Paper Money - Vol. LVII, No. 3 - Whole No. 315 - May/June 2018

Paper Money Vol. LVII, No. 3, Whole No. 315 www.SPMC.org May/June 2018 Official Journal of the Society of Paper Money Collectors All roads lead to Kansas City June 7-10 800.458.4646 West Coast Office ? 800.566.2580 East Coast Office 1231 E. Dyer Road, Suite 100, Santa Ana, CA 92705 ? 949.253.0916 123 West 57th Street, New York, NY 10019 ? 212.582.2580 Info@StacksBowers.com ? StacksBowers.com California ? New York ? New Hampshire ? Hong Kong ? Paris SBG PM ANA2018 180328 America?s Oldest and Most Accomplished Rare Coin Auctioneer Peter A. Treglia LM #1195608 John M. Pack LM # 5736 Peter A. Treglia John M. Pack Brad Ciociola Peter A. Treglia Aris MaragoudakisJohn M. Pack Brad CiociolaManning Garrett LEGENDARY COLLECTIONS | LEGENDARY RESULTS | A LEGENDARY AUCTION FIRM T-2. Confederate Currency. 1861 $500. PMG Very Fine 30. Realized $39,950 T-31. Confederate Currency. 1861 $5. PCGS Choice About New 58. Realized $30,550 Fr. 128. 1875 $20 Legal Tender Note. PCGS Gem New 66 PPQ. Realized $32,900 Fr. 169. 1875 $100 Legal Tender Note. PMG Very Fine 25 Net. Realized $24,675 Fr. 1192. 1882 $50 Gold Certificate. PMG Very Fine 30. Realized $28,200 Fr. 2200-C. 1928 $500 Federal Reserve Note. Philadelphia. PMG Gem Uncirculated 65 EPQ. Realized $21,150 Fr. 2200-Ldgs. 1928 $500 Federal Reserve Note. San Francisco. PMG Gem Uncirculated 66 EPQ. Realized $25,850 Fr. 2211-A. 1934 $1000 Federal Reserve Note. Boston. PCGS Gem New 66 PPQ. Realized $19,975 Fr. 2220-F. 1928 $5000 Federal Reserve Note. Atlanta. PCGS Very Fine 30 PPQ. Realized $129,250 Deadwood, South Dakota. $10 1882 Brown Back. Fr. 487. The American NB. Charter #4983. PCGS Very Fine 30 PPQ. Serial Number 1. Realized $64,625 Spearfish, South Dakota. $10 1902 Red Seal. Fr. 614. The American NB. Charter #8248. PMG Choice Very Fine 35. Realized $37,600 Bellingham, Washington. $10 1902 Red Seal. Fr. 613. The First NB. Charter #7372. PCGS Extremely Fine 45 PPQ. Realized $39,950 Now Accepting Consignments to our Official Auction of the ANA World?s Fair of Money Stack?s Bowers Galleries continues to realize strong prices for currency, as shown by these results from our 2017 ANA World?s Fair of Money auction. When the time comes for you to sell, let us put our world renown expertise to work for you. Whether you have an entire cabinet or just a few duplicates, the experts at Stack?s Bowers are just a phone call away and ready to assist you in realizing top dollar for your currency. Auction: August 14-18, 2018 | Consign U.S. Currency by: June 15, 2018 Call one of our currency specialists to discuss opportunities for upcoming auctions. They will be happy to assist you every step of the way. 800.458.4646 West Coast Office ? 800.566.2580 East Coast Office Society of Paper Money Collectors Officers and Appointees ELECTED OFFICERS: PRESIDENT--Shawn Hewitt, P.O. Box 580731, Minneapolis, MN 55458-0731 VICE-PRESIDENT--Robert Vandevender II, P.O. Box 2233, Palm City, FL 34991 SECRETARY--Jeff Brueggeman, 711 Signal Mtn., Rd. #197, Chattanooga, TN 37405 TREASURER --Bob Moon, 104 Chipping Court, Greenwood, SC 29649 BOARD OF GOVERNORS: Mark Anderson, 115 Congress St., Brooklyn, NY 11201 Robert Calderman, Box 7055 Gainesville, GA 30504 Gary J. Dobbins, 10308 Vistadale Dr., Dallas, TX 75238 Pierre Fricke, Box 1094, Sudbury, MA 01776 Loren Gatch 2701 Walnut St., Norman, OK 73072 Joshua T. Herbstman, Box 351759, Palm Coast, FL 32135 Steve Jennings, 214 W. Main, Freeport, IL 61023 J. Fred Maples, 7517 Oyster Bay Way, Montgomery Village, MD 20886 Michael B. Scacci, 216-10th Ave., Fort Dodge, IA 50501-2425 Wendell A. Wolka, P.O. Box 5439, Sun City Ctr., FL 33571 APPOINTEES: PUBLISHER-EDITOR--Benny Bolin, 5510 Springhill Estates Dr. Allen, TX 75002 ADVERTISING MANAGER--Wendell A. Wolka, Box 5439 Sun City Center, FL 33571 LEGAL COUNSEL--Robert J. Galiette, 3 Teal Ln.,ssex, CT 06426 LIBRARIAN--Jeff Brueggeman, 711 Signal Mountain Rd. # 197, Chattanooga, TN 37405 MEMBERSHIP DIRECTOR--Frank Clark, P.O. Box 117060, Carrollton, TX, 75011-7060 IMMEDIATE PAST PRESIDENT--Pierre Fricke WISMER BOOK PROJECT COORDINATOR--Pierre Fricke, Box 1094, Sudbury, MA 01776 The Society of Paper Money Collectors was organized in 1961 and incorporated in 1964 as a non-profit organization under the laws of the District of Columbia. It is affiliated with the ANA. The Annual Meeting of the SPMC i s held in June at the International Paper Money Show. Information about the SPMC, including the by-laws and activities can be found at our website, www.spmc.org. .The SPMC does not does not endorse any dealer, company or auction house. MEMBERSHIP?REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral character. Members of the ANA or other recognized numismatic societies are eligible for membership. Other applicants should be sponsored by an SPMC member or provide suitable references. MEMBERSHIP?JUNIOR. Applicants for Junior membership must be from 12 to 17 years of age and of good moral character. Their application must be signed by a parent or guardian. Junior membership numbers will be preceded by the letter ?j? which will be removed upon notification to the secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or vote. DUES?Annual dues are $39. Dues for members in Canada and Mexico are $45. Dues for members in all other countries are $60. Life membership?payable in installments within one year is $800 for U.S.; $900 for Canada and Mexico and $1000 for all other countries. The Society no longer issues annual membership cards, but paid up members may request one from the membership director with an SASE. Memberships for all members who joined the S o c i e t y prior to January 2010 are on a calendar year basis with renewals due each December. Memberships for those who joined since January 2010 are on an annual basis beginning and ending the month joined. All renewals are due before the expiration date which can be found on the label of Paper Money. Renewals may be done via the Society website www.spmc.org or by check/money order sent to the secretary. Pierre?Fricke?Buying?and?Selling!? 1861?1869?Large?Type,?Confederate?and?Obsolete?Money!? P.O. Box 1094, Sudbury, MA 01776 ; pierrefricke@buyvintagemoney.com; www.buyvintagemoney.com And many more CSA, Union and Obsolete Bank Notes for sale ranging from $10 to five figures ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 153 Terms?and?Conditions? PAPER MONEY (USPS 00-3162) is published every other month beginning in January by the Society of Paper Money Collectors (SPMC), 711 Signal Mt. Rd #197, Chattanooga, TN 37405. Periodical postage is paid at Hanover, PA. Postmaster send address changes to Secretary Jeff Brueggeman, 711 Signal Mtn. Rd, #197, Chattanooga, TN 37405. ?Society of Paper Money Collectors, Inc. 2014. All rights reserved. Reproduction of any article in whole or part without written approval is prohibited. Individual copies of this issue of PAPER MONEY are available from the secretary for $8 postpaid. Send changes of address, inquiries concerning non - delivery and requests for additional copies of this issue to the secretary. PAPER?MONEY? Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. LVII, No. 3 Whole No. 315 May/June 2018 ISSN 0031-1162 MANUSCRIPTS Manuscripts not under consideration elsewhere and publications for review should be sent to the Editor. 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Benny Bolin, Editor Editor Email?smcbb@sbcglobal.net Visit the SPMC website?www.SPMC.org George Blake & Fancy Serial Numbers Peter Huntoon .............................................................. 156 Third Issue Fractional Errors?Part I Rick Melamed ............................................................... 163 Mormon Currency of Nauvoo Illinois Douglas Nyholm ........................................................... 173 2711 Note Survey on T-64 CSA $500 Notes Steve Feller .................................................................. 180 First the Note; Then the Man Lee Lofthus ................................................................... 186 The Cooper Shop Volunteer Refreshment Saloon Robert Gill .................................................................... 188 A Couple of Paper Money Errors Peter Huntoon ............................................................. 190 Kansas City IPMS Info ......................................................... 194 Uncoupled Joe Boling & Fred Schwan ................................. 197 Editor?s Report ..................................................................... 202 Small Notes?Treasury Announced New $20 Backs ........... 204 Interesting Mining Notes?David Schenkman .................... 208 Obsolete Corner--Robert Gill ............................................... 210 Chump Change--Loren Gatch .............................................. 212 Presidents Message ............................................................ 213 New Members ........................................................................ 214 Money Mart ............................................................................. 215 ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 154 September 20-22, 2018 West Coast Auction, Santa Clara, CA March 28-30, 2019 Offi cial 2019 ANA National Money Show Auction David L. 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Consign with The Offi cial Aucti oneer of the ANA Nati onal Money Shows? Let Kagin?s tell your personal numismati c story and create a lasti ng legacy for your passion and accomplishments! Kagin?s has handled over 99% of the coins listed in The Guide Book of U.S. Coins from Colonials to Pioneer and 99% of the currency listed in Paper Money of the United States from Fractional to Errors. ?? Check out our NEW website or contact us for our latest off erings. We also handle want lists and provide auction representation. Because Kagin?s only produces two auctions a year, your consignment will receive up to four months of innovative and unprecedented ? promotion including non-numismatic venues like Amazon.com. But space is limited as we are planning only two 500 lot sessions and we don?t run duplicates of very rare coins. So contact us today! ?? ? 1% credit back on all purchases through the Kagin?s Auction Loyalty ProgramTM ? Free memberships in a number of coin clubs and associations. ? Free references works (some worth over $200) to successful buyers of certain types of coins. ? Free grading initiatives for consignors and buyers from NGC and PCGS. Kagin-PM-NMS-Cons-Ad-02-22-18.indd 1 2/22/18 2:19 PM George Blake and Fancy Serial Numbers Have you ever wondered where your large size notes with fancy serial numbers came from? Sure, maybe you have traced some back to the famous 1946 Albert A. Grinnell sales or some other early sale, but what I am asking is do you have a clue just who first acquired them from the banks and who placed them in those famous early collections? Feast your eyes on the photo of George Blake and one of his flyers that accompany this article. Blake was a primary source for those notes and his flyer was one means that allowed him to corral the notes. Blake was very active at the turn of the last century. He remained a major force well into the small note era until he died in 1955. He was at the epicenter when many of your fancy numbered $1 1899 and 1923 sliver certificates were saved as well as other large size type notes of similar vintage. The advent of the small size notes in 1928 spurred him on to even greater accomplishments. Reader Gregory Branan purchased an original copy of a classic numismatic book that Blake self-published in 1908 entitled: ?United States paper money; a reference list of paper money, including fractional currency, issued since 1861, also a list of United States coins issued by the U. S. mints since their organization,? which was a detailed 69-page listing. When Greg opened it, out fell the yellowed flyer! What a piece of numismatic history - an item that is far rarer than the book! Blake distributed this flier and others to anyone who would take them, but especially to cashiers in big city banks who handled lots of new money. No one was paying much attention to currency before the 1960s so many of the recipients looked at his offer as a great opportunity. You can be certain that a fair percentage of the early low and fancy serials you have came from Blake Of course, he wouldn?t turn down a rare early type note that came his way either. The fact is he assembled a vast type note collection. If you use Martin Gengerke?s census and search for notes owned by Blake, that search will walk you through the Friedberg numbers, many with terrific serial numbers. There were a few serious collectors fooling with currency back then, but you could almost count them on the fingers of one hand. Gengerke?s census reveals that Blake funneled a lot of great notes to all of them, many of which had fancy or low serial numbers. He was in an excellent position to buy good material. His home was Jersey City, NJ, a hop, skip and jump from Manhattan where the huge commercial banks were handling the bulk of the nation?s currency. In this regard, he was better situated than other vintage notables who liked currency and serial numbers. Contrast his location to that of someone like William Philpot who was based in Dallas, which ranked as a backwater in terms of currency. Blake?s greatest currency coup, and the thing that forever earned him the gratitude of all of us, was his cultivation of Col Edward Green. Green was a contemporary who loved low serials and ultimately made The Paper Column by Peter Huntoon Figure 1. George Blake. Photo used in his obituary in The Numismatist (1956). ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 156 Figure 2. George Blake?s flyer, circa 1908, offering to buy fancy serial numbers. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 157 his name in U. S. currency as the premier collector of the all-time greatest trove of serial number 1 Series of 1929 national bank note sheets ever assembled. Blake was his supplier. What they accomplished together was beyond anyone?s wildest dreams. I have profiled that story previously, so I?ll provide only a brief refresher here. According to William Philpot, Blake sold Green on the idea that the number 1 uncut 6-subject sheets of nationals, which were going to be released beginning in 1929, afforded Green an opportunity to get in on the ground floor as they came out. Green agreed and so he commissioned Blake to solicit them from the bankers on his behalf. Blake sent letters to bankers across the country offering to buy their number 1 sheets as follows: $5s @ $37.50, $10s @ $66 and $20s @ $125 for a total of $228.50 for the three. This represented an $18.50 profit for the bankers. He was able to purchase them by the hundreds. It was the middle of the Great Depression so the bankers saw the premium as found money. As soon as he got them he delivered them to Green for $5s @ $50, $10s @ $80 and $20s @ $145 for a profit of $46.50. Green died in 1936 but the number 1 sheets lingered in his estate well into the 1940s. His estate offered them to large numismatic buyers at a pittance over face but there was virtually no interest. Finally the bulk of the sheets was deposited in a New York bank and sent over to the Federal Reserve Bank of New York for eventual redemption. But then a miracle occurred. Instead of forwarding them to the Treasury for redemption, the cashier of the New York Fed offered the sheets to the cashiers of the other Federal Reserve Banks around the country at face with the suggestion that they in turn offer them back to the issuing banks in their districts as a courtesy. Many hundreds of the sheets were disbursed in this fashion. But then again even greater numbers simply were forwarded on to the Treasury for destruction because there were no takers thanks to other Fed cashiers not wanting to be bothered or lack of interest on the part of bankers in the districts that would handle the sheets. But the hoard had survived its most critical hurdle and this was what made it so significant. The Colonel?s estate had saved the sheets into the mid-1940s and the sheets didn?t start returning to bankers around the country until 1948. National bank notes ceased being issued 13 years earlier, so by 1948 they began to take on novelty status. It certainly didn?t hurt that they sported all those number 1 serials either. Times were good by 1948 in stark contrast to the depths of the depression during the 1929-1935 era when the bankers were tickled to blow off the sheets to an eccentric who was willing to pay a premium for current money. Now the bankers were flush so putting away those old sheets at face caused no pain. Those that were saved have been leaking back into numismatic hands ever since. If you own a number 1 1929 national bank note or sheet, chances are more than likely it came to you via Blake and Green. Even if you bought it directly from the bank of issue, there still is a good chance that it passed through their hands. Figure 3. Blake purchased Col. Green?s number 1 Series of 1929 sheets directly from the bankers as they received their shipments from the Comptroller of the Currency between 1929 and 1935. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 158 We don?t know an awfully lot about Blake. Much of what we do know comes from a rather superficial profile that Frank Limpert included on page 69 of the 2nd edition of his 1948 book ?United States paper money old series 1861-1923 inclusive.? Blake?s photo shown here as Figure 5 is from that profile. Limpert?s book was the first catalog to illustrate notes and he utilized Blake?s classification scheme. The essence of what was said was that George Herbert Blake was born May 12, 1858, in Springfield, Massachusetts. He relocated to Jersey City when he was 16 and ultimately engaged in the sole leather and belting business for 47 years. He served as the secretary and treasurer of the National Association of Leather Belting Manufactures for 44 years. He married at 22 and had both a daughter and son. Among his collections were U. S. stamps, French glass paper weights, and U. S. coins and currency. An article that described honorary medals presented by the New York Numismatic Club in the March 1951 Numismatist has an illustration of the medal struck in Blake?s honor. His profile graces the obverse. The accompanying citation pointed out that his interest in currency began in the early 1890s, and although he extended his collecting interests to U. S. and foreign gold and silver coins, paper remained his passion. It went on to point out that his 1908 book ?was a means for creating many new collectors of paper money and establishing paper money firmly as a branch of numismatics.? He died in December 1955 at age 97. An obituary in the February 1956 Numismatist reveals that he retired from both his business and secretary-treasurer positions with the National Association of Leather Belting Manufactures in 1928. It wasn?t mentioned but he retired just in time to devote his full energies to acquiring Green?s sheets. He was 70 at the time. Smith (1992) wrote: ?he exhibited paper money including a dollar bill Series 1, plate 1, serial 1, letter A? at the 1914 ANA convention. ?At later conventions, he exhibited other unusual serial numbers.? Of course, the number 1 note mentioned was the first legal tender ever issued, a $1 1862 note that Salmon P. Chase had saved. Chase was Lincoln?s Secretary of the Treasury during the Civil War so his policies were responsible for the issuance of the note. Adding icing to that cake, he immodestly had his portrait placed on those $1s. Gerome Walton, Nebraska national bank note authority and past ANA treasurer, who assembled data pertaining to Blake for this article at the ANA headquarters, found that Blake jointed the ANA in 1907 as member 925; later becoming life member 150. He served as ANA treasurer for 26 years from 1922 to 1949. Blake was posthumously elected to the ANA Hall of Fame in 1970. Blake was a gentleman who carried himself with a poise and dignity that allowed him to gain access to and move easily among bankers and government officials. This coupled with his knowledge and the notes that he had for sale ensured that he circulated with ease among the top numismatists of his age. Underlying this demeanor was a scholar who was concerned with bringing order to the things he held dear. This not only included the paper money and coins that he collected, but also the operation of the organizations to which he belonged. Significantly he had the drive and tenacity to actually see his impulses through to completion. Figure 4. Could it be that George Blake turned up this gem? Chances are better than 50/50 that he did. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 159 The scholarly contribution that elevated Blake to the top tier of numismatists was his seminal 1908 listing of U. S. coins and currency, the most complete and authoritative work of its kind up to that point. This book had its roots in the proceedings of the 49th annual meeting of the American Numismatic and Archaeological Society held January 21, 1907. By coincidence Archaeological was dropped from the name of the organization that same year, whereby it became the American Numismatic Society that is still with us. At that meeting Blake teamed up with Henry Russell Drowne who was the corresponding secretary of the society and member of its paper money committee. Drowne was a specialist on obsolete currency. Together they profiled the paper money emissions in the United States from its inception. Blake presented a draft of his omnibus listing of types, which was published in the society proceedings. Here was a meticulous pioneer struggling to organize a confusing host of overlapping Federal currency issues that spanned 44 years. Following the established precedent of philatelists, he labeled the different series within each class as First Issues, Second Issues and so forth. He had three series to deal with when he got to national bank notes; specifically, Original/1875, 1882 brown backs and 1902 red seals. These he labeled First, Second and Third Issue nationals. Remember that this was 1907, a year before passage of the Aldrich-Vreeland Act, which gave us the date backs. Blake made no distinction between the Original and 1875 series notes. Most likely he wasn?t concerned that the Original Series was printed by the bank note companies and the Series of 1875 by the Bureau of Engraving and Printing because both looked the same. He published his seminal book a year later and by then the date backs had been issued. Blake correctly wrote that the Series of 1882 notes ?were first issued in the early ?eighties? by newly chartered banks and by old banks whose charters had been extended for another twenty years.? He understood the concept of extensions of corporate life but he didn?t spell out that the 1882 legislation provided for the first 20-year extension of corporate life or that an1902 act provided for a second 20-year extension. In an attempt to improve his bank note classification system, he redefined his former First, Second and Third Issues by minting the new terms First, Second and Third Charter Periods. Here First Charter meant Original/1875 series notes, Second meant 1882 notes and Third meant 1902 notes. What he didn?t contemplate was that collectors would associate his First Charter Notes to the 1863 and 1864 acts, Second Charter Notes to the 1882 act, and Third Charter Notes to the 1902 act. This was flatly erroneous because the series that a bank received wasn?t dictated by these acts. Instead that decision was at the discretion of the Comptroller of the Currency. Numismatists eagerly embraced Blake?s new charter period nomenclature because it was so catchy and appeared to bring order to the chaos. However, it proved to be a disaster as a classification scheme primarily because there never was such a thing as a charter period. A bank received one charter and that was it. The result is that Blake?s attractive nomenclature forever obfuscated the distinction between the concepts of stage in corporate life and the series that banks happened to be issuing. In no time numismatists equated First Charter to the Acts of February 25, 1863 and June 3, 1864 and Original and 1875 series notes, Second Charter to the Act of July 12, 1882 and Series of 1882 notes, and Third Charter to the Act of April 12, 1902 and Series of 1902 notes. None of this was true. Had Blake backed away from the philatelic precedent of trying to number the various national bank note issues but instead had used the existing Treasury series classification, we all would have been saved a lot of grief. All the catalogers starting with Friedberg in 1953 abandoned Blake?s First, Second and Third Issue classifications for type notes and instead used Treasury series as the most convenient way to classify our notes. Ironically, though, with the exception of David Bowers, catalogers still cling to the First, Second and Third Charter classification of nationals so we are still plagued with it. I doubt that it ever will go away. Decades of serious research since Blake?s time allowed us to unravel the intricacies that explain the different series and varieties found in all classes of Federal notes. Now that we possess that hindsight vision, it is a cheap shot to be critical of missteps such as Blake?s charter period nomenclature. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 160 Vote for your favorite articles and column that appeared in Paper Money as well as the Book-of-the-Year. Go to www.spmc.org/vote. You must be a member and only one voter per category. Voting closes May 15. Also vote for your favorite obsolete registry set in the Obsolete database. Go to www.spmc.org/obs/set-registry. Voting also closes on May 15. Instead I marvel at just how far this particular pioneer brought us in our understanding of our nation?s notes. The fact is that he was the first to lay a sound foundation for the categorization of both U. S. currency and coins. On May 13, 1948, one day after his 90th birthday, George Blake was honored for his contribution as ?Dean of American Numismatists? at a birthday dinner at the Robert Treat Hotel in Newark, New Jersey. The Toastmaster at the event was none other than Frederick C. C. Boyd. Boyd was a legendary professional numismatist and, incidentally, the man who cataloged Col. Green?s vast numismatic trove upon his death. I venture to say that they got Blake?s title right. Sources of Information Blake, George Herbert, 1908, United States paper money; a reference list of paper money, including fractional currency, issued since 1861, also a list of United States coins issued by the U. S. mints since their organization: Privately Published, 69 p. Drowne, Henry Russell, and George H. Blake, 1906-1907, Our paper money ?greenbacks?: Proceedings of the American Numismatic and Archaeological Society at the Forty- Ninth Annual Meeting, Monday, January 21, 1907, p. 58- 88. Erlanger, Herbert J., March 1951, Medals of the New York Numismatic Club: The Numismatist, p. 271-272. Gengerke, Martin T., on demand, U. S. paper money records, a census of U. S. large size type notes: CD produced on order, gengerke@aol.com. Huntoon, Peter, and Barbara Bedell, Jan-Feb 2009, Colonel Edward H. R. Green, collector extraordinaire, and the story of the number 1 Series of 1929 sheets: Paper Money, v. 48, p. 34-56. Huntoon, Peter, November 2012, Dispelling charter period nonsense: Bank Note Reporter, p. 24-30. Limpert, Frank Alvin, 1948, United States paper money old series 1861-1923 inclusive, 2nd edition: Privately printed, 100 p. plus addenda. Numismatic Scrapbook, May 1948, George Blake honored: p. 431. The Numismatist, February 1956, Obituaries, George H. Blake, LM 150: p. 166. Philpott, William A., Nov. 10, 1970, Why no. 1 sheets, Series 1929, are not too rare: Numismatic News, p. 14, 27. Smith, Pete, 1992, American numismatic biographies, Blake, George H.: Gold Leaf Press, Rocky River, OH, p. 31. Figure 5. George Blake at about age 90 as pictured in Limpert?s 1948 catalog. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 161 PMGnotes.com | 877-PMG-5570 United States | Switzerland | Germany | Hong Kong | China | South Korea | Singapore | Taiwan | Japan THE CHOICE IS CLEAR Introducing the New PMG Holder PMG?s new holder provides museum-quality display, crystal-clear optics and long-term preservation. Enhance the eye appeal of your notes with the superior clarity of the PMG holder, and enjoy peace of mind knowing that your priceless rarities have the best protection. Learn more at PMGnotes.com 16-CCGPA-2889_PMG_Ad_NewHolder_PaperMoney_JulyAug2016.indd 1 5/27/16 8:12 AM 3rd?Issue?Fractional?Error?Notes?(3??to?15?)???Part?1? by?Rick?Melamed? In?a?previous?edition?of?Paper?Money,?we?explored?2nd?issue?fractional?surcharge?errors.??In?this?issue?we? delve?into?3rd?issue?errors;?an?even?more?complex?subject?matter.??With?all?of?the?varieties?in?existence,?we?have? to?split?this?article?into?two?parts.??In?this?issue?we?will?explore?errors?on?the?3?to?15?cent?fractional?notes,?and?in? a?future?article?we?will?concentrate?on?the?25?cent?Fessenden,?50?cent?Spinner?and?Justice?fractionals.??? A?great?debt?of?gratitude?must?be?extended? to? the? father?of? fractional? research,?Milton?Friedberg.? ?His? reference?book? ?Encyclopedia?of?Postage?and? Fractional?Currency?? contains?extensive? research?on? all? things? fractional?with?a?portion?devoted?to?errors.??Unfortunately,?while?inverted?printing?errors?were?included,?other? types?of?errors?(i.e.:? ?offsets,?misalignments,?gutter?folds,?etc.)?were?not.? ? ?Also?the? images?contained?were? in? black?and?white?and?not?of?optimal?quality.?? We?combined?Milton?s?research?along?with?a?myriad?of?images?collected?from?several?SPMC?members?and? from? various? auction? archives.? ? The? result? is? a? profusely? illustrated? and? comprehensive? update.? ? 3rd? issue? fractionals?offer?a?type?of?error?found?nowhere?else?in?U.S.?issued?currency;?the?use?of?bronze?surcharges.??These? bronze?surcharges?were?one?of?the?many?anti?counterfeiting?measures?undertaken?by?the?U.S.?Treasury.??The? process?was?fairly?straightforward;?first?glue?was?applied?to?the?notes,?then?a?bronzing?powder?was?added.??The? bronzing?that?adhered?to?the?note?resulted?in?the?familiar?surcharges.??The?improper?application?of?glue,?as?well? as?the?multitude?of?inverted?possibilities,?produced?a?fascinating?array?of?fractional?errors.?This?array?of?bronzing? errors,?along?with?the?more?recognizable?traditional?currency?errors,?result?in?an?extensive?variety?of?error?notes.? Thanks?must?also?be?extended?to?former?FCCB?(Fractional)?President,?Tom?O?Mara;?and?SPMC?and?FCCB? former?President?and?current?editor,?Benny?Bolin,?for?their?charts?of?3rd?issue?fractional?errors.??They?ve?allowed? me?to?reprint?their?original?charts?and?combine?them?with?a?host?of?scans?to?give?us?an?updated?article.??Benny? shared?some?of?his?interesting?errors?from?his?personal?collection?for?this?article.??The?images?from?Tom?s?vast? error? collection? (auctioned? in? 2005? by?Heritage)? as?well? as? John? Ford?s? large? collection? of? error? fractionals? (auctioned?by?Stack?s?from?2004?2007)?were?also?a?huge?help.? ? 3rd? Issue?3??Errors.?Despite? lacking? the? surcharges? found?on? the?higher?denomination?3rd? issues,?3?? fractional?errors?are?quite?varied.??? Inverted?Reverse?Engraving.??Inverted?back?engravings?are?the?most?common?of?inverted?printing?errors,?as? the?error?is?simply?created?by?inserting?the?sheet?upside?down.? 3RD ISSUE - 3 CENTS Friedberg No. Three Cent Inverted Back Engraving 1226? Light Curtain Milton?3R3.1b???6?known? 1227? Dark Curtain Milton?3R3.2d???3?known? ??Fr.?1226?? ? ? ? ? ? ? ? ? ????????????Fr.?1227? ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 163 Gutter?Folds.?The?first?Fr.?1226?exhibits?a?dramatic?gutter?fold;?the?second?one?contains?a?thin,?long?gutter? fold?through?Washington?s?portrait.? ? The?following?example?of?a?gutter?fold?error?is?interesting.??The?gutter?fold?only?shows?up?on?the?reverse? but? the?obverse? shows?no? trace,? indicating? that? the? fold?occurred?between? the?printing?of? the?obverse?and? reverse.? ? Fr.?1226/Fr.?1227???3rd?Issue?3??Fractional? No? Pearls? Under? Portrait.? ? Milton? 3R3.1c.?? This?variety? is?a?minor?design?variation,? that? has?piqued?collector?s?interest?as?early?as?the? 1890s.?The??pearls??are?the?tiny?circles?beneath? the?small?diamond?below? the?bottom?center? of? Washington's? portrait.? The? ?pearls?? are? missing?only?on?plate?numbers?32?and?35?on? the?Fr.?1226? ?? ? light?curtain.? ?Subsequent? ?no? pearls??discoveries?were?found?on?the?Fr.?1227?dark?curtain?variety?(the?Fr.?1227s?were?printed?on?plate?#62?68).?? For?the?sake?of?transparency,?there?are?some?of?the?opinion?that?the??no?pearls??were?the?result?of?under?inking.? ? Inverted?Reverse?Sheet?Plate?#2.??On?the?bottom?right?corner? is?an?Fr.?1226?with?an?inverted?plate?#2.??Numbers?were?engraved? on?each?sheet?plate?as?an?accounting?method?to?track?the?plates? used.??Engraved?in?the?design?portion?of?the?plate?(rather?than?the? selvedge),? they? show?up? from? time? to? time?on? individual?notes? when?cut? from?the?sheet.? ?This? is?an?engraving?error,?and? is?the? only?plate?number?out?of?the?71?used?on?the?3??note?that?displays? an?inverted?number.?? ? ? ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 164 Fr.?1226?with?Black?Reverse?Design.?The?following?regular?issue? Fr.?1226?contains?an?intriguing?error.??The?normally?green?reverse?is? printed?in?black?ink.??Close?examination?by?the?fractional?experts?at? Heritage?indicate?that?there?is?no?trace?of?green?ink?and?they?have? self?designated?it?as?Milton?number?3R3.3.??It?seems?when?the?plate? was?prepared?for?printing,?the?worker?applied?the?same?black? ink? used?for?the?face?for?the?reverse.? ? ? Fr.? 1226? with? Cutting? Error.? The? face? is? normal,? but? the?back?of? the?note? is? shifted? enough?to?display?a?portion?of?a? second? note.? ? A? minor? error. Since?fractional?sheets?were?cut? into? individual? notes? by? hand,? we?often? see? small?parts?of?an? adjacent?note.? ? In?this?example? however,?the?fractional?was?badly?trimmed??? of? the? adjacent? 3?? note? was? left? attached.?? Perhaps?this?note?should?be?valued?at?3?????? ? ? ? ? Fr.?1226?Specimen?Error? with? Inverted? ?SPECIMEN?? Surcharge.? ? Milton? designated? this?as?#3S3R.1a? with? a? rarity? 7.? ? The? ?SPECIMEN?? surcharge? on? the? reverse? makes? for? an? interesting?oddity?especially? since? the? error? is? so? prominent?against?the?blank? back.? ? ? 3rd?issue?5??Errors.??3rd?issue?Clark?errors?are?quite? scarce.??Since?they?lack?the?bronze?surcharges?found?in? the?higher?3rd?issue?denominations,?the?amount?of?error? varieties?are?limited.??As?with?the?red?back?10??3rd?issue,? there?are?no?known? inverted?reverses?on?the?red?back? 5??Clark.? ?The?alpha?numeric?designations? listed?under? each? type? of? error? category? are? the?Milton? Friedberg? catalogue?numbers?(i.e.?3R5.2f).? ? 3RD ISSUE - 5 CENTS Five Cent Fr. No. Inverted Back Engraving Red Reverse 1236? Unknown? Red Reverse w/?a? 1237? Unknown? Green Reverse 1238? 3R5.2f???9?known? Green Reverse w/?a? 1239? 3R5.2i???4?known? ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 165 Inverted?Reverses? ? ?????3rd?Issue?5??Cutting?Errors.?This?interesting?Fr.?1238?is?a?severe?cutting? error? that? displays? portions? of? (4)? different? notes.? ? It?s? likely? that? the? person? cutting? the? sheet? into? individual?notes?wanted? to?preserve? the? sheet?plate?#26?prominently?displayed?in?the?lower?right?corner.?? ? ? ? This?Clark?note?displays?a?normal? face,?but? the?back? is?mis?cut? rather? significantly.? ? ? ? 3rd? issue?10??Errors.?Because?of?the?bronze?surcharges?on?the?10??face? (4???10?s?on?the?face)?we?have?a? possibility?of?six?surcharge?errors?per?Friedberg?number:?three?varieties?on?the?face?and?three?varieties?on?the? back.??The?headings?of?the?chart?explain?the?varieties?succinctly.??We?are?fortunate?to?have?examples?of?each?of? the? six? types? of? inverted? errors? on? the? Fr.? 1255/56. 3RD ISSUE - 10 CENTS? Fr. # Inverted Back Engraving Inverted Back Surcharges Total Back Inverted Inverted Face Engraving Inverted Face Surcharges Inverted Back & Face Surcharges 1251- 1254 There are no known red back inverts for any third issue 10 cent notes 1255 3R10.6m 3 Known 3R10.6d Reported Unknown? 3R10.6i 4 Known 3R10.6o Unique 3R10.6e 4 Known 1256 No Milt # Unique ?Unknown? 3R10.6l 1 Known Unknown? Unknown? 3R10.6f Unique ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 166 Inverted? Reverse? Engraving? and? Surcharge? Errors.? Only? the? back? design? is? inverted.? ? Note:? ? In?Milt? Friedberg?s?reference,?he?has?this?incorrectly?attributed?to?an?Fr.?1256;?it?should?be?an?Fr.?1255.? ? While?the?image?of?the?four?inverted?10?s?is?eye?catching,?in?reality?the?Fr.?1255???3R10.6i?shown?has?the? face?design?inverted;?the?rest?of?the?note?is?correct.??? ? Slightly?different?than?the?note?shown?above,?this?example?has?just?the?face?and?back?surcharges?inverted.? ? This?example?from?the?Stack?s?Ford?sale?was?unknown?to?exist?until?it?appeared?in?2005.??The?face?of?the?Fr.? 1256???3R10.6l?is?normal;?the?back?design?and?surcharges?are?inverted.?? ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 167 The?following?inverted?error?has?the?front?and?back?surcharges?inverted.??It?is?a?unique?as?an?Fr.?1256;?the? Fr.?1255?with?inverted?surcharges?has?4?known?examples.??? ????????????????????? The? last?surcharge?error?note,?which?pedigrees? to?the? January?1997?Milton?Friedberg?sale,? is?a?stunning? error.??With?no?bronze?surcharges?on?the?front?and?the?back,?it?could?be?considered?a?double?error.??? ? Shifted?Surcharges.??The?four?10?s?are?shifted?dramatically?up?and?to?the?left?on?the?note?on?the?left?and?the? ?10??bronze?surcharge?on?the?reverse?of?the?following?fractional?is?shifted?so?low?that?it?nearly?touches?the?bottom? margin.?Also,?please?notice?that?on?the?very?top?margin,?the?bottom?of?the?bronze??0??from?the?note?above?(as? positioned?on?the?sheet)?is?displayed.?? ? ? ? ? ? ? ? ? ? Fold?Over?Error.??This?slight?fold?over?error?on?the? Fr.?1255?has?the?bottom?right?corner?missing?part?of?the? design.? ? ? ? ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 168 Gutter?Fold?Error.??The?note?shown?has?a?long?horizontal?gutter?fold?on?the?base?of?the?note.??It?is?clearly? evident?on?the?front?and?back.? ? ? ? ? Offset?Error.??This?spectacular?offset?error?not?only?has?the? face?design?offset?on?the?back?(indicated?by?the?mirror?image?of? the?obverse?design),?but? it?also? lacks? the?bronze? surcharges.?? While? offset? errors? are? common? on? small? sized? notes,? on? fractionals?they?are?exceptionally?rare.? ? ? Plate?Numbers?Errors.? ?The? first?plate?number?error?note? is?an?Fr.?1255?WM?REV?green?specimen?with? inverted?sheet?plate?number?11.? ?The? second?example? is?an?Fr.?1251?WM?REV? red?specimen?with? the? same? inverted??11?.??It?is?the?only?known?3rd?issue?red?back?fractional?with?an?inverted?plate?number.??Note?the?long? tails?of?the??11?.??The?Fr.?1255?reverse?(right)?displays?a?prominent?inverted?plate?number?83?on?the?bottom?right? corner.? ? ? ? This?plate?number?error?note?is?very?unusual.??It?contains? two?(2)?plate?numbers?and?should?be?classified?as?an?engraving? error.? ?Apparently? the?engraver,? in? a? glaring?memory? lapse,? etched?plate?#6?on?the?sheet?twice.??The?bottom?margin?of?the? note?has?a?rather?wide?selvedge?ensuring?both?plate?numbers? were?captured.????? ? ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 169 ? Signature?Errors.? ?Since?this?series?was?hand?signed,?the? omission? of? the? titles? and? the? autographs? opens? up? several? error?possibilities.? ? ?The? first?example? is?missing? the?Register? signature?(on?the?bottom?left)?which?would?have?been?or?Colby? (Fr.?1253)?or?Jeffries?(Fr.?1254)? ? ? The? Fr.? 1254? shown? is? missing? the? usually? ubiquitous? Spinner?signature?on?the?bottom?right:? ? ? ? The?third?missing?signature?example?is?a?red?back?3rd?issue? 10??fractional?missing?both?signatures?and?their?titles.??It?could? be? either? an? Fr.? 1253? (Colby/Spinner)? or? an? Fr.? 1254? (Jeffries/Spinner).??According?to?Milton?Friedberg,?this?example? is?considered?unique.? ? ? The? final?signature?error?may?not?really?be? an?error,?but? it? is?certainly?unusual.? ? It?contains? extra? verbiage? under? the? signatories.? ? Usually? under? Colby?s? or? Spinner?s? name? would? be? ?Register??and??Treasurer?.??In?this?example,?under? Colby?s? name? is? his? full? title,? ?Register? of? the? Treasury?;?under?Spinner?s?name?hand?written?is? ?Treasurer? of? the? U.S.?? ? There? is? some? debate? whether?Jeffries,?Spinner?and?Colby?signed?every? single?note;?perhaps?an?able?assistant?took?on?the? perfunctory?duties?of?signing?thousands?of?notes.? A? newly? hired? underling? easily? could? have? inserted? the? full? titles? instead? of? the? usual? ?Register??and??Treasurer.?? ? ? Since? it? is? difficult?to?see,? we?ve? greatly? enlarged? the? image.? ? ? ? ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 170 ? Printed? Flaw.? The? back? of? this? Fr.? 1251? has? an? unidentified?printed?flaw?on?the?back.?It?appears?to?be?some? type?of?offset.? ? ? ? ? Missing? Bronze? ?SPECIMEN??Imprint.??A?rare? error? ?? Specimen? reverses? almost? always? have? the? bronze? ?SPECIMEN?? imprinted? on? the? blank? back.? ?The?example?on? the? left?does?not;? the?red?back? specimen? reverse? on? the? right?is?the?correct?depiction.? ? Excessive?Ink?Error.? ?The?following?note?displays?excessive? ink;? likely? caused?by? the?plate?not?being?properly?wiped?down?before? being?printed.? ? ? ??????15??Grant/Sherman?Error.?There?is?only?one?known?Grant/Sherman?15??Specimen?error.??Grant/Shermans? all?have?either?autographed?or?printed?signatures.???But?not?in?this?case.?Displayed?on?the?left?is?a?normal?Fr.?1274? with?Jeffries?and?Spinners??signature.? ?The?error?note?on?the?right? is?an?unsigned?example?(Milton?#?3S15F.5).?? The?lack?of?signatures?usually?found?under?the?portrait?is?glaring?in?its?omission.? ?? ? ? ? ? ? This?concludes?the?first?part?of?3rd?issue?fractional?errors.??Look?for?part?2?in?this?magazine?in?the?near?future.??? ? Thanks?to?Martin?Gengerke?and?Benny?Bolin?who?shared?many?images?of?rare?errors,?to?Jerry?Fochtman?the? Fractional?Newsletter?editor?(FCCB),?to?Stacks?Bowers?and?Heritage?for?use?of?their?auction?archives?and?to?the? currency?community?whose?interest?in?all?type?of?errors?remains?strong.???Thanks?to?my?son?David?Melamed;?his? excellent?editing?skills?continue?to?be?very?helpful?in?my?articles.??Finally,?thanks?are?to?be?extended?to?Len?Glazer? of?Heritage? for?his?guidance?and? support.? ?Len?authored? the?auction?catalogue?of? the?Milt?Friedberg? sale? in? January?1997;?one?of?the?all?time?great?fractional?references?and?a?must?have?in?any?fractional?library.??My?hard? cover?copy?has?been?used?so?much,?I?had?to?have?it?rebound?last?year.? ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 171 Lyn Knight Currency Auct ions If you are buying notes... You?ll find a spectacular selection of rare and unusual currency offered for sale in each and every auction presented by Lyn Knight Currency Auctions. Our auctions are conducted throughout the year on a quarterly basis and each auction is supported by a beautiful ?grand format? catalog, featuring lavish descriptions and high quality photography of the lots. Annual Catalog Subscription (4 catalogs) $50 Call today to order your subscription! 800-243-5211 If you are selling notes... Lyn Knight Currency Auctions has handled virtually every great United States currency rarity. We can sell all of your notes! Colonial Currency... Obsolete Currency... Fractional Currency... Encased Postage... Confederate Currency... United States Large and Small Size Currency... National Bank Notes... Error Notes... Military Payment Certificates (MPC)... as well as Canadian Bank Notes and scarce Foreign Bank Notes. We offer: Great Commission Rates Cash Advances Expert Cataloging Beautiful Catalogs Call or send your notes today! If your collection warrants, we will be happy to travel to your location and review your notes. 800-243-5211 Mail notes to: Lyn Knight Currency Auctions P.O. Box 7364, Overland Park, KS 66207-0364 We strongly recommend that you send your material via USPS Registered Mail insured for its full value. Prior to mailing material, please make a complete listing, including photocopies of the note(s), for your records. We will acknowledge receipt of your material upon its arrival. If you have a question about currency, call Lyn Knight. He looks forward to assisting you. 800-243-5211 - 913-338-3779 - Fax 913-338-4754 Email: lyn@lynknight.com - support@lynknight.c om Whether you?re buying or selling, visit our website: www.lynknight.com Fr. 379a $1,000 1890 T.N. Grand Watermelon Sold for $1,092,500 Fr. 183c $500 1863 L.T. Sold for $621,000 Fr. 328 $50 1880 S.C. Sold for $287,500 Lyn Knight Currency Auctions Deal with the Leading Auction Company in United States Currency Mormon Currency of Nauvoo Illinois by Douglas Nyholm Not much is written about the scrip and currency which was issued in Nauvoo by the Mormons in the 1840?s. Nauvoo was a significant stop for the Saints on their way to Salt Lake from Ohio. They issued Kirtland banknotes from their bank in Kirtland and significant currency, scrip, gold and other specie in Salt Lake City and surrounding areas but the issuance from Nauvoo was quite different and far less has survived. I will attempt to explain exactly what was issued in Nauvoo and the rarity of these unusual issues. First, for the most part, the Nauvoo issues look quite different from most currency one is familiar with. There are several issues that are denominated and appear similar to obsolete scrip and currency but the majority appears more like stock certificates. Even though their appearance is similar to stock and we generally don?t consider stock certificates to circulate as cash that is exactly what occurred in Nauvoo. One of the first issued documents was that of the ?Nauvoo House Association.? These certificates were issued in order to sponsor a hotel which was to be built. They were printed in a very unusual manner, two to a sheet but with one on each side allowing for them to be cut apart. For the original issue, or first printing, both notes were valued at $50. The authorizing signatures were John Snider and George Miller. This was the first type of Nauvoo House scrip whereas the second type was a much more ornately designed and printed bill. Both, were however valued as stock. This second type was printed in values of $50 and $100, also two to a sheet. The printing however was done only on one side this time. The first type of certificates were signed and apparently issued subsequently as circulating specie, but the second type does not appear as though they were ever issued as no signed notes are known. Both of these Nauvoo House issues are of the most common of anything to survive from Nauvoo and both are available as uncut sheets and as individual certificates. The remaining items to be discussed are all very scarce to very rare. In over 20 years of researching Mormon currency several different known types have never appeared at a major auction. NAUVOO CITY SCRIP There are two types of Nauvoo City? scrip which are similar and represent a One Dollar banknote. Signatures on these notes are notable and very important to Mormon collectors. Both types of these notes are signed by James Sloan as ?Recorder.? Sloan held several Church positions including Recorder, Nauvoo Legion Secretary, and Judge. Other signatures on these notes are those of the Mayors of Nauvoo of which the office was held at different times by both John C. Bennett and Joseph Smith Jr. whom Bennett ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 173 succeeded as mayor. The notes with Bennett?s? signature are more common than those signed by Joseph Smith, Jr. An exact census of these notes has not been accomplished but surviving city scrip notes most likely does not exceed two dozen examples for both types. There was a severe lack of specie in Nauvoo and these notes acted as such and were readily used by the residents. One documented use was for payment of subscriptions to the local newspaper. These notes, as well as any other Nauvoo scrip and currency were not backed by specie or any other monetary backing. Issuance was likely small as the highest noted serial number is #388. NAUVOO LEGION The Nauvoo Legion notes also resemble an obsolete $1 note. These came about in order to facilitate payment to Legion members and to purchase supplies. The Legion was formed on February 4, 1841 to protect Church members and for emergencies. It should be noted that not all Legion members were Church members. These notes were signed by G. Fullmer, Wilson Law, The Brigadier General of the House Troops and also Joseph Smith Jr., The Lieutenant General of the Legion. Joseph?s signature on these notes is probably that of scribe W.W. Phelps. At one time the Legion consisted of over 3,000 members. THE SEVENTIES LIBRARY AND INSTITUTE ASSOCIATION. With the ?Seventies Library and Institute Association? we began to see notes which definitely appear to be similar to stock certificates. This association was created to form one of the best libraries in the world. The members of the Seventies Organization of the Church were urged to acquire items for this library. This was accomplished due to the members many trips to the far corners of the world. Donations to the library also helped for much of its holdings as well as purchases which were made possible by annual dues of 50 cents by the members. These notes or certificates also circulated as a substitute for specie which was due to the shortage of currency in Nauvoo. These certificates circulated as did other similar certificates from endorsement on the back of the issues. The survival of these notes is probably less than a dozen examples. They were created supposedly with a capital stock of $10,000 as noted on the certificate but it is doubtful that even a small percentage was ever issued. Signatures on the certificates were of John D. Lee as Register and George A. Smith as President. St. George Utah is named after this George A. Smith. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 174 The previous four issues discussed exist to the extent of less than 10-20 examples each (two types of City Scrip). The next group are the rarest of the rare when it comes to survival of scrip from Nauvoo. Of these five remaining types it is doubtful if more than a half a dozen examples of any one of them have survived. When these issues come to market, which in itself is a rarity, they are usually privately sold. I can recall in the past 20 years of seeing only one at auction which was an ?Arsenal? item which was sold by a smaller auction house. As one can imagine these and virtually all Nauvoo scrip can be very expensive usually selling between $20,000 and $30,000. The only exception is the ?Nauvoo House Association? items discussed at the beginning of this article which usually sell for about $1,500 for a 2-item uncut sheet. NAUVOO ARSENAL The Nauvoo Arsenal was implemented on June 10, 1843. Its purpose was to allow for the security of public arms. The Arsenal operated under authorization of the Nauvoo Legion. The scrip was implemented and was to be utilized for the purchase of weapons, ammunition and related equipment. It definitely was to be used as a circulating medium only in the city of Nauvoo. After its implementation in 1844 the Arsenal acted as a pseudo bank as there were no banks in operation in Nauvoo at the time. This and other similar scrip?s circulated together and were accepted as currency as mentioned before usually by endorsement. They all had no backing or intrinsic value other than their general acceptance in the city of Nauvoo. There were three signatures on these notes including a true Brigham Young along with Charles Rich as Major General of the Nauvoo Legion and Edmund Ellsworth as Secretary. Only $5 denominated notes have been observed.? SEVENTIES HALL It is not completely clear of the connection, if any, between this Seventies Hall scrip and the later issued Seventies Library and Institute Association scrip. Realistically, connection between any of these Nauvoo notes is probably linked but to what degree is not known. The seventies Hall was a building constructed as a place where the Church Seventies could meet. This hall contained offices and a library containing over 675 volumes. It may be one and the same as the Institute Library but again this is not clear. These notes, what few are known, are dated either May 4th or May 19th of 1844 and are all denominated as $5. The hall itself was completed in December of 1844. They could have been issued to raise funds for its construction but have been noted to have circulated as specie. THE NAUVOO AGRICULTURAL AND MANUFACTURING ASSOCIATION There is also very little known specifically about this scrip but the association is well documented as to its purpose and operation. Governor Thomas Carlin signed into law an act incorporating the Association which was capitalized with $100,000 stock with the price set at $50 per share as noted on the certificates. There were 34 members and 20 Trustees involved with the association. The stock was distributed for one year after which it was planned to be turned in to the trustees for distribution of investments and profits. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 175 Signatures appearing on the scrip are those of Sidney Rigdon as President and Joseph Smith Jr. as secretary. The Associations? planned goals were to establish sawmills, a flour mill, a tool factory, a foundry and a china and pottery factory. The latter was never completed. NAUVOO MUSIC ASSOCIATION Virtually nothing is known regarding the ?Music Association? notes other than controversy. The controversy exists due to the addendum published after Al Rust?s book on Mormon Currency in 1984. This book was published almost the same time as the Hoffmann forgeries and murders occurred in Salt Lake City. Al Rust was taken advantage of by Mark Hoffmann who counterfeited several issues of Mormon scrip and it was thought that these Music certificates were among them. The addendum included them as such indicating that the copies shown in Rust?s book were from Hoffmann but this was later noted to be in error. In addition to the two notes in Rust?s book (one of both types) I am aware of only three other notes. These notes were acquired by collectors which I have personally met prior to the Hoffmann era and are shown here for reference. Of the two types this brings the total to five items. If there are any subsequent Hoffmann forgeries of any Music Association notes I am not aware of them. What is known regarding the Music Hall is that in April of 1843 Joseph Smith Jr. selected a site for the building to be erected. Nothing came of the building until after the death of Joseph Smith Jr. at which time these stock certificates were issued in the amount of $2.50/share. The building was eventually erected and the opening concert series was held the week of March 3-5 of 1844 shortly after the hall was completed in February. OTHER NAUVOO ITEMS One final item was a note discovered several years ago which on the surface appears to be from Mormon origin in Nauvoo but cannot be confirmed, it is shown here for reference. There was also a token created in Nauvoo of which many copies and replicas are known. CONCLUSIONS Many collectors collect ?Mormon Currency? from Kirtland to Nauvoo to Utah but these items from Nauvoo are the most difficult and rarest ones to acquire. Very little has been written or documented regarding them. They can be definitely considered as Mormon currency as it can be documented that it did actually circulate as specie. It may be that after the Kirtland Bank failure and debacle in Kirtland the Church officials did not want to produce specie that closely or even at all resembled standard currency of the time. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 176 Emission Sequence and Surviving Notes Known MONTH/YEAR ISSUE KNOWN Feb 1841 Nauvoo House Association / Type 1 (Issued) 300+ 1841 Nauvoo House Association / Type 2 (Unissued 300+ Mar 1841 The Nauvoo Agricultural and Manufacturing Association 3-4 Jan 1842 Nauvoo City Scrip (Types 1 & 2) 15-20 June 1843 Nauvoo Music Association (Type 1) 3-4 July 1843 Nauvoo Legion 5-10 May 1844 Nauvoo Seventies Hall 3-4 June 1845 Nauvoo Arsenal 3-4 June 1845 Nauvoo Music Association (Type 2) 3-4 Oct 1845 Seventies Library and Institute Association 5-10 ? ? ? ? ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 177 The Higgins Museum of National Banking 2018 Seminar Program Speakers Set The Higgins Museum 2018 National Bank Note Seminar is scheduled for Thursday, July 26, at the museum in Okoboji, Iowa. Six prominent speakers have been scheduled; Peter Huntoon, Mark Drengson, Steven J. Sweeney, Larry Adams, Michael B. Scacci, and Mark B. Anderson. Continental breakfast treats will be available at eight o?clock on Thursday morning, with the program scheduled to start at 8:45. Headlining the speaker sessions will be National Bank Note authority Peter Huntoon, with a scholarly presentation on the 1873 to 1885 currency design era that was dominated by the work of George Casilear. As chief engraver at the Bureau of Engraving and Printing, the patented lettering process developed by designer and inventor Casilear dominated every new series of currency produced over that time- frame. Minnesota specialist Mark Drengson will provide attendees with an insightful examination ? National Banks, Bankers and Banknotes of Southern Minnesota ? concentrated on his focus on the issues of the southwestern corner of the state. Past Society of Paper Money Collectors president Mark Anderson will offer an exploration ? A Tale of Two Wisconsin Banks; Comparable Inceptions, Divergent Outcomes ? of a pair of the state?s rural banks that shared close proximities, drawing upon banking history recorded by his grandfather. Steve Sweeney, co-author of the Iowa National Bank Notes reference and the project?s still active ?census keeper? will contribute ? The Iowa Census; Evolving & Maturing ? providing valuable insights into the value and vagaries of census records. Higgins curator Larry Adams and president Michael Scacci will jointly explore counterfeits ? Reasons to Not Fire an Engraver; Counterfeits from 1862 to 1920 ? a presentation tied to the Bob McCabe reference Counterfeiting and Technology. The registration fee for the seminar is $75. Registration applications and remittances should be directed to The Higgins Museum, 1507 Sanborn Avenue, P. O. Box 258, Okoboji, IA 51355. The Society of Paper Money Collectors is the lead co-sponsor of the seminar. Other sponsors are the Central States Numismatic Society and the Professional Currency Dealers Association. (A discounted registration fee of $60 is available to members of he SPMC, CSNS, PCDA and the Iowa Numismatic Association. There are several overnight accommodation possibilities that are a mile or less away from The Higgins Museum. These include AmericInn Lodge, 105 Brooks Park Drive (just off U.S. Hwy 71) 1-800-634-3444 (reservations) or 1-712-332- 9000 (direct); Arrowood Resort, 1405 U.S. Hwy. 71, 1-800-727-4561 (reservations) or 1-712-332- 2161 (direct); Vintage Block Motel, 1107 Sanborn Avenue (just two blocks from the museum) 1-712-332-8040 (reservations and direct); Bridges Bay Resort, 640 Linden Drive, 1- 800-727-4561 (reservations) or 1-712-332-2022 (direct). Early arrivals from outside the area are invited to attend a welcome reception from 5:00 pm to 6:30 pm on Wednesday evening, July 25. Established in 1978 by William R. Higgins, Jr., The Higgins Museum of National Banking is dedicated to the acquisition, preservation, display and educational sharing of artifacts and reference materials related to the 1861-1935 National Bank Era. Open Tuesdays to Sundays from Memorial Day weekend to Labor Day weekend, the museum displays the country?s largest collection of National Bank issues on permanent exhibit, with emphasis on Iowa and the nearby areas of its adjoining states. It incorporates numerous period furnishings and equipment associated with the key role that National Banks played in the economic development of the United States. Admission to The Higgins Museum is free. For additional information on the 2018 Higgins Museum National Bank Note Seminar, please contact curator Larry Adams at 515-432- 1931, or direct your inquiry by e-mail to: ladams@thehigginsmuseum.org. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 178 My Over 15 Year Hunt: 2711 Note Survey on T-64 CSA $500 Notes: What Was the Last Note Issued?: A Detailed Update by Steve Feller A. Introduction to the Update on the T-64 CSA Note Survey For over 15 years I have been keeping track of the serial numbers on Criswell T-64 Confederate States of America $500 Stonewall Jackson notes [1,2,3,4,5,6,7,8,9]. In this article, an update done on March 25, 2018, I report on serial number information from 2711 examples of this historic issue. In earlier articles in Paper Money [3,4,8,9] I reported on observations from 2363, (December 25, 2015), 1847 (November 18, 2012), 1641 (July 16, 2011) and 976 notes (as of September 15, 2007); in addition, I reported earlier data that contained the first 604 observations (as of December 23, 2005). The serials have ranged between 3 and 38386. I remain convinced that serial 38386 is near to or might just be the very last note issued from this type. This assertion remains the focus of this update. Figure 1: Is this the last CSA note issued? Note the serial number 38386. B. A Statistical Look at the T-64 CSA Note The data are summarized in the following tables and figures. Table 1: Number and Rate of T-64 Notes Surveyed Date Notes Seen to Date Change Change/day March 25, 2018 2711 348 0.424 December 25, 2015 2363 516 0.456 November 18, 2012 1847 206 0.419 July 16, 2011 1641 665 0.475 September 15, 2007 976 372 0.589 December 23, 2005 604 March 25, 2018- December 23, 2005 2107 0.471 over 4472 days The average serial separations for the current 2711 and the previous 2363 note surveys are 14.2 and 16.3 as we continue to add more precision to the data. A measure of the amount we could expect the average to vary is known as the standard deviation and is 16.3 currently and was 18.4 for the last set of results. This means that more than half of the separations will fall within +/- 16.3 of the average separation of 14.2 (yes, I know the numbers go slightly below zero, this is a result of the distribution not being a perfect bell-shaped curve). Very ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 180 few separations fall 2 or 3 standard deviations from the mean; for example, a mere 6 pairs of notes are 100 or above serials apart with a high of 130. This compares to 12 pairs and 32 pairs of notes separated by more than 100 serials for the last two survey reports of 2363 and 1847 notes. This means that it is reasonable to say that the final serial seen, 38386, likely will not be more than a standard deviation, 16, or so off from the true end serial. As more numbers are observed we are likely to get surer of this. Next, we come to the relative frequency of the notes. This is defined by the number observed divided by the total number printed. Three versions of the notes were identified by Grover Criswell: Type 489, 489A, and 489B [10]. These were supposedly delineated by serial regions of dark, light, and dark red printings but it is not precise. The data are shown in the following chart: Table 2: Number and Frequency of T-64 Notes Seen Serial Range # Printed Type # Seen Frequency 12/25/15-3/25/18 1-6000 24000 489A 395 0.0165 48 6001-33000 108000 489 1859 0.0172 246 33001-38386 21544* 489B 457 0.0212 54 Total 153544* 2711 0.0177 348 *In this table it is assumed that Type 489B notes ceased production with the last serial observed, 38386. We see in the above table Type 489B have survived with the most frequency (26% more than the other types) whereas Types 489 and 489A are observed with almost the same relative frequency. The average separation between serial numbers is now 14.7 while Type 489B is only 12.2. The full variation in serial numbers is shown below. Figure 2: Differences between adjacent pairs of serials. The solid fit line is y = -0.000104x + 16.266747 with an R? = 0.005143. 0 20 40 60 80 100 120 0 10000 20000 30000 40000 Serial?Number T?64:?Change?from?one?serial?to?the?next? 2711?Notes??3?25?18 ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 181 Another way to look at these data is to plot the serial number versus the note position out of the 2711 observations. This is shown below. The graph is quite linear indicating an unbiased sample. Figure 3: Serial numbers in order with the fit equation (red dots) being y = 14.328x + 703.83 with R? = 0.9977 The four serial letters, A,B,C,D are more or less equal in frequncy, see the next graph. Figure 4: Numbers of serial letters observed after 2711 notes. The slight variation is from the presence of some hoards in the data, B is favored for this reason. 0 5000 10000 15000 20000 25000 30000 35000 40000 45000 0 500 1000 1500 2000 2500 3000 2711?Note?Survey?of?Serial?Numbers?for? T?64?Notes. 0 100 200 300 400 500 600 700 800 A B C D N um be r Serial Letter Number of Notes with Serial Letters A,B,C, and D for T-64 CSA $500 after 2711 Note Observations ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 182 Raphael Thian gives two related pieces of information in his classic and important book, Register of the Confederate Debt [11]. First, the serial number with the last recorded signature combination for the T-64 notes is 32900. Second, the last observed serial number by Thian was 37607 and he indicates his data are incomplete, although he had access to thousands of Confederate notes. Once again, from this it is reasonable to suppose that the last observed serial of 38386 is near or perhaps at the end of the issued notes. Another bit of information may be gleaned from the 2711, 2363, 1847, 1641 and 976 observed serials from the last five survey sampling periods. I looked at the last six groups of one thousand serials (this constitutes the entire range of Criswell 489B notes, these often come with the marvelous dark red ink) and counted how many notes there were in each group of a thousand serials. I observed the following: Table 3: Numbers of Type 489B Notes Observed Group of Thousand Serials Notes in Each Observed Set 976 1641 1848 2363 2711 33001-34000 30 47 53 62 74 34001-35000 32 64 69 80 91 35001-36000 34 56 62 81 91 36001-37000 39 49 61 97 106 37001-38000 35 49 53 63 71 38001-38386 (Last Note) 13 15 17 20 24 Total Type 489B Notes 183 280 315 403 457 Fraction of Type 489B 0.188 0.171 0.170 0.171 0.169 Fraction of 489B 38000+ 0.0134 0.0091 0.0092 0.0085 0.0089 For the current data set Type 489B notes (with the range of serial numbers 33001 to 38000) there is on average 86.6 observed notes per 1000 serials with a variation, 70 to 104, in the numbers observed. The sudden drop to 24 serials above 38000 is a clear indication that the serials stopped abruptly in 1865. Extrapolating the rate of observed notes of 86.6 per 1000 to the range above 38000 and using the fact that 24 notes have been observed above 38000 leads to a predicted end of the serial range to be 38000 + (24/86.6)*1000 or 38277. This is fairly close to 38386 indicating again that 38386 is near to the last of the serial numbers. The last five surveys predict the final serial numbers to be: Table 4: Predicted Last Serial Numbers & Difference to Observed 38386 Based on the Trend of Type 489B Notes. 976 Notes 1641 Notes 1847 Notes 2363 Notes 2711 Notes Predicted Final Serial 38442 38283 38283 38260 38277 Predicted Final Serial -actual Final Serial 56 -103 -103 -126 -109 Incidentally, it is possible to see runs of serial number by plate letter (A-D) indicating survival of original hoards. The most notable ones are: Table 5: Runs of Serial Numbers for T-64 CSA $500 notes Plate Letter Serial Range A 35770-35798 B 22227-22237 23051-23060 C 22114-22129 35768-35777 D 5529-5534 32019-32090 ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 183 Figure 5: Serial 59B of T-64 $500. The note above, with serial number 59, is from near the beginning of the run and is the lowest serial numbered note in my collection. Available online for sale in EBay as this is written is serial number 8 but it is quite pricey for a VG note. The serial 8 note comes with a certificate from Criswell stating that it is the lowest serial number known. In the present survey it is the third lowest known. Figure 6: Serial 8C of T-64 $500. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 184 Figure 7: Grover Criswell signed certification of serial 8 as the lowest serial known for T-64 as of January 30, 1997. C. Conclusions I conclude with still more confidence than I had in the last reports in Paper Money [1,2,3,8,9] that the illustrated note shown here with serial 38386 must be very near the end of the run for the T-64 notes. It is surely the case that the serial 38386B note featured in this article is from near the end of the war and, to my knowledge still has the highest known serial number for a T-64 $500 note. If another note was found above 38386 a close estimate of its serial number would be within one standard deviation of the mean change. This yields a range of possible high serials from 38386 to 38402. I continue my study. The rate of new notes seen is holding remarkably steady at just under a note every two days. This implies that there remain quite a few notes left to observe. It Is likely there are hundreds if not thousands to go. Of course, there are many T-64s in collections, institutions, and especially the Smithsonian with its world?s largest repository of Confederate Currency which it inherited from the Rebel Archives [12]. Thus, it is quite likely that there are at least three to four thousand surviving T-64 notes out there. If readers have additional serial number and letter reports I would be pleased to receive them at sfeller@coe.edu. Each article generates several new observations that are sent to me. D. Bibliography [1] Feller, Steve 2363 Note Survey on T-64 CSA $500 Notes: What Was the Last Note Issued?: Another Brief Update Paper Money L (6) Whole Number 276 pp 464-476, (2011). [2] IBID. [3] Feller, Steve, A Survey of Nearly 1000 Type- 64 Confederate States of America $500 notes: What Was the Last Note Issued? Paper Money XVII (1) Whole Number 253 pp 11-18, (2008). [4] Feller, Steve, The Criswell Type 64 Confederate States of America Note, I.B.N.S. Journal, 42 (3) pp 41-42, (2003). [5] Feller, Steve, Is This the Last Confederate Note Issued?, I.B.N.S. Journal 44(4) pp 31-32, (2005). [6] Feller, Steve, Criswell Type 64 Confederate States of America Note: A Statistical Update, I.B.N.S. Journal, 43 (2) pp 54-55, (2004). [7] Feller, Steve, ?The Criswell Type 64 Confederate States of America $500 Note,? I.B.N.S. Journal, 42(3) 27-33 (2003). [8] Feller, Steve 1847 Note-Survey of Type-64 CSA $500 Notes: What was the Last number Issued: A Brief Update,? Paper Money LII (2) Whole Number 284, pp 116-118, (2013). [9] Feller, Steve 2363 Note Survey on Type- 64 CSA $500 Notes: What Was the Last Note Issued?: Another Brief Update,? Paper Money LV (2) Whole Number 302) pp 118-121 (2016). [10] Criswell, Grover C., Comprehensive Catalog of Confederate Paper Money(BNR Press: Port Clinton, OH) (1996). [11] Thian, Raphael P. Register of the Confederate Debt (Quarterman Publications: Boston) 1972. [12] Reed, Fred Shades of the Blue and the Grey, Bank Note Reporter, July 2011. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 185 FIRST THE NOTE, THEN THE MAN. . . . by Lee Lofthus I saw this fabulous 1928E go by as lot 17866 in the Heritage auction held at the September 2005 Long Beach show. I liked that Treasury Secretary Henry Morgenthau Jr. had cut it from the upper left corner of the 4th presentation sheet and that he had presented it to a specific individual, complete with the date. I missed purchasing the note, but was intrigued sufficiently to develop whatever information I could pertaining to E. S. Duffield. Morgenthau took office January 1, 1934, and the first 1928E plates went to press February 18. The sheets arrived shortly thereafter at the Treasury Department. Duffield got his prized note on March 14th. With a minimal amount of leg work, I found that Duffield was a Navy Department official at some point; however, that is as far as I got. In October 2017, I was pursuing another one of my passions, that of collecting photographs of Treasury officials and Treasury Department scenes, so I was mining the photo archives in the Library of Congress. I was focused on group photos because I hoped they would capture lesser known officials that we rarely get to see. Imagine my reaction when I came upon the photo of Duffield standing next to Morgenthau! It came with a caption that read (excerpted here): ?Treasury promotions . . . Eugene S. Duffield right, was sworn in as a special assistant to the Secretary. Secretary of the Treasury Morgenthau seems happy over the selection . . . Duffield takes over the job made vacant by the promotion of Cyril B. Upham to be Comptroller of the Currency.? The photo was dated October 31, 1938. With this to go on, I learned that Duffield had multiple and varied careers in journalism, education, government, publishing and business. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 186 Duffield was with the Washington bureau of the Wall Street Journal at the time that Morgenthau autographed the 1928E note for him in March 1934. Duffield wasn?t tapped to be Morgenthau?s special assistant until 1938. Morgenthau and Duffield worked together from 1938 to 1940, then Duffield moved to the Navy Department as a senior official through 1946. He later edited the papers of James V. Forrestal, Secretary of the Navy under Roosevelt. Then it was on to publishing at McGraw-Hill and later the Cincinnati Enquirer before going into business. Duffield died September 20, 1974. His autographed 1928E note was auctioned thirty-one years and three days later.?? What more could you ask one of your notes to deliver? By the way, if you own this note and none of this is of interest to you, let me know. I know someone who would be willing to take it off your hands! Image of note from Heritage Auction archives. Photo of Morgenthau and Duffield from the Library of Congress (LC-H22-D-4832 [P&P]). Eugene? F.?Duffield?on? the? right?next? to? Secretary?of? the? Treasury?Henry? Morgenthau?on?October? 31,? 1938,?upon? the? appointment? of?Duffield? as? Morgenthau?s?special?assistant.? ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 187 The Cooper Shop Volunteer Refreshment Saloon by Robert Gill My usual articles that are in Paper Money are in my regular column The Obsolete Corner, and are about my large Obsolete sheet collection. But in this writing I'm deviating away from Obsoletes and sharing with you a very interesting remainder sheet of checks that I acquired some time in the past. And that is on the Cooper Shop Volunteer Refreshment Saloon, and its very interesting patriotic history. Not all of the heroes of the Civil War fought on the battlefield. In Philadelphia, the volunteer refreshment saloons provided some of the most important services. Northern newspapers praised the city?s saloons which served as safe havens where ?the dusty soldier could wash off his travel stains.? Philadelphian merchant, William M. Cooper, was the first to decide that his storefront on Otsego Street should aid Union troops passing through his city. The Cooper Shop Volunteer Refreshment Saloon opened on May 26, 1861. Cooper became the committee?s president, and served in this position until the war?s end. The Cooper Shop soon entered into a friendly rivalry with the larger Union Saloon, which opened the same week, but the dramatic individual efforts of the Cooper Shop leaders gave it a special place in the hearts of Philadelphia?s residents. All of these war time establishments proved important as places of rest where soldiers obtained food, drink, places to wash, and even medical care. The saloons helped forge a collective war effort. The Cooper Shop Saloon added a second floor hospital in October of 1861. Dr. Andrew Nebinger Jr. received the appointment as the surgeon-in-charge. He agreed to work as a volunteer, and did not receive a salary for his service to the wounded soldiers. Admired by many who came into contact with him, Nebinger?s surgical skills received praise from fellow doctors such as C.E. Hill, who described the surgeon as one of the finest men he had ever met, saying, ?his kindness to the sick, and his untiring zeal for their comfort, proves him to be a philanthropist of the first order.? Others described Nebinger as an expert doctor who possessed great administrative ability and devoted patriotism, which gained him respect among all who knew him. The soldiers and their families seemed to appreciate the efforts of the Cooper Saloon. After leaving Philadelphia, Sergeant N.P. Gale of New York wrote to Cooper, ?many a soldier has thought of your kindness.? The refreshment saloon committees provided traveling soldiers with small comforts such as food, drink, and bathing facilities, while the doctors and nurses provided more urgent medical care to those returning from the battlefields. The parents of young soldiers often expressed their gratitude to Nebinger, whose ?faithful efforts? and dedication to his patients helped save their sons. According to historian J. Matthew Gallman, the refreshment saloon?s ?greatest benevolent contribution cannot be measured by returns on ledger sheets, but by the long hours devoted to sewing clothes, cooking food, and ministering to wounded soldiers.? Philadelphia?s citizens rallied around the Cooper Shop by providing about $70,000 during the course of the war, the equivalent of nearly one million dollars today. Also, about 400,000 soldiers passed through the Cooper Shop Volunteer Refreshment Saloon during the four years of fighting. The success of these saloons in Philadelphia had an impact on the way people in other places viewed their local relief efforts. A woman from New York complained that her state sent soldiers through without giving them a place to rest, while ?Philadelphia lets no regiment, of whatever State, whether going to or from battle, pass hungry through her streets.? Soldiers from other states also noted that ?anyone who thinks there is any lack of support for the war has only to march through ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 188 Philadelphia.? The saloon continued dedicating its resources to the Union troops until the War's end, when the 32nd U.S. Colored Troops and the 104th Pennsylvania became the last two regiments served in the Cooper Shop before it closed. When William Cooper died in poverty in February of 1880, various newspapers and the Grand Army of the Republic appealed to former soldiers for donations to support the surviving members of his family. Former soldiers immediately offered to ?shoulder the entire indebtedness of the late Mr. Cooper, if they be allowed what they term, ?the humble honor?.? Andrew Nebinger and his family remained an integral part of Philadelphia?s society after the war as leaders in the city?s public school system. According to one history of the public schools, the family left Philadelphia ?memories that will long be cherished and honored.? So, there it is. One small group of people standing for what they believed in; an idea that had created a very divided opinion in our nation's history. And their compassionate feelings for others exemplify what being an American really is. As I always do, I invite any comments to my cell phone (580) 221-0898 or my personal email address robertgill@cableone.net Sheet of four with inset of enlarged example. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 189 Figure 1. How did ?524? get under the flap? Very Peculiar 1981 FRN Fold-Over Error Peter Huntoon Bob Liddell, who seriously collects misprints, obtained this Series of 1981 FRN $10 that exhibits a most unusual fold-over. It was overprinted on a COPE (currency overprinting equipment machine). The error involves the note from the upper right corner of the sheet. The flap was unfolded before the top selvage was cut from the sheet and the notes separated. The peculiar thing that attracted Bob to the misprint is that 524 from the left serial number is printed where the top selvage blocked the district seal so should have blocked that part of the serial number as well. The question is: How was this possible; specifically, how did the 524 get under the selvage? Notice also that the C-prefix from the right serial number that was intended for the note below was caught on the right edge of the fold-over, albeit crooked. Difficult to see in the photos is an ill- formed fragment of a serial number printed between STATES and OF on the face of the note. The fragment looks like part of some number, but getting it there seems impossible. Somehow that part of the note glanced against a numbering head. The feed stock for the COPE machines consists of two piles of 16-subject half sheets (Figure 2) that are simultaneously fed through the respective sides of the machine. When this note was processed, the two cylinders that applied the overprints were configured so that the first printed the green serial numbers and Treasury seals and the second printed the black district numbers and seals. Numbering was through the stack of notes in each plate position and the machine numbered from the high to low serial numbers in each print run so that the low numbers landed on the top in the output bins. It is our opinion that the half sheet started to deform into some sort of soft rollover as it was passing by the green cylinder such that the left serial number printed in its entirety, but the suffix letter landed on the selvage that was later cut away from the developing flap. The printing heads and other elements on the cylinders are raised with plenty of space between them so there are innumerable opportunities for a sheet to wad or curl weirdly into those spaces when something goes wrong. See Figure 3. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 190 The sheet continued on to the black cylinder where by now the flap had flattened with a resulting hard crease and its left edge had slid appreciably to the left thus covering the 524 in the left serial number at the moment that the black seals printed. By now the paper was not only folded over but internally stretched and deformed. There are two indicators that the paper was deforming. The top margin of the note has a crooked cut demonstrating that after the flap was unfolded, the paper remained somewhat wadded up as the top margin of the sheet was cut away. Also, the line delineating the left edge of the selvage that blocked the seal on Bob?s note is not straight as expected. Instead it is concave toward the left. All we can say is that when an accident occurs, the outcome is unpredictable and sometimes can be very strange. We?ll both guess with you as to exactly what happened in this case. Figure 2. Two piles of half sheets being fed simultaneously into a COPE machine. Figure 3. View of the cylinder that prints the black district letters and seals. Notice the separation in the middle because the cylinder prints both half sheets at once, which are separated from each other. It takes two posts to print the district information on each note. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 191 MISMATCHED PLATE LETTERS Peter?Huntoon? I?ve looked at a lot of proofs over the years and have found a couple of large size national bank note plates that were accidentally mis-lettered and repaired before sheets were printed, and even one where the siderographer failed to enter one of the letters. Then Lee Lofthus sent a scan of the Fredericksburg note shown here with mismatched plate letters. This really got me going. I was heading to DC so put digging out the proof of the Series of 1875 version of this plate on the top of my to-do list. I found nothing wrong though. Well, it was obvious. The people at the BEP had caught and fixed the mistake when they altered the plate into its Series of 1875 form. Great story. Never saw a mismatch like this before and the fact that it had been fixed added icing to the cake. I needed a better photo of it in order to write it up so I logged onto the Heritage Archives website and found the image from a September 2014 Long Beach sale. It was in a PCGS holder. Uh oh. ?Fine, Apparent, Restorations; LR corner replaced.? Never even saw that one coming! The Series of 1899 $1s always have beckoned because almost 3.5 billion were printed between December 1898 and January 1925 from 21,743 face plates assigned to them. Look what turned up! When BEP personnel were certifying this Vernon-Treat 4-subject $1 SC Series of 1899 plate bearing Treasury plate number 30692, plate serial number 5500, on July 21, 1909, someone noticed that Figure 1. Notice the mismatched plate letters: C/A. Heritage Auction Archives photo. Figure 2. Mismatched plate letters: C/D! National Numismatic Collection photos. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 192 siderographer Charles A. Hall had accidentally rolled in the plate letter C instead of D in the left position on the bottom subject. The discovery was made after BEP Director Joseph E. Ralph had signed off on the proof so the certification was canceled and the plate sent for repairs. The correct letter was rolled in and the plate re-certified before sheets were printed from it. Doug Murray got interested in looking through the certified proofs for the early national bank notes on the National Numismatic Collection website. He carefully read the notations written in the margins in order to find oddities or problems, which led him to the discovery of the mismatched plate letters on the Series of 1875 10-10-10-20 proof from The Annville National Bank, PA, charter 2384. The proof carries a certification date of May 27, 1878. The margin note indicates that the mistake was repaired October 20, 1878. However, a printing with the error was received at the Comptroller of the Currency?s office June 21, 1878 bearing sheet serials 1-600, B839553-B840152. All were issued. The Series of 1875 proof from Ashland with the missing plate letter in the upper right position is interesting in that the plate was one of the first national bank note face plates made at the Bureau of Engraving and Printing. The distinctive boxy-looking script was used for the postal location and plate date on those first plates. Presumably the missing plate letter was added before the plate was sent to press. There have to more mismatched plate letters or other plate lettering problems out there. Figure 3. The siderographer rolled in a D for the upper right plate letter on this $20 as if he was working on a 10-10-10-10 plate. National Numismatic Collection photo. Figure 4. This is the proof with a missing upper right plate letter, easily spotted because an inspector wrote it in. National Numismatic Collection photo. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 193 2018 IPMS Speakers Series Schedule Bill Brandimore--Collecting small size Federal Reserve notes with an emphasis on $5s Fathom the depths of series, varieties and rarities in the longest running class of small size U. S. currency. Don?t be surprised if you get a heavy dose of examples from Minneapolis, the toughest district to collect, because its emissions generally were/are the smallest. Joseph Boling--How fakers messed up their products?laziness or ignorance Counterfeiters have demonstrated many times that they don?t understand the subtleties of the notes they are copying?or don?t care. You will see many examples of naked-eye diagnostics for identifying bad notes even from poor images. No magnification required! Robert Calderman--Cherry Picking 101: How to score amazing notes without breaking the bank! Rarity lurks in the shadows so those armed with knowledge own the field. You will learn that you don?t have to be rich to amass a credible and valuable collection. The focus will not be limited to small size U. S. type note varieties, but instead will range to large size as well as Confederate issues. Steve Carr--Inside Kansas Nationals?One amazing tale on top of another The Army National Bank; the Kansas banker killed by the Dalton gang; Two Kansas banks that issued exactly one sheet of a given variety?and these are just the warm ups. Carlson Chambliss--Philippine emergency paper money, 1941-1945 The outbreak of war in December, 1941 resulted in an enormous need for currency of all forms in the Philippines. The BEP-printed paper money and the silver coinage soon went into hiding. Most of the emergency money was officially authorized by President Manuel Quezon, but there were many local issues. Several regions did not issue it at all. Central and southern Luzon were so firmly occupied by the Japanese that no emergency money was issued there. Cebu was the second largest city in the islands, and during late-1941 and early-1942 it produced quality notes, but these were soon suppressed. Notes made in Panay (Iloilo), Negros, and Bohol, all in the central Visayas, were longer lived. Notes made in Luzon appeared only in the northern provinces. Methods of printing included mimeographs, typewritten notes, and engravings from lead plates. The Culion Leper Colony in remote Palawan Province had its own currency for a while. The big southern island of Mindanao was able to print and circulate large quantities of currency by frequently sifting its venues for production. Overissue of notes did become a problem for some regions and many emergency notes went unredeemed after the war. Ray and Steve Feller--Overprints on WWII Currency Examples from across the globe of overprints used to monetize wartime currency and/or to acknowledge an emergency situation coupled with warnings about contemporary counterfeits of them. Jerry Fochtman--Dr. Daniel W. Valentine?postage and fractional currency & half dime pioneer Valentine (1863-1932) was a numismatic luminary whom you should get to know because he laid the foundation for our knowledge of postage and fractional currency in 1924. His life will be revealed as his numismatic story unfolds including his efforts to protect his family. This talk is accompanied by an exhibit of Valentine?s personal items. Pierre Fricke--Counterfeit Confederate money made in the Union The fascinating history of counterfeit Confederate notes that were made in the Union during the Civil War, either as souvenirs or counterfeits designed to disrupt the Southern economy, will be revealed. Notable are those of Samuel Upham and Winthrop Hilton, but there were smaller operations in Kentucky, St. Louis and other places. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 194 Peter Huntoon--New Deal Money, the creation of money during the Great Depression The Roosevelt Treasury caused the greatest tectonic shift in Federal Currency ever to occur in order to rescue the collapsed American economic system during the Great Depression. Emergency currency, demonetizing gold, monetizing unlimited silver & more?this is the story of all of it. Roger Urce--Japanese Colonial Issues for Taiwan Japan exercised influence over Taiwan during the latter part of the 19th century through World War II. All the colonial currency issues will be illustrated and placed into historic context with emphasis on the World War II emissions. Jamie Yakes--R & S experimental $1 1935A silver certificates This will be the first release ever of the complete story of the R & S experimentals?the most collected of all the U. S. currency paper experiments?gleaned from the Federal records left by those who implemented the experiment. Learn for the first time the composition of the experimental papers and what was learned. Schedule: June 8 ? Friday 10 am Steve Carr Inside Kansas Nationals?One amazing tale on top of another 11 am Roger Urce Japanese Colonial Issues for Taiwan Noon Robert Calderman Cherry Picking 101: How to score amazing notes without breaking the bank! 1 pm Joseph Boling How fakers messed up their products?laziness or ignorance 2 pm Jerry Fochtman Dr. Daniel W. Valentine?postage and fractional currency & half dime pioneer 3 pm Pierre Fricke Counterfeit Confederate money made in the Union June 9 - Saturday 10 am Carlson Chambliss Philippine emergency paper money, 1941-1945 11 am Bill Brandimore Collecting small size Federal Reserve notes with an emphasis on $5s Noon Ray and Steve Feller Overprints on WWII Currency 1 pm Jamie Yakes R & S experimental $1 1935A silver certificates 2 pm Peter Huntoon New Deal Money, the creation of money during the Great Depression ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 195 U n c o u p l e d : Paper Money?s Odd Couple Joseph E. Boling Fred Schwan More on Federal Reserve Notes-Part 2 Last issue I covered the two paper varieties that exist for modern Federal Reserve notes (series 1996 and later) for denominations over $5. This time we will look at two varieties of ink being used on the backs of these notes?for the same denominations. The first use of ?invisible? inks that I have encountered was for series 1988A $20 notes with magnetic and non-magnetic inks, both black, on the face. The only practical way to see those is on ink- starvation errors, where one fountain dries up and the press keeps printing. Now that electro-optical inspections are performed on sheets as they leave the press, such errors have stopped reaching collector hands. I have seen no examples of this kind of error later than series 1995. Long ago Beth Deisher wrote that currency readers for the blind then being distributed by the BEP were using infra-red (IR) patterns on the backs of the notes as denomination keys. I could think of no way to reveal those patterns. Eventually, it occurred to me that some night vision goggles use IR (as distinguished from low- light amplification) as a way of allowing mere humans to see at night. Our son was still on active duty; I asked him to look at some notes from his wallet the next time he was out on night maneuvers. He said he could do better than that?he had a camcorder that could record in the dark, using IR to create its images. He could also take single-frame photos with it, and he sent me some. Lo, I had been one-upped by technology I did not know existed. Not long later I was out his way (Colorado) and took a stack of notes to examine in one of his closets with his IR-capable camcorder. I learned a lot, and as soon as I got home, I bought a used version of such a camcorder on eBay. See Boling page Micro Differences When Joe told me of his subject for this column, I thought that I would not have anything comparable. Eventually, I broadened my view of his topic to be ?technical printing aspects? and I was able to come up with an idea. Then as usual with me the subject led me to a story. The subject is MPC micro differences. Of course you have never heard of these because I made up the term and I have not previously reported on them! Before I even tell you what they are, I must tell you the story. I will tell the reasonably short version. It started in the 1970s, when I attended the first Cherry Hill paper money show. The key speaker at this event was the chief of the bank note design department (probably not the exact title) at the Bureau of Engraving and Printing, Len Buckley. During his presentation he twice mentioned military payment certificates. I was amazed. I knew that there was more to the story so I asked him about MPC after the program. Wow! What an answer. He told me that his first project after joining the BEP as an artist was to design MPC Series 692! This was spectacular news. Not only was he an insider to the MPC design process, but the series on which he had worked was the most beautiful and popular series of MPC. Heck, I?and I am not alone?call it the most beautiful set of notes ever designed. Of course I am more than a bit biased. Len Buckley describing the design process in the 1970s with BEP public affairs officer looking on. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 197 This little meeting with Len Buckley in the 1970s led to an in-depth interview of him in his office at the BEP in the late 1970s (or early 1980s). For some reason or another, I was in Washington, D.C. visiting Joe and we arranged the interview. Joe went along. It was really great. Len showed us original art that he had created as part of the process. His eyes sparkled as he told us of the process. He described how he combined colors for special effects and other details. One of the little details was just that. It was mentioned in passing and could have been forgotten. Len told us that as part of the process the designs were engraved. I thought that I must not have understood and asked him to clarify. Why would the BEP go to the bother, the expense, to make engravings of art that was going to be printed by lithography? Again his eyes sparkled as he explained to this uninformed?but keen?collector that the best way to get the fidelity of the lines was to make the photo-ready copy from an engraving. Cool. I thought about this over the next two decades. I could remember the ?fidelity of the line? comment and the sparkle in Len?s eyes as he explained, but I still had a bit of doubt. Perhaps I just had not understood entirely. In 1999 (I think), Larry Smulczenski and I went to the BEP on a research trip. We had a specific mission to solve some of the mysteries regarding MPC multiple printings, but of course we were interested in everything MPC. We were very lucky to be able to make such a visit and we soaked up every bit of information that we could. A highlight was to go ?upstairs.? During the course of our visit, and a previous visit too, our guide, mentor, and supervisor had frequently talked about ?upstairs,? and more specifically things that were ?upstairs.? Occasionally we had a question that she (I am withholding his or her name) would answer by going ?upstairs? and bringing us an artifact to answer the question. Eventually he (intentionally confusing to protect our source) gave up and took us ?upstairs.? We were excited, but tried to look cool. We had reason to be excited. It was not a black hole, in that it was not a mess, but it was a treasure room. There was stuff to answer questions that we did not know we had. Relevant to today?s discussion, there was a very large book of printer?s proofs. These were proofs that had been used in the press room. The book was smudged with inky finger marks. There among hundreds of other proofs was the MPC intaglio-to-lithograph missing link?an intaglio proof of an MPC! I was stunned. After all of those years I saw?and held in my hands?evidence of what Len had told us. Somehow the book indicated to me that even each of the fractional denominations had had a separate intaglio proof. When I had first learned about the intaglio step, I had assumed that for the fractional denominations one intaglio image had been prepared and the denominations had been added. The book seemed to indicate otherwise. That night in the motel, Larry and I were chatting about the day?s discoveries. In talking about the intaglio proofs, we thought that if each fractional denomination had been uniquely prepared, there likely would be small differences between denominations. We only had a few certificates with us, but we quickly broke out our magnifying glasses. It did not take long to find some differences! We carefully rejected the tiniest differences that might have been the result of inking differences or paper imperfections. We found differences that were clear and consistent within a denomination! That left the final questions. Were the differences deliberate, and if so for what reason? Amazingly, at the BEP the next day, Len himself arrived at the archives on a social call (he had recently retired). I immediately put the MPC Series 692 $20. A Len Buckley masterpiece. Len Buckley painting in his home studio. Schwan and Buckley at MPC Fest exchange autographs. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 198 question to him. He did not show surprise nor previous knowledge of these differences. He chuckled and showed me that twinkle in his eyes that I had seen during our interview in the 1970s and said, ?You never can tell what those engravers will do.? To me, the very existence of these micro differences is fascinating. As wonderful as they are, they do not seem to be important to collectors in the traditional sense. It is not likely that we can find micro differences that will identify multiple varieties of the same denomination. That would be really exciting! Having said this, it is altogether possible that as our knowledge of micro differences increases, we will find some such variety or, more likely, some important but unexpected purpose or meaning of these marks. While it is possible that this will take another 25 years, it is also possible that some reader will see the point and shout it out. I am listening. Boling continued Surprise?no small-head notes had IR markings, which included post-1995 $1 and $2 notes. And just as the paper change had occurred late in series 1996, so apparently did the use of IR-related inks for denomination markers. I have found no 1996 $100 or $50 notes with the IR inks (and since there were no 1999 $50s, that means that they don?t start until series 2001). The only 1996 notes I have found with IR inks are the $20s?the last denomination issued in that series. The $20 note is seemingly the ?base? case, with each of the other denominations that followed using a pattern that builds on the $20 note?s single vertical stripe. See figure 1. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 199 Figure 1 Figure 2 shows the $100, which simply repeats the $20 note?s single stripe, leaving it stationary and adding an identical stripe to the right. On the $50 note (figure 3), the second stripe is pushed even farther to the right. When colorized notes were introduced, some stripes grew a millimeter or two in width, but they stayed in the same positions relative to each other and to the note?s dimensions. Figure 3 shows the original and a colorized $50 (the colorized piece at the bottom). Finally, the $5 and $10 notes (figures 4,5) bring in a double-wide stripe, and place it near or a bit farther from the $20 note?s base stripe. So what are we seeing here? Two green intaglio inks are in use on the backs of the notes. The principal one (composing the bulk of the back image) is opaque to IR radiation?the IR bounces back and is recorded by the camera. The subsidiary one (the ink composing the striped patterns) is transparent to IR radiation?illumination in IR passes through it and all we see is the paper that it was printed on. We do not see this ink at all under IR. Now I could understand some error notes I had seen in the market. They look like obstruction errors?caused by something sitting on the paper as it is printed and accepting the ink, then falling away as the sheet is handled. But now that we see their dimensions and placement, it is clear that they are really ink starvation errors?the IR-transparent ink failed to print, leaving a vertical white stripe where it should have been. See figure 6. In this circumstance, the IR pattern can be seen in white light. The converse case is also known?see figure 7. The IR-transparent ink printed, and the opaque ink did not. So what happens if we put the note of figure 7 under IR illumination and photograph it? See figure 8?all that can be seen are two very narrow lines Figure 4 (above) and figure 5 (below) Figure 2 Figure 3 Figure 6 ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 200 where the opaque and transparent inks were mixing at their boundaries, and a tiny bit of the opaque ink was still present on the plate mixed with the transparent ink?we are able to see it under IR. The IR-transparent ink, visible in white light, disappears under IR, and the rest of the design, intended to be printed in IR-opaque ink, also disappears because that ink fountain was not delivering ink to the plate. I have not seen any of these ink-starvation errors dated later than series 1996, and in only four serial ranges (the longest one being 22 sheets). There are still many error notes that I have not recorded, so I can?t say how scarce they may be. The point is that these seem to have dried up just like the magnetic ink starvation notes that we saw many of not long ago. Actually, there is a good reason we don?t see magnetic/non-magnetic patterns any more?they don?t exist on most colorized notes. The presses can print three intaglio inks in one pass. The optically- variable ink (OVI) on the lower right face of a colorized note is intaglio, and so is the colored ornament at the right of the portrait. That leaves capability for only one black ink, so if black ink starvation occurs, the entire black plate is omitted, and that?s a pretty hard error to miss. The Bureau (or the Treasury Department) decided to make the black ink magnetic, to add a little more security to the notes. The colorized $5 note has no OVI, and the Liberty Bell ornament on the colorized $100 note is the same OVI as the ?100" at lower right, so technically both of those denominations could still use magnetic ink patterns to indicate denomination. Whether either uses that capability is unknown to me. Back to the subject?I have looked for a long time for other denominations showing IR-related ink starvation errors, and have found none. The closest is a doctored $5 note that was treated with chemicals to make its seal and serial colors change?the doctoring made the IR pattern on the back become visible (figures 9 and 10). Another interesting element appears on the colorized notes. That huge purple 5 on the back of the $5, and the big gold 100 on the back of the $100 note, are both IR-transparent; they disappear under IR. Most of the colorized surface-printed inks on the faces of the new notes also drop out?on the $100 note, the ?bell in the inkwell? loses its inkwell under IR. See figures 11 and 12. Strangely, on the $5 note, the Federal Reserve seal also drops out (and the black district numbers on the face). That is the only note in the colorized set that shows that behavior (figure 13). Figure 7 (above) and Figure 8 (below) Figure 9 (above) and Figure 10 (below) Figure 11 (above) and Figure 12 (below) ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 201 And a final point?the Giori press does not create a razor-sharp boundary between the two inks. The Super Orloff press does that much better. See figures 14 and 15. Notice the ghosting along the edges of the Giori stripe, and the crisp edges on the Super Orloff- printed note. I am sure there is even more to learn about our FRNs since the large-head designs were introduced. Somebody write about it. Editor Sez Summer is nearly upon us and I hope you have all made plans to attend the 2018 International Paper Money Show in Kansas City. This is paper money?s ultimate gathering of the year. Last year?s event in this new city and venue was quite the hit and we anticipate this one will be just as successful. Besides the large paper money focused bourse, there will be exceptional exhibits, club meetings and an exceptional slate of paper money talks coordinated by Peter Huntoon. Lyn Knight and his crew have been working very hard to make this a big success and he will have an auction as well. The Sheraton Crown Hotel is a great venue and their hospitality is great. The SPMC is sponsoring a tour of the KC Federal Reserve. Space is limited so go to the website to the outreach tab and sign up. In that same tab, you can buy your breakfast ticket. This is always a fun event that is capped off with the wonderful wit and humor of Tom Bain auctioneer Wendell Wolka. Lots of great prizes, mystery boxes and luggage fodder are to be had. Once again, it will be held at Harvey?s, but we are working very hard to correct the sound issues of last year. The SPMC service and literary awards will be handed at that time as well. Voting is now open for members to reward the wonderful authors and columnists by voting for your favorite articles and columns that appeared in 2017 in Paper Money, as well as voting on Book-of-the-Year. To vote go to www.spmc.org/vote. You have to be a member to vote and only one vote per person. Hurry and vote as voting ends May 15. Speaking of articles, I am actually short on articles. I need articles of any type and size from 1-2 pages to 15 pages. Please send them to me in WORD format via email and note where your illustrations go and send them either separately or at the end. Benny Texting and Driving?It can wait! Figure 13 Figure 14 (above) and Figure 15 (below) ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 202 Treasury Announced New $20 Backs by Jamie Yakes The Bureau of Engraving and Printing gave the back of the $20 note a facelift in 1948, when they revamped the White House vignette in response to exterior renovations initiated by President Harry Truman that ultimately led to a remodeling of the entire interior of the building. The BEP began producing and using new back plates that summer, and released Series of 1934C $20 Federal Reserve notes bearing the new backs a few months later. The BEP created the original $20 master intaglio back die in 1928,1 and used it to prepare $20 back plates 1 to 586. On March 10, 1948 they prepared a new $20 back die2 bearing an updated image of the White House that showed an added second floor balcony and other changes (Fig. 1). On July 7 they lifted two rolls from the master die, and on July 9 began producing 12- subject steel back plates.3 Plate 587 was the first new back and reserved as the master plate; it was never finished as a production plate. The first plate certified and sent to press was plate 588 on July 20.4 The BEP?s initial delivery of numbered new back sheets to the Treasury was a short run of Richmond notes beginning with serial E90480001A on July 27.5 Mainstream numbering of new back sheets for all other districts commenced later that summer or early autumn. In November the Treasury released the following announcement: 6 Figure?1.?Proofs?of?the?last?old?$20?back,?serial?586?(top),?and?first?new?$20?back,?serial? 588?(bottom).?(Courtesy?National?Numismatic?Collection/Peter?Huntoon.)? ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 204 Treasury Department, Information Service Immediate Release, No. S-906 November 10, 1948 Secretary Snyder announced today that the Bureau of Engraving and Printing has begun producing notes of the $20 denomination bearing a new engraving of the White House on the reverse side. The new engraving was made from a photograph of the South front and grounds and White House as they appear today. The design heretofore in use showed the White House South front and grounds of 1929. Federal Reserve Banks will be supplied from time to time as production of the new notes permits, and as a carryover stock of notes of the [old] design is reduced. The Secretary of the Treasury is authorized by law to determine the ?form and tenor? of Federal Reserve notes, and it was in the exercise of this discretion that Secretary Snyder approved the change in the $20 note announced today. It is believed the public will find the new note more attractive artistically, as well as more acceptably up-to-date in its White House portraiture. Various structural alterations and modifications of the grounds are evident from examination of the new engraving in comparison with the [old] version. The structural changes include a balcony added to the South portico at the second floor level, and the four chimneys of the present time in place of the two of [the old design.] Individual panes of all visible windows could be clearly discerned in the [old] design, but in the new engraving the bottom portions of the windows are of a solid color, giving the impression that they are open. The grounds are a deeper green in the new design, due to the presence of additional trees and shrubbery and the heavier foliage. The White House flag hangs at an angle from its staff in the new engraving, whereas in the [old] portrait it blew straight out. Lettering beneath the building has been changed from ?White House? to ?The White House.? The design for the front of the note remains unchanged. Have some fun and try and find all the changes between the old and new backs. Notice the reduced white space between the vignette and border on the new back. It?s the most obvious change and the easiest way to discern each back. Sources Cited 1. Record Group 318-Bureau of Engraving and Printing: Entry P1, ?Ledgers Pertaining to Plates, Rolls and Dies, 1870s-1960s,? Container 135. National Archives and Records Administration, College Park, Maryland. 2. Ibid. 3. Record Group 318-Bureau of Engraving and Printing: Entry P1, ?Ledgers Pertaining to Plates, Rolls and Dies, 1870s-1960s,? Container 43. National Archives and Records Administration, College Park, Maryland. 4. Ibid. 5. Lindquist, Scott, and John Schwartz. The Standard Guide to Small-Size U.S. Paper Money, 10th ed. Iola, WI: Krause Publications, 2011: 225. 6. Treasury information release for new $20 backs, November 10, 1948. Record Group 53-Bureau of the Public Debt: Entry UD-UP 13, ?Historical Files, 1913-1960,? Box 12, File 723. National Archives and Records Administration, College Park, Maryland. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 205 Central States Numismatic Society 78th Anniversary Convention April 24-27, 2018 (Bourse Hours ? April 24 ? 12 noon-6pm Early Birds: $125 Registration Fee) Schaumburg, IL Schaumburg Renaissance Hotel & Convention Center Visit our website: www.centralstates.info Bourse Information: Patricia Foley (414) 698-6498 ? foleylawoffice@gmail.com Hotel Reservations: Schaumburg Renaissance Hotel - 1551 North Thoreau Drive ? Call (847) 303-4100 Ask for the ?Central States Numismatic Society? Convention Rate. Problems booking? - Call Convention Chairman Kevin Foley at (414) 807-0116 Free Hotel Guest and Visitor Parking. ? Numismatic Educational Forum ? Educational Exhibits ? 300 Booth Bourse Area ? Heritage Coin Signature Sale ? Heritage Currency Signature Sale ? Educational Programs ? Club and Society Meetings ? Free Hotel Guest and Visitor Parking ? Complimentary Public Admission: Thursday-Friday-Saturday No Pesky Sales Tax in Illinois INTERESTING MINING NOTES by?David?E.?Schenkman? THE?MYSTERIOUS?MINING?NOTES?OF?PORT?CARBON,?PENNSYLVANIA? In?1819? the?village?of?Pottsville,?Pennsylvania? (well? known? to? beer? lovers? as? the? home? of?D.?G.? Yuengling?&? Son,? the? oldest? brewery? in? America)? was? established? and? named? for? John? Potts,? who? owned?a?forge?on?the?site?and?a?significant?amount? of? land? in?the?area.?Seven?years? later?he?sold?a?six? hundred? acre? tract? of? land? to? his? son,? Abraham,? including? the? area? that? is? now? the? town? of? Port? Carbon.?Abraham?built?a? sawmill? in? the? town?and? started? constructing? a? house? for? himself? and? several? tenement? houses,? and? laying? out? roads.? Some? histories? note? that? prior? to? Abraham?s? involvement,?the?area?was?known?by?other?names,? including?Middleport?and?Carbontown.? ? The? town? grew? rapidly,? and? in? 1829? the? first?hotel?was?opened.?The?population?was?about? nine?hundred?in?1830.?General?merchandise?stores? and? other? businesses? were? established,? and? of? course? there?were? saloons? to? relieve? the? laborers? of?their?earnings.? ? The?companies? issuing? the?coal?mine?scrip? emanating? from? Port? Carbon? have? always? been? somewhat?of?a?mystery,?at?least?to?me.?One?of?the? notes,?a?one?dollar?denomination?dated?183_?and? issued?by?the?Mill?Brook?Colliery,? is?very?common.? It?depicts?a? charming?early? railroad?engine?pulling? three? coal? cars.? Its? imprint,? ?Lith.? of? Wild? &? Chevalier? Pha,? appears? faintly? in? tiny? letters? beneath? the? vignette.? It? is? cataloged? as? number? 320?7? by? Richard? T.? Hoober? in? Pennsylvania? Obsolete?Notes?and?Scrip,?which?was?published?by? SPMC? in? 1985.? Most? examples? I?ve? encountered? are? unsigned,? although? I? do? have? one? with? the? number??8??written? in? ink? for? the? last?digit?of? the? date?and?bearing? two?signatures,?neither?of?which? is?readable.?The?note?described?by?Hoober?bears?an? 1835?date,?so?I?assume?there?are?others.? ? The? second? note,? also? a? one? dollar? denomination,? was? issued? by? the? Belmont? Collieries.?The?central?vignette?is?a?seated?figure?of? Ceres,? the? goddess?of?agriculture.?An?early? sailing? vessel? is? at? the? left,? while? a? primitive? railroad? engine? is? to? the? right.?My?example? is?dated?1840,? with? the? last? two? digits? written? in? ink.? A? serial? number? is?written,?and? it? is?signed??C.?Warren?Pr.?? Compared?to?the?Mill?Brook?note,?this?one? is?quite? rare,?and?is?unlisted?in?Hoober.?It?does?not?bear?an? imprint.? ? I?ve? never? encountered? a? note? of? any? denomination? other? than? one? dollar? from? either? colliery,? which? seems? strange.? I? would? be? very? interested? in?hearing? from?anyone?owning?one,?or? having?a?note?with?legible?signatures.? ? Located? in? Schuylkill? County,? Port? Carbon? was? the? site? chosen? for? the? first? lock? of? the? Schuylkill?Canal,?which?was?completed? in?1827.? Its? purpose? was? to? facilitate? the? transportation? of? locally? mined? coal? to? Philadelphia,? a? distance? of? approximately?a?hundred?miles.?The?canal?served?a? dual? purpose.?Merchants? in? the? area? could? order? needed?supplies? for? inventory,?and? they?would?be? transported?to?them?on?the?boat?s?return?trip.?? ? A?couple?of?years? later?Abraham?Pott?built? a?primitive?four?mile?railroad?connecting?the?mines? ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 208 with? the?wharf? at? Port? Carbon.? The?wooden? cars? each? held? one?and?a?half? tons? of? coal.? No? doubt? the? intent?of? the? vignette?on? the?Mill?Brook?note? was?to?represent?this?railroad.? ? According?to?the?Port?Carbon?Borough?web? site,??the?sizes?of?coal?prepared? for?market?at? the? Port? Carbon? docks? were? broken,? egg,? stove? and? nut,? the? latter?being? the? smallest.?About? sixty,? to? seventy?boats?were?engaged?in?coal?transportation? between?Port?Carbon?and?tidewater?until?1845?46,? when? the? canal?was?widened? and?deepened.?This? resulted?in?larger?boats,?with?capacities?of?from?150? to?175?tons?of?coal,?while?the?number?engaging? in? the? transportation? business? was? also? largely? increased.?? ? Surprisingly? little? information? seems? to? have? survived?concerning? the? two?companies? that? issued? the? notes,? and? I?ve? been? unable? to? find? a? single?reference?to?the?signer?of?the?Belmont?note.? According? to? the?History? of?Northampton,? Lehigh,? Monroe,?Carbon,?and? Schuylkill?Counties? compiled? by? I.?Daniel? in? 1845,? ?these? collieries? are? located? upon?the?Valley?railroad,?about?one?mile?west?from? Tuscarora,?and?nine?miles?from?Point?Carbon,?near? the?point?where?the?railroad?crosses?the?Schuylkill.? The? tract,?which? belongs? to? Samuel? Bell,? Esq.,? of? Reading,?contains?between?400?and?500?acres.??An? article?in?the?August?3,?1855?issue?of?The?New?York? Times?reported?a??Frightful?Mining?Accident??at?the? Belmont?Colliery? in?which?? four?persons,? two?men? and? two?boys,?have?been? taken?out?of? the? slope,? dead? and? dreadfully?mangled? ??? one?more? is? not? likely? to? live,?and?six?others?are?seriously? injured.?? The?cause?of?the?accident?was?a?powder?explosion.? I?ve? found? nothing? to? indicate?whether? the?mine? was?ever?reopened,?but? it?should?be?noted?that? in? the? early? 1880s? another? Belmont? Colliery? was? opened? at? Carbondale,?which? is? about? eighty?five? miles?from?Pottsville.? ? I?welcome?readers??comments.?Write?to?me? at?P.O.?Box?2866,?La?Plata,?MD?20646.? If?a?reply? is? desired,?please?enclose?a? self?addressed,? stamped? envelope.?dschenkman@verizon.net? Kansas?City?Here?we?come!!!? Join?the?SPMC?for?a?fun? filled?time?at?the?2018? International?Paper?Money? Show?in?KC!? June?7?10.? Tom?Bain?Raffle? Club?Meetings? Exhibits? Bourse? Awards? Educational?Talks? Awards? Auction?by?Lyn?Knight? Visit?www.ipmskansascity.com? for?more?details.? ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 209 The Obsolete Corner The Chicago Marine and Fire Insurance Company by Robert Gill The time of the year has arrived when I enjoy getting outside and nurturing my tomato plants, working in my vast yard, and just relaxing under the shade of a tree (when time permits, which is not very often). But, it's also time to start getting prepared for next month's Kansas City International Paper Money show. Previous to last year, the show was always held in Memphis. But last year's inaugural Kansas City show was a success, and I'm really looking forward to seeing friends that I only see once a year, and also meeting some new ones. And now, let's look at the subject of this article. In this issue of Paper Money, I'm going to share with you a sheet of notes out of my collection that once resided in the vast Shingoethe Family collection. And that is on The Chicago Marine and Fire Insurance Company that operated out of Chicago, Illinois. The acceptance of deposit banking, uncommon in the 1830s, can no doubt be traced back to 1836, when the Illinois Legislature granted a charter to The Chicago Marine and Fire Insurance Company. An act to incorporate the Company was approved on January 13th, 1836, Sec. 5, Laws of the State of Illinois, passed by the Ninth General Assembly, at their Second Session, commencing December 7th, 1835, and ending January 18th, 1836. Ostensibly, this charter was for an insurance company. In fact, one clause read that ?nothing contained in this act shall confer on said corporation banking powers, or authorize it to issue notes in the similitude of bank notes, to be issued as a circulating medium in lieu of money.? For the first year and a half after its incorporation, The Chicago Marine and Fire Insurance Company conducted its business solely along the lines of insurance. But the money stringency, created by the nation-wide banking Panic of 1837, soon led its Directors to issue a sort of makeshift bank note, in direct violation of the charter. In May of 1837, Company President, Josiah S. Breese, announced that in order to render "every legitimate aid during the deranged condition of the monetary system", the Company would take advantage of its right to receive deposits "of a general or special character". Because the Company was permitted ?to receive money on deposit and loan it on bottomry and respondentia,? it began to issue certificates of deposit for this purpose in 1837, in $1 to $500 denominations. These deposits, which although were not supposed to be "in the similitude of bank notes", were intended to circulate as money, and replace the currency which had been drawn from circulation. And, owing to public confidence in the Company, these notes were willingly taken and passed from hand to hand as currency. These early issues were redeemed when presented. The Panic of 1837 withdrew some of these from circulation, but the issue was never entirely cut off. In 1849, under the presidency of J.Y. Scammon, The Chicago Marine and Fire Insurance Company was reorganized into two parts, banking and insurance. It continued to operate as such for several years. On January 13th, 1852, The Marine Bank of Chicago, under the leadership of Scammon, was organized, the first in Chicago under the Free Banking Law of 1851. Later, on February 21st, 1861, it took over the banking operations of The Chicago Marine and Fire Insurance Company, relegating the insurance company to operate as it was originally incorporated to do. The Chicago Marine and Fire Insurance Company was reorganized as The Marine Company of Chicago on April 2nd, 1863, under Act of February 21st, 1861. So, there's the history behind this old Company. It's a good example of how a business found a way to circumvent the very loose banking laws of the time, and operate successfully. As I always do, I invite any comments to my personal cell phone (580) 221-0898, or my personal email address robergill@cableone.net ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 210 ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 211 Collecting on the Web, Twenty Years on Shortly after our spiffy new SPMC website launched, I would visit it casually just to see the thing pop up on my screen, admiring the appearance of it in the same way that you?d go out to your driveway and look at the gleaming new car you just bought. Of course, like your old car, the old website worked well enough, as far as it went. Yet in ways large and small, the SPMC?s new online presence offers enhanced functionalities which members can only appreciate if they go there and inspect themselves. So go explore, if you haven?t already yet! Myself, I?m quite pleased with the improved layout and visibility of the SPMC?s blog section. More than ever, our website is open to all members with ideas about, or insights into, their collecting passions. As much as the SPMC represents a set of informational resources to its members, its mission is also about empowering members to be more active participants in their particular fields of collecting. The re-do of the website contributes to this important goal of member engagement. Chump Change Loren Gatch In a wider sense, though, the contribution made by the SPMC?s web presence can?t be appreciated in isolation. We are part of a larger online network that knits us with our sister organizations, hobby publications, discussion forums, various government issuing agencies, and archival resources both public and private. Despite all the technology that makes these linkages possible, in its essence the collection and appreciation of numismatic paper will always be a tactile thing. That can?t happen entirely on the internet. Moreover, despite the increasing importance of online commerce sites like eBay for collector transactions, nothing can fundamentally replace the circuit of shows and conventions that physically bring together collectors and dealers around the world. I?m not unmindful of the various challenges facing the collecting enterprise. These range from demographically-induced shifts in popular interest to the bane of counterfeiting and even the very demise of paper currency in some cashless future. Any of these factors could affect the future vitality and even viability of the hobby. But, at some point to remain active in that hobby you must just accept the conditions that you find and work with the resources that you have. Not that these conditions and resources don?t change over time. Recently, at a ceremony at my university I was recognized for twenty years? teaching and service (I got a little metal pin with ?20? on it). Normally I?m not sentimental about milestones like that, although I?m impressed (shocked, really) that this is by far the longest job I?ve ever had. In my world, teachers often argue that internet technologies, particularly in the form of hand-held smartphones, make students stupid in various ways. Whether it is their dwindling attention spans, shrinking memories, boundless credulity with respect to ?fake news?, or sheer incapacity to write in cursive, the argument goes that such technologies do the younger generation no favors by doing too much for them. Whatever truth lies in these gripes, from a research standpoint the advent of a virtual world has been a veritable godsend. Already during the first year of my job, the late 1990s internet gave me access to library catalogs around the world. As databases proliferated, more paper journals became available online. By the mid 2000?s, Google?s scanning put entire libraries at my fingertips; historical newspapers, offered by Google and others, soon followed. As much as platforms like eBay and Amazon have undermined brick-and-mortar commerce (and, yes, thinned the attendance at numismatic shows) they have also made available the photographs, ephemera, and out-of-print books that bring life and excitement to any research project. Along with this explosion of resources comes a parallel connection to those people who have shared my research interests over the years. Without the internet and email, it would have been difficult if not impossible to find those communities passionate about modern local currencies, depression and panic scrip, cigar coupons, propaganda monies, lottery tickets, and all the other weird things that have caught my fancy at one time or another. In particular, without that connectedness I might never have made the acquaintance of Fred Reed, who published my first article in Paper Money in 2005, and who was so generous in his encouragement thereafter. So, in 2018, when I look at the Society?s new website, I see not just a slicker exercise in HTML coding, but twenty years? cumulative worth of a growing virtual world that has brought immense satisfaction to me. I am prudently aware of this world?s drawbacks. It can be an uncivil, dangerous, and even predatory place. But at this point I can no longer imagine pursuing the interests that I have, and have had the fortune to acquire, without being in it. ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 212 President?s Column May/June 2018 As I write this is early April, winter refuses to give up. Yet another snowstorm is on the horizon. Living in Minnesota, I should expect such from Mother Nature, but there is only so much a person can take. I am so ready for spring! By the time you get this in early May, you should be getting ready for the annual International Paper Money Show just a few weeks away in Kansas City. If you haven?t been to this show before, either when it was in Memphis, or its new home as of last year, you don?t know what you?re missing. Let me give you the DL on what you will find: A terrific bourse floor. Remember the old days when you could attend a show and find some really cool stuff of the floor? That was my experience last year ? granted, my focus is really narrow, but I was so pleased to find some notes for my collection at dealer tables. I usually have to resort to auctions to get what I?m looking for these days. But I will be sure to walk the floor religiously this year in hopes of a repeat. Currency seminars. If you like to learn (and I think that describes about every one of us currency collectors), you will really enjoy attending some of the seminars given by top notch researchers and everyday collectors. While at these seminars, you will have the opportunity to meet like-minded collectors, and you could easily build some new life-time friendships. A wide variety of outstanding exhibits. More learning opportunities await in studying exhibits of all kinds, even in topics that you don?t collect (yet!). You can?t help but be impressed. SPMC Breakfast. Always a highlight at the IPMS, the breakfast is held on Friday morning and is a chance to meet old friends, get a tasty breakfast, and recognize those deserving of awards for writing articles or serving the hobby. Hall of Fame inductees for the class of 2018 will also be presented. The Tom Bain raffle is a great time as well. Purchase your tickets now on the SPMC website, under the Outreach menu item. Tour of the Federal Reserve Bank of Kansas City. New this year is a tour to be held on Thursday morning. They say they?ll orient to the tour for our group, so we may be in for a treat. Attendance is free of charge, but limited to 30 participants. Reserve your spot on the SPMC website, also under the Outreach menu item. Lyn Knight?s Currency Auction. Even if you cannot attend in person, you can still participate in Lyn Knight?s auction. Lyn is known for rounding up a great selection of notes for each of his auctions, usually heavy in national bank notes and large type. In recent years the world session has been especially strong, and often draws serious collectors from Asia and Europe. Study your auction catalog carefully and devise your winning strategy for taking home those special items for your collection. Details of these events can be found on the SPMC calendar at www.spmc.org/calendar. Finally, in preparation for the IPMS, I?d like you to take a moment to cast your votes on the SPMC website for your favorite articles appearing in Paper Money in 2017. New this year is voting for Registry Sets in our Obsoletes Database Project. The five categories are Issuer, City, State, Type, Denomination and Vignettes. Both of these voting opportunities should be live when you receive this issue of Paper Money, but not for long, so please make your mark and help determine the winners in this year?s competition. Go to www.spmc.org/vote and www.spmc.org/obs/set-registry today! With that, I?ll close and hope to see you in Kansas City. Several of the SPMC board members will host our table, so please take a moment to stop by and say hello! Shawn ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 213 Welcome to Our New Members! by Frank Clark?SPMC Membership Director New Members March 2018 14734 Akshay Patel, Shawn Hewitt 14735 William Sponseller, Gary Dobbins 14736 Charles Derby, Website 14737 Gary Rutenberg, Jason Bradford. 14738 Melissa Morales, Website 14739 Paul Williams, PMG 14740 Kyle Johnson, Website 14741 Keith Esskuchen, Website 14742 Larry Thomas, Robert Calderman 14743 Jack Carpenter, Website 14744 Gene Yoo, Robert Calderman 14745 Brent Seehusen, Robert Calderman 14746 Larry Whitten, SPMC Postcard 14747 Lawrence French, Coin World 14748 Reece Bormann, Scott Lindquist 14749 Menoti Lembo, Whitman 14750 Robert Van Leer, ANA Reinstatements None Life Memberships None New Members April 2018 14751 Ahmad Alomari, Robert Calderman 14752 Tyler Roethe, Robert Calderman 14753 Joseph Garon, Website 14754 Raymond Munoz, ANA 14755 Lance Dohe, Jason Bradford 14756 Lee Matson, Mark Anderson 14757 Charles DiComo, Robert Gill 14758 Phillip Rutherford, Website 14759 Scott Hansen, BNR 14761 Anthony Durney, Website 14762 Michael Marzek, Website 14763 Joseph Pargola, FCCB 14764 Byron Smith, Website 14765 Todd Gylsen, Mark Drengson 14766 Rick Spidahl, Shawn Hewitt 14767 Charles Sutton, Jason Bradford 14768 Chris Percoulis, Website 14769 Michael G. Richards, Scott Lindquist 14770 Alan Weingarden, Scott Lindquist 14771 Louis KramarskiFrank Clark 14772 Warren Robinson, Website 14773 Dennis BortzJason Bradford Reinstatements None Life Memberships None ? ? ? ? For Membership questions, dues and contact information go to our website www.spmc.org Vote for favorite articles/column and books www.spmc.org/vote ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 214 United States Paper Money specialselectionsfordiscriminatingcollectors Buying and Selling the finest in U.S. paper money Individual Rarities: Large, Small National Serial Number One Notes Large Size Type ErrorNotes Small Size Type National Currency StarorReplacementNotes Specimens, Proofs,Experimentals FrederickJ. Bart Bart,Inc. website: www.executivecurrency.com (586) 979-3400 POBox2? Roseville,MI 48066 e-mail: Bart@executivecurrency.com Buying & Selling ? Obsolete ? Confederate ? Colonial & Continental ? Fractional ? Large & Small U.S. Type Notes Vern Potter Currency & Collectibles Please visit our Website at www.VernPotter.com Hundreds of Quality Notes Scanned, Attributed & Priced P.O. Box 10040 Torrance, CA 90505-0740 Phone: 310-326-0406 Email: Vern@VernPotter.com Member ?PCDA ?SPMC ?FUN ?ANA WANTED: 1778 NORTH CAROLINA COLONIAL $40. (Free Speech Motto). Kenneth Casebeer, (828) 277- 1779; Casebeer@law.miami.edu TRADE MY DUPLICATE, circulated FRN $1 star notes for yours I need. Have many in the low printings. Free list. Ken Kooistra, PO Box 71, Perkiomenville, PA 18074. kmk050652@verizon.net WANTED: Notes from the State Bank of Indiana, Bank of the State of Indiana, and related documents, reports, and other items. Write with description (include photocopy if possible) first. Wendell Wolka, PO Box 1211, Greenwood, IN 46142 FOR SALE: College Currency/advertising notes/ 1907 depression scrip/Michigan Obsoletes/Michigan Nationals/stock certificates. Other interests? please advise. Lawrence Falater.Box 81, Allen, MI. 49227 WANTED: Any type Nationals containing the name ?LAWRENCE? (i.e. bank of LAWRENCE). Send photo/price/description to LFM@LARRYM.com WANTED: Republic of Texas ?Star? (1st issue) notes. Also ?Medallion? (3rd issue) notes. VF+. Serious Collector. reptexpaper@gmail.com. BUYING ONLY $1 HAWAII OVERPRINTS. White, no stains, ink, rust or rubber stamping, only EF or AU. Pay Ask. Craig Watanabe. 808-531- 2702. Captaincookcoin@aol.com Vermont National Bank Notes for sale. For list contact. granitecutter@bellsouth.net. WANTED: Any type Nationals from Charter #10444 Forestville, NY. Contact with price. Leo Duliba, 469 Willard St., Jamestown, NY 14701-4129. "Collecting Paper Money with Confidence". All 27 grading factors explained clearly and in detail. Now available Amazon.com . AhlKayn@gmail.com Stamford CT Nationals For Sale or Trade. Have some duplicate notes, prefer trade for other Stamford notes, will consider cash. dombongo@earthlink.net Wanted Railroad scrip Wills Valley; Western & Atlantic 1840s; East Tennessee & Georgia; Memphis and Charleston. Dennis Schafluetzel 1900 Red Fox Lane; Hixson, TN 37343. Call 423-842-5527 or email dennis@schafluetzel $ MoneyMart $?___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 215 Florida Paper Money Ron Benice ?I collect all kinds of Florida paper money? 4452 Deer Trail Blvd. Sarasota, FL 34238 941 927 8765 Benice@Prodigy.net Books available mcfarlandpub.com, Fractional Currency Collectors Join the Fractional Currency Collectors Board (FCCB) today and join with other collectors who study, collect and commiserate about these fascinating notes. New members get a copy of Milt Friedberg?s updated version of the Encyclopedia of United States Postage and Fractional Currency as well as a copy of the S implified copy of the same which is aimed at new collectors. Come join a group dedicated to the are fractional fanatics! New Membership is $30 or $22 for the Simplified edition only To join, contact Dave Stitely, membership chair Box 136, Gradyville, PA 19039. SIZE INCHES 50 100 500 1000 Fractional 43/4 X 21/4 $28.40 $51.00 $228.00 $400.00 Colonial 51/2 X 31/16 $25.20 $45.00 $208.00 $364.00 Small Currency 65/8 X 27/8 $25.45 $47.00 $212.00 $380.00 Large Currency 77/8 X 31/2 $31.10 $55.00 $258.00 $504.00 Auction 9 X 33/4 $31.10 $55.00 $258.00 $504.00 Foreign Currency 8 X 5 $38.00 $68.50 $310.00 $537.00 Checks 95/8 X 41/4 $40.00 $72.50 $330.00 $577.00 SHEET HOLDERS 10 50 100 250 Obsolete Sheet--end open 8 3/4 X 141/2 $23.00 $101.00 $177.00 $412.00 National Sheet--side open 8 1/2 X 171/2 $24.00 $108.00 $190.00 $421.00 Stock Certificate--end open 9 1/2 X 121/2 $21.50 $95.00 $165.00 $390.00 Map & Bond--end open 181/2 X 241/2 $91.00 $405.00 $738.00 $1,698.00 Photo 51/4 X 71/4 $12.00 $46.00 $80.00 $186.00 Foreign Oversize 10 X 6 $23.00 $89.00 $150.00 $320.00 Foreign Jumbo 10 X 8 $30.00 $118.00 $199.00 $425.00 DBR Currency We Pay top dollar for *National Bank notes *Large size notes *Large size FRNs and FBNs www.DBRCurrency.com P.O. Box 28339 San Diego, CA 92198 Phone: 858-679-3350 Fax: 858-679-7505 See out eBay auctions under user ID DBRcurrency 1507 Sanborn Ave. ? Box 258 Okoboji, IA 51355 Open from Memorial Day thru Labor Day History of National Banking & Bank Notes Turn of the Century Iowa Postcards MYLAR-D? CURRENCY HOLDERS BANK NOTE AND CHECK HOLDERS You may assort note holders for best price (min. 50 pcs. one size). You may assort sheet holders for best price (min. 10 pcs. one size). SHIPPING IN THE U.S. (PARCEL POST) FREE OF CHARGE Out of Country sent Registered Mail at Your Cost Mylar D? is a Registered Trademark of the Dupont Corporation. This also applies to uncoated archival quality Mylar? Type D by the Dupont Corp. or the equivalent material by ICI Industries Corp. Melinex Type 516. DENLY?S OF BOSTON P.O. Box 29, Dedham, MA 02027 ? 781-326-9481 ORDERS: 800-HI-DENLY ? FAX-781-326-9484 WWW.DENLY?S.COM ___________________________________________________________Paper Money * May/June 2018 * Whole No. 315_____________________________________________________________ 216 OUR MEMBERS SPECIALIZE IN NATIONAL CURRENCY They also specialize in Large Size Type Notes, Small Size Currency, Obsolete Currency, Colonial and Continental Currency, Fractionals, Error Notes, MPC?s, Confederate Currency, Encased Postage, Stocks and Bonds, Autographs and Documents, World Paper Money . . . and numerous other areas. THE PROFESSIONAL CURRENCY DEALERS ASSOCIATION is the leading organization of OVER 100 DEALERS in Currency, Stocks and Bonds, Fiscal Documents and related paper items. PCDA To be assured of knowledgeable, professional, and ethical dealings when buying or selling currency, look for dealers who proudly display the PCDA emblem. For a FREE copy of the PCDA Membership Directory listing names, addresses and specialties of all members, send your request to: The Professional Currency Dealers Association PCDA ? Hosts the annual National Currency and Coin Convention during March in Rosemont, Illinois. Please visit our Web Site pcda.com for dates and location. ? Encourages public awareness and education regarding the hobby of Paper Money Collecting. ? Sponsors the John Hickman National Currency Exhibit Award each June at the International Paper Money Show, as well as Paper Money classes and scholarships at the A.N.A.?s Summer Seminar series. ? Publishes several ?How to Collect? booklets regarding currency and related paper items. Availability of these booklets can be found in the Membership Directory or on our Web Site. ? Is a proud supporter of the Society of Paper Money Collectors. Or Visit Our Web Site At: www.pcda.com Bea Sanchez ? Secretary P.O. Box 44-2809 ? Miami, FL 33144-2809 (305) 264-1101 ? email: sol@sanchezcurrency.com Samuel W. Foose #AU005443; Heritage Auctions #AY002035. 48407 DALLAS | NEW YORK | BEVERLY HILLS | SAN FRANCISCO | CHICAGO | PALM BEACH LONDON | PARIS | GENEVA | AMSTERDAM | HONG KONG Always Accepting Quality Consignments in 40 Categories Immediate Cash Advances Available 1 Million+ Online Bidder-Members CURRENCY PLATINUM NIGHT? AUCTION August 17, 2018 | Philadelphia | Live & Online TN-10 $100 Act of February 24, 1815 Treasury Note PCGS Choice About New 55PPQ Fr. 167a $100 1863 Legal Tender PCGS Very Fine 30 Fr. 2405 $100 1928 Gold Certificate PMG Gem Uncirculated 66 EPQ Winona, MN - $100 1929 Ty. 2 The Winona National & Savings Bank Ch. # 10865 PMG Gem Uncirculated 65 EPQ Philadelphia, PA - $100 1882 Brown Back Fr. 520 The Western NB Ch. # 656 PCGS Superb Gem New 67PPQ Fr. 1078b $100 1914 Red Seal Federal Reserve Note PMG Superb Gem Uncirculated 67 EPQ Highlights from the Art Davidson Collection Offered in our Upcoming ANA Platinum Night? Auction Consignment deadline June 29 Contact a Heritage Consignment Director today 800-872-6467, ext. 1001