" is scarce. Note (Fig. 1) the restricted space for "for Treas'r" and the almost obliterated "for" in a typical letter "B" note. These facts and the occurrence of some notes where a handwritten "for" had been added by the signer contributed creditability to the existence of a variety with a second, fully legible "for Treas'r." But years have passed without word or a glimpse of a $100 note with a second "for Treas'r." My inquiry in PAPER MONEY, (Vol. I, No. 3), brought only one re- sponse. It was from an experienced collector in this field. He was in agreement with my growing suspicion that this is nonexistent as a genuine variety. Study of various notes of the July 25, 1861 issue that were lithographed by Hoyer & Ludwig and also reference to a number of original sources have confirmed my doubts of the existence of the $100 note with "for Treas'r" twice. Reports during August 1861, from Thompson Allan, designated by C. G. Memminger, Secretary of the Trea- sury, to supervise the production of Treasury notes in the establishment of Hoyer & Ludwig, make clear that the $100 notes were in a 12-subject, letter "B" sheet. The sheet make-up was five 5's, five 10's, but only one each of the $50 and $100 values. Fig. 2 shows the lower portion of such $5, $10 and $50 notes. Various entries in the Confederate Register, Vol. 99, from late July to early September, 1861, show that the number issued of $100 letter "B" notes totalled 4.695. of the $50 totalled 4,287 and the $5 totalled 23,455 (5 x 4.691). This evidence clearly indicates that all the $100 letter "B" notes issued came from these 12-subject sheets, of which only about 4,695 were printed. Various $100 notes, letter "B," have been examined, some low-numbered, some high-numbered. All were identical and showed only one "for Trea'r." But why no $100 notes with numbers in the 3727-4026 block? Letter "B" $100 notes are truly scarce. If Brad- beer's listing is correct, only 330-4695ths (6.4 per cent of the total) would have "for Treas'r" printed twice. Therefore, on the average, the chances against finding a note in the specified number block are fifteen-to-one. Has anyone seen a note with number in the 3727-4026 block? A Report of the Confederate Treasury Department in April 1864, stated that over fifty per cent of the July 25. 1861 notes had been redeemed. Considering also loss and destruction of these frail, early Treasury notes dur- Paper MoneyPAGE 64 WHOLE NO. 15 t'11111611M1 — Mork beartm;011 47 per Vent tnl jresi ///, ,//f/ // //i1) /.1((/// ///d/ili(l/f//7> 1111 MIIIIIiMeSS It . S t n i t`S Stoc k per Cent ittleres. t ///////7// 4 -TEN DOLLARS iffelim/ m//// 4/;,;(//ibi /V-ei.REGISTER NOMA IasH. RICIMOS 1 01111Merit It` Alai es /1 'bey/ per 11 e It I MI 11•1 t•S-I - St", k hearing r.iitnt Il , /// //a/ /( _47//4/ _ n FIVE DOLLARS /b. 4m, m//// !!.;''// ki/ , - B Fig. 2. $50, $10 and $5 notes, Letter B, July 25, 1861 issue (lower positions) ing the War and the subsequent century, any notes with numbers in such a small range which have survived must be extremely scarce. For the foregoing reasons it would not be surprising if none in the 3727-4026 block has yet been discovered or recognized. Such numbered notes could give conclusive evidence of the existence or non- existence of the alleged double-printed "for Treas'r." Let us turn to other considerations that support the nonexistence of the $100 note with "for Treas'r" printed twice. Based on notes examined and the firm evidence that all the $100 letter "B" notes originated from a single sheet position, the printing of double "for Treas'r" notes would require, after an initial press run of 3,725 sheets, the entry of a second "for Treas'r" in the $100 design on the lithographic stone, a run of 300 sheets, then erasure of the same "for Treas'r" followed by the final run of some 670 sheets. No evidence of such an unlikely entry and its later erasure has been detected in examining several notes numbered higher than 4026. Should we accept the conclusion that a $100 variety with "for Treas'r" printed twice is only a myth? Surely, legitimate existence can be established only if such a note appears which shows no evidence of alteration or forgery when subjected to close. expert scrutiny. Several of the entries on page 14, Vol. 99 of the Con- federate Register add valuable evidence and may offer a plausible explanation for a supposed $100 letter "B" note with "for Treas'r" printed twice. Figure 3 is a photo- graphic reproduction of the top and bottom portions of the Register, page 14. The intermediate entries have no bearing on our inquiry. At the bottom are entered the 300 notes numbered 3727 to 4026 of the $100 value, letter "B". These are the same numbers, except for a discrepancy of one, that are given by Bradbeer under his Variety No. 8—"for Treas'r" printed twice. Four lines above the $100 note entry is entered a block of 800 of $20 notes, Nos. 8781 to 9580, letter "B". On this same line, to the left in the column headed "In Whose Favor," appear the significant words: "For Trea- surer—For Treasurer." Twenty dollar notes with "for Treas'r" printed twice, with numbers in this block, are known, as is also the case for the 9581-9980 block on the following line. One such $20 note is illustrated in Fig. 4. The notation "For Treasurer—For Treasurer" applies definitely to both these lines. But does "For Treasurer—For Treasurer" apply to any of the Register lines below, particularly the bottom It Eli I ST E OF TREASURY WITS, ISSUED UN DER AM' I /I,' ..,:_.//,‘Kry 4 4.440400 . 0#10.44 Fig. 3. Page 14, Vol. 99, Confederate "Register," top and bottom portions tOCCIViii,le (It p,stIsI•111 °•ail 4#1.0$1 , 10., 1#1 fi•cl,rt i. otli.clern le Sla les .117 per rent mteresi Stock ivaritts- ridtif //7/////./// TWENTY DOLLARS 1//(//iNi N( /(/ ///// ?,; / ./"(k) /-A47/1 t I 1 1.N II. Rlt 11,14,1 / K 011,11,11 " .../arar.se,0 7 • lJ • it ar • ...4Z7e fe 4,144.• s. e aterd.4e (14- 151te' /14 , .• Av. 0 ..."0 +4, .4 4- V 4 A 1.111r OR,79, • .4.4 4 'J.* 4, a74.7 iilko sr V ow; ...44 Fig. 4. $20 Square Rigged Ship note, Letter B, July 25, 1861 issue, variety with "for Treas'r" twice 0..4' Arlo o.v.led,resi116NOXIICATIO11. All#WWT aggs...4 /61•44, NCR A It I. N91 %MAL FAVOR. DATIL # W#13111VaTs tocriatnersy. ar#.4.01$ C<! 4e- X011:4 LIWTRI). *mast is hound a lb* Waist*.■■■ .••■ MA. 4... 4.1. ••••• - •-2: / me,/ 411. 4,1 V AS, e- PAGE 66 Paper Money WHOLE NO. 15 line which lists that block of 300 of $100 letter "B" notes? The two intermediate lines list: Nos. 17986 to 18985 $5 notes—letter "B" Nos. 3737 to 4026 $50 notes—letter "B" These notes without doubt came from the same 12- subject sheet as the $100 notes, letter "B." No one has claimed the existence of notes of these two denominations with "for Treas'r" printed twice. I do not recall seeing any numbered in these particular blocks. Has anyone else seen such notes? Lacking evidence of their exist- ence, it seems reasonable to conclude that the notation "For Treasurer—For Treasurer" is not applicable to them. Surely, it is far less likely that the notation applies to the $100 notes listed on the next line below. But how could such a bogus variety of the $100 note have achieved respectability? I offer a possible explana- tion of the mystery: Many years ago a hoax-loving collector or an ambi- tious forger added a second "for Treas'r" to some of the $100 notes. Such a variety seemed quite reasonable because $20 notes with the double "for Treas'r" were known. Perhaps the Register entries discussed above were cited and the existence claimed for similar $5 and $50 notes. Collector acceptance was gained for the $100 variety and it was included in Bradbeer's book published in 1915. However, soon afterward the hoax or fraud was discovered and the altered notes were quietly sup- pressed. * 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. I. U. S. LARGE NOTES 2. U. S. LARGE NATIONAL BANK NOTES 3. U. S. SMALL NOTES Harry M. Coleman P. 0. Box 3032 Tucson, Arizona 85702 J. F. Eckman 1370 Bertha Ferndale, Mich. 48220 Hubert A. Raquet 11 Mount Pleasant Rd. Bedford, Ind. 47421 6. OBSOLETE PAPER MONEY (Colonials, Continental, Confederate, Broken Bank Notes, Scrip, etc.) C. J. Affleck 34 Peyton St. AVinchester, Va. Lewis K. Ferguson 703 N. Woodworth St. Algona, Iowa 50511 Claude W. Rankin 110 Anderson St. Fayetteville, N. C. 7. MILITARY CURRENCY (War, Occupation, Concentration Camp and Emergency Issues) 8. FRACTIONAL CURRENCY 4. U. S. SMALL FEDERAL RESERVE NOTES Alfred C. Werner Bill Shaw P. 0. Box 114 1764 Blaine Lane Miami, Fla. 33156 Decatur, Ill. 62521 5. FOREIGN CURRENCY 9. MISMATCHED SERIAL NO. NOTES WHOLE NO.15 Paper Money PAGE 67 Front and Rear Plate Numbers on Current Currency By George W. Killian The number of the plate from which the face of a specific bill was printed is marked on the bill in the lower right-hand corner of the face. In a similar manner an indication of the rear plate used is printed towards the lower right corner on the obverse of the bill. The letter which precedes the front number is NOT part of the front plate number. If you examine a group of late dollars from the 1957B series and some of the new $1 Federal Reserve Notes, you will discover that all have rear plate numbers of the order of 400. Some of the Silver Certificates will even have plate numbers higher than those on some of the Feds. This results from the simple fact that the backs were identical and there was no need to provide new plates. Indeed, with a little luck you can find a Silver Certificate and a Fed with identical rear plate numbers. As a general rule it appears to be the practice to start a new series of plate numbers when there is a change in the basic design of the bill. For example, a change in the series year generally signals a design change and also starts the numbering of the plate numbers from number one. Many examples can be cited. For example, the $1 of 1935 had both a front and back which differed from the 1934, and therefore both plates started with new plate numbers of one. These plate numbers increased slowly through the 1935H series and got to numbers of several thousand. In a similar manner there was a change in the $2 de- sign between the series of 1928G and the 1953. Accord- ingly, the numbering of the 1953s started over with front plate number one. The rear plate numbers continued from the old series, as there was no change in the rear design. However, examination of the face of any $1 from the 1935 to- 1935H series, and one from the 1957 to 1957B series will not reveal a significant change in design. Yet the face plate numbers started from one (1) on the 1957s. Actually there was a minor change. Rev. F. H. Hutchins wrote an article entitled "Minor Varieties in the Small Size Notes" which appeared in the Fall 1962 issue of PAPER MONEY and which outlined the principal differences. The differences arose not so much from a desire to change the design as from an automatic change due to differences in production techniques. The 1935 series was produced on flat plate presses, while the 1957s were produced on new high-speed rotary presses. Ac- cordingly, the presses and plates were entirely different and the new front plates for the 1957s were assigned a new series of numbers starting with number one. The backs of the dollars of 1957 had a design change in the addition of the motto "IN GOD WE TRUST." Thus the rear plates were also given new numbers for both reasons. However, the dollars of 1935G were modified to add the motto on the back without changing either the series or starting the rear plate numbers from one (1) again. The highest rear number 1935G I have seen without motto is 6766, and the lowest number with motto is 6792. It would be interesting to know the exact changeover point. In a similar manner the backs of the 1935D's were modified without a renumbering of the rear plate num- bers. See the article by the author in the Spring 1964 issue of PAPER MONEY entitled "The 1935D $1 Silver Certificate." The highest rear plate number on a 1935D with the old style back and the lowest rear plate number on one with a new style back which I have seen are 5010 and 5036, respectively. (These bills, incidentally, are by the courtesy of member Larry Young). Now we have $2s and $5s in U. S. Notes with the motto added on the back. Such notes are designated series of 1963. Examination of the new $2s and $5s will reveal that both the front and rear plate numbers are from a new numbering series. These new bills, with the motto, have been produced on the new high-speed rotary presses. Indeed, the use of the old flat plate presses seems to be coming to an end, at least for low denomination bills. The $1 1935H's were the last of the dollars to come from the old presses. Five and ten Federals series of 1963 with the motto and made on the new presses have been released. Higher denomination bills with the motto are scheduled for pro- duction. I cannot state which presses will be used, but I would presume they will be the new rotary presses. The $5 and $10 Silver Certificates of 1953B were pro- duced on the old presses. Up to at least the spring of 1964 visitors to the Bureau of Engraving and Printing in Washington, D. C., were shown only the old presses. An inquiry about new presses brought only the answer that there was some experimenting with new presses. And at that time I would estimate the rotary presses had produced 95% of the one dollar bills then in circulation! It was evident that the guide was not informed on these matters, and no useful information was obtained. There is another way of determining which presses were used in the production of a specific bill. Each bill carries a notation indicative of its original location within the original sheet. The flat plate presses produced 18 notes to the sheet while the rotary presses produce 32 per sheet. A single letter is used to locate a bill in the 18-subject sheet. The locating letter, which may be A to R, is printed on the face of the bill in the upper left hand corner. A letter followed by a digit is used to locate a bill in the 32-subject sheet. The locating indicia may have one of the eight letters A to H followed by one of the digits 1 to 4. The layout of the 32-subject sheet was PAGE 68 Paper Money WHOLE NO. 15 indicated at the end of the article relating to the $1 of 1935D cited above. The notes in an 18-subject sheet are arranged in three columns of six each reading from top to bottom and left to right A to F, G to L. and M to R, respectively. For the layout of the 32-subject sheet a typographical error was made. The top of the third column should read A3 (not A2 as printed). One may well ask the reason for the plate numbers and positions on the notes. The following is my own supposition which I believe to be logical: The Bureau of Engraving and Printing does not want to release any defective bills and has a careful inspection system to detect any errors. As you know, defective bills are re- placed by star notes. The defects may come from any such causes as folded or defective paper, smudged ink, off-center cutting, etc. Some of the other causes could be damaged or badly worn plates. In these last named cases the errors would repeat with each impression, and the inspectors would want to be able to identify the damaged or worn plate and /or position. Because of the identifying marks on each bill it is possible to iden- tify the source of the error and take corrective measures. With this reasoning I think we can assume that when we find a single (or a few) star notes in a package the error bill (s ) were produced by ink smears, etc., i.e. errors that did not relate directly to the plates. But since the new presses are high-speed presses, it is probable that many, even hundreds or thousands of consecutive notes will be produced before the error is detected when there is a flaw or damage in a plate. The flaw or damage may affect only one of the thirty-two positions. In such a case all the defective notes would be destroyed and re- placed by star notes. Accordingly I believe that large runs of star notes result from defects in the plates. Indeed it is quite possible that one position of a 32- subject plate may be hopelessly damaged and yet the plate may be continued in service, as it is cheaper to get 31 good notes out of 32 than to replace the plate. In this situation one might find hundreds and hundreds of consecutive star notes. It is submitted that there is evidence to support this theory. Consider the new $1 Feds: When they were first released the plates were all new (at least the front plates), so the only defective bills were the few with folded paper, etc. Thus there were relatively few star notes. And we all know how much trouble we had locating the stars at first. But now the plates are getting old and worn, and many collectors have found full bundles of star notes. Incidentally there is also some evidence that some plates are "retired" from service before they see any service. More specifically, if this is true, I would pre- sume that something happened during the production of the plate which made it unfit for service. It is difficult to say for sure that this has happened, but fellow society members Nathan Goldstein and Ed Hamerstrom have searched for special plate numbers with no success. This experience would tend to support the theory that some plates never see any service. There is another area of interest with respect to plate numbers. If you will examine the plate numbers on a recent $1 Silver Certificate (not a Federal Reserve Note), you will notice that the front plate number is consider- ably higher than the rear number. This seems a little hard to account for when one remembers that the 1957s started with front and rear plate numbers of one. Why should front plates require more replacement than rear plates? It doesn't seem logical to presume that the Bureau can't get substantially the same number of im- pressions from both front and rear plates (although there is some evidence that front plates do give more impres- sions than rear plates). I suggest that front plate num- bers are higher because our currency is printed first on the face, defective sheets are eliminated, and then the rears are printed. If this is the case, it means that more faces are printed than rears; therefore, it is perfectly natural to find that more face plates than rear plates are required. Based on the number of $1 Silver Certificates made and the number of rear plate numbers which appear to have been used, it would seem the Bureau gets approxi- mately a half million impressions per rear plate. Study and consideration of the above subjects has given me a great deal of information concerning my hobby and has served to generate considerable corres- pondence which resulted not only in additional informa- tion but in mutually profitable exchanges of currency for myself and my correspondents. WANTED OBSOLETE PAPER MONEY (Bank Notes, Script, Warrants, Drafts) of the AMERICAN WEST Oregon, California, Idaho, Nevada, Arizona, Utah, Mon- tana, New Mexico, Colorado; Dakota, Deseret, Indian, Jefferson Territories! Cash paid, or fire Obsolete Paper traded. H , ve Proof notes from most states, individual rarities, seldom seen denominationals, Kirtlands, topicals; Colonial, Continental; CSA, Southern States notes and bonds. Also have duplicate Western rarities for advantageous trade. JOHN J. FORD, JR. 176 HENDRICKSON AVE., ROCKVILLE CENTRE, N. Y. WHOLE NO.1 5 Paper Money PAGE 69 Spy Money By Dwight L. Musser This writer does not presume to have read everything in the numismatic press pertaining to foreign paper money. However, for the past 12 years, he has attempted to scan the general numismatic periodicals for informa- tion on the subject and has read with more care all of the English language journals devoted to this specialty. But information about this subject is where one finds it and sometimes it occurs in unexpected places. An example is a book by Stanley P. Lovell, Of Spies and Stratagems (1963. Prentiss-Hall). Dr. Lovell served as Director of Research and Development for the Office of Strategic Services (O.S.S.) during World War II. In this position it was his duty to encourage the conception of any plan and to supervise the preparation of any de- vice which could in any way do harm to the enemy's capacity to wage war. This work was carried out with the utmost secrecy, and it was only with the publication of the book that many of the highly classified plans and devices were disclosed for the first time. The O.S.S. was concerned with underground and be- hind-the-scenes activity. They, in a sense, carried out a separate war while the conventional military establish- ment was waging the open struggle. This was a no-holds- barred enterprise. Anything, no matter how sinister, devious or destructive, which could harm, confuse, under- mine or harass the enemy, was plotted and, if possible, carried out by the O.S.S. The narrative is entertaining, enlightening and often chilling. But what has this to do with numismatics and the quest for information about foreign paper money? Wars inevitably contribute to numismatics. War is total if it is to be most effective. The totality of it en- compasses economics. and economics is concerned in- trinsically with money. Money in turn provides the raw material for numismatics. Sabotage was the daily fare of the 0.S.S. Sabotage frequently involves ingenious explosive mechanisms. but money, more accurately counterfeit money, can prove to be as disruptive as a blown up-railway bridge or a shattered headquarters building. At least this was the theory which led. according to Lovell, to the employment of counterfeit money against the enemy in World War II. Prior to the publication of Lovell's book some very meager information suggested that the United States had produced counterfeit Japanese occupation money for the Philippines. But this had not been substantiated openly by any highly placed government official. This book, however, tells the story from the standpoint of Dr. Lovell's role in it. Chapter Two, with the title "Schemes and Weapons, " has many passages of more than passing numismatic interest. The author begins by explaining the necessity of setting up a plant to produce forged documents, in- cluding money. and proceeds to tell how this was accom- plished. It is interesting to note that this enterprise had the tacit approval of the Treasury Department and the Secret Service although Dr. Lovell knew that both would deny any complicity if his activities had been exposed. The implications are that counterfeit paper money was produced for agents operating in various countries. The specific countries are not listed. Special mention is made of Japanese occupation money for the Philippines, which presented a particularly difficult problem in that the paper required fibers available only in Japan. Fortunately a stock of paper was located in the United States which contained these special fibers (p. 26). It is at this point, which is one of several, that one wishes the author had been more explicit, if not more accurate. Mention is made of the "banana tree engrav- ing" as being difficult to duplicate. This would indicate that notes of the first issue were being produced. The statement that "the issue had several color engravings" is somewhat ambiguous (p. 27). A most perplexing statement is one that states that "all Japanese money in the Philippines was surcharged or overprinted to identify the particular city or district in which, alone, it was valid as money" (p. 27). It is certainly not true that all Japanese occupation notes had a city or district overprint. This writer has examined many, many thousands of such notes and has never come across such a marking. It is possible that such a proce- dure was followed in some localities and that examples of overprinted notes may yet come to light. Dr. Lovell tells how a large cargo plane load of his "funny money" was "surcharged in direct proportion to the last population census" and dispatched to General MacArthur. According to Lovell. attention to such de- tails as the kudsu and mitsumata fibers, inks of proper fluorescence under ultraviolet light, and secret markings prevented the Japanese from detecting the counterfeits. It is stated that MacArthur commended the work. which made the reoccupation of the Philippines a reality (p. 27). The book reports that Japanese occupation money for Java and Sumatra was also counterfeited. A more de- tailed discussion is given of the production of spurious Maria Theresa thalers for which the "Indonesians would do anything and everything." It is here that one finds the startling description of a Maria Theresa thaler as a coin "about the size of a twenty-five cent piece" (p. 28). At any rate, the O.S.S. men produced their thalers, ironi- cally with the proper genuine silver content. What eventually happened to these honest counterfeits the author does not profess to know. A somewhat delicate problem arose concerning the counterfeit Dutch East Indies currency. What would happen at the end of the war when it became "necessary for the Dutch Government to call in all of the occupa- tional money and exchange it for Dutch gulden notes"? PAGE 70 Paper Money WHOLE NO. 15 Would the United States have to reimburse the Dutch for whatever American counterfeits had been circulated? The author manages somehow to treat this subject with a straight face and considers it no mean diplomatic ( ? ) victory when the Dutch are finally persuaded to not hold the United States financially responsible for redemption of the counterfeits. These are some of the numismatic sidelights in the story about spies and stratagems. An appraisal and sum- mary would seem to be in order. But to accomplish this without tongue-in-cheek would require a jaw bone of considerable rigidity. At best, one can hope that no unwarranted epidemic of insomnia sweeps numismatists as they contemplate their carefully arranged collections and ponder the possi- bility that their foreign paper money may not be so foreign after all, and their Maria Theresa thalers may have no royal genealogy. Foreign Paper Money - New Catalogs WORLD WAR II ALLIED MILITARY CURRENCY, 1965 second edition BY RAYMOND S. TOY Collectors hunting for a manageable area of foreign paper money would do well to consider the notes issued by the Allied military powers in World War II. They range from U. S. military payment certificates to invasion and liberation notes to the Free French government issues for various French colonies. According to Mr. Toy's catalog there are nearly 500 major varieties in this area, excluding Philippine guer- rilla notes. All types are illustrated and valued in his very useful work. Supplementary notes provide informa- tion about dates, printers, usage, etc. Author Toy's interest in his specialty grew out of childhood stamp and coin collecting. When the Hawaiian overprint notes were issued, he began collecting paper money. His research activities embraced much corre- spondence with the Bureau of Engraving and Printing. Mr. Toy was given permission to utilize the earlier work done in this field by A. J. Swails. The first edition of the Toy catalog, totaling 1,500 copies, was issued in September 1963. A printing of 3,000 was ordered for Canadian Chartered Banks Major Sheldon S. Carroll, curator of the Bank of Canada's numismatic collection, calls attention to minor inaccuracies in the list of Canadian chartered banks found on Page 49 of the Spring 1965 issue. There are eight chartered banks in operation in Canada at the present time (instead of nine). They are: Bank of Montreal; The Bank of Nova Scotia; The Toronto- Dominion Bank; La Banque Provinciale du Canada; The Royal Bank of Canada; Canadian Imperial Bank of Commerce; Banque Canadienne Nationale; Mercantile Bank of Canada. Barclays Bank was absorbed by the Imperial Bank of Canada in 1956. The Canadian Bank of Commerce and the second edition. It is available for $2 from the author at 992 Hacienda Dr., El Cajon, Cal. 92020. (BRM) JAPANESE INVASION MONEY BY ARLIE R. SLABAUGH (Published by Hewitt Bros., 7320 Milwaukee Ave., Chicago, Ill. 32 pages, illustrated, heavy paper bound, price $1.00) This catalog, which is now in its second edition, is by the well-known paper money collector, Arlie Slabaugh, who is also one of our Society's board members. The catalog lists and prices the Japanese invasion notes of World War II for the Philippines, Malaya, Dutch East Indies, Oceania and Burma. Included are lists of code letters and plate numbers used on the notes, plus propa- ganda issues, and much other useful background in- formation. Fake overprints are also described. This is a very useful catalog for anyone owning speci- mens of Japanese invasion money. Although the bulk of it is common, some of it is surprisingly rare and valuable. FRED R. MARCKHOFF the Imperial Bank of Canada amalgamated in 1961. The Mercantile Bank of Canada opened for business in 1953. Research Project Some time ago member Larry Young began an original research project on the scarce 1928 C, D and E one dollar notes. No longer able to pursue it because of the press of studies for the ministry, he has turned over his records to Thomas Herbert, Secretary of the Michigan Paper Money Collectors and also a member of SOPMC. Mr. Herbert, through his associate, Richard Hood, asks that any collectors owning these notes send the serial numbers, front and reverse plate numbers and a description of condition to him at 2964 Riverside, Trenton, Michigan. WHOLE NO.1 5 Paper Money PAGE 71 "Counterfeit" Republic of Texas Money Turns Out To Be "Forgeries" By W. A. Philpott, Jr. No matter how cheap money gets, there are those ready to issue it illegally. In the early 1920s, when European countries were the victims of inflated currencies when it took 10,000 marks to carry a letter of average weight, when 20,000 francs were necessary to buy a bus ticket, when a loaf of black bread cost krona enough to fill a bushel basket, there were those who counterfeited these almost worthless pieces of paper. Back in ancient Greece and Rome, when money became cheap because it was plentiful, the rulers themselves debased their own coins with cheaper metal. Those who have studied the fiscal history of Texas remembered that in the early 1840s the paper currency of the Republic of Texas was inflated by those heading the Government till the Republic's promissory notes, pretty lithographed ones, passed as low as 4 cents on the dollar. Barter was the favorite pattern of commerce, and whenever the Republic's paper money was accepted it was a most reluctant medium of exchange. Still, even with the demand for the paper money of the Republic at such a low ebb, there were thousands of dollars put into circulation by unauthorized and unscrupulous persons. So many "spurious" notes were in the channels of commerce and trade in 1840 and 1841 that the Secretary of the Treasury, James H. Starr, issued a warning letter to all county treasurers (Revenue Officers) in the Re- public to beware of the "counterfeits," to hold all notes of certain dates and denominations and send them in to be passed upon by the Treasury authorities, as to their genuineness. Many of these "bad" notes were discovered by the eagle eyes of the Republic of Texas Treasury workers; and in each instance the word "counterfeit" was written across the note. Here is the Starr letter: Republic of Texas Treasury Department Office of Commissioner of Revenue Austin, June 3rd, 1840 Sir: As a considerable amount of the engraved blanks for Promis- sory Notes of the Government, of the denominations $5's, $10's, $20's and 850's were stolen from an agent who was bringing them from New Orleans to this city in March last, and have subsequently put in circulation with forged signa- tures, which in some instances are difficult of detection, it is conceived advisable to request all Revenue Officers to cause those from whom bills of those denominations may be re- ceived to endorse on each a statement of such payment, signed with their own hands. The following form of endorsement is recommended to County Treasurers: viz "Passed to A B (County Treasurer) in payment of Licenses (signed) C D" The Bills thus endorsed should not be again put in circula- tion by being given out in change or otherwise, but be retained in the hands of the Treasurer until paid over to the Treasury Department, when their genuineness will be tested. I am Very respectfully Jas. H. Starr Secretary of the Treasury These "counterfeits" have puzzled numismatic stu- dents for several generations before Secretary Starr's letter came to the attention of collectors.* A minute comparison of the "counterfeit" with the genuine note shows no differences—same plates, paper, lithography, measurements, all identical. There can be noticed a slight variance in the signatures of Secretary Starr and President Lamar (the latter always written by Wm. G. Cooke, stock commissioner). And the figures in the dates and serial numbers are widely different. But no man writes his own name identically, day in and day out. The letter above explains it. These notes were the work of Rawdon, Wright, Hatch and Edson, New Orleans lithographers. The signature lines, spaces for serial numbers and the date of issue were left blank for the issuing officials in Austin. A shipment of these notes was stolen enroute from New Orleans to Austin, as pointed out in Secretary Starr's letter. They fell into the hands of good penmen who duplicated the signatures well enough that the Treasury officials had to pass on the falsity or the genuineness. So, all students of numismatology who have been com- pletely puzzled by these notes marked "counterfeit" may now be informed that they are not counterfeit—but they are "forgeries." And today, every complete collection of these old treasury notes of the Republic of Texas contains one or more of these notes marked "counterfeit," which, in truth, are genuine notes with forged signatures. * Letter, from W. A. Philpott, Jr. collection of early Texana. Illustrations of genuine and so -called "counterfeit" notes on following page Paper MoneyPAGE 72 WHOLE NO. 15 ,)tivoitntiolia (-- AIR" ye. 51-Treas. GENUINE REPUBLIC OF TEXAS $20 PROMISSORY NOTE This note was properly issued by officials of the Government, bearing the date, serial number and signatures legitimately executed. These notes were lithographed on stone by the firm of Rawdon, Wright, Hatch & Edson, New Orleans. Blank spaces were left for the serial number, the date of issue, the name of the Secretary of the Treasury and the President. These unsigned notes were shipped from New Orleans to Austin by an overland agent. THE SO-CALLED "COUNTERFEIT" $20 PROMISSORY NOTE Treasury officials, Republic of Texas, have marked this as a "counterfeit" (across the face). Presumably it is one of the notes secured by theft and with forged signatures. The forgery is so clever that it required Treasury official scrutiny to discover it. The note is genuine, but the issuance (with forged signatures) was un- authorized--so it is marked "counterfeit," when the marking should have been "forgery." WHOLE NO.15 Paper Money PAGE 73 The Ephemeral Notes of the State of Houston By Forrest W. Daniel "When Alabama seceded from the Union in 1861, Win- ston County remained loyal to the United States and in turn seceded from Alabama. More than that, its citizens headed by Ed Payne, set up what they called the State of Houston and elected him governor. Payne's first act was to establish a bank, issue money—pieces of brown wrapping paper upon which he wrote promises to pay— and circulate it as legal tender. Perhaps the most re- markable thing about the whole affair was that every piece of this money was eventually redeemed, dollar for dollar. "But the State of Houston soon passed away. . ." That quotation appeared in an article, "Forgotten American States," by Elmo Scott Watson. It was part of the service of boiler plate or ready-print supplied to hundreds of weekly newspapers by the Western News- paper Union about 1929. A letter of inquiry to the Department of Archives and History of the State of Alabama brought reference to the book. Annals of Northwest Alabama, by Carl Elliott, and mention that much had been written on the subject of the secession of Winston County, but that not much could he proven of the many traditional incidents. Winston County was a remote area of northwestern Alabama, far from railroad and water transportation. It was not in the cotton belt. The land was hilly, even mountainous, and the people of the area were more closely related in temperament to the hill people of east- ern Tennessee than to the plantation owners of the South. The people were poor but independent. There were only 14 slaveholders in the county, with 122 slaves. Fewer than five per cent were slaveholders in 1860. Winston County had been Democratic from its begin- ning to 1861. The people were Jacksonian Democrats; to them the Constitution of the United States was in- violable; they felt the slavery question must be solved without dissolution of the Union. The Democratic party was divided during the cam- paign of 1860. Southern Democrats bolted the party after failing to gain control of the convention. Stephen Douglas of Illinois became the nominee of the northern wing of the party, while the southern Democrats nomi- nated John C. Breckinridge of Kentucky, a slaveholder. Winston County supported Douglas, but Abraham Lin- coln, the Republican candidate, was elected president. The belief that the problems of the South could be solved by secession from the United States took firm root in the southern states after the election, and secession con- ventions met. An election was held in Winston County on December 24, 1860, to elect delegates to the secession convention to be held in Montgomery in January. Chas. C. I Chris) Sheats was the candidate of the Jefferson- Jackson Democratic group. He pledged that if elected he would "vote against secession, first, last, and all the time." Sheats was elected and voted against secession. The convention voted to secede from the Union on Jan- uary 11, 1861, by a vote of 61 to 39. The action of the convention was disturbing to many of the people of Winston County, so about the first of June, 1861, a number of prominent citizens met at the county seat, Houston. Plans were laid for a "mass meeting" to be held July 4 at Looney's Tavern, a central point for Winston, Fayette and Marion Counties, to de- cide what action should be taken. Six men rode throughout the area for six days to pub- licize the meeting, and more than 2,500 attended. Chris Sheats was the principal speaker and gave his report on the convention. A resolutions committee drew up a number of resolutions, which are given in summary: 1. Commending Chas. C. Sheats, and others who stood with him, for loyalty and fidelity to the people they represented in voting against secession first, last, and all the time. 2. We agree with Jackson that no state can legally leave the Union. But if we are mistaken in this, and a state can lawfully and legally secede or withdraw, being only a part of the Union, then a county, any county, being a part of the state, by the same process of reason- ing, can cease to be a part of that state. 3. We think the South made a grave mistake in bolt- ing the party, resulting in the election of Mr. Lincoln, and made a greater mistake in attempting to secede and set up a new government. However, we do not wish to see our neighbors in the South mistreated, and there- fore, we are not going to take up arms against them; but on the other hand we are not going to shoot at the flag of our fathers, "Old Glory," the flag of Washington. Jef- ferson and Jackson. Therefore, we ask both the Con- federacy and the Union to leave us alone to work out our political and financial destiny here in the hills and mountains of northwestern Alabama. On reading the second resolution, Uncle "Dick" Payne, one of the few Confederate sympathizers present, sitting in the audience remarked, "Oh, oh, Winston secedes! The Free State of Winston!" The beginning of a legend. There was conflict in the hearts of the mountain people of northwestern Alabama. As loyal Americans they were opposed to dissolution of the Union, but as loyal Demo- crats they were firmly opposed to the anti-slavery admin- istration in Washington. The people of the area wanted to disassociate themselves from both sides and pursue the path of neutrality, and they felt secure in their re- mote mountain homes. But neutrality was short-lived. The Confederacy passed the "Conscript Act" and Confederate cavalry came PAGE 74 Paper Money WHOLE NO. 15 into Winston County. Married men, as well as single men over 18 years, were arrested and taken to jail in other counties, where they were given five days to make up their minds to join the Confederate army or be shot in the back. It didn't take long for the people to change from an attitude of neutrality to one of indignation and hostility. Few Winston County men actually served in the Union army; but a fair number, due partly to conscription, served in the Confederate army. "Union" companies were formed in the county for self-protection from con- scription into the Confederate army. With its remote mountain fastnesses, and the attitude of a good portion of the population, Winston County became a haven for deserters from the Confederate army, as well as a hide-out from the draft for local residents. Confederate rangers roamed the mountains searching for deserters, who numbered over 200 in 1863, by popular report. This situation was also a source of irritation to the populace since they were forced to supply food and shelter for the troops searching for deserters in addition to giving secret aid to the fugitives. It was a trying time for the people of Winston County, a time when legends are born. Whether an actual body of state government was formed is problematical. Legend says a search of the records will show that it was; but it is doubtful that discussions ever went beyond the mass- meeting stage. So the State of Houston (along with the other proposed or supposed free states and republics) remains in the limbo of Southern history. The director of the State of Alabama Department of Archives and History, Peter A. Brannon, wrote the fol- lowing in answer to the question of currency in Win- ston County: Winston County did not secede from the State of Alabama or from the Confederate Government. . . . "So far as your interest in the financial background there was not enough money in that area to start a bank and what few notes that may have been issued were probably what we have always called in this State 'shin plaster' and were 'promise to pay' issued by some small merchant with the thought that he could use it as an advertisement as much as any other way. They may have had some exchange value. I can say without question that there was no bank and as such there was no issue of currency." Students of obsolete currency are aware that lack of money was no deterrent to the foundation of a bank, but Brannon is not to be doubted when he says there was no bank of issue. His suggestion that the notes were "promises to pay" issued by a local merchant is a logical explanation for the notes. Following is an attempt to put "the ephemeral notes of the State of Houston" into a context. Did it happen this way, or did it happen at all? Ed Payne was a merchant in Houston, and like Uncle "Dick" Payne, a Confederate sympathizer. He issued "due bills" or notes, written on some of his brown wrap- ping paper, to pay for butter and eggs purchased from his farmer customers. In a spirit of good humor he teased the anti-secessionists by using "State of Houston" as his address and signed them with the title, "Gover- nor." Since Winston County people were generally poor, all of the notes were redeemed in goods at his store. SOURCES: Sykeston (N. Dak.) News, undated clipping about 1929 The Numismatist, April 1920; May 1925 Literary Digest, January 31, 1920 Alabama Department of Archives and History Annals of Northwest Alabama, by Carl Elliott, containing "Fact and Fiction of the Free State of Winston", by John B. Weaver Desertion of Alabama Troops From the Confederate Army, by Bessie Martin New Library Additions DONATIONS Richard T. Hoober H-1 Hoober, Richard T. Financial History of Colo- nial Virginia. 32 pp. Reprint from The Numis- matist 1953. Illus. (15c) H-2—Hoober, Richard T. Financial History of Colo- nial New Hampshire. 15 pp. Reprint from The Numismatist 1964. Illus. (15c) H-3—Hoober, Richard T. Financial History of Colo- nial Maryland. 14 pp. Reprint from The Numis- matist 1962. Illus. (15c) Frank F. Sprinkle S-3 Sprinkle, Frank F. Master List of Uncut Sheets of Obsolete Bills and Old Bank Checks. 62 pp. 1964. (15c) Forrest W. Daniel D-1—Dilliston, William H. National Bank Notes in the Early Years. 24 pp. Reprint from The Numis- matist 1948. (15c) D-2--Douglas, B. M. and Hughes, B. H. Catalogue of Confederate and Southern States Currency. Esti- mated values. 31 pp. 1955. (15c) Mr. Daniel also donated several back issues of The Numismatist and Numismatic Scrapbook. We are in need of copies of PAPER MONEY VOL 1, No. 3, and Vol. 3, No. 1 to complete our files. EARL HUGHES, Librarian R. 2, Mitchell, Ind. 47446 WHOLE NO.15 Paper Money PAGE 75 For the New Collector The Rewards of Collecting U. S. Paper Money By T. Homer Brooks It has been said that no man is completely happy or really safe from worry without a hobby. A full-grown hobby will make him more personable to his fellowmen and much more pleasing to himself. As a collector. I find the collecting of United States paper money interesting and challenging for two reasons: paper money lends itself naturally to beauty of design, variety of subject matter and artistic character of engrav- ing. Many of the early notes are truly works of art, with portraits of great leaders of the past and paintings of historic and educational value executed by outstanding artists. Second, there are the numerous ramifications and signature combinations that tax the time and purse of any numismatist. Starting with the period of the Civil War, the Treasury Department has issued: 1. Demand Notes, 2. Legal Tender Issues (United States Notes ), 3. Compound In- terest Notes, 4. Interest Bearing Notes, 5. Refunding Cer- tificates. 6. Silver Certificates, 7. Treasury or Coin Notes, 8. National Bank Notes, 9. Federal Reserve Bank Notes, 10. Federal Reserve Notes, 11. National Gold Bank Notes of California or Gold Certificates. All of the above are the old-size or large notes. In addition, the Treasury issued Fractional Currency, and beginning with the Series of 1928, the current small-size notes. With the exception of Gold Certificates, all of these issues are still redeemable today. Under the recent ruling of the Treasury, it is now legal for collectors to own Gold Certificates. Few present-day collectors will have the opportunity to collect Demand Notes, Interest Bearing Notes and National Gold Bank Notes of California and perhaps some of the other issues because of their scarcity; there- fore. this article will deal with the other issues. Some of us have been privileged to at least view specimens of the extremely rare issues in The Money Museum of The Chase Manhattan Bank in New York or The Museum of The National Bank of Detroit and have seen a specimen here and there in some of the other rare collections of paper money. The early issues of paper money were issued in 11 denominations—$1, $2, $5, $10, $20, $50, $100, $500, $1,000, $5,000. $10,000 as a medium of exchange. Today The Bureau of Engraving and Printing does not print notes above the $100 denomination for general circulation Many collectors have their favorite issues, some favor- ing the Legal Tender Series of 1869 with the beautiful coloring as the most attractive of all U. S. paper money. (In this issue the Government began the use of silk fibre paper in its notes to discourage counterfeiting). Other collectors and many non-collectors regard the 1896 Edu- cational Series of Silver Certificates, different from any other U. S. paper money, to be the most beautiful. These three notes were allegorical in design—the $1 obverse representing History Instructing Youth, the $2 showing Science presenting Steam and Electricity to Commerce and Manufacture, and the $5 designating Electricity as the dominant force of the world. Still others greatly admire the famous "Chief Onepapa," the $5 Silver Cer- tificate of the 1899 series showing the head of the Sioux Indian Onepapa or the first design of the $1 Silver Certificate, Series of 1886, showing the head of Martha Washington on the obverse. Collectors of "Lincolniana" may choose the $5 Silver Certificate, Series of 1923, showing the beautiful portrait of Lincoln on the obverse. Other favorites are the $1 Legal Tender, Series 1923. with the head of Washington on the obverse, the small scalloped seal and the large ornamental figure "1" in beautiful red. Numerous non-collectors and so-called "accumulators" own a specimen of the Legal Tender $10 Note, Series 1901, showing a bison between the explorers Lewis and Clark and a large red "X" on the obverse. These are referred to as "Saw Bucks." My favorite is the $10,000 Gold Certificate, Series of 1922, Serial No. A 00 000 000 A, with the stately portrait of Woodrow Wilson which adorns the rotunda of the Bureau of Print- ing and Engraving in Washington. As you perhaps know, all specimens retained for the archives of the Bureau are the first note of a Series and have the Serial No. A 00 000 00 A. Some have the feeling that paper money collecting is for kings and millionaires; with this I cannot agree. As a starter. I suggest that you collect one of the new $1 Federal Reserve Notes on each of the 12 Federal Reserve Banks at a cost of under $20. Then add two additional notes from your local Federal Reserve district to permit the displaying of the obverse of the 12 notes and the reverse of the additional two notes, and you will have an interesting exhibit that will create the interest of friends. After this start collect a "Star Note" from each of the 12 Federal Reserve Banks for a little more than your first 12 notes cost; your collection will then consist of 26 notes. Display them in an inexpensive frame or a plexi- glas panel. This accomplished, you will soon acquire a $1 Silver Certificate, Series 1957-B (signatures of Granahan and Dillon), and start to work back until you have a complete set of $1 Silver Certificates that will include the North African (Series 1935-A), the $1 Hawaiian overprint (Series 1935-A) and the "R" and "S" red overprints (Series 1935-A). Of the 24 one-dollar Notes starting with the first re- leased (small-size notes) Series of 1928, thru the 1957-B and including the 1928 Red Seal, Legal Tender Note, only three are considered to be rare and represent any sizeable outlay of cash. They are the 1928-C, 1928-D PAGE 76 Paper Money WHOLE NO. 15 and the 1928-E. You will have great fun in your quest for these three notes because of their scarcity, but they are still available from dealers and collectors. Now that you have completed your collection of the small-size one's, just try to stop collecting, if you can. You will no doubt expand to the $5 and $10 Silver Certificates. Both series in addition to the $1 series now have been discontinued, but specimens of all are still available from dealers and collectors. Once you have started your search for the $5 and $10 Silver Cer- tificates. it is quite likely that you will begin inquiry as to where the $2 and $5 Red Seal, Legal Tender Notes may be found. Only one note in these two series is rare, the $2 Note, Series 1928-B; it may take you some time to find this one in uncirculated condition. In your search for these, you may be afforded the opportunity to buy a $5, $10, or $20 National Bank Note, Series 1929, on the bank of your "home town." After adding a few of these National Bank Notes, you are surely headed for a start on the old-size large notes. Beginning collectors sometimes start their collections by acquiring a $1 Note of each series, expecting later to obtain a specimen of each of the various signature combinations. Others start with one series and collect the $1, $2, $5 and $10 Notes in uncirculated condition before starting on another series. Regardless of the series and denominations you determine to collect may we suggest (as was suggested to us early in our collecting career) that you buy or trade for only the uncirculated notes, with the possible exception of those extremely rare issues. The choice, uncirculated notes are somewhat more ex- pensive than circulated specimens, but you will derive greater collector-satisfaction in owning none but uncircu- lated notes. They are more readily appreciated by other collectors and the viewing public, and will enhance in value more rapidly than circulated specimens. So, we say, if your budget will permit the purchase of only one note, choose an uncirculated specimen. Now that you have started your collection, may we offer a suggestion or two intended to assist you in en- joying your new hobby: Join your local coin club and take an active part in its programs; become a member of both the American Numismatic Association and re- ceive its monthly magazine, The Numismatist, and the Society of Paper Money Collectors and receive its quar- terly magazine, Paper Money. Remember—half the joy of owning is sharing. Share your numismatic knowledge with your fellow collectors. Inflation ! By George Wait The inflation we have been experiencing in the last 30 years is nothing compared with that ex- perienced by our ancestors in the first years of our country. Paper money of all kinds depreciated continuously during the Revolutionary War. It became almost impossible for the colonies to borrow "hard" money. To obtain funds. Massachusetts issued this famous note which protected the holder against depreciation of his money. It is payable as a flexible sum of money, the amount to be deter- mined by the present ratio of money to various commodities such as corn, beef, sheeps' wool and sole leather. 4 "I•404 111P44 FeA'S C „ ) Thr VMS? Day of jAttu A. D. 17Eci; Behalf of the State of frotrattuftttft,100. I tht Stbrctihr.r do hereby prornift and ohlige Myfolf and Slice:dos in the Office of Taigas aes of laid STAT to pay note = or to his Order, the Sow of e/ on or btf,re the ran et Day of Mal c R. ht the Tear of our Lord One Thoufand Sena Hundred and ("/ / with barren at Si* ter ant per Annum : Roth Prineipal one 'roared to be paid in the then current Money of Paid ST1T1, its a greater or left Sow. *coverages, Fire Bufheis of CORM. Sixty-eight Pea ids and f feveAth Parts of a Pnand of BEEF, Ten ?..ands of SHEEPS WOOL, ' ∎ dSixieeli Petards of SOLE LEATHER fhA •hen cot, more or id, than One Hundord Thirty Pound, current Mote), at the then current Prices of laid Aurassty—This Sox being MITT TWO T a man asp •111 H•Llt what the fame Qnantities of the (.me Articles W , Uld cot at the Prices affixed to them in 'Law of this b rass made in theYear of OUT Lord One Illoofesd Seven Hauctred and Sivent)ifeven. Witted, At7 se I• row illonoloiy snit Ottrofior" The current Prices of Cod Articles, ai al the confequent Woe deem Pound of the Sun herein promifed, to fit determined agree ad , to a L 1V4 of this STAT a. intit'ed, •• An, ACT an provide for theSecority and Pay. rim e of the Belli era that may Appear to be doe by Virtue of a It-f^ oron of the O. e eat. As a auras of the Six•h of Fab.wra. a Ore Tooufand Seams Hundred and Seventy-nine, to this STATei (time of the CJN rINEN TA L ARMY, ariccabi. to the Arsotrunendation of CVNG R fi SS, atd fat SupOing the Tit IAtirav with a Soh of Mosey for that Ptirpofe.': 711/../ ,aleot/ ^ c?` -(// ( //z. 6:71,71111.1.:G. WHOLE NO.15 Paper Money PAGE 77 Portraits on Obsolete Bank Notes II. Andre Roman, An Ante-Bellum Governor of the State of Louisiana By Fred R. Marckhoff Die proof of engraving of Andr6 Roman which appeared on the Citizens' Bank of Louisiana note Andre Bienvenu Roman was born in St. Landry Parish (County I in 1795. His grandfather, Jacques Roman, had emigrated from his native France in or about 1741. Young Roman grew up on a sugar plantation and in 1815 graduated from St. Mary's College at Baltimore. A year later he married Aimee Parent and settled down on a plantation of his own. The couple had five children. Roman's public life began in 1818 upon election to the Louisiana House of Representatives, where he re- mained for many years, often without opposition. Four of these years he served as Speaker. The only interrup- tion to this came in 1826-1827, when he served as a Parish Judge. In 1831, Roman became Governor of Louisiana. After waiting out the four-year interval required by law, he again was elected Governor in 1839. Unfortunately, this was a period of flood and epidemics for much of the State. Under Roman's leadership, a Board of Public Works and a Fund for Internal Improvements were created by law for the first time. This Board also incor- porated the New Orleans Drainage Company. After re- tirement as Governor. Roman accepted the presidency of this firm and in this capacity drew up the first plan to relieve an immense swamp in the New Orleans area. As Governor, he helped to promote the first public common schools in the State. He was an unceasing foe of the popular but unsound railroad visionary expansion by the State. His second term as Governor was beset with finan- cial troubles in his attempt to raise money to pay every cent due on the Louisiana state bond issues. Roman's other accomplishments included heading a list of private subscribers in the founding and incorpora- tion of Jefferson College in 1831, the building of the State Penitentiary on the most modern lines of that era, helping to incorporate the first Chamber of Commerce in New Orleans in 1834, and leading the formation of a State Agricultural Society, although this was not of long duration. In 1845 and 1852, he assisted at State Constitutional Conventions. In 1848, he was sent to Europe as an agent for two banks regarding interest and renewal of bonds. In politics Roman was a Whig and in the Abolition Move- ment was a moderate. As war approached he strongly opposed disunion. But as a delegate to the State Seces- /////././ 00.% //' /71 // oitypOrie, eaws; PAGE 7 8 Paper Money WHOLE NO. 15 sion Convention in 1861, he yielded to the will of the majority. He was on the Confederate Commission which attempted to effect a peaceable separation early in the war. At the war's end, he refused to protect his property with the oath of allegiance required after occupancy by Federal troops. Six weeks before his death an impover- ished, despondent Mr. Roman accepted a petty recorder of deeds job in New Orleans from Gov. Wells. His death occurred on Jan. 28, 1866. But Andre Roman was a man of ability and far ahead of his time. To this day he is considered one of Louisiana's most able Governors. This is the second in a series of FIRST TIME IDENTIFICATIONS in any numismatic publication of portraits appearing on obsolete note vignettes. Confederate Inflation Chart Average Exchange Value for $1 Gold By Everett K. Cooper 1861 1862 1863 1864 1865 January $1.22 $3.00 $20.75 $ 56.50 February 1.00 1.22 3.67 23.30 50.00 March 1.00 1.30 4.55 22.75 April 1.00 1.45 5.00 21.75 70.00 May 1.05 1.50 5.35 19.25 1200.00 June 1.05 1.50 7.50 18.00 July 1.10 1.50 9.00 21.50 August 1.10 1.50 12.50 22.85 September 1.10 2.25 12.50 24.00 October 1.12 2.25 13.50 26.50 November 1.17 2.95 16.00 30.75 December 1.20 2.95 19.50 45.50 Values averaged from following sources: Four Years in Rebel Capitals, Thomas C. DeLeon Constitutional View of the War, Alexander H. Stephens Table by Richmond bankers William B. Isaacs & Com- pany An interesting observation is to note the two periods which had a decline in depreciation rate, March 1864-June 1864, the effect of the February 17, 1864 Funding Act. February 1865, the effect of the Confederate Treasury Department using specie to purchase Confederate notes in the open market. WHOLE NO.15 Paper Money PAGE 79 The Allan Forbes Collection of Emergency Paper Money of the World By Maurice M. Gould Some time in 1951, I received a call from Allan Forbes regarding the cataloging of his collection of emergency paper money of the world. The late Allan Forbes was one of the nation's best known bankers. He was Chairman of the Board of the State Street Trust Company in Boston at the time of his death and held many positions of importance with the various bankers' associations and trust companies. He was a Director and Trustee of numerous organizations, including the Federal Reserve Bank of Boston, as well as railroads, life insurance companies and utilities. One of his hobbies was helping various charitable or- ganizations, and he received many citations for his com- munity and civic work. During World War II. he did a great deal of work for foreign relief committees and received many high honors for his efforts, among which were the Chevalier of the Legion of Honor from the French government and the Chinese Medal of Merit, as well as the Order of the Auspicious Star. He was also decorated by Denmark, New Zealand and Belgium. He had many hobbies, including the collecting of government postal cards, whaling prints, wrote several publications on historical subjects and also won over 225 cups and ribbons for sailing, polo, yachting, -etc. Mr. Forbes was known as a fine Yankee gentleman. Everyone who came in contact with him, as well as his employees, was the better for it. He always had a kind word for everyone and even took the time to act as teller when an employee would go out to lunch. I hope this will give you a picture of a modest man with many accomplishments, whose first love was the col- lecting of emergency paper money of the world. His collection consisted of 16 volumes of notes. Although this does not sound like an unusually large collection, there were a great many notes in these volumes that en- tailed a great deal of work in checking. I believe that back in 1951 this was as large and comprehensive a col- lection as could be obtained in a field where it is virtu- ally impossible to complete many of the series. Mr. Forbes, both as a banker and civic leader, had many contacts with foreign governments and was in a position to obtain material which the average collector could never hope to get. He was presented many pieces by the Chinese government, in addition to many from officials of other countries. He corresponded with dealers and collectors all over the world. When the work of cataloging and appraising was finally done, he presented his collection to the Massachusetts Historical Society in Boston and still continued to purchase any new material which might be added to the collection. In this collection was one of the world's finest groups of Philippine Guerrilla money, including pieces printed on paper bags, scraps, etc. The remarkable thing was that he also had the high values, and as these were still redeemable at one period and worth face value, the aver- age collector could not retain them. Eventually a listing of these pieces will be used by Neil Shafer of the Whit- man Publishing Company as the nucleus of a new book in this field. There were many pieces of prisoner of war money and concentration camp issues and such interesting pieces as copies of U. S. currency with propaganda on the reverse. There were also many of the French assignats and the early and rare Swedish emergency paper. His American material consisted of Confederate broken bank notes, shin plasters, Continental Currency, etc., but his pride and joy were the cardboard sutler notes, of which he had a fairly good number. All of these are very rare. Among his material were many interesting documents and autographs. In working on his collection with him, he would tell me many of the interesting stories pertain- ing to certain items, how the item happened to be shipped to him, where it was discovered, etc. It is unfortunate that a wonderful collection of this type is not on public display and usually can be seen only by appointment. When you do visit Boston. I recommend calling the Massachusetts Historical Society, Boylston Street, Boston, and taking the time to see at least a part of this collection. I hope the day will come when the funds and space will be available to make this a permanent display. It would be most worthwhile to ask to see the 1804 silver dollar, the unique Massachu- setts Pine Tree, and Janus Head coins, as well as many of the extremely rare pieces from the Appleton collec- tion, and donations given by many of New England's most famous numismatists. There is an outstanding col- lection of tokens, as well as much other fine material pertaining to numismatics. Italian Variety Richard D. Palmer, who noted in his article "Paper Money Potpourri" (Spring 1965 issue ) that the now obsolete Italian 1000 lira notes come in three varieties, is able to furnish further information. He recently received the 1000 lira type of "Agosto 1947" undated, Medusa head vignette, with the signatures of Carli and Riga, but with the red plate omitted. According to Mr. Palmer, this note was checked by an Italian bank official who declared it to be genuine. PAGE 80 Paper Money WHOLE NO. 15 Review of Numismatic Literature History of the Bureau of Engraving and Printing, 1862-1962, by the Bureau Centennial History Staff, U. S. Government Printing Office, Washington, D. C., board covers, illus., 220 pp., $7.00. It was on August 29, 1862, that the activity which was to evolve later into the Bureau of Engraving and Print- ing came into being with a nucleus work force of six per- sons. "The purpose of this volume is . . . to tell the story of the happenings and conditions that have had an in- trinsic bearing on the printing of our Government's securities." Thus states Henry J. Holtzclaw, Director of the Bureau, in his very brief foreword in the book. To call the book a story is fitting; it might almost be called a series of short stories with a thread of continuity between many of them. It is interesting reading, as becomes a story, and stresses throughout the "public servants who plodded faithfully through the century and peopled this story." And it was written for the layman, although at times he may become a little confused by the descriptions of processes and machines if he has no previous acquaintance with intaglio printing. But any student of U. S. history, the numismatist, and the phil- atelist should find the history of particular interest. It is only fair to say to paper money collectors that the book lacks some of the information we would have liked. For example, very little is said about specific engravers and issues of notes and certificates, although it does tell about the changes in sheet sizes and methods of printing. The early history of intaglio printing is nicely sketched, and the forming years of the Bureau are set forth at some length. Philatelists will find much information on the production of postage stamps. The book has attractive and durable covers, clear and uncrowded type set in two columns per page, and about seventy well-reproduced illustrations of people, machines, Bureau scenes, and of some of its currency, bond and postal products. Two pages were printed from engraved plates, one by lithography, and the remainder by the let- terpress process. It is available at $7 from the Super- intendent of Documents, U. S. Government Printing Office, Washington, D. C. 20402. (GLENN S.) It's in the Books By Earl Hughes QUESTION: Where did the phrase "carpet-bagger" come from? ANSWER: The following from a speech by Hon. William D. Kelley, M. C., delivered in 1875, at Indian- apolis: "The younger men of our day think it was invented to describe a man from the North who went South and got an office. Oh, no; not at all. The older members of my audience will attest the truth of what I say when I state that the phrase "carpet-bagger" arose from the fact that nearly every specie-basis bank had its carpet- bagger—a fellow it sent with notes by the carpet-bag full into some distant State to get them into circulation there. If he could buy cattle, corn, hogs, or something else in which there might be a profit, he was to enter into a treaty with the carpet-bagger or other officer of some hank out there for an exchange of notes. For instance: The Frogtown bank, for I am told there were banks located occasionally in almost impenetrable swamps, and in those days, you must remember, there were no tele- graphs and but few railroads—the fellow from Frog- town would get way out into Skunktown, another almost inaccessible place, and he would effect an exchange of ten. twenty, or thirty thousand dollars of Frogtown bank notes for a like amount of Skunktown bank notes, and the Skunktown bankers would put off the Frogtown notes on their customers, and the Frogtown banks would put off the Skunktown bank notes on theirs, and thus they would go on with this legitimate business to their com- mon advantage. I am giving you a historic fact when I tell you that I first became acquainted with that term in designing those fellows who were traveling from one out-of-the-way place to another with a carpet-bag full of notes to exchange, so that the notes put into circulation in Skunktown couldn't find their way back to Frogtown, because the people in Skunktown didn't know where Frogtown was, and the people in Frogtown didn't know where Skunktown was, and if they did they couldn't get there; the people in one place couldn't get to the other to get the specie on which the notes were based. Then after the bank at Frogtown had paid out the Skunktown notes, the bank at Frogtown would refuse to receive the Skunk- town notes, but it would send the holder, who was its debtor, around the corner to a broker, who would buy them at seven or nine per cent discount, and then the broker and the bank would divide the proceeds of this gold basis transaction. That is a specimen of what was going on all over the country."—William A. Berkey, The Money Question. The Legal Tender Paper Money System of the United States, 2d ed., Grand Rapids: Hart. 1878, pp. 151-152. WHOLE NO.1 5 Paper Money PAGE 81 SECRETARY'S REPORT New Membership Roster Dealer or Collector 1293 John T. Palawsky, 583 Ord Drive, Boulder, Colo. 80302 C 1294 Wayne A. Faulkner, 5435 Ted Ave., North Charleston, C S. C. 29406 1295 G. F. Sim, P. 0. Box 692, Winters, Texas 79567 C 1296 Charles M. Baney, M. D., 54 North Fourth St., Ham- C burg, Penn. 1297 Joseph Ruggerone, 85-43 66th Road, Rego Park, N. Y. C 11374 1298 Terry Allgood, 840 Lyncrest Dr., Lincoln, Neb. 68510 C 1299 J. Thomas Welch, 21220 Erben, St. Clair Shores, Mich. C 48081 1300 Jasper Payne, 207 Michael St., Knoxville, Tenn. 37914 C, D 1301 Elmon R. Johnson, 389 Newport Ave., Quincy, Mass. C 02170 1302 Gordon Z. Greene, P. 0. Box 3334, So. El Monte, Calif. C 1303 K. K. Kahlenbeck, 3017 Golf Course Rd., Grand Rapids, C Minn. 55744 1304 Charles A. Haskins, Bradford, Vermont 05033 C 1305 Richard J. Larsen, 24 Bollow Ave., Revere, Mass. 02151 C 1306 Melvin J. Henderiksen, 203 Sears St., Plano, 111. 60545 C 1307 Norman Ellis, Box 466, Old Forge, N. Y. 13420 C, D 1308 Jacob R. Tennesen, Box 323, Incline Village, Nev. 89402 C 1309 Michael F. Barcheski, 1012 Pine Hollow Rd., McKees C Rocks, Penna. 15136 1310 John Marshall, 595 Breetz Dr., Campbell, Ohio. C, D 1311 George W. Peck, 6160 Otis Ave., Huntington Park, C, D Calif. 90256 1312 Mark George Murtaugh, 107 Park St., Ridley Park, Pa. C 1313 Ronald U. Kolb, 1512 Chapel Court, Northbrook, 111. C 60062 1314 Arthur B. Shaw, Rt. 3, Eaton, Ohio C 1315 Edward Ploner, 8229 Commonwealth, Buena Park, Calif. D 1316 Eugene G. Smith, 736 Auburn Dr., P. 0. Box 147, Ma- C, D comb, Ill. 61455 1317 Dr. Roger M. Berg, 219 Avenue B. West, Bismarck, N. C, D D. 58501 1318 Leo E. Eickoff, Jr., 714 N. Woodlawn, Kirkwood, Mo. C 63122 1319 Hattie Hoffman, Helenville, Wis. 53137 C 1320 David Ray Arnold, Jr., 1601 Glen View Road (64-F), C Seal Beach, Calif. 90740 1321 Haskell 0. Trusty, P. 0. Box 2155, Joplin, Mo. 64803 C 1322 Dean Oakes, 1129 East Washington, Iowa City, Iowa C, D 1323 F. P. Peppard, 1907 Skillman, Dallas 6, Texas C, D 1324 Andrew G. Phelps, 518-6th Street SW, Waeca, Minn. 56093 1325 Edward Paul Streeter, 103 First Avenue, P. 0. Box I, C Mangla, West Pakistan 1326 George W. Schluderberg, 3613 Lochearn Drive, Balti- more, Md. 21207 1327 Ralph J. Marks, Sr., R R It 2, Box 232 D, Coloma, Mich. C 49038 1328 Franklin Michaels, 228 Northwestern Bank Bldg., Roch- ester, Minn. 1329 Walter Kempin, Jr., c/o American Consulate General, Box 1, APO N. Y. 09069 1330 Oscar Demling, 3001 Sunnyside Drive, Louisville, Ky. 4C206 1331 James Stiff, 19 Stark St., Nashua, N. H. 03060 1332 D. W. Maas, M. D., 1618 Del Dayo Drive, Carmichael, Cal. 95608 1333 Jim Pittman, P. 0. Box 126, Seiling, Okla. 73663 C C C, D C, D C, D C Specialty US, Canada & Mexico Federal Reserve notes, silver certificates General US paper money Obsolete paper money, counterfeit detectors Large & small US currency Paper money, small cents, etc. Tennessee obsolete Massachusetts obsolete bills $2 bills Type US currency General US paper money—large size Japanese invasion money of WW 2. Also US small size notes One dollar silver certificates, others and coins Silver certificates 1928 to date No. New Members General US $1 & $2, foreign Broken bank notes & sheets US, Confederate & German currency US currency Fractional currency Colonial & obsolete US type currency US currency Paper money & gold Large size bills US general American & foreign $2 & $5 notes Small currency Currency Large size US & 1928-29 small size Fractional currency US & obsolete National currency—Oklahoma Paper Money WHOLE NO. 15PAGE 82 1334 Roy T. Williams, 806 Forest Ave., Cleburne, Texas 76031 1335 P. R. DeVincentis, 140 Walnut St., Teaneck, N. J. 07666 1336 Dr. Edward N. Green, 299 Alhambra Circle, Coral Ga- bles, Fla. 33134 1337 Robert S. Gamble, 3307 Mountain View Ave., Los An- geles, Cal. 90066 1338 William McGreevy, P. 0. Box 83, Wichita, Kansas 67201 1339 Russell 1I. Thompson, 41 Goode Street, Philadelphia, Penn. 19119 1340 F. L. Batson, 400 Court St., Portsmouth, Va. 23704 1341 Roy L. Brown, 18 Dixie Acres Rd., Danville, 111. 61833 1342 K. B. Garrison, 1125 N. E. 2nd St., Pryor, Okla. 74361 1343 William K. Weinstock, P. 0. Box 2, Watertown, Ohio 45787 1344 Richard A. Bender, 8238-212 Street, Queens Village 27, N. Y. 11427 1345 Millard S. Rosenblatt, 3465 SW Brentwood Dr., Port- land, Ore. 97201 1346 Charles M. Hellebusch, 6305 Zimmerman NE, Albuquer- que, N. Mex. 1347 Dr. John A. Muscalus, P. 0. Box 185, Bridgeport, Pa. 1348 William E. Brewer, 17141 Lakenice Way, Yorba Linda, Calif. 1349 Milton H. Hartwell, 446 E. Juanita Ave., San Dimas, Calif. 91773 1350 E. Gail Hutchinson, 756 Main, Lima, Ohio 45804 1351 Mr. Herbert L. Stein, 9204 Daleview Ct., Silver Springs, Md. 20901 1352 Harold E. Rose, 14926 Mark Twain, Detroit, Mich. 48227 1353 Edward Ahlers, 72-25 65th Place, Brooklyn, N. Y. 11227 1354 R. H. Rockholt, 1489 Clayridge Ave., St. Paul, Minn. 55119 1355 John M. Wilcoxon, 758 Latham Ct., Columbus, Ohio 43214 1356 Bud Miller, 192 Fayette Ave., Buffalo, N. Y. 14223 1357 H. Russell Bintzer, 49 Churchill, Pittsburg, Pa. 15235 1358 W. H. McDonald, 26 Meadowglade Cres., Willowdale, Ont., Canada 1359 John Bastolich, 5487 Main St., N. E., Minneapolis, Minn. 55421 1360 Glenn Templeton, P. 0. Box 590, Winston-Salem, N. C. 27102 1361 Edward R. Barnsley, 111 South State St., Newtown, Pa. 18940 1362 Alfred F. Perrault, G-3248 N. Center Rd., Flint, Mich. 48506 1363 William G. Lahti, 169 Victoria, Buffalo, N. Y. 14214 1364 Sal LoBosco, 12841 Lynn Drive, Chesterland, Ohio 44206 1365 Mrs. Alphonse J. Kirka, 116 Oak St., Manchester, Conn. 06040 1366 Donald J. Perry, Johnstown, Pa. 1367 Earl E. Keller, Jr., 419 Morgantown St., Uniontown, Pa. 15401 1368 Rush H. Reed, P. 0. Box 173, Hazelhurst, Miss. 39083 1369 Mrs. Richard Shanklin, Jr., 230 Woodlawn Dr., Pana- ma City, Fla. 32401 1370 M. Friedberg, P. 0. Box 5431, Cleveland, Ohio 44101 1371 Attilio A. Mangravite, 8829 Fort Hamilton Pkwy., Brooklyn, N. Y. 11209 1372 James R. Thompson, 609 Preston Ave., S., St. Peters- burg, Fla. 33701 1373 Maj. Peter A. Graubard, 1061 E. 27th St., Brooklyn, N. Y. 11210 1374 David L. Dokus, 315 Mountain Ave., Murray Hill, N. J. 1375 Lt. Thomas W. Wood, 2022 Oriole Court, Fairfield, Calif. 94533 C C C C C C C C C C C C, D C C C, D C C C C C C, D C C C C C C C C C C C C C C C C C C C C, D C One dollar notes Silver certificates & US notes Large and small US Small paper money $2 USN Nationals Large notes & currency 2 bills Coins & foreign paper money Small size $1 & V, coins New York State obsolete notes Small $1 silver certificates, small size national currency US large & foreign Obsolete currency Fractional & broken banks US coins & currency Small size notes, V bills US & foreign Large size US & fractional, obsolete US Small size currency, gold certificates Large size US Canadian bank notes and British West Indies Minnesota currency Small currency Connecticut coinage US and Canadian currency US small notes US coins and paper money US paper money US General Fractional currency US US US $1 & $2 Colonial and obsolete US small size paper Paper Money PAGE 83WHOLE NO.1 5 1376 L. 0. Cavender, P. 0. Box 868, Idabel, Okla. C, D 1377 C. 0. Evanson, 172 Schillen St., Elmhurst, Ill. 60127 1378 Bob Roe, 623 East 4th, Dewey, Okla. C Series sets 1379 Edward H. Brown, 2424 Lawndale Ave., Evanston, Ill. C US currency—large and small size 60201 1380 Dick Rowe, 733 W. Fedora, Fresno, Calif. 93705 C Proof and type sets 1381 Dan Rochlin, 9753 Paso Robles Ave., Northridge, Calif. C Large and small US currency 91324 1382 Raymond H. Kyzer, P. 0. Box 5032 South Side Sta., C Small currency Little Rock, Ark. 1383 Charles E. Dibble, Rt. 5, Wellsboro, Pa. 16901 C, D All paper money 1384 Paul Rynearson, 1725 E. 10th St., Apt. 9, Long Beach, C Small size currency Calif. 90813 1385 Elmer D. Noll, 725 Santa Rita, Sunnyvale, Calif. C Military notes 1386 Howard Louis Goodman, Jr., 3503 Bonfield Rd., Balti- C Late silver certificates, ones, etc., starred notes, more, Md. 21208 low numbers, oddities 1387 Larry Lewis, 9101 Jefferson Court, Margate, N. J. 08402 C $1 & $2 dollar bills, large and small 1388 Gary D. Hacker, 130 LeHardy Dr., Savannah, Ga. 31405 C Obsolete and confederate 1389 Richard Gelman, 451 Fulton, Apt. 608, Hempstead, N. Y. C, D Fractional currency 1390 Raymond De Vos, 140 Summit Ave., West Trenton, N. C Small currency J. 08628 1391 Ray Dennhardt, 1409 Hillside Ave., Honesdale, Penna. C US dollar types 18431 1392 Martin Black, 263-06 73rd Ave., Floral Park, N. Y. C, D Large, small, fractional & gold notes 11004 1393 Wilbur B. Moorman, 2154 Norway Dr., Dayton, Ohio C Coins and paper money US 45439 1394 Hugh J. McCloskey, 2134 W. Galena St., Milwaukee, C Small size US $1 & $2 Wis. 53205 1395 William Shaw, 1764 S. Blaine Lane, Decatur, III. 62521 C Current size $1 1396 Ned B. Rommine, R. R. #3, Tuscola, III. 61953 C One dollar bills 1397 Joseph P. Powers, 238 Linden Ave., SouthGate, Ky. 41071 C Silver certificates 1398 Frank A. Tannewitz, 119 E. Tenth Ave., Johnson City, C Broken bank notes Tenn. 37601 1399 Richard Van Ommeren, 123 Fifth Street, Perkasie, Pa. C US currency, large and small bills 18944 1400 Walter H. Kelly, 1114 Cherokee Rd., Louisville, Ky. C Uncut broken banknote sheets, broken bank- 40204 notes 1401 Harold Smallridge, 608 McKinley St., East Rochester, C US small notes N. Y. 1402 Ralph S. Evans, 194th Ave., East Rockaway, N. Y. C $1, $2, & $5 11518 1403 Henry Jacob, 1504 Bardstown Rd., Louisville, Ky. 40205 C, D General 1404 Max J. Leon, P. 0. Box 41, Lake Jackson, Texas 77566 C Small US currency 1405 Albert Siegel, c/o Market Diner, 842 11th Ave., New York, N. Y. 1406 C. F. Miller, M. D., P. 0. Box 1338, Waco, Texas 76703 C Currency 1407 Remy E. Erfurt, Jr., 2568 Vivian Rd., Monroe, Mich. C FRN's and silver certificates 48161 1408 Benton Taylor, I 1 1 S. Meramec, Suite 106, Clayton, C US currency Miss. 63105 1409 G. W. Minton, 219 E. 2nd St., Muscatine, Iowa 52761 C Silver certificates Change of Name or Address 519 Matt Krzastek, 14 Arthur Terrace, Hackettstown, N. J. 07840 1262 Clint White, Jr., 1214 Sikes Ave., Sikeston, Mo. 63801 256 N. F. Carlson, P. 0. Box 331, Wayland, N. Y. 14572 1253 John D. Mullen, 50 Arlington St., Newton, Mass. 02158 349 Richard T. Hoober, P. 0. Box 196, Newfoundland, Pa. 18445 1129 Robert Reynolds, P. 0. Box 30131, Dallas, Texas 75230 1152 0. V. Neilsen, 1220 L. St., Aurora, Neb. 239 Robert P. Geden A2C, AF 12685008, 6986 SCTY GP. Box 537, APO San Francisco 96270 716 Lt. W. L. Heise, USS Duxbury Bay (AVP38), FPO New York, N. Y. 09501 805 Michael B. Kromeke A3C, AF 13840505, 23 OMS GD 705, McConnell AFB, Kansas 67221 900 Edward Busse, Jr., 407 West Las Tunas, San Gabriel, Calif. 91776 PAGE 84 Paper Money WHOLE NO. 15 581 Bert V. Couvillon, P. 0. Box 468, Alexandria, La. 71302 500 Charley Geiger, 14710 Detroit Ave., Lakewood 7, Ohio 604 George Dehmel, 649 N. 4th St., Milwaukee, Wis. 53203 260 Anthony Ptacnik, 52 W. Main St., Somerville, N. J. 08876 1180 Bruce N. Robinson, 7527 Monroe Rd., Charlotte, N. C. 28212 1031 James J. Reilly, 90-02 180th St., Jamaica, N. Y. 11432 658 Joseph A. Lange, Rt. Box 6, Templeton, Cal. 635 Major Walter F. Rogers, USMC, P. 0. Box 466, Con- cord, N. C. 28025 256 N. F. Carlson, P. 0. Box 331, Wayland, N. Y. 393 David W. Carp, c/o Carlton Terrace Apt., 10245 Collins Ave., Miami, Fla. 777 T. Jackson Lowe, 1510 Hampton St., Columbia, S. C. 29201 826 Wayne E. Joseph, 3311 Henninger Road - Apt. 102, Cleveland, Ohio 44109 7 Brent H. Hughes, 3230 Nealon Drive, Falls Church, Va. 22042 852 Vernon Tyner, RFD Avoca, N. Y. 965 Mary Evelyn Rich, 905 16th St. N. W. 7th Floor, Wash- ington, D. C. 20006 1165 Alfred C. Werner, 8375 S. W. 87th Court, Miami, Fla. 33143 654 M. Jean Louis Matteau, P. 0. Box 592, Grand Mere, Quebec, Canada 678 Robert J. Gelink, 2621 First Ave., Apt. #3, San Diego, Cal. 92103 784 Robert J. Lindesmith, P. 0. Box 137, Dayton, Wash. 99328 1013 William R. Martin, 584 Bryn Mawr Ave., Bryn Mawr, Pa. 1286 Paul E. Berube, 41 Linden St., Allston, Mass. 02134 777 T. Jackson Lowe, 4017 MacGregor Drive, Columbia, S. C. 599 Dr. Robert B. Develin, 1099 Coleman Rd., Cheshire Conn. 06410 565 Lt. Bernard J. Schaaf (MC) USNR, U. S. S. St. Paul (CA-73), cjo FPO San Francisco, California 96601 595 Bill Waites, 774 Ross Ave., Penticton, B. C., Canada 597 John Henry Roy, 10201 Christophe Colomb., Montreal 12, Canada 648 Virgil K. Tarter, P. 0. Box 356, Pine Knot, Kentucky, 42635 678 Robert J. Gelink, Carel Reinierszkade, 147 Den Haag, Holland, The Netherlands 697 Warren F. Brown, 2167 Mount Paran Rd., NW, Atlanta, Georgia 30327 707 Louis W. Van Belkum III, 1373 Blanchard SW., Wyo- ming, Mich. 49509 708 David M. Klausmeyer, 12012 Whipperwill Lane, Rock- ville, Maryland 20852 740 Floyd R. Bolton, 1074 Colleton Drive, Sarasota, Fla. 99580 768 Marty Martin, 9711 Linkmeadow, Houston, Texas 77025 772 Joe Kinney, 1133 Lillian Way, Los Angeles, Cal. 90038 802 Neil J. Wimmer, 2324 Westover Terrace, Burlington, N. C. 27217 025 Donald Stewart, 483 Chalfonte, Grosse Pointe Farms 36, Mich. 839 Robert R. Tanton, 7402 Ouachita Drive, Little Rock, Ark. 72205 882 Donald B. Huetson, 316 W. Ash St., Caldwell, Idaho 83605 001 Walter M. Fischer, 64 Green Bay Road, Highland Park, 913 Richard B. Maglin, 180 Hall Road, Hampton, Va. 23364 933 Frank A. Nowak, 109 W. Alta Green, Port Hueneme, Cal. 952 F. H. Laube, 407 Edgewood Dr., Sarver, Pa. 16055 1005 J. A. Tournoux, 4033 Harbrook SW, Navarre, Ohio 44662 1015 John C. Marinace, 17 Tuxedo Drive, Melville, Long Island, New York 11749 WHOLE NO.1 5 Paper Money Dropped for Non-payment of Dues PAGE 85 841 Bob Alldredge 75 Charles G. Altz 673 Fred W. Babbe 736 William C. Baldwin 671 Al Barbarotta 790 William R. Barett 275 Aaron Bernarr Beard 740 Floyd R. Bolton 710 George W. Brannin . 709 Thomas K. Browne 629 Robert N. Burns 6-,0 Ron Carpenter 273 Charles N. Case 813 Morris S. Cohn 916 Donald E. Cooper 341 Roy B. Davis 221 Lester B. DeMay 835 J. P. Donnell 719 James E. Doyle 903 James Vernon Fitzgerald 13 Harry J. Forman 731 A. L. Geer 586 William Guggenheim 759 Robert G. I lalbert 358 Bill Halliwell 684 Captain John L. Harrell (k0 George Hollanshead 867 C. W. Hollyday 743 William E. Houser 661 Clifford A. Hudson 549 Theodore C. Jacoby 820 Paul F. Jannott 653 A. B. Johnson 539 Lynn E. Jones 851 Frances Kay 1018 Wm. Clark Kelly 708 David M. Klausmeyer 623 James M. Knight 844 John Kozma 26 Dick Krotz 254 John Lake 213 Travis J. Lewis 795 Alan R. Macisaac 730 Ben E. Marcus 768 Marty Martin 654 Jean-Louis Matteau 625 Steven M. McKenzie 674 George B. Mehlman 607 Jack Mihlrad 1016 Donald J. Mikalouski 174 James Mitchell 70 William G. Moose 439 Walther Pedersen 858 Elvis N. Pendergrass 686 John J. Proios 757 Ray S. Purdy 538 Louis J. Rambo 436 Lalji Ramji 1008 Robert R. Riddle 739 Mike Schlotterbeck 734 Bill Schneider 195 George B. Schwarz 645 Don Seibert 575 Norman Shorr 883 Joe W. Sitlington 773 Isabelle Stahley 834 Dr. Paul M. Stevens 387 John Strojny 839 Robert R. Tanton 620 Kenneth A. Tretow 856 P. I. Turner 632 Leonard Vaughn 746 Edward E. Vitala 637 Lloyd B. Walton 715 Walter B. Wendt 235 E. R. Wentz 859 Bill West 706 Robert J. Williams 776 Mrs. John J. Winchell 691 Robert C. Ziegler, Sr. 543 Edwin H. Leventhal 344 Dr. George Fuld 176 Arnold Perl 1319 I lattie Hoffman Deceased 203 Roger E. VanHurle 1137 John L. Hooper 559 Dr. Robert B. Develin 794 Henry C. Steneck 203 Roger E. VanHurle Resignations 498 Rt. Rev. Edmund J. Yahn 1009 A. Wilson Embrey, Ill 940 Miss Peggy A. McAtee 498 Rt. Rev. Edmund J. Yahn 1009 A. Wilson Embrey, Ill 940 Miss Peggy A. McAtee 561 L. W. Niehouse 733 Carl E. Herbert 323 T. Homer Brooks, 1206 - 8th Ave., So., Nashville, Tenn. 3203, 519 Richard Schneider, 1751 - 67th St., Brooklyn, N. Y. 11204 53 Carl L. Roethke, 1759 Gratiot Ave., Saginaw, Mich. 48602 FIVE DOLLARS 477 AU 1st Nat'l Brigham City, Utah 195.00 589 XF Anglo & London Paris, S. F., Calif. 22.50 595 CU Mellon Nat'l Pittsburgh, Pa. 90.00 598 CU 1st Nat'l Jersey City, N. J. 27.50 600 UG District Nat'l, Washington, D. C. 15.00 608 F City Nat'I, Hackensack, N. J. 10.00 TEN DOLLARS 482 AU Citizens Nat'l Newport, N. H. 100.00 490 CU 1st Nat'l Brigham City, Utah (State) 350.00 545 AU Fort Collins, Colorado 90.00 577 XF Miners Nat'l, Ishpeming, Mich. 125.00 577 VF Lowry Nat'l, Atlanta, Ga. 100.00 621 AU Tootle-Lemon Nat'l, St. Louis, Mo. 60.00 TWENTY DOLLARS 431 AU 2nd Nat'l, Richmond, Indiana 350.00 642 CU Bank of Calif. Nat'l. Association, S. F. 60.00 650 XF 1st Nat'l Jersey City, N. J. 52.50 651 F Am. Exch. Nat'l, N. Y. C. 30.00 LARGE-SIZE NOTES DOLLARS TWO DOLLARS 273 F 12.50 16 CU 75.00, G 25.00 42 CU 260.00 281 AU 40.00 18 VG 20.00 48 CU 87.50 851 CU 17.50 AU 15.00 26 CU 45.00 57 CU 27.50 TEN DOLLARS 36 AU 10.00, VF 6.00 58 XF 15.00 122 AU 55.00 38 CU 22.50 246 AU 200.00 123 VG 60.00 39 XF 8.00 248 CU 250.00 Educational 301 VF 70.00 40 CU 35.00 753 CU 60.00 366 XF 300.00 230 XF 8.00 757 CU 85.00 3 digit serial 892 VF 60.00 233 XF 8.00 772 CU 200.00 Minneapolis 908 AU 20.00 236 CU 14.00, XF 8.00 FIVE DOLLARS 910 CU 32.50 237 238 711 722 730 733 736 CU CU CU CU CU CU VG 10.00, 15.00, 30.00 42.50 70.00 75.00, 20.00 AU 8.00 AU 11.00 2 digit serial AU 60.00 3 63 69 79 80 81 87 F CU CU CU CU CU AU 300.00 125.00 180.00 52.50 60.00 57.50 18.50 Autograph 90.00 911 CU 27.50 1173 AU 57.50 TWENTY DOLLARS 969 AU 45.00 970 XF 40.00 971 XF 40.00 1187 AU 85.00 XF 17.50 F 25.00 F 35.00 91 AU 15.00 U 20.00 FIFTY DOLLARS 92 CU 40.00 1028 CU 125.00 LARGE-SIZE NATIONALS SMALL-SIZE NATIONALS FIVE DOLLARS 305-1 CU Chase Nat'l, NYC 20.00 CU Nat'l City, NYC 20.00 305-2 CU Sterling Nat'I, NYC 20.00 CU Wichita Nat'l, Wichita Falls, Texas 24.00 CU Richmond Nat'l, NYC 20.00 TEN DOLLARS 310-1 CU American Nat'l, Cheyenne, Wyoming 45.00 310-2 CU Anglo-California Nat'l, S. F. 30.00 TWENTY DOLLARS 320-1 XF Hartford Nat'l, Conn. 32.50 FRACTIONAL CURRENCY 1227 U Obv. & Rx. Specimens. Close trimmed, perhaps from shield. 40.00 1282 U Specimens, as above. Buff paper 150.00 1230 AU Obv. Specimen, from shield. Wide margins with glue on corners. Nice 30.00 1229 VF 15.00 1265 U 5.00 1266 U 5.00 CRISP UNC SMALL-SIZE NOTES DOLLARS TWO DOLLARS 105-8 14.50 510-5B 22.50 201-1 14.50 102-4 17.50 205-3 50.00 510-6B 20.00 201-2 9.75 102-5 16.00 205 1-7 9.00 610-1 72.50 201-3 10.50 102-7 12.00 505-3B 25.00 (AU) 30.00 201-7 10.00 102-8 7.50 505-6LB 18.00 TWENTY DOLLARS 201-8 12.00 102-12 3.50 508-15B 7.50 201-9 4.50 102-13 3.00 520-3B 32.00 201-12W 4.50 TEN DOLLARS 520-5B 30.00 201-16 2.00 FIVE DOLLARS A210-2 27.50 -620 1 135.00 201-18* 3.50 105-1 27.50 210-4 (XF) 250.00 (VF) 45.00 201-20 2.75 105-2 50.00 210-5* 25.00 H-201 6.50 105-3 25.00 210-6 17.50 A-201 7.50 105-4 21.00 510-3B 22.00 All notes carry the usual HAAS guaranty of "Satisfaction or Refund." Add 25c for Postage & Insurance on orders under $25.00. KNOWLEDGE PROFESSIONk NUMISMOISTs %uiLD.INc HAAS COIN COMPANY 80 NASSAU STREET (SUITE 401) 212-WOrth 2-3794 NEW YORK, N. Y. 10038 FRACTIONAL CURRENCY WANTED Singles, Sets, Sheets, Specimens, Shields, Proofs, Essays, Trials Anything in the series. * * * For my own collection the following wide margin proofs. Rothert Numbers. THIRD ISSUE !-229 15c obverse 5-218 3c obverse, It. background S-231 15c obverse S-224 10c obverse auto. Jeffries and Spinner S-239 50c obverse S-228 15c obverse auto. Colby and Spinner 5-244 50c obverse auto. Jeffries and Spinner no signatures auto. Jeffries and Spinner auto. Jeffries and Spinner FOR SALE FRACTIONAL CURRENCY * * VERY RARE TREASURY ISSUED "MINT SET" * * The first three issues (26 Pcs.) crisp as sold in 1867. This set was then sold at $6.65 to collectors. The original envelope and the descriptive folder are in- cluded. A very choice and desirable set. Price complete $875.00. * * * SPECIMENS Wide margin and Narrow margin - many in stock - * * WANT LISTS SOLICITED * REGULAR ISSUES-Friedberg and Rothert Numbers 3c 1258 115 New 4.50 1313 16 Vg-Fi 17.50 Fr. # Roth. # 1259 116 New 8.50 1318 38 New 19.00 1226 44 New 10.00 1261 118 New 4.75 1321 41 New 60.00 1227 43 New 20.00 1265 135 XF 3.00 New 4.50 1322 42 New 42.50 5c 1266 136 New 4.50 1328 99 New 25.00 1228 1 New 29.00 15c 1329 100 New 40.00 1229 2 VF 8.50 New 29.00 1267 119 New 20.00 1331 102 New 15.00 1230 3 AU 6.00 New 9.50 1268 120 New 19.50 1332 103 New 62.50 1231 4 AU 19.50 New 35.00 1269 121 AU 16.00 New 21.50 1333 104 New 17.50 1234 19 New 11.75 1271 1 23 XF 1 6.00 New 21.50 1334 105 New 22.50 1236 45 XF; 12.50 New 22.50 1272. thru 1278 WANTED 1335 106 New 17.50 1237 46 New 42.50 25c 1337 108 AU 17.50 1238 47 New 11.50 1279 9 New 35.00 1338 109 New 35.00 1239 48 XF 8.50 New 19.00 1280 10 VG 7.50 1339 110 New 23.50 10c 1281 11 XF 7.00 New 12.50 1340 111 VG ..9.75 VF 25.00 1240 5 New 29.00 1282 12 XF 15.00 Ch.AU 40.00 AU 37.50 1241 6 AU 18.50 New 29.00 1290 34 AU 19.00 New 35.00 1341 112 New 30.00 1242 7 AU 5.75 New 9.50 1291 55 New 21.00 1342 113 VG 5.50 AU 19.00 1243 8 VF 12.00 AU 25.00 1292 56 New 29.00 New 35.00 1244 21 New 7.00 1294 57 New 11.00 1355 75 New 37.50 1245 22 New 8.50 1295, 1296 58 New 13.50 1356 77 New 50.00 1246 23 New 9.00 129 7 59 Fine 12.50 VF 22.50 1360 80 New 30.00 1247 24 New 13.00 New 47.50 1364 84 New 29.00 1249 26 VF 12.50 New 37.50 1298 60 New 72.50 1365 85 AU 22.50 New 35.00 1251 49 AU 1 5.00 New 22.50 1299 61 Vf-Xf 225.00 1375 130 N e eN deewd 1252 50 New 32.50 1302 125 New 10.00 1376 131 12.50 1253 51 New 35.00 1308 137, 1309 138 New 4.50 1379 133 New 13.50 1254 52 New 55.00 50c 1380 New 11.00 1255 53 New 7.50 1310 13 New 43.50 1381 139 New 9.00 1256 54 VF 4.50 New 11.00 1312 15 AU 14.50 New 22.50 1257 114 New 4.50 THOMAS S. WERNER 505 NO. WALNUT ST., WEST CHESTER, PA. 19380 ANA 23311 ANS MANA SPMC 1230 MAJOR ERROR immito)smeditliikliiiimilw U147031313 A 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 CONTINENTAL 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. Ask for them. 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 notes on approval. we also do some busines3 in land grants, documents, stock certificates, early checks, medals, politicals, stamped envelopes, Lincolnia, maps, early newspap- ers, Civil War historical material. Correspondence invited. AMERICANA 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 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 P. S. PAPER MONEY THEODORE KEMM NOTE MISMATCHED SERIAL NUMBERS CONDITION IS STRICTLY CRISP UNCIRCULATED. $57.50 EACH Can furnish consecutive numbers. Uncirculated currency accepted at 10% over face. Will ac- cept 4 rolls Kennedy halves or 4 1964 proof sets for one of these error gems. $1 1963 FRN beginning 0000 plain or star also 1963A Fowler 0000 plain Richmond district $6 each. 1963 A $1 Fowlers from Richmond, San Francisco, Chicago 1.50 each. Richmond star notes 1.75. Will exchange. Send stamp for free price list. JAMES W. SEVILLE BOX 866, STATESVILLE, N. C. U. S. LARGE SIZE CURRENCY U. S. SMALL SIZE CURRENCY U. S. FRACTIONAL CURRENCY LIST AVAILABLE STAMP PLEASE Member Society Paper Money Collectors #630 American Numismatic Association R-53205 Reference—Northwestern Bank, Statesville 915 West End Avenue New York, N. Y. 10025 Phone—Area Code 704 873-7462 Years of research and compilation have now produced a new reference work on paper money of the North American continent. This is a manual for collectors of paper money. But it is more than that: the hun- dreds of Broken Bank Notes illustrated and priced give it unique and extraordinary interest. A Coming Paper Money Boom? Here is a volume which anticipates the 'hot" speculation about a coming boom in Taper money. The author, Grover C. Cris- well, Jr., an international expert in this field, has provided a most fascinating and care- fully documented coverage of this important section of numismatics. 5 Books in One Profusely Illustrated A nationally-known collector who saw pre-publication proofs called this work "five books in one," because of its intensive and For the Dedicated, Informed Hobbyist A Comprehensive, Up-To-Dale and Delinilive Book on NORTH AMERICAN CURRENCY Current Valuali 0 II 40 thorough exploration of all facets of Paper Currency. Among many exclusive features of North American Currency you will find how to organize and catalogue your own Bank notes . . . many other ideas which alone, are worth the price of admission. This book, which you will be proud to show to fellow collectors (but NOT to lend around, we are sure!) is excellent in print• ing, reproduction and binding. Important Current Valuations One single added feature makes this North American Currency book indispen- sable: its comprehensive and realistic cur- rent valuations. It is almost a condensed encyclopedia of the subject: 912 pages with 2,188 illustra- tions of the paper money of the United States, Canada and Mexico. The price of this comprehensive and at- tractive volume is $15.00. The edition is fairly limited. Please order your copy now. Curiosities • and values in paper money HERE ARE just two of the 2,188 illustra- tions: a curious $3.00 bill issued by the Bank of St. Mary's, Columbus, Georgia, valued at $18.00 (VG) or $22.00 (new). At right, the Hawaiian $5.00 note, 1934A Series ... value, $50.00 (VG) or $125.00 (new). Not all dol- lars depreciate, as this book, North American Currency, shows! If not on sale in your area write Krause Publications — Iola — Wis. for nearest source. TEXAS NOTES TW.1. Unc. $ 8.25 TW.2. A. U . 8.50 TW.8. X. F. 10.00 TW.11. Unc. 9.00 TW.1 1. Unc. Blue paper 10.00 TW.11A. X.F. 11.50 TW.13. Unc. (Deus) 7.50 TW.14. A.U. (Deus) 1864. 8.00 TW.16B. X.F. 35.00 TW.17. X.F . 10.00 TW.18. Unc. 14.00 TW.26. Unc. 12.00 TW.41. Unc. 68.00 TW.43. Unc. 90.00 CF.1. Unc. 30.00 HW.10. X.F. 37.50 H.17. V.F. Lamar 12.00 H.19. Houston (cut) V.F. 20.00 H.21A. V.F. 19.00 Other southern state, obsolete, and colonials in stock. RICHARD T. HOOBER P. 0. Box 196, Newfoundland, Penna. 18445. Crisp Uncirculated Bargains Donlon Number 105-1 $24.50 105-4 18.00 201-20 19.00 205-1 18.00 205-2 12.50 205-4 14.50 205-5 12.00 210-2 29.50 405B 18.75 520-6B 25.00 610-1 Fine 19.50 WANTED UnCut Sheets of Old Bank Checks. UnCut Sheets of Broken Bank Bills. UnCut Sheets of Foreign Currency. ALSO WANT Proof trade dollars of 1878, 1879, 1880, 1881, 1882, and 1883 (describe and price all material before sending) FOR SALE 60c City of Richmond Bills. Va. 2 Var.- $3.75 ea. used cond. 75c City of Richmond Bills. Va. 2 Var.- $3.75 ea. used cond. Frank F. Sprinkle P. 0. Box 864 Bluefield, W. Va. 24701 WORLD WAR H A 1,I1B MILITARY CURRENC Y_LI J ••••••■■•••■•••■N• t''....•■■■■•••■10.1...........,•••■••••■••••■•• ..... •■■■•■■•••••••■• SPECIMENS OF MILITARY YEN CURRENCY AREA A BY Complete list for five cent stamp. WANTED TO BUY - Crisp unc. U.S. currency. Send descriptive list with prices wanted or send stamp and ask for our offer. RAYMOND S. TOY • 1965 ILLUSTRATED SECOND EDITION ■•••••••••■■••■•■■■•••■•••••-•••••••••••■••■•••••••■■■••••■••••••■••■•••■■••• PIEDMONT COIN COMPANY 2324 Westover Terrace Burlington, North Carolina 27217 One Copy-$2.00 Postpaid Ten Copies-$12.50 Postpaid R. S. TOY 992 Hacienda Drive, El Cajon, Calif. 92020 RESPONSIBUT NOWLEDGE porEssioNk NUMISMATISTS %uILD-INC Bebee's. inc. "Pronto Service" 4514 North 30th Street Phone 402-451-4766 Omaha, Nebraska 68111 $1.00 FEDERAL RESERVE NOTES Last Chance to Buy at these Bargain Prices. placed with the 1963A Notes that are now Set (12) Superb centering (2/$28.95) 14.95 Set (12) Same, last two serial nos. match (2/$30.95) 15.95 SPECIAL - 5 Sets, last 2 # match 75.00 COMPLETE SET OF $1 SMALL NOTES Beautiful set of all Issues of $1 Small Notes (38). The FRB Notes are all Stars. just the one set-price includes TOM'S CURRENCY ALBUM 1095.00 Soon this 1963 Issue will disappear and be re- appearing in different regions. Set (12) Star Notes. Superb Centering 24.95 Write for Prices on 5-10-50-100 Sets. We offer an Investment Special through Oct. COMPLETE SET OF $2 SMALL NOTES Beautiful Set 1928-1963, Nice centering (13). One of the most difficult sets to complete. We have just the one set 500.00 NUMISMATIC BOOKS Know your Paper Money - It Pays! Your name in Gold FREE (also on all Paper Money Albums we stock). Please add 25c for mailing if less than $10.00. "Paper Money of the United States" (Friedberg), 5th Edition 12.50 "Donlon's Price Catalog United States Small Size Paper Money" 1.00 "A Guide Book of Modern United States Currency" (Shafer) 1.75 "North American Currency" (Criswell), U. S., Canada, Mexico obsolete paper money 912 pages, 2,997 illustrations, with prices 15.00 "The Story of Paper Money" (Reinfeld), A "Terrific" Book 3.95 "Catalogue of United States Currency" (Werlich). The latest, 1965 edition by Quaker Pub. Co. (1963 ed. now $2.95) 5.00 "Descriptive History of National Bank Notes 1863-1935" (Dillistin). The splendid work by this late great scholar, now out of print 6.00 "Depression Script of the United States" (Kappen & Mitchell) 7.50 "State Bank Notes of Michigan" (Bowen). Out of print, while few lasts 12.50 "Michigan Depression Script" (Curto). 34 pages 1.00 "Confederate & Southern States Currency" (Criswell). 1st revised Ed. 8.95 "Confederate & Southern States Currency" (Bradbeer). Reprint of the enlarged and improved edition by the late Charles E. Green. Also, contains a "1965 PRICE LIST" with Cross-index to above Criswells 5.95 "Confederate States Paper Money" (Slabaugh) 1.00 "Texas Confederate County Notes and Private Scrip" (Bieciuk & Corbin) 2.95 "U.S. Postage and Fractional Currency" (Christoph & Krause). Excellent Guide with enlarged photos. 40 pages. 81/2x11 1.00 "Guide Book of U.S. Fractional Currency" (Rothert) 1.00 "Fractional Currency" (Merkin). Excellent Priced Catalogue 2.00 "Confederate & Southern States Bonds" (Criswell). Lists $10.00. Only 7.50 "Master List of Uncut Sheets of Obsolete Bills and Old Bank Notes" (Sprinkle). Most extensive listing of uncut sheets ever published 2.00 "A History and Check List of Wooden Money" (De Bella) 2.00 "World War II Military Currency" (Toy). New 1965 Edition 2.00 "Encyclopedia of World Paper Money" (Sten) 5.00 "A Guide Book of Philippine Paper Money" (Shafer) 2.00 "Paper Money of Mexico" (Gaytan & Utberg). Out of print 9.50 TOM'S CURRENCY ALBUM Provides space for the entire issue of $1 Small Size Set of Album Pages for the new 1963A $1 Granahan- Notes. Size 10 1/2x11 1/2 12.50 Dillon Federal Reserve Notes-this set is not in- cluded in the above album 3.50 What else in Accessories? If it's for Paper Money we undoubtedly have it. Send 50c for our 108-Page Supply Catalogue (FREE with orders). ANT I would like to will take circulated for immediate payment $1 Serial Letters 1928 Legal 1928-A Tender D A (red seal) E A star note. F A 1928 S. C. I B I A Y B J A Z B K A 1928-B any after or any V A with suffix W A letter being X A a 'B'. Y A Z B 1928-C B B $2 Notes 1928-C with Letters C-A 1928-C Mule large size rev. plate # see note 1 $5 Legal Tender 1928-B Mule large size rev. plate # note 1 1928-D Mule small size rev. plate # note 2 1928-E Mule buy the following if necessary. or offer collection C D E G I J star note 1928-D E F G J B star note 1928-E F small size rev. note $5 Silver 1934 large size rev. note 1934-B small size rev. note 1934-C small size rev. note $5 Fed. Res. LIST Please as you (prefix G H J star N Q R B S B any B after any suffix B 'B' plate # 2 Cert. Mule plate # 1 Mule plate # 2 Mule Plat.: # 2 Nee United 1935 including FELLOW States Currency send me inform ation desire. Many thanks. and suffix letters B including B BB and CB any B 1935 mole nets (large size rev. plate A #) see A note 1 A N A A P A note Q A S A R A Mule star note small with any after of R A as # or 'C' above 1928-13 1934-A Mule small size rev. plate # note 2 1934-B Mule note 2 as above 1934-C Mule note 2 as above $10 Silver Cart. 1933 1933-A 1934-A Mule small size rev. plate # PAPER MONEY for my collections. as to what you have on serial #). 1935-A prior to prior MA to M A M A M A Q A N A S A P A U A D B V A E D W A star B X A 1935-A star note with any after size X A in- rev. plate eluding any see nete with suffix 2 any ef`B'or'C' note 2 1934 yellow seal 1934-B Mule small size rev. plate # note 2 $20 Fed. Res. Note 1925-C Anybody having any of the ?hove for sale p l ease send to me with price de- sired or write concerning the above notes. Many Thanks COLLECTORS - While prefer crisp unc. notes, and price you want or ship 1935-A K D S E yellow seal V E T E F C star B 1935-0 U E 1935-A Wide or V E Hawaii old style star D A C Margins 1935-D F C R E either type star notes G G reverse 1935-B L G with fol- C D M G lowing re- M D star C verse plate N D 1935-0 #'s star A Narrow or 5015 1935-C New Style 5016 Margins 5017 NOTE 1-The reverse Plate Number on these notes will be of the size found on pr - snt. day notes and of the size of most notes beginning with 1935-A (1934-A). Some notes of each earlier series carried this size plate #. NOTE 2-The reverse plate numbers of these notes are of the small type usu- ally found on the 1934 (1935) and earlier series although some notes of each later series appear to also have 1928-C them. LEON J. GOODMAN, 63 E. 9th St., NEW YORK, N. Y. 10003 MEMBER ANA, SPMC, Etc. Acceptance subject to price being satisfactory, of course. LARGE SALE OF SMALL SIZE CURRENCY $1 SILVER CERTIFICATE G/VG F VF XF/AU CU $10 SILVER CERTIFICATES Series G/VG F VF XF/AU CU 1928-C 6.50 8.50 10.00 12.00 VG/F VF XF/AU CU 1928 3.00 4.00 6.00 10.00 14.00 1928-0 6.00 7.50 10.00 1934 20.00 25.00 30.00 1928-A 2.25 3.00 4.00 6.00 8.00 1928-E 10.00 15.00 20.00 25.00 50.00 1934 1928-B 2.50 3.50 4.50 7.50 10.00 1928-F 4.00 6.00 7.50 12.00 Large Size 1934 2.50 3.50 4.50 7.50 10.00 3.50 4.50 5.50 7.50 Rev. Plate # 25.00 30.00 1935 2.50 4.00 6.00 1928-0 1934-A 18.00 20.00 25.00 30.00 1935-A 2.00 2.50 3.00 3.75 4.50 Small 12.00 20.00 1934-C 17.50 22.50 1935-B 2.25 3.50 Size Rev. 1934-D 17.50 22.50 1935-C 2.00 3.00 4.00 Plate # 1953-B (only 1 to a customer) 35.00 1935-D (Wide) 2.00 3.00 4.00 5.00 $5 LEGAL TENDER (Red Seal) 1934-A 1935-D (Narrow) 1.85 2.50 3.50 4.53 G/VG F VF XF/AU CU Yellow Seal 17.50 20.00 23.50 1935-E 1928 11.00 12.50 15.00 1935-F 1925-A 15.00 17.50 22.50 35.00 MISCELLANEOUS small size notes 1935-G NM 2.00 2.25 3.00 1928-B 11.00 12.50 15.00 27.50 VG/F VF 1935-H 265 1928-C 10.00 11.00 12.50 15.00 25.00 $10 gold seal 25.00 35.00 1935-A a few sets in VG/F by the 1928-0 17.50 20.00 25.00 37.50 50.00 $20 gold seal 35.00 50.00 set 45.00/pair. individually 25.00 each 1928-E 10.00 11.00 12.50 15.00 $20 19.4-A Hawaii 30.00 40.00 1928-F 8.00 10.00 12.00 14.00 $5 SILVER CERTIFICATES (Blue Seal) $2 LEGAL TENDER (Red Seal) VG/F VF XF/AU CU G/VG F VF XF/AU CU 19:4 10.00 12.50 27.50 BOOKS and ACCESSORIES 1928 10.00 15.00 20.00 1934-A 8.00 10.00 15.00 22.50 DONLON U.S. Small Size Paper Money 1.00 1928-A 15.00 25.00 35.00 1934-B 15.00 20.00 40.00 55.00 FRIEDBERG Paper Money of the U.S. 12.50 1934-C 8.00 10.00 15.00 SHAEFER Guide Book Modern U.S. currency 1.75 193e-D 8.00 10.00 12.00 ACETATE Holders for present day bills 10c each 1934-A (Orders for supplies or books alone must con- Yellow Seal 12.00 15.00 18.00 tain postage.) CONDITIONS OF SALE 1. You must be satisfied. If notes do not time for clearance. All orders with M.O. 4. N - w Ycrk City residents must add 5% meet your specifications return within 10 sh.pped within 48 hours. sales tax. days for full refund. 5. Make all checks payable to Elgee Coin. 2. Cash, check, or money order must accompany 3. Orders under $20 add 50c for mailing and 6. Want lists of block collectors solicited. How all orders. On personal check please allow insurance. can we serve you? WE WANT TO BUY We wish to buy the following currency, much of which we will buy in all conditions. Please state quantity and price wanted or send for offer All Large Size Currency $2 1928 Series $10 FRN All Fractional Currency 1928, A, B, E Hawaii Hawaii $1 $5 L. T. (Red Seal) $10 Silver Certificate 28 Series 1928 L. T. 1928, A, D 1933, $20 FRN1928, A, B, C, D, E, $5 Silver Certificates 1934 1934 B 1934 B 28 C 1935, A, B, Yellow Seal Yellow Seals Hawaii Notes Yellow Seal. Hawaii, R & S $5 FRN 1953 A, B ELGEE COINS P. 0. BOX 388, COOPER STATION NEW YORK, N. Y. 10003 Scarce Texas Currency REPUBLIC OF TEXAS - - ISSUED FROM AUSTIN S 1.00 Indian Brave Left Fine £10.00 Very Fine 515.00 5.00 Indian Brave Seated Fine 9.75 Very Fine 12.50 10.00 Hercules at Left Fine 9.75 Very Fine 12.50 20.00 Ind an Left Fne 9.75 Very Fine 12.50 50.00 Steamship Fine 9.75 Very Fine 12.50 GOVERNMENT OF TEXAS 10.00 Ship Left-Lamar Signature Fine 9.75 Very Fine 13.50 Houston Signature Fine 12.25 Very Fine 15.75 50.00 Sailor & 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 Fin,, 17.75 Very Fine 22.50 50.00 Criswell AW4 Fine 18.00 Very Fine 23.50 Complete set of Navy Notes AW 3 & 4 Fine 32.50 Very Fine 41.50 REPUBLIC OF TEXAS BONDS 5320.00 Texian Loan, Criswell 36A, First Texas Bond. Signed by Stephen F. Austin Ext. Rare, small triangle cut cancel missing. Nice appearing - $112.50 5100.00 Republic of Texas, old mill at center Very Fine 17.50 500.00 Republic of Texas, Mercury & Sailor, Fine cut cancel 17.50 COUNTY NOTE - CIVIL WAR - UNCUT SHEET Washington County, Texas, Uncut Sheet of Four Notes, S.50; 1.00; 2.00; 3.00; Unc. Unsigned 17.50 Other Texas Items For Sale; Texas Residents Add 2% Sales Tax John N. Rowe III, P. 0. Box 2381, Dallas, Texas 75221 ANOTHER IMPORTANT COLLECTION OF UNITED STATES CURRENCY! THIS COLLECTION OF EAUTIFUL NOTES pRoffSSIO Nk NuMISMIITISTs su i ID ° 1 " WILLIAM P. DONLON United States Currency Exclusively and Full Time! P. 0. BOX 144 UTICA, NEW YORK, 13503 Phone 315-735-2525. S.P.M.C. No. 74 A.N.A. No. 4295 Life Member No. 101 DONLON JUST PURCHASED ,--, ADDED TO MY LARGE STOCK OF LARGE AND SMALL UNITED STATES CURRENCY will enable me to supply you with many numbers now missing from your collection. WANT LISTS SOLICITED for large, small and fractional. FREE to members of Society of Paper Money Collectors, complete listing of hundreds of large and small U. S. Currency. Large stamped (10c1 addressed envelope appreciated. COLLECTORS OF SMALL SIZE NOTES NEED BOTH OF THESE BOOKS: Hewitt's "Small Size U. S. Paper Money" by William P. Donlon. $1.00 Whitman's "Modern Size U. S. Currency" by Neil Shafer and William P. Donlon" $1.75. Both books ordered at one time $2.55. These well known publishers use the DONLON SIMPLIFIED NUMBERING SYSTEM. Don't you wish everyone did? Always Ready To Buy Choice U. S. Currency? No Collection Too Large or Too Small. • _ • III