t4111114111010111 as iLIKILALTRIMPII
PlifOrINIHISMOIr SgICTION 211011116.
DEVOTED TO THE STUDY OF CURRENCY
The "Buffalo" or Lewis & Clark legal tender note. See page 69.
VOL. 5 1966
Whole No. 19
Cocieqo Paper igetteis Collector,
0 1966 by The Society of Paper Money Collectors
4514 North 30th Street Phone 402-451-4766 Omaha, Nebraska 68111
BEAUTIFUL UNCUT SHEETS
Subjects of 12 Uncirculated Notes. All were issued in Very Limited Numbers.
Will put Your Collection in the "Blue Ribbon Class"
Tate-Mellon. Rare Item
Another, with hardly noticeable crease on two notes
Julian & Woodin. Just as Rare in uncut sheet
201-8 $1.00 1935 Julian & Morgenthau. Lists $450.00, worth it 395.00
201-9 $1.00 1935-A Equally as scarce 395.00
201-10 $1.00 1935-B Julian-Vinson. Very limited issue. Lists $550.00 495.00
201-11 $1.00 1935-C Julian-Snyder. Lists $400. Special 375.00
201-12 $1.00 1935-D Clarke-Snyder. Just as scarce 365.00
201-1 $5.00 1934 Julian-Morgenthau. Worth List ($1,250.00) 1,150.00
205-3 $5.00 1934-B Julian-Vinson. Rare. Lists $900.00 865.00
205-4 $5.00 1934-C Julian-Snyder. Worth List ($550.00) 495.00
205-5 $5.00 1934-11 Clarke-Snyder. Equally as Rare 475.00
Urgently Wanted-$1.00 201-2-3, 7 $5.00 205-2, all $10 .00 , Sheets of 18.
101-1 $1.00 1928
Woods-Mellon. A Great Rarity, less than seven sheets known.
(Some Authorities say even less.) Please write for price.
$2.00 1928-0 Julian-Morgenthau. Very Rare Item 495.00
102-6 $2.00 1928-E Julian-Vinson. Equally as Rare 550.00
102-7 $2.00 1928-F Julian-Snyder. Also Very Rare 425.00
102-8 $2.00 1928-G Clarke-Snyder. Just as Rare as last
105-5 $5.00 1928-1) Julian-Vinson. Very Rare
105-6 $5.00 1928-E Julian-Snyder 495.00
RARE R & S SPECIAL
$1.00 R 201, S 201. Superb Pair
115.00 $1.00 1957B 1737/U47. Gem '39 50
We will trade Red "S" for "It" Notes.
Plastic Holder, with Title 4.75
$1.00 GRA NA HA N-FOWLER NOTES
ALL RARE CURRENCY WANTED
Double Denomination and Unusual Errors. Territorial Notes from Arizona, Idaho, Nebraska, Oklahoma, Washington, Wyoming, Hawaii, others. Rare
Small Notes 201-4, 5, 6, A210-1, H520, 102-3, 3, 105-2, 210-1, 4. Also "Star" Notes 201-1 to 201-8, H201, A201, R201, S201 and 101-1, all
Crisp Unc. UNCUT Sheets 102-1, 2, 3, 5, 105-1, 2, 3, 4, 7. Also all Sheets of 18, Large Size Nat'l. Bank Notes, others. Please describe and price.
* BEECOIN CURRENCY HOLDERS
Finest Quality 1 Pure Crustal-clear Acetate. The Rest seller tor 25 years.
Don't Gamble-Use BeeCoin (copyrighted *)
68 774x3 7/16
Large Size Currency
1.75 3.00 5.75 10.00
78 6 % x2 7/(3
Present Size Currency
1.65 2.90 5.25 9.25
* 80 51x2% Large Fractional
1.35 2.35 4.25 7.75
98 3 ,A . x 2% Small Fractional 1.10 1.90 3.25 5.75
Colonial Currency 1.65 2.90 4.25 7.75
* Combine 80 and 108 for Quantity price.
FLIP UP ALBUMS
New improved Display Albums. Capacity 50 Notes (100 if 2 in each envelope)
For Large Size Currency. Size 10 % x10
For Present Size Currency. Size 10 % x8
DEALERS: Write on Letterhead for our FREE Wholesale Catalogue.
FREE NUMISMATIC BIBLIOGRAPHY
* Free with $75.00 Book Order, the following great work (Offer expires Ot. $ let
* "Select Numismatic Bibliography" (Mrs. Elvira Clain-Stefanelli).
A Cross-Index of almost 5,000 Numismatic Books. A MUST in $1e2ve57
Write for List of over "400 Best Sellers"-can be found only at Bebee's.
It's True-you can do better at Bebee's. That is, if its Quality Notes you want. If you have not tried us for Quality, then there's a Surprise in store
Send $1.00 (Free with $25.00 Order) for our two Great Catalogues:
1. 84-Page Catalogue of Coins & Currency. 2. 108-Page Supply Catalogue
Everything in Numis-Accessories plus over 400 Books.
MINIMUM ORDER $5.00. Please add 50c if under $10.00
$1.00 GRANAHAN-DILLON NOTES Superb Set (12) 1963-A 14.95
Superb Set (12) 1963
Same, last 2 Nos. ,match 15.95
Same, last 2 Nos. match
15.95 STAR NOTE SETS
STAIR NOTE SETS
Superb Set, $1.00 G & F "Stars" 19.00
Superb Set, $1 G & D "Stars"
19.50 $2.00 G & F LEGAL
Same, last two Nos. match
24.50 1961A In Acetate holder 2.85
VOL. 5 NO. 3
WHOLE NO. 19
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
Application to mail at Second Class Postage Rates is pending at Federalsburg, Md.
Subscription, $4.00 a year. Published quarterly.
One Time Yearly
Outside Rear Cover
Inside Front &. Rear Cover 35.00 130.00
Full Page 30.00 110.00
Half Page 17.50 60.00
Quarter Page 10.00 35.00
Issue No. 20
Issue No. 21
Issue No. 22
Issue No. 23
Schedule for 1966-67
Nov. 15, 1966 Dec. 15, 1966
Feb. 15, 1967 Mar. 15, 1967
May 15, 1967 June 15, 1967
Aug. 15, 1967 Sept. 15, 1967
Rotary Press Currency, by Nathan Goldstein II 63
New Donlon Catalog 65
Additions to Toy's Catalog 65
Nineteenth Century American Bank Note Engravers, by Everett K. Cooper 66
Low Denomination Confederate Fractionals (?), by George W. Wait 68
The Buffalo or Lewis and Clark Legal Tender, by Cliff Murk 69
The Paper Money Issued at Khabarovsk, Russia in 1918, (concluded), by M. Byckoff 70
Foreign Paper Money News 72
Federal Reserve Notes, 1914 Series, by Thomas C. Bain 73
Data on Jamaican Currency Needed, by Jerome H. Remick 74
Bank Charters and Politics-1833, by Sen. Warren S. Henderson 75
Why Not Collect Business College Currency, by Maurice M. Burgett 77
Paper Money in the Pontifical State, by Alfredo P. Marcon 78
Auction Prices Realized 81
A Proposal, by Henry D. Blumberg 83
New Canadian Commemorative Note 83
It's in the Books, by Earl Hughes 83
The Society of Paper Money Collectors, Inc.
The Trading Post 87
Cacietv ei Paper litottev CcIlector44
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.
Librarian Earl Hughes
Attorney Ellis Edlow
BOARD OF GOVERNORS — 1965-66
Thomas C. Bain, Dr. Julian Blanchard, William P. Donlon, Ben Douglas, Nathan Gold-
stein II, George D. Hatie, Morris Loewenstern, Fred R. Marckhoff, J. Roy Pennell, Jr,
Glenn B. Smedley, George W. Wait, Melvin 0. Warns
E..- EE E
= =Important NoticeE E
= EPaper Money Is A Copyrighted Publication .-
= No article originally appearing in this publication, or part thereof or condensa- E=
• tion of same. can be reprinted elsewhere without the express permission of the Editor. =
= Although your Officers recognize the publicity value to the Society of occasional re- =
• prints, they cannot allow indiscriminate use of the material from PAPER MONEY in a
other publications even when condoned by the author. Therefore, authors should E.E
E contact the Editor for permission to reprint their work elsewhere and to make ar- a
• rangements for copyrighting their work in their own names, if desired. Only in this E
a way can we maintain the integrity of PAPER MONEY and our contributors. == =
WHOLE NO. 19
Paper Money PAGE 63
Rotary Press Currency
By Nathan Goldstein II
The Bureau of Engraving and Printing has been the
sole producer of paper money for the Treasury Depart-
ment for over one hundred years. The method of printing
has been on flat presses, which have been refined and
improved greatly over that period.
In the year 1957, however, the first dramatic break-
through took place. High-speed rotary intaglio presses
were put into use, and for the very first time our paper
money was printed by a "dry" method from curved
intaglio plates. How did this revolutionary change
take place, and why?
The present Director of the Bureau of Engraving and
Printing, Henry J. Holtzclaw, has given almost fifty
years of devoted service to the government. Much
modernization and many changes in method and pro-
cedure for the manufacture of both paper money and
postage stamps has taken place under his supervision.
In 1950 a period of modernization started, and it is
still in the process of being carried out.
Figure 1 shows one of the early types of rotary
presses. This press prints on a sheet of special currency
paper, precut in size to take the impression of a rotary
plate of 32 subjects. We are looking at the delivery end
of the press, and the stack of already printed sheets is
shown at the left. The pressman on the platform is
viewing a sheet of paper which is just entering the
press and will be pressed against the printing plate to
receive the impression. It then will travel thru the press
to the delivery end. The rolls of paper seen at the end
of press are wiping paper, which remove the excess
ink from the printing plate prior to impression. The
paper is specially prepared and contains a small percent-
age of moisture.
The first notes to be printed on this type of equip-
ment were the $1 Silver Certificates, Series 1957. Both
face and reverse plates for this series started at 1, and
continued for the balance of the series. When the $1
Federal Reserve Notes were introduced, they were like-
wise printed on rotary presses. The face plates for the
different face design were commenced with 1, while the
reverse plates were identical with the Silver Certificates
and the numbers continued in the same plate number
runs. These plate numbers will be taken up further in
a later article.
The early single-plate rotary presses were refined, so
that many small but significant changes were made when
the new presses were ordered. Four presses were used,
in complement, two for printing the face of the notes, and
the other two for the reverse. These presses were manu-
factured by the Miehle Company, a division of the
Miehle-Goss-Dexter Corporation of Chicago. Figure 2
New HiGh Speed Rotary Intaglio Currency
Paper Money WHOLE NO. 19
WHOLE NO. 19
Paper Money PAGE 65
shows two of these new presses in one of the currency
sections. The presses are much the same as the early
type, and the mechanics of printing are the same.
Several years ago the Bureau ordered a new type of
rotary press which had been in use for postage stamp
printing for about eight years. This press is manufac-
tured in West Germany from patents of the Koebau-
Giori Organization. This giant press is capable of using
four 32-subject plates. The press has a capacity of about
six thousand sheets (32 notes each) per hour and is op-
erated three shifts daily.
Figure 3 shows this Giori press, but due to its size,
it was not possible to ge a complete view. It is difficult
to realize the size of this press until you actually see it.
This view is of the delivery end of the press, and the
completed sheets are stacked in the two sheet-holding
bays. At the far left of the picture is the point from
which the sheets start through the press. The four print-
ing plates are mounted on a very large cylinder which
revolves at a surprisingly rapid rate. Each complete
revolution of this cylinder signals the completion of four
sheets of notes.
When the rotary notes were first introduced, there was
quite a cry that the notes were inferior and could be
easily counterfeited. This proved to be untrue, and the
rotary product is fully comparable to the old flat. It has
been found that these presses have proved to be so excel-
lent that continually increasing demand has been met
with little difficulty.
1965 production was 2,053,104,000 notes, which was
a 19% increase over 1964. It is estimated that 1966
will require a 32% increase over 1964, for a total of
2,278,272,000 notes. The cost of production of a thou-
sand notes in 1952 was $9.95. In 1965 the cost had
decreased to $9.42 per thousand, and it is estimated that
1966 will see a further reduction to $9.21. The real
breakthrough in cost will take place in 1967 with a re-
duction to $8.41 per thousand, mainly due to the entire
production having been shifted to the rotary presses.
(To Be Continued)
(Note: Mr. Goldstein has available a supply of maps of
the Federal Reserve System. They are available to
SPMC members for ten cents postage or coin. Please
use your Society number when requesting one from Mr.
Goldstein at P. 0. Box 36, Greenville, Miss.).
New Donlon Catalog
Donlon Catalog of United States Small Size Paper
Money, by William P. Donlon, 2nd edition, 1966.
This magazine has a sort of parental interest in Mr.
Donlon's catalog ventures. On its pages his then-radi-
cally new catalog system was first presented to the hobby
(Vol. 3, No. 1). Since that time, the system has met
with fantastic success, proof of its practicability.
The latest edition, printed in the size and style of
Numismatic Scrapbook Magazine, contains 128 lavishly
illustrated pages that read more like a book than a dry
catalog. The listing of every group of paper money is
preceded by a page or more of historical notes. Numbers
of notes issued are accompanied by valuations in two
or more grades. One of the most useful sections con-
tains official tables of deliveries of notes from January,
1929, through June 25, 1965. Also useful are the intro-
ductory pages on the production of paper money and
methods of collecting.
New in this edition is a section on errors and misprints
by James Grebinger. Forty-four representative varieties
are illustrated and priced. But the unique feature of
the catalog is Mr. Donlon's flexible code system for num-
bering paper money. Without exaggeration it can be
stated that this system, available in a dollar catalog, has
done more to stimulate collecting of small size paper
money than any other development in the hobby.
Additions to Toy's Catalog
One of the penalties of pioneering in a new field is
the certainty that as soon as you venture into print with
a definitive listing someone is sure to come forward with
new information. Such has been the case with Raymond
S. Toy's second edition of World War II Allied Military
Currency, reviewed in Vol. 4, No. 3 of PAPER MONEY.
Mr. Toy reports the following new information:
1. Dr. Arnold Keller of Germany has reported seeing
and has no doubt of their genuineness of some Russian
Allied Military notes with nine digits in the serial number
and listed them in his catalog supplement with these
values: 20 mark (Toy's 86D) used—$5, uncirculated—
$7.50; 50 mark (Toy's 87D) used—$6, uncirculated—
$8; 100 mark (Toy's 88D) used—$8, uncirculated—$10.
2. Toy No. 144, the 100 Kroner note issued by the
Allied Command for use in Denmark, was not known
to exist. However, Carl Siemsen of Denmark reports
that a "specimen" piece is located in Denmark, but the
owner's name is unknown.
3. B. M. Hayward of Vermont has discovered an in-
teresting variety of Toy No. 395, the five franc note from
Algeria of the liberation issue. The note is similar to
Toy No. 395 but has a black overprint along the right
side reading "TUNISIE" and is dated on the obverse
Paper Money WHOLE NO. 19PAGE 66
Nineteenth Century American Bank Note
By Everett K. Cooper
The outstanding bank note engraver of the pre-Jack-
sonian era was Peter Maverick, who was born in New
York City on October 22, 1780, and died on June 7,
1831. Engraving was in the family blood stream. His
father (Peter Rushton Maverick) was a prominent en-
graver as well as his two brothers, Samuel and Andrew,
and his son, Peter, Jr. His fame is also enhanced by the
pupils who served their apprenticeship with him, Asher
B. Durand and John W. Casilear.
Asher B. Durand came to Maverick in the fall of 1812
to become an apprentice, after Durand found that the
price required by the famous New York engraver W. S.
Leney was prohibitive. This apprenticeship-teacher re-
lation lasted until the fall of 1817, and their partnership
probably followed immediately. It appears to have had
two phases. The first is characterized by the signature
MAVERICK AND DURAND, denoting the simple
partnership of these two outstanding engravers. Some-
time in 1818 the firm signature became MAVERICK,
DURAND AND COMPANY, with the "and Company"
apparently including pressman and inventor Cyrus
Durand who had devised a geometrical lathe for improv-
ing the anti-counterfeit quality of bank notes. This
partnership was rather loose, and it terminated in March
1820. Their final separation was primarily attributed to
a commission Asher Durand accepted, to the exclusion
of his partner Maverick, to engrave Trumbull's "Signing
of the Declaration."
The signatures used by Peter Maverick and his various
partners on his bank notes range from the few partner-
ships that he shared to the minor varieties of his own
name are listed below.
P. Maverick sc
P. Maverick s.
Peter Maverick N. York
Peter Maverick sc. N. Y.
P. Maverick N. York
P. Maverick sc. Broadway, N. Y.
P. Maverick Newark
P. Maverick s. Newark, N. J.
Peter Maverick Engr. & Print.
Maverick & Leney
Maverick, Leney, & Rollinson
P. Maverick & Durand
P. Maverick, Durand & Co.
(The above listing is not necessarily chronological).
CHECK LIST OF BANK NOTES ENGRAVED BY PETER MAVERICK AND PARTNERS
BANK NATION ENGRAVER SIGNATURE
Bank of New Brunswick $100 P. Maverick Sc
GEORGIA Commercial Bank
Bank of Augusta $1 Peter Maverick sc. N. Y. (Perth Amboy) $1 Peter Maverick
Bank of Augusta $2 Peter Maverick N. York Commercial Bank $3 Peter Maverick
Bank of Augusta $3 Peter Maverick N. York Commercial Bank $5 Peter Maverick
MICHIGAN Commercial Bank $10 Peter Maverick, N. Y.
Bank of Monroe $1 Peter Maverick Commercial Bank $20 Peter Maverick, N. York
Bank of Monroe $2 Peter Maverick Farmer's Bank of New
Bank of Monroe
$3 Peter Maverick Jersey (Mount !lolly) $2 Maverick & Leney
MISSOURI Farmer's Bank of
Missouri Exchange Wangate $1 Maverick & Leney
Bank 12 rAc P. Maverick, Durand & Co. Jersey Bank (Jersey
Missouri Exchange City) $1 P. Maverick
Bank 25c P. Maverick, Durand & Co. Jersey Bank $2 P. Maverick & Durand
Missouri Exchange Jersey Bank $3 P. Maverick sc.
Bank 50c P. Maverick, Durand & Co. Jersey Bank $5 P. Maverick & Durand
St. Louis Land Office 12/2c P. Maverick, Durand & Co. Morris County Bank
St. Louis Land Office 25c P. Maverick, Durand & Co. (Morristown) Maverick & Leney
N. Y. Morris County Bank $1 Maverick, Leney &
St. Louis Land Office
50c P. Maverick, Durand & Co. Rollinson
St. Louis Land Office
75c P. Maverick, Durand & Co. Newark Banking &
NEW JERSEY Insurance Co. $1 P. Maverick s.
Bank of New Brunswick $2 Maverick, Leney & Newark Banking &
Rollinson Insurance Co. $2 P. Maverick
Bank of New Brunswick $3 P. Maverick N. York Newark Banking &
Bank of New Brunswick $5 P. Maverick s. Insurance Co. $5 unsigned
:".000 .A.1tir:the BANIZ
/4, 4/,/,/ Lijur;r;w;,0
. -././ • ., —
WHOLE NO. 19
Paper Money PACE 67
Newark Banking &
State Bank of Camden
State Bank of Elizabeth
State Bank at Morris-
State Bank at Newark
State Bank at Newark
State Bank at Newark
State Bank at Newark
State Bank at New
State Bank at New
State Bank at New
State Bank at Trenton
State Bank at Trenton
State Bank at Trenton
State Bank at Trenton
Bank of Hudson
Bank of Hudson
Bank of Hudson
Bank of Troy (Water-
$10 I'. Maverick sc
6c P. Maverick sc.
12/c P. Maverick SC.
50c P. Maverick sc.
$3 P. Maverick sc.
$5 P. Maverick s.
$3 Maverick, Leney &
$1 Maverick, Leney &
$3 P. Maverick, Newark
$1 Maverick & Leney
$1 P. Maverick
$3 P. Maverick Newark
$5 P. Maverick
$2 Maverick, Leney &
$5 Maverick, Leney &
$10 Maverick & Leney
$1 Maverick & Leney
$2 Maverick & Leney
$100 P. Maverick Newark
$5 P. Maverick & Durand
$1 P. Maverick s.
Printed by L. Lemet, Alby.
$2 P. Maverick s.
Printed by L. Lemet, Alby.
$5 P. Maverick s. Newark,
Printed by L. Lemet, Alby.
$5 Peter Maverick Engr. &
Middle District Bank
Middle District Bank
Steuben County Bank
NEW YORK CITY
City Bank Post
Rhode Island Union
Rhode Island Union
$100 P. Maverick sc.
P. Maverick sc.
$2 Peter Maverick
$2 Peter Maverick
$1 unsigned - but Maverick
P. Maverick s, Newark,
$50 P. Maverick sct
$2 P. Maverick sc
P. Maverick sc
P. Maverick s.
P. Maverick sc
P. Maverick, Durand & Co.
P. Maverick, Durand & Co.
P. Maverick, Durand & Co.
P. Maverick, Durand & Co.
$1 Peter Maverick
$50 Peter Maverick sc. Broad-
way, N. Y.
P. Maverick sc N. York
Peter Maverick, N. York
$1 P. Maverick sc.
$2 P. Maverick
$3 P. Maverick s
$10 P. Maverick sc.
Paper Money WHOLE NO. 19
Low Denomination Confederate Fractionals(?)
By George W. Wait
Reputed essays for the Confederate low denomina-
tion fractional currency which may be only essays
for the counters of dollar notes
The finances of the South during the Civil War re-
flected continuous creeping inflation. The very modest
Montgomery issue of notes in early 1861 was followed
by larger and larger series over the next few years,
climaxed by the February 17, 1864, notes which possibly
could have been measured by the ton. The available
goods did not keep pace with the money supply and a
price situation developed not unlike the early days of
the European financial debacle following the first World
The North also had its troubles. Due to suspension
of specie payments, the U. S. issued its first legal tender
notes. These depreciated so that in the foreign markets
of 1863, the U. S. silver half dollar was worth more
than the paper dollar! Hoarding of coins brought out
Civil War tokens, encased postage and fractional cur-
rency—private and government, the later issued in de-
nominations varying from three to fifty cents.
As time went on, the superior manpower and industrial
resources of the North made themselves felt in this great
struggle. Their outpouring of goods plus judicious con-
trol of the currency kept inflation within reasonable
bounds, and even a three or five cent bill retained some
Although their values took different trends with the
progress of the War, the paper money of the North and
South had similarities. In both sections, fractional cur-
rency was issued by merchants, banks, transportation
companies, sutlers and the governments. The Confeder-
ate Government's fractionals were limited to the fifty
cent issues of April 6, 1863, and of February 17, 1864.
Inflation likely made lower denominations impractical,
but herein is presented some evidence that they may
have been contemplated.
In a recent trade with a Virginia collector, I obtained
the illustrated essay notes. Whether they were designed
for the Confederacy depends on whether you believe these
pencilled notations on their backs:
25 note—"Design for a Confederate 25c piece.
Most likely the only in existence as their where but
two or three made, and that by myself, being a
printer in Confederate Government employ during
Richmond, V a. H. EYLERS
5th August 1863
5 - 10 note:
Richmond, V a., August 5th, 1863
"Design for Vignette on $5 and $10 notes. The
only in existence made by myself as proof for the
Pencilled notations on the doubtful origin of the
THIS NOME ILSCALL UMW
PDX TEN DOLIAMICAWILIIMIT ZIP
WHOLE NO. 1 9
Paper Money PAGE 69
man that engraved it on the sly it being strictly
prohibited to keep proofs."
Note that there is a discrepancy in the above in that
the notation refers to "design for $5 and $10 notes".
While it is possible, of course, that these were essays for
the counters of these notes, they are very different from
the counters of the $5 and $10 notes actually issued.
They seem to be more similar to the twenty-five cent
design and in my opinion (if the story is legitimate)
they were trial counters for proposed five and ten cent
notes. The engraver may not have told the complete
story to the printer, whose knowledge of paper money
may not have exceeded his spelling ability! The dates
shown in the printer's statements appear to be in his
handwriting but give the impression that they were added
as an afterthought—perhaps someone more knowledge-
able advised him that a tie-in with the 1863 series would
be logical and desirable.
The verification (or refutation) of Mr. Eyler's state-
ments may be found somewhere to the archives of the
Confederacy. In the meantime, we can be believers—
The Buffalo or Lewis and Clark Legal Tender
By Cliff Murk
The collector of paper money of the United States of
America has, over the years, labored under a handicap
that certain other countries of the world have alleviated
for their collectors. The United States government has
never issued an out-and-out commemorative piece of
paper money. Certain foreign issues of paper money
currency have been of a definite commemorative nature.
While the United States has not done this outright, we
do have some small number of issues that have definite
commemorative implications. Such a note is the
"Buffalo," or more correctly defined, "The Lewis And
Clark" series 1901 Legal Tender ten dollar note.
It was undoubtedly issued to generate interest in the
coming Lewis and Clark Centennial Exposition to be
held in Portland. Oregon, in the year 1905. It was also
designed to commemorate the historic trip of exploration
undertaken by Captain Meriwether Lewis and Lieutenant
William Clark, under orders from President Jefferson.
They jointly led an expedition westward to the shores
of the Pacific Ocean to explore and evaluate the newly
acquired Louisiana Purchase.
It was their epic trek, starting from St. Louis on May
15, 1804, and their report to the President that did much
to start the westward flow of settlers who finally held and
consolidated the purchase of these lands more than dou-
bling the area of the United States.
We can read of the trials and hardships that this ex-
pedition endured, their experiences and hopes, as they
kept accurate and extensive accounts of the entire trip.
These journals were preserved and have been published.
They are in print; Binfords and Mort, Portland, Oregon,
are the publishers.
This note carries on the obverse an American bison;
hence it has often been called the Buffalo note. Flanking
this central device we have to the left Captain Lewis and
to the right Lieutenant Clark. The seal, serial number
and denomination are in red. It is a colorful, pleasing
and most interesting note.
Paper Money WHOLE NO. 19
The Paper Money Issued at Khabarovsk,
Russia in 1918
By M. Byckoff
(CONTINUED FROM PAPER MONEY NO. 17, PAGE 21.)
There was no official regulation for the validation of
the "Krasnoshchekov" bills or notes of the Amur Prov-
ince (known as the "Mukhinki" of Blagoveshchensk) by
the Nikolaevsk-on-Amur branch of the State Bank. The
population of the city of Nikolaevsk and of the Amur
estuary either refused or very unwillingly accepted bills
originating in the Khabarovsk and Blagoveshchensk
areas. In view of the severe shortage of paper money
on the market in the Nikolaevsk-on-Amur area, the local
branch of the State Bank, in its quest for ways of alleviat-
ing the shortage of currency, began to apply the two
above-mentioned cachets on Khabarevsk and Blagovesh-
chensk bills, thus giving them a kind of "citizenship" in
its own territory. As a result, the local population
changed its attitude towards them and began accepting
them without any qualms at all, on a par with bills of
local issues which were circulating in this district.
On one occasion in 1930, when I was living in Shang-
hai, China, I acquired a bundle of Khabarovsk currency
bills and on sorting them, I noticed that while there
were many examples with the validation of November 30,
1918, another kind of cachet was also to be found, with
a different date and text in five lines, as follows: "Sep-
tember 1918/Khabarovsk Br./of the State Bank/
Authorized for/circulation" (See Fig. 1).
The F. Chuchin catalogue for 1927 (Catalogue of
Vouchers and Paper Money of Russia, RSFSR, USSR,
the Borderlands and Organizations 1769-1927, Moscow,
3rd Edition) lists the paper money of Far Eastern Coun-
cil of National Commissars under Nos. 10104-6, on page
101, without specifying the town of issue (Khabarovsk)
and then on the next page the following information
is given under the heading of "Zagolovkol:"
"Ditto, with cachet of br. of State Bank," without
indicating the name of the branch or branches of the
State Bank or the dates when the cachet or cachets were
applied. The face value of these bills are listed under
Nos. 10107-9; whether these bills had one or more
cachets applied on them by one, two or three branches
of the State Bank with the same or different texts and
length of validity are left to the collector himself to
judge. On the other hand, A. Pogrebetskii, in his work
"The circulation of currency and currency bills of the
Far East during the War and Revolution" (Kharbin,
1924) notes on pp. 180-1 that the bills of the Council of
National Commissars of the Far East were validated on
the basis of a regulation dated October 17, 1918, issued
by the Siberian Provisional Government, but he does not
quote the texts of validation.
As I did not find any information in the literature on
paper money at my disposal about the validation of the
"Krasnoshchekov" notes in September, 1918, I turned
to the magazine Soviet Collector (Moscow) to clear up
these points. Under what circumstances and by whose
arrangements was the validating cachet of September,
1918 placed on the "Krasnoshchekov" bills, when the
official regulation for the validation of these notes was
published a month later in October! Unfortunately, a
reply to this enquiry was not forthcoming. At that time,
the former Commissar of the All-Russian Provisional
Government for the city of Khabarovsk in the Governor-
Generalship of the Maritime Provinces, a Mr. A. N.
Rusanov, was living in Shanghai and I turned to him
for answers to these questions. In his time, he had been
active in the social and political activities of Khabarovsk
but had not interested himself greatly in financial affairs,
so at first he could not give any explanation at all. How-
ever, after a few talks with him, during which he re-
called the flow of all political events and struggles of
that period in the Far East in general and at Khabarovsk
in particular, he suggested the hypothesis set out here-
under, with which, after many discussions with other
persons in all walks of life who had lived in Khabarovsk
or the Far East in 1918, as well as the former witnesses
or even participants in the events that took place at that
time and in those places, I could not at first hand dis-
agree and thus reject his hypothesis:
The city of Khabarovsk was captured on September
6, 1918, by detachments of Ataman Kalmykov. The new
authorities could not keep "Bolshevik money" in circula-
tion either in the city or in the area cleared of the Bol-
sheviks and so the "Krasnoshchekov" bills ceased to cir-
culate as paper money by tacit consent of the population,
although there were no official rulings to that effect. In
the city, there appeared Romanov bills in the values of
1, 3, 5, 10 and 25 rubles; "Catherines"; "Dumas" in
the values of 250 and 1000 rubles; 20 and 40 ruble
"Kerenskies"; and also War Loan coupons which had
originally gone on issue at the beginning of 1917. Omsk
was apparently informed of all this by telegraph. On
September 23, 1918, the regulation from Omsk regard-
ing the release for circulation of Government securities
and bonds with coupons attached to serve as paper money
resulted in a breathing space for a short time, after which
the demand for the currency grew with renewed force.
Since the market was flooded exclusively with bills of
the Council of National Commissars of the Far East,
which were the only medium of exchange in the Kha-
barovsk district up till September 6, 1918, the situation
required exceptional measures for supplying the area
with cash without delay and in sufficient quantities.
For these and other reasons, such as the termination
of the fishing and navigation seasons, as explained above,
WHOLE NO. 19
Paper Money PAGE 71
the only logical and possible way out of the situation,
for which there was practically no solution, was, as far
as the authorities in Omsk were concerned, to put back
in circulation in this area currency bills which had been
in use there up till September 6, 1918, in quantities not
only sufficient for daily requirements but also for future
needs. It is apparent, therefore, that a ruling was also
given by telegraph to the Khabarovsk branch of the
State Bank to place the "Krasnoshchekov" bills of 10,
25 and 50 ruble values back in circulation in the capacity
of paper money, after applying thereon cachets with
specific dates and texts relating to their authorization for
circulation as paper money. It is quite feasible that the
actual text of the cachet was telegraphed from Omsk.
Thus, the appearance of the "Krasnoshchekov" bills with
a September, 1918 date may be justified.
amount of some millions of rubles into the financial
channels of the area in a very short time and made it
possible for the local businessmen to discharge their
financial obligations to the public in a normal way at a
very critical period when the fishing and navigation sea-
sons were closing.
The September issue would have served as a "trial
run," permitting the Siberian Provisional Government to
acquaint itself with the mechanics of such a procedure,
collect some information on the reaction of public, trade
and industrial circles to the appearance of such a step
and prepare the ground for carrying out similar measures
as announced in the regulation of October 17, 1918,
issued by the Provisional Government. This regulation
was, however, of noticeably larger scope, since it now
Figure 5. Obverse of 25 ruble note with rubber stamp "A."
There was no information whatsoever officially an-
nounced in Khabarovsk newspapers of that period, or
any explanation about the suggested measures or even
measures already taken to supply the public with a suffi-
cient quantity of paper money. Also, in view of the
passage of time, the installation of the new authorities,
replacement of civil servants in the state services and for
many other reasons, the correspondence relating to plac-
ing the "Krasnoshchekov" bills back in circulation after
applying the September cachet was apparently lost and
it was therefore not mentioned at that time in the litera-
ture on paper money.
Hence, we see that bills have survived with this Sep-
tember, 1918 cachet, showing that the local authorities,
with or without the permission of the Omsk Government
(we greatly doubt their proceeding without permission)
found it necessary to put back in circulation currency
bills which had already been withdrawn either through
the pressure of public opinion or not, either publicly
or without prior announcement, officially or by private
means. The application of September, 1918 cachet on
the "Krasnoshchekov" bills poured paper money in the
covered the territory of the Transbaikal, Amur and Mari-
time provinces. The results of this measure may be re-
garded as being completely successful; during the entire
period of the announced obligatory validation, "Kras-
noshchekov" bills in the amount of 10,666,885 rubles
were stamped, i.e. 93 percent of the original issue.
The application of the September, 1918 cachet did not
exempt the "Krasnoshchekov" bills from being restamped
upon the basis of the regulation of the Siberian Provi-
sional Government, dated October 17, 1918, and there-
fore all bills with the September cachet, apart from the
very rare exceptions, also bear the second validation
cachet reading "Presented 30 November 1918."
In conclusion, I am setting out for the record a listing
of currency bills issued by the Council of National Com-
missars of the Far East, together with all varieties of the
cachets found thereon:
I. February 1918. Khabarovsk. Original issue.
No. 1 10 rubles No. 2 25 rubles No. 3 50 rubles
II. Cachet "a." Khabarovsk br. State Bank. "Sep-
tember 1918, authorized for circulation."
Paper Money WHOLE NO. 19
No. 4 10 rubles No. 5 25 rubles
III. Cachet "b." Khabarovsk Br. State Bank. "Pre-
sented 30 November 1918."
No. 6 10 rubles No. 7 25 rubles No. 8 50 rubles
IV. Cachet "a" and cachet "b"
No. 9 10 rubles No. 10 25 rubles
V. Cachet "Bikinskoe Stanichnoe Pravlenie" and
No. 11 10 rubles No. 12 25 rubles No. 13 50
VI. Cachet "Imanskoe Kaznacheistvo" and cachet
No. 14 10 rubles No. 15 25 rubles No. 16 50
VII. Cachet "Kiinskaya Volostnaya Zemskaya Up-
rava" and cachet "b"
No. 17 10 rubles No. 18 25 rubles No. 19 50
VIII. Cachet "Nikolaevsk N/A O t d e l e n i e Gos.
Banka"; both cachets and cachet "b" (but
No. 20 10 rubles No. 21 25 rubles No. 22 50
We also encounter a note with stamp "b" Khabarovsk
Br. State Bank together with cachets of different local
administrative and executive offices of Maritime Prov-
inces listed below. These cachets are the same type as
the stamp of "Kiinskaya Volostnaya Zemskaya Uprava"
but it is impossible at this time to point out the denomi-
nations on which those cachets can be found because of
the lack of explicit information:
IX. Volispolkom village Blagoslovennoe. (Voli-
spolkom is the code name for: VOL—volost-
noyi (district), ISPOL ispolniteljnyi (ex-
ecutive), KOM komitet (committee)
X. Viazemskaya Volostnaya Zemskaya Uprava
XI. Pravlenie (administration) Glin o v s k o go
XII. Dormidontovskaya V o 1 o s tn ay a Zemskaya
XIII. Ekaterino-Nikoljskiyi Volostnoyi Komitet Obt-
schestvennoyi Bezopasnosti. (See below.)
XIV. Zenjkovskaya Volostnaya Zemskaya Uprava
XV. Ivanovskiyi Volostnoyi Komitet Obtschestven-
noyi Bezopasnosti (Ivanovskiyi District Com-
mittee of Community Safety)
XVI. Knyaze-Volkonskaya Volostnaya Z e m s k a y a
XVII. Kozmodemianovskaya Volostnaya Zemskaya
XVIII. Lermontovskaya Volostnaya Zemskaya Uprava
XIX. Necrasovskaya Volostnaya Zemskaya Uprava
XX. Nijene-Tambovskaya Volostnaya Z e m s k a y a
XXI. Poletinskaya Volostnaya Zemskaya Uprava
XXII. Troitzkaya Volostnaya Zemskaya Uprava
XXIII. Tungusskaya Volostnaya Zemskaya Uprava
XIV. Khabarovskaya Uezdnaya Zemskaya Uprava
XXV. Tcherhyaevskaya S t a n i c h n a y a Zemskaya
(Offices listed below affixed stamps of a type used before
1917, with the Imperial coat-of-arms, crowned double-
headed eagle in the center and the name of the office
around the edge.)
XXVI. Gosudarstv. (ennaya) Sbereg. (ateljnaya)
Kassa No. 532
XXVII. Gosudarstv. (ennaya) Sbereg. (ateljnaya)
Kassa No. 789
XXVIII. Khabarovskoe Kaznacheiystvo (Khabarovsk
Newly designed one cordoba notes of the
1962 series are being printed by the American Bank
Note Co. Francisco Hernandez de Cordoba appears in
the center of the obverse. A view of the new sky-
scraper Central Bank Building is on the reverse. The
new design replaces Thomas De La Rue-produced notes
that featured an Indian girl on the obverse and the old,
squat National Bank Building on the reverse.
Portugal This country recently released an unusually
attractive 1,000 escudo note (approximately $35 U. S.).
The portrait on the obverse is placed at the right rather
than the center and is of Don Diniz (1279-1325). The
pictorial element on the reverse is centered to the left
and consists of a sort of two-storey representation. The
top scene shows workmen building in Lisbon in 1290;
the bottom shows students at Coimbra, 1308. Diniz
stands at the left.
Sweden—Five-kroner notes three-quarters of an inch
shorter and slightly narrower than the old series are
being circulated in this Scandinavian country. Gustavus
Vasa, who reigned from 1523 to 1560, is portrayed in
blue on a green background on the obverse. An un-
usual ornamental bird-like design in blue and red ap-
pears on the reverse.
Uruguay—Because of a coin shortage in this country,
new fractional notes are being introduced into circula-
tion. In the 50 centesimos denomination, they feature
the familiar Gen. Artigas on the obverse and the coat
of arms on the reverse. Both sides are printed in light
green on a light orange background, with the serial num-
bers in red. Size is 125 x 60 millimeters. The Casa
de Moneda de Chile printed ten million of these notes
as a stopgap until new coins can be supplied by the
WHOLE NO. 19
Paper Money PAGE 73
Federal Reserve Notes, 1914 Series
By Thomas C. Bain,
During the last few years I have made a very exten-
sive study of the Federal Reserve notes of the 1914 Series,
both red seal and with White-Mellon signatures. While
making this study, I looked over several large collections
of Federal Reserve notes of the 1914 Series, and for
several years I also looked at all the Federal Reserve
notes of the 1914 Series that dealers had at the A.N.A.
While doing this, I noticed two distinct types of Federal
Reserve notes, 1914 Series, with red seal and Burke-
McAdoo signatures. At one of the A.N.A. Conventions, I
discussed these notes with the late Mr. Nathan Gold of
Cleveland, Ohio, and asked him to see what he could
find concerning them in the Treasury Department the
next time he was in Washington. He visited Washington
soon after the convention and wrote to me that he had
checked with the Treasury Department. There he found
that there were two issues of the Federal Reserve notes,
Series of 1914, with red seal and Burke-McAdoo signa-
tures of the $5 through $100 notes.
With the knowledge that two distinct issues existed, I
immediately tried to find as many issues as I could from
the 12 Federal Reserve Banks and of the $5 through $100
notes. I was very fortunate in being able to check the
collection of these notes in the collections of Mr. William
A. Philpott, Jr., Dr. C. F. Miller and Mr. Amon Carter.
Most of these notes from all 12 Federal Reserve Banks
have been observed in both issues from the $5 through
$100 notes. A chart was kept of all notes observed in
order to establish the rarity of the two issues from the
various Federal Reserve Banks. I have observed about
as many of the first issues as I have of the second issue
from the Federal Reserve Banks of New York. Phila-
delphia, Cleveland, Chicago, St. Louis and Kansas City.
The first issue seems to be the scarcest from all the other
Federal Reserve Banks. As I have said before, I have
not observed all of these issues and some may not exist
today, since most of these notes were turned in and de-
stroyed many years ago.
By now you are probably wondering how to distin-
guish between the two issues. The first issue has a large
(bank geographic number) numeral in the lower left-
hand corner and upper right-hand corner of the note.
The second issue has the above large (bank geographic
number) numeral in the lower left-hand corner and
upper right-hand corner but a small (bank geographic
number) numeral has been added to the lower right-
hand corner and upper left-hand corner. All of the
above notes in uncirculated condition are scarce. It may
be several more years before the exact scarcity of the
various denominations from the 12 Federal Reserve
Banks is established.
To cover my complete study of the Federal Reserve
notes, 1914 Series, I am including below the article that
S.P.M.C. No. 112
was published in the December, 1958 issue of The
Numismatist, copyrighted by the The American Numis-
matic Association, from whom permission to reprint it
herein was granted:
Several years ago W. A. Philpott, Jr. of Dallas dis-
covered there were three types of Federal Reserve notes,
Series of 1914, with the White-Mellon signatures. Since
no publication was available that I could refer to on
these three types, I decided to make a study and try to
find out in what order they were issued and the Federal
Reserve banks that issued them.
As I had quite a number of these notes myself and
had access to two extensive collections of these White-
Mellon notes, it was not too difficult to figure out the
order in which the three types were issued. In my cor-
respondence with many dealers and collectors, they have
asked me to explain the three different types as not much
attention has been given to them to date.
The first issue seems to be the most common. It has
a large numeral (issuing bank's geographical number)
in the lower left-hand corner of the note as is shown
on the $10 note on page 111 of the second edition of
Paper Money of the United States by Robert Friedberg.
The second issue has a small numeral in the lower left-
hand corner of the note as is shown on the $20 note on
page 112 of the same book. The third issue has the
two seals the Treasury seal and the Federal Reserve
district geographical seal) approximately one inch closer
to the central portrait and a large (bank geographic
number I numeral in the lower left-hand corner of the
note, but somewhat higher and a little more to the left
than in the first issue.
From the study I have made to date there is no doubt
but that these notes should be considered as being three
different issues instead of three types. The study indi-
cates that the first issue was used from approximately
June 2, 1921, to approximately December 31, 1926. This
is the most common issue and the notes from $5 to $5,000
are known. It looks as if the second issue was printed
from January 1, 1927, through December 31, 1927.
Notes of the second issue are known from $5 through $50
notes. However, it does not appear that all Federal Re-
serve banks issued all denomination notes of the second
and third issue as many are not known to exist at the
The rarest of all of these notes is the third issue which
seems to have been issued from January 1, 1928, to
June 1, 1928. Apparently very few of the Federal Re-
serve banks ordered notes printed for them during this
period as these third issue notes from only a few of the
Federal Reserve banks are known.
In my study, conversation and correspondence with
other collectors, it seems that only nine Federal Reserve
banks issued the $5 denomination of the second issue;
Paper Money WHOLE NO. 19
only five, the $10 denomination of the second issue; only
four, the $20 denomination of the second issue; and only
two, the $50 denomination of the second issue. There
are no notes of the second issue above the $50 denomina-
There seems to be less on the third issue, as only five
Federal Reserve banks issued the $5 denomination; only
four, the $10 denomination of the third issue; and only
two, the $20 denomination of the third issue. There
Data on Jamaican
are no notes of the third issue above the $20 known to
It is my desire to bring to light as much information
as possible on these notes, so I would appreciate all cur-
rency collectors checking their notes with the White-
Mellon signatures and advising me what they have in
the three issues so that all pertinent information may be
made available in the future.
Ray Byrne and I are just finishing a booklet on Jamai-
can coinage and currency. We badly need any data that
any collector can supply on Jamaican currency as well
as specimens of each note for photography.
Mr. George Sten has supplied me with a listing of
some fifty-five notes issued for Jamaica. He has indi-
cated that there may be more. I have the 5 and 10 shil-
ling notes and 1, 5, and 10 pound notes showing Queen
Elizabeth II and the inscription "Issued under the Bank
of Jamaica Law 1960." These are the current notes
now in circulation.
Please advise me what Jamaican notes other than the
1960 notes you have in your collection and their condi-
tion according to the classification below. By knowing
the condition, I shall be able to make a more accurate
priced catalogue. Please specify the date of each note,
also. My address is Box 183, 2900 Quatre-Bourgenois,
Quebec 10, P. Q., Canada.
Even though the first edition of our catalogue may be
in print by the time you read this, please send your data
anyway, for we will include it in the second edition.
Please, everyone who has Jamaican notes or any data
about them, write to me, but do not send the notes.
This catalogue, by the way, will be published by Mr.
Al Almanzar, Milam Bldg., 115 W. Travis St., San An-
tonio, Tex., sometime during the summer of 1966 at
$1.50 or less. Neither author will take any royalties
for his work so that the price can be kept as low as
possible. The catalogue will include a complete listing
of the early counterstamped coins, the coinage of 1869-
1966 and the tokens. Prices and mint figures will be
Grading Classification of Paper Currency
for Jamaican Catalogue
The condition of a note is a result of the wear or use
it has received. A note may be absolutely crisp and show
no folds, but it can have any of the following defects:
pin holes; torn or missing corner; one or two small
tears; writing in ball point or ink pen; stains due to
paper clips, etc., and not due to soil.
These defects should not lower the grade of a note.
They should be mentioned after the condition of a note.
For example: "extra fine with a few pin holes, two num-
hers written by ball point pen, and small stains due to
paper clips." The above defects, because they are not
directly attributable to gradual wear but are caused by
an external force, cannot be placed in a system of note
classification which is dependent on the factors causing
normal wear to a note.
UNCIRCULATED (Unc. ) : The note is in crisp, clean,
new condition without any folds or creases.
EXTRA FINE (E. F. I : The note is crisp and clean
but shows one or two light folds. Older notes may be
slightly soiled around the edges due to frequent handling.
VERY FINE (V. F.) : The note is still fairly crisp but
shows several heavy folds or light creases with possibly
some soil along the creases. The note may also show
some faint smudges.
FINE (F.) : The note is only partly crisp and shows
a number of folds and light creases along which there
may be slight wear (especially on the larger and older
notes) and soil. There may be some smudges or soil in
VERY GOOD (V. G.) : The note is no longer crisp
and shows a number of creases. Some wear may occur
along the creases. The note may be somewhat dirty and
faded. The edges may be lightly frayed with a few
small tears. The corners may be bent.
GOOD (G.) : The note begins to have a limp feel due
to a large number of small wrinkles or creases and is
quite soiled. The note may show a few heavy creases
along which the design is worn and very weak. The
note is frayed along the edges with small edge tears,
especially along the major creases. No part of the note
is missing due to being torn off. All parts of the note
FAIR (F.) : The note has a very limp feel due to a
great number of small wrinkles or creases throughout.
The note is very dirty and parts of it usually are not
readable. Small holes may occur along the main creases
due to wear, and some of the design is worn through.
The edges are quite well frayed and show a number of
small tears with perhaps one or two larger tears. One
or more small corners of the note may be missing.
(Notes in this condition are not really worth collecting.)
WHOLE NO. 1 9
Paper Money PAGE 75
Bank Charters and Politics - 1833
Rediscovered by Senator Warren S. Henderson
Sarasota County, Fla.
In 1833, William M. Gouge, a severe critic of the system
of Banks of Issue, observed the close connections between
the State Legislatures and the charter groups seeking to estab-
lish banks. In his book, A Short History of Paper Money
and Banking in the United States, Mr. Gouge gives the fol-
lowing account of the ways and means by which Bank Char-
ters were obtained and renewed:
When a bill was under consideration in the year 1828,
to renew the charter of the New York State Bank, General
Root, then speaker of the Senate of that Commonwealth,
made a speech, from which the following is an extract:
"This Bank was chartered in 1803. Who were the
original applicants, and what were the representations
made to the country members, it is not necessary to state:
at all events, it was to be a State Bank, and a democratic
one. I was urged to be a subscriber to the Bank; it was
said the shares were to be scattered over the State, and
the members of the Legislature were to have shares. It
was one of the most open, palpable, barefaced acts of
bribery that can be imagined. I was induced to sub-
scribe; but I lost all the shares but a few: they said
they had lost the subscription paper, or some such thing.
So I told them I would not take any. Afterwards a
gentleman who came from Albany to Delaware (i.e.
Delaware county, N.T.) brought me a script for eight
shares. I told them I would not have any; so they kept
them to themselves, I suppose.
"In the year 1816, Mr. Hopkinson, of Philadelphia,
had the boldness to declare in Congress, that 'he con-
sidered the litter of Banks lately created in Pennsylvania,
as the offspring of private legislation and legislative
"A few years since, a senator from Philadelphia
County, was heard to lament that a number of shares
had been reserved for him in a certain Corporation, the
bill for establishing which, he had assisted in passing
through the Legislature. The speculation turning out
unfortunate, he had lost, instead of gaining, by his
services as a stock-jobbing lawgiver.
"There was great struggling for the script of the Spring
Garden Bank. But we know a member of the Legisla-
ture who merely intimated his wish to have a certain
number of shares in that Institution, and his wish was
"A distinguished statesman has lately intimated 'that
there is no law against the Banks subsidizing the public
press.' With equal truth, it may be said, that there is
no law to prevent members of the Legislature from par-
taking of the advantages of the Corporations they them-
selves establish. Still it is proper that such facts should
"Another great inducement with members of the Leg-
islature to vote for new Banks, is that they may have the
means of rewarding the township and ward politicians,
the 'delegates' and 'conferees,' to whom they are indebted
for their nominations. In selecting 'Commissioners,'
they have the means of paying a debt of gratitude to
some men, and of laying others under personal obliga-
tions which they hope will not be forgotten.
"To get a majority to vote for a new Bank, is, in some
instances, no difficult undertaking. In Pennsylvania,
there is a mode of running bills through both houses,
known technically as log-rolling.' The figure of speech
is borrowed from the practice of the original settlers,
who, after cutting down the trees on their tracts of land,
used to assemble together to roll the logs into heaps.
What could not be done by one man, the united strength
of many made easy. In like manner, the members of
the Legislature who are interested in local, personal, or
corporation bills, unite their strength, and roll them all
through both houses. In this way, it may chance that
fifty or a hundred bills are passed in the course of a
session, each of which, if suffered to rest on its own
merit, would have been rejected.
"Many members of the Legislature are averse to this
practice; but some of them are reluctantly brought into
it, by the refusal of the log-rolling' members to vote for
good public bills, unless their own private bills are passed
at the same time.
"The same system is known in the other States, by
other names; and it will readily be believed, that where
it prevails, special privileges will be conferred on com-
panies under any and every pretext. Such is the effect
it has on American Legislation, that a stranger, on in-
specting the list of acts annually passed, might suppose
our State Governments had been established for the
special benefit of stock-jobbers and speculators. In 1826,
the Governor of Massachusetts declared that, within the
preceding five years, charters had been granted to cor-
porations within that Commonwealth, with authority to
hold thirty millions of property. This was exclusive of
charters to Banking, Insurance, Canal and Rail Road
Companies. The Governor of Delaware stated, in his
official message in 1825, that there were then eighty cor-
porations in that small State.
"No doubt many legislators think that, in voting for
new Banks, they are promoting the welfare of their con-
stituents. But the prevalence of false views of the money
corporation system, in legislative bodies, is to be attribu-
ted mainly to the exertions of those members who have
a personal or political interest in establishing and sup-
porting such institutions.
"If a Bank only preserves a tolerable credit, the re-
newal of its charter follows as a matter of course. At
least, we have met with no instance on record, of refusal
to renew the charter of a State Bank which had not
Paper Money WHOLE NO. 19
committed some open act of bankruptcy. How far a
Bank may be entitled to the credit it enjoys, is seldom
inquired into. Too many interests are then concerned.
Those who have bought stock at second hand, know not.
if the Bank were compelled to wind up, if its assets
would cover its debts. Some of the borrowers from the
Bank feel alarmed, for, if called on to pay what they
owe. their insolvency may be made apparent. and the
means of living in splendor be taken away from them.
A clerkship of 600 dollars per annum, makes a man
a firm friend of the Banking system: and he who has
had an accommodation note discounted, of the amount
of only 500 dollars. feels unpleasant if you hint at the
possibility of a charter's not being renewed. Such is
the weakness of human nature, that if a man owns only
a hundred dollars' worth of stock, it makes him less an
enemy to money corporations than he otherwise might
"Whenever the Legislature creates a Bank, it, at the
same time, creates an interest sufficient to sustain that
Bank, under all circumstances but those of open bank-
ruptcy. And, as if to give these various interests as
much power as possible, it has been contrived in Penn-
sylvania. that the charters of nearly all the Banks shall
expire at the same time.
"The extent of Bank influence is not easily apprecia-
ted. It is seldom we see a 'Bank ticket,' or a 'money
corporation ticket,' on the election ground: but when
questions are agitated which affect this interest, the
Banks have agents at work, whose operations are the
more effective because they are unseen. The result
usually is, placing the names of friends of paper money
on all the tickets.
"Over the periodical press, the Banks have great
power. Few journalists can venture to expose the money
corporation system, in such plain terms as everybody
would understand. without risking the means of support
for themselves and families. Newspaper editors have as
much independence of principle as other men; but they
are far from being independent in circumstances. The
neglect of subscribers to pay up arrears, has brought
many of them in debt to the Banks. Others who are
not in debt, are supported principally by the patronage
of the Banking interest.'
"In England it is possible to assail both the ecclesias-
tical and the hereditary aristocracy, through the medium
of the periodical press. Under all the evils the people
of that country suffer, they have the consolation of en-
joying freedom of discussion: but, notwithstanding our
boasted liberty in the United States, free and full ex-
positions of the principal cause of our social evils would
not be tolerated.`-'
"In some respects, the Banks have more power than
the Government itself. They hold the purse-strings of
the nation. They can buy off enemies, and they have
the means, in various ways, of rewarding friends. Their
fund for the circulation of pamphlets is not easily ex-
hausted. They require no formal treaties to induce them
to act in concert. They are ready organized for all
occasions. The direct power their charters give them.
and the additional power they acquire by their diversi-
fied operations, make them all but resistless.
"In the United States, there always have been and
there are now, a great number of men opposed to the
money corporation and paper money system; but their
opposition has produced little effect. In the Bank con-
troversy, there is, on the one side, the strong feeling of
private interest supported by party discipline; and, on
the other side, the comparatively weak feeling of patriot-
ism, without any aid from party organization. The
friends of the Banking system act in concert: its oppo-
nents act singly, if they act at all. Against any kind of
action, there are various discouragements. If a proposi-
tion is made to establish a new Bank, it seems hardly
worth while to oppose it, for one Bank more or less can
have no great effect. The question immediately occurs
on such occasions, why should not these men, as well as
others, be permitted to share the profits of Banking?
Every new Bank does, indeed, increase the difficulty of
reform; but the prospect of reform seems so remote as
to be with many thought hardly worthy of attention.
"Other difficulties arise from the system's having re-
ceived the sanction of the Federal Government, as well
as that of the State Governments. If any one of the
States was disposed to establish a system of sound cur-
rency and sound credit, it would find the work imprac-
ticable so long as a paper money Bank incorporated by
the United States Government continues in existence. If
a proposition is made to suffer the charter of the United
States Bank to expire, we are startled with the horrors
of a multitude of State Banks, issuing paper without
limits, and failing to redeem their notes with specie.
"It ought to excite no surprise that, under such cir-
cumstances, the paper money system has, notwithstand-
ing the great evils it has produced, been prolonged t-
the present time, and that it is daily strengthening and
extending itself. To get rid of it suddenly is impossible.
To remove it would require a regular plan of operations.
the carrying of which into effect would employ a series
of years. Such a plan of operations could be carried
into effect by a party which would be willing to sacrifice
all merely personal predilections and antipathies for the
grand object of breaking down the money corporation
and paper money system, and restoring to the great
body of the American people their natural right of ac-
quiring property by industry and economy."
I "In a speech in Congress in 1816, Mr. Calhoun, referring
to the state of the currency, said, the evil he desired to remedy.
was a deep one; almost incurable: because connected with
public opinion, over which Banks have a great control: They
have, in a great measure, a control over the press; for the
proof of which he referred to the fact, that the present
wretched state of the circulating medium, had scarcely been
denounced by a single paper in the United States."
2 " 'Prey ious to commencing this pamphlet,' says Mr. Care –
in a publication made in 1816, and during its progress in my
hands, prudence and discretion have been constantly exerting
themselves to repress my zeal, and to deter me from the
undertaking. They have incessantly spread before my eyes
the risk of offending those powerful bodies, the Directors of
the Banks, who have so many opportunities of making their
indignation be felt, and some of whom may not be above the
mean and malignant desire of availing themselves of those
" 'To the soundness of these suggestions, I must freely as-
sent. It is plain and practicable. And were I to consult
THIS CIERTIf 1E3 THAT
tem,r, or/ ‘10.04 44/./ A., 4e, •71.",,,,,Ael(
, /?,,//101/47 /,/ /OK Ii?f-//t?',/ -1)/i
// Y71/ ,7/ /
WHOLE NO. 19
Paper Money PAGE 77
my own personal advantage or comfort, I should bow down
in humble submission to their authority. I am well aware
of the risk 1 run. 1 know if there be at any of the Boards
any portion of malice or resentment, (and were there ever
twelve men assembled together without a portion of malice
and resentment?) It will be roused into action to persecute
the man who has dared to arraign their institutions at the
bar of the public, and to accuse them of gross errors, which
have produced a fertile crop of misfortunes and distress to
" 'Another consequence equally clear, is present to my view.
One Bank Director, actuated by malice and resentment, would
do me more injury in a day, than one hundred of those whose
cause I undertake to defend, would do me good in seven
years. The malice of the one would be strong, lasting, insati-
able, and as vigilant as Argus, with his hundred eyes, to gratify
his spleen. The friendship, or the gratitude, of the others
be cold, torpid and lifeless.'"
"Mr. Carey then was, and perhaps still is, a supporter of
the Banking system. The object of his letters was simply to
investigate the policy of a curtailment of accommodations
made by the Banks."
Why Not Collect Business College Currency?
By Maurice M. Burgett
The collector of paper money may answer this ques-
tion with the rejoinder, "But it's only play money,
really!" This is true, in a sense, but the fact remains
that this college currency is now, for the most part, at
least eighty years old, which is a respectable age for
any collector's item. In addition, a goodly number of
these items are colorful and beautifully designed; many
were produced by leading firms of engravers and litho-
graphers, and by studying them one can learn a good
deal about the academic life of America in the 19th
The collector of today will not find these notes very
easy to acquire, although in 1942 the prominent numis-
matic writer, Dr. John Muscalus, listed 116 American
varieties and 48 from Canada. It is probable that the
number issued, in most cases, was comparatively small
and that destruction has overtaken many of them in the
years which have elapsed since their issuance. Since
the Muscalus list was published, many varieties not listed
have appeared, and it is probable that other unknown
varieties are also hidden away, awaiting discovery by
some avid numismatic student of the future.
The majority of the institutions which were mentioned
in the Muscalus listing were located in the East and
the Midwest, since these areas boasted a more complex
civilization than did the West, largely a frontier until
the turn of the century. To the numismatist who is
interested in research, some of these notes have a special
appeal in that the city of issuance is not mentioned on
the notes, and frequently considerable effort is required
to trace their origin.
Such a note is the one illustrated, which was issued
by the "South-Western Business College." Lithographed
in green on fine quality paper, the note is uniface and
bears the imprint of the "Wichita Eagle, kith." Por-
trayed at the left end is a representation of the college,
and at the right end is shown a fine vignette of an early
geographer with books, maps and globe. This vignette
may be familiar to other collectors of obsolete currency,
but the writer does not know of its usage on other items
of paper currency.
A search of available records reveals that this business
college was indeed located in Wichita. Kansas, and was
listed in city directories there from 1888 to 1894, but
from that date the listing no longer appears. According
to information received from the Kansas State Historical
Society, the institution was located at 400 East Douglas,
and the principal was one E. H. Fritch, whose elaborate
signature in Spencerian script appears on the note. The
serial number stamped on the note is surprisingly high,
(CONTINUED ON PAGE 80.)
La presente Ceclola vale Sc'udi Romani
• Z4!" 7! 7
J ∎ tant.V.ag,
do cla pctqarsi
Va -Per tutto to
?FP P ft CIPTIVPITIM
Paper Money WHOLE NO. 19PAGE 78
Paper Money in the Pontifical State
By Alfredo P. Marcon
Issue of "Cedole" Notes by the Sacro Monte di Pieta of Rome
Dec. 5, 1785-Mar. 23, 1798
FIRST ISSUES OF PRINTED NOTES
The first issue of paper money from the Bank of the
"Sacro Monte di Pieta di Roma" goes back to December
By the Edict of July 22, 1785, the General Treasurer
Fabrizio Ruffo made known the decisions taken by Pope
Pius VI by m.p. (his own accord) on June 25, 1785,
in which, among other things, it was established that the
printed notes had to be put into circulation instead of
the handwritten ones.
From December 5, 1785, until December 24, 1787, the
printed notes were put into circulation—without registra-
tion—i.e., they neither bore the name of the Bank's
dependant or other institution entrusted with payments
(on the top-central), nor the date of the issuing inflow
into circulation (on the top-left), nor the registration
(on the top-right). All these elements are found instead
(the denominations of 3 and 4 scudi excepted) on all
the subsequent issues from January 7, 1788 until the
last issue of March 23, 1798, i.e., 40 days after the en-
trance of the French Armies in Rome.
The notes of the first issues bore the stamped signa-
tures of the accountant, Luigi Galli, and the cashier,
Giuseppe Azzurri. The large handwritten signature be-
longed to the subemployee. Gioacchino Pierantoni. Some-
times other signatures can be seen in place of the latter's.
PARTICULARS AND DATES OF ISSUES OF THE
As already mentioned, the name put on the upper part
of the notes issued from January 7, 1788, was that of
the employee charged with the bookkeeping.
The handwritten data referring to the registration into
the opposite registers were marked on the top and lower
right side while, on the top left side, there was the date
of the inflow into circulation, i.e., the real date of the
birth of the note.
The date written out in full and put below the value
expressed with arabic numerals is the one concerning the
supply of the notes, a supply that was obviously pre-
determined according to the estimates of the possibility
of demands. Therefore, before being completely filled
out the notes were merely printed forms, without value,
available for use also after a number of years, as we
can determine by comparing the handwritten date with
the printed one.
COYINUICI GINNAVO mitLi SITTICINTO OTTAN70770
S. MONT E DELIA PIETA' DI ROW
Figure 1. Type A Note
A D1. 3 1 4. SITTEMAII POLL} SET TICIENTO IlieVAIT AC KV,
M. DI PIETA' DI ROAM
Scud° cla pasarsi all'
WHOLE NO. 19
Paper Money PAGE 79
Figure 2. Type B note
LTA§WIrcimo MAiiG/0 MILLI %1TTICINTO NOVANTASET,E
IWS TV/MATT E DELL1I DI ROMAV.
TLa?ir-esente C'eclola vale SCI'S Bomar"
VARIETIES OF TYPES OF NOTES
With regard to the time that they were printed and
the value they had to represent, the notes show a certain
diversity and can be individualized into three types.
The first printing is of December 5, 1785, the last of
August 1, 1796.
Type C note
a presente Cedolct vctglia Scud
03- ° WO. giii".a.v .1 .
Type A—These were created in denomination from 5 to
1.500 scudi and they are larger in size than the notes
of type B and C, printed and issued in the last period,
Type B—They were printed on September 14, 1795.
Smaller in size than types A and C, they were ex-
clusively created in denominations of 3 and 4 scudi.
Paper Money WHOLE NO. 19
Type C-The first printing date goes back to May 1,
1797, the second and last to August 1st of the same
year. They were created in denominations from
5 to 1.500 scudi.
The denominations were totaled 76, i.e.
3 and 4 scudi (small size, Type B), 5, 6, 7, 8, 9, 10,
11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24,
25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38,
39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 55, 60,
65, 70, 75, 80, 85, 90, 95, 100, 110, 120, 130, 140,
200, 250, 300, 350, 400, 450, 500,
1000 and 1.500 (type A and C).
600, 700, 800,
This abundance of denominations was due to the lack
of coin circulation and to the necessity of approaching,
as nearly as possible, the amounts necessary for the needs
of the economic life of that time.
After many events, chiefly due to the invasion of the
Papal State by the French armies, these notes were, for
the most part, publicly destroyed, while the others were
successively put out of circulation. Successively, a cer-
tain value was given again to them and, at last, on May
4, 1799, their legal tender was definitively taken off,
together with the ones emitted by the "Banco di Santo
Spirito", another issuing bank, and the "assignats" issued
by the French authorities.
Afterwards the metallic currency also took the place
of paper money. This supremacy lasted for many de-
cades, a period more than ever necessary to forget all
the anxieties and troubles caused by the ups and downs
that, nearly always, in every country, fatally accompany
the issue of paper money.
The notes issued from the "Sacro Monte di Pieta di
Roma" and from the "Banco di Santo Spirito" have gen-
erally become rare; moreover, all the notes from 100
scudi upwards are very rare and some of them are quite
impossible to find.
Why Not Collect Business College Currency?
(CONTINUED FROM PAGE 77.1
indicating a number issued in excess of 20,000, which
would seem unwarranted for the intended usage-per-
haps this play money was also adorned with a "play"
or fictitious number! However, in any event, the over-
all appearance of this scrip is as fine as that of any cur-
rency issued by the U. S. government during this period,
and the serial number serves to impart an official look
to the scrip, as it is stamped in red ink. This particular
note, as well as a number of others known to the writer,
does not appear in the list compiled by Dr. Muscalus,
indicating that a worthy numismatic project would be a
revision and up-dating of this excellent work.
In lieu of redemption statements or promises to pay,
most of the college notes were marked, "Good only in
the actual business or banking dept." or "Payable in tui-
tion." A numeral of value is always in evidence but
the word "dollars" does not always appear. Portraying,
as they unquestionably do, an interesting bit of the his-
tory of our country, I believe that these notes are well
worth the attention of today's numismatist and will re-
ward him well for any research instituted in their behalf.
At least, they were produced to be used and not to be
sold to collectors, which cannot be said for many of the
so-called rarities in coins which are sought today by
the neophyte as well as by some of his more advanced
OBSOLETE PAPER MONEY
(Bank Notes, Script, Warrants, Drafts)
of the AMERICAN WEST
Oregon, California, Idaho, Nevada, Arizona, Utah, Mon-
tana, New Mexico, Colorado; Dakota, Deseret, Indian,
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.
JOHN J. FORD, JR. 176 HENDRICKSON AVE., ROCKVILLE CENTRE, N. Y.
WHOLE NO. 19
Paper Money PAGE 81
Auction Prices Realized
(CONTINUED FROM PAPER MONEY NO. 18, PAGE 49.)
SMALL SIZE U. S. CURRENCY
Friedberg & Donlon References
(All Crisp Uncirculated)
1610. F.1500-(Donlon 101-1). $1.00. Series of 1928. The
only small size $1.00 Legal Tender Note ever
issued. Red seal. Signatures of Woods-Woodin
$2.00 LEGAL TENDER
(Portrait of Thomas Jefferson, red seal)
1612. F.1504-D.102-4. 1928-C. Julian Morganthau 15.00
1613. F.1505-D.IO2-5. 1928-D. Same signatures 15.00
1614. F.1506-D.102-6. 1928-E. Julian-Vinson 28.00
1616. F.1507-D.102-7. 1928-F. Julian-Snyder 9.00
1618. F.1507-Note as above, Julian-Snyder, but with the
pen autographed signature of Georgia Neese Clarke 30.00
1619. F.1508-D.102-8. 1928-G. Clarke-Snyder 7.00
1621. F.1509-D.102-9. 1953. New type, now with smaller
red seal at right instead of at left. Priest-
1622. F.1510-D.102-10. 1953-A. Priest-Anderson 3.50
$5.00 LEGAL TENDER NOTES
(Portrait of Lincoln)
1624. F.1528-D.105-4. 1928-C. Julian-Morganthau 20.00
1626. F.1533-D.105-9. 1953-A. Priest- Anderson, also
F.1536, D.105-12, 1963, Granahan-Dillon. Two pcs. 15.00
$1.00 SILVER CERTIFICATES
(Portrait of Washington, blue seal)
1627. F.1600-D.201-I. 1928. Tate-Mellon 19.00
1629. F.1601-D.201-2. 1928-A. Woods-Mellon 9.00
1630. F.1602-D.201-3. 1928-B. Woods-Mills 6.50
1631. F.1606-D.201-7. 1934. Julian-Morganthau 8.50
1632. F.I607-D.201-8. 1935. Julian-Morganthau 12.00
1633. F.1608-D.201-9. 1935-A. Julian-Morganthau 5.00
1635. F.1611-D.201-10. 1935-B. Julian-Vinson 8.50
1636. F.1612-D.201-11. 1935-C. Julian-Snyder 4.00
1637. F.1613-D.201-12W and 12N. Narrow and wide
margins. Clarke-Snyder. Two pcs. 8.00
1638. One each of the following 1935-F; 1935-G with
motto; 1935-H; 1957, 1957 with star and 1957-A.
Lot of six notes.
Stack's Public Auction Sale of Feb. 5, 1966
Reported by George D. Hatie
UNITED STATES FRACTIONAL CURRENCY
1079. 3c Notes. Third Issue. Fr. 1226. With light cur-
tain. Uncirculated 20.00
1080. Fr. 1227. With dark curtain. Uncirculated 23.00
1081. 5c Note. First Issue. Fr. 1228. Perforated edges
Without monogram. Uncirculated 22.00
1082. 5c Notes. Second Issue. Fr. 1232. No surcharges
1083. Fr. 1234. 5c. With surcharge "18-63-S", Uncir-
1084. 5c Notes. Third Issue. Fr. 1236. Red reverse. Un-
1085. Fr. 1238. 5c. With green reverse. Uncirculated 13.00
1086. 10c Notes. First Issue. Fr. 1240. Perforated edges
with ABCO monogram. Uncirculated 16.00
1087. Fr. 1242. 10c. Straight edges. With ABCO mono-
gram. Uncirculated 10.00
1088. 10c Notes. Second Issue. Fr. 1244. Without sur-
charges. Uncirculated, gold obverse overprint toned 8.00
1089. Fr. 1246. 10c. With surcharge "18-63" and "S".
1090. 10c Notes. Third Issue. Fr. 1254. Red reverse, with
autographed signatures of Jeffries and Spinner.
1091. Fr. 1255. 10c. Green Reverse. Uncirculated 9.50
1092. 10c Notes. Fourth Issue. Fr. 1258. Large red seal,
pink silk fibres. Uncirculated 7.50
1093. Fr. 1259. 10c. Large red seal, paper with violet silk
fibres and blue ends. Uncirculated 9.00
1094. 10c Notes. Fifth Issue. Fr. 1264. Green seal. Un-
1095. 10c Fr. 1265. Red seal with long key. Uncirculated 7.00
1096. I5c. Fourth Issue. Fr. 1267. Large red seal, plain
paper. Uncirculated 27.00
1097. Fr. 1271. Small red seal, with violet fibres and blue
ends. Uncirculated 27.00
1098. Grant and Sherman Specimen Notes. 15c. Obverse
with wide margins, Jeffries and Spinner. Red re-
verse, wide margins. Uncirculated 185.00
1099. 25c Notes. First Issue. Fr. 1279. Perforated edges
with ABCO monogram. Uncirculated 35.00
1100. Fr. 1281. 25c. Straight edges, with ABCO mono-
gram. Uncirculated 12.50
1101. 25c. Second Issue. Fr. 1283. Without surcharges
1102. Fr. 1286. With surcharges "18-63" and "5". Un-
1103. 25c. Third Issue. Fr. 1291. Red reverse. Uncir-
1104. Fr. 1294. 25c. Green reverse. Uncirculated 11.00
1105. 25c. Fourth Issue. Fr. 1302. Large red seal, paper
with pink silk fibres. Uncirculated 9.50
1106. Fr. 1307. 25c. Smaller red seal. Paper with violet
fibres and blue ends. Uncirculated 10.00
1107. 25c. Fifth Issue. Fr. 1308. With long key. Un-
50c Notes. First Issue. Fr. 1310. Perforated edges
with ABCO monogram. Uncirculated
1110. Fr. 1312. 50c. Plain edges. With monogram ABCO
1111. 50c Notes. Second Issue. Fr. 1316. With surcharges
"18-63". Uncirculated 21.00
1112. Fr. 1318. 50c. With surcharges "18-63" and "I"
1113. 50c Notes. Third Issue. Head of Spinner. Fr. 1328.
Red reverse with surcharge "A-2-6-5" with auto-
graphed signatures of Colby and Spinner. Uncir-
1115. Fr. 1331. 50c. Green reverse, with surcharges and
design figures. Uncirculated
1116. Fr. 1342. 50c. New green reverse, design letter
13.00 "a" on obverse. Uncirculated
9.00 Fr. 1309. 25c. With short key. Uncirculated1108.
Paper Money WHOLE NO. 19
1117. 50c Notes. Third Issue. Liberty seated. Fr. 1347.
Red reverse, with surcharge "A-2-6-5". Uncir-
1119. 50c Fourth Issue. Fr. 1374. Head of Lincoln
Large seal, white paper. Uncirculated 29.00
1120. Fr. 1376. 5Cc. Bust of Stanton. Small red seal,
paper with violet fibres and blue ends. Uncirculated 11.00
1122. Fr. 1379. 50c. Green seal, paper with light violet
fibres. Uncirculated 14.00
1124. 50c Notes. Fifth Issue. Fr. 1381. Red seal, white
paper with silk fibres. Uncirculated 11.00
Yorktowne Auction Sale (Paul S. Seitz)
Mar. 12, 1966
Reported by George W. Wait
COLONIAL & CONTINENTAL CURRENCY
578. Connecticut. June 19, 1776. I Shilling. Uncancelled.
Fine. Watermarked paper. Signed by George
Wyllys, State Secretary. Reverse endorsement-
"Registered J. Jeffery, C. Clk." 6.50
580. Delaware. March 1, 1758. 20 Shillings. Printed by
B. Franklin & D. Hall. Fold repaired in center
where it is considerably stained, otherwise note is
581. Delaware. January 1, 1776. 4 Shillings. This note
signed by James Sykes, a member of Continental
Congress from Delaware. Also signed by John
McKinley & Thomas Collins, who were Governors
of the Colony of Delaware. Very Fine 17.00
582. Delaware. _January 1, 1776. 6 Shillings. Signed by
John McKinley & Thomas Collins. About Uncir-
583. Maryland. January 1, 1767. $2.00 & $8.00. Good to
Very Good, creases repaired in center. Two Pieces 8.50
584. Maryland. March I, 1770. 1/9 Dollar & 1/6 Dollar.
Good, creases repaired. Two Pieces 10.50
585. Maryland. March I, 1770. 82.00. Very Fine. Was
folded but not damaged 9.50
586. Maryland. March 1, 1770. 81.00, .00 & .00. Very
Good average, creases repaired on reverse. Three
587. Maryland. April 10, 1774. 2/3 Dollar. Mica bear-
ing paper. Extra Fine 9.50
588. Maryland. April 10, 1774. $1.00 & $2.00. Very Good
to Fine. Two Pieces 10.50
589. Maryland. April 10, 1774. $2.00. Crisp Uncirculated
Cut a little close at top and bottom 12.50
590. Maryland. April 10, 1774. $4.00. About Uncir-
591. Maryland. December 7, 1775. 1/9 Dollar, 1/3 Dollar,
One & 1/3 Dollar. Very Good average. Three
592. Maryland. August 14, 1776. 1/6 Dollar, 1/2 Dollar,
2/3 Dollar. Average Good to Very Good. Three
593. Maryland. August 14, 1776. .00. Mica bearing
paper. Very Fine 20.50
594. Massachusetts. October 16, 1778. 4 Shillings & 6
Pence. Codfish and Pillar Note. Pine Tree reverse
Note is about Good, edges frayed a little and two
light stains 45.01)
595. Massachusetts. May 5, 1780. .00. Watermarked
Paper. Signed by Baldwin. Guaranteed by the
United States on reverse, countersigned on reverse
by Peter Boyer. Uncancelled. Very Fine, small
cut-off top R edge 18.00
596. New Jersey. April 12, 1760. 3 Pounds. Fair to Good 12.00
597. New Jersey. December 31, 1763. 6 Shillings. Perfect
Crisp Uncirculated. Signed by Richard Smith a
member cf Continental Congress 21.00
598. New Jersey. March 25, 1776. 3 Shillings. Another
practically perfect Uncirculated specimen 22.75
599. New _jersey. March 25, 1776. 12 Shillings. Signed
by John Hart, a Signer of the Declaration of In-
dependence, also by J. Stevens, Jr., Treasurer of
New _jersey. Fine, was folded in center but not
600. New Jersey. March 25, 1776. 6 Pounds. Blue &
Red. Very Good to Fine 19.00
601. New York Water Works. August 2, 1775. 8 Shill-
ings. Signed by W. Hicks, Mayor of New York.
Fine, except note was folded resulting in small _tear
at bottom 14.00
602. North Carolina. April 2, 1776. .00. Wheat sheaf
Small engraved note. Very Good to Fine, was folded 25.00
603. North Carolina. August 8, 1778. $5.00. "The Rising
States." Signed by Wm. Sharpe, Member of Con-
tinental Congress. About Fine, edges slightly
604. North Carolina. August 8, 1778. 810.00. "Persecu-
tion, etc." Fine to Very Fine 24.00
605. North Carolina. May 10, 1780. 825.00. "Dulce pro
Patria." Very Fine 32.50
606. North Carolina. May 10, 1780. $25.00. "Justitia
Addit Fiduciam." Signed by John Ashe, Member
of Continental Congress. Very Fine, but left edge
frayed and a few pin holes 31.00
607. North Carolina. May 10, 1780. $25.00. "Hora Pacis,
etc." Has plate error "Twenty five Spanish Milled
Dollar"-Instead of Dollars. Edge frayed a little
at top, otherwise Very Fine 26.00
608. Pennsylvania. April 3, 1772. 2 Shillings. Signed by
Sm. Coates who was a Director of the First Bank
of the United States. Fine but somewhat dirty 15.00
609. Pennsylvania. April 3, 1772. 2 Shillings & 6 Pence
Signed by Cadwalader Morris, Member of Contin-
ental Congress. Very Good to Fine, was folded 8.00
610. Pennsylvania. April 3, 1772. 2 Shillings & 6 Pence
Signed by John Morton, a Signer of the Declara-
tion of Independence, also by Chas. Humphreys,
a Member of Continental Congress. Good to Very
Good, was folded 36.00
611. Pennsylvania. March 20, 1773. 14 Shillings. Very
scarce denomination. Very Good but dirty 15.00
612. Pennsylvania. March 20, 1773. 16 Shillings. Fine
to Very Fine 25.00
613. Pennsylvania. October 1, 1773. 5 Shillings, 10 Shill-
ings, 15 Shillings. Very Good to Fine. 3 Pieces 15.00
614. Pennsylvania. July 20, 1775. 10 Shillings. Arms of
Great Britain. Very Fine 15.00
615. Pennsylvania. December 8, 1775. 30 Shillings. Better
than Extra Fine 20.00
616. Pennsylvania. April 25, 1776. 2 Shillings & 6 Pence
Also better than Extra Fine 16.00
617. Pennsylvania. April 10, 1777. 3 Pence, 4 Pence, 6
Pence, 9 Pence. Average nearly Fine. 4 Pieces 15.00
618. Pennsylvania. April 10, 1777. 4 Pounds. Frame.
Arms and Value in Red. Paper watermarked Penn-
sylvania. Fine to Very Fine, was folded 16.00
619. Rhode Island. July 2, 1780. $1.00. Guaranteed by
the United States on reverse. Fine 5.00
620. Rhode Island. May 1786. 40 Shillings. Uncirculated 8.50
621. South Carolina. December 23, 1776. One Spanish
Milled Dollar. Wood engraving. Rough brown
paper. A tiny hole in top left corner. Crisp Un-
622. South Carolina. December 23, 1776. Two Spanish
Milled Dollars. Same type as last. Uncirculated
except for small cut at top left. 50.00
623. South Carolina. December 23, 1776. Three Spanish
Milled Dollars. Uncirculated, tiny cut near bottom 46.00
579. Connecticut. October 11, 1777. 7 Pence. Small note,
Blue paper. Uncancelled. On rev.-"Registered J.
Porter, Compt." Very Good
WHOLE NO. 19
Paper Money PACE 83
624. South Carolina. February 8, 1779. 890.00, or 146
Pounds and 5 Shillings. Hercules. Note is Fine to
Very Fine but was folded resulting in short tears
at top and bottom 35.00
626. Virginia. Large Size Note. July 17, 1775. 20 Shill-
ings. Signed by Phil Johnson & Wm. Norvell.
Endorsed by Robert Carter Nicholas, Treasr. Very
627. Virginia. October 16, 1780. 00.00. Type Set. Very
Thin Paper. Extra Fine or better. It does have
some very tiny holes mostly from ink 55.00
628. Virginia. May 7, 1781. $15.00. Type Set. Heavy
Paper. A beautiful note but for a defect that is a
wavy line break in the paper across note. About
629. Philadelphia. May 10, 1775. $30.00. Practically Un-
630. Philadelphia. February 17, 1776. .00. Signed by
George Clymer, member of Continental Congress
Better than Extra Fine 17.50
631. Philadelphia. July 22, 1776. $2.00. Extra Fine
632. Baltimore. February 26, 1777. $30.00. Very Good
to Fine but dirty 10.00
633. Philadelphia. September 26, 1778. $40.00. Very fine 9.50
634. Philadelphia. September 26, 1778. $60.00. Very Good.
Signed by Jos. Gardner, member of Continental
635 U. S. of North America. January 14„ 1779. $55.00
Very Fine 15.00
By Henry D. Blumberg
I don't know what the yearly salary of a T-man is.
but I'd venture about $8,000 per year to start. My
proposal is that for the annual cost of two or three, the
Treasury could pick up about one thousand T-men, many
of them members of the Society of Paper Money Collect.
ors, and hence, possessors of quite highly specialized
To do so, the Government would have to license paper
money collectors. Such licensees would be allowed to
hold counterfeit currency under strict regulation. Just
as a suggestion, such regulations might include (1) for-
warding all bills acquired from non-numismatic sources,
promptly upon receipt, to Washington for examination;
such bills to be returned to the licensee with any neces-
sary markings; (2) the filing of an annual inventory
of all counterfeit bills held by the licensee and such other
safety measures as the Government will, I'm sure, be
able to think of.
As matters now stand, collectors who have run upon
counterfeit currency are most reluctant to reveal it even
to fellow collectors and, for that matter, are probably
reluctant to hold it at all. To be able to form a collec-
tion of such currency legally would, I'm certain, be more
than enough consideration for a collector to get a license.
A thousand pairs of knowledgeable eyes in all parts
of the country looking for bogus bills at very little cost
to the taxpayers: Is anyone interested?
New Canadian Commemorative
Maj. Sheldon S. Carroll, curator of the numismatic
collection of the Bank of Canada. has furnished the fol-
lowing information about an impending commemorative
It has been decided to issue a special one dollar bank
note in 1967, the centennial year of Canada's Confedera-
tion. The centennial symbol will appear on the face of
the note at the left side. There will be a change of
wording on the borders of both obverse and reverse.
The reverse will feature an engraving of the original
Centre Block of the Parliament Buildings which was
destroyed by fire in 1916. Otherwise the design of the
new bank note will be similar to that of the one dollar
bank note of the present issue.
Deliveries of the present one dollar note to chartered
banks will be suspended throughout 1967, and will be
replaced by the centennial issue.
An adequate quantity of the new notes will be printed
with the serial number "1867 1967" for those who are
interested in collecting them. Due to the use of a single
serial number in this special group there will be no
particular advantage to early application for notes from
the Bank of Canada. While collectors may send orders
to the Bank of Canada, Ottawa, by mail on or after July
1, 1966, the notes will not be sent until after December
31, 1966. Applications should be accompanied by a
remittance covering the face value of the notes requested
plus 35 cents for postage.
It's in the Books
By Earl Hughes
QUESTION: The portrait of General Thomas Jackson
is on the Confederate $500 bill. Can you tell me why he
was called "Stonewall," and how he died?
ANSWER: "At the battle of Manassas, July 19- 21,
1861, General Lee, witnessing the bravery of Jackson at
a time when defeat stared the Confederate Army in the
face, cried out to his own wavering command, 'Look at
Jackson ; there he stands like a stone wall !' and in the volley
of fire Stonewall Jackson and the Stonewall Brigade re-
ceived the name they were henceforth to bear. On May
1st, at the Battle of Chancellorsville, he was mortally
wounded by his own men, who mistook him for the
enemy. His last words were, 'Let us cross over the river
and rest under the shade of the trees.' He died May
10th, 1863. In the selection of names for a place in
the Hall of Fame for great Americans, his name was
one of the twenty in Class N—Soldiers and Sailors."—
William West Bradbeer, Confederate and Southern State
(The above book may be borrowed by members
from the SPMC Library, Earl Hughes, Librarian,
Rte. 2. Mitchell, Ind. 47446.)
Paper Money WHOLE NO. 19
New Membership Roster
No. New Members
1721 James A. Scardino, 5949 W. Chicago Ave., Chicago, Ill.
1722 Gerry Edmunds, R. R. #1, Box 166, Glen Eyre, Hawley,
1723 Maurice Espointour, P. 0. Box 128, Moose Lake, Minn.
1724 MSG Terrence G. I larper, HHC 1st Brigade, APO San
Francisco, Cal. 96225
1725 Michael M. Dolnick, 7667 Maple Ave., Takoma Park,
1726 Donald A. Moreau, 259 Maplewood Ave., Portsmouth,
N. H. 03801
1727 H. H. Whitsitt, 3008 Hemlock Drive, San Angelo, Texas
1728 William C. Hibbert, Sr., 309 Harris Ave., Croydon, Pa.
1729 Leonard Meltzer, 17 Temi Rd., Framingham, Mass.
1730 Hilario Ferrari, Rua Caconde n. 96-ZP5, Sao Paulo,
1731 Lawrence M. Richardson, P. 0. Box 36, Gessie, Ind.
1732 Fred Samuels, 6012 Wilderton Ave., Montreal, Quebec,
1733 Stanley W. Scieszka, 3839 Sudbury Ave., Jacksonville,
1734 Richard E. Kupper, 7029 N. Fairchild Circle, Milwaukee,
1735 V. Harold Stamps, P. 0. Box 385, Fort Valley, Ga. 31030
1736 Dr. Herman M. Aqua, 487 Bennett St., Luzerne, Pa.
1737 Mark Wojton, 114 Hillside Ave., Pitcairn, Pa. 15140
1738 James F. Steinke, 24704 Wood, St. Clair Shores, Mich.
1739 Dr. Archie E. Lorance, Jr., P. 0. Box 1155, Vicksburg,
1740 Mary Lois Leath, General Delivery, Mineral Wells,
1741 M. David Orrahood, MD, 2725 Frederica St., Owensboro,
1742 Phil A. MacKay, 1517 Commerce Bldg., Kansas City,
1743 Nick Gerbinski, 205-374-V2 Portage Ave., Winnipeg 1,
1744 William M. Edmondson, P. 0. Box 174, Elizabethtown,
1745 Bobby J. Phipps, Rt. #2, Plainview, Texas 79072
1746 Glenn Baird, 809 Glenwood, Ottumwa, Iowa 52501
1747 R. Stanley Penfield, 56 Sherman Street, Hartford, Conn.
1748 Donald F. Walker, 2811 Cole Ave., Dallas, Texas 75204
1749 LT. Robert F. Dressor, USN, 325 B Ave., Coronado,
1750 Edward J. Black, 2,1 Laurel Road, Demarest, N. J.
1751 Frank Stopyra, 579 E. Sanger St., Philadelphia Pa. 19120
1752 Ralph Finsterwald, 334 S. Water St., Marine City, Mich.
1753 Irvin L. Gittleman, P. 0. Box 164, Monroe, Mich.
1754 John A. Widtman, 1223 Herkimer Road, Utica, N. Y.
1755 R. D. Feild, P. 0. Box 704, Greeneville, Tenn. 37743
C U. S.
C Small size U. S.
Obsolete Vermont & New England
U. S. & Canadian
C $2 U. S. Notes
C Large size U. S. and fractional
C National Bank Notes (Maine), Large size
C Obsolete Geo. Washington notes
C Civil War scrip & sutlers notes
Small size U. S.
C U. S.
Small size U. S., CSA & Foreign
C Coal miner and depression scrip
First issue each denomination
Canadian broken bank notes
C Small size U. S.
U. S. type
Small size $1 FRN
C U. S.
C U. S. & foreign
C Large size U. S. & fractional
Small size U. S.
C Small size U. S.
C U. S. & CSA
WHOLE NO. 19
Paper Money PAGE 85
1756 Arthur J. Smith, 1245 Dickenson Drive, Apt 15E, Coral
Gables, Fla. 33146
1757 LeLand N. Worthley, Jr., 1749 N. Garfield Pl., Holly-
wood, Cal. 90028
C Small size U. S. error notes
1758 Burton G. Sharff, 37 Fox Hill Drive, Natick, Mass. C U. S.
1759 Edward S. Zapletal, 439 Holly Ave., South San Franciso,
C Large size U. S.
1760 John K. Karlovic, P. 0. Box 296, Benton Harbor, Mich. D General
1761 Joseph Santo, 9 Golden Hill, Danbury, Conn. 06810 C Large size U. S. & obsolete
1762 Mrs. Katherine M. Carson, 1 Elm Street, Birmingham,
1763 Mrs. Russell F. Postern, 3330 Altmont Rd., Birmingham,
1764 Budshon Battle, 2855 Thornhill Road, Birmingham, Ala. U. S.
1765 William Ray Laseter, 713 77th Way South, Birmingham,
C U. S.
1766 Frank T. Kennedy, 756 Bentley Drive, Birmingham, Ala. C U. S.
1767 Joseph Williams, 1586 Champlain, Trois-Riviers, P. 0. C Canadian & South America
1768 Raymond Petkow, P. 0. Box 268, San Pedro, Cal. 90733
1769 Clarence Pohlman, Rt. #1, Eldorado, Wis. 54932 C Small size U. S. & forcigh
1710 W. J. Brady, 822 So. Western Ave., Los Angeles, Cal.
C National Bank Note,
Change of Address
1487 Walter M. Schilling, 6010 Canmoor, Troy, Mich. 48084
8 J. Roy Pennell, Jr., P. 0. Box 3005, Anderson, S. C.
1182 Donn A. Fisher, c/o M. J. Heib, 396 Tiburon Blvd.,
Tiburon, Cal. 94920
830 Harry Wigington, 2006 N. Scott St. Apt 101C, Arlington,
595 Bill Waites, 875 Caroline St., Kamloops, B. C., Canada
257 F. A. Jones, 6900 Inkster Rd., Dearborn Hts., Mich.
658 Joseph A. Lange, c/o Bonner, Templeton, Cal. 93465
120 Alfred D. Hoch, Harvard Rd., Stow, Mass. 01775
1418 N. Thomas Abercrombie, 269 Elmhurst, Ypsilanti, Mich.
900 Ed Busse, Jr., P. 0. Box 685, Alhambra, Cal. 91802
413 Maj. J. E. Wilkinson, 124 Russel Dr., Selma, Ala. 36701
22 Robert W. Comely, 20 Jefferson Dr., Rome, Ga. 30161
462 Robert R. Montgomery, 1111 Randall Ave., La Habra,
1450 Catherine Reynolds, 5431 Conn. Ave., N. W. Apt. 304,
Washington, D. C. 20015
1493 Walter L. Maslanka, 4300 N. Richmond St., Chicago,
1279 David Nairn, Thompson, Iowa 50478
1301 Emon R. Johnson, Whittemore Point Rd., Bristol, N. H.
949 Donald L. Allen, Rt. #2, Morehead, Ky. 40351
256 N. F. Carlson, P. 0. 567, Westfield, Pa. 16950
1240 Jeff Wexler, 42 Carman Ave., Cedarhurst, N. Y. 11516
1690 Arden H. Brame, Jr., 1690 North Altadena Dr., Altadena,
1458 Jim C. Crockett, 512 Elizabeth, Irving, Texas 75060
1526 Ronald Horstman, Rt. #2, Gerald, Mo.
1114 Bryan R. Burnett, 2919 Talbot St., San Diego, Cal. 92106
956 Roy E. Cox, Jr., 618 West Semmes St., Osceola, Ark.
1290 David Halsted, 10660 Carnegie, Cleveland, Ohio 44106
542 Robert A. Jones, 46 Park Ave., Galt, Ontario, Canada
1320 David Ray Arnold, Jr., P. 0. Box 643, Los Alamitos,
1058 D. Robert MacRae, 2355 Ala Wai Blvd. Apt. 607, Hono-
lulu, Hawaii 96815
869 Robert Joseph Castellito, 175 Hilcrest Rd., Mt. Vernon,
N. Y. 10552
273 Charles N. Case, 3552 E. Livingston Ave., Apt. B. Colum-
bus, Ohio 43227
951 Philip J. Medicus, P. 0. Box 43, Elmsford, N. Y.
Paper Money WHOLE NO. 19
201 Clyde G. Plyler
63 Luicius S. Ruder
1264 Richard L. Kruse 1209 Ronald J. Roberts
1306 Melvin J. Hendricksen 470 James Rutlander
1433 Mrs. Mary Carie 409 Jack Marles
1387 Larry Lewis 658 Joseph A. Lange
890 11. F. McCloy 597 John Henry Roy
1156 Jerry Kadlicek 515 Col. Thomas H. Bradley
474 11. T. Moore 958 Phillip Rochlin
Members Expelled - Article II Section 8
1247 Ray Austrian
650 Jack W. Nannery
384 Albert Philip Cohen
361 C. J. Dochus
1494 Mrs. Susan Fox
524 William E. Benson
1222 Forest Armstrong 93440
1517 William Domonkos 06430
1179 Dick Naylor 05403
1118 L. J. Kaczor 61822
1248 Dr. Robert R. Wadlund
166 Matt Rothbert 71701
320 Amon Carter, Jr. 76101
1564 M. Tiitus, from M. Titus
Dropped for Non-Payment of Dues
Donald L. Allen
S. M. Barnes
Raymond W. Barstow
Myron Daniel Bergenske
Paul E. Berube
S. J. Bhole
M. S. Breitman
Mrs. Loa Burkholder
William M. Caldwell
Hugh M. Caraher
Joseph T. Cicero
Vincent J. Decarolis
Marvin R. Dershem, Jr.
Walter A. d'Flemecourt
Joseph L. Diodato
R. J. Evans
James D. Ellsworth
Kenneth J. Ferhuson, Jr.
Donn A. Fisher
F. W. Gabel
Robert J. Gelink
Eremson M. Gleason
874 Mrs. Albert Goergens 1382 Raymond H. Kyzer
386 Howard Louis Goodman, r. 491 Fred Lamb
552 E. M. Gordon 109 L. P. Leonard
336 Dr. Edward N. Green 547 Rudolph L. Leuckart
421 James Green, Jr. 679 Thomas E. Lloyd
168 Mrs. Bertha M. Hall 1533 Fred F. Lockwood
290 David Halsted 969 0. H. Longuet
221 Thomas B. Hamilton 1276 Leon Lucas
252 E. Ron Hatch 585 Bruce F. Luther
881 George Hennessey 1327 Ralph Marks, Jr.
346 Charles M. Hellebush 1310 John Marshall
139 Karl F. Heuer 1049 Walter L. Mason, Jr.
235 Wm. E. Holbush 907 Glen 0. Maxwell
134 William F. Holmes 1099 J. W. McGaughey
751 W. K. Huffington 821 Jack E. McGill
094 Luther J. Hultquist 1442 Walter McMann
517 Calvin Hunt 1202 John J. Mette
761 James S. Hurst 1051 N. R. Miller
134 Jacksonville Coin Club 589 Bruce A. Miner
1158 Mrs. Sasmir Jacobs 1312 Mark George Murtaugh
615 Somer James 990 George S. Nave
1150 Art Janes 1269 Lt. William A. Nelson
1424 John Micheal Jaremback 1467 Carl Nessler, Jr.
10 D. Wayne Johnson 933 Frank A. Nowak
19 Ernest Johnson 847 Mrs. E. N. Olson
1214 Harold E. Johnson 36 Al D. O'Rear
1120 Rev. Ralph R. Johnson 1266 Dick J. Pasco
1078 Roy G. Johnson 1025 William Clower Pearce
1145 Robert C. Jones 957 Joseph J. Pelton
484 Kenneth Kantak 1366 Donald J. Perryi 497 Walter E. Kemps 1315 Edward Ploner
1169 Stephen Konicki 1154 J. F. Pollard
283 Joseph S. Kopas 260 Anthony Ptacnik
1219 John Korol 576 George J. Regensburger
591 Matt Krzastek 1368 Rush H. Reed
WHOLE NO. 19
Paper Money PAGE 87
1129 Robert Reynolds 1160 John W. Shannon 894 Floyd Swartzbaugh
23 Larry D. Richardson 1314 Arthur B. Shaw 1408 Benton Taylor
1378 Bob Roe 997 F. W. Shuart 198 John Tenneson
1534 David H. Roth 1251 Linda Sisson 975 Thomas Fred Teuchtler
1233 George M. Rubly 1316 Eugene G. Smith 1036 Lyle L. Thomas
703 C. A. Rusinger 228 James Smith 374 Michael Todascu
1384 Paul Rynearson 1473 Mr. C. R. Snead 812 David B. Tokazewski
1055 Donald E. Sabo 1516 Mrs. L. E. Solomon 1045 Guyon W. Turner
1523 Richard Schiff 1539 Walter D. Spain 981 James Van I larvey
732 Arnold II. Schwartz 536 Arthur M. Spatz 1429 Igor Varpa
749 W. P. Schwartz, Jr. 1084 Isidore J. Stadtherr 837 Ralph M. Weaver
1132 Edwin Scott 1440 Robert M. Stark 1262 Clint White, Jr.
1023 G. L. Seaman 1032 E. F. Stewart 1451 George T. Wullaert
617 W. A. Selfridge 1200 Jeff Stewart 627 George A. Yano
1148 Mrs. C. E. Sha!ley 1436 Coleman Stoops 920 Robert E. Yarmer
* 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 5. FOREIGN CURRENCY
2. U. S. LARGE NATIONAL BANK NOTES
6. OBSOLETE PAPER MONEY
(Colonials, Continental, Confederate,
Notes, Scrip, etc.)
7. U. S. SMALL NOTES
John F. Wall
2110 Wolcott St.
Flint 4, Mich.
8. U. S. SMALL FEDERAL RESERVE NOTES
P. 0. Box 2211
Cleveland, Ohio 44109
C. J. Affleck
34 Peyton St.
George R. Bardsley
748 West Camino Real
Boca Raton, Fla. 33432
Washington, N. C.
Sam. G. McDonald
Rt. 3, 12021 N. Lamar
Austin, Tex. 78751
A. L. Hodson
373 W. Broadway
Winona, Minn. 55987
Frank T. Kennedy
756 Bentley Dr.
Grant H. Woldum
c/o Federal Reserve Exchange
116 River St.
Decorah, Iowa 52101
9. MILITARY CURRENCY
(War, Occupation, Concentration Camp and Emergency
S. FRACTIONAL CURRENCY
9. MISMATCHED SERIAL NO. NOTES
(FROM A SMALL RECENTLY FOUND HOARD
JAMES C. KNOX
Oneida, N. Y.
5c 10c 25c 50c
21 notes to a sheet $47.50
Partial sheet of 18 notes
Singles at $3.00 each set of 4 $10.75
Will trade for nice obsolete currency,
especially New York State. Will consider
all trades except the very common notes.
101 GORDON PARKWAY
SYRACUSE, NEW YORK 13219
U. S. PAPER MONEY
FOR THE COLLECTOR
Specializing in small and large size paper money.
Buying, Selling, Trading. Send for our catalog:
List #3 1966.
WE ARE BUYING
Small and large quantities of new and circulated
paper money wanted. If you have any to sell please
write for our buying list.
1928-A ay. circ. 1.00 S.C. for 1.75
1935-A ay . circ. 1.00 S.C. for 1.65
1935-D (Wide or Nar.) ay. circ. 1.00 S.C
1928-D ay. circ. 2.00 L.T. for 3.50
1928-D Crisp Unc. 5.00 L.T. (SCARCE) for 45.00
Limit one each to a customer. 10 day return
privilege. Satisfaction gu2ranteed, of course.
P. 0. BOX 388 COOPER STATION
NEW YORK, NEW YORK 10003
Proprietor member ANA, SPMC, etc.
Fr. # Donlon #
1600 201-1 All $6.50, new 13.50
1601 201-2 new 8.50
1602 201-3 XF 4.75
1616 201-17 new 2.75
1619 201-14 new 1.75
1653 205-4 new 18.50
16 $1, Chase, 1862, one crease new 55.00
37 $1, Washington, 1917 new 5
77CH. AU. 85.00$5, Jackson, 1880
111 $10, Webster, 1880 CH. AU. 75.00
122 $10, Buffalo, 1901 AU. 65.00
217 $1, Martha Washington, 1886
224 $1, Educational, 1896 VF 30.00
226 $1, Eagle, 1899 AU 19.00
238 $1, Washington, 1923 new 16.00
248 $2, Educational, 1896
258 $2, Washington, 1899 XF-AU 17.50
264 $5, Grant, 1886, 5 silver dollars AU 225.00
268 $5 Educational, 1896, very choice new 325.00
278 $5, Onepapa, 1899 new 57.50
282 $5, Lincoln 1923
368 $10, Sheridan, 1890 VF-XF 295.00
-National li ank -Notes
397 $5, Tamaqua, Pa., dark VG 36.50
432 $20, Boyertown, Pa. XF 225.00
471 $5, Corry, Pa. XF 38.00
Federal Reserve Notes
714 $1, Washington, 1918 XF 20.00
756 $2, Jefferson, 1918 AU 45.00
Iii ooks (latest editions)
Donlon (small notes) 1.00
Rothert (fractional) 1.00
Criswell (North American currency) 15.00
WANTED—Anything To Do With FRACTIONAL CURRENCY
Pa. residents add 5%
All items postpaid--fully guaranteed
Thomas E. Werner
505 N. Walnut St. West Chester. Pa.
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-
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.
we would appreciate your want list by variety, city,
state or country or catalog number if listed so we
can serve you better. We will then quote or send
notes on approval. We keep you on file.
we also do some business in land grants, documents,
stock certificates, early checks, medals, politicals,
stamped envelopes, Lincolnia, maps, early newspap-
ers, Civil War historical material. Correspondence
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
ED UCATIONAL, etc.
CURRENCY and SCRIP.
David Cox, Jr.
712 EDENTON ROAD ST.
HERTFORD, NORTH CAROLINA
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
Will pay ABOVE CATALOG for UNCUT SHEETS
on Wisconsin banks.
Write, describe notes in detail, and price all notes,
Premium paid for Donlon No. 6500.
Friedberg No. 2406
L. J. WATERS
Post Office Box 1051
Madison, Wisconsin 53701
Member: S.P.M.C. No. 415; A.N.A.; A.N.S., etc.
Get an absolutely FREE COPY
of world-famous, colorful
COINS MAGAZINE. Full of
the lore, romance and inside
information on coin collecting.
LIMITED TIME OFFER
231 Water Street
Iola, Wisconsin 54945
Pease send me my FREE COPY of Coins Magazine
U. S. LARGE SIZE CURRENCY
U. S. SMALL SIZE CURRENCY
U. S. FRACTIONAL CURRENCY
915 West End Avenue
New York, N. Y. 10025
Obsolete Bank Notes
2.00 Merchants Bank, 1861. Fine $ 8.75
20.00 Exchange Bank, 1863. X.F. 8.25
50.00 Central Bank, 1860. V.F. 6.75
20.00 Central Bank, 1860, V.F. 6.50
3.00 Bank of Commonwealth, 1862. X.F. 8.25
5.00 Bank of Pittsylvania, 1861. X.F. 13.00
90c City of Lynchburg, 1862. V.F. 5.25
6 1/4 c George F. Hupp, scrip, 1839. Une. 9.00
12 % e George F. Hupp, scrip, 1839. Unc. 9.00
5.00 James River & Kanawha Co. Unc. 14.00
50c Merchants & Mechanics Sa y. Bk. X.F 9.50
1.00 Merchants & Mechanics Sa y. Bk. X.F 8.50
1.00 Bank of the Valley in Va. Une. 7.25
5.00 Bank of Philippi, 1861, V.F 14.00
1.00 Danville Bank, 1802. X.F. 9.00
1.00 Bank of Virginia, 1861. V.F. 7.25
50.00 Bank of Howardsville, 1861, VF/X F 20.00
1.00 City of New Orleans, 1808. A.0
50.00 Bank of New Orleans, 1862. X F 12.00
50.00 Canal Bank,. Unsigned. Unc. 4.50
100.00 Canal Bank. Unsigned. Une.
100.00 Citizens Bank. Unsigned. Unc. 5.50
100.00 Citizens Bank. Undated. Unc. (ABN) 6.00
2.00 C. W. Holt. Scrip. 1862. V.F 5.00
2.00 R. W. Rodgers. Scrip. 1862. Unc. 15.00
2.00 Municipality No. 2, 1839. V.F. 15.00
3.00 Municipality No. 2, 1839. V.F. 16.50
20.00 Municipality No. 2, 1843. A.0 20.00
50.00 Municipality No. 2, 1843. A.0 23.00
500 lberville Parish, Unsigned. Unc. 5.00
50c Concordia l'arish, 1862. Unc. 6.00
5.00 Concordia Parish, 1862. A.0
2.00 Bank of La., 1861. X.F 7.00
5.00 Bank of La., 1860. Fine 5.00
10.00 Bank of La., 1862. Fine 7.00
20.00 Bank of La., 1862. X.F.
50.00 Bank of La., 1862. V.F. 12.00
100.00 Bank of La., 1862. V.F. 20.00
Want lists solicited. Many other obsolete and colonial notes in
stork. Will also buy.
RICHARD T. HOOBER
P. O. BOX 196,
NEWFOUNDLAND, PENNA. 18445
* * *
I will Pay $150.00 for a Sheet of Old Bank Checks
on the Original Bank of Giles of Pearisburg,
I will Pay $300.00 for a Sheet of Broken Bank Bills
on the Original Bank of Giles.
I will Pay $100.00 for a PROOF Broken Bank Note
on the B:nk of Giles. Denomination of $10.00.
I will Pay $75.00 for a Sheet of Old Bank Checks
on the Trans-Alleghany Bank of Virginia of Jeffer-
* * *
I can Offer a few Original recently Discovered Un-
cut Sheets of Old Coal Mine Scrip of Gilliam Coal &
Ccke Co. of Gilliam, W. Va. in denominations of
$3.00 $5.00 $10.00.
3-3-3-3 Printed in Yellow. 104-
5-5-5-5 Printed in Red. 194-
10-10-10-10 Printed in Green. 194-
The Set of 3 complete Sheets $25.00 with condi-
tion about Perfect. If only one Sheet is wanted,
the price is $9.00.
Marietta, Pa. July 1837. 2-1-50c-25c-20c-10c
Complete Sheet of 6 Bills in Abt. Unc. condition.
National Bank Currency
Large or Small
$3.00 OVER FACE
No duplicate cities will be accepted from
you or if I already have the city.
3001 Arden Way
Sacramento, Cal. 95825
Frank F. Sprinkle
P. 0. BOX 864 BLUEFIELD, W. VA. 24701
.'. ,„*..27:CV.k"'".. ,.• t. t '
TIII: NIITI:1 ► I `^t111 Nil 1:tt
and other obsolete U. S. Currency available. L. S. CUR IFACY
1861 TO DATE
Probably have Largest Stock Paper Money
available on East Coast United States today.
Lists available and complete for a Ten
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
I have a large stock on hand at all
times and will be happy to add
your name to my mailing list.
Obsolete Currency Specialist
P. 0. BOX 1358, VENICE, FLA. 33595
NOTE MISMATCHED SERIAL NUMBERS
CONDITION IS STRICTLY CRISP UNCIRCULATED.
Money-order $39.50 each or will trade for $36 in uncirculated currency
or 4 1964 proof sets or 4 rolls Kennedy halves. Can furnish consecutive
numbers. $1, $5, $10 Federal reserve notes beginning 0000, also $1 1957
Silver certificates, plate number 1 both sides and position number 1 beginning
0000 exchanged for other currency I can use or will sell. Send stamped
envelope for price-list uncirculated small notes. Wanted low numbered or odd
numbered or error bills. Richmond Federal Reserve Notes $1, $5, $10 denomi-
nations exchanged for others. Write first. Also have matched pairs, trios and
even four $1 FRN with identical numbers for sale or exchange.
JAMES W. SEVILLE
Obsolete Bank Notes,
Scrip, Store Cards,
Buy or Trade
J. M. DUPONT
77 Myersville Rd.
Chatham, N. J.
BOX 866, STATESVILLE, N. C.
Member Society Paper Money Collectors #630.
Charter Member #86 Paper Money
Collectors of Michigan
Blue Ridge Numismatic Assn. Inc. #1384.
American Numismatic Association R-53295
Reference—Northwestern Bank, Statesville
Phone—Area Code 704 873-7462
BIG CLEARANCE SALE
Confederate States of America
$20 Sailing Ship
F 3.75 XF 8.00
$10 Liberty, Flag & Eagle
$10 Ceres Reclining
T11 $5 Liberty & Eagle
G 45.00 VG 75.00
T50 $50 Jefferson Davis
F (COCI 3.00
T13 $100 Negroes Loading Cotton T52 $10 Capitol at Columbia
UNC. stained Cr. 53 16.00 G 1.50 F 2.40 UNC. 5.00
T14 $50 Moneta Seated T53 $5 Capitol at Richmond
F 5.40 VF 7.20 VF 3.75
XF 4.25 UNC. 6.00
T16 $50 Jefferson Davis T54 $2 Benjamin
VF 7.25 XF 8.00 G 4.00 VG 4.50 F 6.40
T18 $20 Sailing Vessel T55 $1 Clay
VF 3.50 UNC. 5.25 VF 6.40
T20 $20 Liberty & Beehive T56 $100 Lucy Pickens
F 4.25 VF 5.00 AU Cr. 139 8.50 UNC. 19.50
T22 $10 Indian Family T57 $50 Jefferson Davis
VG 37.50 F (COG 3.00 UNC. 4.25
T24 $10 R.M.T. Hunter & Child T58 $20 Capitol at Nashville
VF 10.00 UNC. 3.25
126 $10 Hope & Anchor T59 $10 Capitol at Columbia
VF 8.00 XF 10.00 F 3.00 XF 3.50 UNC. 5.00
T27 $10 Shield & Eagle T60 $5 Capitol at Richmond
VG (cut out cancel) 385.00 XF Cr. 468 16.00 UNC. 3.50
T28 $10 Woman & Urn T61 $2 Benjamin
F 5.00 XF 5.50 F 9.60
T29 $10 Negro Picking Cotton T62 $10 C. C. Clay
F 22.50 VF 32.50 XF 37.50 G 2.50 VG 4.00
T30 $10 Francis Marion T63 50c J. Davis
VF 5.50 XF 6.25 UNC. 3.60
T31 $5 Women Seated T64 $500 Gen. T. I. Jackson
G-f 25.00 UNC. 18.00
F 6.00 VF 7.00
T65 $100 Lucy Pickens
F 4.25 UNC. 4.50
F 6.25 T66 $50 J. Davis
T36 $5 Ceres Seated F 2.65 XF 3.25
F 3.00 vF 3.60 T67 $20 Capitol at Nashville
T37 $5 Sailor Seated F 1.60 UNC. 3.50
F 6.40 VF 8.00 T68 $10 Horses Pu l ling Cannon
T38 $2 South Striking Union F 1.25 UNC. 1.75
F (small pencil hole) 100.00 T69 $5 Capitol at Richmond
T39 $100 Railroad Train F 1.25 UNC. 1.75
I INC. 5.40
$100 Railroad Train
T70 $2 Benjamin
XF 4.50 UNC. 5.50
T41 $100 Neg roes Hoeing Cotton
3.75 UNC. 4.25
T71 $1 C. C. Clay
T42 $ .7 South Striking Union T72 50c I. Davis
VG-F 7 00 UNC. 3.60
I have many Southern, Midwestern and Eastern Broken Bank Notes on hand.
your want list.
Rare and beautiful uncut, two-color sheet of "Treasurer of Ramsey County,
(only two available!) $125.00 each
WANTED: Broken Bank Notes or Sheets on: Minnesota, North Dakota, Iowa,
Dakota, Wisconsin. (Please describe and price,
30 different States! Send
St. Paul, Minn," $1-2-3-5
Michigan, Nebraska, South
621-777-7248 R. H. "ROCKY" ROCKHOLT ANA 29672SPMC 1354
1489 CLAYRIDGE AVE. ST. PAUL, MINN. 55119
500 POSTAGE AND INSURANCE EXTRA ON ORDERS UNDER $5.00
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
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
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.
golur 91. eflawk, III
P.N.G. 65 P. 0. BOX 2381 6 DALLAS 21. TEXAS
The Trend Is Definitely To Paper Money!
AT DONLON'S IT IS
UNITED STATES PAPER MONEY
Exclusively and Full Time - Not A Side Line!
IN THE SPOTLIGHT!
FEDERAL RESERVE NOTES SERIES 1928 to 1963A
There has been a tremendous increase in interest in this issue by col-
lectors endeavoring to complete a series or to obtain all issues of their
own Federal Reserve District.
Donlon has a large variety available from $5.00 to $100.00.
Liberal trade-in allowance for your duplicate Federals if uncirculated.
Let me help you to complete a series or a type set of designs. Send
long stamped envelope for list of Federals available, and liberal trade-
= in offer. Only perfect notes wanted.
TO BETTER HOUSE AND EXHIBIT YOUR PAPER MONEY!
Donlon's Custom-Made Currency Albums
The perfect system for housing and protecting your paper money.
Albums hold 50 to 100 notes in flip-up type, perfect fit, holders. Al-
bum for large size notes $12.50. For small size $10.50 ppd. Donlon's
No Glare holders, small size $1.65 doz. Large $1.80 doz. These hold-
ers will fit the Custom-Made Albums perfectly. Donlon's "UNITED
STATES SMALL SIZE PAPER MONEY" $1.10 ppd. 1966 edition,
now in 4th printing. There must be a reason!
— • — 0 — • _ • _ • _ • — • — • — • —
ALWAYS WANT TO BUY IMPORTANT COLLECTIONS OR CHOICE SINGLES
IN U. S. CURRENCY. Not interested in recent issues excepting as part of a col-
lection. Please list and describe condition carefully. If interested will advise
to send for best possible offer. Return envelope speeds replies to all inquiries.
WILLIAM P. DONLON
% Um) .iNc
United States Currency Exclusively
and Full Time!
Life Member No. 101
UTICA, NEW YORK 13503
S. P. M. C. No. 74
P. 0. BOX 144