Paper Money - Vol. XIX, No. 6 - Whole No. 90 - November - December 1980

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Itairl(LAVALUttvisymna>7:::. -3'91164Am1M '.:--- 11":1191(W-691$1" C0 00001A CROWS WINN G cauf**i tr .riirImu,LutsCb COPOWY1A ILICALIVILPS' Circulated Currency F-828 $20 1915 Dallas Abt. Fine, well-centered, bright 750.00 Federal Reserve Notes Demand for uncirculated currency has never been stronger. In fact, it is increasing each day. Prices are moving upward at such a rate that the average collector can no longer quickly assemble an uncirculated "type" set due to the initial high cost. What can the collector do and still maintain the joy of collecting beautiful and historical U.S. paper money? The logical answer is to turn to the circulated notes. We have seen many circulated notes that had brighter colors and better centering than their uncirculated colleagues. And don't forget, certain notes are unknown in the uncir- culated grades. Many collectors, and a few investors, are missing out on the joy (and potential profit) by not buying circulated notes. Circulated notes over the years have shown an increase in price (and a profit to their owners) so now is the time to buy for your collection before prices of the circulated notes go any higher! Demand Notes of 1861 F-3 $5 Abt. VG. "Payable at Boston". Rare... 675.00 Legal Tender Notes F-29 $1 1880 Fine, creases stained 30.00 F-37 $1 1917 Choice AU 55.00 F-38 $1 1917 Choice Very Fine 20.00 F-39 $1 1917 Ch XF 40.00 F-40 $1 1923 Choice AU 165.00 F-41 $2 1862 Ch VF, two 1/4" tears in margin, bright and beautiful! Folded from bank and put away. First $2 bill 395.00 F-42 $2 1869 Abt. VF The "Rainbow" deuce 350.00 F-43 $2 1874 VG, rare series of 1874 85.00 $2 1874 VF, Scarce 250.00 F-60 $2 1917 Very Fine 39.00 F-86 $5 1907 Rare Napier-Thompson sigs. Fine (washed) 100.00 F-87 $5 1907 Fine. Popular "Woodchopper" note 30.00 F-123 $10 1923 Sharp Fine. Rare & Popular. Jackson 295.00 F-162 $50 1880 Fine. Scarce 695.00 F-179 $100 1880 Good. A very rare note for type or signature 800.00 Silver Certificates F-223 $1 1891 Choice XF Famous "Martha Washington" note 195.00 F-224 $1 1896 Abt. VF The most beautiful U S. Note ever printed 135.00 $1 1896 VF 140.00 $1 1896 XF Sharp 250.00 $1 1896 AU (slight aging) 375.00 F-229 $1 1899 VF 24.00 F-233 $1 1899 VF Popular "Eagle" note 24.00 F-235 $1 1899 VG 10.00 F-236 $1 1899 XF 55.00 F-245 $2 1891 Ch XF nice margins. Popular ''Windom" note 675.00 F-246 $2 1891 XF, well-centered and bright. 575.00 $2 1891 XF A scarce type note 525.00 $2 1891 "Windom" Ch AU 825.00 F-247 $2 1896 Good. Popular "Educational" series 125.00 $2 1896 Fine 225.00 F-248 $2 1896 VG 125.00 $2 1896 Fine 225.00 F-260 $5 1886 Ch VF/XF "Silver Dollar Back", well- centered and bright! Very Rare 1,500.00 F-265 $5 1886 VF Rare and popular last issue of the "Silver Dollar back" 1 250.00 F-268 $5 1896 Bright VF/VF+ Last of the "Educa- tional" series 495.00 F-270 $5 1896 Abt. XF Very rare signature combo 595.00 F-277 $5 1899 Fine The historical "Chief Running Antelope" 80.00 F-278 $5 1899 Sharp XF great for type 275.00 F-280 $5 1899 Abt XF 165.00 F-293 $10 1886 Fine (soiled) Scarce "Tombstone" note 275.00 $10 1886 Nice VF 395.00 F-295 $10 1886 Abt XF Rare signatures 895.00 F-309 $20 1880 VG Rare and famous "Stephen Decatur" note. Undervalued. Includes historical notes 495.00 F-314 $20 1886 "Diamond Back" G/VG. Rare 995.00 F-319 $20 1891 VF/VF+ . Rare and underrated 395.00 F-328 $50 1880 VG. Extremely Rare. Only 9 known! 4,950.00 F-334 $50 1891 Fine, well-centered, very bright. Rare, less than a dozen known! 795.00 Treasury or "Coin" Notes F-347 $1 1890 VG The rarest of the $1 type notes 135.00 F-349 $1 1890 Abt. XF 295.00 F-350 $1 1891 XF Popular Type 225.00 F-357 $2 1891 Fine 175.00 F-359 $5 1890 Fine Scarce & popular 195.00 F-367 $10 1890 G/VG Attractive type note 295.00 F-375 $20 1891 Fine Rare and in demand... 3,750.00 $20 1891 VF-XF Among the finest known, Ex- tremely Rare 6,500.00 Federal Reserve Bank Notes F-709 $1 1918 Boston VG, Excessively rare... 195.00 F-715 $1 1918 Philadelphia Good 9 95 F-716 $1 1918 Philadelphia VG 19.00 F-719 $1 1918 Cleveland VF (stains) 29.00 F-722 $1 1918 Richmond Sharp VF, Scarce 49.00 F-723 $1 1918 Atlanta VG (aged) 19.00 $1 1918 Atlanta Fine. These notes are popular for sets of the 12 different banks 29.00 F-726 $1 1918 Atlanta Fine 29.00 F-729 $1 1918 Chicago Good 9 00 F-733 $1 1918 St. Louis XF/VF. Scarce 49.00 F-734 $1 1918 Minneapolis Fine. Scarce 49.00 $1 1918 Minneapolis VF-XF 145.00 F-735 $1 1918 Minneapolis Fine, Very Rare 850.00 F-736 $1 1918 Minneapolis VF, Scarce 95.00 F-739 $1 1918 Kansas City VF 39.00 F-741 $1 1918 Dallas XF 350.00 F-743 $1 1918 San Francisco VF 39.00 F-760 $2 1918 Richmond Fine (aged) Popular ''Bat- tleship'' 115.00 F-768 $2 1918 St. Louis XF 225.00 F-771 $2 1918 St. Louis Ch AU, well-centered, bright 395.00 F-773 $2 1918 Minneapolis F/VF 99.00 F-775 $2 1918 Kansas City Fine Popular "Battleship" Note • 85.00 F-778 $2 1918 San Francisco Fine 99.00 F-779 $2 1918 San Francisco Ch VF 150.00 F-782 $5 1918 New York XF, bright and well-centered 175.00 F-785 $5 1918 Cleveland VG 35.00 F-790 $5 1918 Atlanta VF Sharp type note 125.00 F-793a $5 1915 Chicago VF, light stain on face 500.00 F-796 $5 1918 St. Louis VF, well-centered 150.00 F-796 $5 1918 St. Louis XF 225.00 F-797 $5 1918 St. Louis VF, well-centered 145.00 F-804 $5 1918 Kansas City VG 49.00 $5 1918 Kansas City Fine 80.00 F-805 $5 1915 Dallas Good+, Rare 295.00 F-808 $5 1915 San Francisco Ch AU. Rare 795.00 F-809a $5 1918 San Francisco VG 425.00 $5 1918 San Francisco Fine/VF, Very Scarce 995.00 F-810 $10 1918 New York VF, well-centered 595.00 F-814 $10 1918 Chicago F/VF 550.00 F-816 $10 1915 Kansas City VF 700.00 F-817a $10 1915 Kansas City Fine 595.00 F-819 $10 1915 Dallas VF, small spot on face 575.00 $10 1915 Dallas XF, small ink spot 725.00 F-833 $5 New York Red Seal Fine. A scarce type note 60.00 F-842 $5 Dallas Red Seal Fine (washed & faded). 29.00 F-846 $5 1914 Boston Blue Seal Fine 15.00 F-849 $5 1914 New York Fine/VF, these are very popular as inexpensive large size notes 19.00 F-866 $5 1914 Atlanta Good (writing on back).... 9.00 F-871a $5 1914 Chicago VF 25.00 F-871b $5 1914 Chicago VF 25.00 F-874 $5 1914 St. Louis Fine 15.00 F-875b $5 1914 St. Louis Fine 19.00 F-879 $5 1914 Minneapolis Fine 15.00 F-883a $5 1914 Kansas City VG (faded) 12.00 F-895 $10 1914 Cleveland Red Seal Fine (washed) 25.00 F-899a $10 1914 St. Louis Red Seal VG a nice type note of a scarce bank 49.00 F-907b $10 1914 Boston Blue Seal VG 25.00 F-911 b $10 1914 New York Fine+ (ink stain on back) 22.00 F-928 $10 1914 Chicago VF (washed) 25.00 F-931b $10 1914 Chicago VF 29.00 F-931c $10 1914 Chicago VF perfect for type 29.00 F-937 $10 1914 Minneapolis AU, a few small nicks in lower margin, tiny stains on back 45.00 F-954 $20 1914 Philadelphia Red Seal VG (washed) Rare type note in any grade 75.00 F-968 $20 1914 New York Blue Seal VF, sharp type note 49.00 F-969 $20 1914 New York VF 49.00 F-979 $20 1914 Cleveland XF (ink stamp on back) 60.00 F-979b $20 1914 Cleveland VF 49.00 F-988 $20 1914 Chicago AU brown spots and stain, 2 small corner folds 79.00 F-994 $20 1914 St. Louis VF 49.00 F-996 $20 1914 Minneapolis VF 45.00 F-998 $20 1914 Minneapolis Ch AU, bright 115.00 F-999 $20 1914 Minneapolis VF Scarce 49.00 F-1005 $20 1914 Dallas Ch XF 89.00 F-1019 $50 1914 St. Louis Red Seal Fine, bright. Low Serial #7177 350.00 F-1028 $50 1914 New York Blue Seal Fair-Good. 65.00 F-1073 $100 1914 St. Louis Red Seal Fine, bright, well-centered 350.00 F-1100 $100 1914 Richmond Blue Seal Good, Scarce 135.00 F-1123 $100 1914 Kansas City VG (stain) 135.00 Gold Certificates F-1173 $10 1922 Choice XF 115.00 F-1177 $20 1882 G/VG Rare 1 250.00 F-1178 $20 1882 Good 70.00 $20 1882 F/VF 250.00 F-1179 $20 1905 "Technicolor" note Fine/VF 795.00 $20 1905 "Technicolor" note VF, bright and at- tractive, a rare type note 995.00 $20 1905 "Technicolor" note, bright. XF. Rare 2,250.00 60.00 125.00 59.00 250.00 59.00 139 159.00 195.00 1000 Insurance Exchange Building Des Moines, Iowa 50309 (515) 243-0129 800-247-5335 F-1183 $20 1906 Fine F-1183 $20 1906 Sharp VF F-1184 $20 1906 VG, Rare signatures $20 1906 Abt. VF F-1187 $20 1922 Fine/VF $20 1922 Choice XF $20 1922 XF/AU Popular F-1197 $50 1882 Good/VG. Scarce F-1199 $50 1913 AU, Very rare and undervalued 695.00 F-1209 $100 1882 About Very Fine, All these Gold Cert. are scarce and undervalued 495.00 Paper Money Page 323 Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XIX No. 6 Whole No. 90 NOV/DEC 1980 ISSN 0031-1162 BARBARA R. MUELLER, Editor 225 S. Fischer Ave. Jefferson, WI 53549 414-674-5239 Manuscripts and publications for review should be addressed to the Editor. Opinions expressed by the authors are their own and do not necessarily reflect those of SPMC or its staff. PAPER MONEY reserves the right to edit or reject any copy. Deadline for editorial copy is the 1st of the month preceding the month of publication (e.g., Feb. 1 for March issue, etc.) SOCIETY BUSINESS & MAGAZINE CIRCULATION Correspondence pertaining to the business affairs of SPMC, including membership, changes of address, and receipt of magazines, should be addressed to the Secretary at P.O. Box 3666, Cranston, RI 02910. ■1■1•1■IMIM IN THIS ISSUE THE 1897 EDUCATIONAL NOTES Gene Hessler, NLG 325 PLEASE: A LITTLE RESPECT FOR THE GEM CU Graeme M. Ton, Jr. 329 CONTINUING THE RECLASSIFICATION OF THE 1861-3 NOTES The Rev. Frank H. Hutchins 330 1929-1935 NATIONAL BANK NOTE VARIETIES M. Owen Warns, NLG 336 A CONTRASTING PAIR: TWO NORTH DAKOTA SCRIP AUCTIONS Forrest W. Daniel 339 THE PAPER COLUMN Peter Huntoon 343 INTERESTING NOTES 'BOUT INTERESTING NOTES Roger H. Durand 346 REGULAR FEATURES COPE REPORT 335 LITERATURE REVIEW 348 WORLD SCENE 348 AUCTION ACTION 350 THE SCRIPOPHILY SCRIBE 351 INTEREST BEARING NOTES 352 SECRETARY'S REPORT 353 LIBRARY NOTES 353 COMING EVENTS 356 MONEY MART 357 Page 324 Whole No. 90 Society of Paper Money Collectors OFFICERS PRESIDENT Wendell Wolka, P.O. Box 366, Hinsdale, IL 60521 VICE-PRESIDENT Larry Adams, 969 Park Circle, Boone, IA 50036 SECRETARY A.R. Beaudreau. P.O. Box 3666, Cranston, RI 02910 TREASURER Roger H. Durand, P.O. Box 186, Rehoboth, MA 02769 APPOINTEES EDITOR Barbara R. Mueller, 225 S. Fischer Ave., Jefferson, WI 53549 LIBRARIAN Wendell Wolka, P.O. Box 366, Hinsdale, IL 60521 PUBLICITY CHAIRMAN Larry Adams, 969 Park Circle, Boone, IA 50036 BOARD OF GOVERNORS Larry Adams, Thomas C. Bain, Charles Colver, Michael Crabb, Jr., C. John Ferreri, Paul Garland, Peter Huntoon, Richard Jones, Robert Medlar, Charles O'Donnell, Jr., Jaspar Payne, Stephen Taylor, Harry Wigington, J. Thomas Wills, Jr., Wendell Wolka. The Society of Paper Money Collectors was organized in 1961 and incorporated in 1964 as a non-profit organization under the laws of the District of Columbia. It is affiliated with the American Numismatic Association and holds its annual meeting at the ANA Convention in August of each year. MEMBERSHIP—REGULAR. Applicants must be at least 18 years of age and of good moral character. JUNIOR. Applicants must be from 12 to 18 years of age and of good moral character. Their application must be signed by a parent or a guardian. They will be preceded by the letter "j". This letter will be removed upon notification to the secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or to vote. Members of the A.N.A. or other recognized numismatic organizations are eligible for membership. Other applicants should be sponsored by an S.P.M.C. member, or the secretary will sponsor persons if they provide suitable references such as well known numismatic firms with whom they have done business, or bank references, etc. DUES—The Society dues are on a calendar year basis. Annual dues are $10. Members who join the Society prior to October 1st receive the magazines already issued in the year in which they join. Members who join after October 1st will have their dies paid through December of the following year. They will also receive, as a bonus, a copy of the magazine issued in November of the year in which they joined. PUBLICATIONS FOR SALE TO MEMBERS BOOKS FOR SALE: All cloth bound books are 81/2 x 11" INDIANA OBSOLETE NOTES & SCRIP $12.00 Non-Member $15.00 MINNESOTA OBSOLETE NOTES & SCRIP, Rockholt $6.00 Non-Member $10.00 MAINE OBSOLETE NOTES & SCRIP, Wait $10.00 Non-Member $14.50 MISSISSIPPI OBSOLETE PAPER MONEY & SCRIP, Leggett $6.00 Non-Member $10.00 ORDERING INSTRUCTIONS 1. Give complete description for all items ordered. 2. Total the cost of all publications ordered. 3. ALL publications are postpaid except orders for less than 5 copies of Paper Money. NEW JERS Y' MONEY, Wait $15.00 Non-Member $18.50 TERRITORIALS—A GUIDE TO U.S. TERRITORIAL BANK NOTES, Huntoon $12.00 Non-Member $15.00 INDIAN TERRITORY / OKLAHOMA / KANSAS OBSOLETE NOTES & SCRIPT, Burgett & Whitfield $11.00 Non-Member $13.75 Write for Quantity Prices on the above books. 4. Enclose payment (U.S. funds only) with all orders. Make your check or money order payable to: Society of Paper Money Collectors. 5. Remember to include your ZIP CODE. 6. Allow up to six weeks for delivery. We have no control of your package after we place it in the mails. Order from: The Camden Co.—SPMC Book Sales Dept. P. 0. Box 9, Camden, S. C. 29020 Library Services The Society maintains a lending library for the use of the members only. For further information, write the Librarian — Wendell Wolka, P.O. Box 366, Hinsdale, Ill. 60521. Paper Money Page 325 The I 9 1 Educational NotesBy Gene Hessler, NLG$2 Design NewlyDiscovered Those who were qualified to judge, including Augustus St. Gaudens, considered the silver certificates of 1896 a triumph in banknote design; by many others, these beautiful notes were considered a failure. In an announcement to the public, the Treasury Department stated the intent of the Bureau of Engraving and Printing, with the assistance of the country's most famous muralists as designers, to produce aesthetically pleasing notes that would rival all other currency. On 13 January 1895, 18 months before the first of the new notes were released, a reporter for The New York Times commented on the aesthetic intentions of the Bureau of Engraving and Printing: "To most men the beauty of a United States note depends less on the artistic value of the picture engraved upon it than the size of the plain number stamped on the face." Perhaps the reporter shouldn't be criticized too much for his poignant observation during a depression when at least two million were unemployed and 1,300 strikes were called during the previous year. This was the time of William Jennings Bryan, leader of the Democratic Party, who advocated bimetallism, freeing silver and abolishing the gold standard. "You shall not press down upon the brow of labor this crown of thorns, you shall not crucify mankind on a cross of gold." Money was scarce, especially small denomination notes. The entire 1896 silver certificate issue, for all three denominations, totaled 112,928,000 notes. On a per capita basis that is about one and a half notes for each of the 70 million people in the U. S. in 1896. Today, one Federal Reserve District in one year might release 400 million or more notes. The average weekly salaries of those employed amounted to a few dollars. And, true, those on the lower end of the economic scale probably did not have banknotes in their hands long enough to ponder their aesthetic qualities. Notwithstanding, there is no reason for not making a functional item beautiful, if it can be done, be it a chamber pot or a banknote. This was most likely the reasoning within the U. S. Treasury Department. So, work began on the exquisite but short- lived educational notes. The new $1 note was released in July of 1896; the $2 and $5 followed in August. On the 15th of the following month, Secret Service men reported that the denomination on the "1"s had been altered to "5"s. One of the first published criticisms of all three notes was printed in the New York Sun, on 23 January 1897: The elaborately designed new silver certificates have not won the popular success that was hoped for by the authorities in Washington ... The first objection is that the different denominations...are not nearly so readily distinguishable as in former issues. In the matter of the five-dollar certificate this criticism is can easily be mistaken for a two-dollar...unless great care is exercised... Page 326 Whole No. 90 Proof of the $1 1896 educational note as issued. Essay for the 1897 design, note the change in all numeral "l's," and the addition of two small "1's" in upper border. The second objection is that the great mass of engraving...adds much to the difficulty of deciphering the different denominations. This is the most serious objection urged against the new certificates. "The new certificates," said the cashier of a big bank downtown, "are an absolute nuisance when they get soiled from use. It is next to impossible to decipher the numerals when the certificates are completely worn. It is a constant and bothersome eye strain when one has to count the worn ones by the thousands daily." Still another that they are not nearly so durable as the former issues, and that they tear very readily after they have been folded up a number of times and carried in a pocketbook. The creases of the folds...are not so easily removed as in the former issues. (A softer paper which was more receptive to the new design did prove to be less durable.) By 15 August 1897 1 , the new $1, $2 and $5 notes had been in circulation for over one year. On the aforementioned date The New York Times reported that this series is "...doomed to be retired before it is fully completed. Higher denominations were forthcoming. The whole series has proved unsuccessful from the point of view of the handlers of money." The article continues by saying that judges of good workmanship liked the new notes, and agree they are the best example of banknote engraving. Everyone involved in the production of the educational notes, designers, engravers, Bureau Chief Johnson and Secretary of the Treasury Gage, must have been saddened by the public reaction to their masterpieces. In an attempt to win the public over, alterations were made in the designs and new plates were made for an 1897 series. 2 I. This date is given incorrectly as 18% for the same quote in The Life and Work of Thomas F. Morris 1852-1898, by Thomas F. Morris, II, published by the author, p. 115. 2. The $1, $5 and $10 designs were illustrated in this author's U.S. Essay, Proof and Specimen Notes; however, the $2 design was only discovered recently by the author, and is illustrated here for the first time. On the face of the $1 design, a new style numeral "1" in white stands out on a dark counter. Clouds were Paper Money Page 327 The 1896 $2 note as issued. An incomplete essay for the 1897 design, newly discovered by the author. removed from the sky. The $2 design, represented here by an incomplete proof, appears to be much the same as the 1896 version with the exception of counters to frame the numeral "2." Perhaps this change was to make it easier for those would not distinguish a "5" from a "2." The new $5 notes would be "lightened," according to the New York Times of 4 May 1897. The numeral "5," although smaller, was placed on a darkened counter, and one ribbon was removed from both left and right borders. The most obviously change in the $5 design can be traced to Anthony Comstock, self-appointed keeper of the public morals. As president of the Watch and Ward Society, he complained vociferously to the Treasury Department that the figure of Electricity was lewd and immoral. On the 1896 version she revealed more vital flesh than she concealed. There is no absolute proof that the government withdrew these notes because of the outcry of Mr. Comstock, but they are now scarce in uncirculated condition. That the Treasury Department obviously made an attempt to assuage Mr. Comstock and his followers, the 1897 version bears witness; the proof is in the putting on of an additional flimsy raiment to cover the upper portion of Electricity. The 1896 $10 notes were never issued, and a proof with "series of 1897" is known. There is no noticeable artistic change on the latter. New plates were made from the altered designs, but all for nought. Secretary of the Treasury Gage decided to cancel the entire issue. The numerals on the $1, $2, and $5 notes stand out more on the 1897 essays and may very well have pleased the bankers and newspapers. For the collector it would have meant a type II educational note. There could have been another reason for the Secretary's decision to discontinue the educational series. According to an item in the New York Times of 23 October 1897, Secretary of the Treasury Gage made a presentation to the Cabinet, that a consistency of design be adopted for each denomination regardless of The 1980 $5 note as issued. Page 328 Whole No. 90 An incomplete essay for the 1897 design. Note the additional garments on Fame and Electricity. Essay for the 1897 $10 eductional note. The 1896 design, also unissued, is exactly the same. the type of note. This would mean that $1 notes, whether they were silver certificates, gold certificates or United States notes, would all bear the same design. The other denominations would follow the same pattern. The only difference would be the type of note and the obligation statement printed thereon. To demonstrate his plan, examples were shown to the Cabinet. The Annual Reports of the Bureau of Engraving and Printing3 yield no information concerning these essays. Upon examination of die and plate proofs at the Bureau, I was not able to find any physical examples of the designs Secretary Gage put before the Cabinet for their consideration. Unfortunately the artistic educational notes quickly succumbed to the laissez-faire philosophy of the newspapers and the public. No silver certificates with completely new designs were issued until the series of 1899 made its appearance. In the next issue of this journal, that design will be discussed but as an essay for a Treasury note. 3. An unexpected entry under miscellaneous appropriations for fiscal year 18% was noted: 12 violin strings, 88C. Following World War I, employees at the Bureau formed a concert band. Perhaps the precursor of this larger group was a string quartet. SUPPORT YOUR SOCIETY The Society of Paper Money Collectors has an informative handout brochure available for the asking. Contained in the brochure is information on the Society and paper money in general. Take some with you to the next coin club meeting or show. Write S.P.M.C. secretary Del Beaudreau. Paper Money Page 329 Please: A Little RESPECT for the GEM CU! By Graeme M. Ton, Jr. (The following discussion represents the views of the author and not necessarily those of this publication or its sponsoring society. To advance understanding of grading problems, other authors are invited to submit their views for publication. BRM) With the advent of all the newcomers and the tossing about of established grading standards, Rodney Dangerfield gets more respect than the abuses the GEM CU is receiving! It is developing that GEM CU really just describes a true CU note. It does not take into account the GEM qualities of CU notes, as was its purpose in the past. These qualities cover 17 criteria that distinguish the GEM CU from a regular CU. A review of these criteria might be useful: 1) A pure uncirculated specimen. 2) Not just crisp, but crackling crispness. 3) No impairments as folds, creases, bends, "teller handling", cleaning, pressing, trimming, and of course no tears, holes, writing, blotches, stains or other defects. 4) The printing must be exceptionally bright with full richness of colors on the face, reverse, serial numbers, and seal. 5) Full clarity of printing impression on face, reverse, serial numbers, and seal (check seal closely). 6-13) There are eight margins on a note; four on the face and four on the reverse. All eight margins must be evenly centered. An allowance of one to two millimeters might be accepted for one margin on the reverse. 14-16) The alignment and registration of the serial numbers and of the seal must be perfect. No up and down digits on the serial number. The seal placement is four square. (How many check this when specifying nothing but Choice, Gem, well-centered specimens?) 17) GEM is reserved for notes of higher value. It is meaningless to use it on common, low value notes. There are some exceptions to the above criteria that would be peculiar characteristics of certain issues. The Yellow Seal on the North Africas is very rarely clear. The velvet, pebbly surface texture of the paper on the 18- subject sheet notes is the standard as issued. Those would be the most notable. These criteria might seem confining --- and, frankly, they should be for a GEM CU. Most notes will not meet all the criteria of a true pristine specimen. They could be called Nice CU's or Choice CU's to identify better qualities than normal CU's. In actuality, when a GEM CU is seen, it will be quickly recognized. It will definitely stand apart from other notes. The first thing you notice is the unusual richness, brightness, and clarity of the printing with that crackling crispness. Then you look to see that it is a true CU and unimpaired. Once satisfied with those criteria, you then examine for the evenness of margins and registration of the serial numbers and the seal. When it is considered that a note goes through three printing and two cutting processes, it is not difficult to understand that very few GEMS are produced. Additionally, there is not the evenness of inking or brightness of paper in their production. Many times quality controls are relaxed in the rush to meet the demands for paper currency. This is particularly evident in the 18-subject issues. After printing and cutting, the notes pass through many hands...from the print room to the BEP vault, from BEP to a FRB, from FRB to a commercial bank, and finally issuance to the public. The notes might move several times at one location. That is a lot of handling! It further diminishes the possibility of a GEM CU surviving. As a specialist in early small currency for many years, I have had opportunity to examine many tens of thousands of notes. The incidence of GEM CU is very low --- possibly one in a thousand. There is a higher incidence in large currency, particularly 1896 and earlier. Closer quality control and distribution control were practiced when fewer notes were needed. You do have the 'aging" criterion when considering a large as a GEM CU, of course. There seems to be a general degradation of all established values these days. In grading paper currency, we should strive to maintain the integrity of at least one --- the GEM CU --- before it becomes THE endangered species. Page 330 Whole No. 90 ******************************************4-*************************************** Effective immediately, all orders * addressed to:*** ******* **** ************* ******************************* *-11-4**** *********************************** 44 -******** 11-41-li* IMPORTANT NOTICE Society Book Sales The Camden Company SPMC Book Sales Department P. 0. Box 9 Camden, South Carolina 29020 for the Society's books should be Continuing The Reclassification of the 1861-3 Notes By The Rev. Frank H. Hutchins It has been observed already that there are three main types of the $1 legal tender notes of 1862, with one introductory, or experimental, note — the Series 1 — and a maverick — the Series 215 with monogram. Doug Murray has since discovered a Series 218 with the monogram, and I myself have both varieties of the 215 and Walter Breen reports a 218 without the monogram, showing that not all of these are mavericks. It's also been observed that Series 202 and 203 are of type 1 — "American" with monogram — and Murray has since Figure 1. Paper Money Figure 2. Page 331 come up with a 199 of this variety, with a serial number lower, by the way, than that of my 199, which is not a maverick, and although I've never come across a 202 or 203 that wasn't, he suggests that at about this time the Bureau may have had both types on hand, and used whichever came to hand as stock was needed. In any case, type 1 was used as late as Series 203, type 2 as early as Series 167, and type 3 specifically from Series 235 to 284. Figure 1 shows the transition from type 2 to type 3, and Figure 2 the three types, the introductory variety, and an example of the maverick, seen so far only in type 2, though Breen lists two that would be in type 3 — a 252 and a 276 — as well as a 212 type 3, which ought to be a type 2 —I have a photostat of one that is. Concerning this, however, he and I have both seen 4's that looked like l's, and he admitted that it might have been a 242, which would be, normally, type 3. The twos have only two types, both now listed in both Friedberg and Donlon-Kagin and portrayed in Figure 3. I've not considered these worth studying, though study might reveal a point at which type 1 became type 2. Figure 3. Page 332 The fives and tens and twenties show a uniformity of variation, and the fifties and the hundreds doubtless follow in their wake, although it's difficult to say, because they're far from being plentiful enough to make the study easy. The few we've seen apparently conform. I've shown demand notes right along with legal tenders, there's so little difference between them and the separating of them leads to disregarding them as the precursors that they were of legal tender notes — precursors hardly different from legal tenders to the casual observer. Differences do exist, besides the leaving out of "ON DEMAND," and these will be observed; but Figures 4 - 6 contain them, to display their similarities. The backs are altogether different, as we can see; but only looking at the faces shows how similar the faces are. Aside, as I have said, from leaving off the "ON DEMAND," the fives, along with all the rest, are signed by Chittenden and Spinner, have "ACT OF JULY 17, 1861" replaced by "ACT OF FEB, 25TH, 1862," in a more conventional style of type, have the Treasury seal added, and the bottom border continued, not broken into 1337 the words, "RECEIVABLE IN PAYMENT OF ALL PUBLIC DUES", and have the words "Washington Aug. 10th 1861" changed to "Washington March 10th Whole No. 90 Figure 4. 1110.1 404.10gew. 44-olg, 1862" with slight variations in the styles of printing on the fives and the tens. The Series is moved from a point near the serial number to the upper left-hand corner, while on the tens the serial number itself is moved from the lower left to the upper right and the Series is moved with it as well as stating that the note is payable at the Treasury, while the demand note had been payable by the Assistant Treasurer, of the United States. Despite these changes, a glance at the two notes in Figures 4 and 5 will show how hard it is to distinguish between them. Figure 4 shows all the changes in the fives through 1863 and Figure 5 shows all the changes in the tens, while Figure 6 shows all the changes in the twenties in 1863 itself, and a comparison of the three shows how similar the changes were in all these three denominations. Breen tells me that the "Friedberg 61" exists, although I've never seen one, and somewhere in the middle of the 61-a's the Series was shifted from the upper to the lower left, with the change of obligation coming even later. Breen also tells me that the 1862 with the new obligation is very rare. Figure 5. Paper Money Page 333 Page 334 Whole No. 90 With the change of obligation came the change in the position of "American Bank Note Co. New York" from the top of the note to a position under Chittenden's signature, where it stayed through 1863, and the addition, under Spinner's signature, of the words "National Bank Note Company", which stay there for type 1 of 1863. In type 2 they are changed to "American Bank Note Co. New York," and only in type 3 is the serial number repeated in the lower left. The tens retain the words "American Bank Note Co. New York" throughout the issue; but with the change from demands to legal tenders the background of the words "PAYABLE BY THE ASST. TREASURER OF THE U. S. AT NEW YORK" becomes less elaborate at the ends, but far more elaborate at the bottom, as the serial number is moved to the upper right and the words are changed to "PAYABLE AT THE TREASURY OF THE U. S. AT NEW YORK." The words "NATIONAL BANK NOTE COMPANY" are added under it with the change of obligation, and these are changed to "American Bank Note Co. New York" on types 2 and 3 of the 1863's, while on the twenties "NATIONAL BANK NOTE COMPANY," surmounting "American Bank Note Co. New York" at the bottom of type 1, is omitted on types 2 and 3. Also: — On the twenties there are two or three additional varieties, Some twenties have flourishes around the check letter, and some do not. I lack type 2 without the flourishes, but continually hope that I'll discover one. Figure 6. LRIFIAL OE IFIAGRAVING & PRINTING COPE PRODUCTION FEDERAL RESERVE NOTES PRINTED DURING JULY 1980 ONE HUNDRED DOLLARS 1977 B 79 :360 001 B Fi 82 560 000 A 3,200,000 SERIAL NUMBERS 1977 K 1:3 440 001 A K 16 OM 000 A 2,56(1,000 SERIES FROM TO QUANTITY ONE DOLLAR ADDITION FOR MONTH OF APRIL ONE DOLLAR 1977A D 55 040 001 C D 76 160 000 C 21,120,000 1979A A 05 136 001 * A 05 760 000 * 128,000 ## 1977A D 07 040 001 * D 07 680 000 * 640,000 1977A D 07 680 001 F E 39 680 000 F 32,000,000 1977A E 01 280 001 * E 01 920 000 * 640,000 1977A 1977A F 29 440 001 G F 11 520 001 * F 69 120 000 G F 12 160 000 * 39,680,000 640,000 CORRECTION FOR MONTH OF JUNE 1977A I977A F 12 160 001 * G 70 400 001 G F 12 800 000 * G 99 840 000 G 640,000 29,440,000 FIFTY DOLLARS 1977A G 00 000 001 H G 02 560 000 H 2,560,000 1977 G 00 640 001 * G 00 768 000 * 128,000 ## 1977A G 10 240 001 * G 10 880 000 * 640,000 1977A J 19 080 001 D J 46 080 000 D 32,000,000 1977A J 07 680 001 * J 08 320 000 * 640,000 1977A J 07 336 001 * J 08 960 000 * 128,000 PRINTED DURING AUGUST 1980 1977A J 08 972 001 * J 09 600 000 * 256,000 SERIAL NUMBERS SERIES FROM TO QUANTITY 1977A B 73 600 001 I B 94 720 000 I 21,120,000 1977A B 15 360 001 * B 16 000 000 * 640,000 FIVE DOLLARS 1977A C 01 280 001 I) C 29 440 000 D 28,160,000 1977A B 01 920 001 C B 08 960 000 C 7,040,000 1977A C 07 040 001 * C 07 680 000 * 640,000 1977A B 05 136 001 * B 05 760 000 * 128,000 1977A E 39 680 001 F E 70 400 000 F 30,720,000 1977A F 42 880 001 B F 49 280 000 B 6,400,000 1977A E 01 920 001 * E 02 560 000 * 640,000 1977A F 02 576 001 * F 03 200 000 * 128,000 1977A F 69 120 001 G F 99 840 00(1 G 30,720,000 1977A H 55 040 001 A H 62 080 000 A 7,040,000 1977A F 00 000 001 H F 02 560 000 H 2,560,000 1977A H 00 656 001 * H 01 280 000 * 128,000 1977A F 12 800 001 * F 13 440 000 * 640,000 1977A K 76 800 001 A K 89 600 000 A 12,800,000 1977A K 90 240 001 D K 99 840 000 D 9,600,000 I977A L 51 840 001 B L 58 880 000 B 7,040,000 1977A K 00 000 001 E K 25 600 000 E 25,600,000 1977A K 08 960 001 * K 09 600 000 * 640,000 1977A L 60 800 001 G L 88 320 000 G 27,520,000 1977A L I() 880 001 * L 11 520 000 * 690,000 TEN DOLLARS 1977A 1977A A 10 880 001 B A 04 480 001 * A 18 560 000 B A 05 120 000 * 7,680,000 640,000 FIVE DOLLARS 1977A B 21 120 001 D B 27 520 000 D 6,400,000 1977A D 87 040 001 A I) 97 280 000 A 10,200,000 I977A B 10 880 001 * B 11 520 OM * 640,000 I977A D 03 856 001 * D 04 480 000 * 128,000 1977A C 91 520 001 A C 99 200 000 A 7,680,000 1977A G 90 240 001 B G 98 560 000 B 8,320,000 1977A C 01 296 001 * C 01 920 000 * 128,000 1977A G 04 492 001 * G 05 120 000 * 256,000 1977A E 88 960 001 A E 98 560 000 A 9,600,000 1977A E 03 840 001 * E 04 480 000 * 640,000 1977A K 65 280 001 A K 72 320 000 A 7,040,000 TEN DOLLARS 1977A 1977A 1977A K 01 932 001 * L 73 600 001 A L 02 572 001 * K 02 560 000 * L 83 840 000 A L 03 200 000 * 256,000 10,240,000 256,000 1977A A 18 560 001 B A 27 520 000 B 1977A B 27 520 001 1) B 41 600 000 D 1977A G 85 120 001 B G 90 240 000 B 8,960,000 14,080,000 5,120,000 TWENTY DOLLARS TWENTY DOLLARS 1977 B 20 480 001 I) B :33 280 000 D 12,800,000 1977 C 53 760 001 A C 60 160 000 A 6,400,000 1977 B 07 056 001 * B 07 680 000 * 128,000 1977 E 42 240 001 B E 53 120 000 B 10,880,000 1977 I) 35 200 001 B D 46 080 000 B 10,880,000 1977 H 59 520 001 A H 76 160 000 A 16.640,1)(1(1 1977 D 04 488 001 * D 05 120 000 * 384,000 1977 H 01 936 001 * 1-1 02 560 0101 1977 E 53 120 001 B E 69 120 000 B 16,000,000 1977 L 22 400 001 B L112 000 000 B 9,61)0,000 1977 G 36 480 001 C G 51 840 000 C 15,360,000 1977 L 04 496 001 * L 05 120 000 * 128,000 1977 G 07 048 001 * G 07 680 000 * 384,000 1977 K 78 720 001 A K 94 080 000 A 15,360,000 1977 K 0:3 832 001 * K 04 480 000 * 256,000 1977 K 04 480 001 * K 05 120 000 * 640,000 FIFTY DOLLARS ADDITIONAL FOR APRIL 1980 1977 B 27 520 001 A B 30 720 000 A :3,200,000 1977 B 00 832 001 * H 00 960 000 * 128,000 FIVE DOLLARS 1977 G 27 520 001 A G 30 720 000 A 3,20(1,000 19,1A (; 78 080 001 H (191) 241) 000 R 16040») ## Paper Money Page 335 .4 Tany:400,05! --t-trAltEnlert. **...- 11f£ 00000011 MOON. 11111 CROWS LANDING CALWORNIA Env tiouAits 5 WISIEJLOWNWSW 114.311,M&- CO 00011 Courtesy Joe Kinney The First National Bank of Crows Landing, California Charter 9765 Established 1910 This intriguing National Bank title is classed among the most sought after by National Bank Note collectors, particularly specialists in California. The scarcity of notes from this bank can be readily understood when it is observed that the bank had only $6,250 in outstanding notes according to the 1934 report. The bank issued $5, $10, and $20 small size notes. This is the first of its notes to surface after 46 years, and its owner wishes to remain anonymous. FLORIDA 11038 Leesburg .... 10. ILLINOIS 1641 Olney 20. 1755 Lanark 10. 4433 Vienna 10. 4449 Anna 10. 5153 Harrisburg ... 5. 5538 Hindsboro 20. 6609 Fairfield 10. 6713 Brockport 20. 8473 Greenfield 20. 8630 Ridge Farm 10. 8696 Oblong 20. 8846 St. Francisville 20. 9408 McLeansboro . 5. * 9439 Ridgeway 10. 20. *12096 Xenia 5 13236 Belleville 5 INDIANA 2057 Lebanon 20. 2508 Huntington ... 5. * 5430 Fowler 10. * 5526 Lewisville 10. 7758 Marion 10. IOWA 1726 Ottumwa ... 100. 7114 Colfax 20. KENTUCKY *14039 Stanford 10. MAINE 5947 Phillips 20. MARYLAND * 747 New Windsor 20. MASSACHUSETTS 9561 Chelsea 20. 11388 Southbridge .. 5. MICHIGAN * 4413 Reed City 10. 9020 Boyne 10. 9556 Negaunee 20. *13857 Hastings 20. MINNESOTA 5423 Fairmont 5 MISSOURI 1712 California ... 20. 2432 Memphis .... 20. 4083 Brunswick ... 20. 4160 Stewartsville . 5. 4939 Saint Joseph . 5. * 5036 West Plains .. 10. 7205 Albany 10. 13268 Unionville 20. *13504 Mount Vernon 20. NEBRASKA Page 336 Whole No. 90 11f11. 1011fil_ BROK HOTE VARIETIES B Y . . .M. OWEN WARNS NLG SUPPLEMENT IX Additions to the 1929-1935 National Bank Note issues previously reported In this Supplement are listed 147 notes that have surfaced and been reported by Society members since publication of Supplement VIII in Paper Money, Vol. XIX, Whole No. 87, pages 146-147. In this current listing we find 38 notes from bank charters being reported for the first time; these are indicated by an asterisk placed to the left of the charter number. An updated UNREPORTED CHARTER NUMBERS TABLE is now being compiled. This listing will show by state the remaining charters that went unreported in the original 1970 listing together with those still unreported in the subsequent nine Supplements that have appeared in Paper Money over the past decade, 1971 through 1980. COLLABORATORS R. J. Balbaton, Douglas Ball, Frank Bennett, Charles G. Colver, Charles A. Dean, Keith Finley, Dennis Forgue, C. E. Hillard, John T. Hickman, Peter Huntoon, Curtis Iversen, Warren Jackson, Don C. Kelly, Joe Kinney, Lyn Knight, Kurt R. Krueger, Donald Mark, Ken McCannel, Allen & Penny Mincho, David Moore, Dean Oakes, Vernon Oswald, Gary W. Potter, H. F. Price, Edwin A. Richt, Fred Sweeney, Steve Tebo, Frank R. Trask, and Frank Verzellesi. ALABAMA 7210 Ventura 20. 7424 Headland .... 10. * 9765 Crows Landing *10377 Fayette 10. 5 *12455 Auburn 5 10387 McFarland .. 20. 12572 Walnut Park. 20. COLORADO 3345 Auburn 5 *14021 Boulder 50. KANSAS 3242 Howard 4284 Junction City 10. 10. 3392 Wayne 5 * 4791 Pender 5 8685 Walthill 5 CONNECTICUT 6672 Lincoln 20. 735 Stonington .. 20. * 9595 Fowler 20. NEW HAMPSHIRE 1093 Ansonia 20. *11816 Valley Falls .. 5. 1242 East Jaffey 10. ARKANSAS *11830 Hartford 5 12813 Eudora 5 *13280 McGhee 5 *13534 Ashdown 5 14056 Pine Bluff ... 10. CALIFORNIA 3499 Pasadena 5 Paper Money. NEW JERSEY 1188 Morristown 10. 2343 Mount Holly 20. 4272 Paterson .... 100. 8779 Milford 5 9833 Blairstown ... 5. 13540 Linden 20. NEW YORK 5528 Potsdam 10. 9178 Mineola 10. *10546 Marion 10. *12496 Narrowsburg 10. 1297 Franklin Sq.... 5. 13234 Bellerose 20. NORTH CAROLINA 8772 Ashville 20. NORTH DAKOTA * 6220 Courtenay ... 10. OHIO 237 Bryan 100. PENNSYLVANIA 291 Pittsburgh ... 10 2308 Lehighton ... 10. 2337 Towanda .... 20. 4548 Catawissa .... 5. 4625 McKeesport .. 10. 4915 Athens 20. * 5130 Ford City ...100. 5495 Roscoe 20. 5496 Milford 10. 5601 Halifax 20. 6220 Everett 20. 6452 Connellsville 10. 6507 Hays 5 6531 Lehighton .... 5. 6695 Hautzdale 20. 6739 Summerville 100. 7522 Philadelphia . 20. 7769 McClure 20. 8913 Bernville 20. 11257 Burnham 20. 12159 Nescopeck 10. *12192 Center Hall 20. *12573 Philadelphia 10. OKLAHOMA *12975 Fogelsville ... 20. 7892 Pauls Valley . 20. *13084 New Kesingston Long Elusive Charter 35 Found The Fishkill National Bank of Beacon, N. Y. Charter 35. The original bank title was The First National Bank of Fishkill Landing, N. Y when established in 1863. The bank title was changed 51 years later on May 6, 1914. The surfacing of a charter 35 small size National Bank Note in the September 4-6, 1980 currency auction of NASCA signalled the end of the long search for the missing charter in the select group of the 41 banks of the first one hundred charters of 1863 that survived to issue 1929-1935 National Bank Notes. The`bank when chartered in 1863 was capitalized at $100,000. The initial bank officers were John T. Smith, president; Robert J. Haigin, vice-president; arid Milton E. Curtis, cashier. John T. Smith also became president of the mechanics Savings Bank of Fishkill. Landing when it was established in 1866. Page 337 10. 13794 Derry 10. *13846 Mercer 5 13381 Blossburg 10. *13980 Conneaut Lake 20. SOUTH CAROLINA * 9941 Fort Mill .... 20. 13720 Columbia .... 20. SOUTH DAKOTA * 6073 Britton 10. VIRGINIA 10834 Independence 10. WASHINGTON 5751 Ritzville ...... WEST VIRGINIA 9766 Romney 5 TENNESSEE 9913 Kenova 20. 3873 Knoxville 5. 10589 Beckley 10. 5545 Gallatin 5 7275 LaFollette 10. WISCONSIN *13482 Greeneville 5. 1086 Waukesha ... 50. 13635 Johnson City 10. 3609 Baraboo 4424 Waupaca 20. 5 13948 Fayetteville .. 20. 5143 Antigo 10. 5469 Shawano 5 TEXAS 6273 Clintonville ... 5. * 4093 Bastrop 10. * 9522 Fennimore ... 20. 5704 Rogers 10. 10330 Wisconsin * 8312 Brownwood 10. Rapids 8674 Marfa 20. *10620 Oregon 20. 9639 Forney 20. 12351 Kenosha 5. 10956 Schwentner .. 10. *14063 Waupaca 5 The small town of Fishkill, N. Y., population 900, is located some seven miles east of the Hudson River boat landing for which it was named. The 41 Banks of the First 100 Charters of 1863 That Survived To Issue 1929-1935 National Bank Notes. 1.Philadelphia, Pa. $5*, $10*, $20* 2.New Haven, Ct. $5*, $10*, $20* 3. Youngstown, Ohio $5*, $10*, 820* 4. Stamford, Ct. $5*, $10*, $20* 5. Fremont, Ohio $5*, $10*, $20* 11.Fort Wayne, Ind. $5*, $10*, $20* 12.Erie, Pa. $10*, $20* 15. Davenport, Iowa $10*, $20*, $50*, $100* 17.Richmond, Ind. $5* 18.Iowa City, Iowa $10*, $20* 19. Portsmouth, N.H. $10*, $20* 24.Cincinnati, Ohio $5*, $10*, $20*, $50*, $100* 25. Marietta, Pa. $5*, $10* 29.New York, N. Y. $5*, $10*, $20* 30. Wilkes Barre, Pa. $10*, $20* 31. Huntington, Pa. $5*, $10*, $20* 32. Cincinnati, Ohio $10*, $20* 35. Beacon, N.Y. $5*, $10 , $20 36, Findlay, Ohio $10*, $20*, $50*, $100* 38.Aurora, Ill. $10*, $20* 39.Towanda, Pa. $5*, $10*, $20* 42.Strassburg, Pa. $10*, $20* 43.Salem, Ohio $10*, $20* 46.McConnellsville, Ohio $10*, $20* 47.Terre Haute, Ind. $5*, $10*, $20* 51. Johnstown, Pa. $10*, $20* 56. Hamilton, Ohio $5 , $10*, $20* 60. Newville, Pa. $5*, $10*, $20* 64. Milwaukee, Wis. $5*, $10*, $20* 68. Portsmouth, Ohio $5*, $10*, $20* 70. Cambridge City, Ind. $50*, $100 13935 West 20. VERMONT 3080 Manchester Center 20. Page 338 Whole No. 90 T9IIPTIE DOLLUM , ,„ 76. Canton, Ohio 77. Scranton, Pa. 86. Germantown, Ohio 90. Upper Sandusky, Ohio 91. Toledo, Ohio 94. Port Jervis, N. Y. 95. Hudson, Wis 98. Ironton, Ohio 99. Moravia, N.Y. 100. Cadiz, Ohio (*) Notes reported and recorded. $5*, $5*, $5*, $5*, $10*, $10*, $10*, $10 , $10*, $10*, $10*, $10*, $10*, $10*, $20* $20* $20* $20* $20* $20*, $20* $20* $20* $20* $50*, $100* Additional 1929-1935 Notes Issued By The 41 Surviving Banks of the First 100 Charters Granted in 1863 DIE 1{RS1 tiAT1QEA1 UM OF PRILADELPHIA ItIrltiffitYLVANIA TEN 1114 T14.1.104 A301111 Designated as charter 1, The First National Bank of Philadelphia, Pa. did not open for business until July 11, 1863. The distinction of being the first National Bank to open its doors for business rests with The First National Bank of Davenport, Ia. charter 15, when it opened on June 29, 1863. The unusual note of The First National Bank of Philadelphia shown above has 12 figure on its face. "Trust Company" was added to the bank's title, July 2, 1928. Issued $5, 10, 20 notes, all of which have been duly recorded. Title changed from Dehli, NY. to Port Jervis, May 5, 1870. 15 flSI 100011 PM 0 I HONI Succeeded by #2703, retook its original charter #5, Feb. 23, 1910. Succeeded by #2739, retook its original charter 51, June 2, 1911. 10 F 1 101 101111110 30! PORTS001: I evo.s.Arer 1M,141,,M, Succeeded by #2672, retook its original charter 19, Aug. 8, 1910. 11€ DV 1111tt - -MI AIIIIINISt Callfift 1* FIND! Al to ..... MTV 1001...{^ "American" added in 1923 and in 19,30 it became the FNB & Tr. Co. Issued only $50 and $ 100 notes. The $100 note remains unreported. My appreciation to - Herbert L. Melnick, Martin Gengerke and Dave Moore REFERENCES Included are references from the following list of publications consulted: NASCA Currency Sale Catalog, Sept. 4-6, 1980. The Bankers Register, by Kountze Brothers. The National Bank Note Issues of 1929-1935, by M. Owen Warns, Peter Huntoon, and Louis Van Belkum. Paper Money Page 339 A Contrasting Pair: Two North Dakota Scrip Auctions Local business promotions seem to have periods of popularity. Dollar days, crazy days, and sidewalk sales come and go, and are soon forgotten. A trade booster which was popular throughout the 1930s was the scrip auction. The name and details were different in every community, but they had one thing in common: a specially-printed medium of exchange (scrip) good only for bidding at a special auction. The scrip, similar in purpose to trading stamps or cigarette coupons, promised the holder a chance to obtain needed merchandise free, with the added excitement of an auction. The project had several purposes: to stimulate current business, give customers an incentive to pay past due bills, and to provide the opportunity for people to purchase items they might not be able to obtain otherwise. Because the scrip became absolutely worthless at the close of the sale, few examples remain as evidence of their use. The few specimens which have survived are often the only clue to the sales where scrip was used. By Forrest W. Daniel Many other scrip auctions are recorded in local newspaper files where they will remain forever hidden unless found by chance. As a result, few issues of auction scrip have been recorded. Scrip is defined as "any of various documents used as evidence that the holder or bearer is entitled to receive something either absolutely or conditionally." Usually the term is applied to documents used as a substitute for legal money during times of monetary distress. Many communities used scrip during the National Bank Holiday in March, 1933, when banks were forbidden to supply coins and currency. So whether the auction scrip, as used in business promotions, can be considered "legitimate" scrip is a matter of interpretation. Since the scrip was receivable, conditionally, for goods, it seems to have some claim to legitimacy. Among numismatists, the classification of auction scrip is a matter of opinion, often depending upon whether the collector owns a specimen or not. Page 340 Usually sponsored by local businessmen's associations, the scrip auctions showed great variation in scope. The size of the community, the number of participants, the type of merchandise, the method of distributing the scrip, and the length of the promotion period all had an effect on the success of the sale. Two North Dakota scrip auctions will serve as contrasting examples. A large-scale trade booster was sponsored by the Junior Association of Commerce in Bismarck, the state capital. By the time it was held in September, 1938, times were not prosperious, but they were much better than they had been five years earlier. Some of the items offered might have been considered luxury goods, a washing machine, portable sewing machine, and electric mixer, for example; but most were practical, useful items. It was an all-day affair. The event held in Carrington in April, 1933, is known only from newspaper publicity. The time was the depth of the depression and the goods donated for the sale were basic essentials: canned goods, a ton of coal, and automobile repairs among others. It was held after a matinee movie. The examples presented here may not be the extreme at either end of the scale, but it is likely most of the scrip auctions held throughout the nation during the 1930s fell somewhere between the two in scope. Bismarck's Million Buck Auction The "Million Buck Auction" held in Bismarck, North Dakota, on Saturday, September 17, 1938, was one of the larger scrip auctions. More than 5,000 persons bid on the merchandise and 1,770,000 Bucks were used in the bidding. It was an all-day celebration and wound up with a free dance in the evening. The Bismarck Junior Association of Commerce, sponsors of the promotion, made every effort to avoid criticisms made of similar auctions. Rather than ask for donations of items for sale, the JAC solicited specific cash donations from every business and professional man in the city. Sponsors received Bucks in proportion to their assessment, with additional Bucks available at a small charge. Merchants were asked to list goods available for sale to the JAC at a fixed price. The funds received were then used to purchase merchandise for the sale. The result was a balanced variety of top quality goods with items for every segment of the population. Many of the articles were selected with farming people in mind, but there were items for city folk, women and, children. The terns were purchased from Bismarck merchants as r ear as possible in proportion to their donations. R. B. Shepard, chairman of the general arrangements committee, explained that the Buck Auction was not simply a one-day affair, but it was designed to stimulate business and the payment of bills over a period of seven weeks, increase good will, and furnish entertainment for patrons and patients of Bismarck firms. Donations were received and publicity posters and Buck scrip were Whole No. 90 distributed to business places before the opening day of the promotion, August 1. To insure the widest possible distribution of Auction Bucks, they were computed one Buck given for each one cent of sales tax paid rather than the often-used one Buck for one dollar of sales. The purchaser of an ice cream soda was entitled to receive one Auction Buck since one cent sales tax was payable on a 15-cent purchase. Bucks were available for small purchases. Persons paying bills owing before July 1 were to receive double the number of Bucks for those payments. Patrons were asked to be sure they received Bucks from merchants when they paid their bills. Owners of service businesses, which did not collect sales tax, and professional people, doctors and lawyers, distributed Auction Bucks at the same rate as retail establishments. Bucks were printed in denominations of 1, 5,10 and 20 each on a different color paper. One Buck scrip, one example presently known, was printed on goldenrod paper and is 21/2 x 5 inches in size. The Bucks were printed by one of the print shops in Bismarck, but which one of several cannot be determined. As auction day approached Bismarck newspapers reported final preparations for the sale. A number of businessmen actively promoted the distribution of Bucks. An advertisement of A. W. Lucas and Co. had the line, "Bucks Are Given Out Here Without the Asking"; and Klein Lumber Co. listed "Million Buck Auction Specials" at 10 per cent off. A. C. Isaminger, operator of a filling station, distributed more Bucks than he planned; a newspaper reported "a sneak thief had escaped with his supply of the precious paper." Isaminger said he had stamped his name on the back of each Buck so it was possible the stolen Bucks could be traced. Another theft of Bucks was mentioned without details. Merchandise purchased for the sale was displayed at Buck Auction headquarters on Main Street, and it was reported that more than 2,000 persons were counted viewing the goods the Saturday before the sale. More than $1,000 worth of merchandise was purchased for the sale by the Junior Association of Commerce. The items included: farm type power washing machine, portable electric sewing machine, electric mangle, push- button automobile radio, government approved mail box, farm type console radio, kerosene house heater. Butter churn, dairy pails, cream cans, pitch forks, horse collars, axes, shovels, lanterns, wash tubs, laundry tubs. Pressure cooker, electric mixer, dishes, canned goods, ironing board, cotton and woolen blankets, baking dishes. Clocks, pocket and wrist watches, miniature radios, 12 gauge shot gun, .22 rifle, footballs, basketball, baseballs, baseball gloves, furniture, Life Guard inner tubes. For the children: toy wagons, kiddie kar, tricycle, bicycle, scooters and sleds. The merchandise was chosen for its utility and quality, the type of goods people needed and wanted. That seemed to be confirmed when a wrist watch was Paper Money reported stolen from the front window of Buck Auction headquarters. Chairman Shepard said the watch was the only item lost or stolen. As auction day approached it became evident the event would be larger than anticipated. Plans to hold the auction at the intersection of Broadway and Fourth Street were changed. The site was moved a half block west to the alley next to the post office; in that position, only one block off Broadway would have to be closed to traffic for the entire day. To handle the crowd, 15 Boy Scouts were enlisted to patrol roped-off lanes dividing the crowd. The lanes permitted successful bidders to approach the auctioneer's stand to pay for and receive their goods. The quantity of Bucks distributed in Bismarck was very great, and the chore of counting "the millions of pieces of fake currency in circulation" threatened to be a time-consuming one for the sale clerks. Holders of large amounts of Auction Bucks were urged to have them changed to larger denominations at headquarters before the day of the sale. Between auction sessions large denomination Bucks were available at the auction stage. Free Auction Bucks were made available to out-of- town visitors the day of the sale. The first 100 who registered at auction headquarters between 9 and 10 a.m. received 100 Auction Bucks. Free Bucks were also given to the family coming from the greatest distance, for the oldest car, and a number of other categories. More than 450 people from all parts of North Dakota registered the morning of the sale. Several states were represented; the person from the greatest distance registered from Brooklyn, New York. All the publicity stated that only Auction Bucks could be used in the bidding, no United States currency allowed. Construction of the auction platform began early Saturday morning and JAC members carried the 500- plus items in the sale from auction headquarters to the platform. Three sale sessions were scheduled at 10:30 a.m., 1:30 and 4:30 p.m. to allow different crowds to bid. Auctioneer was J. M. Thompson, well-known farmer and legislator. The first session of the sale was completed when the day's issue of The Bismarck Tribune went to press and some of the early prices were reported on the front page: Prices sky-rocketed to an alltime high in the wake of spirit- ed bidding at Bismarck's long-awaited Buck Auction Satur- day. Never in the memory of the oldest resident has a sheepskin coat cost its purchaser 4,000 bucks, but that was what one went to when offered for sale Saturday. Nor could anyone recall paying as much as 2,300 bucks for a baby doll, but one fond mother did exactly that Saturday. A sack of flour brought the unprecedented sum of 1,900 bucks and a set of automobile horns sold for 3,200. A man paid 3,600 bucks for an Indian blanket. A table lamp sold for 3,500 bucks and a gallon jar of coffee for 3,000.... Page 341 The crowd was enthusiastic, the bidding spirited and the temperature in the 70's. The Buck Auction was credited with drawing the largest crowd ever to attend a trade event in Bismarck. Merchants reported an increase in business during the seven weeks leading up to the Buck Auction, which served to offset the state- wide decline from the previous year. It was expected that the high Buck bidding in the morning session would reduce the number in circulation and that prices would be lower in the afternoon sales. That was not the case, however; prices remained high with bidders pooling their Bucks in the bidding. Many individual bidders were frozen out. When the auctioneer attempted to sell some of the goods at a low bid, the crowd protested and would not permit it. Some potential bidders, foreseeing that prices would not come down to their bidding range, gave their Bucks to bystanders and left. That added to the supply of Bucks and high prices. There were also cases where Bucks were purchased from other holders. The auctioneer was able to restrict bidding on some of the items to farmers so that nearly half of the articles went to rural homes. Favored bidders at the auction, of course, were persons who, during the seven weeks of promotion, had purchased automobiles, farm implements, or other expensive merchandise for cash. While hopes that the big-bidders would be gone well before the end of the auction did not materialize, there was no disappointment at the quality of the merchandise offered, only that there was not enough of it. Radios, washing machines, mangles, and merchandise used almost exclusively on the farm were the most popular items. More than 5,000 people attended the bidding and spent a total of 1,770,000 Bucks on more than 500 pieces of merchandise, according to the auctioneer. To all but the disappointed bidders, the day was a great success. And it was topped off by a free dance in the World War Memorial Building, Guy Fudgy's orchestry playing to an overflow crowd. Carrington's Free Scrip Auction Twenty-four businessmen in Carrington, North Dakota, joined to sponsor a Free Auction on Thursday, April 27, 1933. The promotion was announced in the local newspaper, The Foster County Independent, on March 30, barely two weeks after redemption of the Carrington Scrip issued during the National Bank Holiday began. ("Bank Holiday Scrip of Carrington, North Dakota," Paper Money, Vol. 5, No. 1, 1966.) Carrington residents had had the experience of using scrip during an actual shortage of currency, and less than two months later they used "Free Auction Money" to purchase goods in a sales promotion. Page 342 Carrington's scrip auction is known only from newspaper publicity and advertisements. It was unusual because it was a mid-week sale. No specimen of the scrip is known to exist. Participating merchants gave out Auction Money at the rate of one Free Auction Dollar for every 25-cent purchase in their establishments. The auction was scheduled in the Grand Theatre after a special 20-cent 2:30 matinee. The full-page advertisement which announced the "Mammoth Free Auction" included coupons from participating merchants. Each coupon listed the merchandise contributed by the sponsor. There was a line for a signature and the sentence, "Anyone over 16 years of age can exchange this ad for One Auction Dollar at this place of business by signing their name thereto". By redeeming the coupons a bidder could receive up to 24 Auction Dollars before making any purchases. The newspaper said most members of the audience would carry a roll of $50 to $100 or more in auction money. There were no luxury goods in Carrington's auction, only practical items everyone could use. The list contained: J. C. Penney Co.-1 Indian Design Bnanket, 984; 1 pair Hose, 694; 1 Man's Dress Cap, 984. The Foster County Independent—One box Printed Sta- tionery, your name. Live Stock, Meat & Produce Co.-2 boxes Assorted Mer- chandise, value $1.50 each. Bridgem an-Russell Company-5 Pounds Butter. Carrington Ice & Fuel Company—Option, 1 ton Lignite or 1-5001b. Ice (Coupon) Book. A. J. Smith & Co.-1 all-copper No. 9 Wash Boiler, value $2.95. Holiday-Martens Grocery-3 large cans Tomatoes; 1 10-lb. bag Sugar; 1 No. 10 can Blackberries, 1 10-lb. box Macaroni. S & L Dept. Store— 1 $1.49 Bed Spread; 1 $1 Ladies Wash Dress; 1 49-1b. sack S. & L. Flour. North American Creameries, Inc.-1 gallon Ice Cream. Comus Billiard Parlor-1 Pipe, 1 1-lb. can Tobacco. Gamble Stores, Inc.-1 pair Curtains for Fort Roadster, $25..; 1 gallon Pure Penn Oil, 504; 4 Pedal Pants for Ford or Chevrolet, 4 cars 354 each. Kunkel Motor Co.— 3 sets $1.50 Reflect-O-Lite Shades; 1 $1.00 Alomite Lubricating Job; 2 30e cans Ford Tire Patches; 1 75C Inside Windshield Frost Wiper; 1 1-lb. can Mobile Hard Oil. Whole No. 90 Mary-Hazel Shop—$3.00 in Trade. Emmett Carroll's Service Garage-1 Valve Grinding Job, any make car. Hotel Cafe-1 Meal Ticket. Red Owl Stores, Inc.-1 49-lb. sack Red Owl Flour; 1 lb. of Golden Cup Coffee; 1 2-lb. jar Peanut Butter; 2 cans fancy Sliced Peaches. Boley Hardware & Furniture Co.-1 $1 Serving Tray; 1 $3 Electric Lamp; 1 894 2-qt. Ivory Percolator. Beck's Red & White Grocary—$2.00 in Trade. Carrington Drug Company-1 lb. can Velvet; 1 Camera. 0. B. Smebak, Chiropractor-1 Free Treatment. Grand Theatre—Six Show Tickets for Any Show. Kelley's U & I Store-1 lb. Nash Coffee; 1 can Libby's fancy Peaches; 1 can Libby's fancy Apricots; 1 can Libby's fancy Pears. Carrington Radiator Shop— $3.00 in Trade. E. E. Wenger, Harness & Shoe Shop— 1 pair Shoes Half- soled. The movie selected to precede the Free Auction was chosen to put the audience in a good mood. "The Unexpected Father," featuring Slim Summerville and Zasu Pitts, was described as a comedy scream. Only the 65 articles donated by the 24 sponsoring merchants were sold, with Auction Money the only currency. Auctioneer J. W. Wampler called the sale and Don L. Tracy, theatre manager, was clerk. The contrast between these auctions was more than just the size of the crowds and the amount of scrip distributed. The great difference was in the times in which they were held. Carrington's auction was a cry of desperation for business at the bottom of the economic trough, while Bismarck's came on an upward current, still far from the top but looking toward better days. Scrip auctions were a product of their time and the number declined rapidly with the return of prosperity and the advent of war-time shortages. SOURCES: The Bismarck Capital, Bismarck, North Dakota The Bismarck Tribune, Bismarck, North Dakota The Foster County Independent, Carrington, North Dakota Burgett, Maurice M., "Highland, Illinois Challenges the De- pression," Paper Money, Vol. 11, No. 3 1972. Curto, James J., Michigan Depression Scrip of the 1930's, 1963. Reprinted from "The Numismatist." Paper Money Page 343 Beauty THE PAPER COLUMN by Peter Huntoon Everyone Loves A Red Seal, Even My Wife! The combinations of color on the faces of Red Seals are totally pleasing. The red seal and charter numbers seem to complement the blue serials, and are perfectly framed by their spacious white backgrounds. Red Seals are even attractive in lower grades. A fine, or even very good, specimen looks nice as long as it still has signatures. The same cannot be said for Second Charter notes. Take a Value Back or even a Brown Back, for example. They look terrible in low grades and pale next to comparable Red Seals. That is just the way of things. Territorial Red Seals No series of National Bank Notes has so recently captivated the imagination and support of the numismatic fraternity as has the Series of 1902 Red Seals. The foundations for their popularity are (1) rarity, (2) beauty, and (3) all areas that issued them are represented except Hawaii. Several series traditionally have attracted unusual support among serious National Bank Note collectors. Included are First Charter Notes popular for their ornate designs and the seals on their backs, and Brown Backs popular for their color and seals on the backs. By far the most popular today are the Red Seals. Rarity Rarity is the byword for Red Seals. Many areas are represented by less than a handful of surviving specimens. Take the Territory of Arizona for example. Four Red Seals are currently known from that dusty place. Go north to Utah and you are talking about five recorded specimens. Same for Delaware. Wyoming Red Seals are rather common — there are 13 of them including four in one sheet. Try for a Red Seal from any deep south state and you will find rarity equal to the toughest western states. By a quirk of fate, Fairbanks, Alaska Red Seals are common. Several sheets of them were saved, and a few have since been cut to provide beautiful specimens for anyone who wants one. Puerto Rico is not particularly rare, there are 11 of them, but price one! Several areas had territorial or district status when the Red Seals were issued. Included were Alaska (District), Arizona, Hawaii, Indiana, New Mexico, Oklahoma, and Puerto Rico. A total of 818,686 Red Seals were placed in circulation by 266 banks in these areas as shown on Table 1. Table 2 shows the issuances from Hawaii and Puerto Rico, which are the two smallest in the group. None of the Hawaii Red Seai2 has turned up, although a remarkable 11 Puerto Rico's are known. The latter is a survival rate many times the national average. Table 3 shows the smallest issuances by sheet combination in the territorial group, and will give you an appreciation of the odds of obtaining specimens from the scarcer territorial banks. The amazing thing is that two notes are known on the Sandoval National Bank of Nogales (6591) out of the 524 notes issued. This survival rate is also many times the average for the series. By comparison, out of the total Arizona Red Seal issue of 53,744 notes, only four have turned up so far, two being the notes from Nogales. That gives an average survival rate for Arizona that is now one per 13,000 notes issued. Red Seals from the Indian and Oklahoma territories are rather plentiful because so many were issued. However, on a bank by bank basis, each is a rarity because most banks are not represented, and those that are, are usually represented by only one or maybe two notes. Oklahoma territorial Red Seals are somewhat scarcer than those from Indian Territory as indicated by the figures on Table 1. For any collection to be complete, it must be possible to define completeness in some logical fashion. Red Seals exist for all the states and territories that were in existence during the Red Seal era except Hawaii, so you can theoretically get one from all locations but one. This makes a logical set, so several serious collectors are trying. Of course, none will ever succeed! Regional collectors compete for Red Seals as type notes from their areas, thus making the chase just that much harder for the fellows going after the full state-territory set. Oklahoma State Red Seals Highly prized are Red Seal Oklahoma and Indian territorials, but what makes the story even more interesting is the fact that these areas joined to form the state of Oklahoma on November 16, 1907, just a few months before the end of the Red Seal era. The result — dozens of Oklahoma banks issued state Red Seals, all in Page 344 ridiculously small numbers as shown on Table 4. Only 114,440 such notes reached circulation. Oklahoma state Red Seals have proven to be great rarities with only a half-dozen or so known to date. With dozens of Indian and Oklahoma territorials around, you can see why the Oklahoma collectors focus on finding more state Red Seals. If the figures in Table 3 look small for individual issues, you should see the data for Oklahoma state Red Seals. There were 37 issuances of 100 or fewer sheets. The best statistics come from the Red Seal circulations of the First National Bank of Wewoka (6254). This bank used 100 sheets of the 5-5-5-5 combination. However, its 10-10-10-20 issuance consisted of exactly one sheet! These compare to the Indian territorial issue from the Wewoka bank of 350 5-5-5-5 and 280 10-10-10-20 Red Seal sheets. The bank only issued Red Seals so you can try for any of them, state or territorial, knowing that you probably will never see a single specimen! Inventory Any number of collectors, and dealers, have asked me what I have in the way of Red Seals. You may be surprised to learn how few of them have been "squirrelled" away in my collection. Just for the record, I am showing herewith a photo of each of them. Those in the know advise that there are a couple of good ones in the bunch. For instance, you are looking at half the known Arizona supply. More Arizona's will show, of course, but they won't hurt the market. See Table 5 for a list of those illustrated and others I have handled in the past. Mistake Have I ever made a truly disastrous mistake involving a Red Seal? You bet! My story is a jewel. In 1967, before many of us knew the National Bank Note road map, I got involved in what I considered to be a big deal. I was making a trade with a prominent Tucson dealer/collector, now deceased, which totalled about $2,000. When the smoke cleared, he owed me $118. To settle the debt, he tossed two $100 bills before me. One was a $100 1882 Date Back on the First National Bank of Waco, Texas, charter 2189; the second a $100 1902 Red Seal on Florida. I think the Florida was Jacksonville (6888) but if my memory has failed me, the only other choice would be Tampa (3497). Only 4106 Florida Red Seal $100's were issued between these two banks. You know it, I picked up the Waco. Why? Because Texas was far more popular than Florida at the time, and besides I was taken by the older design. Whole No. 90 Yes, I still have the Waco note and would value it at about $600, maybe more. My guess is that the Florida $100 would bring about $12,000 if handled properly today. There is a moral to this story for new collectors reading this column. If you are going to make a blunder, make such a big one that you will forever have a great story! Table 1. Total Red Seal issues by territorial or district banks. Location Number of Banks Number of Notes Alaska (Dist.) 1 12,240 Arizona 8 53,744 Hawaii 2 4,356 Indian 120 327,936 New Mexico 31 140,376 Oklahoma 103 268,740 Porto Rico 1 11,294 Totals 266 818,686 Table 2. Total Hawaii and Porto Rico Red Seal issues. Bank Sheet Comb nation Sheet Serials Hawaii Lahaina National Bank (8101) 10-10-10-20 1 - 240 Baldwin National Bank, Kahaina (8207) 5-5-5-5 1 - 465 10-10-10-20 1 - 384 Total 4356 notes Porto Rico First National Bank of Porto Rico, San Juan (6484) 10-10-10-20 1 - 2400 50-100 1 - 847 Total 11294 notes Table 3. The six smallest Red Seal territorial issues by sheet combination. Notice that two notes have shown from the Nogales bank, see Table 5. Bank Sheet Combination Sheet Serials First National Bank, Harrison, Oklahoma Terr. (6753) 50-100 1 - 42 First National Bank, Verden, Oklahoma Terr. (8759) 50-100 1 - 80 First National Bank, Tupelo, Indian Ten. (8609) 10-10-10-20 1 - 120 Sandoval National Bank, Nogales, Terr. of Arizona (6591) 10-10-10-20 1 - 131 Citizens National Bank, Lindsay, Indian Ten. (6171) 10-10-10-20 1 - 131 First National Bank, Cutter, Ten. of New Mexico (8662) 10-10-10-20 1 - 136 Table 4. The Red Seal issues from Oklahoma state. Sheet Combination Number of Banks Number of Sheets 5-5-5-5 7 1515 10-10-10-10 4 709 10-10-10-20 94 26211 50-100 2 350 Total 114,440 notes *obit** iEdISl47hFSLIPAM Paper Money Table 5. Red Seals that have come Huntoon's way. Denomination Bank Charter Serial Page 34,5 Condition 10 The Sandoval National Bank of Nogales. Territory of Arizona 6591 A500840-2-A xf-AU 20 The Globe National Bank, Glove, Territory of Arizona 8193 R18850-575-A fine 10 The First National Bank of Woodville, Indian Territory 7707 E997104-266-C vg-fine 20 The Citizens National Bank of Alamogordo, Territory of New Mexico 8315 R663342-18-A xf-AU 10 The Maiden Lane National Bank of New York, New York 7107 B942593-2111-A AU 10 The Utah National Bank of Ogden, Utah 2880 D29256-269-C fine 20 The Casper National Bank, Casper, Wyoming 6850 B147416-139-A fine 10 The First National Bank of Shoshoni, Wyoming 7978 K820768-399-D xf-AU Others owned in the past. 10 The Sandoval National Bank of Nogales, Territory of Arizona 6591 A500839-1-A of 20 The Grand Valley National Bank of Grand Junction, Colorado 6137 A871933-529-A vg 20 The Third National Bank of Greensburg, Indiana 2844 K641927-1686-A fine 5 The Mellon National Bank of Pittsburg, Pennsylvania 6301 A48121 AU Huntoon's Red Seals Page 346 Whole No. 90 INTERESTING NOTES 'BOUT INTERESTING NOTES ©1980 Roger H. Durand MINIATURE VIGNETTES Early Engravers From the time of the earliest banknotes around the turn of the 19th century, engravers have striven at their art, attempting to decorate their works with as elaborate vignettes as their skills can produce. The very early engravers, such as Reed, Amos Doolittle, Peter Maverick, and others of lesser prominence, created the complete note design. Their skills were not always equal to the task. For instance, although some were experts on letters or numerals, their crude early vignettes left much to be desired. The cows, fishes and other natural and symbolic devices were barely identifiable in some cases. These early vignettes did perform one important service and that was to make the notes more difficult to counterfeit. However, the racketeers soon became as proficient in their work as the original engravers were and those early vignettes were no longer effective in stopping counterfeiting. As time passed, the engravers improved their skills, so that by the early 19th century their work was vastly improved. The first plates were done entirely by hand, but later machinery played a large role in the creation of bank note printing surfaces. New Techniques in Engraving Shortly after the turn of the century, a New Englander named Jacob Perkins invented a method for constructing bank note plates out of several small parts enclosed in a frame and bolted together so they would not move during the printing process. This Perkins process became very popular, with several banks opting for it. The earliest notes had no vignettes at all, just the necessary printing and denomination numerals. Of course, these notes were readily counterfeited. As time went on, Perkins did add crude vignettes to the notes' designs but still the counterfeiters were not foiled. Some of these later Perkins process notes had rather elaborate vignettes covering as much as a third of the face design. Eventually this system became obsolete, the craftsmen in the engraving industry once again flourished, and their products truly became works of art. In some cases, numerals were made by engraving machines following geometric designs, with the balance of the plates hand engraved. Eventually the plates were again completely done by hand but not by one artist only. The Art on Bank Notes About the time that the Durand brothers, Asher and Cyrus, came on the scene, bank note engraving had become an art of specialists. Several engravers combined their talents to create notes that were certainly beautiful, to say the least. One engraver would specialize in lettering, another in numerals, and still another in vignettes. The results of their combined talents were notes that were comparatively difficult to counterfeit. With the exception of a few men like W. L. Ormsby, who engraved such lavish vignettes that they covered the entire note in some cases with numerals and lettering overlaid the main pictorial design, bank note engravers worked as teams and formed companies with the different engravers as partners. Some vignette engravers were vain, as great artists become, and actually signed the vignette on the note. The lesser engravers were reduced to the menial task of producing background, borders and other inconsequential parts of the designs. The small vignettes used on several different places on notes as fill in the overall design were probably done by these apprentice novice engravers. Most all the later bank notes had small Paper Money "miniature vignettes" between the signatures. A careful study of these small vignettes demonstrates that some of them had more interesting subjects than the main vignettes. Usually a glass is needed to appreciate the labor involved to create the fine work on such a small scale. When you stop to think that these vignettes were all handmade, it is a wonder that such fine detail was achieved. About the Note - Fishing for Three's Illustrated here is a proof of a $3 Rhode Island Central Bank of East Greenwich note which was probably engraved around 1817 by a man named Horton. It is unclear whether he worked alone. If indeed the note was done by one person, it would have been created at the end of the era of single engravers. Fishing for Three's The miniature vignette was untitled but it could well be entitled "Fishing for Three's". Close examination shows that behind the main figure of Ceres is a small boat with three fishermen fishing "threes" in numeral form out of the water. Probably the "three" that Ceres is touching with the scythe came from this source. The entire theme ties together the fishing and farming industries that predominated in Rhode Island at the time. The shadow on the two signature spaces was caused by the bleeding of the numeral dies from the attached note on the sheet when it was folded over. It is not part of the note design. No signed notes are known from this series. To my knowledge, this note is unique. Suggested References Philatelic and numismatic literature is replete with references to the art and history of bank note engraving. Readers are referred to the entire 37-year run of The Essay-Proof Journal for a varied fare of biographies, business histories, and technical information. To a lesser extent, Paper Money has printed a variety of articles on similar themes, especially in the pre-1976 issues. For more detail on the life and work of Jacob Perkins, see Jacob Perkins, His Inventions, His Times & His Contemporaries, by G. & D. Bathe, published by the Historical Society of Pennsylvania in 1943. The Story of The American Bank Note Company, the corporation's own publication by William H. Griffiths which appeared in 1959, is also useful. Page 347 "A Half Eagle Note??" Corrections to Durand's "Interest- ing Notes", May/June 1980 In PM No. 87. page 152, the make-up artist inadvertently omitted the article title "A Half Eagle Note??". This was a serious error because it made comprehension of the text difficult. Readers are asked to add this title to their magazine. Richard Kelly's Notes From Over Here! At the Movies Looking for a new collecting theme? A British film editor's collection may hold the answer. One album in his collection is labeled Casablanca, another Dr. Zhivago, and still another Gone With the Wind; and as a private joke, he has labeled an empty page Gold Diggers of 1933. The idea behind the collection is strikingly different and yet surprisingly simple. Consider, for example, the classic World War II film Casablanca. Rick (Humphrey Bogart) leaves Paris for Marseille just as the German army is about to move into the city. From there, like the other refugees in the film, he crossed the Mediterranean, probably to Oran, and then traveled across the desert to Casablanca. In Casablanca he opens a casino, Rick's Place, in which most of the film's action takes place. The "Casablanca album" contains notes, mostly dated, which Rick might have used in the city or on his way to it. Included, too, are Free French francs, German occupation marks, forged British notes (Operation Bernhard!), in fact, any note that might have been used by a character in the film. The possibilities of this kind of collecting are practically endless, for we all have our favorite films, books, and plays. Imagine the challenge of Jules Verne's Around the World in Eighty Days or even Mark Twain's Innocents Abroad. With books such as these there is literally a world of collecting to be done. In Verne's book, the ever-punctual Englishman Phileas Fogg, Esq., has bet that he can travel the globe in exactly eighty days, and he sets off from London with "a goodly roll of Bank of England notes, which would pass wherever he might go." His route takes him to Brindisi, Suez, Bombay, Calcutta, Singapore, Hongkong, Yokahama, San Francisco, and so on, and so on, and we may suppose that the notes were spent, cashed, and exchanged in each of these places. The challenge to the collector of obtaining a note of the appropriate date from all of Fogg's stopovers is a very large challenge indeed, one that will take many more than Fogg's eighty days. Why a blank page for the Gold Diggers of 1933? The film editor answered by posing another question: "Who", he asked with a sly grin, "really had money then?" Page 348 Literature Review by Paul T Jung Please send literature for review to Paul T. Jung, 2809 Linden Lane, Silver Spring, MD 29010, or to the Editor. Aspen, Nelson Page. A History of Bermuda and Its Paper Money. Devon Pa.: Wm. T. Cooke Publishing Inc. 1980. 8vo, 120pp, illus in color and black & white. $85 (Available through paper money dealers.) Those who read the title of this book and expect a history of Bermuda will be disappointed. On the other hand, those who expect a history of its paper money issues will be absolutely delighted. So much for misleading titles. This is a professionally written, well researched work. Very little has appeared previously on the subject, so practically all of the information is new. After a brief two-page summary of Bermuda's history and geography, the work is divided into chapters on the sterling issues of George V, George VI and Elizabeth II, and the decimal issues of the Bermuda Government and the Bermuda Monetary Authority during the reign of Elizabeth II. Data is provided on dating, serial number ranges, signers and quantity printed. Several surprises await the reader who peruses this information carefully. Dr. Aspen's research leads him to conclude that the 1921 £1 note (Pick 1) does not exist. Additionally, records at the firm Thomas De La Rue indicate that a 2/6 note was planned in 1920 and a photograph of the intended design is presented. There has also been a 10/- 1937 note in blue reported and a similar note in brown is known as a specimen. (The usual issues were in green or red. In 1939, 1/- and 2/6 notes were printed in anticipa- tion of a specie shortage, but never issued. Specimens are illustrated in the book. "Aspen" numbers are given for the notes cross- referenced to the 1973 (2nd edition) Pick numbers. The 3rd edition of Pick (1980) renumbers the Bermuda entries and incorporates most of the discoveries discussed by Aspen except the two 1939 specimens and the 1957 £1 and £5 notes known both with and without security threads. The discussion of the latter (errors, really) is most interesting. Among the descriptive information provided by De La Rue for the decimal issues is the fact that the backs of these notes have invisible fluorescent characters. This is not discussed in the text. Most paper money collectors know about the use of this technique as a security measure, but no one wants to write about it. I know of at least two serious students of this topic (one of whom has already received all the data I had available on the subject). When will the initial, pioneer effort on this be Whole No. 90 published? Anyone out there want to try an article for Paper Money. At the end of the book are chapters on the subject of paper money in general with emphasis on printing, examination of notes, and preservation. A grading approach based on a 100 point system is presented. Average values are given for notes in four grades. Dr. Aspen is best known among numismatists as the founder and first president of the Currency Club of Chester County and the author of several articles on paper money and banking. He was a member of the U. S. Assay Commission in 1975. The book was printed at the author's expense and released in Bermuda on 18 May 1980. The selling price will probably place it beyond the reach of most collectors. Perhaps if it had been published by one of the better known numismatic publishers with already existing distribution systems the price would have been more affordable. Nonetheless, it is a nicely printed, beautifully illustrated work, loaded with information. WHIP New Edition of Malaysia Area Coin and Banknote Catalogue A review by Jerry Remick, S.P.M.C. No. 742 The third edition of The Standard Catalogue of Malaysia-Singapore-Brunei Coins and Paper Money 1981 by Steven Tan was released in July at $8.00 U. S. postpaid sea mail by International Stamp & Coin Agency. G.P.O. Box 2016, Kuala Lumpur 01-02, Malaysia. The 106-page catalogue is printed on 6 34" x 101/4" glossy paper and bound with a stiff paper cover. The catalogue covers the coins and banknotes issued by British North Borneo, Brunei, Malaya & British Borneo, Malaysia, Sarawak, Singapore and Straits Settlements. British trade dollars are also catalogued. Banknotes issued by the Japanese during the occupation of Malaya, Burma and Philippines; paper money issued by several estates and settlements in Malaya during the 19th century; Malaya Rubber Export Coupons; and Federated Malaya States War Loan Bond Q VA.111 0 REA S Paper Money Certificates and Coupons are also catalogued. The coins are catalogued by date and mint mark with valuations in Malaysia Ringgit for up to six grades of preservation from very good through proof. Mintage figures are given. A clear photo and the metal is included for each type coin. Proof only issues, cased proof sets, proof singles and unc. sets issued in wallets are listed and priced. Overdate varieties are catalogued for the British trade dollar series. Prices appear realistic for today's high-priced market. Banknotes are catalogued by the date of issue imprinted on the note and valued in up to five conditions of preservation from very good through uncirculated depending on the issue. Photographs are given for one or several type notes of each issue to identify the series. The author has assigned a catalogue number to each type note but includes the corresponding Pick number. The valuation of the various dates for each type note is of great use for the dealer and collector. The listing of paper money issued by several estates and settlements in several of the Malaya States during the 19th century as well as the lengthy listing of Rubber Export Coupons by date issued in various Malaya States from 1938-1942 are not in Albert Pick's "World Paper Money Catalogue". The coupons are catalogued by their "valid until" date with valuations for three grades of preservation from VF to unc. Steven Tan is one of Malaysia's foremost stamp, coin and banknote dealers. While some of his prices might be a bit high, the relative difference in the prices for the scarce and common dates is of great aid to all numismatists. This catalogue is now the standard reference on this series. Mystery Note Identified By L. Miles Raisig, Ph.D. The unidentified mystery note illustrated on page 218 of PM's July-August 1980 issue appears to be a piece of merchant's scrip issued during the hard times relating Page 349 to the War of 1812, intended to serve in the place of coins which had been driven temporarily out of circulation. The lack of printed agency, date, or place of issue, points to private issue; the provision of lines for the written insertion of this information would give the needed flexibility for quick issue by any commercial agency, any time, any place. The locale could have been anywhere in Mississippi, Alabama, Louisiana, or Florida; Natchez is my best, first choice, for Bettersworth notes that " the lean years from 1808 to 1815...smaller coins scarce that some business firms printed 'bit' notes for local use." (Bettersworth, John K., Mississippi: A History. Austin, Steck, 1959.) An exact identification might be found in Brough, Charles H., "History of Banking in Mississippi", Mississippi Historical Society Publications v.3, 1900, or by the pursuit of Boisecour and Hunly in Biographical and Historical Memoirs of Mississippi, Chicago, 1891, or other similar biographical reference. Failing any identification to this point, a photocopy and query addressed to the Reference Librarian, Judge George W. Armstrong Library, P.O. Box 1406, Natchez, Mississippi 39120, might yield useful information or suggestions. More Mystery Notes William J. Harrison found the two "notes" illustrated here at an antique show but is not so sure that they are authentic scrip because, for one thing, they are on "old" or antiqued paper. They were framed and marked "From Elias Brown's Store--Minersville, N.Y." (Bill has been unable to locate such a town in New York state.) Note that the "one" is inscribed "Merchant's Bank" and the "two", "Marine Bank." f?,ert., Z77 62 689 OANA). I :t; IANAJPIAINIOM 1528689 689 'z Page 3.50 Auction Action:: Stanley Gibbons "Collectors" Auctions, London Sale of June 11-13, 1980 (The following results represent, in the words of the auctioneer, "prices realized or prices at which lots were bought in, having failed to reach their reserve". All descriptions taken from auctioneer's catalog.) Est. Real. CHEQUES Great Britain—Francis Child Esq. & Company, Gold- smiths at Temple Barr: Drawn by John Hope on 24th June 1729 and reads: "Pray pay unto Mr. Robert Manning...". With scorched edges and a staple hole in the middle, payment recorded on the reverse. VG £98 70 Great Britain—Leicester: Collection of 11 items issued on Leicester Banks, ranging from a Bill of Exchange dated 23rd Dec. 1825 to unused cheques dated 19--. F-UNC £22 28 Tasmania—Bank of Van Diemans Land: Drawn at Hobart Town, 29th Sept. 1837 for the sum of 10 Pounds, 4 Shillings, Good F £18 20 U.S.A.—The Bank of America, New York: Drawn by Page & Bacon of California at their Banking House in St. Louis, Missouri on 28th March 1853; nice vignette of ,,three people in a rowing boat. VG-F £25 29 U.S.A.—Bank of Pennsylvania: Drawn at Philadel- phia, 29th, Oct. 1801. Cut-cancelled but complete. VF £40 34 U.S.A.—Merchants Bank, New York: Sheet of six un- used cheques, 180-, large counterfoil at left edge. The cheques are covered with "practice signatures" and are frayed at the edges. VG F £26 19 U.S.A.—Otsego County Bank, New York: Drawn by James Fenimore Cooper at Cooperstown, 7th Sept. 1837. VF £30 34 PRINTING PLATE Great Britain—Pontefract Bank: 1 Guinea, 17--, (G. 2307A) with a dent and edge knocks £195 NOTES China-Foreign Bank Japanese Occupation Note—Central Bank of the Re- public of China: 5 Dollars, undated, printed in brown on zig-zag wmk'd. paper, imprint in left border "Tokyo. Goshodo", two different serial numbers in red and black; several small holes. VG. £650 525 Martinique Banque de la Martinique: 500 Francs, issue of 1919 (Pick 14) with six pinholes, a soft centre-fold and slight gum traces on the obverse from two mounts, one at each end. A magnificent note. Near EF. £1,700 1,450 BONDS & STOCKS Canada Government Securities Province of Nova Scotia-4 1/2% Consolidated Stock: Bearer Bond for £1,000, 1927. Coat-of-Arms at top centre. Brown, with coupons. VF. £75 58 Whole No. 90 Peru Railways La Compania Nacionale del Ferrocarril Mineral de Pasco: Bearer Bond for 500 Soles, 1872. Vignette of train crossing bridge, cattle and miner. Blue, with coupons. VF £40 48 (See article on this bond on page 227, PM No. 88 ) E. A. Wright Notes Sold by NASCA Paper money printed by the E. A. Wright Bank Note Co., described in Fred Schwan's monograph printed by the BNR Press in 1978 and the subject of his illustrated lecture at SPMC's breakfast meeting at the 1980 Cincinnati ANA convention, was featured in NASCA's May 28, 1980 sale of the George Thomas collection. The prices realized for the following lots do not include the 5% buyer's surcharge, and the descriptions are taken from the sale catalog: FRENCH GUIANA 100 Francs. (P-13; Schwan-93b). N.D. 1942, Unc., but there is a half fold up from the center bottom which can not be seen and can scarcely be felt ($1,200-Up) 1,250 100 Francs, (Pick-13;1 Schwan-93a). Abt Very Fine, quarter folded both ways with staining on the back along the folds and on the face around the edges of the margins, hinged ($400-Up) 600 1000 Francs. (P-15; Schwan-95a). Fine-VF, but is per- vasively and moderately soiled and/or stained with a stamp mounting hinge on the left side. ($1,000- Up) 725 1000 Francs, (P-15; Schwan-95a). VG+G-VG. (Photo). With a fold split hole at the center, several corner pin- holes and soiling. The back is much more worn looking with heavier soiling, green ink stains and surface split- ting along the main quarter folds ($600-Up 900 GUADELOUPE 1000 Francs, (Pick-26A) Schwan-( 196a). Signatures printed, not autographed as in Schwan. AU, because of a center fold. ($2,000-Up) 3,000 MARTINIQUE Banque De Martinique. 1000 Francs. (P-20; Schwan- 214). VG-Fine/VG, the back being very much more worn than the face. There are quite a quantity of pin- holes at the left and there are hinges on sides. (1,200- Up) 625 Banque De La Martinique. 1000 Frs. (P-20). E.A. Wright Bank Note Co. product, series E2. Fine-VF, scattered staining. Rare. ($600-Up) 825 25 Francs. (Pick-17; Schwan-211b) Extremely Fine, with a moderate center fold and back hinge remnants (600-Up) 175 UNCONFIRMED NOTE 155 Schwan lists the note but notes that its existence was "uncon- firmed." The photo is provided so that that point may now be definitely cleared up. 411.- a.. •■•• 4„, 116' Sh" 41P. 46. 16. 416. 411.. a Paper Money Page 351 4 4 4 a 4 4 Handbook on U.S. Embossed Revenue a Stamped Paper Available (The following review of a philatelic handbook which should be of great value to syngraphists collecting notes, checks, bonds and other types of fiscal/monetary paper first appeared in The Bay Phil, newsletter of The Friends of the Western Philatelic Library, Inc. It is reprinted here courtesy of J. F. Hutton, editor.) FIRST FEDERAL ISSUE 1798-1801: U.S. a 4 EMBOSSED REVENUE STAMPED PAPER; by W. V. Combs; hardbound; 124 pg; comprehensively illustrated; published by and available from American Philatelic Society, P.O. Box 800, State College, PA 16801. This book is one of the Handbook Series published by the A.P.S., and it certainly reinforces the high quality of these publications. W.P.L. Friend Vince Combs has done a masterful job of researching and organizing pertinent information on a little-known (to most collectors) byway of philately. From Chapter I, Historical Background, to Appendix F, Bibliography, the handbook summarizes all that is presently known a bibliography, by the way, is rather skimpy—attesting about our nation's first documentary stamps. The to the rather skimpy supply of source material ona embossed revenue stamped paper. Whoever compiles a 4 future bibliography on the subject will now have a landmark addition to it. 6a In 1797, one young republic was having money problems, and Congress decided to improve the situation by levying a tax on documents. The various acts and details of the implementation are all presented. The dies from their original designs to the technical printing steps are carefully detailed and illustrated. Denominations, rates, quantities sold, etc. are fully covered. The types of documents are especially interesting, comprising a wide range from bank notes, bonds, insurance policies, inventories to "bottomry". (Bottomry is a kind of contract or mortgage whereby the owner of a ship puts it up as security against money loaned for a shipping operation.) Admiral Combs notes that no bottomry documents have yet been found with First Federal embossing. Chapter LX, on Usages, is loaded with details and illustrations on the subject. As the writer points out, the different ways and conditions of use were so varied that almost every document is unique. One factor stands out time and again: scarcity. Aside from their very age and fraility, such papers were of a type not often preserved. Consequently, examples are scarce. In some cases, where the record shows that a value existed, no example has yet been found. The market for this stamped paper is not very wide nor organized. Catalog listings have probably lagged far behind real value based on rarity. To give some useful scale to interested students, Admiral Combs uses a "frequency Index." To sum up: This book is a rich source of authoritative information for the relatively small group of collectors who find it fascinating to pursue revenue stamped paper. But beyond that, it is an irresistibly interesting slice of our history. a Barbara R. Mueller, NLG 4 a a 4 6 4 a 4 4 a a Page 352 Whole No. 90 Interest Hearin Notes Wendell I hope that this finds you all coping with the hustle and bustle of the holiday season! This time of the year is fortunately a rather quiet period as far as the hobby is concerned. This allows me an opportunity to wrap up the old year's events and prepare us to enter the new year with renewed vigor. SPMC activities at ANA were very well received and successful this year. Over 80 people attended our breakfast and heard a very interesting and informative talk by Fred Schwan on the E. A. Wright Bank Note Company. As you will note elsewhere in this issue, our annual awards for service, exhibiting, and literary efforts were also made. The breakfast wound up with the usual wild Tom Bain Raffle which I had the pleasure of calling this year. Thanks to the generosity of many donors, over a hundred prizes were awarded to lucky ticket holders. I particularly enjoy this tradition because it reminds us all that good fellowship can still be found in our hobby. During ANA, the Executive Board also met. Among the important transactions: —Five governors were elected to new three-year terms. Those winning election this year were: Del Beaudreau Dean Oakes Charles Colver Harry Wigington Roger H. Durand I'm sure that you join me in extending your best wishes to these folks who will be leading the Society for the next three years. Just over 550 ballots were cast. While this is a better turnout than recent years, it still means that 1800 of you didn't vote. Why not exercise your voting rights in next year's election? —The Society ended fiscal 1979-80 with a net gain of $7,079.30 thanks mainly to souvenir card sales. The Society's souvenir card program has become an important part of our financial strategy. In fiscal 1979- 80, souvenir cards were the second largest source of income behind membership dues. Recognizing the importance of advance planning, the Executive Board authorized J. Roy Pennell, Jr. to conclude the contract for next year's souvenir card with the American Bank Note Company. Details of the design, selling price, and other aspects will not be finalized or announced until early next year. By the way, if you have not ordered your 1980 souvenir card, time's awastin'! Very few cards, priced at $3.00 each postpaid, remain. Any remaining will be destroyed on December 15th. You may order the 1980 souvenir card from SPMC Souvenir Card, P. 0. Box 18888, San Antonio, Tx 78218. I anticipate that this year's card will be a sellout. —Membership in fiscal 1979-80 continued the pattern, established in recent years, of slow but steady growth. There was a net gain of approximately 50 members during the twelve months ended June 30, 1980. —Advertising rates on some size ads were raised, effective with the first issue of 1981. These increases were implemented to help offset our growing magazine costs. Even with the increase, our ad rates remain quite reasonable. More details regarding this increase are published elsewhere in this issue. Elsewhere at ANA, our membership table had one of its most successful runs ever. A record 31 new members were signed up and sales of the souvenir card and books were very strong. Over 400 of the souvenir cards were snapped. Operational Problems of SPMC This past year has found us breaking in a new set of all four officers and a new printer as well. With such a situation, some problems quite naturally developed which have taken some time to work out. If you've had trouble receiving your magazine or getting an address change to "stick", rest assured that we are aware of the problems and are working on getting them solved. In fact, if everything happens the way it's supposed to, we should have everything square again effective with this issue. We would like to collectively thank those of you who have had problems for your patience. That's about it for now—see you again in the next issue. Best wishes for the Holiday Season! STOP THIEF! RAN AWAY last Saturday night, between the hours of 11 and 12, from the brig Nancy, of Lynn, a sailor, by the name of Joseph Fenton, about 4 feet 11 inches high, has short dark hair, is round favoured, has lost one thumb nail, and is easily perceived by his tongue to be an Englishman. The said Joseph broke open a chest belonging to William Hockman of the said brig Nancy, and stole out of it 245 dollars in Bank Notes - among which were seven of 10 dollars and one of 100, of the United States Bank, two of 10 dollars of Potomack Bank, and a five dollar bill of a Boston Bank. Whoever will take up and secure said thief, so that the money may be recovered, shall receive Thirty Dollars Reward. William Hockman Lynn, May 10, 1808. The above is an old paid ad which is copied as printed in the Salem Gazette Friday, May 27, 1808, Salem Mass. Submitted by Charles Straub • LIBRARY . NOTES Paper Money Page 353 sEcitirrAity's‘ A. R. BEAUDREAU, Secretary EPORT P. 0. Box 3666 Cranston, R. I. 02910 As noted in President Wendell Wolka's column in this issue, unforseen operational problems caused by the turnover of all four constitutional officers of SPMC and the switch to a new printer have caused a temporary cessation of the publication of the regular Secretary's Reports of new members admited and address changes. We hope to resume the Reports in the next issue. Meanwhile, your cooperation and understanding in this matter are appreciated. WENDELL WOLKA, P.O. Box 366, Hinsdale, IL 60521. Regular Additions The Nuinismastist August, September, 1980 The Virginia Numismatist Volume 15, #5; Volume 15, #s 4 & 5 ANA Club Bulletin May/July 1980 Essay-Proof Journal Volume 37, #2 Spring, 1980 IBNS Journal Volume 19, #s 1 & 2 New Acquisitions: US 15 N5 Noll, James E., Index of U. S. Postal Notes In Collectors Hands 3rd edition, 13pp., 1980 Gift of Author This is the latest edition of Mr. Noll's listing of all known U. S. postal notes in collectors hands. US 25 H5 Hessler, Gene, U.S. Essay, Proof and Specimen Notes, 224 pp., Illus., 1979 Gift of Publisher This is the definitive reference on the subject. Paul Jung's previous review says it all. Pure joy to read and see! XX5 H5 Hunter, Dard, Papertnaking - The History and Technique of an Ancient Craft, 611 pp., Illus., 1978, Gift of Forrest Daniel. This book gives a good background survey of the papermaking process through the ages. A number of references to, and examples of, paper money related topics are made. Worth your time. ( o.s. vosvaL STATEMENT OF OWNERSHIP, MANAGEMENT Meruired 439 ornvice AND CIRCULATION U.S.C . JOS, A PUBLICATION NO 2. DATE OF FiLING1..uhL,”....L.......0,•, I I r ' ' 'ON , Y I ! II I . ,g ...u....N.,.....,...- t .I.X (A Seise and ZIP Social Iblotstenrerel 1 1 ll-1 , - .30 .. :...,,,a/I.t. SORSCRIPTiON 110.0o1":,71-1.thry 4. LocATION OF IEHOwN OF•icE o• ruELICATION !Street. C.. Counts P.O. =ill 9 0a9den, ',.erthow, Oouth Carolina 29020 S. ATION Or THE HEAnovANTERS OR GENERAL ROSINESS OFFICES r THE pus sHERS Not Sete. S .D . "q,,,, ' . Cu.,den, Kershaw, "outh Caro7ina ,,L2o0 NAMES AND COMPLETE ADORESSES OF PUBLISHER EDITOR AND MANAGING EDITOR 'he C,TOhn Co-wry. :-'.0 . "iox ,, ;a-nden, .;., C. 29220 EDITOR Marne and Adams! ?!.- !rile ' - I - , uelloo-, ''`.< . , ihchor Ave., Se'rerson, Jisconsin 53540 mANAGENG EDITOR (Name an , ,.1,Ve6.0 7. OWNER III sun, by a corporation.. sante and address pew, 9, 50,,;I and also immediately therms,' rhe nappies and .1,1J-cries of Ms, holders meninges hold* I precis!! Immure of Mal amount of etc, If ma owned br • corporation, Mc saw! and addrcrxes of Mt indivIdual owne r r inurr be sires, f owned In a partnership or other unincorporated firm Ss nans and address. as sell as rho of each incliridtral must be erring. If thr publication ix ',I.'S..a by a nosprofil !semi:onion. /0 sans ant I address muse be stared.) NA S Cu.. _ aten . .9. . annex.0C t ,y 0 , Cane- _..oltectorh B. KNOWN BONDHOLDERS. MORTGAGEES, AND OTHER SECURITY HOLDERS OWNING OR HOLDING I PERCENT OR MORE OF TOTAL AMOUNT OF BONDS, MORTGAGES OR OTHER SECURITIES (If Mere am ..,,, ao a.tal Pa ^pone. -1 ■ 9. FOP COMPLETION BY NONPROFIT ORGANtrATIONS AuTHORISED TO MAIL AT SPECIAL RATES !Section 131.122. PSNO ' 95555, "°'- ''""`'"" EXTENT AND NATURE OF CIRCULA,ON AVERAGE NO COPtES EACH ISSUE. DURING PRECEO1NG 12 MONTHS ACTUAL NO. COPIES OF SINGLE ISSUE PUSLISHED NEAREST TO FILING DATE A. ToTAL No. co•ms•RINTEO !Net Ave • Seel 2700 2700 . PAID CIRCULATION . 1. tvig j.....3=,. u..,,,,,,u.... -0- E. mAta. svEscRi•TioNs '500 2500 C. ToTAL •Aio CIRCULATION (sum of .10£11 and ZOBV 2500 2500 ' :: a ■TZT COWLT.:.• X';': WV,L• Z. 7.12 1::::FrI"c':pers - 0 - -0- e • ToTAL DIETRINuTi 55• )90 of C../ '500 2500 F. COPIES NOT DISTRIBUTED I. OFFicE uss LEFT ovER, uNACCOUNTED.SPOILE0 200 200 2. R-,,,,,,................... 00 2700 11 I certify ow au statements d complete. made!, me :Loga NO Tr, • EDITOR, V EH above are correot an . Le 1.2. FOR COMPLETION BY PUBLISHERS MAILING AT THE REGULAR RATES EsecHon 199.191. oat, .9 . rata. pr ly AulnorIxoS ev 39 U. S. C SAES ,a,m ...all sic HATu AND TITLS 00 DiTo v . 77yEss mANAREN. ow OWNKR 1/4 PE F 3526 (Page )) (See instructions on revel-ft) Page 354 Whole No. 90 People & Proceedings SPMC at ANA 1980 Award Program NATHAN GOLD MEMORIAL AWARD: Presented by Numis- matic News, Iola, Wis- consin, to a person who has made a concrete contribution to the advancement of paper money collecting. AWARD OF MERIT: For SPMC member (or members) who, during the previous year, rendered significant contributions to the Society which bring credit to the Society. Charles "Chuck" O'Don- nell of Williamstown, New Jersey, collector and author, for his numerous contributions to the field of paper money collecting. Steven Whitfield (recent- ly returned from Ger- many) The late Maurice Burgett of Belleville, Illinois for their work on the Society's combined book on Indian Territory/ Oklahoma/ Kansas Obsolete Notes and Scrip. Peter Huntoon of Laramie, Wyoming for his book TERRITOR- IALS: A GUIDE TO U. S. TERRITORIAL NA- TIONAL BANK NOTES published by the Society. Robert Medlar, of San Antonio, Texas, for his service as Past-President and Board Member of the Society. Murray Teigh Bloom of Great Neck, N. Y. author; for his program on Memphis before the SPMC in 1979. JULIAN BLANCHARD MEMORIAL AWARD: Presented to a member of SPMC for an exhibit, at annual ANA conven- tions, of proof notes, tie- in of stamps and paper money and/ or notes with matching vignette proofs and related material. Notes may be of any kind and of any period or country. Martin Delger of Kala- mazoo, Michigan for a U. S. fractional currency display. Mrs. Ruth Hill, president of our sister group, the International Bank Note Society, used SPMC's breakfast meeting to present a special award to Mike Crabb for his work on the Memphis paper money shows. Bob Medlar (1.) receives SPMC's Award of Merit from V-P Larry Adams. LITERARY AWARDS: First, second and third places. Awarded to SPMC members for articles published originally in PAPER MONEY during the calendar year preceding the annual meeting of the Society. FIRST: Ben E. Adams, of Houston, Texas, for his two- part article, The Raynolds Brothers: Pioneer Bankers of part article, The Raynolds Brothers: Pioneer Bankers of the West, in PAPER MONEY, No. 78, November- December, 1978, and No. 79, January-February, 1979. SECOND: Richard Kelly, of Leeds, England, for French-Style Numbering Explained, in PAPER MONEY No. 81, May-June, 1979. THIRD: Tom Knehl, of Santa Ana, California, for Postage Due, in PAPER MONEY No. 83, September- October, 1979. Paper Money Page 355 Fred Schwan enjoying his work lecturing to the SPMC breakfast at Cincinnati. Martin Delger (1.) displays COIN WORLD'S 20th anniversary "short snorter" which he won in the SPMC raffle conducted by Wendell Wolka. Ron Horstman (1.) on behalf of the family of the late Maurice Burgett, accepts an Award of Merit from Larry Adams. Martin Delger (1.) receives a special award for his work on the Memphis shows' exhibitions from (All photographs courtesy of Fred Reed, COIN Mike Crabb. WORLD) Page 356 Whole No. 90 COMING EVENTS PAGE —Regional Meetings Milwaukee, Wisconsin — March 21-22, 1981; South Shore Coin Club. Coffee and Danish get-together on March 21st. Indianapolis, Indiana — April 2-5, 1981; Central States Numismatic Society. Coffee and Danish get-together on April 4th. Memphis, Tennessee — June 19-21, 1981; Memphis Paper Money Sho'vv. Usual activities, with times to be announced. New Orleans, Lousiana — July 27-August 2, 1981; American Numismatic Association convention. Usual activities, with times to be announced. Toronto, Canada — July 15-18, 1981; International Paper Money Congress and Exhibition (INTERPAM '81). Meetings/ exhibition/ educational programs/ international bourse/ auction sale. Sponsored by International Bank Note Society and Canadian Paper Money Society. SPMC will hold a regional meeting at this event. Watch this space and the numismatic press for further details. For information contact W. H. "Will" McDonald, INTERPAM '81, P. 0. Box 704, Station B, Willowdale, Ontario, Canada M2K 2P9. Revised Advertising Rate Schedule By order of the Board of Governors of SPMC, rates on some size advertising spaces have been increased to reflect rising costs. Also, procedures for payment have been revised. One-eighth and one-quarter page space rates remain unchanged. One-half page, full page and cover spaces have been increased approximately 50%, with appropriate price breaks for three- and six-time insertion orders. In spite of these changes, PM still has the most economical advertising rate structure in the specialty. SPACE 1 time 3 times 6 times Outside back cover $72.00 $195.00 $367.50 Inside front & back cover $67.50 $181.50 $345.00 Full page $59.00 $158.00 $299.00 Half-page $36.00 $ 98.00 $185.00 Quarter-page $15.00 $ 40.00 $ 77.00 Eighth-page $10.00 $ 26.00 $ 49.00 To keep administrative costs at a minimum and advertising rates low, advertising orders must be prepaid in advance according to the above schedule. In the exceptional cases where special artwork or extra typing are required, the advertiser will be notified and billed extra for them accordingly. Rates are not commissionable. Proofs are not supplied. Deadline: Copy must be in the editorial office no later than the first of the month preceding month of issue (e.g. Feb. 1 for March issue). Mechanical Requirements: Full page 42 x 57 picas; half-page may be either vertical or horizontal in format. Single column width, 20 picas. Halftones aceptable, but not mats or stereos. Page position may be requested but cannot be guaranteed. Advertising copy shall be restricted to paper currency and allied numismatic material and publications and acessories related thereto. SPMC does not guarantee advertisements but accepts copy in good faith, reserving the right to reject objectional material or edit any copy. SPMC assumes no financial responsibility for typographical errors in advertisements, but agrees to reprint that portion of an advertisement in which typographical error should occur upon prompt notification of such error. All advertising copy and correspondence should be sent to the Editor. Paper Money Page 357 moneymart Paper Money will accept classified advertising from members only on a basis of 5C per word, with a minimum charge of $1.00. The primary purpose of the ads is to assist members in exchanging, buying, selling, or locating specialized material and disposing of duplicates. Copy must be non-commercial in nature. Copy must be legibly printed or typed, accompanied by prepayment made payable to the Society of Paper Money Collectors, and reach the Editor, Barbara R. Mueller, 225 S. Fischer Ave., Jefferson, WI 53549 by the first of the month preceding the month of issue (i.e., Dec. 1, 1979 for Jan. 1980 issue). Word count: Name and address will count as five words. All other words and abbreviations, figure combinations and initials count as separate. No check copies. 10% discount for four or more insertions of the same copy. Sample ad and word count. WANTED: CONFEDERATE FACSIMILES by Upham for cash 01 trade for FRN block letters, $1 SC, U.S. obsolete. John W. Member, 000 Last St., New York, N.Y. 10015. (22 words; $1; SC; U.S.; FRN counted as one word each) STOCK CERTIFICATES: 12 different $2.95, 50 different $14.95. Old checks, 24 different $2.90, 100 different $14.90. Illustrated list, SASE. Always buying 1 to 1,000,000 wanted. Clinton Hollins, Box 112J, Springfield, VA 22150. (92) CURRENCY LIST AVAILABLE: Nationals, U. S. currency, obsolete and Confederate included. Your want list is solicited. Leonard Garland, 2002 Seven Oaks, Dr., Humble, TX 77339. (90) WANTED: GEORGIA OBSOLETE currency and scrip. Willing to pay realistic prices. Especially want city, county issues. Also Atlanta Bank, Bank of Athens, Ga. R. R. Banking, Bank of Darien, Pigeon Roost Mining, Monroe R.R. Banking, Bank of Hawkinsville, LaGrange Bank, Bank of Macon, Central Bank, Ruckersville Banking Co., Bank of St. Marys, Bank of U. S. Central R.R., Marine Bank, Cotton Planters Bank, Interior Bank. Also buying proofs. Many other issues wanted. Please write for my want list, mailed free. Claud Murphy, Box 15091. Atlanta. GA 30333. (92) WANTED: FRN TRADERS: Need active traders in all districts to mutually assist in FRN block and fancy serial collecting. References available. All inquiries answered. Larry Booth, P. 0. Box 853, Salem, VA 24153. (90) STOCK CERTIFICATES, BONDS —list SASE. Specials, satisfaction guaranteed: 50 different stocks. $14.95. 100 different unissued stocks. $19.95. 100 different old checks, $19.90. Always buying, Clinton Hollins, Box 112J, Springfield, VA 22150. (92) WANTED: "PAPER MONEY" issues #2, #3, #4, #5, #33, #40. Will also buy complete sets. Member SPMC 5522. Ted Nehrenberg, 307 Placentia, Newport Beach, CA 92663. (91) MISSOURI CURRENCY WANTED: large size Nationals, obsolete notes and bank checks from St. Louis, Maplewood, Clayton, Manchester, Luxemburg, Carondelet, and St. Charles. Ronald Horstman, Route 2, Gerald, MO 63037. (91) OLD STOCK CERTIFICATES! Catalog plus 3 beautiful certificates $2.50. Also buy — highest prices paid for quality stocks and bonds. Please write! Ken Prag, Box 531PM, Burlingame, CA 94010. (95) TENNESSEE NATIONALS WANTED for my personal collection. Especially need first and second charters. Largest prices paid. Jasper Payne, Box 3093, Knoxville, TN 37917. (113) WANTED: FANCY SERIAL numbered notes: Radars, repeaters, solid numbers, ladders. Please list and quote prices. Also, Virignia Nationals and obsoletes. Will answer all letters. Larry Booth, P. 0. Box 853, Salem, VA 24153. (90) WANTED: TENNESSEE AND Texas Nationals or obsolete currency. Please describe and price. I will also trade. Leonard Garland, 2002 Seven Oaks, Dr., Humble, TX 77339. (90) WANTED: LARGE AND small Nationals of any Marshall, Texas hank. Also I am buying CU small size Federal Reserve Bank Notes. John T. Martin, Box 7058, Powderhorn Station, Minneapolis, MN 55407. (92) TENNESSEE-ARKANSAS-FLORIDA obsolete wanted— especially the better notes. Also want older checks with nice vignettes. Please contact Bob Pyne, 1610 Bennett Road, Orlando, FL 32803 (99) NOTICE: RESEARCH BOOK being compiled on small size currency. Information now needed on all North Africa Emergency Issue Star notes (yellow seal), $1, $5, $10. Collectors and dealers are kindly requested to send star serial number, grade, face and back check number. All correspondence will be honored and respected as strictly confidential. This information will serve to enhance, illuminate, and extend the field of paper money collecting. Please contact Omniphore Currency, Box 7070, Carmel, CA 93921 (91) U. S. TYPE NOTES WANTED: I wish to complete a full collection of U. S. large and small type notes. Will pay top dollar for CU notes in small size and EF or better in large size. Will take more than one of each if price is right. Don Olmstead, Box 135, Calais, Maine 04619 (90) ORANGE COUNTY, CALIFORNIA Series 1902 Nationals wanted: Anaheim (charter 11823); Brea; Fullerton (charters 9538, 12764); Garden Grove; Huntington Beach; La Habra. Some trades available. David A. Brase, Eastern Virginia Medical School, P. 0. Box 1980, Norfolk, VA 23501 (94) SELL ME YOUR old share certificates, bonds, cheques, promissory notes and world paper money. Top prices for choice material. Free lists. Wants lists accepted. Also buying old books on railroads, mining and banking. Geoff Cole, Box 460, Streetsville, Ontario, Canada L5M 2B9. Tel: (416) 826-9437 evenings (91) CANADIAN PAPER MONEY: Will buy or trade for your Canadian notes, any grade, any type. Ship or write. Maritime banknotes especially wanted. Don Olmstead, Box 135, Calais, Maine 04619 (9o) Page 358 Whole No. 90 WANTED: WADSWORTH, OHIO notes. Any type. Also wanted, any historic material relating to Wadsworth, Ohio. Dave Everhard, 4934A Locust St., Great Falls, Montana 59405 (97) BUYING BOND & STOCK certificates. Especially need railroad bonds and all proof bonds. Absolutely highest prices paid. Also trade! David M. Beach, Box 5484, Bossier City, OA 71111 (318) 865-6614 (92) WANTED: MILITARY PAYMENT Certificates (MPC's), $5 and $10 denominations of Series #521, 541, 591, in crisp uncirculated (CU) condition only. Only one note of each series is required. State firm price when writing. N. L. Imbriglio, P. 0. Box 399, Oakhurst, NJ 07755 (93) WANTED OBSOLETE CURRENCY of the Merchants and Planters Bank of Savannah, Georgia. Please describe and price in first letter. Gary Hacker, 2710 Overhill Road, Pekin, IL 61554. (92) WANTED: OBSOLETE NOTES and scrip from Arkansas for SPMC book. Please send list, if not for sale, or will buy or trade if needed. Also proofs. Help make this Arkansas book complete. Matt Rothert, 656 Graham St., Camden, AR 71701 (91) BUYING OBSOLETE CURRENCY — all states wanted, especially North Carolina. Also, Confederate currenty and U. S. Fractional. Desire quality. Willing to pay top prices. Don Buchanan, P. 0. Box 8632, Greensboro, NC 27410 (92) WANTED: OBSOLETE COLLECTIONS, accumulations any state. Lists welcome. Will travel. References. Ron Carpenter, 130 Pebblebrook, West Columbia, SC 29169 (ph. 356-4932). (93) WANTED: CHECKS AND exchanges from all Western states. Will pay good prices or have trades available. Charles Kemp, 426 Riverbank, Wyandotte, MI 48192. (94) KANSAS NATIONALS WANTED: all originals, Brown Backs, Value Back and Red Seals fine or better. Also, all Olathe, Kansas, any condition. Allan Sundell, 932 WardCliff Drive, Olathe, KS 66061 (913) 764-3489. (92) WANTED: 1979 FIRST SPMC souvenir card issued. Please state amount and price each when writing. Reply to Eugene J. Schmid, 42 Arcadia Way, Hillsdale, NJ 07642. (91) WANTED: SYCAMORE & DE KALB, Illinois Nationals. Both large and small size needed. Also need Sycamore or De Kalb from any other state. Bob Rozycki, Sycamore Coin Gallery, 358 W. State St., Sycamore, IL 60178 (94,1 BUYING STOCK CERTIFICATES, bonds, railroads, mining, industrial, foreign. Instant reply! Arnold Weiss, 980 S. Granville, Los Angeles, CA 90059 (98) BISONS, INDIANS, EAGLES, Martha, George Washingtons, Educationals, Port Holes, Battleships, Gold Notes. Many more. Nationals, large, small. Over 40 states. Errors. Many CU's. Over 600 notes. Bi-monthly mail bid. Free List. Where currency is first, not a sideline. ANA, SPMC. Ed's Currency. P. 0. Box 7295, Louisville, Ky 40207. (90) F-16s FOR SALE. VF low #74 Series 6 in top left quarter, $500. VF Series 237 in top right quarter, $250. VF Series 231 in left quarter, $250. Fine high #81498 Series 221 left, $125. Others $125, $50, $40, $30. Frayed $20. Want $20 Continental May 10, 1775. Phil MacKay, Drawer J, Osceola, MO 64776 (417) 646- 2741 (92) N. C. NATIONALS WANTED: Send descriptions and prices to Durwood Barbour, 109 N. King Charles Rd., Raleigh, NC 27610 WANTED: WOOSTER, OHIO notes, obsolete or Nationals. Would appreciate description. Will answer all letters. Price and Xerox appreciated. Ralph Leisy, 616 Westridge Dr., Wooster, OH 44691 MONTANA TERRITORIAL CHECKS, drafts and financial paper wanted. Also wanted Wadsworth, Ohio Nationals and checks. Dave Everhard, 4934A Locust St., Great Falls, MT 59405 (94) (100) 1864 CONFEDERATE CURRENCY, all crisp in holder. Consecutive numbers available. $1.00 T-71, $13.95; $2.00 T-70, $13.95; both $26.00 PP. Claud Murphy, Box 15091, Atlanta, GA 30333 NEW BEDFORD AND Fairhaven, Mass. Obsoletes and scrip wanted. Also New Bedford whaling documents. Patrick Lang, 7 Pine Brook Dr., Easthampton, MA 01027. (94) WANTED: NATIONAL CURRENCY from Palo Alto, Calif., charter numbers 7069, 13212. Also Englewood, N. J. charter number 4365. Buy, sell and trade other notes too! William Litt, 656 Junipero Serra Blvd., Stanford, CA 94305. (90) WILL TRADE BEAUTIFUL oil company certificates printed in red for any I lack. Frank Sprinkle, 304 Barbee Blvd., Southport, NC 28461. WILL TRADE $500.00 California Certificate dated 189- with coupons for any I lack. Frank Sprinkle, 304 Barbee Blvd., Southport, NC 28461. WANTED: GILLESPIE, ILLINOIS National Bank Notes (American and Gillespie). Large and small size, any denomination, any condition. Robert Gillespie, 433 Surrey Drive, Lancaster, PA 17601 WILL CONSIDER OFFER on uncut sheet of 2 Confederate Interim Certificates. Charleston, 1864. Frank Sprinkle, 304 Barbee Blvd., Southport, NC 28461. (92) WANTED: PENNSYLVANIA NATIONALS: small-- Pottsville $50, 649; Nuremberg, 12563; Tower City, 14031; Scranton, 13947; Millersville, 9259. Large--Auburn, 9240; Ashland, 403. Robert Gillespie, 433 Surrey Drive, Lancaster, PA 17601 (92) ADVERTISING BANKNOTES WANTED: Buy or exchange. I am especially interested in patent medicines or dentistry. Dr. Ben Z. Swanson, Jr., PSC Box 2742, APO New York 09293. (99) Just as it did in 1980, the 1981 A.N.A. Midyear is again expected to realize record high prices. Get your coins in on the action. For consignment information call collect or write to: C7- Hurry! Don't miss the A.N.A. Midyear Auction Sale in Hawaii! Get top dollar for your coins! Plan to be part of the A.N.A. Midyear Auction Feb. 5-8, at the Hilton Hawaiian Village on Waikiki Beach. In February of 1980, Cunning- ham's conducted the first A.N.A. Mid-Year Convention Auction in Albuquerque. Numismatists from coast to coast are still talking about the many record high prices realized for consignors to that auction and the professional manner in which the auction was conducted. As a result of this success, The A.N.A. has selected Cunningham's to handle the 1981 A.N.A. Mid-Year Auction in Hawaii. Cunningham's considers it a distinct honor to be chosen to conduct this prestigious auction for the second consecutive year. Due to the well known success of the 1980 A.N.A. Mid-Year Auction and the alluring Hawaii location, the 1981 A.N.A. Mid-Year is ex- pected to attract many more earnest collectors and dealers. In fact, many see the A.N.A. Mid-Year Auction in Hawaii as potentially larger than the A.N.A. Annual Convention. When you add it all up, the February A.N.A. Mid-Year Auction in beautiful Hawaii may be the best opportunity ever to get top dollar for your coins. Also, Cunningham's Commission rate for this big auction is only 1 5 % with no hidden charges. Cunningham's will conduct a comprehensive auction marketing program for the A.N.A. Mid-Year to give you the best chance to realize the highest possible prices for your coins. Coins will be displayed in a very attractive full-color catalog that will be viewed and studied by thousands of potential mail and floor bidders. Cunningham's has also scheduled a wide range of advertising and sales promotion for the A.N.A. Mid-Year through ads in major numismatic publications, news releases to the various media, and a direct mail program to poten- tial bidders. Whether you have a large or small consignment, Cunningham's welcomes your coins for the ex- citing A.N.A. Mid-Year Auction. Don't Delay! The consignment deadline is December 1st. P.O. Box 197 Story City, Iowa 50248 (515) 827-5258 A.N.A. life member No. 2295 I.N.A. life member No. 84 A.N.S. member SATISFACTION GUARANTEED CHARLES T. RODGERS C.T. COINS P.O. Box 66531 • Los Angeles, CA 90066 Legal Tender Oranges in 11x14 Frame $12.00 ppd Legal Tender Apples in 11x14 Frame $12.00 ppd Six original turn of the century, full color embossed cigar box labels. Beautifully double matted in 8"x10" dark oak wood frame with glass. Your choice of two tone blue, light green or brown matte. Please specify. Checks of the Assistant Treasurer of the U.S. at New York 1860s. Pink Print. $8.50 ea. ppd. Full sheet of 3 pcs. uncut $24.00 ppd. Checks of the Assistant Treasurer of the U.S. at New York 1860s. Army allotment. Black print on green $15.00 ea. ppd. Full sheet of 5 pcs. uncut $60.00 ppd. Checks of the Treasurer of the U.S. Wash- ington 1860s. Brown print. $8.50 ea. ppd. Full sheet of 3 pcs. uncut $24.00 ppd. WISIIZTOMV. OETREES. Wa.hiuttan. Oullarr. Paid In Full $15.00 ppd Record Bond $15.00 ppd Bank Note $15.00 ppd Uncle Sam $40.00 ppd War Chest $15.00 ppd Greater Columbia $40.00 ppd itittior RaliP N PLIES , *PIOUS 1.3 sup 4littalOr !WM)PROM! AtiSISTANT ) sin. , York • SSS „, Page 360 Whole No. 90 SINCE 1956 = i "Real" Investments; Collectibles, Gold & Silver Jonathons Coin, inc. "Real News Reports" Weekdays 7:50, 11:50 & 5:50 on TV CH. 22 This year, Jonathons Coin, inc. will buy and sell more choice and gem large and small size U.S. currency than any dealer nationwide. We deal in superb material only, and encourage all serious investors and collectors to call us first. •SINCE 1956 1 Jonathons Coin, inc. 525 West Manchester Boulevard, Inglewood, California Paper Money Page 361 (213) 674-3330 Outside Ca. (800) 421-2932 National Teletype Facts A13 Page 362 Whole No. 90 Ceylon Government issue,100 Rupees 1945 Collect the experience ofour specialists too. Serious collectors of paper money are, naturally, equally serious about where to buy or sell. At Stanley Gibbons we have a number of experts, each highly- experienced, to help and advise with your collecting needs. As the largest dealers in the world (with material from the 14th to the 20th Century) we can offer you the greatest choice of regular issues, military, emergency and siege notes, proofs, specimens and colour trials. It makes sense to come to Stanley Gibbons, one of the oldest established names in the collecting world. Cheques. A growing new collecting interest which combines a fascinating insight into social history with the beauty of artistic engravings. We have an excellent selection dating from the 17th Century and prices range from 1 to £250. Do telephone or write for more information about a subscription to our retail list or our Auctions, Wants and Approvals Services. Christopher Stocker, Stanley Gibbons Currency Ltd. Banknotes (Department PM), 395 Strand, London WC2R OLX. Tel: 01-836 8444 (Extn. 350) Paper Money Page 363 Four exceptional rarities from our CSA inventory, to tantalize the advanced collector and shrewd investor, alike. We have recently had the good fortune to purphase alb incredible "old /time" CSA type collection from the Deep South and now have virtually all CSA type notes in stock. T1 $1000 Montgomery Issue (87 known) an above average specimen, vivid in color and well centered, Very Fine with a single repaired bank hammer cancellation at the signatures. Worth 54250.00 T4 $50 Montgomery Issue (108 known) far above average, face appears unc., but back exhibits several folds, vivid color with full margins except at upper left corner. Choice XF + Very worthwhile at $2250.00 T2 $500 Montgomery Issue (among the very finest of only 78 known), as fresh as the day it was printed, save for one insignifi- cant quarter fold left of center, brilliant color with exceptional centering, undoubted the finest such example to be offered for sale in many years and for many more to come, superb AU/Unc. Very reasonably priced at $7750.00 1.00 T3 $100 Montgomery Issue (107 known), another exceptional specimen with brilliant color and full margins, virtually impos- sible to upgrade, choice AU/Unc. An excellent value at only S2950.00 The above four notes may be purchased as a lot for the reduced price of 516,250.00 (a 5950.00 savings). Charter subscriptions to our superior catalogue of Obsolete and Confederate currency (with illustrations) are still available at $5.00 per year. This is NOT your "run of the mill" currency price list, but an up-to-the-minute REFERENCE WORK, as well as a fixed price catalogue . . . nothing quiet like it has ever been printed. The subscription rate WILL be increased to S10.00 per year after December 1st, so place your suscription order TODAY! Sample copies are available for S2.50 each. 1633 N.E. Highway 10 Suite 5W Spring Lake Park, MN 55432 612-786-5545 Days 612-757-5878 Eve. after 6 Ask for Scott Secor Name Address City, State, Zip Daytime Tel.: Page 364 Whole No. 90 Sell your currency to the company that% not holding out for a bargain . New England Bare Coin Galleries holds out for quality. New England Rare Coin Galleries, the world's largest dealer in rare U.S. coins, is now buying rare U.S. currency. And we are applying the same high standards to our paper money inventory that have made our rare coin inventory famous: unsurpassable quality material, with absolute guarantees of grading and authenticity. We can't afford any bargains ...we will pay only top prices, but only for top quality currency Here are some examples of our current needs, and the prices we will pay for uncirculated notes, depending on condition: q Legal Tender $10 Bison $2,250 - $4,000 O Silver Certificates $2 Educational: $2,750 - $5,500 E Fractional Currency 500 Justice Issue: $175 - $676 q Treasury Notes $2 1891: $500 - $2,500 We don't expect any bargains ... and our offer may come as a pleasant surprise to you. Ship your notes, registered and insured, to New England. Or contact us first to discuss your collection. A special Offer for SPMC Members! If you collect paper money you should read Inventory Selections New England's monthly catalog of coins and paper money. Subscrip- tion cost is $10 per year, automatically extended when you buy $150 or more from any catalog. As a spe- cial introductory offer to SPMC members, we are offering free sample copies of the current issue. Inventory Selections' feature arti- cles, monthly columns, and bountiful selection have made it one of the most eagerly awaited publications in numis- matics ... and now in syngraphics too! Send for your free current issue today. Dear New England: q Enclosed are notes from my collection. Please contact me with your offer. q Please contact me about buying my ( brief description of material you wish to sell ) q I'd like to receive your currency offerings every month Please enter my subscription to Inventory Selections- . I enclose $10. q I'm an SPMC member. Please send the current issue of Inventory Selections free. is Mail coupon to: (/ New England Rare Coin Galleries 'NEW P.O. Box 1776, Boston, ENGLANDMA 02105 RARE COIN HD-5 GALLERIES H New England Rare Coin Galleries World's Largest Dealer in Rare U.S. Coinage 89 Devonshire Street, Boston, MA 02109 q Toll-free 800-225-6794 n In Mass. 617-227-8800 Paper Money Page 365 ...from the Publishers of the most respected source of pricing information ... THE `GREY SHEET9 (THE COIN DEALERNEWSLETTER) ANNOUNCES a NEW Publication •.• the CURRENCY DEALER newsletter all NEW Monthly Publication that is the most COMPREHENSIVE and UP-TO- DATE pricing guide available in this booming (and ever-changing) field! DEALER-TO-DEALER BID/ASK Charts cover all of the following areas: *LARGE SIZE U. S. NOTES* •Demand Notes •Treasury Notes or Coin Notes •U.S. Notes (Legal Tender) •National Bank Notes •Compound Interest Treasury •Federal Reserve Bank Notes Notes • Interest Bearing Notes •Federal Reserve Notes •Refunding Certificate •National Gold Bank Notes •Silver Certificates •Gold Certificates *U.S. FRACTIONAL CURRENCY* *U.S. FRACTIONAL CURRENCY* PROOF & SPECIMEN NOTES *SMALL SIZE U.S. NOTES* •Legal Tender Notes •Federal Reserve Notes •Silver Certificates •Gold Certificates •National Bank Notes •WW2 Emergency Issues •Federal Reserve Bank Notes *UNCUT SHEETS-SMALL SIZE CURRENCY* •U. S. Noted (Legal Tender) •WW2 Emergency Issues •Silver Certificates •National Currency ....PLUS in-depth articles and analyses, each month, written by the most respected experts in this field! ....PLUS - auction reports - to give a clear and accurate picture of the most recent activity! ....PLUS - special Issue-by-Issue Charts covering special areas of changing importance! Please enter my subscription to the new monthly CURRENCY DEALER Newsletter Enclosed is my check or money order for q $20 for One Year q $37.50 for Two Years MAIL TO: The Currency Dealer Newsletter P. O. BOX 2308 Hollywood, CA. 90028 PLEASE WRITE TO THE ABOVE FOR OUTSIDE NORTH AMERICA SUBSCRIPTION RATES. NAME ADDRESS CITY STATE ZIP $125 41. $5 Bank of Michigan, Detroit VG 42. $3 State Bank. Detroit. Beautiful black and red. AU. 43. $10 Central Mining Co. Eagle Harbor PC. F. 44. $2 Bank of Manchester "X" Cancel EF 45. $3 Bank of Manchester "X" EF 46. $5 Bank of Manchester "X" F. 47. $3 Bank of Michigan. Marshall XF. 48. $10 Bank of Mich. Marshall. Attractive and scarce AU 49. Calhoun County Bank. Marshall $1 Scarce. G+ 50. $2 Calhoun County Bank. Marshall. Scarce. Two small patches. G. 51. $2 Exchange Bank of A. J. Perrin. Marshall. Paper $50 detioration from "Worthless" ink notation. XF. . 52. $3 River Raisin & Lake Erie RR Co. Monroe. AU. 53. $3 Bank of Monroe TERRITORIAL G-VG 54. $2 Lenawee County Bank. Palmyra, Scarce $50 55. $3 Oakland County Bank. Pontiac. BEAUTIFUL U. $50 Current Fla. ad. $50 56. $10 Bank of Chippeway. Sault de St. Marys. Upper peninsula! AU + 57. Tecumseh Bank. AU $1. 58. Erie & Kalamazoo RR Bank $1.75!! at TOLEDO when it was part of Mich.!! Somewhat dark. G . 59. $3 Bank of Ypsilanti. Scarce G 60. $10 Bank of Ypsilanti. Scarce. F $75 cF150 $40 $60 $35 $25 $60 $9 $75 $50 $25 $25 Page 366 Whole No. 90 Est. $30 $75 $15 $90 $150 OBSOLETE CURRENCY AUCTION Lot No. Description 1. $3 Shetucket Bank. Norwich, Conn. Large "3" G-VG 2. $3 Bank of West Florida. Apalachicola. TERRI- TORIAL. Few small holes. VF. 3. Citizens° Bank of Louisiana $1 & $2 Both Unc. . 4. $3 Red River Packet Co. New Orleans, La. RARE! F 5. $3 Lafayette County, Miss. Spectacular UNLIST- ED Miss. note with Lincoln vignette! UNIQUE!! F. 31. $50 Mich. Southern & N. Indiana RR Adv. note G- VG 32. $3 Adv. A. Johnson Millinery. Bridgeton, N.J. Nice EF. 33. $7 Adv. New Book Store. Seneca Falls, N. Y. SUPER DENOMINATION! EF 34. $3 Niagara Suspension Bridge Bank Queenston, Canada. Scarce F 35. $20 CSA 1861 Beehive. VF. MICHIGAN OBSOLETES 36. 254 Erie & Kalamazoo RR Bank, Adrian. Scarce. Dirty. G-VG 37. Adrian Insurance Co. $1 VG 38. Adrian Insurance Co. $2 U. 39. $1 Bank of Washtenaw, Ann Arbor AU 40. $1 Bank of Battle Creek. Scarce U. $50 $50 $70 $50 $25 $40 $10 $15 $10 $50 6. Columbus Life & Gen. Insur. Co. Uncut Sheet 254, 504' and 754 (9 notes) Unc. Scarce, 7. $3 West Feliciana RR Co. Woodville Miss. SCARCE VF 8. $50 Commercial Bank of Rodney. Somewhat dark, about 5% of note missing but finest known since this note is UNIQUE, UNLISTED, MISS. note G. 9. $1 Merchants Bank, Trenton, N.J. Old tape repair. G. 10. 104, 254 504 Key Port & Middleton (N.J.) Point Steamboat Co. (3 notes) U. 11. $3 Hoboken Banking & Grazing Co. 1827, Scarce. 12. $5 Ontario Bank. Utica N.Y. 1829 VG 13. 104 GIRARD Loan Co. Phila., Penna. RARE. .. 14. $1 S. C. RR Co. U. 15. $5 Agricultural Bank. Brownsville, Tenn. F-VF 16. $10 Commercial Bank of Tenn. Memphis. Blue Rev. F 17. Exchange Bank of Tenn., Murfreesboro. F $5. 18. Bank of West Tenn., Memphis "Coin note" F $5. 19. Bank of Tenn., Nashville, $1, Uncancelled. SCARCE G-VG 20. $3 Chemical Bank. N. Y. Dogs center. Scarce G 21. State of Texas. Two bond coupons. 1881 Scarce AU 22. $2 Wash. County Texas U. 23. UNCUT SHEET. Kelsey H. Douglas $2, UNLIST- ED $2, $3, $5. Nacogdoches, Texas payable in New Orleans. Attractive! pen cancelled AU. 24. $3 Drovers Bank. Salt Lake City UTAH. 1856. Huge cattle vignette. Signed. A SHOWPIECE U. $400 25. 254 County of Shenendoah. Va. AU. $15 26. $5 Exchange Bank of Va. Norfolk F. $15 27. $3 Attractive scrip note not filled in. Cowboy vignette 185- EF. $20 28. $3 Advertising notes (2 diff.) not filled in. Nice VF & EF. $30 29. $3 Adv. note. City of Paris. Chic. Ill. Somewhat rough cond. but interesting $20 30. $2 John Taylor Bakery Adv. on an Indiana note (Southern Bank) F. $40 $20 $17 $20 $12 $17 $12 $15 $40 $30 $35 $30 $25 $40 $75. $175 $40 $10 $110 $30 $50 FALATER (First National Banknote) 118 N. Howell Hillsdale, Michigan 49242 WANTED: Michigan Paper Money. Nationals, Obsoletes, Scrip, Advertising, College Currency, Depression Scrip, etc. Paying $5 each for any undamaged Mich. obsolete currency. Want lists solicited. Closing Date: Two weeks after receipt of this issue of "Paper Money". No Buyer's Commission. A 2% handling and insurance $250 charge will be added to all invoices (minimum $2). NASCA NUMISMATIC AND ANTIQUARIAN SERVICE CORPORATION OF AMERICA 265 Sunrise Highway, County Federal Bldg., Suite 53 Rockville Centre, Li., New York 11570 516/764-6677-78 George W. Ball, Chairman of the Board Paper Money Page 367 •••• • •• • ••• •• • •••• •••• • • THANK YOU FOR MAKING : NASCA'S BROOKDALE CURRENCY SALE REALIZE A TOTAL PRICE OF $1,001,812.00 THE FIRST CURRENCY SALE IN THE HISTORY OF THE WORLD EVER TO TOP 1 MILLION DOLLARS! •• • Hundreds of world record prices were achieved including the highest price ever paid for a single U.S. note at public auction. LOT 1414 FR. 2 $5 DEMAND NOTE-UNC. PRICE REALIZED - $23,000! ♦- •• ml 4 i r-- 2 , 8 -30811 ---41t_ay...- ., 1000. ...: ,.. ,...„- I I I I I , , sill:1,771, I TTrir 7•5 - , -8 4..... 2 El 1000 LOT 2230I UNIQUE SET OF 9 GRINNELL "SAMPLE" NOTES PRICE REALIZED - $55,000! Other record prices and highlights from this legendary sale include: FRiENBERG GRADE 1979 FRIEDBERG PRICE NASCA PRICE REALIZED FRIEDBERG $ GRADE 1979 FRIEDBERG PRICE NASCA PRICE REALIZED EF 5 85000 (VG) S 4700 00 277 Choice Unc 350 00 1800 00 2 3 Unc Erne in , Nat Listed 900 00 (VG) 23.00000 3.000 00 282 287 Choice Unc Gem Unc 500.00 200000 1.70000 190000 4 Proof Not Listed 4.10000 297 Unc 200000 4 00000 Crisp Jnc 40000 90000 302 Gem Unc 650 00 atocloo 18 Crisp Unc 45000 190000 308 XF Not Lusted 12 50000 Choice Inc 80000 2.20000 310 AU 180000 4.600 00 56 Unc 22500 60000 311 Unc 375000 5.800.00 61 Unc 525 00 2.50000 313 Fine 50000 2.300 00 75 Cnoice unc 40000 1,25000 320 Unc 125000 4000 00 95A Unc 750 00 240000 328 Unc Not Ustect 16 000 00 Choice unc 1000 00 230000 344 Elne•VE 100000 5200 oc 103 Gem Unc 40000 100000 347 Gem unc 85000 5.000 00 120 Unc 45000 1.60000 348 Gem Unc 850 00 410000 123 Gem unc 175000 5.00000 355 Gem Unc 1650 00 9.00000 120 Jnc 115000 160000 361 Choice Unc 125000 a9oo 00 7 25 Jnc 85000 2.20000 369 Unc 60000 1.200 00 149 Proof Not sistea 370000 373 EF 200000 3.700 00 106 Proof Not Listen 4.90000 387 Proof Not Usrea 450000 1 7 7 Au 250000 3.90000 389 Unc Not ustea 2.80000 221 Choice Una, 70000 !80000 394 Unc Not Listed 2.500 00 224 Cnorce unc 40000 1650 00 762 Choice Unc 265 00 1.450 00 225 Gem Unc 150 00 27000 794 Unc 225 00 575 00 22e Proof Not ustea 2.00000 838 Gem Unc 225 00 800 00 210 Gem Unc 47500 800 00 892 Gem Unc 350 00 15000 245 Inc 1100 00 290000 1120' Choice Unc 300 00 1750 00 248 Gnaice Inc 125000 430000 1132 Unc Not Listed 8250 00 254 Choice Inc 85000 2.00000 1133 Unc Not Listed 8250 00 2,1 Choice Unc 90000 210000 1200 Gem Unc 1000 00 270000 258 Etdo1 Not holed 3800 00 1218.7 Not Listed 6 600 00 NASCA COMMISSION SCHEDULE FOR CONSIGNMENTS NASCA is pleased to announce that In the Sontag of 1980 in oadltion to our regular coin sales we will be holding Iwo currency sales Incluung one in Coaiunctron with the 1980 Memphis Paper Money Show It vou wish to consign ph, :taunt, rs, one _I these Prestigious sales pease call us collect and rust tell _ur secretary you w on to lark about a consignment We will be nappy to accept ine charges or fis our the coupon below and we will send the aoaillonal n1ormatori that is requested PRICE REALIZED PER LOT $1 - 200 COMMISSION CHARGED COMMISSION TO CONSIGNOR CHARGED TO BUYER 50 $201 - 299 13% 5% $300 - 499 10% 5% 5500 - 1449 71/2 7 2 5% $1500 - up 5% SPECIAL NOTICE We willBbeecz,t ne, noura3r yn,„co nwoew, the Long Beach Internahonoi Coin Convention at the beginning of February 1980 it you won to deliver your consignments there we certainly will be happy to recelve them and discuss Ins with you further A few copies of this historic Brookdale catalogue and prices realized are available - see the coupon below. SPECIAL NOTICE CONSIGN YOUR CURRENCY WHILE THE MARKET IS AT ITS PEAK AT THE LOWEST COMMISSION RATES IN THE UNITED STATES ITASCA 265 Sunrise Hwy '53 - Rockville Centre. NY 11570 I wish to order a copy or the Brookaale catalogue and prices realized at 5600 each. Enclosed is my check in the amount of $ for _ copies Please rush them I wish to consign to one of your upcoming currency sales or the lowest commission rates in the country Please call me at _ - (Area Code) Please send me more details to the address listed below I wish to charge my Order to Master Charge Visa (BonkAmericara) My Credit Card Number is Esptrotion Dote inter Bank ' Signature NAME ADDRESS L STATE ZP -ANOTIIIR EXCLUSIVE FROM: GRAECO P.O. BOX 937 BREA, CA 92621 • (714) 529-0285 Page 368 Whole No. 90 Positive Protection for :\ •er *) All Paper Collectables and Important Documents Currently Used by: • Currency Collectors • Stamp Collectors • Stock Certificate Collectors • Law Enforcement - Evidence holders for bad checks, questioned documents, etc. • Lending Institutions, banks, etc. • And many more 100% Mylar FOR FREE COLOR SCRIBING COMBINATIONS TIONS COVERING CURRENCY, K CERTIFICATES, ETC. ALBUM LtDESIGNED AND AFFORDABLE. TART FROM $26.95 COMPLETE. UNITED STATES LEGAL TENDER NOTES UNITED STATE, SILVER CERTIFICATES ur,TED ST,TES GOLD CERTIFICATES uNITED STATES NATIONAL CURRENCY UNITED STATES FEDERAL RESERVE NOTES - FD STATES EDERAL RESERVE NOTES •11111, 11.111. .:NITER STATES SMALL SIZE CURRENCY DN TEN STATE, • EXPERIMENTAL ISSUE • ANION IN LI A UNITED sTATES EMERGENI Y SERIES - 1111.71,1"TR W./ MILLIE 1•1 • • • • Paper Money Page 369 For An Award Winning Collection MOUNT YOUR U.S. PAPER MONEY ON Y)40./eA/tfix CURRENCY ALBUM PAGES The following sets of PHOENIX CURRENCY ALBUM PAGES and mounts will accommodate ALL small size U.S. currency issued from 1928 to date. Legal Tender Notes Series Capacity Retail L-01 One Dollar 1928 1 .60 L-02 Two Dollars 1928-63A 14 4.50 L-05 Five Dollars 1928-63A 12 3.50 L-3B Any Denomination ANY 12 3.50 Silver Certificates SC-1 One Dollar 1928-57 B 21 6.00 SC-5 Five Dollars 1934-53 B 8 2.50 SC-10 Ten Dollars 1933-53B 9 3.00 S-EA Emergency Issue - Africa 1934-35A 3 1.50 S-EH Emergency Issue - Hawaii 1934-35A 4 1.50 S-RS Experimental Issue - "R" & "S" 1935A 2 .60 S 3B Any Denomination ANY 12 3.50 Gold Certificates G-01 $10 -$20 -$50 -$100 1928 4 1.50 Federal Reserve Bank Notes F-05 Any Denomination 1929 12 3.50 National Currency N-05 Any Denomination 1929 12 3.50 N-3B Any Denomination 1929 12 3.50 Federal Reserve Blockletter and Notes - $1.00 District Sets Star Note Sets SERIES CAPACITY RETAIL SERIES CAPACITY RETAIL 01-1 Granahan-Dillon 1963 12 3.50 01-1B 34 8.75 01-2 Granahan-Fowler 1963A 12 3.50 01-2B 70 17.75 01-3 Granahan-Barr 1963B 5 2.00 01-3B 13 3.75 01-4 Elston-Kennedy 1969 12 3.50 01-4B 36 9.25 01-5 Kabis-Kennedy 1969A 12 3.50 01-5B 32 8.25 01-6 Kabis-Connally 1969 B 12 3.50 01-6B 35 9.25 01-7 Banuelos-Connally 1969C 10 3.50 01-7B 25 6.75 01-8 Banuelos-Shultz 1969D 12 3.50 01-8B 47 12.25 01-9 Neff-Simon 1974 12 3.50 01-9B 68 17.25 01-10 Morton-Blumenthal 1977 12 3.50 01-10B 63 16.25 01-11 Morton-Miller 1977A 12 3.50 01-11B 24 6.50 Federal Reserve Notes - $2.00 Series Capacity Retail 02-1 Neff-Simon 1976 12 3.50 Federal Reserve Notes - $2.00 Blockletter and Star Notes Sets 02-1 B Neff-Simon 1976 24 6.50 Federal Reserve Notes F-3B Any Denomination ANY 12 3.50 Small Size Currency AP-3B All Purpose (Errors, radars, etc.) ANY 12 3.50 Please include $1.50 for postage and handling on all orders. PHOENIX CURRENCY ALBUM PAGES fit any standard three-ring loose-leaf binder. R. J. BALBATON, I NC. POST OFFICE BOX 314, PAWTUCKET, RI 02862 Page 370 Whole No. 90 paper hsts, Please )0 (50c fo r Postage ' iri StOek BUYERS LUNG ^ ♦ STATES P R ONO( • WoRLV BANEN KNoTE♦ RLD PAPER ONO' P ROOFS • UNITED STATES OS & BON E NoTES • spECH4 NoTES BSoLET • E ARLY STOCKDS • OLP CHECKS We are in fact interested in just about anything in paper, be it a collection or a single item. If you have Banknotes to sell it will pay you to contact Gary Snover at: STANLEY GIBBONS CURRENCY, INC. P.O. Box 3034 San Bernardino, CA 92413 Telephone 714/883-5849 WANTED TO BUY NEW BRUNSWICK, NEW JERSEY NATIONALS TOP PRICES PAID For the three New Brunswick, New Jersey banks pictured here: The First National Bank of New Brunswick Ch. #208; The National Bank of New Jersey Ch. #587; and the Peoples National Bank of New Brunswick, Ch. #3697. Buying any large size notes on these banks; and small size $5.00 Type I and II with Parker and Kirkpatrick sig., $10.00 Type II with Kirkpatrick sig., and $20.00 Type II with Parker sig. all on the # 587 bank. Please state condition and price with first letter. Send photo, if possible. Will pay for photo. (86) William R. Kazar, SPMC 3785 280 George St. New Brunswick, NJ 08901 (201) 247-8341 gE414 ,4*.:s. Ns0101■ ,t1.1t,v,..,,, 3 crfxritozgvy "q)140,1, I reserve the right to reject any and all items for any reason. WANTED FOR MY COLLECTION CONFEDERATE STATES Our Fall Bonanza Sale (Closing Dec. 1, 1980) will feature the extensive collection of Confederate Paper Money formed by Mr. RALPH A. (CURLY) MITCHELL Over 200 notes, representing most major types including many rarities, will be included in this sale. Also featured will be the Hoagy Carmichael collection of So-Called Dollars and our usual diversity of token and medal material. Those not on our mailing list are invited to send a postcard requesting a copy of the Catalogue. Prices realized available 30 days after sale at $1.50. ARCADIA, CA 91006A CORPORATIONP. 0. BOX 3069 Paper Money Page 371 (MANY TRADES!) PETER HUNTOON P.O. Box 3681, Laramie, WY 82071 Nobody pays more than Huntoon for AnizoNA& WYOMING State and Territorial Nationals 7011 >20 , '" 114 WANT ALL SERIES, ANY CONDI- TION, EXCEPT WASHED OR "DOC- TORED" NOTES. For Confederate Currency - Obsolete Stocks And Bonds Come To The Experts Combined Experience of Over 60 Years CRISWELL'S Ft. McCoy, Fla. 32637 Grover CriswellLarry Marsh Page 372 Whole No. 90 Paper Money Page 373 SPMG# 1300 P.O. Box 3093 Knoxville, Tenn. 37917 TENNESSEE CURRENCY WANTED NATIONALS (Large & Small) for my personal collection Also Southern States Nationals Confederate Notes 22459 WANTED FRACTIONAL CURRENCY: highest prices paid for scarce, or higher grade material — regular issue, specimens, shields, full or partial sheets, errors, and Spinner material , U. S. ENCASED POSTAGE: buying all encased postage, in any condition, rare or common. U. S. MILITARY PAYMENT CERTIFICATES: buying late series (611 - 692) in new condition, early series (461 - 591) in XF or better. Replacements in any condition. U. S. LARGE SIZE CURRENCY: all better grades wanted. I will pay premium prices for quality material, XF or better. Processed, doctored, or pressed material will be returned. HAWAII and NORTH AFRICA: all AU to gem notes wanted ... Please write or ship with price desired, or, I will make an offer commensurate with the quality, scarcity, and current market value of the material. Please include your phone number with any material sent, for an immediate reply. Under $400 ship insured/first class, over $400 ship registered for full estimated value. ANA SPMC PMCM IBNS CSNA NASC TOM KNEBL, INC. BOX 5043 SANTA ANA, CA 92704 (714) 751-6608 SOCIETY OF PAPER MONEY COLLECTORS INC Wanted To Buy, Georgia Obsolete Currency EAGLE & PHOENIX MFG. CO . 11893), any note. Ellis & Livingston. any note. Farmers Bank of Chattahoochee, any note. Greenwood & Grimes, any note. T.M. Hogan, any note. Insurance Bank, any note. Livery Stables, any note. Manufacturers & Mechanics Bank, $2.00, $3.00, $10.00. Mobile & Girard H.R., any note. MUSCOGEE MFG. CO . (1893), any note. Palace Mills, almost all notes. Phoenix Bank, any note. Planters & Mechanics Bank, any note. Western Bank of Ga., (BRANCH), any note. COOL SPRINGS WILLIS ALLEN (store), any note. CORDELE Crisp County Cotton association (1915). any note. COVINGTON Richard Camp, any note. CUTHBERT Banking House of John McGann, any note. DAHLONEGAH Bank of Darien (BRANCH), any note. Cherokee Bank, any note. Pigeon Roost Mining Co., any note. DALTON Bank of Whitfield. any fractional: "MANOU VIEW' S3.00 & $5.00. Cherokee Insurance & Banking, any Fractional: $2.00, $5.00, $10.00. City Council of Dalton, any note, especially signed. Planters Insurance '1'rust & Loan Co., any note, ESPECIALLY SIGNED. Planters & Mechanics Bank, any F' RA CT IONA L. DARIEN Bank of Darien, any note. DECATUR Scrip, Various issuers, want any note. DUBLIN Laurens County. any note. EATONTON Bank of the State of Ga. (Branch), $50.00. $100.00. ELBERTON Elbert County, any note. FORSYTHE County of Monroe, any note. Monroe R.R. & Banking Co., (Branch), any note. Scrip payable at AGENCY OF THE Monroe R.R. Bank, any note. FORT GAINES Fort Gaines. any note. r•nom a/ A I I L')! Agency Planters Bank (Scrip), any note. GAINESVILLE City of Gainesville, any note. GEORGETOWN John N. Webb, any note. GREENBOROUGH D.B. Lanford, any note. BANK OF THE STATE OF GA. (BRANCH) (RARE) Pay high, any note. BANK OF GREENSBOROUGH, any note. GREENVILLE County of Merriwether, any note. GRIFFIN City Council of Griffin, any note. County of Spaulding, any note. Exchange Bank. any note. Interior Bank. any note. Also CON• TEm PORARY COUNTERFEITS. Monroe R.R. & Banking Co. (Branch), any note. HAMILTON Harris County (HAMILTON NOT ON NOTES). any note. HARTWELL Hart County. any note. HAWKINSVILLE Agency Planters Bank (Scrip), any note. Bank of Hawkinsville, any note. Pulaski County, any note. JACKSON Butts County, any note. JONESBORO Clayton County. any note. JEFFERSONTON (Scrip). any note. LA FAYETTE Western & Atlantic R.R., any note. LA GRANGE LaGrange Bank, any note, — DON'T WANT "RECONSTRUCTIONS." LUMPKIN Stewart County, any note. MACON Bank of Macon, any note, especially notes payable at Branch in Bank of Middle Georgia, any note. BANK OF THE STATE OF GA. (BRANCH), (RARE) PAY HIGH, any note. BILL OF EXCHANGE (issued from Charleston. S.C.) any note, especial- ly signed. Central R.R. & Banking Co. (Branch). any note. City Council of Macon, any note. City of Macon, any note. Commercial Bank, any note. D. Dempsey. any note. Exchange Bank (1893), any note. Insurance Bank, any note. Macon & Brunswick R.R., $3.00 & higher. Macon & Western R.R., any note. Manufacturers Bank. any Fractional: $10.00, $20.00, $50.00. $100.00. The following is my want list of Georgia obsolete currency. I will pay competitive and fair prices for any Georgia notes. I will buy virtually any Georgia note, so if you have anything Georgia please write, or send for offer, subject of course to your approval. I also sell duplicates. I am working on a book listing Georgia obsolete currency, and will appreciate any help, if you have unusual or rare Georgia notes. claud murphy, jr., p.o. box 15091, atlanta, georgia 30333 telephone (404) 876-7160 Page 374 Whole No. 90 6 ovesorza•S*40-041404■04"14PIV111040"0 FOR SALE CURRENCY FOR SALE U.S.A. LARGE & SMALL SIZE CURRENCY INCLUDING: NATIONAL CURRENCY OBSOLETE CURRENCY RADAR & FANCY SERIAL NUMBER NOTES "ERROR" NOTES & OTHER TYPES LARGE MAIL LISTING AVAILABLE FOR A LARGE-SIZE, SELF-ADDRESSED STAMPED ENVELOPE. 10-DAY RETURN PRIVILEGE. YOUR SATISFACTION GUARANTEED . ROBERT A. CONDO P.O. BOX 985, VENICE, FL 33595 BRNA SPMC SCNA ANA Confederate & Obsolete Notes BUY-SELL-APPRAISALS Please contact us if you have one item or a collection. Top prices paid. We want to buy your notes! If you collect we offer our ex- tensive list of notes for $1.00. refundable with purchase. Krause publication s ANN & HUGH SHULL P.O. BOX 712 LEESVILLE, S.C. 29070 CUSTOMER SERVICE ROO 803/532-6747 Ptil3 3ferep National Bank Currency ZE113.11TCT) I am interes ed in small & large size Nationals for my personal collection from the following towns in Berger: County & will pay the highest prices to get them. Allendale Fort Lee Bergenfield Garfield Bogota Glen Rock Carlstadt Hackensack Cliffside Park Hillsdale Closter Leonia Dumont Little Ferry Engelwood Lodi Edgewater Lyndhurst Fairview North Arlington Palalsades Park Ridgefloid Park Ridgewood Rutherford Ramsey Tenafly Westwood Wyckoff West Englewood eastern Coln extbange C) ANA LM 709...• PH 201 342-8170 74 Anderson Street Hackensack, N.J. 07 60 1 MINNESOTA NATIONALS Wanted for my Collection Halstad 7196 Perham 6276 New Ulm 631,2318 Chatfield 6608 Lake City 1740 Fertile 5988,6693 Rochester 2316 Springfield 8269 Sauk Centre 3155 Red Lake Falls 3659, 9837 Olivia 9063, 13081 Madison 6795, 13561 Breckenridge 4644,6335 Appleton 4831,8813 Deer Creek 7268, 13303 Kasson 2159,4969 Lanesboro 10507 Pine City 11581 Stewartville 5330 Grand Meadow 6933 Minnesota Lake 6204,6532 Long Prairie 6208 Big Lake 11611 Roseau 11848 Saint Charles 6237 Cold Springs 8051 Little Fork 11863 Campbell 6259 Buffalo 11023, 12959 If you have any other good ones for sale, please write to: GARY E. KRUESEL 2302- 17 1/2 St. N. W. Rochester, MN 55901 Paper Money SELL HARRY YOUR MISTAKES Harry wants to buy Currency Errors Also Interested in Buying Nationals ... Large and Small size Uncut Sheets Red Seals Type Notes Unusual Serial numbers HARRY E. JONES PO Box 30369 Cleveland, Ohio 44130 216-884-0701 BANKNOTES ARE OUR BUSINESS IF YOU ARE SELLING: We are seriously interested in acquiring large size and scarcer small size United States paper money. We are interested in single items as well as extensive collections. We are especially in need of national bank notes and we also buy foreign paper money. If you have a collection which includes both paper money and coins, it may prove in your best financial interest to obtain a separate bid from us on your paper money as we deal exclusively and full time in paper money. We will fly to purchase if your holdings warrant. IF YOU ARE BUYING: We issue periodic extensive lists of U.S. paper money, both large size, small size and fractional. Our next list is yours for the asking. The VAULT Frank A. Nowak SPMC 933 P. 0. Box 2283 Prescott, Ariz. 86302 Phone (602) 445-2930 Member of: ANA, PMCM Page 375 Page 376 Whole No. 90 CHARLES E. STRAUB P.O. BOX 200 COLUMBIA, CT 06237 Parks f. Itratib FREE OBSOLETE CURRENCY CATALOG WANTED OLD STOCK & BOND CERTIFICATES Especially need OLD RAILROAD BONDS & ALL PROOF & SPECIMEN BONDS Buy 1 to 10,000 Absolutely highest prices paid Also Trade! David M. Beach Box 5484 Bossier City, LA 71111 (318) 865-6614 WANTED LARGE SIZE U.S. PAPER MONEY MUST BE CRISP UNCIRCULATED OR RARE TOP PRICES PAID ALSO BUYING: NATIONALS, OBSOLETE CONFEDERATE AND COLONIAL PAPER MONEY PLUS COIN COLLECTIONS AND ACCUMULATIONS CALL, WRITE OR SHIP TODAY WANT LISTS SOLICITED STEVE MICHAELS P.O. Box 27, Maple Glen, PA 19002 (215) 628-2925 ANA (91) SPMC If You Want To Buy Or Sell Texas Or Confederate Material Try Us D.S. & R.L. Higgins Inc. 713-481-4436 P.O. Box 53373 Houston, TX 77052 Current List Available for $1, refundable with first order (87) WANTED OBSOLETE PAPER MONEY “T'in OW Ski & CO. 0 O,OkkAlita. (Bank Notes, Script, Warrants, Drafts) of the AMERICAN WEST Oregon, California, Idaho, Nevada, Arizona, Utah, Montana, New Mexico, Colorado, Dakota, Deseret, Indian, Jefferson Territories! Cash paid, or fine Obsolete Paper traded. Have Proof notes from most states, individual rarities, seldom seen denominationals, Kirtlands, topicals; Colonial, Continental; CSA, Southern States notes and bonds. Also have duplicate West- ern rarities for advantageous trade. JOHN J. FORD, JR. P.O. DRAWER 706, ROCKVILLE CENTRE, N.Y. 11571 • P. 0. BOX 135DON OLMSTEAD, FLORIDA NOTES WANTED ALL SERIES Also A Good Stock Of Notes Available P.O. BOX 1358 WARREN HENDERSON VENICE, FLA. 33595 WANTED: RAILROAD STOCKS AND BONDS Absolutely Highest Prices Paid Also Trade. Pre-1915 Needed. Also need other nicely engraved pre-1930 Bonds David M. Beach Box 5484, Bossier City, LA 71111 (318) 865-6614 ANA SPMC London Bond & Share Society WANTED U.S. NATIONAL BANK NOTES and U.S. CURRENCY Will Buy — Any and All Will Sell — List Available Frank R. Trask SPMC, ANA, NECC Phone 603-382-4059 P. 0. Box 453 Exeter, NH 03833 CANADIAN PAPER MONEY SELLING: large Illustrated List Free on Request, Rare Notes To Current Issue 5. BUYING: Why Take Less? We are spe- cialists with many customers and can pay well for your note or collection. CALAIS, MAINE 04619 Paper Money Page 377 UNCUT SHEETS OF TWELVE "Beautiful Crisp New Sheets — The Leaders in Today's Great Rarities" 1935-D $1.00 Silver Certificates Uncut Sheet (12). Clark/Snyder. Of the 100 sheets issued, only 39 sheets recorded as known to exist, in O'Donnell's 6th Edition. Special this month only $2,495.00 1928-G $2.00 Legal Tender Uncut Sheet (12). Clark/Snyder. One-hundred sheets were issued but only 21 known to exist 2,895.00 SPECIAL - This superb pair 4,995.00 UNCUT SHEETS OF EIGHTEEN A word about the great scarcity of Sheets of Eighteen. Shortly after the Hon. George W. Humphrey assumed the office as secretary, thereby succeeding John W. Snyder upon his retirement, he issued an order to stop supplying collectors with Uncut Sheets, thereby ending the great service that was rendered the collectors, students of history and many others for a good many years. We are indeed fortunate to offer the following GEM crisp new sheets which were issued in the first several months of Mr. Humphrey's Secretary Ship. ALL SUPERB CRISP NEW GEM SHEETS 1935-D $1 Silver Certificate. Clark/Snyder. 102 sheets printed but only a few were released. O'Donnell's 6th ed. list only 18 sheets reported $3,495.00 1935-E $1 Priest-Humphrey. Very scarce and in big demand 3,395.00 1953 $5 sigs as last. 100 sheets printed, but number issued is a big question 5,395.00 1953 $10 same sigs. 100 printed, but not many issued 6,495.00 1953 $2 legal. 100 printed, but Very Rare 4,495.00 1953 $5 same sigs. 100 but only a few were issued 4,895.00 SPECIAL — above beautiful SIX sheets. Just this one collection 26,750.00 —Above five Priest/Humphrey sheets 23,950.00 WANTED BUYING WANTED Paying the following top—cash prices for Perfect Crisp New Sheets (12) SILVER CERTIFICATES 1928 $1 Woods/Woodin. RED SEAL. For a gem sheet ... 13,000.00 1928 $1 gem sheet $2,700.00 1928 $2 gem sheet 2,400.00 1928-C $1 gem sheet 16,000.00 1928-C $2 gem sheet 2,900.00 1928-E $1 gem sheet 18,000.00 WORLD WAR II ISSUES 1934 $1 gem sheet 2,900.00 1935-A $1 HAWAII OVERPRINT gem sheet 4,600.00 LEGAL TENDER SHEETS 1935-A $1 NORTH AFRICA gem sheet 4,900.00 TOP BUY PRICES SHEETS OF EIGHTEEN SILVER CERTIFICATES LEGAL TENDER SHEETS 1935-D $1 gem sheet 2,200.00 1953 $2 gem sheet 2,900.00 1935-E $1 gem sheet 2 000.00 1953 $5 gem sheet 3,500.00 1953 $5 gem sheet 3,400.00 NATIONAL UNCUT SHEETS 1953 $10 gem sheet 4,750.00 1st - 2nd - 3rd Charter WRITE We are paying absolutely Top Cash Prices for scarce/rare Large-size Nationals (1st, 2nd, 3rd Charters); Territorials; $100 to $1,000.00 Type Notes in all series. A pleasant quick-cash deal awaits you at BEBEE's, Paper Money Specialists who have served thousands of collectors since 1941. Why not give us a try and become a happy "Bebee Booster", too! Please Add $3.00 (Over $400 add $5.00). 100% Satisfaction Guaranteed. For Immediate Shipment send Cashier's Check or Money Order. (Personal Checks take 20 to 25 Days to Clear our Bank). Nebraska Residents Add Sales Tax. All Offers "Subject to Prior Sale and Change in Price Without Notice". 4514 North 30th Street MEMBER: ANA Life N110-ANS-PNG-SCPN-SPMC-IAPN, Others. 421 < "Pronto Service" Phone 402451-4766 Omaha, Nebraska 68111 Page 378 Whole No. 90 It pays t You know that it pays to look closely when collecting. It does when you are thinking of selling, too. Since you collected with such care, we know you want to be equally as careful when selling. At Medlar's, we take pride in the fact that we've been buying and selling currency for over 25 years. So, we feel we must be doing something right for our many friends and customers. WE ARE BUYING: Texas Currency, Obsoletes and Nationals, Western States Obso- letes and Nationals, U.S. and Foreign Coins. We will travel to you to examine your holdings, Profes- sional Appraisals, or as Expert Witness. Member of SPMC, ANA, PNG, NLG, CPN edctit's RARE COINS and CURRENCY (BESIDE THE ALAMO) 220 ALAMO PLAZA SAN ANTONIO, TEXAS 78205 (512) 226-2311 BOOKS THE 'DESCRIPTIVE REGISTER OF GENUINE BANK NOTES by Gwynne & Day 1862. 168 pp Cloth bound. 1977 reprint by Pennell Publishing Co. $15.00 postpaid. This book contains descriptions of over 10,000 genuine bank notes from 31 states and terri- tories plus 24 Canadian banks. It also identifies notes known to have been counterfeited. The names and locations of over 800 closed banks are included in the supplements. It is believed that this book was the basis of the famous Wismer Lists published by the ANA 50 years ago. A must for collectors and researchers of obsolete notes. We bound 10 copies in genuine leather and interleaved them with plain pages (for your own notes) and offer them subject to prior sale for $60.00 each. HODGES' AMERICAN BANK NOTE SAFE-GUARD by Edward M. Hodges 1865. 350 pp Cloth bound. 1977 reprint by Pennell Publishing Co. $19.50 postpaid. "Hodges' " as this book is known, contains descriptions of over 10,000 genuine notes from 30 states, 19 Canadian banks, and the United States notes issued prior to 1865. This 1865 edition was copyrighted in 1864 and at this time the United States was at war with the Confederate States. As a result the listing for six Southern states was not included because they were not a part of the United States. Louisiana was included as in 1864 it was occupied by Union troops under the infamous General Butler. West Virginia was added to this edition as it seceded from Virginia and join the Union in 1863. We have added a section from the 1863 edition (copyrighted in 1862) containing the six states deleted from the 1865 edition making this reprint the most comprehensive Hodges' ever printed. The format used consists of three rows of ten notes listed in rectangles on each page. To quote from E.M. Hodges "The SAFEGUARD is almost indispensable." Collectors will agree with him. We bound 10 copies in genuine leather and interleaved them with plain paper (for your own notes) and offer them subject to prior sale for $75.00 each. THE BANK OF THE STATE OF SOUTH CAROLINA by Dr. F. Mauldin Lesesne 1970. 221 pp Hand bound. University of South Carolina Press $14.95 postpaid. The South had many colorful banks prior to the Civil War, but few could compare with the Bank of the State of South Carolina. From its charter in 1812 until 1881 when its history ended, it was colorful, controversial, and redeemed its issued notes. The "faith and credit" of the State of South Carolina was pledged to back this bank. Dr. Lesesne's account of this bank is interesting reading to both collector of paper money and historical students. Few banks have such detailed accounts of their life as the Bank of the State of South Carolina. The book is annotated and has a wonderful bibliography. If you only read one bank history, and should read this one as it will interest both South Carolinians and non-Carolinians alike. It is just an excellent story of a very important bank. PENNELL PUBLISHING COMPANY P.O. Drawer 858 Anderson, South Carolina 29622 *S.C. residents add 4% S.C. sales tax.