Paper Money - Vol. V, No. 2 - Whole No. 18 - Spring 1966

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F: I cX"X? clX' -1r .1:- .1),(2 'X= "'X',-%7,' ,` /V, - c . .r,-C);:'''X' ,cr,-cl''''X'cl=c1''''X'cc'X'4q Eli i 4'3 123 Ei Ei [)3 Ei l'3 Ei il3 113 Er IF3 Ei i13 il Eli i' Ei i13 VoL. 5 '3 ES iI3 Ei it3 Efi i'3 iI3 Ei 4.:Paper litenel DEVOTED TO THE STUDY OF CURRENCY A two-denomination note. See page 45. Ei ii3 1966 Whole No. 18 No. 2 OFFICIAL PUBLICATION OF COCieq ol Pape Iitoftel Collector, Eli i'3© 1966 by The Society of Paper Money Collectors SMALL SIZE NOTES All Choice Notes - Crisp Unc. If not otherwise stated. # indicates that one margin is a little close. All Bargain Prices - You get Just What you Pay For - and more, at Bebee's. $1 SILVER CERTIFICATES Don. No. Fr. No. Date Prier 201-1 1600 1928 14.00 201-2 1601 1928A 9.50 201-3 1602 1928B 11.00 201-4 1603 1928C WRITE 201-5 1604 1928D $179.50# 199.50 201-6 1605 1928E Pay $300.00 WTI) 201-7 1606 1934 $7.50# 10.00 201 -8 1607 1935 13.50 201-9 1608 1935A $3.75# 5.00 201-10 1609 1935B 11.00 201-11 1610 1935C 6.50 201-12W 1613 193514 wide reverse 5.50 201-12N 1613 1935D narrow rev. 4.50 201-13 1614 1935E 3.75 201-14 1615 1935F $2.00# 3.75 201-16 1620 1957A 2.25 201-18 1617 19350 3.25 201-19 1621 1957B 2 201-20 1618 1935H 3..000 RARE RED 11201 18911 1935A S2111 11110 1935A Above Pair 105.00 We kill trade Red "S" for "R" Notes. HAWAIIAN ISSUES H201 2300 $1. 1935A $6.25# 7.75 HSO5-1 2301 $5. 1934 57.50 HSO5-2 2302 $5. 1934A $27.50# 32.50 H510 2303 $10. 1934A 32.50 H520-1 2304 $20. VF-Unc. Write H520-2 2305 $20. 1934A 47.50 EUROPE & NO. AFRICA $1. $5. $5. 1934 $10. 1934 U. S. NOTES - Red Seal ONE DOLLAR 101-1 1500 1928 $24.00# 30.00 Nos. under 5,000 $27.00# 35.00 TWO DOLLARS 102-1 1501 1928 $30.00# 37.50 102-2 1502 192SA WTD 102-3 1503 1928B WTD 102-4 1504 1928C $15.00# 19.50 102-5 1505 1928D $12.50# 17.50 102-6 1506 1928E 26.50 102-7 1507 19281,' 812.50# 16.75 $1.00 GRANAHAN & DILLONS Superb Set (12) Same, last 2 Nos. match STAR NOTE SETS Nice Set $1 0 & D - "stars - Same, last 2 Nos. match 19.95 23.95 1963 GRANAHAN - FOWLER SETS Superb Set $1 G & F 14.95 Same, last 2 Nos. match 15.95 RARE MIS - MATCHED NOTES 201 19 1957B $1.00 1137/U41. Beautiful GEM Note 39.50 Plastic Holder, with Title 4.50 WANTED: $1 Granahan-Fowler "stars" - bundles of 100 "stars" - or less. From many districts, pay small premium. Write. U. S. NOTES - Red Seal Two DOLLARS Don. No. Fr. No. Dale 102-8 1508 1928G 102-9 1509 1953 102-10 1510 1953A $5.00# 102-11 1511 1953B $3.25# 102-12 1512 1953C $3.00# 102-13 1513 1963 FIVE DOLLARS 105-1 1525 1928 $23.50# 32.50 105-2 1526 1928A $50.00# 62.50 105-3 1527 1928B $20.00# 29.50 105-4 1528 1928C 22.50 105-5 1529 1928D 45.00 105-6 1530 1928E 21.00 105-7 1531 1928F 19.00 105-8 1532 1953 15.00 105-9 1533 1953A 12.00 105-10 1534 1953B 9.50 105-11 1535 1953C $7.50# 9.00 105-12 1536 1963 7.00 SILVER CERTIFICATES FIVE DOLLARS 205-1 1650 1934A AU $12.00, $20.00# 26.56 205-2 1651 1934A AU $9.00 16.50 205-3 1652 1934B $47.50# 55.00 205-4 1653 1934C 20.00 205-5 1654 1934D 19.50 Same, Autographed by Georgia Neese Clark 33.50 205-6 1655 1953 Low No. WTD 205-7 1656 1953A 9.00 205-8 1657 1953B $6.25# 7.75 TEN DOLLARS 210 - 1 1700 1933 210-2 1701 1934 $30.00# 210-3 1702 1934A 210-4 1703 1934B 210-5 1704 1934C $19.50# 210-6 1705 1934D 210-7 1706 1953 $19.50# 210-8 1707 1953A $17.50# 210-9 1708 1953B $17.00# MISCELLANEOUS SPECIALS 201-5 F1604 1928-D $1.00 199.50 Another, top margin a bit close Limit 1 each of above - price OK thru July. 179.50 RARE HAWAIIAN LOW NUMBERS H201 $1.00. Low # under 300 17.50 Same, Low # under 1,000 13.50 Same, Low # under 2,000 11.50 Above from sheets that T.D. decided not to issue as uncut sheets. Had these tucked away for over 20 years. Limit 1 only, while they last. FLIP UP ALBUMS For Large Notes. 50 Heavy Acetate Pockets Size. closed 10% x 10 12.50 For Small Notes. Similar 9.95 Your name in GOLD FREE, if desired. Dealers, write for our Wholesale Prices. 201-17 1616 1935(4 3.00no motto motto "S" NOTES li ed "R" Red "S" A201 2306 A205-2 2307 A200-1 2308 A210-2 2309 12.50 22.50 WTD 30.00 14.95 15.95 Price 7.75 6.00 6.25 4.50 4.25 3.00 WTD 37.50 WTD WTI) 25.00 21.00 23.50 21.00 19.00 RARE CURRENCY WANTED Please describe accurately and price before sending. Immediate cash payment. National Gold Bank Notes Cold Certificates - Large & Small Nationals - 1st, 2nd, 3rd Charters Territorials (Arizona, Idaho, Nebr., Washington, Wyoming, others). Double Denom., other Rare Errors. $20 Demand Notes 1890 Coin Notes Unc. *1886-1908 Silvers Unc. .1862-1923 Legals Unc. *items Unc. that List $60.00 up wanted. Uncut Sheets Large Notes Uncut Sheets Small Notes Rare Small Notes Unc. - D201-6, 8201, H520-1. 2, A200-1, 102-2, 102-3, 105-6, 205-6, 210-4. 100% Satisfaction Always. Minimum Order $5.00 (except books). Add 50c under $10.00. TWO GREAT CATALOGUES: Part T. 108-page Supply Catalogue (Over 400 Books and Everything in Numis-accessories). Part H. Terrific Offering in Coins and Paper Money. 84 pages. Both 81.00 (FREE or deductible on first $25 order). What Else in Small, Large Notes? Have You Tried BeSee's for Quality Notes? If not, then there's a Surprise in store for you. MINIMUM ORDER $5.00. Please add 50c under $10.00. 100% Satisfaction Always. Please give us a Try - You'll wonder Why you didn't sooner. KNOWLEDGE MEM ESPONSIBILIR Bebee's. inc. "Pronto Service" 4514 North 30th Street Phone 402-451-4766 Omaha, Nebraska 68111 Paper Motel VOL. 5 NO. 2 1966 WHOLE NO. 18 PUBLISHED QUARTERLY BY THE SOCIETY OF PAPER MONEY COLLECTORS Editor Barbara R. Mueller, 523 E. Linden Dr.. Jefferson. Wis. Direct only manuscripts and advertising matter to Editor. Direct all other correspondence about membership affairs, address changes, back numbers and sample copies of Paper Money to the Secretary, J. Roy Pennell, Jr., P. 0. Drawer 858, Anderson, S. C. Membership in the Society of Paper Money Collectors, including a subscription to Paper Money, is available to all interested and responsible collectors upon proper application to the Secretary and payment of a $4 fee. Paper Money is not otherwise available. ADVERTISING RATES One Time Outside Rear Cover $37.50 Inside Front & Rear Cover 35.00 Full Page 30.00 Half Page 17.50 Quarter Page 10.00 Yearly $140.00 130.00 110.00 60.00 35.00 Schedule for Remainder of 1966 Advertising Publication Deadline Date Issue No. 19 Aug. 15 Sept. 15 Issue No. 20 Nov. 15 Dec. 15 CONTENTS Minnesota Territory Banknotes and Banks, by Fred R. Marchhoff 31 Banknote Reproduced on I ligh Value of Greek Stamps Honoring Its Bank 39 Report on Low-Numbered 1963 $1 Federal Reserve Notes, by Warren E. Herbert 40 The Essay-Proof Journal, A Philatelic Publication for Paper Money Collectors 44 The Fifty Dollar 1863 Inverted Green: A New Variety, by Bryan R. Burnett 45 A Two-Dencmination Note, by M. H. Loewenstern 45 Autobiography of a Collector, by Alfredo P. Marcon 46 Auction Prices Realized 47 Federal Reserve Notes, Series 1950D, by Nathan Goldstein 11 50 The Society of Paper Money Collectors, Inc. In Memoriam: Fred R. Marckhoff 38 Call for Annual Meeting 38 Important Notice 42 The Trading Post 42 President's Message 43 Wanted: Data on Rare Obsolete Notes 43 In Memoriam: Claude W. Rankin, Sr. 50 Secretary's Report 51 CPCiet9 ei Paler Money Coliectop4 OFFICERS President George W. Wait, Box 165, Glen Ridge, N. J. Vice-President William P. Donlon, Box 144, Utica, N. Y. Secretary J. Roy Pennell, Jr., Box 858, Anderson, S. C. Treasurer James L. Grebinger, Box 614, Oak Park, Ill. APPOINTEES-1965-66 Librarian Earl Hughes Attorney Ellis Edlow BOARD OF GOVERNORS — 1965-66 Thomas C. Bain, Dr. Julian Blanchard, William P. Donlon, Ben Douglas, Nathan Gold- ;tein II, George D. Hatie, Morris Loewenstern, Fred R. Marckhoff, J. Roy Pennell, Jr, Glenn B. Smedley, George W. Wait, Melvin 0. Warns 2.1 I I I I I I I I I I I I I I I i I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I 1 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I ! I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I E Important Notice Paper Money Is A Copyrighted Publication No article originally appearing in this publication, or part thereof or condensa-= tion of same, can be reprinted elsewhere without the express permission of the Editor. =-2 Although your Officers recognize the publicity value to the Society of occasional re- g. prints, they cannot allow indiscriminate use of the material from PAPER MONEY in E other publications even when condoned by the author. Therefore, authors should ▪ contact the Editor for permission to reprint their work elsewhere and to make ar- ▪ rangements for copyrighting their work in their own names, if desired. Only in this way can we maintain the integrity of PAPER MONEY and our contributors. 511111111111111111111111111111111111111111111111 1111i1111111111111111 1111111111111111111111111111111111111111111111111111111111111111111111111111111111111 11111111111111111111 1111111111111111111117 WHOLE NO. 18 Paper Money PAGE 31 Minnesota Territory Banknotes and Banks An Illustrated History of Borup & Oakes, Minnesota's First Bona Fide Bank, Its Banknotes and Their Spurious Contemporaries By Fred R. Marckhoff (Editor's Note: This article is the last submitted by Mr. Marckhoff before his untimely passing and is typical of the thorough studies he pursued in an effort to increase knowledge in the obsolete paper money field.) Minnesota Territory changed from a virtual wilder- ness to a well-populated area in less than a decade. Out of the maelstrom created by new settlers building new buildings in new towns under new laws and new legis- lators, only one banking firm stood out like a beacon for its integrity, validity and soundness of operation. This firm was Borup & Oakes of St. Paul. Perhaps no sounder bank existed in the Midwest during this early period—backed as it was, by gold itself. Yet its contemporary counterparts were just the oppo- site. In fact, it is a matter of record that four of the first five banks and banknote issues reputedly from Minnesota were invalid attempts made by outsiders using the northerly location, the long winter months and lack of transportation facilities to their advantage in their nefarious dealing in spurious notes. It took the early residents of Minnesota Territory a little time and trouble to rid themselves of these illegiti- mate operations, but they did. But let us review first the activities of Borup & Oakes, after which the four spurious contemporaries will be examined. BORUP & OAKES In 1849 Minnesota Territory was created, and it re- tained territorial status until 1858. The U. S. Census of 1850 showed it to have a population of 6,077. But this was not the true picture for very long, as a tremendous spurt in growth began in the summer of 1850. The number of steamboat arrivals with new emigrants totaled only 47 in 1848 and 73 in 1849. but rose to 104 in 1850, 119 in 1851 and 171 in 1852. Overland arrivals in- creased in the same proportion. One of the most immediate results was a drastic shortage of a medium of exchange. The Minnesota Pioneer newspaper issue of Nov. 7. 1850, stated, "Build- ing, purchases of property, purchases of provisions, all business transactions, turn, now, upon the hinge of the United States Treasury; all contracts, almost, and most expenditures, are made in anticipation of some payment, which is to be made of public money." In fact, so hard pressed were the people for an ex- change medium that even government annuities to nearby peaceful Indian tribes constituted a hardship to the com- munity if delayed for any reason. Much of this money, when it did arrive, was already earmarked for payment to outsiders for provisions, freight, etc., which had to be brought in. The Minnesota Democrat newspaper as- serted, "Over $200,000 of the Sioux money went below (to the south and east) in drafts and bank notes by the last mail." Noting the financial status of the area, an enterprising employee of the American Fur Company named Charles W. Borup decided to embark upon a career of his own. It was he who had handled most of his firm's dealings in exchange and collection as a convenience for the firm's customers. These transactions had grown in volume to the point of becoming an inconvenience. Borup realized the need for such services, and from May 1, 1851 on he began dealing in bills of exchange, drafts, and collections on all parts of the country from an office in the same building his former employer occupied. Others followed Borup's example and by the end of 1853, Smith, Newell and Co., Wm. Brewster & Co. and C. H. Parker had established similar offices. The Minne- sota Pioneer issue of July 1, 1852 declared, "This is what we want—men of capital, cash men, and not paper banking institutions." And it may have been an article in the Minnesota Pioneer newspaper issue of Nov. 20, 1851, which trig- gered action in bringing Minnesota its first loan institu- tion. It stated, "An office at St. Paul, from which to borrow, not paper, but money, might facilitate the busi- ness of lumbering or Indian payments by anticipating sales or payments, and thus equalizing the amount of currency more between periods of payment, and pre- venting extreme pressure and tension." The response to this suggestion was not long in com- ing. Another employee of the American Fur Co. was Charles H. Oakes, who evidently had saved up consider- able money and now saw a chance to use it in a lucra- tive way. In January 1852, he opened a loan office and advertised his new office for the first time in the Weekly Minnesotian of Jan. 24, 1852. Others soon followed his example, and before 1853 at least three more such firms were in operation. It was only a short time later, in June 1852, that Borup and Oakes decided to merge. Their earlier association at the fur company, plus their experience gained while there, was turned into a profitable partnership. And thus was born Minnesota's first legitimate bank. But the new firm soon found itself entangled in the general financial picture of the Territory. The territorial legislature had not sanctioned any bank of issue, so there Paper 'VolleyPAGE 32 WHOLE NO. 18 Charles W. Borup was no problem with a Minnesota-issued currency. But a far greater problem was in the making, unseen until it had made great inroads on the economy. With no medium of exchange of its own, the area soon found it necessary to turn to outside currency. This came about gradually, and the initial practice of banker and storekeeper alike was to accept all notes in good faith. But the increase in both the volume and number of losses on worthless issues became so great that it be- came necessary to take a strict, realistic attitude in the matter of their acceptance. The great difficulty was in having quick access to outside banking centers to ascer- tain worth of a note. This became a grievous affair, as it was learned that even some defunct banks were mak- ing it a point to send agents to St. Paul with large quantities of their worthless issues. Business men at St. Paul finally petitioned the legisla- ture for official relief during the winter of 1853-1854. Their plea was for passage of a measure forbidding "the circulation of all bills. of whatever kind, with heavy penalties for the violation of the law." Such an Act was placed before the legislature but failed to pass. This legislative failure to prohibit outside currency may have been all that Borup & Oakes needed to take a bold step of their own—issuance of their own cur- rency. This took place in February 1854. Their ad- vertisement at the time stated that they would receive current bank notes on deposit, for which they would give "their certificates payable in like funds or in coin, or exchange on the east at current rates." This notice of intention to issue a form of currency drew almost immediate retaliation from the hostile anti- bank legislature. On March 4, 1854, it passed a law forbidding the issue by unauthorized persons of "bills or promissory notes, or checks, certificates of deposit, or other evidences of debt; for the purpose of loaning them, or putting them in circulation as money, unless thereto especially authorised by law." A fine of $100 was the penalty for such an act, with a $25 penalty for anyone aiding in the circulating of such issues. But Borup & Oakes continued to issue their notes for a time without legislative interference. Many business men welcomed this first issue of a legitimate bank in the Territory, a note of which is illustrated herewith. as it gave them a reliable currency for the first time. Charles H. Oakes WHOLE NO. 18 Paper Money PAGE 33 However good as they were, the small amount of notes placed in circulation by Borup & Oakes could in no way begin to satisfy the great and ever-growing needs of the community. For the most part, this currency was used only in the furtherance of their own business transactions. It is estimated that by mid-1854, the paper money circulating in the Territory amounted to over one million dollars, almost all of it from the East and South. In November 1854, St. Paul business men again met re- garding these vexing currency problems. A resolution was passed soundly condemning these outside notes. Establishment of banks of issue under the strictest pos- sible regulations was debated, but no recommendation in this regard was made. And again, a short time later, the 1855 Legislature took no action of any kind in these matters. Borup & Oakes, evidently emboldened by the continued inactivity of the Legislature as well as the success of their first issue, created another issue of currency in 1855. This second issue was redeemable in gold at a discount of only one per cent and practically placed the transactions of Borup & Oakes on a gold basis. This was in sharp contrast to their rivals, who were still deal- ing in heavily discounted outside notes. Unfortunately, no specimen of this second early 1855 issue is available for illustration; in fact, the writer has yet to see or hear of one. But this monopoly of issuing notes and placing itself on a gold standard brought down the combined wrath of all of Borup & Oakes' rivals against them. They banded together in refusing to handle any Borup & Oakes currency, an act which reduced its effectiveness consider- ably. This concerted opposition of many wealthy bank- ers reached the Legislature and stirred that august body into action in the form of a new restrictive law. At the 1856 session it voted to prohibit "the issue and circulation of unauthorized bills and currency," as well as making provision that payment of debts with these notes would henceforth be void. This latter part carried the necessary teeth which removed the monetary value from Borup & Oakes currency. It was impossible to overcome this legislative opposition, and by March 1856, the firm not only had ceased issuance of all such currency but also had begun the redemption of all notes outstanding. It was obvious that rival factions preferred to see the Territory subjected to doubtful out-of-State currency than to permit a home currency backed almost one hundred per cent by gold. The fact that only Minnesota- issued notes lost their value as payments of debts made this Act an "anti-Borup & Oakes" piece of legislation. Outside currency was not affected by this Act, bad as most of it was. So. despite the great increase in population in 1855 and 1856, it was now necessary to conduct business al- most exclusively with this outside currency from early 1856 onward. The real estate boom became so extensive that large sums of this currency passed hands many times in a short period of time, with no one bothering to determine the actual worth of the currency itself. As long as times were good, and one person knew he could pass it along to another in the same manner in which he had received it, there were few complaints. It was not until well into 1857 that the boom began to weaken. As an ever-increasing number of people were left holding either unpaid-for real estate or a pocketful of worthless currency, the money situation began to tighten by the day. Bankers began making short term loans only, a factor which in itself discouraged real estate buyers with little cash. Soon gold disappeared entirely from circulation, and hard specie of any kind became a very scarce commodity. This placed an even heavier burden on outside paper currency. And on August 28, 1857, a telegram reached St. Paul telling of the suspension of several Eastern banks and the Ohio Life Insurance and Trust Company. These Eastern firms dealt in exchange of discount cur- rency and were the sources of funds for Minnesota banks, which had been sending them such currency in exchange for cash at the firms' discount rate. With these firms now closed, a steady and sizable income for Minne- sota banks disappeared, and a void existed as to where to send future notes for discount and payment. The most immediate result was the refusal to accept all outside banknotes by Minnesota bankers, rendering the notes worthless. The people again were without a medium of exchange. Business came to a virtual stand- still as a result. Banks speculating in real estate were hardest hit. Marshall and Co., which had dormant real estate valued at $250,000 and bills receivable at $168,- 666.61, was the first to close its doors. This took place on Oct. 2, 1857. The next day Truman M. Smith sus- pended operations, with $300,000 in unpaid real estate mortgages on the books. Others of lesser size also fell by the wayside. But the unexpected, almost unbelievable, happened on Oct. 21, 1857, when the hitherto impregnable firm of Borup & Oakes suspended operations. The cause of this was related to the other closings, yet was not identical. Although Borup & Oakes had not delved into real estate to any extent, it was placed in the financially sterile posi- tion of being able to pay its own obligations but of being unable to realize on its own bills due from others. The Weekly Minnesotian issue of Oct 27, 1857, re- vealed that this firm had paid out $185,000 between Sept. 10 and Oct. 24, 1857, but had taken nothing in during the same period. Actually, its closing was a suspension of activities, not a failure. And so ended the one bright light in Minnesota Terri- tory's banking history—a completely reliable firm un- able to continue in business because of the utter collapse of its unsound contemporaries. We have reviewed the history of the first legitimate bank in Minnesota. Now let us examine its four contem- porary banks and their banknotes, all of them spurious in nature. Each was a thorn in the side of either the creation or the operation of Borup & Oakes. The first of these was: PAGE 34 Paper Money WHOLE NO. 18 THE BANK OF ST. CROIX This non-existent but note-issuing bank began at St. Paul in 1849. Its nefarious existence became known first in September 1849, when a stranger to residents of St. Paul calling himself Isaac Young induced a St. Paul resident named Sawyer to sign a large number of handsomely engraved pieces of paper (for a worthy com- pensation no doubt) on which were engraved the words, "Bank of St. Croix, Saint Paul, Minnesota," or some- thing very close thereto. The signer was given the understanding that they would be promptly redeemed when requested after issuance. Notes of this bank somehow got on an Eastern bank- note rating list at only a one per cent discount. This fictitious quotation was accomplished through an Eastern accomplice, no doubt, with the one false notation added to an otherwise legitimate list of discounted notes. After obtaining Sawyer's name on the notes, Young left Minnesota and headed down the Mississippi River, for soon notes started coming back from St. Louis for redemption. Inquiry revealed that Young was buying merchandise with these spurious notes on the strength of the favorable quotation and Sawyer's signature. Back in St. Paul, Sawyer stated he had signed only between $500 and $700 worth of this currency. But how much Young actually circulated will probably never be known, as there was nothing to prevent Young from forging Sawyer's signature on as many more notes as he desired. The writer has never seen a note of this issue, however. The Minnesota Pioneer issues of both Nov. 15 and Dec. 12, 1849, warned its readers that, if anyone heard mention of such an institution, they should consider it a "fraudulent, unlicensed concern." It might well have added also that the firm was also non-existent for all practical or legitimate purposes. Roving agents of bank note reporters soon picked up this information, although it cannot be said that they were on top of the situation in this instance. Presbury and Company's "Counterfeit Detector" finally printed the following: Bank of St. Croix—We have stricken this Bank from our "Detector" with this explanation. A few days previous to the issuing of our October number, Mr. Daniels of this city (St. Paul) introduced to us a gentleman by the name of Young, who informed us that he, with some other capitalists, were about to establish a Bank at St. Paul and showed us two notes —one of the denomination of "one dollar," the other for "two dollars." He also stated that but few had been signed, and that no more would be issued until the charter had been sanctioned by the authority of law. He 'eft these two notes with us, and money sufficient to redeem all that v.as issued. Upon this representation we mentioned the money in the Detector, giving holders of the notes information when they would be redeemed. Since the mention of the paper above alluded to, we have been advised that it is improbable that the Legislature of the Territory would grant any such charter. This adverse, if belated, publicity halted further cir- culation of this issue. Newspapers in both St. Louis and Galena, Ill. added their warnings for benefit of their readers. And so the operators of this enterprise were forced to abandon it—moving on to more lucrative fields, no doubt. The ill impact on Minnesota Territory itself was not very severe inasmuch as most of the spurious notes circulated in more southerly locations along the big river. CENTRAL AMERICAN BANK The biggest thorn in the side of Borup & Oakes was the firm of Richards Clarke and Company, which began an operation in St. Paul in July 1853, called "The Cen- tral American Bank." However, it functioned only as a sideline to the regular business of the firm, which was "Grocers, Importers & Commission Merchants," according to their business card. It is possible this legitimate business was used as a "front" for what could have been a far more lucra- tive operation, as the bank itself was difficult to find by those who came to locate it. The professed bank did not arouse the community against it until it began to circulate currency, which quite possibly was its main reason for existence. The Minne- sota Pioneer issue of July 21, 1853, was first to speak out against it. They stated, "The currency paid by government to the Territory, and disbursed to its citizens by the proper officers is the ONLY currency recognized by the constitution." A few days later indignant St. Paul business men met for the special purpose of denouncing this bank. The following resolutions were adopted: WHEREAS, A recent attempt has been made to circulate as money an issue of a so-called Central American Bank of this city, and WHEREAS, Such an attempt is antagonistical to the best interests of this Territory, and particularly to the interests of the business men of this city, Therefore be it RESOLVED, That we will oppose, under all circum- stances, now and hereafter, this and all similar attempts to impose upon us an illegitimate and irresponsible paper currency, RESOLVED, That the course pursued by the city press, in denouncing these "wildcat" issues, meets with our warm approbation. RESOLVED, That the proceedings of this meeting be published in all the papers in this Territory. With this united kind of opposition, the bank could not continue long. In January 1854, it gave notice that it would redeem all its outstanding notes until Feb. 1, 1854. This limited period of redemption is no doubt the reason for the present scarcity of this issue, as everyone holding the notes turned them in without delay so as to suffer no financial loss. The writer has yet to see or hear of any note of this issue. The last advertisement of this bank was in the Minnesota Democrat newspaper of Feb. 8, 1854. Illustrated here is what is undoubtedly the best con- temporary on-the-spot newspaper account of an early bank and its banknotes ever printed. It appeared in The Minnesotian of St. Paul on July 23, 1853. Paper Money PAGE 35WHOLE NO. 18 SellizffrimigivaisarigalftszonessfabIstsaforlcturge. TILE MINNESOTIAN. liaiat Pant, Sanizito, Snit' 23, 1013. AA11411111 et the same Breed of Bogs. Wrewersasiaided on Monday by a well-dressed and well-appearing young gentleman. a ho handed us the Sollotaing card CENTRAL AMERICAN BANE. R !CHARDS, CLARKE ex CO., Bankers and Dealersto Exchange. Collections rustic thr.orhhul lhn Tcr- Morn:Anil rem:dills...1 for at current Me. of Exchange. aunt east, Jell *3, 1363-4kE He then announced that this 'institution,' with whicbbe was connected, was about to cont- ltnelthe the issuing of bank hills. It is unneces- sary to State that we ' joined iSSlle . with him on that head, putting forth our well-known objec- ttoue to the establishment among no of any inch unauthorized and fraudulent concerns. TIe went on to state that he and his partners were perfectly able to redeem any amount of Inidasters they might issue ; that their credit was good for untold thousands at the East ; that he had conversed with several business men of St- Paul, who encouraged the operation, and many other matters not essential to mention. Ile further went on to say, that he was a good Democrat—had been no all his life—and had no doubt his firm would have sufficient influence next winter to procure a charter for their hank from the Minnesota Legislature and Con. Gor- man, and also get it through Congress—which, by the way, we will here take occasion to re- mind all wild-cat operators is essential to the validity of bank charters after they pass any TerrritoriaLLegislature. Well, the gentleman did ;lot succeed in converting anybody about the YInnesotlan office, so handing forth the fol- lowing Card, he retired J. M. RICHARDS & CO., Oreeers, Importers, 4 Commieion Merchant., flaT Water street, sad 20i Lake street, CHICAGO, ILLINOIS. to'rkti,:tfrfoee }few =Lc Lae:dOil!sc}t.O.ri 1. 5 cnAt:';!,.r IlbeaoYtnat Pails ISSIeeSteS Factory. Aurora for Mar' h's ralsrat 011• We gathered from this, that the gentleman leas Mr. Richards himself, of the 'banking' firm of Richards, Clarke &Co., St. Paul. So the .sequel demonstrated. Wednesday morning, our friend lion. Elam 'Greely, of Washington county, who had collie over the day previous, found himself in posses- aloe, al we are iotormed, of • few dollars of the "'Central American Bank," St. Paul, which he bad picked up somewhere on the St. Croix. None of the stuff had, at the time he took it, been offered for circulation here. None of our business men, so far as we could learn after dil- igent inquiry, would touch a dollar of it. We .panted just one dollar for a certain purpose, and had to go to the ' bank' for it. Mr. Rich- ards reiterated his arguments of Monday, with eta better success; and having procured the cue dollar bill of which the following is a copy, we left : CENTRAL AMERICAN BANK isos of (A) 1 x,:zartnotrA . tar inn., hack ground. WW pay ONE DOLL4R on demand 7, 1 to Lie bearer. Sr. l'Act., July 4, 185 3. 7, 1IL W. Clarke, Casa. I. I. Rlchsrd, Peat Thus, our readers know as much as we do About the 'Central American Bank,' and Its .proprietors, Messrs. Richards, Clarke & Co.; with the additional fact attached, that Mr. Richards Lean oil dealer in Chicago. Mr. Clarke has been 'pointed out to us in the street, but we never spoke to hiss. We know netting about them farther than this. But we have to say, that the liweleese In whteh thee have ennead Is not at all likely to elevate them in the estimation of :those among whom they have come to reside. We have made a thorough round among the business men and mechanics of St. Paul, sines' -we got hold of this one dollar bill, and are by them au thorized to state that they entirely and 'decidedly repudiate any such circulating =Ai- rum. They regard it as one of the ' same breed •of dogs' as the St. Anthony bank, though 'there was less boldness and more plausibility ln attempting to circulate it at the start. They, as we, knew there is no suck legal institution ma the 'Central American Bank' at St. Paul; 'consequently the very fret and main line on the bill convicts the parties of attempting to latter afreud—to deceive oar citizens into the Metier that a bank exists; when one really does mot. A bank for the Issue of promises to pay, signifies a legal corporation, capable of buying and being sued by its corporate name ; the „sate of Interest must be fixed by law; the ernonal of specie required to be kept on hand in proportion to the circulation is also fixed by law ; and in all the States where • sound, le- gitimate business in banking is done, bank com- misaionera, or other officers of the State, make annual or semi-annual visits to all the banks, and examine, under oath, the officers thereof touching the condition of their entire affair's.— A statement of this condition is then published for the benefit of the public ; and if any bank -Officer proves to have made a false return, of mousse be goes to the penitentiary for perjury. Added to ,all this, of late years, the system of banking having become open to so many abuses, It has been found necessary in moet of the States, particularly in the West, to bind clown bankers to a fulfillment of their obliga- tions by the exaction of ample collateral secu- rity. WM/. is called free banking has come Into general repute. That Is, any one who chooses can establish a bank, provided be Is able to deposite with the Treasurer, or some other officer of State, public stocks of par value, to She amount of every dollar he is allowed to is- sue. He receives his bank bills, before issuing, from this same officer, and he cannot issue bills procured from any other aource. If he fails to redeem at any time with gold and silver, his banking house is closed by summary process , the stocks deposited sold, and the circulation taken up with the proceeds. Says Thompson in the last number of his faithful Bank Note Reporter, of thin system of banking : "Moat of the States have now a General Banking Law, requiring Banks organized un- der the same to hypothecate security for their circulation. This is the only safe system of Banking, and the law should be adopted by all She States. The notes of the new Banks, we no- tice, are much better executed than formerly ; this is due to the public, who, in the course of business, have to receive them, and they are less liable to be counterfeited. We are glad to see the public, nay all classes of citizens, be- gintring to appreciate the difference between the bills of Banks under the security system and the old chartered monopolies, and hope MOB to see the latter repudiated by all." Now, we would like to have MessraRichards, Clarke A Co. explain why,'if their system—with no law to compel them under oath to render a true statement of their affairs ; with no author- ity vested In any officer to enter their banking- Louse and examine their papers, books, coin, pests and unbiiitien t with no legal restriction as to the amount of paper they may issue ; with no collateral security deposited anywhere Ibr the redemption of their bills, should they fail to pax,—why, we would ask, if their system, got np in this loom, fraudulent, irresponsible manner, is a safe one, have the people of all the States demanded of bankers the binding of themselveutiown to the stringent legal restric- tions we have tnentioned? It Is a question that admits of no argument ; and they can give no answer a Idyll will reconcile their conduct with correct business morals and public right. Bow do we know—how can any man know, the amount of this money' that may already be in circulation ? It may be scattered from here to Boston, as It appears It was first seen here In the bands of other than St. Paul's citizens. There may be five thousand dollars, fifty thou- sand, or five hundred thousand, and the public arc none the wiser as to the amount, and can- not be. It will not do for those Interested to state they are honest men, or to prove by good refer. ences they have been regarded as honest all their lives, or even to show they are men of ample means In carry on a banking Imaines% Angels base fallen ere now ; and so long as they are without the pale of the ISW, the public is at their mercy, if it starer them to gain its confidence. They are strangers here—came here without mating any previous arrange- ment with our loudness men, and like Smith, of St. Anthony notoriety. attempted to get their 'money' Into circulation 'on the sly.' .0 this looks eery suspicious, tl:ough n here they came from they may be regarded as honest as Cover's wife. We have no hesitation—and we feel well assured we will he sustained In the act by our people en ""use— in pronouncing the 'Central American Bank' a fraud upon the com- munity, and unworthy the confidence of any man in Minnesota. Courtesy of Minnesota Historical Society Reproduction of the newspaper account of The foregoing account reveals that this firm was a "bank" in name only: the title was adopted as a means for issuance of banknotes. Its operation without a charter, regulations of any kind, or even its own name- plate on its door or window would tend to make its spurious character self-evident. Here is a rare instance where the editors and publishers of a newspaper, J. P. the activities of the Central American Bank. Owens and G. W. Moore, actually conversed with a spur- ious operator and then recorded their conversation and observations concerning the party and his scheme. Their early expose of this firm was the main factor in keeping the loss to Minnesota citizens at a minimum, without any doubt. 00400.0•11., 11-■■■■1.11111 A , err, en(14•If. cirenntrereerecrmlinfrr— .1..*; n-renterain■Inn....-orwr,,,noonnonia,f, ,innrrer liftantetveita :19j- 4 .7, 71'eti 4114111Z: /f//m. #711VIDIL) 4- ,r k/x,r dA13°.`11:li. r'1"- r :7/ r://L7I PAGE 36 Paper Money WHOLE NO. 18 MERCHANTS' AND MECHANICS' BANK OF ST. ANTHONY This invalid attempt at banking resembled The Bank of St. Croix in the method of its origin. The first knowl- edge that Minnesota bankers had of such a bank or issue was upon the appearance of these notes among those being returned for redemption from their Eastern cor- respondents. When advised of the non-existence of this bank in Minnesota Territory, the Eastern bankers reported that the notes had been deposited by a man calling himself Israel Smith. Smith advised the bankers he was on his way to St. Anthony with a large amount of currency already printed to establish such a bank there. And about a month later Smith did get to St. Anthony. Upon his representation of starting a bank, he prevailed upon a well known resident of the town to sign notes of his "bank." Upon accomplishing this, he went the short distance to St. Paul, where he placed between four and five hundred dollars in circulation, in denominations from $1 to $10. This episode touched off considerable anti-bank and anti-banknote sentiment in Minnesota Territory. But Smith and his spurious issue were not heard from again and not too much financial damage was done in this in- stance, due mainly to the early warning that went out on them. MERCHANTS BANK OF MANKATO The last and probably least of the four spurious banks and banknotes was this purported Mankato bank. No record has been found showing any actual association or existence of such a bank in Mankato. Newspaper and bank reports of that period do not mention it at all. It is the belief of the writer that this was a fictitious issue of Eastern state origin. The use of a Minnesota location placed on the note very likely was an arbitrary one. Its remoteness and general inaccessibility served the purpose intended—that of discouraging redemptions. In or about 1857, W. L. Ormsby of the New York en- graving firm of W. L. Ormsby & Co. claimed he had $2—The Merchants and Mechanics Bank, St. Anthony's Falls (or St. Anthony), with signatures of Pres. Gilbert and the Cashier almost obliterated, dated Feb. 1, 1853. The first warning concerning this "bank" appeared in The Weekly Minnesotian issue of July 30, 1853, and was repeated in Thompson's "Bank Note Reporter." It read, "The public are cautioned not to take any bills purporting to be issued by the Merchants' and Mechanics' Bank, St. Anthony Falls, Minnesota, signed by J. B. Gilbert, president, and W. D. L. Brown, cashier—as it is a sure swindle—there is no Bank in that Territory— nor any responsible banking house of the above name." A description of the banknote was also given. Smith by this time was in Galena, Illinois, a city of good size at that time. Here he falsely claimed he had received Gov. Gorman's permission to establish his St. Anthony hank, thus giving the currency a legitimate value. But his success at Galena was very limited. He left that town, perhaps under some duress, for the avowed purpose "to make arrangements for the redemption of the bills." been robbed of a number of his stock engraved vignettes, counters, tools, etc. It turned out that every issue in which these purportedly stolen vignettes and counters were used was completely spurious. Among this latter group was the Merchants Bank of Mankato issue. The early 1854 date appearing on the Mankato notes is believed to have been part of the general deception— that of giving the impression the notes had been in valid circulation for three or more years. It is the personal opinion of the writer that this group of forty or more spurious issues were made by someone very close to the Ormsby organization, even including the use of that firm's facilities, because of the great similarity of work- manship and design displayed by both. Mankato itself did not have its origin until 1852. Growth was not rapid at the beginning, and the town had only a few log cabins in the first few years of its exist- MOS ii;e77te:407' 04X' +b ne (/),)//,./. /441A, • '// /1//// 77/ki WHOLE NO. 18 Paper Money PAGE 37 $2—The Merchants Bank of Mankato City, showing J. W. Jones, Cashier, and Wm. R. Rowan, President, dated Sept. 1, 1854. 85—The Merchants Bank of Mankato City, showing Geo. A. (lark, Cashier and A. N. Colgrave, President, dated Sept. 1,' 1854. $1—Borup & Oakes, St. Paul, Minn., dated Feby. 4, 1854, with written signature of the firm, "Borup & Oakes". PAGE 38 Paper Money WHOLE NO. 18 ence. Obviously, the need for a bank in 1854 would have been negligible. There was another issue (or issues) of notes dated prior to Minnesota. This was the State of Minnesota issue, of which there are two varieties, both of which were dated in January, 1858. These were made in con- nection with financing of the formation activities neces- sary to Statehood, and were not banknotes. Also, it would be difficult to pin a clear-cut territorial label on notes bearing a "State of Minnesota" notation. To the best of the writer's knowledge, this is the only Territory in the country which had but one legitimate banknote issuer during its territorial status. Although it expired like other early banks, much credit belongs to Borup & Oakes for creating a bank and banknotes of absolute integrity, in the face of most severe obstacles. IN MEMORIAM Fred R. Marckhoff The officers and members of the Society of Paper Money Collectors and the entire numismatic fraternity were shocked to learn of the sudden and untimely pass- ing of Fred R. Marckhoff, director of SPMC and assistant editor of PAPER MONEY. Mr. Marckhoff was stricken on Jan. 31, 1966, at the age of 55, shortly after arriving for work at his office at the Internal Revenue Service in Chicago. A lifelong resident of Elgin, Ill., a government career employee for more than a quarter of a century, a member of the American Numismatic Association since 1937, a charter member of SPMC and a veteran of World War II, he found his greatest satisfaction in studying obsolete paper money. His research was published in The Numismatist, The Essay-Proof Journal, Numismatic Scrapbook Maga- zine and Numismatic News, in addition to PAPER MONEY. He was also a frequent numismatic exhibitor. In 1964 he won the Howland Wood best-of-show award at the Cleveland ANA convention with his collection of obsolete paper money of the Indian Territories. Mr. Marckhoff will be especially missed by the SPMC because he was the driving force behind the projected reprinting of the Wismer catalog. His last article is featured in this issue of PAPER MONEY. Call for Annual Meeting The Society of Paper Money Collectors, Inc. will hold its sixth Annual Meeting at 12:30 P.M. on August 19, 1966, in the Florentine Room of the Pick-Congress Hotel in Chicago. As required in our by-laws, it is held in conjunction with the American Numismatic Association Annual Convention. For several years we have had Friday night dinner meetings which have conflicted with those of the Token and Medal Society. Many of our members belong to both organizations and therefore were faced with a choice. We have worked out an agreement whereby we will alternate—TAMS will hold a dinner meeting in Chicago and we will have a luncheon. Next year, in Miami, we will hold a dinner meeting and TAMS will hold a luncheon. We are hopeful that this arrangement will result in in- creased attendance at both functions. Six members of the Board of Governors will be elected and there will be some other business items on the agenda, but generally speaking, the meeting will be largely social. Come and see your old friends and meet the other paper money collectors. The Society also expects to have a suite at the hotel where our members can talk or swap notes. Bring your duplicates! For information on this suite, contact Mr. W. P. Donlon at his bourse booth at the convention. Our member, Bruno Rzepka, is handling arrangements for our luncheon, which will cost $4.50 per person. While we expect that there will be some tickets available in Chicago, it would be more convenient for you and a definite advantage to those planning the affair if you would send your check payable to the Society for your required number of luncheon reservations to Mr. Bruno Rzepka, 585 West Crockett, Elmhurst, Illinois 60127. Tickets will be promptly mailed. See you in Chicago! GEORGE W. WAIT President, SPMC EONIKH TPAn EZA EAAAA01 1841-!966 •• IrlinpliracipriulL,Mr,gumwtrwioce-vr,-w-gs IF 4. 14 ',WV. .1. 016 53Q( toize I4.- 217 .ruf a Pere AI, l is 70 \l , yr , , , rr( , (/ /j/ (,),A M3112.111wWWwvw w a r ; 1s.rVW111170116/4-111/EIEV J10 a EAAAE•HELLAS• 4.Px.6 4 4 WHOLE NO. 18 Paper Money PAGE 39 Banknote Reproduced on High Value of Greek Stamps Honoring Its Bank (Reprinted from Western Stamp Collector, Albany, Ore., with permission of the Editor, Wm. W. Wylie.) A good many postal adhesives have pictured postage stamps and many have reproduced coins in their designs. and now Greece is bringing out a stamp reproducing a banknote. It is the high value of a series of four stamps the Greek Postal Ministry is releasing March 30, 1966, to commemorate the 125th anniversary of the National Bank of Greece, according to word received from Athens by Pierson Ostrow, Burlington, Vermont. All four stamps are copper-engraved, in keeping with the character of the issue, with A. Tassos and Aspioti- Elkas continuing, as they have for so many years, as the designer and printer. Each stamp is inscribed "EONIKI TRAPEZA ELLADOS" (Greek National Bank) and the dates 1841-1966. There will be three million copies of the 1,50 drachmae green, which will reproduce a portrait by an unknown Italian artist of Jean Gabriel Eynard, a Frenchman born in Lyon, who contributed both to the struggle for Greek independence and then, through his own personal funds, to the creation of the National Bank of Greece. Two million copies of a 2,50 drachmae brown will reproduce a portrait of Georgios Stavros, Greek revolu- tionary who became the first Manager and Governor of the bank. The portrait is by Nikephoras Lytras, whose own portrait appears on the 1 drachma stamp issued on Feb. 28, 1966 as part of the recent "Greek painters" set. The four drachmae will be in deep blue and will show the head office of the bank, after an etching by Yannis Kefallinos. The building was completed in 1845 and is located on Loudovikou Square (today Cotzia Square) in Athens. Though still standing, it has since undergone many changes and expansions, the most recent having taken place in 1953-54. A million and a half copies of this stamp are being run off. The 6 drachmae high value, in jet black, will repro- duce a 25 drachmae banknote of the bank's fourth issue (1867), which was printed by the American Bank Note Company of New York. It shows a portrait of Stavros at the upper left, the Greek royal coat of arms at the lower right, and a sym- bolic scene across the upper center. The National Bank had been empowered to issue banknotes from the time PAGE 40 Paper Money WHOLE NO. 18 of its establishment. The printing on this high value will be a million copies. The bank itself was established by a law dated March 30, 1841. Its actual operations began on Jan. 22, 1842 and concerned itself at first primarily with mortgage loans and discounting. In 1845 it began to accept sav- ings deposits. Loans to agriculture started in 1861 and assumed a position of major importance from 1915 to 1928 with the creation of agricultural cooperatives in Greece. Loans to municipalities and government agen- cies date from 1881. Report on Low-Numbered 1963 $1 Federal Reserve Notes By Warren E. Herbert Many members of the Society of Paper Money Col- lectors are, like myself, new collectors of currency. Many of us have had our interest in paper money collecting stimulated by the release of the $1 Federal Reserve notes and have sought to complete sets of both regular and starred serial numbers. PAPER MONEY has been a source of rich information to me and I have particularly enjoyed articles setting forth the different types and methods of collecting, pre- serving, and displaying currency and the experiences of other members who share my particular interests. Through correspondence with many Society members, I know that not a small number share with me the search for low serial-numbered $1 Federal Reserve notes. At first we were told that none of the low numbers were to be released; however, as other members have reported, this is not the case. I would like to share the results of my efforts to obtain the lowest numbers possible from each Federal Reserve district in the hope of stimulating others to continue their search and to increase their cor- respondence with other members. Because of the geo- graphic distribution of Federal Reserve notes among the 12 Federal Reserve districts, I have found that interde- pendence upon other members is a necessity. I have also found many new friends through such correspondence and have completed many mutually rewarding trades. The majority of the notes listed here, including both five-zero starred notes, have been obtained through trad- ing with other society members. All of the following 1963 series $1 Federal Reserve notes are in crisp un- circulated condition and all of the notes are STARRED. Boston A00001352* New York B00001021* Philadelphia C00001235* Cleveland D00001060* Richmond E00007468* Atlanta F00000614* Chicago G00002732* St. Louis H00000297* Minneapolis 100006518* Kansas City J00001684* Dallas K00002399* San Francisco L00001139* These notes represent, to my knowledge, the lowest numbered complete set of starred $1 Federal Reserve notes 1963 series collected to date. I would especially like to hear reports from any members who have similar collections and lower numbered notes. Recently my interest has broadened to include matched serial numbers, and I have been able to obtain matches to two of the notes in the above set: (Again all of the notes are crisp uncirculated) C00001235* 1963 $1 F.R.N. G00001235A 1963A $1 F.R.N. F00001235A 1963 $1 F.R.N. H00000297* 1963 $1 F.R.N. C00000297C 1935A (Hawaii) $1 S.C. 000000297J 1935G $1 S.C. Y00000297A 1957B $1 S.C. All of us are looking for currency of specific denomina- tion, series, district, serial number, plate number, suffix letter, etc. Also, most of us have currency to trade that another member would like to have in his collection. So check your Society of Paper Money Collectors mem- bership rolls and start writing to those members who list interests similar to yours. You will be richer for it in many ways. (The author's address is P. 0. Box 3471, Columbus, Ohio 43214.) Paper MoneyWHOLE NO. 18 PAGE 41 r■TrEji„, :Is or .61*.i“cA C 00000297 J !LIZ Trr, ‘,4vrt litial2;11111Pr41"- 4Q5j'4;L113;-- C TUE I'Mkiiiit.4314,11_4(00:4111A04'.1 00000 .01111111111•■•■••.....resill.1111. 141 Lei F& F. turtritztlATE Tug; (miff tlittIOATIETMICWMiltiflidit, Y 00000297 A :Ezra 00000297 A 040... 1,101111141110. :,...-y.e.,4,..1011151.11 Luck role= ON 0 .45 11111411Thil rigifEWAVV-Ifillr TM' UNITED STATES ERIC k Z4r Four matched low-numbered 297 notes. The lower note is the only one thus far known numbered under 10,000 from the St. Louis district. PAGE 42 Paper Money WHOLE NO. 18 Important Notice The last membership directory was published in the summer 1964 issue of PAPER MONEY. Since then our membership has doubled, and many members have suggested that our list be brought up-to-date. Plans are being made for a new membership directory in 1966. This would show member's name, number, address and collecting specialty. The list will be printed separately from our maga- zine and furnished to our present members with some extras available for those who join later. If any member does not want to be listed in this directory, he should give immediate notifica- tion to our Secretary, J. Roy Pennell, Jr., Box 858, Anderson, South Carolina. Members who have changed their collecting specialty should give prompt notice to Mr. Pennell in order to be correctly listed in our new directory. * The Trading Post * The members listed below are interested in trading notes. Please contact them directly if you are interested in trading. The fee is $2.00 per listing for two issues. Please note new categories. All future insertions should be sent directly to the Editor. 1. U. S. LARGE NOTES 2. U. S. LARGE NATIONAL BANK NOTES Loell Loper 1051/2 E. Jefferson St. Bloomfield, Iowa 52537 3. U. S. SMALL NOTES Ronald Horstman Rt. 2 Gerald, Mo. Hubert A. Raquet 4010 Essex Court Indianapolis, Ind. 26226 5. FOREIGN CURRENCY Dr. Walter M. Loeb 4568 E. Mercer Way Mercer Island, Wash. 6. OBSOLETE PAPER MONEY (Colonials, Continental, Confederate, Notes, Scrip, etc.) C. J. Affleck 34 Peyton St. Winchester, Va. David Cox, Jr. Hartford, N. C. Wm. Mason Box 1 Washington, N. C. Broken Bank 4. U. S. SMALL FEDERAL RESERVE NOTES Jack Adelmann P. 0. Box 2211 Cleveland, Ohio 44109 Michael Dorish 308 Grove St. McKees Rocks, Pa. A. L. Hodson 373 W. Broadway Winona, Minn. 55987 Martin Vink 12419 S. Perry Chicago, Ill. 60628 Grant H. Woldum c/o Federal Reserve Exchange 116 River St. Decorah, Iowa 52101 Sam. G. McDonald McDonald's Importers Rt. 3, 12021 N. Lamar Austin, Tex. 78751 Claude W. Rankin 110 Anderson St. Fayetteville, N. C. 7. MILITARY CURRENCY (War, Occupation. Concentration Camp and Emergency Issues) 8. FRACTIONAL CURRENCY 9. MISMATCHED SERIAL NO. NOTES WHOLE NO. 1 8 Paper Money PAGE 43 President's Message Death has recently taken several of our members, in- cluding Board Member Fred Marckhoff. He was cer- tainly a great paper money collector, but more than that he was an inspired researcher, writer and tireless worker. The Society has suffered a real loss. Under Fred's guidance, the Society's revision of the Wismer obsolete currency lists was set in motion with the preparation of a standard format and the appoint- ment of chief researchers for most of the states. This country-wide project is to bring up to date the obsolete currency lists compiled by the late D. C. Wismer and published serially in The Numismatist in the years 1922- 1936. The original lists are being enlarged to include new bank note discoveries and all descriptions are being expanded. Scrip notes are to be included for the first time. The rarity of each note also will be indicated. The Board of Governors has elected Richard T. Hoober to complete the unexpired term of Mr. Marckhoff, and I have asked him to take Fred's place as chairman of the general committee and coordinator of this project. Serving with Mr. Hoober on this general advisory com- mittee are Dr. Julian Blanchard, Maurice M. Burgett, Harley L. Freeman, Mrs. C. Elizabeth Osmun (daughter of Mr. Wismer) and George W. Wait. A complete list of the Chief Researchers is to be pub- lished when we have had an opportunity to analyze Mr. Marckhoff's correspondence. However, we are aware that appointments have not been made for a few states. If you would like to volunteer for an assignment which will earn you only prestige and a sense of helping your fellow collectors, we would like to hear from you. All members having collections of obsolete notes are urged to submit descriptions of any notes not listed in the original Wismer. These descriptions should include bank or issuer, location, denomination, date (printed or written), name of engraver, description of vignettes and their positions on the note, and any other pertinent in- formation, such as whether the note is a proof, or coun- terfeit, altered or spurious. You may also indicate your estimate of the note's rarity. Those of you who have notes which are very rare and possibly unique will want them to be listed in the highest rarity classification. It is expected that the first states will be published in 1966 and that others will follow in rapid succession. Ex- cept for some specific information requested in an ad- vertisement in this issue, all correspondence connected with the Wismer project should be addressed to Richard T. Hoober, Box 196, Newfoundland, Pennsylvania 18445. GEORGE W. WAIT President, SPMC Wanted: Data on Rare Obsolete Notes Revisions of the Wismer lists of obsolete notes by the Society of Paper Money Collectors are nearly complete for some states and territories. Before proceeding with their publication, we would like to make a last appeal for descriptions of any unusual and unlisted banknotes or scrip notes. The descriptions should include name of bank or issuer, location, denomination, engraver, vignettes and their location on bill, and any other pertinent data. Data for the Indian Territory and the State of Oklahoma and for the Cherokee, Choctaw, Chick- asaw, Creek, Osage and Seminole Nations should be sent to Maurice M. Burgett, 10 North Douglas, Apt. I, Belleville, Illinois. Data for Florida Territory and the State of Florida should be sent to Mr. Harley L. Freeman, 353 South Atlantic Avenue, Ormond Beach, Flori Data for Texas should be sent to Mr. Robert E. Medlar, 3405 Avenue Q, Lubbock, Texas, or to Mr. Thomas C. Bain, 3717 Marquette Drive, Dallas, Texas. Data for Pennsylvania should be sent to Mr. Richard T. Hoober, Box 196, Newfoundland, Penn- sylvania. Data for Oregon and Washington should be sent to Dr. Walter M. Loeb, 4568 East Mercer Way, Mercer Island, Washington. See "President's Message," this issue, for general information relative to this project. PAGE 44 Paper Money WHOLE NO. 18 The Essay - Proof Journal A Philatelic Publication for Paper Money Collectors Gold is where you find it, and for paper money col- lectors it often is concealed in the literature of related hobbies. Stamp and coin collecting have always been allied like love and marriage, although the alliance some- times has been rocky. The phenomenal growth of paper money collecting out of coin collecting will draw stamp collecting even closer to the numismatic sphere. Both paper money and stamps are paper objects with similari- ties in production, design and production. This relationship has been recognized for several years by a small but powerful group of philatelists be- longing to The Essay-Proof Society. The somewhat cryptic name refers to essays (trial designs) and print- ing proofs of postage stamps. Specialists in this field organized in 1944 to publish a slick-paper quarterly magazine as a means of disseminating their knowledge. The resultant Essay-Proof Journal is now in its 89th issue, still a luxurious but functional medium. For the past ten years its masthead has proclaimed what be- came fact shortly after the Society was founded—"de- voted to the historical and artistic background of stamps and paper money." As proof of its devotion, each Journal contains at least one purely paper money article and another related to paper money. In most instances the paper money article occupies more of the customary 48-54 pages than any other single article. In content the articles are often reprints of rare, out-of-print books by and about such 19th century bank note engravers as W. L. Ormsby and Marcus W. Baldwin. Others are original studies of such subjects as "Queen Victoria on a Delaware Bank Note," "Story of the Western Bank Note and Engraving Co., Chicago," "Antecedents of the American Bank Note Co. of 1858," and "Felix 0. C. Darley Bank Note Artist, 1822-88." The author of the last-mentioned article, Mr. Thomas F. Morris II, is also a member of SPMC. His latest con- tribution to paper money literature is an intimate bio- graphy of his father, Thomas F. Morris, famed 19th cen- tury bank note and stamp designer. The first installment of this inside glimpse of the bank note business appears in the current issue of The Essay-Proof Journal. Mr. Morris is but one of the many Essay-Proof So- ciety members who also belong to SPMC. President of the society is Dr. Julian Blanchard, formerly vice-presi- dent of SPMC. Obviously, many knowledgeable numis- matists have found an invaluable source of information on production and design of both U. S. and foreign paper money in The Essay-Proof Journal. Those who have not yet been introduced to this picture gallery of the engraver's art are invited to write to the Secretary of The Essay-Proof Society, Mr. Kenneth Minuse, 1236 Grand Concourse, New York, N. Y. 10456, for membership applications. The annual fee of $10 includes four issues of the Journal. Proof of their value is the current selling price of some back issues; a numis- matic literature dealer recently asked $3.75 for them. A larger and more varied stock of past issues is available at non-profit prices from Mr. Minuse. The numismatist who is seriously interested in the history of his paper money would do well to investigate our sister society. WANTED OBSOLETE PAPER MONEY (Bank Notes, Script, Warrants, Drafts) tana, New Mexico, Colorado; Dakota, Deseret, Indian, Jegerson Territories! Cash paid, or fine Obsolete Paper traded. Have Proof notes from most states, individual rarities, seldom seen denominationals, Kirtlands, topicals; Colonial, Continental; CSA, Southern States notes and bonds. Also have duplicate Western rarities for advantageous trade. 4141414.14),LAJAW % ot+ R Ectte-r–or'Cuiiit .o ro.b‘, of the AMERICAN WEST Oregon, California, Idaho, Nevada, Arizona, Utah. Mon- JOHN J. FORD, J. 176 HENDRICKSON AVE., ROCKVILLE CENTRE, N. Y. 11 47 P. 4Wiffrf ■•• 114.,•....a a. IP ..... 4 Paper Money PAGE 45WHOLE NO. 18 The Fifty Dollar 1863 Inverted Green: A New Variety By Bryan R. Burnett Criswell's T57, but with the green tint inverted. Considering all the publications devoted to classifying Confederate paper money since the fall of the Confed- eracy, discovering a new, previously unlisted variety seems unlikely. But it happens. The new variety that I wish to report is a deviation of the fifty dollar 1863 black and green (Criswell's T57). As you probably already have noticed from the photograph, this new variety is unusual in that the green "tint" is inverted. Another oddity of this variety, although secondary in nature, is that the ornate green reverse usually present is absent. Of course, these notes do not bear the usual issuance marks—the red date overprint, serial numbers, and "FOR REGISTER" and "FOR TREASURER" signa- tures. This new variety also bears the watermark "CSA" in block letters with a wavy border line. At the time of writing this article I have two of these notes in my possession. (I had three, but I sold one.) Due to the time interval up to their discovery, I believe that these three notes are the only existing members of this variety. Each of these notes has different serial letters: XA, YA, and ZA. The XA note (which is now in the posses- sion of Philip H. Chase) bears the signature "Thomas Speed" in brown ink over the "Receivable in Payment of All Dues." The YA note is unsigned, and the ZA note bears the signature "H. Moore" over the "FOR TREASURER." As yet the owners of these two signa- tures have not been identified. (Mr. Chase compared these names with those appearing on the "FOR REGIS- TER" and the "FOR TREASURER" of other notes of the same period and came up with no similarities.) Disregarding the inverted green, these notes would be listed under Criswell's number 406. I therefore suggest that the number 406A to be applied to the notes of this variety. There is no doubt of the authenticity of these unusual notes. As I have indicated before, Mr. Philip Chase, who wrote "Is a Rare $100 Confederate Note a Myth?" in PAPER MONEY (Vol. 4, No. 3), has acknowledged the authenticity of these notes. I hope to see this new variety illustrated in Criswell's next edition of Confed- erate and Southern States Currency. A Two - Denomination Note By M. H. Loewenstern The two-denomination note shown here, if presented to a bank teller to be cashed, would be worth $20. The denomination on the obverse of the note governs the cash value. This note was one of the second emission of National Bank Notes issued to LOWRY NATIONAL BANK, Atlanta, Georgia. In accordance with Lowry's Charter No. 5318, this note was printed in the year 1900, Series 1882, the Second Charter period for National Bank Notes being from July 1882, to April 1902. The error on this particular note was not that of a simple error of the sheet being placed upside down on the intended reverse plate. Notes issued during this period were four to the sheet, each having a position No. A, B, C, or D. Since this note is a "C" or third position note, the correct reverse plate combination should have been (CONTINUED ON PAGE 46.) Paper MoneyPAGE 46 WHOLE NO. 18 Autobiography of a Collector By Alfredo P. Marcon NOTE: When Mr. Marcon became our 1500th member and was so notified by Mr. Pennell, he furnished this interesting background of his collecting experiences. Most of us consider paper money as an exciting hobby, but after reading Mr. Marcon's story, we must agree that other collecting fields can be more nerve tingling! G. W. At the end of the first World War my family (I was a little child at that time) had taken shelter at Chiusa- forte near Udine which was then a war zone. In their retreat the enemy soldiers, on their way back to their own countries, passed through our village and frequently left on the road war material of various kinds: machine guns, rifles, pistols, hand grenades, and munitions. My old grandfather busily picked up all the war material he could carry and accumulated it in our house with a view to founding an ordnance museum. During his collecting I helped and advised him; and often my advice influenced him both for the choice and for the quantity of the material gathered. Our house, after a few days, became as dangerous as a powder magazine, since the material we had so passionately collected was mostly explosive. In case of fire the war materials in our house would have blown up even the surrounding mountains, and the village would have been sponged out once and for all from the map. Luckily for all concerned, my mother, without our knowing it, wisely threw most of our collection into the waters of the mountain stream Fella. My grandfather and I succeeded in rescuing only a few guns. Our col- lection had probably started under an evil star because soon afterward we lost even that little we had saved from destruction. The village authorities tried to convince my grand- father to give up the guns he still had; at first he refused, but afterwards he "surrendered" on the promise that he would receive some money for each gun he handed over. Of course the promise was given only to make him deliver the weapons—there was no law to back up his claims. When he delivered the guns to the village authorities, there was a terrible row and my poor grand- father came home without guns, without money and with the marks of a good thrashing! My grandfather was beside himself with anger; if he could, I believe, he would have called back the enemies in revenge! From that time, my grandfather gave up collections and looked for solace in wine. I did not lose heart and soon afterward started a collection of empty boxes of a coffee synthetic; I can still remember the cover—there was the name of the manufacturer and a picture of a fac- tory with many smoking funnels. I liked to line them up, one beside the other. A girl a few years older than I supplied me with the boxes in exchange for a pound of coffee or of cheese, things that I used to steal from the grocery of my grand- father. In all, I gathered about 50 pieces and hid them in the garret. My mother soon discovered my secret and brought my crime to light so that even this collection (really a little too expensive, because foodstuffs were then very scarce) ended miserably. A few months later my family went to Trieste; I had to go to school and I gave all the attention I could spare from my collections to the lessons. I collected stamps, coins, picture postcards, old books and many other things. At last my family moved to Rome. In due time I went into business, and now I am in the antique trade. I am particularly interested in paper money, probably because when it is in uncut sheets, it reminds me of the synthetic coffee boxes which I once collected with so much enthusiasm, but without taking any notice of the variety, of the date of emission and, most of all, of the blows "issued" by my grandfather when he was no longer my friend. A Two-Denomination Note (Continued from Page 45.) 20-20-20-20. Combination plates for $10 notes were 10-10-10-10 or 10-10-10-20. Either of the above reverse plates could have been used. In any event there were most likely four irregular notes issued. All four of the $20 obverse notes have inverted $10 denominations or the "A" note has a $20 reverse inverted note, with the other three being $10 inverted reverse notes. This note was obtained by the writer from the Lim- pert sale conducted by Stack's in 1955. Stack's quoted that this note may be "unique." Has anyone else turned up any of the other three possible Lowry bank notes from this sheet? Paper Money PAGE 47WHOLE NO. 1 8 Auction Prices Realized (Auctioneers desiring to have the results of their sales of paper money reported here are requested to send their catalogs and lists of prices realized to the Editor, Barbara R. Mueller, 523 E. Linden Dr., Jefferson, Wis. 53549.) Reported by George W. Wait Federal Brand Enterprises, Sale of Jan. 20-23, 1966 UNITED STATES CURRENCY (Friedberg References) $1.00 LEGAL TENDER NOTES Lot 145. F.18-Series of 1869. Portrait of Washington-Co- lumbus and crew at left. Signatures of Allison- Spinner. Large red spiked seal. Printed on green and buff toned paper. Prac. Unc. 57.00 148. F.19-Series of 1874. Similar vignettes but with small red rays seal. Pin holes in center, otherwise Uncir- culated. 80.00 149. F.20-1875. Similar. Allison-New. Unc. 45.00 150. F.26-Similar only with signatures of Allison-Wy- man. Crisp Unc. 36.00 151. F.27-1878. Similar, Allison-Gilfillan. Unc. 40.00 153. F.30-1880. Similar, but with a large brown spiked seal, Bruce-Wyman. Crisp Unc. 35.00 154. F.34-Similar. Red scalloped seal and with the scarce signatures of Rosecrans-Nebeker. Crisp Unc. 45.03 155. F.36-1917. Similar but with signatures of Teehee- Burke. Crisp Unc. 17.00 156. F.37-As above, Elliott-Burke. Crisp Unc. 14.00 157. F.38-As above, Elliott-White. Crisp Unc. 15.00 159. F.40-Series of 1923. Portrait of Washington. Large numeral "I" and red scalloped seal. Speelman- White. Crisp Unc. 35.00 $2.00 LEGAL TENDER NOTES 163. F.42-Series of 1869. Capitol buildings, Jefferson at left. Large red spiked seal. Signatures of Allison- Spinner. V. Fine. 90.00 164. F.48-1878. Similar but with a small red rays seal and signatures of Allison-Gilfillan. Unc. 85.00 165. F.51-1880. Similar but now with a large brown spiked seal and with the signatures of Bruce-Gil- fillan. Crisp Unc. 60.00 166. F.56-Red scalloped seal, Tillman-Morgan. Crisp Unc. 57.50 167. F.58-1917. Same vignettes and seal, but with signa- tures of Elliott-Burke. Crisp Unc. 30.00 $5.00 LEGAL TENDER NOTES 169. F.62-Series of 1862. (Second obligation reverse.) Head of Alexander Hamilton, statue of Columbia at left. Small red rays seal. Chittenden-Spinner. Crisp Unc. 190.00 170.F.64-Series of 1869. Andrew Jackson at left, pioneer family and dog in center. Large red spiked seal. Allison-Spinner. Crisp Unc. 70.00 171. F.68-I875. Similar but with a small red rays seal and with the signatures of Allison-Wyman. Prac. Unc. 59.00 172. F.69-1878. Similar only with the signatures of Alli- son-Gilfillan. Crisp Unc. 185.00 174. F.72-Similar, but with a large brown spiked seal and signatures of Bruce-Wyman. Crisp Unc. 56.00 177. F.80-Similar, but with red scalloped seal and signa- tures of Tillman-Morgan. Crisp Unc. 56.50 178. F.81-Same only Bruce-Roberts. Crisp Unc. 55.00 179. F.82-Same only Lyons-Roberts. Crisp Unc. 60.00 180. F.85-1907. Same as above but this note has an or- nate numeral red V and with the signatures of Napier-McClung. Unc. 27.50 181. F.88-As above, Teehee-Burke. Crisp Unc. 23.00 $10.00 LEGAL TENDER NOTES 183. F.96-Series of 1869. Portrait of Daniel Webster at left. Columbus presenting an Indian princess which de- picts "Presenting America to Europe and Asia", at right. Large red spiked seal. Allison-Spinner. Unc. 175.00 184. P.99-1878. Similar but with a small red rays seal, Allison-Gilfillan. Prac. Unc. 180.00 $20.00 LEGAL TENDER NOTES 188. F.127-Series of 1869. Portrait of Alexander Hamil- ton at left, Victory advancing at right. Large red spiked seal. Allison-Spinner. Crisp Unc. 950.03 190. F.129-1878. Similar but with a small red rays seal and signatures of Allison-Gilfillan. Crisp Unc. 260.00194. F.133-Similar, but with a large plain red seal and signatures of Bruce-Wyman. V. Fine 70.00 200. F.142-As above, only with red scalloped seal and signatures of Bruce-Roberts. Crisp Unc. 145.00 1874 $50.00 LEGAL TENDER NOTE 201. F.152-$50.0C. Series of 1874. Benjamin Franklin at left. At right, Liberty dressed as Columbia. Red rays seal with signatures of Allison-Spinner. A very faint fold. Prac. Unc. 1,100.00 $10.00 COMPOUND INTEREST TREASURY NOTE 202. F.190410.00. August 15, 1864. 3 year Compound Interest note. Bust of Salmon P. Chase at left. The Goddess Ceres at right. In center, an eagle perched on a flag. Small red rays seal. Signatures of Colby- Spinner. Reverse has a computing interest rate chart. V. Good 750.00 $20.00 INTEREST BEARING NOTE 203. F.197-$20.00. April 15, 1864. One year Interest bear- ing note @ 5%. Abraham Lincoln at right. At left, female holding a wreath. In center at lower mar- gin, mortar and cannon balls. Red rays seal. Chit- tenden-Spinner. Reverse design bears the famous and often referred to DIAMOND BACK RE- VERSE. Ext. Fine 1,950.00 $50.00 INTEREST BEARING NOTE 204. F.212-$50.00. August 15, 1864. 3 year Interest Bear- ing note. In center, a defiant eagle. Small red rays seal. Signatures of Colby-Spinner. This note has a 1.821/2 cent coupon attached. A few minor folds but crisp and clean. Prac. Unc. 3,100.00 $10.00 REFUNDING CERTIFICATE 205. F.214410.00 Refunding Certificate, dated April 1st, 1879. Benjamin Franklin at left. A larger type red scalloped seal. Signatures of Gilfillan and Scofield. The reverse has the value TEN in large block type letters. Note has minor creases but crisp and a clean looking choice. Ext. Fine 850.00 Portrait of Martha Washing- seal. Tillman-Morgan. Crisp Eagle above the portraits of with the rare signature com- $1.00 SILVER CERTIFICATE 211. F.223-Series of 1891. ton. Red scalloped Unc. 219. F.231-Series of 1899 Lincoln and Grant 50.00 Paper Money WHOLE NO. 18PAGE 48 bination of Napier and Carmi A. Thompson. Crisp. Unc. 285.00 221. F.237-Series of 1923. Portrait of Washington. Blue scalloped seal. Speelman-White. Crisp. Unc. 13.00 222. F.239-With the rare signatures of Woods and Tate Crisp Unc. 51.00 $2.00 SILVER CERTIFICATES 225. F.245-Series of 1891. Portrait of William Windom. Red scalloped seal. Rosecrans-Nebeker. Crisp Unc. 240.00 229. F.248-Series of 1896. Educational note with the signatures of Bruce-Roberts. Crisp Unc. 251.00 231. F.254-Series of 1899. Portrait of Washington be- tween figures of Mechanics and Agriculture. Blue scalloped seal. With the rare signature of Napier and Thompson. V. Fine 265.00 232. F.256-As above only with the signatures of Teehee- Burke. Ext. Fine 20.00 $10.00 SILVER CERTIFICATE 240. F.285410.00. Series of 1878. Portrait of Robert Morris. Large red round seal. Scofield-Gilfillan and countersigned by A. V. Wyman. The reverse has the word SILVER spelled out in large block letters across the length of the note. Ext. Fine 1,750.00 $20.00 SILVER CERTIFICATES 241. F.307a-Series of 1878. Portrait of Stephen Decatur. Large red round seal. Signatures as foregoing. Re- verse has the spelled out word Silver, as the above. Has a large TWENTY instead of the XX on obverse. Crisp Prac. Unc. 2,150.00 244. F.314420.00. Series of 1886. Portrait of Daniel Manning between Ceres and Manufacture. Large brown spiked seal. Rosecrans-Huston. Reverse has a diamond design and referred to as the Double Diamond Back. Crisp Prac. Unc. 950.00 246. F.321-Series of 1891. Similar to above, but with blue value XX and blue scalloped seal. Parker- Burke. V. Fine 65.09 $50.00 SILVER CERTIFICATE 247. F.323450.00. Series of 1878. Portrait of Edward Everett. Large red seal. Signatures of Scofield-Gil- fillan and countersigned by A. V. Wyman. The re- verse word SILVER spelled out in large block letters. Prac. Unc. 2,450.00 TREASURY OR COIN NOTES 252. F.357-$2.00. Series of 1891. Bust of General James McPherson. Red scalloped seal. Tillman-Morgan. Ext. Fine 90.00 253. F.361-$5.00. Series of 1890. Portrait of General George Thomas. Red scalloped seal. Rosecrans- Nebeker. Crisp. Almost Unc. 262.50 254. F.36245.00. Series of 1891. Similar to above but with new type reverse design. Crisp. Unc. 140.00 $5.00 NATIONAL BANK NOTES 259. 12 .4C,445.00. Series of 1875. The Louisiana National Bank of New Orleans. Printed date, January 1st, 1866. Vignettes of Columbus and crew at left, in prayer. At right, a vi"nette depicting Columbus presenting an Indian Princess as AMERICA to three females who represent Europe-Asia-Africa 425.00 260. F.404-$5.00. As above, New York National Banking Association. Crisp Unc. 135.00 262. F.534-$5.00. Series of 1882. Reverse with 1882-1908 National Bank of Commerce in St. Louis. Crisp Unc. 110.00 263. F.537-As above. National Bank of Kentucky of Louisville. Crisp Unc. 80.00 266. F.595-$5.00. Series of 1902. Type with red seal, without the 1902-1908 on reverse. The Mellon Na- tional Bank of Pittsburgh. Crisp Unc. 65.00 268. F.598-Blue seal series of 1902. Medomak National Bank of Waldoboro, Maine. Ext. Fine 18.00 269. F.606-Same. Mount Kisco National Bank of New York. Ext. Fine 18.00 $10.00 NATIONAL BANK NOTES 274. F.577-Series of 1882. But with the value Ten Dollars spelled out on the reverse. The Commercial Na- tional Bank of Council Bluff, Iowa. Ext. Fine 100.00 281. F.624-Series of 1902. The Commercial National Bank of Tiffin, Ohio. Crisp Unc. 27.50 282. F.624-Same type but with district letter. First Na- tional Bank of Dublin, Georgia. Unsigned by either the cashier or president. Crisp Unc. 35.00 286. F.634-Without district letter. The National Kit- tanning Bank of Pennsylvania. Ext. Fine 23.00 $20.00 NATIONAL BANK NOTES 291. F.494-Series of 1882. The Traders National Bank of Rochester, New York. V. Fine 292. F.496-Same type. The Hanover National Bank of the City of New York. Crisp. Prac. Unc. 298. F.650-Series of 1902. The First National Bank of Ironton, Ohio. Crisp Unc. $1.00 FEDERAL RESERVE BANK NOTES Series of 1918. Type with portrait of Washington. Blue scal- loped seal. Four signatures. Reverse with a large defiant eagle perched on our flag. 302. F.710-Boston. Elliott-Burke. Willett-Morss. Crisp Unc. 308. F.715-Philadelphia. Teehee-Burke, Dyer-Passmore. Crisp Unc. 310. F.717-Elliott-Burke, Dyer-Norris. Crisp Unc. 311. F.718-Cleveland, Teehee-Burke, Baxter, Fancher. Crisp Unc. 312. F.719-Teehee-Burke, Davis-Fancher. Crisp Unc. 316. F.720-Elliott-Burke, Davis-Fancher. Crisp Unc. 319. F.722-Richmond. Elliott-Burke, Keesee-Seay. Crisp Unc. 321. F.726-Atlanta. Elliott-Burke, Bell-Wellborn. Ext. ine 30.00 322. F.729-Chicago. Elliott-Burke, Cramer-McDougal. Unc. 20.00 323. F.730-St. Louis. Teehee-Burke, Attebery-Wells. Crisp Unc. 65.00 327. F.734-Minneapolis. T e e h e e-B u r k e, Cook-Wold. Crisp. Prac. Unc. 70.00 331. F.742-Dallas. Elliott-Burke, Lawder-VanZandt. Ext. Fine 40.00 333. F.743-San Francisco. Teehee-Burke, Clerk-Lynch. Crisp Unc. 50.00 $2.00 FEDERAL RESERVE BANK NOTES (Jefferson and Battleship) 335. F.747-Boston. Teehee-Burke, Bullen-Morss. Unc. 341. F.753-Philadelphia. Teehee-Burke, Hardt-Passmore. Crisp Unc. 50.50 350. F.758-Cleveland. Teehee - Burke, Davis - Fancher Crisp Unc. 352. F.760-Richmond. Teehee-Burke, Keesee-Seay. About crisp Unc. 137.00 358. F.767-Chicago. Elliott-Burke, Cramer-McDougal Crisp Unc. 43.00 361. F.771-St. Louis. Elliott-Burke, White-Biggs. Ext Fine 101.00 363. F.773-Minneapolis. Elliott - Burke, Cook - Young Prac. Unc. 162.00 364. F.774- Kansas City. Teehee-Burke, Anderson-Miller Crisp Unc. 187.00 370. F.779-San Francisco. Elliott-Burke, Clerk-Calkins Crisp Prac. Unc. 99.00 49.00 90.00 35.00 24.50 35.00 22.00 25.00 28.50 19.00 34.00 Crisp 105.00 68.00 WHOLE NO. 1 8 Paper Money PAGE 49 $5.00 FEDERAL RESERVE BANK NOTES (Lincoln and blue seal) 373. F.782-New York. Teehee-Burke, Hendricks-Strong. 1918. Low serial number B7A. Crisp Unc. 90.00 374. F.785-Cleveland. Teehee-Burke, Baxter-Fancher Crisp Unc. 65.00 377. F.787-Elliott-Burke, Davis-Fancher. Crisp Unc 65.00 379. F.794-Chicago. Teehee-Burke, McCloud-McDougal Prac. Unc. 52.50 382. F.800-Kansas City. Series of 1915. Teehee-Burke and with penned signatures of Anderson-Miller. Ext. Fine 137.50 $5.00 FEDERAL RESERVE NOTES 383. F.833-New York. Series of 1914. Now with Lincoln's portrait in center. Red scalloped seal and only two signatures, Burke-McAdoo. Uncirculated 55.00 384. F.835-Cleveland. Similar. L o w serial number DI634A. Crisp Unc. 65.00 $10.00 FEDERAL. RESERVE NOTES 386. F.895-Cleveland. 1914. Portrait of Jackson. Red seal. Burke-McAdoo. Prac. Unc. 55.00 388. F.927-Atlanta. Now with blue seal, signatures of White-Mellon. Crisp Unc. 25.00 389. F.930-Chicago. Same type but with signatures of Burke-Houston. Crisp Unc. 18.00 $50.00 FEDERAL RESERVE NOTE 390. F.1040450.00. Chicago. Series of 1914. Portrait of Grant. Blue seal. With the scarce signatures of Burke-Glass. Crisp Unc. 90.00 $100.00 FEDERAL RESERVE NOTES 391. F.11064100.00. Atlanta. Portrait of Benjamin Franklin. Blue seal. Burke-Houston. Crisp Unc. 145.00 392. F.11104100.00. Chicago. Similar to above in all re- spects, even to the signatures. Crisp Unc. 125.00 GOLD CERTIFICATES 395. 81171410.00. Series of 1907. Portrait of Michael Hillegas. Gold scalloped seal. Parker-Burke. Unc Crisp 110.00 396. F.1173410.00. Series of 1922. Same portrait and seal, but with signatures of Speelman-White. Crisp Prac. Unc. 60.00 397. F.I178420.00. Series of 1882. Portrait of James Garfield. Red scalloped seal. Ext. Fine 70.00 398. F.1183420.00. Series of 1906. Portrait of Washing- ton. Gold XX and seal. Napier-McClung. Crisp Prac. Unc. 120.00 399. F.I184-As above, but with the scarce signatures of Napier-Thompson. Crisp Prac. Unc. 200.00 402. F.I187420.00. Series of 1922. Speelman-White. Crisp Unc. 100.00 403. F.1199450.00. Series of 1913. Portrait of General Grant. Value and seal in gold. Teehee-Burke. Crisp Prac. Unc. 200.00 404. F.12144100.00. Series of 1882. Portrait of Thomas H. Benton. Red seal. Teehee-Burke. Ext. Fine 275.00 405. F.121041,000.00. Series of 1907. Portrait of Alex- ander Hamilton. Gold seal, value in script letters. Signatures of Teehee-Burke. V. Fine 2,350.00 406. F.2400410.00. Series of 1928. (Small size currency.) Portrait of Hamilton. Gold seal. Woods-Mellon. About Unc. 40.00 407. F.2402420.00. Same series. Portrait of Andrew Jack- son. Same signatures. Crisp Unc. 80.00 408. F.2404-$50.00. Portrait of Grant. About Unc. 127.50 409. F.2405-$100.00. Same series. Portrait of Franklin About Unc. 175.00 INDIAN TERRITORY ITEMS 1606. Hailey Ola Coal Co. Trade Notes-5-25-50 Cents and $1.00. Issued and redeemed in merchandise at their store in Haileyville Indian Territory. Printed black on white, buff reverse. Four pcs. Uncir- culated 60.00 1607. 1. J. McAlester Trade Notes-5-10-25-50 Cents and $1.00 and $2.00 notes. Six pcs. In trade at their store for merchandise at McAlester Indian Terri- tory. Printed black on cream colored paper. Un- circulated 105.00 1608. Another set issued by J. J. McAlester-From the 5 cents to the $1.00 note. Five pcs. Printed black on cream toned paper with red imprinted reverses 130.00 1609. Rare Stock Certificate-8 shares of the Capital Stock of the Eufaula Bridge Co. issued to J. C. Bely. Dated August 3rd, 1903. At Eufaula, Indian Territory. Ext. Fine 110.00 Postage Currency Destroyed Ten years after the last release of postage currency in October 1863, more than 20 per cent of the amount issued was still outstanding. Treasurer F. E. Spinner indicated that postage currency was used extensively to pay Union troops in the field, in states then in a state of insurrection, and that the greater part of the amount unredeemed may have been lost at that time. He sug- gested $4,000,000 of the amount be written off as destroyed. FORREST W. DANIEL WANTED WISCONSIN NATIONAL BANK NOTES Collector wishes to acquire Wisconsin National Bank Notes, (EXCEPT MILWAUKEE) from all Wisconsin cities. Both large and small size notes are wanted. Premiums paid for choice $50 and $100 notes. Will pay ABOVE CATALOG for UNCUT SHEETS on Wisconsin banks. Write, describe notes in detail, and price all notes, post-paid. Premium paid for Donlon No. 6500. Friedberg No. 2406 WRITE TO: L. J. WALTERS Post Office Box 1051 Madison, Wisconsin 53701 Member: S.P.M.C. No. 415; A.N.A.; A.N.S., etc. Paper Money WHOLE NO. 18PAGE 50 Federal Reserve Notes, Series 1950D By Nathan Go1c[stein II The Series 1950D, which comprises the higher de- nominations of the Federal Reserve Notes, is destined to be the last of the completely issued currency from the flat presses. The chart with this article shows the final notes issued in this series for the three most popular denominations. This information was received too late to be included in the new Donlon Catalog. Of special interest at this time is the issuance of Series 1950E notes for three districts: New York, Chicago and San Francisco. It is understood that this will be con- tinued only for these three districts, although it is pos- sible that more districts or denominations might be included. 1966 will possibly see the complete discontinua- tion of the flat presses for currency production. We will also see the introduction of the higher value notes ($50 up) from the rotary presses and with the addition of the motto on reverse. The Series 1950E will also be the last series without the motto on the reverse. "A History of Virginia Banks" Reprinted excerpts from a 1907 book, A History of Virginia Banks and Banking Prior to the Civil War, will be featured regularly in the Virginia Numismatist, official publication of the Virginia Numismatic Association. SPMC member Charles Affleck, a director of the Asso- ciation, reports that the February 1966 issue also con- tains a short article on Bank of Rockbridge notes. This issue will be sent to SPMC librarian, Earl Hughes, for inclusion in the Society Library. Demand Note Redemption The quick redemption of United States demand notes was due to the fact that they were receivable for customs duties and were redeemable in gold. Gold was at a premium of 33 per cent and upward when legal tender notes were substituted for them, thus making three de- mand notes equal to four legal tender notes of like denomination. Demand notes were always the equivalent of gold, according to F. E. Spinner. FORREST W. DANIEL IN MEMORIAM Claude W. Rankin, Sr. A prominent North Carolina numismatist and pioneer member of the Society of Paper Money Collectors, Claude W. Rankin, Sr., died Jan. 11, 1966, at the age of 82. A leader in business, civic and church affairs in Fayette- ville, N. C., he also served as president of the North Carolina Numismatic Association. rx^ " 1-11 to to V 0 0 0 0 N 1-t - 0 ON 0 N .8 IQ 0 v 00 V U GO 00 Cn \I kr) 0 cc -1- ON 0, 00 4- N 0, 0, 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 C 1-11 tri tj C)1:0 > 0 0 0 0 N ■-■ 0 4_, tov Co 0 0'0 00 4. LA ■-ty N 00 00 CO GO v LO 0 0 0000 N 0 0 0 .6•0 0 0 0 0 0 0 0 0 0 0 ;4; 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ':L O 0 0 0 0 0 0 0 0 -4 tt (:J 0 0 a 0 0 0 0 0 0 4- N U) rt, W N to 1/40 b.) 0 LA N0, 0 GO N N 0 0 4.. 01N GCS N 0 0 0 • o 0 0 0 0 0 0 0 0 o o o o o o o o o o °o °o o o 00000000 aC) 0 t.J a, gr, 4- 0 LA VD 0 N +. 0 N N LO 00 0 ■-■ V 00 -1- CO O to f. 0 o o CO 4- a' 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 00 0 0 0 0 0 0 0 0 0 0 0 0 0 0:1tx/ tl 0, ■-■ co 0 00 4- W LO 0, -1=. 0` N N ■-d Co 4- to 1/4.0 •- 00 Co 0 4- '3") Co b., N 00 0 0 '1.0 ° 0 0 0 0 0 0 0 F,,t 0 ° 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 nc"-)c-Dr.)(:i t- cy-t ts) 0 Co b., 4- 4- LO "".N.0 0 ar, co oc a, o, 0 +- 0, cc V V to t0 .04- 00 LC 4- 0 4- N 0, 0' 0, 4- 0 0, 00 4. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o o o 0 0 0 0 0 0 0 o CJtonw>t-J> * * * * * * * * * * * * * * * * * * 4 5./D, n z, a s a _.• ° O r-;• ° Pa 2 c2 O W C z n - (G- 77. '11 tri n * * * * * C) (f) 1-11 ■-3 tri 17,r (") pda (4, tT1 (/) tri "71 L > a a tc) CA tri Pj X 0 0 > '11tzl ":1 z X 1-3 7j tri C7 C t-* b E; z 4"; o CJ 0 7c1 cn X ■-3 0 tt tTI trJ Cf) PZJ '71 tx, > tri to tri 5-/) Cf) PC1tT1 Cl) t1 > (1) cn * * * * * * * * * * * Paper Money PAGE 51WHOLE NO. 1 8 SECRETARY'S REPORT New Membership Roster Dealer or Collector Specialty 1591 Rexford H. Meadows, 5339 West George St., Chicago, C Ill. 60641 1592 George T. Robak, 534 Coleman Ave., Johnstown, Pa. C, D All coins 1593 ORL Coin Club, P. 0. Box 30, State College, Pa. 16801 C Small size currency 1594 Don C. Kelly, 5354 Hillcrest Dr., Oxford, Ohio C 1595 Sammy Slate, South English, Iowa 52335 C, D 1596 W. H. Dye, 2842 S. Troy, Chicago, III. 60623 C 1597 Frederick Earl Kennedy, 309 North Carender St., Ho- C bart, Ind. 46342 1598 Ed F. Krause, No. 85 W16203 Appleton Ave., Meno- C monee Falls, Wis. 53201 1599 Rudolph Mark Kaiser, 550 East 100 North P. 0. Box C, D K. Brigham City 1, Utah 84302 1600 John E. Tidwell, 408 Cunniff Parkway, Goodletsville, C, D Tenn. 37072 1601 Donald C. Hoge, Box 122, Owen Hall, West Lafayette, C Ind. 47906 1602 Neville F. Hodson, Box 246, Seward, Alaska C 1603 David L. Spahr, 216 S. LaPeer Dr., Beverly Hills, Cal. C 90211 1604 E. Foedish, 2666 Edgewood Rd., Utica, N. Y. C Small bills 1605 Donald L. Koehler, 35 Belvidere St., Nazareth, Pa. 18064 C, D Great Britain, Germany coins, U. S. paper money 1606 Mrs. Esther Anaszewski. 14328 Bensley Ave., Burnham, C Silver certificates Ill. 60633 1607 Bertha Moretti, 1503 Wilmington Rd., New Castle, Pa. C, D 16101 1608 Richard M. Rodrigues, 1015 Via Madrid, Livermore, C Silver certificates, federal reserve notes, selected Calif. 94550 older notes 1609 Earl Haynes, RR #2 Newbold Rd., Owensboro, Ky. C, D Odd and small serial numbers, FRN stars and 42301 large currency 1610 Malcolm 0. E. Chell-Frost, 120 Tremont St. Rm. 328, C, D U. S. Boston, Mass. 02108 1611 George Geer, 596 Broad St., Bridgewater, Mass. D 1612 Peter C. Horner, 1180 Inca Trail, Lake Orion, Mich. C 48035 1613 Frank G. Burke, 31 Merrill Ave., Lynn, Mass. 01902 C 1614 George A. Ullrich, 7434 Dorchester Ave., Chicago, Ill. C 60619 1615 William H. Marmon, 9700 Mohawk Drive, Overland C Park, Kans. 66206 - 1616 Harold F. Daum, M. D., 1517 West 4th Street, Sedalia, C Mo. 65301 1617 Paul W. Cummings, 141 Gardena Drive, Turtle Creek, C Small size U. S. Pa. 15145 1618 John L. Povejsil, 4918 Edgepark Dr., Garfield Hts., C U. S. & Canadian Ohio 44125 1619 Hubert W. Carcaba, P. 0. Box 1, St. Augustine, Fla. C General & U. S. 32084 1620 Donald Jensen, 12075 Joandra Court, Los Altos, Cal. C U. S. 94022 1621 Donald L. Judson, 10484 E. Valley Blvd. Apt. 94, El C Monte, Cal. 1622 Charles D. Tonay, 309 Mauch Chunk St., Nazareth, Pa. C 18064 1623 William W. Turner, 1224 Stahlman Bldg., Nashville. C, D Tenn. 37201 1624 Roy E. Kuester, 136 N. Harrison, Centralia, Ill. 62801 C, D 1625 Jose M. Laracuente, DM D, Apartado 464, Rio Piedras, C Puerto Rico 00928 1626 H. W. Montgomery, 780 West 6th St., Garner, Iowa C U. S. type & Iowa nationals 50438 1627 Agustin Lopez, S., P. 0. Box 482, Guayama 655, Puerto C Rico No. New Members All types of paper currency General Paper money, domestic and foreign General, U. S. and foreign Large and small currency U. S. U. S. obsolete Small U. S. currency Silver certificates Coins, stamps, small paper currency U. S. coins and currency (small) Early large U. S. Fractional & Low Denomination U. S. U. S. Small size U. S. Large size U. S. U. S. World paper money Paper Money WHOLE NO. 18PAGE 52 1628 L. R. Weitzel, 5300 Remington Drive, Alexander, Va. 22309 1629 Homer M. Davis, Mt. Verncn, Mo. 65712 1630 Edwin L. Dial, 267 N. 7th West St., Salt Lake City, Utah 84116 1631 E. L. Sander, 569 Kenilworth Dr., Pittsburgh, Pa. 15228 1632 John L. Abernathy, 27-A Brookwood Garden Apts., Burlington, N. C. 27215 1633 Gene C. Mallette, 7C8 W. 10th Street, Atlantic, Iowa 50022 1634 William H. Carswell, 1307 McRee Drive, Valdosta, Ga. 31603 1635 Lloyd Wm. Barnhart, 20 Zeigler Road, Chillicothe, Ohio 45601 1636 Yolanda Lujan, 14843 Morgan, Apt. 4, Harvey, III. 60426 1637 Mrs. B. J. Obarski, 2986 S. W. 3rd St., Miami, Fla. 33135 1638 Franklin D. Beasley, P. 0. Box 465, Centralia. Ill. 1639 Ernest E. St. Laurent, 87 Green, Jamaica Plain. Mass. 02130 1640 Albert W. Lee, 6306 N. Lakewood, Chicago, Ill. 60626 1641 Dr. Omar W. Steward, 822 Rolling Rock Road, Pitts- burgh, Pa. 15234 1642 Lloyd P. Sloan, Jr., P. 0. Box 1007, Washington, N. C. 27889 1643 Loell Loper, 1051/2 E. Jefferson, Bloomfield, Iowa 52537 1644 Fred L. Buza, P. 0. Box 4164, Milwaukee, Wis. 53210 1645 M. Forest Speck, 1190 Fitzgerald Lane, Hanford, Cal. 93230 1646 Paul Barletta, 2408 Hainsworth Ave., North Riverside, III. 60547 1647 John W. Miller, P. 0. Box 246, Camarillo, Cal. 93010 1648 Joseph C. Robinson, 19 Pleasant View Dr., Dalton, Mass. 01226 1649 House of Yesterday, 14th & Burlington Ave., Hastings, Nebr. 68901 1650 James A. Anderson, 701 Floral Street, Opelika, Ala. 36801 1651 I. M. Taylor, 16 Covington Rd., Buffalo, N. Y. 14216 1652 William S. Houston, 610 Elmwood Dr., Greensboro, N. C. 27408 1653 .James H. Hendrix, Rt. #6, Spartanburg, S. C. 29303 1654 Dr. .Jerome W. Neuss, 1226 Burnet Ave., Union, N. J. 07083 1655 Dr. Robt. 0. Gabel, 1817 Poplar St., Erie, Pa. 16502 1656 Duane M. Tucker, Plentywood, Mont. 59254 1657 Dale R. Brinker, 1161/2 E. Cuyahoga Falls Ave., Akron, Ohio 44310 1658 Hanis L. Thurston, P. 0. Box 202, Farmington, N. H. 03835 1659 Arnold McDermott, MD, 114 South 53rd St., Omaha, Nebr. 1660 E. Kirchoff, 922 Alpine Drive, Brando, Ha. 33511 1661 Ambrose J. Brown, 63 Pond St., Marblehead, Mass. 01945 1662 R. Thomas Conklin, 120 Kenilworth Place, Brooklyn. N. Y. 11210 1663 John A. Sauciunas, 124 Price St., Kingston, Pa. 18704 1664 Irving Golden, 126V2 N. Kenmore Ave., Los Angeles, Cal. 90004 1665 Berry M. Smith, 3220 W. 95th, Leawood, Kans. 66206 1666 Claude C. Eckert, 1136 Tilghman St., Allentown, Pa. 18102 1667 Paul f. Rose, 259 Congressional Lane, Rockville, Md. 20852 1668 Irving Keiser, 3783 Pukalani Pl., Honolulu, Hawaii 96816 1669 John K. Kuhn, Jr., 35-28 77th Street, Jackson Heights, N. Y. 11372 1670 George B. King, 9901 Edgehill Lane, Silver Spring, Md. 1671 John F. Wall, 2110 Wolcott St., Flint 4, Mich. 1672 Bruno Rzepka, 585 Crockett, Elmhurst, Ill. C U. S. type, military currency & foreign C General C, D Kirtland, Ohio, notes C Silver certificates C, D Small size U. S. C Small size U. S. & types C Small size U. S. & notgeld C U. S. C C Small size U. S. C, D Oriental paper money C Small size U. S. C U. S. type & small size C Small size U. S. C C U. S. & Canada & U. S. nationals D U. S. C U. S. C C U. S. type notes C Silver certificates C Public Museum C Small size U. S. C U. S. C $1 notes C Broken bank notes C C Modern currency C Small size U. S. C Foreign C C C U. S. C, D U. S. C Small size $1 & $2 C Small size national currency C U. S. type & colonial C U. S. C U. S. C Small size U. S. C Topical notes with insects C, D U. S. & obsolete C Small size U. S. C, D Small size $1 C Printing errors Paper Money PAGE 53WHOLE NO. 18 1673 A. Douglas Ramsey, 118 Woodlawn Center, Littleton, C, D Colorado currency Colo. 1674 Morgan R. Johnson, 2224 National Road West, Rich- C Small size U. S. mond, Ind. 47375 1675 Douglas B. Ball, 3100 35th St. N. W., Washington, D. C. C CSA. Broken bank, southern states 20016 1676 E. T. "Gene" Marsh, 4 Castlewood Dr., Pleasanton, Cal. C U. S. 94566 1677 M. Clinton McGee, P. 0. Box 2835, Univ. of Alabama, C Obsolete currency University, Ala. 35486 1678 George Hnottavange, P. 0. Box 28, McClellandtown, C U. S. & obsolete Pa. 15458 1679 Merritt R. Ogden, 1 Hamilton Ave., Stamford, Conn. C General 06902 1680 David L. McDanels, P. 0. Box 8671, Cleveland, Ohio C U. S. 44135 1681 John W. Brinsfield, P. 0. Box 968, Decatur, Ga. 30931 C $1 silver certificates 1682 George M. Shubert, 24 Kedron Ave., Morton, Pa. 19070 C Small size U. S. 1683 V. L. Roberts, 401 N. Section Ave., Spring Valley, Minn. C U. S. 55975 1684 Clifford R. Lambert, 2020 So. 9th St., Ironton, Ohio C Small size U. S. 45638 1685 Donald M. Donaldson, 536 E. LaSalle, Royal Oak, Mich. C U. S. & Canadian 48073 1686 Arthur J. Ottowitz, 520 Middle River Drive, Ft. Lau- C derdale. Fla. 1687 James G. Gamble, 207 Winchester Rd., Akron, Ohio C, D General 44313 1688 A. J. Rummel, 419 Pike Road, San Antonio, Texas 78209 C Early Texas notes 1689 James R. Weiland, 794 4th Ave., Aurora, III. 60505 C Small size U. S. 1690 Arden H. Brame, Jr., 3103 South Hoover St., Los C Fractional currency Angeles, Cal. 90007 1691 Dick Rath, 7041/2 Manchester Ave., Los Angeles, Cal. C U. S. 90045 1692 Enoch E. Roseman, 599 - 4th Ave., West Cape May, N. C 1. 08204 1693 Raymond J. Hebert, 3111 Naylor Rd. S. E., Apt. 102, C Muslim & Russian Washington, D. C. 1694 James D. Lytle, 125 Wm. H. Taft Rd., Cincinnati, Ohio C Obsolete & national bank notes 45219 1695 N. H. Deutsch, 336 Plandome Rd., Manhasset, N. Y. D 11030 1696 D. 1. Torrance, 7742 Whitefield Place, La Jolla, Cal. C U. S. 92037 1697 Ted Scott, Jr., 619 Lafayette Rd., Hampton, N. H. 03842 C Small size U. S. 1693 Charles H. Manhart, 4923 Wyoming Ave., Harrisburg, C $1, $2 large and small size U. S. Pa. 17109 1699 James N. Heine. 2064 Dayton Dr., Lemon Grove, Cal. C General, errors 92045 1700 James J. Babka, 15250 So. Ridgeway. Midlothian, Ill. C Obsolete Illinois notes 60445 Change of Name or Address 1508 John C. Coleman, 1231 Quinn Street, Jackson, Miss. 39202 747 Anthony Bacco, 49 Garibaldi Ave., Lodi, N. J. 07644 1323 F. P. Peppard, 1910 Skillman, Dallas, Texas 75206 792 Raymond E. Whyborn, 3147 Satellite Dr., San Antonio, Texas 78217 547 Rudolph I.. Leuckart, P. 0. Box 586, East Cleveland, Ohio 44107 1458 Jim C. Crockett, 512 Elizabeth St., Irving, Texas 75060 1215 Martin Roberts, 1320 Garfield, Denver, Colo. 80206 78 E. Burnell Overlock, RFD #1, Buzzards Bay, Mass. 02532 40 Harold L. Bowen, P. 0. Box 1093A, Detroit, Mich. 48232 1023 G. L. Seaman, 1018 Dixie Highway, Rossford, Ohio 43460 21 Kingsley Falkenberg, Box 897 G. P. 0., New York 1, N. Y. Paper Money WHOLE NO. 18PAGE 54 602 N. M. Hoffman, 5538 Mapleridge Dr., Cincinnati, Ohio 45227 1430 Hanover Numismatic Society, c/o Margaret Wildasin, 919 York St., Hanover, Pa. 17331 892 Mrs. .judy Cahn, P. 0. Box 49824, Los Angeles, Cal. 90049 970 Michael Warmbier, Rt. 2, Box 467, Auburn, Mich. 48611 1161 Samuel S. Mack, 3018 Lyndale Ave. So., Minneapolis, Minn. 55408 1258 William C. Marquand, 2825 Sanford St., Muskegon Hts., Mich. 49444 729 Hubert A. Raquet, 4010 Essex Court. Indianapolis, Ind. 26226 121 Forest W. Daniel, Box 214 Cove Sta., Weirton, W. Va. 26062 658 Joseph A Lange, 11741 Saticoy St. Apt. 16, No. Holly- wood, Cal. 91605 1020 Christine A. McGuire, 2048 Charlton Ave. #202, Ann Arbor, Mich. 797 Dr. Sidney G. Radbill, 19 Henley Rd., Philadelphia, Pa. 19151 411 G. E. Tillson, P. 0. Box 51, Macedon, N. Y. 14502 170 Frank R. Schell, P. 0. Box 1122, Twin Falls, Idaho 83301 441 William H. Smrekar, 364 Bonniewood Dr., Cleveland, Ohio 44110 704 Wayne L. Morgan, 106 W. Cook St., Springfield, Ill. 1234 Robert j. Rooks, 407 Tanglewood Dr., Jamestown, N. C. 27282 1174 Donald A. Rathbun, P. 0. Box 5147, Madison, Wis. 53705 465 James Webb, P. 0. Box 201, Pontiac, Mich. 48056 860 Robert L. Gardner, 1625 Appleton St., Long Beach, Cal. 90802 286 William C. Hatcher, 713 Parrott Ave., Kinston, N. C. 28501 1002 George F. Hensel, 7842 Creekview Circle, Indianapolis, Ind. 46250 838 Calvin H. Gray, P. 0. Box 2194, State College, Miss. 39762 393 David W. Karp, 10245 Collins Ave., Miami Beach, Fla. 33154 1053 Emmett Klopfenstein, P. 0. Box 2157, El Monte, Cal. 91732 1069 Michael J. Kotsobos, Carington Court Apt. 5, Cary, N. C. 660 Kurt E. Eckstein, 101 Edgewood Dr., Streamwood, Bart- lett, Ill. 898 Jim Tom Nichols, Rt. 2, Tulia, Texas 79088 1028 Stephen Bogoff, c/o Haas Coin Co., P. 0. Box 24595, Los Angeles, Cal. 90024 535 Carl W. Dethlefs, P. 0. Box 248, Arcata, Cal. 95521 16 Dr. John H. Swanson, 3618 San Jacinto St., Houston, Texas 77004 1491 John Upmeyer, 2702 Avonhurst, Troy, Mich. 48084 707 Louis W. Van Belkum, Ill, 1697 41st St. S. W., Wyo- ming, Mich. 49509 73 John T. Walker, P. 0. Box 141, Etowah, N. C. 28729 208 R. Harvey Anselm, P. 0. Box 18034, Wichita, Kans. 67218 323 T. Homer Brooks, 3809 Wentwood Dr., Dallas, Texas 75225 546 James L. McKee, 158 Lakewood Dr., Lincoln, Nebr. 68510 873 H. M. Rosenberg, 6500 Chill= Pl. N. W., Washington, D. C. 20012 1215 Martin Roberts, 1320 Garfield Apt. 4, Denver, Colo. 742 Jerome H. Remick, P. 0. Box 183, 2900 Quatre-Bour- geois, Quebec 10, P. Q., Canada 755 Mevlert M. Armstrong, 63 Hagan Dr., New Hope, Pa. 18938 309 B. R. Brady, 1808 Texas Ave., Libbock, Texas 79401 Paper Money PAGE 55WHOLE NO. 1 8 1476 Dorthy Humitsch, P. 0. Box 91075, Cleveland, Ohio 44101 1483 R. Thornell Mauer, MD, 1420 Medical Arts Bldg., Omaha, Nebr. 68102 1273 Dorothy J. Hathaway, P. 0. Box 1653, Wilmington, N. C. 28401 305 Richard Picker, P. 0. Box 123, Albertson, N. Y. 11507 301 Edgar J. Tucker, P. 0. Box 269, Keyser, W. Va. 26726 802 Neil J. Wimmer, 2324 Westover Terrace, Burlington, N. C. 27215 413 Major J. E. Wilkinson, 101 Rose Lane Apt. 3A, Rome, N. Y. 13440 1359 John Bastolich, 4911 University N. E., Minneapolis, Minn. 55421 1315 Edward Ploner, 8012 7th St., Buena Park, Cal. 90620 1301 Elmon R. Johnson, P. 0. Box 7301, Daytona Beach . Fla. 32016 853 George I. Davison, 6602 N. Park Plaza Drive, Kansas City, Mo. 64116 1038 W. C. McCurdie, 1221 W. Valley Rd., Wayne, Pa. 1908, 1001 Raymond F. Clarke, 1820 Howe Lane, Maple Glen, Pa. 19CO2 4 Lt. Howard Lisech, 1674B Potomac Loop, Ft. Belvoir, Va. 22060 1494 Mrs. 'Susan Fox, c/o SP5 Ernest Fox, Jr., 4th Ord. Co. APO, New York, N. Y. 09180 170 Frank R. Schell, P. 0. Box 1122, Twin Falls, Idaho 83301 1183 Maurice A. Lonzisero, 2 Jackson Street, New Rochelle, N. Y. 10801 1513 Robert M. Hawes, P. 0. Box 220, Seacliff, N. Y. 11579 1192 Harold A. Bertholf, 6137 Jefferson Rd., Ashtabula, Ohio 44004 1500 Alfredo P. Marcon, Via dei Coronari, 112, Roma 2, Italy 1162 Robert Babbish, P. 0. Box 109, Plainsboro, N. J. 1465 Paul H. Munson, 2120 South Minnesota, Wichita, Kans. 67211 878 Grant E. Anderson, 1017 So. 19th St., Fargo, N. D. 58102 1271 M. D. Stiman, 5524 Corteen Pl., N. Hollywood, Cal. 91607 1373 Maj. Peter A. Graubard, 1075 B Ulithi, APO San Fran- cisco, Cal. 96334 1471 Mrs. Barbara H. Rothleitner, 901 W. Main, Tomball. Texas 77375 1455 Lew Bennett, P. 0. Box 1313, Brownwood, Texas 76802 1281 Robert E. Marrin, 6200 Riverdale Ave., Bronx, N. Y. 10471 1485 Ray D. Sanders, P. 0. Box 4141, Wichita, Kans. 67204 1323 F. P. Peppard, 1910 Skillman, Dallas 6, Texas Reinstated 344 Dr. George Fuld, 469 Sandhurst Rd., Akron, Ohio 44313 Name Correction Resignations 1381 Dan Rochin 1296 Charles M. Baney, M. D. 1088 Clifford C. Snyder 801 Raymond A. Beacham 687 Mrs. Joseph Struzinsky 390 Eddy Echenberg 214 Bill Winters 1489 Harvey E. Elfemstein 1098 Delmar C. Wise 1019 Albert Hawthorne 622 Larry E. Young 1 304 Charles A. Haskins 604 George Dehmel 1 1 30 Norman Martin 1124 Floyd H. Clark 951 Philip J. Medicus 1091 Richard E. Buenger Assignats of French Revoinntionn 4 Srie 329.3 4,,It7g 47 *71i• . Assignat de-cinquante-sols, pbyrib hart.—poire w. (new and well marginated) 50 sols (May 23, 1793) $ .50 5 livres (Nov. 30, 1793) .50 10 livres (Oct. 24, 1792) .50 250 francs (Sept. 28, 1793) large size 3.00 1000 francs (Jan. 7, 1795) large size, red print 6.00 ALFREDO P. MARCON Via dei Coronari 112 ROMA - 2, Italy PAGE 56 Paper Money WHOLE NO. 18 1205 C. Morris 1357 H. Russell Bintzer 14 Joseph G. Renis 1052 L. Sherwood Blasdel 303 Joseph K. Massaro 775 Dr. Rubin H. Flocks 1394 Hugh J. McCloskey 1102 Paul W. Hechman 781 Tom J. Carson 1305 Richard J. Larson 1017 Mrs. Thomas Daley 991 Olga Hytha 1C07 James J. Harley 1280 A. B. Cardwell 1554 Frank Devenish Deceased 47 Fred R. Marckhoff 1372 James R. Thompson 635 Major Walter F. Rogers USMC 914 Neil V. Certain 37 Claude W. Rankin, Sr. 1131 V. J. Ashbaugh 879 P. S. Bomberger 1068 Mrs. Gill Brehm 99 Howard F. Street 384 Albert Philip Cohen Crisp Uncirculated Silver Certificates $1.00 1928 $12.00 1.00 1928A 7.00 5.00 1934 15.00 Legal Tender Notes $2.00 1928 $30.00 5.00 1928A 45.00 5.00 1928B 20.00 National Bank Notes $10.00 1929 (Mass. T2( $20.00 Sent prepaid. Consecutive numbers available. I collect, buy, sell and trade obsolete notes issued prior to 1865. G. W. WAIT (ANA #24546; SPMC #51 Box 165 GLEN RIDGE, N. J. PAPER MONEY • PONTIFICAL STATE - ITALY and FOREIGN Please write to. ALFREDO P. MARCON Via dei Coronari 112 ROMA - 2, Italy r" PAPER MONEY OBSOLETE NOTES-Singles and uncut sheets, over 200 differ- ent uncut sheets in stock." Price list available. CONFEDERATE CURRENCY-price list by type number avail- able. FRACTIONAL AND CONTINENTAL NOTES UNITED STATES-LARGE AND SMALL CURRENCY FOREIGN NOTES-MILITARY CURRENCY We don't have everything but we have helped out many a collector and we are constantly buying any kind of paper money whenever offered at a reasonable price. We do have some price lists available free. Ask for them. BUT we wouId appreciate your want list by variety, city,state or country or catalog number if listed so wecan serve you better. We will then quote or send notes on approval. We keep you on file. we also do some business in land grants, documents, stock certificates, early checks, medals, politicals,P. S. stamped envelopes, Lincolnia, maps, early newspap-ers, Civil War historical material. Correspondence invited. AMERICANA GALLERY H. F. JENNE P. 0. BOX 4634, FORT LAUDERDALE, FLORIDA Phones Office 565-7354 Res. 52 2-3630 area code #305 WE BUY SELL AND TRADE OFFICE HOURS BY APPOINTMENT WANTED FOR MY OWN COLLECTION WOULD LIKE THEM NEW, CRISP DONLON FR. 5th 201-3 1602 $1. 1928-B STAR NOTE 201-8 1607 $1. 1935 STAR NOTE 205-1 1650 $5. 1934 STAR NOTE 205-8 1657 $5. 1953-B STAR NOTE 210-2 1701 $10. 1934 STAR NOTE 210-9 1708 $10. 1953-B STAR NOTE 101-1 1500 $1. 1928 L.T. STAR NOTE Please write if you should have any need and give price. of the notes Thanks For Reading My Want List. WILLIAM F. REULBACH 11809 Jesse Avenue Cleveland, Ohio 44105 CRISP CURRENCY All Notes Are Uncirculated 201-8 201-12W & N 201-18 Star note 201-9 Star rote 102-4 102-5 muled reverse 102-10 105-3 105-4 105-6 105-8 105-9 105-11 205-1 205-4 210-2 210-9 HSO5-2 A205-2 505-3A 510-6G 410B 305-1 Pittsburg, Pa. $9.00, $11.25 Pair 7.00 4.25 6.50 15.00 15.00 4.25 21.00 18.00 18.G0 14.09 Star note 10.00 7.50 20.00 1 7.00 29.50 20.00 26.00 21.00 18.00 17.50 25.00 18.75 Complete List for Stamped Envelope. PIEDMONT COIN COMPANY 2324 Westover Terrace Burlington, N. C. 27215 Get an absolutely FREE COPY of world-famous, color- ful COINS MAGAZINE. Full of the lore, romance and inside information on coin collecting. LIMITED TIME OFFER Coins Magazine 231 Water Street Iola, Wisconsin 54945 Please send me my FREE COPY of Coins Magazine Name Address City State Zip Rhode Island Obsolete Notes 2.00 City Bank. Dec. 4, 1837. X.F. $10.00 2.00 Merchants Bank, Newport. X.F. 13.00 5.00 Merchants' Bank in Providence. 1828. A.U 16.00 5.00 Hamilton Bank, Scituate. 1856. X.F. Stamped (Broken Bank) 12.00 50.00 New England Commercial Bank, Newport Undated, unsigned. Unc. 9.75 100.00 New England Commercial Bank, Newport Undated, unsigned. Unc. 10.50 1.00 Warwick Bank. Sept. 5, 1857. Fine 3.50 5.00 Bank of New-England, East Haddam. Undated, unsigned. Unc. 3.00 5.00 Washington County Bank, Carolina Mills. 1863 X.F. 10.00 10.00 Burrillville Bank. Stereotype. 1831. X.F. 8.75 5.00 Burrillville Bank. Stereotype. 1831. X.F. 8.50 1.00 Bank of Republic, Providence. 1855. V.F. 4.00 10.00 Bank of Republic, Providence. 1855. V.F. 4.50 1.00 Mount Vernon Bank, Providence. 1858. Unc 22.50 1.00 Farmers Exchange Bank, Gloucester. 1808 Unc. 25.00 5.00 Farmers Exch. Bank, Gloucester. 1808. Stereo- type. A.U. 15.00 10.00 Farmers Exch. Bank, Gloucester. 1806. A.U 17.50 1.00 Mercantile Bank, Providence. 1854. Fine 6.00 2.00 Pocasset Bank, Fall River. 1859. V.F. 6.00 Obsolete and colonial notes wanted. Many o'her notes in stock in both series. RICHARD T. HOOBER P. 0. Box 196, Newfoundland, Penna. 18445 PAPER MONEY U. S. LARGE SIZE CURRENCY U. S. SMALL SIZE CURRENCY U. S. FRACTIONAL CURRENCY LIST AVAILABLE STAMP PLEASE THEODORE KEMM 915 West End Avenue New York, N. Y. 10025 OBSOLETE BILLS & MISC. $ 1.00 Stonington Bank. Conn. A.U. $ 5.75 5.00 Stonington Bank. Conn. A.U. 4.00 10.00 Stonington Bank. Conn. A.U. 4.75 .10 Charter Oak Bank. Hartford. A.U. 5.50 100.00 Thames Bank. Norwich. Fine. Altered 17.50 3.00 Saybrook Bank. Essex, Conn. PROOF NOTE P.O.R. First Nat. Bank. Killingly, Conn. Check. V.F 187- 1.00 Bank of New England. Conn. A.U. 2.00 Bank of New England. Conn. A.U. 5.00 Bank of New England. Conn. A.U. 1.00 City Bank of New Haven. A.U. 2.00 City Bank of New Haven. A.U. 3.00 City Bank of New Haven. A.U. 20.00 City Bank of New Haven. A.U. 50.00 City Bank of New Haven. A.U. 100.00 City Bank of New Haven. A.U. .50 Bullion Bank. Washington, D. C. Unc. Note 24.50 10.00 Congeessional Bank. Washington. A.U. 12.75 .10 Sumter County, Georgia. 1869. Sample Note 27.50 1.00 Bank of Augusta. Ga. A.U. 4.00 4.00 Bank of Augusta. Ga. A.U. 8.75 5.00 Bank of Augusta. Ga. A.U. 3.50 20.00 Bank of Augusta. Ga. A.U. 6.75 5.00 Bank of Darien. Darien, Ga. PROOF NOTE P.O.R. 2.00 Bank of Columbus. Columbus, Ga. PROOF NOTE P.O.R. 1.00 Virginia Treasury Note. Fine 1.50 Pan-American Exp. Medal. Brass. 33 MM. Unc. 1901 14.75 Crystal Palace Medal, dated 1854. 63 MM. white metal Proof 29.50 Henry Hud--)n dated 1909 in Alumn. size of Gold Dol A.U. 8.75 Frank F. Sprinkle P. 0. BOX 864 BLUEFIELD, W. VA. 24701 WILL BUY National Bank Currency Large or Small SIGHT UNSEEN for $3.00 OVER FACE No duplicate cities will be accepted from you or if I already have the city. Write DENO EVANGELISTA 3001 Arden Way Sacramento, Cal. 95825 2.50 2.25 3.75 4.00 4.50 5.25 8.50 8.75 12.50 16.75 Sample U147031313 A THIS LOSITICS*SESASTSSOCIT SWIMS Dem, AHD IMITATE ).*=. U 37031313 A • 4113,21010AVIMUllEalailt •suxszroatemarrottra skr,macos ora.saa BROKEN BANK • HERE'S TOM SETTLE SPECIALIZING IN and other obsolete U. S. Currency available I have a large stock on hand at all times and will be happy to add your name to my mailing list. • WHETHER BUYING OR SELLING Please Contact WARREN HENDERSON Obsolete Currency Specialist P. 0. BOX 1358, VENICE, FLA. 33595 U® S® CLIRRIFACY 1861 TO DATE Probably have Largest Stock Paper Money available on East Coast United States today. Lists available and complete for a Ten Cent Stamp. Member S. P. M. C., A. N. A., R. C. D. A. and many others. Will buy or sell. Price your notes. I price mine. For List send to THOMAS J. SETTLE Box 1173 Church St. Sta. New York, N. Y. 10008 WANTED • Obsolete Bank Notes, Scrip, Store Cards, and Tokens From NEW JERSEY Buy or Trade • J. M. DUPONT 77 Myersville Rd. Chatham, N. J. MAJOR ERROR NOTE MISMATCHED SERIAL NUMBERS CONDITION IS STRICTLY CRISP UNCIRCULATED. Money-order $39.50 each. Can furnish consecutive numbers. Will trade for 36 uncirculated $1 bills any district or 3 1964 Proof Sets or 3 rolls unc. 1964 Kennedy Halves. $1 1963 FRN Boston, Atlanta stars, Cleveland, Minn plain and $1 1963 A FRN Philly, Cleveland, Richmond plain beginning 0000 exchanged for other districts or will sell for $6 each. $10 1963 FRN Richmond District beginning 0000 $15.00 each. Matched pairs, trios and even four $1 FRN with identical num- bers listed for sale or exchange in my free price-list of unc. small sized notes sent for self-addressed stamped envelope. Odd or low numbered bills wanted. Richmond District FRN exchanged for others. Write First. JAMES W. SEVILLE BOX 866, STATESVILLE, N. C. Member Society Paper Money Collectors #630. Blue Ridge Numismatic Assn. Inc. #1384. American Numismatic Association R-53295 Reference—Northwestern Bank, Statesville Phone—Area Code 704 873-7462 Fractional Specimens WIDE MARGIN 1st Issue 5c S-201 obv. S-201-202 obv., rev. 10c S-203-204 pair 25c S-205-206 pair S-206 rev. only SET S-201 thru 208 (8) 2nd Issue 40.00 75.00 75.00 110.00 37.50 395.00 5c S-209 obv. only 35.00 S-209-210 pair 60.00 10c S-211 obv only 42.50 S-211-212 pair 75.00 50c S-215-216 pair 95.00 S-216 rev. only 37.50 3rd Issue 3c S-217, 219 pair 65.00 S-219 rev. only 29.00 5c S-221, 22, 23 trio 100.00 S-221 red rev. only 35.00 S-222 grn. rev. only 30.00 10c S-226-227 pair 65.00 S-223, 25, 27 (3 pcs.) 120.00 S-223, 25, 26, 27 (4) 150.00 WANTED 25c S-235, 36, 37 (3) 100.00 S-237 grn. rev. only 27.50 50c S-243-247 pair 100.00 S-238-240 pair 110.00 S-243, 45, 47 (3) 130.00 S-241 obv. only 65.00 S-243 obv. only 57.50 S-246 obv. only 65.00 NARROW MARGIN 1st Issue 25c obv. only 20.00 2nd Issue 50c obv. only (dark) 15.00 50c pair very choice 77.50 3rd Issue 5c red rev. only 20.00 grn. rev. only 15.00 3 pc. set 67.50 10c obv. and grn. rev. 32.50 obv. and red rev. 42.50 25c red rev. impaired 7.50 50c Colby Spinner auto., red rev. 57.50 Spinner, pair 45.00 Justice, pair 45.00 15c WANTED EXPERIMENTAL NOTES 2nd Issue 25c punch cancelled, no bronze surcharge, stamped "specimen" across front 35.00 As above, with bronze oval about Wash- ington, rev. blank except for S-18-63 on corners, large 25 at center 40.00 (The above are described on page 65 of Mr. Rothert's book) A choice pair of these 70.00 SHEETS 56c Fractional 2nd Issue 5c choice 300.00 10c choice 300.00 Confederate 50c (12) 1864 reconstructed 27.50 $20 (4) 1864 reconstructed 32.50 Broken Bank Virginia, Bank of the Valley, 1, 1, 1, 2 19.00 Michigan, State Bank of, 1, 2, 3, 5 24.50 New Hampshire, Farmington 1, 2 9.50 Michigan, Bank of, 1, 3 11.00 So. Carolina, State of, 1, 1 2, 2 12.50 Kentucky, Frankfurt Bank, 5, 5, 5, 10 17.50 1, 1, 3, 3 21.50 Ohio, Cuyahoga Falls (36) 5c 40.00 — 30-10c, 6-50c 45.00 — 32-25c 52.50 Georgia, Bank of Augusta 1, 1, 1, 2 15.00 — 5, 5, 5, 5 13.50 — fractional notes printed on rev. as a sheet of $4 notes 27.50 New Orleans, Canal Bank 5, 5, 5, 5 18.00 Florida, strip of 3-10c 18.50 — strip of 3-25c 18.50 Hungarian Relief 3 different sheets 14.00 ALL ITEMS FULLY GUARANTEED . PENNSYLVANIA RESIDENTS ADD 5% WANTED ANYTHING IN THE FRACTIONAL SERIES THOMAS E. WERNER 505 NO. WALNUT STREET WEST CHESTER, PA. ANA ANS SPMC MANA U. S. CURRENCY • PAPER CURRENCY COLLECTING IS INCREASING AND THE SUPPLY IS DECREASING Here is the chance to pick up some items that are not common anymore. Friedberg's numbers are used and all notes returnable if not satisfactory. Fr. 36 $1.00 1917 Legal Tender VF $ 6.50 37 1.00 Same VF 6.50 38 1.00 Same VF 6.50 39 1.00 Same VF 6.50 Above Notes Unc. $15.00 ea. 40 $1.00 1923 Legal ; only V.G. Scarce $ 7.00 88 5.00 1907 Legal Tender VF 14.00 89 5.00 Same VF 20.00 90 5.00 Same VF 14.00 91 5.00 Same VF 12.50 234 1.00 1899 Silver Cert. VF 6.00 235 1.00 Same VF 6.00 236 1.00 Same VF 6.00 1899 $1.00 Silver Cert. Unc. $12.50 237 1.00 1923 Silver Cert. VF $5.50 Unc. $12.25 238 1.00 Same VF $7.00 Unc. $17.50 Three Different Large $1.00 Notes; Avg. Circ. for $12.50 Five Dollar Notes, 1914 Federals; Avg. Circ. for $ 7.50 ea. Ten Dollar Notes, 1914 Federals; Avg. Circ. for $12.50 ea. • KNOWLEDGE '71 RESPONSIBILITY ck pROFESSIONk NUMISMATISTS BU ILD INC golur 91. Row, 111 NUMISMATIST LIFE MEMBER A.N.A. 402 P.N.G. 65 P. 0. BOX 2381 • DALLAS 21, TEXAS SINCEREST THANKS AND APPRECIATION TO THE FOLLOWING ORGANIZATIONS, WHO BELIEVED MY SMALL CONTRIBUTION TO THE CURRENT INTER- EST IN PAPER MONEY DESERVING OF RECOGNI- TION, IN THE FORM OF BEAUTIFUL PLAQUES, AWARDED AS FOLLOWS: OW LEDGE ESPONSIBILIT, pROfESSIONk NUM I SMATISts BU ILD-IN , UNITED STATES CURRENCY Exclusively and Full Time! S.P.M.C. No. 74 A.N.A. No. 4295 Life Member No. 101 P. 0. BOX 144 UTICA, NEW YORK, 13503 Phone 315-735-2525. THE SOCIETY OF PAPER MONEY COLLECTORS "For Outstanding Contribution to Paper Money Collectors" presented by President Thomas C. Bain at the Annual Meeting, Houston, Texas, August 1965. THE LEWIS M. REGAN MEMORIAL FOUNDATION ANNUAL ROBERT FRIEDBERG AWARD "For Numismatic Contribution in Paper Money" presented by President A. Kosoff at the Annual Meeting of THE PROFESSIONAL NUMISMATISTS GUILD Houston, Texas, August 1965. NUMISMATIC NEWS NATHAN GOLD MEMORIAL AWARD "For the Advancement of Paper Money Collecting" presented by Publisher Chester L. Krause at the annual meeting of The Central States Numismatic Society Indianapolis, Ind., April 1966. To have been considered deserving of a Special Award by The Society of Paper Money Collect. ors is a great honor. The Robert Friedberg Award presented by The Lewis M. Regan Foun- dation, and the Nathan Gold Memorial Award presented by Numismatic News will be lasting me- mentoes of two men whom I admired for their knowledge of paper money, and for the profit- able hours spent in their company. Again I express my sincere and humble thanks, and deep appreciation for these honors. deserved or otherwise. WILLIAM P. DONLON THE TREND IS DEFINITELY TO PAPER MONEY Perhaps I can help you with your collection. A return stamped addressed envelope speeds replies.