Paper Money - Vol. XL, No. 5 - Whole No. 215 - September - October 2001

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CANADA 4fEN • DIX CD1_1__, \RS `,1)*VoihL-.4W _ • ( ,afrat id,zir 1,1, a 94 1 HAWS AROUND THE WORLD IN 80 PAGES Official Journal of the Society of Paper Money Collectors VOL. XL, No. 5 WHOLE No. 215 SEPTEMBER/OCTOBER 2001 WWW.SPMC.ORG CELEBRATING SPMC's "NEW WORLD OF CURRENCY" A MILLENNIUM OF WORLDWIDE PAPER MONEY OUR FIRST INTERNATIONAL DOUBLE ISSUE What's The Best Way To Sell Your Paper Money Collection? The best way to sell your collection is to consign it to someone you trust. Your currency collection probably took years to acquire. Each purchase was thoughtfully considered, each note carefully stored, and handled with respect. The sale of your collec- tion should be accomplished in the same manner. Carefully, and thoughtfully. At Smythe, we care about our consignors, our bidders, and our staff members. We don't misgrade your lots, or sell them long after midnight, or during convention hours. We strongly support the show organizers and local clubs that work hard to make paper money shows successful, and we are proud that we have consistently been selected as one of the Official Auctioneers of the Memphis International Paper Money Show. We illustrate every major note, using boxes or color where appropriate. Each note is carefully graded and researched by our nationally-recognized, full-time paper money experts. Our rates are flexible and highly competitive. There are no lot charges, photo charges or minimum charges on Federal Currency. If you are thinking of selling, take advantage of the strongest currency market we have seen in years, and take this opportunity to showcase your better single items, or your entire collection, in the next R. M. Smythe auction. See Us At Close To 40 Shows This Year! We will be planning to attend almost every major numismatic show, represented by Stephen Goldsmith, Douglas Ball, Kevin Foley, or Martin Gengerke. If necessary, we will travel to see your collection. Call 800-622-1880 for further information. Stephen uolasmitn farvib, MEMBER 26 Broadway, Suite 271, New York, NY 10004 • www.rm-smythe.com 2001 Auction Schedule • January 18-21, 2001 • February, 2001 • March 1-2, 2001 • May, 2001 • June, 2001 14th Annual Strasburg Stock & Bond Show & Auction, Strasburg, PA. Stock & Bond Mail Bid Only Auction, New York, NY Chicago Paper Money Expo & Auction, Chicago, IL Autographs & Coins Auction New York, NY. Memphis International Paper Money Show & Auction, Memphis, TN To Consign, please call Stephen Goldsmith at 800-622-1880. To Subscribe: Only subscribers can be fully assured of receiving our fully-illustrated thoroughly-researched catalogues. Do you need to check on the status of your subscription? Call Marie Alberti at 800-622-1880 or 212-943-1880. A one year subscription to all RMS catalogues is $87.50 ($125 overseas). Other subscription plans are available. Call today for further information. TERMS AND CONDITIONS PAPER MONEY is published every other month beginning in January by the Society of Paper Money Collectors (SPMC). Second-class postage is paid at Dover, DE 19901. Postmaster send address changes to Secretary Tom Minerley, P.O. Box 7155, Albany, NY 12224-0155. 0 Society of Paper Money Collectors, Inc., 2001. All rights reserved. Reproduction of any article, in whole or in part, without express written permis- sion, is prohibited. Individual copies of this issue of PAPER MONEY are available from the Secretary for $4 postpaid. Send changes of address, inquiries concerning non-delivery, and requests for additional copies of this issue to the Secretary. MANUSCRIPTS Manuscripts not under consideration elsewhere and publications for review should be sent to the Editor. Accepted manuscripts will be published as soon as possible; however, publication in a specif- ic issue cannot be guaranteed. Include an SASE for acknowledgment, if desired. Opinions expressed by authors do not necessarily reflect those of the SPMC. Manuscripts should be typed (one side of paper only), double-spaced with at least 1-inch margins. The author's name, address and telephone number should appear on the first page. Authors should retain a copy for their records. Authors are encour- aged to submit a copy on a 3 1/2-inch MAC disk, identified with the name and version of software used. A double-spaced printout must accompany the disk. Authors may also transmit articles via e- mail to the Editor at the SPMC web site (fred@spmc.org ). Original illustrations are pre- ferred. Scans should be grayscale at 300 dpi. Jpegs are preferred. Inquire about other formats. ADVERTISING • All advertising copy and correspondence should be sent to the Editor • All advertising is payable in advance To keep rates at a minimum, all advertising must be prepaid according to the schedule below. In exceptional cases where special artwork or addi- tional production is required, the advertiser will be notified and billed accordingly. Rates are not com- missionable; proofs are not supplied. Advertising Deadline: Copy must be received by the Editor no later than the first day of the month preceding the cover date of the issue (for example, Feb. 1 for the March/April issue). With advance approval, camera-ready copy, or electronic ads in Quark Express on a MAC zip disk with fonts sup- plied, may be accepted up to 10 days later. ADVERTISING RATES Space 1 time 3 times 6 times Outside back cover $375 $990 $1800 Inside cover 315 825 1500 Full page 250 660 1200 Half page 125 330 600 Quarter page 65 165 300 Eighth page 35 85 150 Requirements: Full page, 42 x 57 picas; half-page may be either vertical or horizontal in format. Single-column width, 20 picas. Except covers, page position may be requested, but not guaran- teed. All screens should be 150 line or 300 dpi. Advertising copy shall be restricted to paper cur- rency, allied numismatic material, publications, and related accessories. The SPMC does not guar- antee advertisements, but accepts copy in good faith, reserving the right to reject objectionable material or edit copy. SPMC assumes no financial responsibility for typo- graphical errors in ads, but agrees to reprint that portion of an ad in which a typographical error occurs upon prompt notification. • PAPER MONEY • September/October • Whole No. 215 277 Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XL, No. 5 Whole No. 215 SEPTEMBER/OCTOBER 2001 ISSN 0031-1162 FRED L. REED III, Editor, P.O. Box 793941, Dallas, TX 75379 Visit the SPMC web site: www.spmc.org IN THIS ISSUE INTERNATIONAL FEATURES American Bank Note Company Issues in Russia 279 By Michael Haritonov Welcome to 'A New World of Currency;' Paper Money Goes International 280 Exchange Bank of Colon: A Review of Panama's Second Bank 294 By Joaquin Gil del Real Silver Certificates of Cuba Made by the U.S. BEP: 1934-1949 298 By Neil Shafer An Early Counterfeiting Case in China 308 By Robert McCabe Work Done for ABNCo By James D. Smillie from 1858-1879 311 Compiled by Gene Hessler and Mark Tomasko There Can Be Beauty 315 By Nelson Page Aspen A Gift Fit for a Czar: An ABNCo Presentation Book 319 By William L.S. Barrett & Gene Hessler Many Nations Honor Musicians on Notes, Part 2 334 By Gene Hessler Canadian Journey Notes Launch a New Century 338 By Harold Don Allen The Other Battleship Note 344 By Wendell Wolka SOCIETY NEWS Information & Officers 281 Now Available: Official SPMC Membership Badges 318 Death Claims Stephen R. Taylor 316 President's Column 336 By Frank Clark Research Exchange 342 SPMC Board Meeting, June 16, 2001 346 New Members 352 SPMC Members Teach Paper Courses at ANA Summer Seminar 352 SPMC Donations Increase for Member Year 2001 354 Editor's Notebook 354 ON THE COVER From an unknown counterfeiter who produced the first bogus paper money 10 centuries ago in China to the Bank of Canada which released its spectacular new $10 note only months ago, PAPER MONEY spans the globe in search of syn- graphic vistas. Have a look for yourself; you might enjoy the view. (Illustrations courtesy Ontario Science Centre, Harold Don Allen, and Joaquin Gil del Real) SOCIETY OF PAPER MONEY COLLECTORS INC. 278 September/October 2001 • Whole No. 215 • PAPER MONEY Society of Paper Money Collectors The Society of Paper Money Collectors (SPMC) was orga- nized in 1961 and incorporated in 1964 as a non-profit organi- zation under the laws of the District of Columbia. It is affili- ated with the American Numismatic Association. The annual SPMC meeting is held in June at the Memphis IPMS (International Paper Money Show). Up-to-date information about the SPMC and its activities can be found on its Internet web site www.spmc.org . MEMBERSHIP—REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral character. Members of the ANA or other recognized numismatic societies are eligible for member- ship; other applicants should be sponsored by an SPMC member or provide suitable references. MEMBERSHIP—JUNIOR. Applicants for Junior membership must be from 12 to 18 years of age and of good moral character. Their application must be signed by a parent or guardian. Junior mem- bership numbers will be preceded by the letter "j," which will be removed upon notification to the Secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or vote. DUES—Annual dues are $24. Members in Canada and Mexico should add $5 to cover postage; members throughout the rest of the world add $10. Life membership—payable in installments within one year is $500, $600 for Canada and Mexico, and $700 elsewhere. Members who join the Society prior to October 1 receive the magazines already issued in the year in which they join. Members who join after October 1 will have their dues paid through December of the following year; they also receive, as a bonus, a copy of the magazine issued in November of the year in which they joined. Dues renewals appear in the Sept/Oct Paper Money. All checks should be sent to the Society Secretary. OFFICERS ELECTED OFFICERS: PRESIDENT Frank Clark, P.O. Box 117060, Carrollton, TX 75011-7060 VICE-PRESIDENT Wendell A. Wolka, P.O. Box 569, Dublin, OH 43017 SECRETARY Tom Minerley, P.O. Box 7155, Albany, NY 12224-0155 TREASURER Mark Anderson, 335 Court St., Suite 149, Brooklyn, NY 11231 BOARD OF GOVERNORS: Benny ). Bolin, 5510 Bolin Rd., Allen, TX 75002 C. John Ferreri, P.O. Box 33, Storrs, CT 06268 Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231 Ronald L. Horstman, 5010 Timber Ln., Gerald, MO 63037 Arri "AJ" Jacob, P.O. Box 1649, Minden, NV 89423-1649 Judith Murphy, P.O. Box 24056, Winston-Salem, NC 27114 Fred L. Reed III, P.O. Box 793941, Dallas, TX 75379-3941 Robert Schreiner, P.O. Box 2331, Chapel Hill, NC 27515- 2331 Steven K. Whitfield, P.O. Box 268231, Weston, FL 33326 APPOINTEES: EDITOR Fred L. Reed III, P.O. Box 793941, Dallas, TX 75379-3941 CONTRIBUTING EDITOR Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231 ADVERTISING MANAGER Robert Schreiner, P.O. Box 2331, Chapel Hill, NC 27515-2331 LEGAL COUNSEL Robert J. Galiette, 3 Teal Ln., Essex, CT 06426 LIBRARIAN Richard J. Balbaton, P.O. Box 911, North Attleboro, MA 02761 MEMBERSHIP DIRECTOR Frank Clark, P.O. Box 117060, Carrollton, TX 75011-7060 PAST PRESIDENT Bob Cochran, P.O. Box 1085, Florissant, MO 63031 1929 NATIONALS PROJECT COORDINATOR David B. Hollander, 406 Viduta PI, Huntsville, AL 35801-1059 WISMER BOOK PROJECT COORDINATOR Steven K. Whitfield, P.O. Box 268231, Weston, FL 33326 BUYING AND SELLING CSA and Obsolete Notes CSA Bonds, Stocks & Financial Items 60-Page Catalog for $5.00 Refundable with Order ANA-LM SCNA PCDA CHARTER MBR HUGH SHULL P.O. Box 761, Camden, SC 29020 (803) 432-8500 FAX (803) 432-9958 SPMC LM 6 BRNA FUN l'0011APCIVEHNIAA Fitil KA P1.314101BALTA KIUMNIAL 61UIC1414630fl01Y1B Oreffitit4tHIR (IP.%314RIIIPWWCAIMITI ficao elOA ER 41/01/0 ..111.2.4 101, . , a PAPER MONEY • September/October 2001 • Whole No. 215 279 American Bank. Note C Issues in Russia BY MICHAEL HARITONOV D URING WORLD WAR I, THE LAST RUSSIAN CZAR,Nicholas II was deposed, and by February 1917 the so-calledRussian Provisional Government had taken power. Deep financialcrisis and inflation was rampant, and as a result, there was a great demand for a large amount of new bank notes. The Russian Provisional Government solicited printers in London, Paris and New York for a new series of bank notes and state loan certificates. An order was eventually placed with the American Bank Note Company of New York. The series of new credit notes was to consist of 50 Kopeks ND, 25, 50, 100, 250, 500 and 1000 Rubles 1918 (PS828, P38 through 40, 40A, 40B, and 40C. As reference the author used the Standard Catalog of World Paper Money, 7th edition, volumes 1 and 2). The 50 Kopeks ND, 25 Rubles 1918, 100 Rubles 1918 and some loan certificates were printed first, and shipped to the Russian seaport of Vladivostok in the Far East. This was the safest means of transport at this time, since the German Navy was operating in the Baltic Region. The notes would then have to travel by rail to the Capital at St. Petersburg. However, by the time the notes had arrived in Vladivostok, the Russian Provisional Government had been over- thrown by the Bolshevik party (Communists) led by Lenin. The Russian Provisional Government had lasted only seven months. Further relationship with the American Bank Note Company by the Moscow Government (note: by the beginning 1918 the German front approached St. Petersburg; that's why the Government moved to Moscow city, which was officially declared as Russian capital in March 12, 1918) was termi- nated. As a result the 50 Rubles 1918, 250 Rubles 1918, 500 Rubles 1918 and 1000 Rubles 1918 notes were never printed. They exist only as specimens and Figure 1 September/October 2001 • Whole No. 215 • PAPER MONEY Welcome to "A New World of Currency" Paper Money Goes International As promised in recent months, our 1st annual International double issue is jam- packed. And at 80 pages -- this is the second largest issue of Paper Money ever! Only our 40th anniversary issue was larger. Thanks to all the authors and advertisers who have made this issue a great success. We have many new advertisers in this issue, please patronize them and tell them you saw their ad here! Readers' comments on this new concept are wel- come. Please write the Editor. In addition to our annual fall international issue, we are planning a series of topical issues for the future. The first one is coming up soon: next issue (Nov/Dec) to mark the 60th anniversary of World War II and Pearl Harbor. In 2002 addi- tional topical issues will appear on National Bank Notes and Confederate Currency. Special articles and advertising opportunities are planned. Stay tuned .. . 280 r r. $40 ,VW, IV, A.,, 1,t PAPER MONEY • September/October 2001 • Whole No. 215 281 proofs. Until recently, they have been considered extremely rare (P39, 40A, 40B, 40C). However, with some specimens and proofs from the American Banknote Company archives finding their way to the market place, it has been possible to find the set of four notes for about $4,500. It is interesting to note that the vignette depicted at the center of the 100 Rubles note (P42) (Figure 1) is Ceres, an allegorical figure representing Agriculture. This vignette was very popular and was used widely by ABNCo. In its earliest form, it can be found on the Columbia 50 Pesos, 1 October 1881 note issued by Banco Hipotecario (PS514) and later overprinted by the Banco Nacional as a Provisional issue 50 pesos, 30.10.1899 (PS639); Banco Pendario de Soto 5 pesos, 1.01.1884 (PS796). Also, the Ecuador 10 Pesos, 2.01.1880, note issued by Banco de Quito (PS243); the Guatemala 25 Pesos, ND (ca. 1888) bank note issued by Tesoreria Nacional de Guatemala (PS205); the Haiti 2 Gourdes, Loi du 6 October 1884, note (P78); the Mexico 10 Pesos, 1897-1913, note issued by Banco de San Luis Potosi (PS400); the Nicaragua 50 Pesos, 6 November 1888, note issued by Banco Agricola-Mercantil (PS111); and the Venezuela 30 Bolivares, 188- note issued by Banco de Carabobo (PS102). A little later, this vignette was modified slightly. It is the modified ver- sion that is found on the 100 Rubles note, as well as on: the Costa Rica 100 Pesos, 1 July 1887 note issued by El Banco de la Union (PS227); and the Ecuador 5 Sucres 1928-1938 note (P84). The rest of the bank notes from the series have vignettes that also consist of the elements in use by the American Bank Note Company prior to this time. A sitting woman depicted on the 250 Rubles 1918 (P42A) places her hand over a large globe. The image first appeared on 100 Pesos issued by El Banco Agricola Commercial in El Salvador (PS107). The Bank name together with goods surrounding the woman clearly represents World Commerce. Other allegorical figures appear: two women are on 50 Rubles 1918 (P41); and a woman with two children in center of 500 Rubles 1918 (P42B). Undoubtedly those designers who worked for the American Bank Note Company were uncommon admirers and popularizers of woman's beauty and grace. Were the words "No bank note without woman depicted!" their motto? One more representation of womanhood was placed on the last bill of the series: the 1000 Rubles 1918 (P42C). Apparently because it was largest face Figure 2 l'OCYAAPC710011,11i 6AltAlo PA311112012BAET14 1404/1)1710,1E 61012261 HA 20/107210 MOHETY 6031.011 ,AHMA.H1/1CY11110,1 (I PY6711a — Y,, ,141031:044,.09044i4n. 1 7,424 AnnEA so.R010. 282 September/October 2001 • Whole No. 215 • PAPER MONEY Figure 3a ,j7l■-1-11t1 Figure 3b value, the picture had a special significance. A woman majestically sitting on a large throne with shining globe in her hand looks like a true queen. The American Bank Note Company had used this figure on 25 Pesos (Dollars) 31.01.1912 (PS 155) issued by Banco Nacional de Santo Domingo. There is only one note in this series that has a picture with special fea- tures representing national character. This is common note 25 Rubles 1918 (P40) (Figure 2). A sitting woman leans on a shield with the following picture on it: Russian double-headed eagle without crown and other monarch regales is depicted above the Duma (parliament) building in St. Petersburg which is sur- rounded by a wreath of laurels. Most likely this picture of the Duma building was copied from the 1000 Rubles bill (the bank note that bears three swastikas on reverse) issued by Russian Provisional Government in 1917 (P37) (Figure 3). Another national characteristic of 25 Rubles 1918 (P40) is Isaac Cathedral in St. Petersburg, the stately structure built in 1858. Its height is more than 330 MEL STEINBERG & SON Free Price Lists Large Inventory of World Bank Notes Buying Collections, Duplicates, Individual Notes Paying High Prices for Asian and British Commonwealth Notes P.O. Box 752 San Anselmo, CA 94960 Phone (415) 453-9750 Fax (415) 457-4432 E-mail: melswpm@nbn.com or jeremys66@home.com Tao 4 Weaftaate zioledpafrxi,ve.# Specialist in Rare MPC & Replacements, Africa, Europe, German & French Notgeld, Commonwealth & the Americas An Extensive Inventory from A to Z Rarities and Bulk Modern Uncirculated Notes Always Required. Retail & Wholesale Lists Upon Request Wants Lists Actively Solicited & Worked P.O. Box 1075 Adelaide St. Post Office Phone & Fax (416) 445-0286 Toronto, Ontario, Canada M5C 2K5 E-mail: iam@total.net Life Member SPMC, IBNS, ANA, CNA, NI, CPMS PAPER MONEY • September/October 2001 • Whole No. 215 283 11M1510Tb X0>KilEHIE HAPABHb Cb PA3MIHNOCI CEPESPAHOR MOMETOR.,. LS411•1S401C44111 LS41' LS4D ISO:1154► . S41 LS4► :S417- 0.541 IS4111.:44) LS41 LS4D :SOU' Figure 4a ..... .. V'. Figure 4b 284 September/October 2001 • Whole No. 215 • PAPER MONEY feet. The Cathedral is seen behind and left of the sitting woman. Shortly after the Bolsheviks (Communists) took power, Russian Civil War broke out and the immense empire split up into innumerable states, autonomies, independent territories, cities, districts, and villages with their own governments and money. The paper money that was in circulation in these territories of the former empire in 1917 — 1924 has been catalogued to include more than two thousand different notes. The delivered American Bank Note Company notes and loan certificates were eventually utilized in Siberia and the Russian Far East by local Territorial Governments. In November 1918, Admiral Alexander Kolchack declared himself as "The Supreme Ruler of Russia." Actually he became dictator of the state situ- ated in Ural, Siberia, and the Far East with his capital in Omsk city. The state that he ruled had an area which was larger in size than the whole of Western Europe. In December 23, 1918, the American warship Sheridan arrived at the seaport of Vladivostok. She brought a load of loan certificates and 50 Kopeks bills produced by ABNCo. (Figure 4) Kolchack's administration agreed to pay for bank notes and loan certificates ordered by Russian Provisional PAPER MONEY • September/October 2001 • Whole No. 215 285 CHECK THE "GREENSHEET" GET 10 OFFERS THEN CALL ME FOR WRITE) FOR MY TOP BUYING PRICES The Kagin name appears more often than any other in the pedigrees of the rarest and scarcest notes (U.S. Paper Money Records by Gengerke) BUY ALL U.S. CURRENCY Good to Gem Unc. I know rarity (have handled over 95% of U.S. in Friedberg) and condition (pay over "ask" for some) and am prepared to "reach" for it. Premium Prices Paid For Nationals (Pay 2-3 times "book" prices for some) BUY EVERYTHING: Uncut Sheets, Errors, Stars, Special Numbers, etc. I can't sell what I don't have Pay Cash (no waiting) - No Deal Too Large A.M. ("Art") KAGIN 505 Fifth Avenue, Suite 910 Des Moines, Iowa 50309-2316 (515) 243-7363 Fax: (515) 288-8681 At 81 Now is The Time - Currency & Coin Dealer Over 50 Years I attend about 25 Currency-Coin Shows per year Visit Most States (Call, Fax or Write for Appointment) Collector Since 1928 Professional Since 1933 Founding Member PNG, President 1963-64 ANA Life Member 103, Governor 1983-87 ANA 50-Year Gold Medal Recipient 1988 1416P4v •'N • oroorow o0•0* Pt* • f .40 ,o• 4to io • * * ** * • • •• o.fo • v.v.* • yetidel l I AVISIO 40 C1414ii" 1j .1.71- .or • low woo Otomosoo o•l$10 111410410, UDC) 44,41111 Riau su4o •1►410 114111101 • • • • • •• • • •It 0611 ■; ■.' $ IP • ". Ipoimo 286 September/October 2001 • Whole No. 215 • PAPER MONEY Figure 5 Figure 6 Government. Soon 50 and 100 Rubles bills arrived too. The bank notes from the first consignment have no signatures. Later the samples of signatures of State Bank Director Rozhkov and Cashier Tolstovtsev were sent to USA (Figures 5 and 6). Amongst the bank notes that were placed into circulation was the "Treasury Token" 50 Kopeks ND (1919) (PS828) originally printed by the American Banknote Company and shipped to Vladivistok for the Russian Provisional Government. Additionally, the constant money shortage forced the Kolchack Government to utilize both the certificates of the state internal 4.5 % lottery loan of 1917 and the loan's torn-off coupons, which were origi- nally printed for the Russian Provisional Government, as bank notes. All of these certificates and coupons were produced by ABNCo (PS881 - PS892). Usually, a stamp of the local branch of the State bank that issued the given note was placed on the obverse. The Standard Catalog of World Paper Money by A. Pick volume 1, 7th edition lists notes with the Irkutsk Branch stamp only; however, also existing are four more branches that stamped bank notes as well: (Blagoveshchensk, Chita, Krasnoyarsk, and Vladivostok — all of which are listed in the 1995 Russian Catalogue by Peter Ryabchenko as R8551 - 8558a). (On Figure 7, the 4.5% lottery loan of 1917 with stamp of Chita branch of the State bank is depicted). Later, a 5% short-term obligation certifi- cate, 5000 Rubles 1920 which was to be put into circulation as a bank note was to be ordered from the American Bank Note Company (PS870A) by the FOCY,LIAPCTBE H H bI VI BHYTPEHHIH 41/2%Bb1141 - 13131111Hblii 3AEMb 1917 FOZIA. Bblny1110111-Iblii Ha ocHoHatrim 110CTaHOBJleHig BpeN1011Har0 lipasHreabema orb 11-F0 Asryrra 1917 rota. NEAAASEIN FFROMIti. MIWOJIJAIERMAIME.Li, HA IIPE,211)51B14TEJ151. 3aems cett anocens Be rocy,aaperttennyto AO.arOB)110 Kmary none itaanouiems 'T ocyRapernentnnn anyrpennin ,urrupexs rn 110/10B1E1Ott 11p0E0111116111 seneapearnatent ;lames 1917 roaa". B11:10Tbl Cell) satima neuryclinurcren natenneze R Ha ElpOREFIBrrrerst, ACerCnnICTBOMS we 200 py6nett napunareaeneixs. 11naxfzerre nacrontrotro &mere ynacrayere Be saind ,13 Cp :TAIV :so ..sallestolnuinallrum American Bank Note Company: 50 Kopeks ND (1920) (PS1244), 25 Rubles 1918 (1920) (PS1248), 100 Rubles 1918 (1920) (PS1249). The characteristic that distinguished these notes from the notes printed for the Russian Provisional Government notes (P-38 and P-40) and the Kolchack Government issued note (PS-828) was the addition of two signatures placed on the reverse: State Bank Director I. Ivanov and Cashier I. Kovnatsky (Figure 9). In November 1920 the Far Eastern regional representatives met at a con- ference in Chita city. They organized the Far Eastern Republic and Government of the Far Eastern Republic. It was a state that included Amur, part of Pribaikalie (Near Baikal Lake) and Vladivostok regions with the capital in Verkhne-Udinsk (now Ulan-Ude), and later Chita city. By December 1920 the Far East Provisional Government (former Primorskaya Zemskaya Uprava) passed power to the Government of the Far Eastern Republic. Two American Bank Note Company issues, 25 Rubles 1918 (1921) (PS1213) and 100 Rubles 1918 (1921) (PS1214) were supposed to be used with- in the territory. These notes bear a circular red or bronze stamp placed in Vladivostok Printing Company with words "Far East Republic" on the back. They were not issued and exist as proofs only (Figure 10). There exists one Dealers offer views of CICF Inside: coin girt book reviewed hu-S, ive FROM THE PUBLISHERS OF THE STANDARD CATALOG OF WORLD COINS SAVE OVER 50% OFF! PAPER MONEY • September/October 2001 • Whole No. 215 291 6 Monthly Issues $24-5= Just $10.00 Prince Charles unveils 10 cents Each Monthly Issue of World Coin News Brings You • New issues worldwide • The latest auction results • Answers to your questions in World Coin Clinic • Comprehensive Show Calendar • A massive market for buying and selling coins • A FREE "Wanted to Buy" Classified Ad and much more! SUBSCRIBE TODAY! $10 in U.S. Funds Payable By: • International Money Order • International Postal Money Order • Check drawn on U.S. bank To: Krause Publications Circulation Offer .ABA52T 700 E. State St., Iola. WI 54990-0001 U.S.A. Credit Card Customers Call 1-715-445-4612 ext. 720 OFFER ABA52T ‘vc@krause.com • www.coincollecting.net .141:11111411LU6roma PCTBEH H bl KPEGIIITHbill BH/LETT" isilas.s...maarmminn ABATILIATb IIHrb PYWIER V.1.1 30:101,h, X01111, 0.31...XTC11 rocv.worma 1....K111el.bir KM MIMI BMX. NNW. X03.[Illr HO XIX01.1 aancmoo 40.11/10 A A n...Ate SILITT0111.110.11Z ...X.11.1 IMMIX COROXIIIX N.CXXX a:=.2Ernm a al i I I 1:21,_ isamsea.aessic' :FZCS.10.15151115:PaiSt • 7 292 September/October 2001 • Whole No. 215 • PAPER MONEY Figure 10 more 25 Rubles 1918 (1921) (R10556B) note considered to belong to the Far East Republic bank note series. The characteristic of this note is that the date is overprinted with black. Obviously the overprinting was the first attempt to issue bank notes with some distinctive feature. In 1918 the French military mission and the leaders of the Vladivostok branch of the Indo-China Bank requested Alexander Kolchack's permission to issue "Allied money". It was planned for the new currency to be fixed to the French franc in the ratio of 1 Ruble for 0.6 Franc. The plan was approved by Kolchack and then by the French Minister of Finance. The American Bank Note Company was to produce the following bank notes: 5, 25, 100 and 500 Rubles. In August 1919, the General Manager of American Bank Note Company presented Specimens to be approved by the leaders of the Indo- China Bank. But on November 1st, the Communists captured Omsk city. The status had changed, and it was decided not to put the bank notes into circula- tion. The Indo—China Bank notes bear Russian and French text. They exist as Specimens only (PS1256 through 1259). The set of 4 bank notes of the Indo—China bank has recently been showing up for about $5,000. There is one more well known bank note series produced by ABNCo. Although the Pick catalog lists the notes under "China," these are usually included in a collection of Russian bank notes. It is the Harbin issue. In 1897, Russia began to construct the "China Eastern Railway," to shorten the journey across Russia from the European part to the Far East. Simultaneously, Harbin city was founded. Many Russian workers, engineers and their families lived there. However, when the Bolsheviks captured Siberia and the Far East, Russian population in Harbin grew considerably more. Thousands of Russian emigrants who had struggled against the Communists came there. They used the bank notes of the Russo—Asiatic Bank: 50 Kopeks ND, 1, 3, 10 (Figure 11), 100 Rubles ND (PS473, PS 474, PS475, PS476, PS478). These reasonably priced and available notes depict a steam locomotive. So, during the 1918-1920 notes printed by the American Bank Note Company were circulated widely in the Eastern part of Russia. The population trusted in the beautiful and well made bills, even though they were often guar- anteed by nothing but a leader's promises. Most of the mentioned bank notes are inexpensive. Many of them are available. The author appreciates any comments, opinions and additional informa- tion. These may be sent to him at P.O. Box 1436, 40020 Sumy, Ukraine. PAPER MONEY • September/October 2001 • Whole No. 215 293 Figure lla Figure 11 b References for bank notes not listed in the Pick catalogues are taken from The Complete Catalogue of Russian Paper Money and Bills 1769 -1994 by Peter Ryabchenko, Kyiv (1995), designated by the prefix "R". MACERATED MONEY Wanted information on U.S. Chopped up Money. Who made the items, where sold, and anything of interest. Also I am a buyer of these items. Top Prices paid. Bertram M. Cohen, 169 Marlborough St., Boston, MA 02116-1830 E-mail: Marblebert@aolcom 110.10114 _ r-DX411MBit.NK 0444L44,40,144,4r , ///>/fif xt4talLsg ////, ,ity/// / %IC" If( /f/ / Nto., COLON • 294 September/October 2001 • Whole No. 215 • PAPER MONEY Exchange nk of Colo A Review of Panama's Second Bank BY JOAQUIN GIL DEL REAL N THE 25TH OF NOVEMBER 1866, THE PRESIDENT OF the Sovereign State of Panama, issued a Decree "additional and reformatory" to the one of December 30th, 1856, which in its 1st article says: "Items that are to be mortgaged as guarantee for bank notes of a Bank that is to be established in a certain District of the State should be situated in that same District that the Bank has or will have its main office." On the 14th of December, 1866, Vicente Olarte Galindo, President of the State, signed a license authorizing Messrs. Walter Field and Joseph Penso, through their association, Field Penso & Co., to establish a public Bank, to be named Exchange Bank of Colon. The Bank was authorized to issue up to $5,000.00 in Bank bills, guaranteed by a mortgage, according to Deed No. 5, via Notary Public of Colon, Luis Andres Torres, on the 17th of November 1866. Those bills to be issued were: Series 1 Series 2 Series 3 Series 4 The License referred to above appears in the Boletia Oficial of January 1867 2 and the Bank began operations on the 10th of February of the same year. 3 Two years after opening its doors, the Directors of the Bank requested to "be authorized to elevate the emission of bills of the same Bank up to the amount of ten thousand Pesos," which was authorized by Second License dated the 22nd of February 1869, accepting as guarantee the same property that orig- inally covered the initial issue. 4 The year 1869 was not economically spectacular as there are indications of a recession in the Isthmus. On the 24th of July of that year, Messrs. Field, Note: the author's review of Panama's first bank, Banco de Perez y Planas, appered in Paper Money, #188 (March/April 1997) 1,000 of One Peso $1,000 500 of Two Pesos $1,000 500 of Three Pesos $1,500 300 of Five Pesos $1,500 Total $5,000 Exchange Bank of Colon one dollar note printed by Continental Bank Note Co. of New York (absorbed by ABNCo in 1878, now owned by International Bank Note Co.) This note was payable in DOLLARS instead of PESOS, and the country name is spelled COLUMBIA not COLOM- BIA. (Pick S896) • rggiTaiiia=vriAtei",""-TfiliMG:frkirtfifittTAATC.,-k. /1;7, X-/bw //' D7 0990 TOMSMNAillitftt *tat, 21E, nakvara&Mr$N4STN //,, , .49 /, /4" 00, 11inurtl sci3lEti D70990 GOLD CERTIFICATE s'171.71fetnefay),,,,,, aveosimageoEK 1,11.1Z3 I*ZaliD6SCUIRel. +//:)/ki://// (1929443 isautvAiiirt*afttiii (f.ip..mitonimpuetosftyr DID tr, 4,4,/,74 4 4/it ,711,71-rarsu2kr.-9.s. 1...1.11CS SUPERB UNITED STATES CURRENCY FOR SALE SEND FOR FREE PRICE LIST BOOKS FOR SALE COMPREHENSIVE CATALOG OF U.S. PAPER MONEY by Gene Hessler. 6th Edition. Hard cover. 579 pages. The new Edition. $32.00 plus $3.00 postage. Total price $35.00. THE ENGRAVERS LINE by Gene Hessler. Hard cover. A complete history of the artists and engravers who designed U.S. Paper Money. $75.50 plus $3.50 postage. Total price $79.00. NATIONAL BANK NOTES by Don Kelly. The new 3rd Edition. Hard cover. Over 600 pages. The new expanded edition. Gives amounts issued and what is still outstanding. Retail price is $100.00. Special price is $65.00 plus $4.00 postage. Total price $69.00. U.S. ESSAY, PROOF AND SPECIMEN NOTES by Gene Hessler. Hard cover. Unissued designs and pictures of original drawings. $14.00 plus $2.00 postage. Total price $16.00. Stanley Morycz P.O. BOX 355, DEPT. M • ENGLEWOOD, 011 45322 937-898-0114 296 September/October 2001 • Whole No. 215 • PAPER MONEY TWO DOLLAR note (Pick S897). All notes are 31/8 by 71/8 inches, printed in black only. Penso and other residents of Colon, addressed a letter to the "Citizen President of the State" requesting reconsideration of their "urban contribu- tion" (taxes) alluding ". . .but today that this City has passed from a normal state to an alarming crisis due to the decrease of the activities of the railroad company, that is the life and soul of this population without industry.. ." To this request, Buenaventura Correoso, President of the State, answered that the Executive cannot ". . . establish any exceptions other than those autho- rized by the law. . ." 5 (We must keep in mind that the transcontinental rail- road finally united at Promontory Point, Utah on the 10th of May of 1869, which was the primary cause in the decrease of passenger and cargo traffic through Panama and the cause of the recession that afflicted the Isthmus.) EXCHANGE BANK OF COLON. T HE NOTES OF THIS BANK are redeemable at the Office of the undersigned in Panama. N. BRANDON & CO. Panama, July 21, 1867. — lm. 6 Things did not improve. On June 3rd 1873 newspapers carried the notice of Dissolution of Mr. Walter Field from the enterprise, 7 and in November there were notices that drafts, drawn by the Bank, were not being honored in London nor New York, and that the Banks bills were being refused by local merchants or were only accepted at large discounts. 8 Newspaper reports mention that Mr. Field, a wealthy man, had been transferring a great part of his property to other names. They also reported that his son Walter Joseph Field, barely 16 years old and living in London, had become the Field in Field Penso & Co. Other comments mention Mr. Penso as a "protege" of Mr. Field and of no great capital. 9 Upon request of Samuel Piza, arrest orders were issued for Mr. Field and Mr. Penso in December of 1873, while at the same time a lawsuit was entered in New York for a sum exceeding $100,000. 10 The following year, Ramon Vallarino Brajimo was named to represent the commercial houses of Moses, Levy & Co and of Pedro Nolasco Merino of London, against Field Penso & Co. 11 Jose Maria Vives Leon was chosen to represent the interests of the defendants. 12 On the 27th of April 1874 the creditors came to an arrangement though the details were not given out. 13 As a curious note, on the 6th of July 1885 a note appeared in the Panama Star & Herald requesting all account holders of the Exchange Bank of Colon to "present" their bank- books so as to receive final payment. This notice was signed by Walter Joseph Field. ji=12%)131L9531146."Ygiri,st.;-... a? jai-SALL' ift v( 6-0 Calaigit HilifiEr401 .11 1 ) ) k Ill.,CP Ll=0• Algattku.ihtZIKOZIKG PAPER MONEY • September/October 2001 • Whole No. 215 297 Finally, on the 14th of January 1886, the very same Walter Joseph Field sent a note to the person in charge of the Department of Colon, indicating "... have in my possession Bank bills in denomination of one, two and five pesos respectively, representing the total amount of fifty thousand pesos, more or less..." and requesting disposition of same." Bank bills of the Exchange Bank of Colon were printed by the Continental Bank Note Company, New York, and were engraved in strips of one, two, three and five Dollars, not pesos. They carry the inscription "UNITED STATES OF COLUMBIA" instead of COLOMBIA. END NOTES Boletin Oficial, Number 136, December 16, 1866. Archivo Nacional de Panama, Seccion de Historia, Periodo Combiano, Caja Carton Number 902, Vol. 58. 2 Panama Mercantile Chronicle, January 18, 1867. 3 Panama Mercantile Chronicle, February 10, 1867. 4 Boletin Oficial, Number 232, February 25, 1869. 5 Archivo Nacional de Panama, Seccion de Historia, Periodo Colombiano, Cajon 848, Tomo 2096. 6 Panama Mercantile Chronicle, July 21, 1867. 7 Pananza Star & Herald, June 10, 1873. 8 Panama Star & Herald, November 18, 1873. 9 Panama Star & Herald, November 20, 1873. 1° PanaMa Star & Herald, December 13 and 16, 1873. 11 Panama Star & Herald, April 2, 1874. 12 Panama Star & Herald, April 4 and 21, 1874. 13 Panama Star & Herald, April 28, 1874. 14 Archivo Nacional de Panama, Seccion de Historia, Periodo Colombiano, Cajon 873, Tomo 2667. THREE and FIVE DOLLARS notes (Pick S898 and S899). 298 September/October 2001 • Whole No. 215 • PAPER MONEY Silver Certificates of Cuba Made by the U.S. BEP BY NEIL SHAFER 1 T OFTEN COMES AS A COMPLETE SURPRISE TO PAPER money collectors that the United States Bureau of Engraving and Printing was once busily engaged in the production of notes for a foreign government. Yet such an occurrence did take place over a period of 15 years, from 1934 to 1949, and the country involved was Cuba. 1 A. Introduction To understand the reason for such an action, the history of United States-Cuba relations has to be examined. Over the years, the feeling that somehow the United States was going to dominate the island 90 miles from Florida was expressed in words and deeds. Jefferson once propounded the idea that Cuba ought to be a part of the United States. Southerners also tried to have Cuba annexed as a slave state. At various times throughout the 19th cen- tury, business interests intervened to create a dependence of the Cuban sugar economy on the U.S. market, among other actions. During much of this time, the Cubans themselves chafed under a repressive Spanish rule and attempted to free themselves several times through insurrection, such as with the 10 Years' War (1868-78). The most serious revolt against Spain finally broke out in 1895. There was much support in the United States for the Cuban rebels. The blowing up of the Maine served as the ideal pretext for commencement of the Spanish-American War in 1898. It was a short-lived affair, with the peace treaty signed that same year and ratified in 1899. Yet in a somewhat strange turn of events, Cuba was granted nominal freedom, while the Philippines and Puerto Rico became United States territories. Provisions of the treaty gave Cuba status as an independent republic, but under U.S. protection. U.S. military occupation lasted until 1902, at which time the republic was proclaimed. Tomas Estrada Palma became the first pres- ident. That same year Congress passed the Platt Amendment, through which the United States was given the right to intervene in Cuban affairs. Sporadic enforcement of this amendment nurtured corruption in Cuban politics, resulting in a succession of weak heads of state. An ex-army sergeant named Fulgencio Batista y Zaldivar led an uprising with student revolutionaries against Pres. Gerardo Machado in September of 1933. Much internecine fighting then followed, with Batista emerging as the real power behind Cuban politics from then until the advent of Castro in 1959. 1 The Bureau of Engraving also made all regular issue Philippine currency from 1903 through the VICTORY Series (1944-48). It all depends on how the relationship between the United States and the Philippines is defined as to whether or not such work would be considered as having been made for a foreign government. The Philippines constinited a U.S. territory during the time such notes were produced. 02000 LCC. Inc r Y tS! I'm interested in selling paper money to Littleton. Please contact me regarding my collection or holdings. Fill out this coupon and Fax Toll Free to Name (877) 850-3540, or Mail to: Address 'r- 0111Littleton Coin Company Dept. BFS005 1309 Mt. Eustis Road Littleton, N.H. 03561-3735 coinbuy@littletoncoin.corn L City/State/Zip Daytime Phone Best time to call PAPER MONEY • September/October 2001 • Whole No. 215 299 Last Year Alone... Littleton Spent More Than $14 Million on U.S. Coins & Paper Money! Why We Need Your U.S. Paper Money It's simple. We have lots of customers, and because of their collecting needs, WE NEED YOUR PAPER MONEY! We can afford to pay highly competitive buy prices because we retail all the notes we buy. Over 150,000+ Customers Want Your Notes! Wide Range of U.S. Notes Wanted! • Single notes to entire collections • Very Good to Gem • Early large size notes to high denomination small size notes • All types including Legal Tender Notes, Silver & Gold Certificates and more Knowledge and Experience Count — We've Got Both We've earned our reputation as a nationally recognized leader in the numismatic field. And our buying team—with more than 60 years of combined experience in the grading and buying of coins and paper money — has played a crucial role. Why You Should Consider Selling to Littleton • Highly competitive buy prices • Fair appraisals and offers • Fast confirmation and settlement • Finders fees and joint arrangements • Over 50 years experience buying and selling coins and paper money • We welcome the opportunity to purchase your paper money David Sandman, President ANA Life Member #4463; PNG #510; Society of Paper Money Collectors LM#163; Member; Professional Currency Dealers Association Jim Reardon (left) and Butch Caswell, two of Littleton's experienced team of buyers. We welcome the chance to consider your notes! Buyer Phone: (603) 444-1020 Toll Free: (800) 581-2646 Fax: (603) 444-3501 or Toll Free Fax: (877) 850-3540 Teletype: Facts D97 CoinNet NHO7 coinbuy@littletoncoin.com Dun & Bradstreet #01-892-9653 Over 50 Years offfiendly Service to Collectors! lintat Of IA RIPUBL.L. LA ILALIAN . ESTE CE NM ICA t111.1:011:1 VALOR EN PLAZA ACUNNON EWA UEPTISITA00 ENIA TESORERINGENERAL DE LAREN/SUVA. BA ACENTADO UtIMITACION.EN PASO OE LOS INFSION DEL ESTA00 LA PROVINC1N Et 611CTILla O ir irliEDIMIDWINLIO IkvklrAAWL. InliSS060,518.411■11AVALEMML 0Vit PIC 11101.01..."VrArgruirrADOLVTEG_Iltall.IFITA VAINVAIM=1=.rn O^ISPOlilt1101.2.11.6351,10311llIM,LOOM VOLIT: sEnAnscrlarmeLNLoA sr magma. 300 September/October 2001 • Whole No. 215 • PAPER MONEY 1 Peso 1934-1949 face and back design with portrait of Jose Marti and Cuban Arms. Left signature title was changed and both made smaller from 1943-1949. The election of Franklin D. Roosevelt brought a new era of political rela- tions with Cuba. The Platt Amendment was repealed, sugar quotas were revised and tariff rulings were changed to favor Cuba. B. Request for Preparation of Silver Certificates It was against this background that the Cuban government approached the State Department for permission to have a new series of paper currency prepared by the Bureau of Engraving. Until then, the last indigenous Cuban currency had been under Spanish rule, in 1897. An attempt was made in 1905 to create a National Bank issue, but it never came to fruition. Money in circu- lation consisted mostly of U.S. paper plus coins of Cuba struck at Philadelphia at various times from 1915 to 1932. The Law of May 16, 1933, legalized the issuance of Cuban Silver Certificates. On March 2, 1934, M. Marquez Sterling of the Cuban Embassy wrote to Secretary of State Cordell Hull as follows: "I have the honor to state to Your Excellency, that my Government, by Decree-Law No. 93, dated March 2, 1934, made the following deci- sion: "Article I. There is hereby decided the coining of TEN MIL- LIONS OF PESOS SILVER, which shall have the fineness, the toler- ance and the weight established in the Law of October 29, 1914, each coin being stamped with the weight, degree of fineness and year of mint- ing. "Article II. There shall be taken from the funds of the National Treasury, on the proper occasion and in the amount which may be required, the necessary amount in notes (billetes) of the United States of America for purchase of the silver, costs of the minting, insurance and transportation. "Article III. There is authorized the issue of Silver Certificates hay- DERTIFICADD.CLIVO VALOR EN PLATAACUNADA ESTA DEP0011100 EN LAYESDRERIAGENERAL DE LA REPUBLICA. St RAACEPTADO.SIN UMITACIONEN PADD OE 1.05 OMPUESTOS DEL ESTADELLAPROVINCIA Y EL MUNICIP10. O. 4.1 • W PAPER MONEY • September/October 2001 • Whole No. 215 301 ing a total value of TEN MILLIONS OF PESOS, of the following types: Certificates of ONE PESO SILVER, FIVE MILLION OF PESOS. (b) Certificates of FIVE PESOS SILVER, TWO MILLION FIVE HUNDRED THOUSAND (PESOS), that is to say, 500,000 certificates. (c) Certificates of TEN PESOS, ONE MILLION FIVE HUN- DRED THOUSAND PESOS, that is to say, 150,000 certifi- cates. (d) Certificates of TWENTY PESOS, FIVE HUNDRED THOUSAND PESOS, that is to say, 25,000 certificates. (e) Certificates of FIFTY PESOS, FIVE HUNDRED THOU- SAND (PESOS), that is to say, 10,000 certificates. "My Government would desire that the certificates mentioned in Article III, transcribed above, be made by the Bureau of Engraving and Printing of the United States, and for this reason I am taking the liberty of addressing Your Excellency to request you to be so kind as to inform me as to whether this is possible, at the same time advising you that this new service of your Government will be highly appreciated by mine. (Signed) M. Marquez Sterling." C. Acceptance by the United States, and Statement of Policy There was a brief finny of indecision regarding the possibility of compli- ance with this very special request from Cuba. But on April 23, 1934, Treasury Secretary Henry Morgenthau, Jr. gave what seems to have been the initial authorization to proceed with the work. His letter to Hull said the following: ". . .Inasmuch as it is stated in the letter of your Department that it is hoped that the request of the Cuban Government may be complied with, I shall authorize the Bureau of Engraving to prepare the necessary engraved stock and proceed with the printing of the Silver Certificates, on receipt through you from the Cuban Government of the necessary specifications, it being understood that the Cuban Government will reim- burse the Treasury for the cost of the engraved work, paper, and printing. You may advise the Cuban Government to such effect. "The officials of this Department will be pleased to consult with your representatives and those of the Cuban Government regarding spec- ifications and other arrangements for the work." As persistent rumors began to appear early in 1934 that the Bureau of Engraving was in the process of preparing to print notes for a foreign govern- ment, there were immediate objections raised by some of the private bank note 1 Peso Series of 1943 with Fulgencio Batista signature as Presidente at right. 5 Pesos 1934-1949 face with portrait of Maximo Gomez. ME4Cliffig cvacivmcAno uL PI.7110VAL 302 September/October 2001 • Whole No. 215 • PAPER MONEY companies. With the Great Depression in full stride, and with thousands out of work, the very idea that the government would take on such a job seemed ill- advised, to say the least. One such protest sent as a telegram on April 11, 1934, to the Bureau of Engraving is indicative: "HON ALVIN W HALL "UNITED STATES BUREAU OF ENGRAVING AND PRINTING WASHINGTON D C MY DEAR DIRECTOR I HOPE THE BUREAU WILL NOT UNDERTAKE THE MAKING OF CUBAN MONEY WITH OTHER PLANTS IDLE IT DON'T LIS- TEN JUST LIKE 'FAIR COMPETITION' REGARDS" OLIVER A. QUAYLE Quayle and Son Corporation Bank Note Engraving and Printing Ninety Broad St., New York" Whatever merits such protests may have had at the time, they fell on deaf ears at the Treasury Department. Shortly thereafter, Secretary Morgenthau gave his authorization and work was begun at the Bureau as outlined. While there was never any official statement of policy offered for such an action, per- haps the closest thing to it was contained in a letter of October 20, 1947, from Treasury Secretary John W. Snyder. It was written in connection with plans then being made to produce Cuban notes to be dated Series of 1948: "Since. . .it is not the policy of the Treasury Department to com- pete with private industry unless such so-called competition is for the best interest of the Government, it is not deemed advisable to have plates incorporating a change in design as well as make printings from such plates when that Government may engage the services of a private bank note company for the purpose. The original engraving of dies and plates and printing of Cuban currency in 1934 by the Bureau was approved by the Treasury Department because of the special conditions which pre- vailed at that time which made it preferable to have the United States Government perform this service for the Cuban Government. The sub- sequent work...performed since then has been projected upon the princi- ple that it would seem unreasonable to require the Cuban Government to have the services performed elsewhere, until such time as there was a major change in the design of the currency, inasmuch as the dies and plates in the custody of the Bureau of Engraving and Printing could not under any circumstances be released for use by an outside concern. . . ." After notification of the Treasury Department's acceptance of the Cuban proposals, photographs and specifications for the notes were immediately gath- ered and sent to the Bureau of Engraving. By May 11, 1934, preparation of the notes began in earnest. To inspire public confidence in the new currency, the r..1.11e ossaLbotr 1,1413.044. ••• 111,11, 11. ND. 1.1 1.7.1110. 111.411 ArgrIVInft..1M, 1Z2Vist"!;,, PAPER MONEY • September/October 2001 • Whole No. 215 303 Cuban treasury made arrangements to deposit an amount of silver peso coins equal to the face value of the certificates. Accordingly, production of newly minted peso coins to be stored in reserve was begun at Philadelphia late in 1934. This coinage continued through 1939. The pesos were secured in the Guarantee Fund as backing for the certificates which were payable in silver on demand. Very few of them ever saw any actual circulation, and most were sold as bullion in 1951. D. Specifications for Silver Certificate Issues 1934 -49 a. Size: to approximate standard U.S. dimensions, averaging 2 5/8 x 6 1/8 inches. b. Paper: Distinctive from U.S. issues only in that it contains red fibers only, no blue fibers. Manufacturer: Crane and Company, Dalton, MA. Composition: 75% linen, 25% cotton. c. Seals and serial numbers: Red on all issues and denominations. d. Subjects per sheet: Notes to be printed in sheets of 12 subjects. e. Serial numbering scheme: Serial numbers will consist of six digits and have a prefix and suffix letter. They will run in units of one million before the prefix is changed. (The millionth note will have seven dig- its.) The prefix and suffix letters for the first million of each denomi- nation will be A; for the second million the prefix will be B and suffix A, and so on until all letters except 0 have been used as prefixes. If additional numbers are needed, the suffix letter will be changed to B and all the letters... used as before. f. Replacement notes: When a mutilated note is found after the num- bering operation, it will be removed, canceled, destroyed and replaced by a perfect one bearing the same number. Signatures on the notes: Two facsimile signatures; at left the Secretary of Finance (Secretario or Ministro de Hacienda) appears and certain specific arti- cles or laws of authorization for the issue of notes may appear underneath his signature. At right is the signature of the President of the Republic. E. Silver Certificate issues, 1934-49 10 Pesos 1934-1948 face with a por- trait of Carlos Manuel de Cespedes. Series of 1934 Signatures: M. Despaigne* Carlos Mendieta Secretario de Hacienda Presidente de la Republica 1 Peso Face: black on blue tint. Portrait of Jose Marti. Back: blue. Arms at center, surrounded by various ornamental designs and border. All back designs for all Cuban issues of 1-50 pesos are similar in nature. In the lower margin is the logo UNITED STATES BUREAU OF ENGRAVING AND PRINTING. Serial numbers: A000001A-F1000000A 6,000,000 notes. 304 September/October 2001 • Whole No. 215 • PAPER MONEY 5 Pesos Face: black on red-orange tint. Portrait of Maximo Gomez. Back: red-orange. Arms. Serial numbers: A000001A-B500000A 1,500,000 notes. 10 Pesos Face: black on brown tint. Portrait of Carlos Manuel de Cespedes. Back: brown. Arms. Serial numbers: A000001A-A300000A 300,000 notes. 20 Pesos Face: black on olive green tint. Portrait of Antonio Maceo. Back: olive green. Arms. Serial numbers: A000001A-A100000A 100,000 notes. 50 Pesos Face: black on orange tint. Portrait of Calixto Garcia Iniguez. Back: orange. Arms. Serial numbers: A000001A-A030000A 30,000 notes. All the above notes were delivered in 1935. The first 25 sheets of the 1-peso notes were withheld and delivered uncut. The first five sheets of the 5, 10, 20 and 50 pesos were similarly deliv- ered to be signed personally by M. Despaigne, presumably as presentation pieces. *Plates for 1 and 5 pesos notes were first prepared with the signature of Gabriel Landa as Secretario de Hacienda. An order came in to change this signature to that of M. Despaigne, and the change was effected in December, 1934 on all plates for all denominations. A small amount of 1 and 5 pesos had been printed with Landa's signature, before the change was requested (82,224 of the 1 peso and 14,400 of the 5 pesos), but these were never issued. Proof impressions exist in the Smithsonian Institution with Landa's signature. Series of 1936 Signatures: Ricardo Ponce J. A. Barnet Secretario de Hacienda Presidente de la Republica 1 Peso Serial numbers: A000001A-A1000000A 5 Pesos Serial numbers: A000001A-A1000000A 10 Pesos Serial numbers: A000001A -A150000A 1,000,000 notes. 1,000,000 notes. 150,000 notes. 20 Pesos 1934 -1948 face with por- trait of Antonio Maceo. 20 Pesos Serial numbers: A000001A-A075000A 75,000 notes. 50 Pesos Serial numbers: A000001A-A020000A 20,000 notes. All of the above notes were delivered during 1936. f ft MEN/I'd 11./04i411■Si 4:111...11ENTAL.110110:1.01111.% • - PAPER MONEY • September/October 2001 • Whole No. 215 305 100 Pesos* Signatures: Wolter del Rio M. M. Gomez Secretario de Hacienda Presidente de la Republica Face: black on purple tint. Portrait of (Francisco Vicente) Aguilera. Back: purple. Arms at center, view of the Capitol building at left, view of the Cathedral at right. Serial numbers: A000001A-A050000A 50,000 notes, delivered 1937. *The 100 pesos was felt to be a needed addition to the Cuban series, and it was authorized and prepared in 1936. It was not ready for issue in 1936 along with the others. By the time it was finished, there were changes in both signatories, to del Rio and Gomez (as on all 1936 A notes). Since no 100 pesos notes were made with Barnet's and Ponce's signatures, those that were issued had the designation Series of 1936 though bearing the newer signatures of del Rio and Gomez. Series of 1936A Signatures: Wolter del Rio M. M. Gomez Secretario de Hacienda Presidente de la Republica 1 Peso Serial numbers: B000001A —D 1000000A 3,000,000 notes, delivered 1936-37. 5 Pesos Serial numbers: B000001A-B900000A 900,000 notes, delivered 1936. 10 Pesos Serial numbers: A150001A-A400000A 250,000 notes, delivered 1936. 20 Pesos Serial numbers: A075001A-A200000A 125,000 notes, delivered 1936. 50 Pesos Serial numbers: A020001A-A070000A 50,000 notes, delivered 1936. Series of 1938 Signatures: M. Giminez Larrier Federico Laredo Secretario de Hacienda Presidente de la Republica 50 Pesos 1934-1948 face design with portrait of Calixto Garcia Iniguez . 1 Peso Serial numbers: A000001A-L864000A 5 Pesos Serial numbers: A000001A-E808000A 10 Pesos Serial numbers A000001A-B336000A 20 Pesos Serial numbers: A000001A-A700000A 50 Pesos Serial numbers: A000001A-A200000A 100 Pesos Serial numbers: A000001A-Al20000A All the above notes were delivered in 1938-42. 11,864,000 notes. 4,808,000 notes. 1,336,000 notes. 700,000 notes. 200,000 notes. 120,000 notes. FastimallaratztratyptrirrAnotvrEGuvro.N.eumantolovec.IAnrsrhSjaalaik. A452989 A 306 September/October 2001 • Whole No. 215 • PAPER MONEY Series of 1943 Signatures: E. I. Montoulieu Fulgencio Batista Ministro de Hacienda Presidente de la Republica 1 Peso Serial numbers: A000001A-H125200A 5 Pesos Serial numbers: A000001A-D174800A 10 Pesos Serial numbers: A000001A-B615200A 20 Pesos Serial numbers: A000001A-A762000A 50 Pesos Serial numbers: A000001A-A289600A 7,125,200 notes. 3,174,800 notes. 1,615,200 notes. 762,000 notes. 289,600 notes. Romp 10"^1. g :1■ 10141") ionocio. 100 Pesos 1936-1948, face and back design. Portrait of Aguilera. This lovely back design is the only one with additional features besides the Cuban arms at center. At left is the Capitol building, and at right is the Cathedral Plaza. 100 Pesos Serial numbers: A000001A-A198800A 198,800 notes. Series of 1945 Signatures: M. F. Supervielle R. Grau Ministro de Hacienda Presidente de la Republica 1 Peso Serial numbers: H125201A-M882400A 5,757,200 notes. 5 Pesos Serial numbers: D174801A-H120000A 3,945,200 notes. 10 Pesos Serial numbers: B615201A-D584000A 1,968,800 notes. 20 Pesos Serial numbers: A762001A-0008000A 1,246,000 notes. 50 Pesos Two plates approved July 24, 1945. No notes made. Proof impressions exist at the Smithsonian Institution. .......................................................... IL`PV 1•11:41,10 PAPER MONEY • September/October 2001 • Whole No. 215 307 100 Pesos Serial numbers: A198001A-A512000A 313,200 notes. All the above notes were delivered in 1945. Series of 1948 Signatures: Ing. Moreno R. Grau Ministro de Hacienda Presidente de la Republica 1 Peso Serial numbers: 5 Pesos Serial numbers: 10 Pesos Serial numbers: 20 Pesos Serial numbers: 50 Pesos Serial numbers: 100 Pesos Serial numbers: M882401A-X888000A H120001A-J116000A D584001A-F075600A C008001A-0516000A A289601A-A704000A A512001A-A720000A 10,005,000 notes. 1,996,000 notes. 1,491,600 notes. 508,000 notes. 414,400 notes. 208,000 notes. All the above were delivered in 1948. Series of 1949 Signatures: Antonio Prio Socarras Carlos Prio Socarras Ministro de Hacienda Presidente de la Republica 1 Peso Serial numbers: X888001A -C856000B 4,968,000 notes. 5 Pesos Serial numbers: J116001A-L088000A 1,972,000 notes. Both of the above were delivered in 1949. Higher value Silver Certificates (500 and 1000 pesos) were made during 1944-47, but these notes were printed by the American Bank Note Company. The Law of December 23, 1948, established the National Bank of Cuba. This bank was given the exclusive power to issue bank notes guaranteed to the extent of 25% by gold and foreign exchange. Until the bank could arrange to have notes made in its own name, a final order for 1- and 5-peso Silver Certificates was given to the Bureau of Engraving. This order was authorized by Decree No. 716 of February 21, 1949. Later that year, the National Bank of Cuba issued its first notes, series dated 1949. The printer was the American Bank Note Company. For Additional Information Shafer, Neil. Guidebook of Philippine Paper Money. Racine, WI: Whitman Publishing Co. (1964). The Banco Nacional was created in late 1948 and first issued notes series dated 1949, also the last year for the Certificados de Plata. w. 4> 31-ILA", Is: evo, t -4- A 14- E;5i-ikft 4,_d '1'14 Ail:1-k_to 308 September/October 2001 • Whole No. 215 • PAPER MONEY An Early Counterfeiting• •Case In Chtna BY ROBERT MCCABE A proof impression of the earliest known counterfeit Chinese note, printed from the original plate (shown following). Courtesy Ontario Science Centre, Toronto. C OUNTERFEITING IS ALMOST AS OLD AS HUMAN GREED and larceny; therefore, it shouldn't surprise anyone that paper money was counterfeited soon after it came into general use during the Southern Sung Dynasty in China. From the mid-12th century on, various warnings against counterfeiting, including even the death penalty, were printed on Chinese notes, giving indi- rect evidence that counterfeiting was an increasing prob- lem. Until recently, however, very little had been written in English about the subject. It's easy enough for any researcher to find long lists of articles in Chinese and Japanese concerning the early paper money of China, then track down the articles in university libraries and get pho- tocopies. At that point, however, one usually hits a verita- ble brick wall. Getting a reliable translation of such material is a difficult and often expensive project, and even then, one may learn little or nothing about counterfeiting. But sometimes, if you're persistent and patient, you may find that occasional gem that makes the search worthwhile. The earliest record of paper money counterfeiting that I have found is a series of depositions written in 1183 A.D. by a counterfeiter named Chiang Hui. These deposi- tions were part of the collected works of Chu Hsi, who appears to have been an official in the judiciary. Because the six memorials in this work offered inter- esting commentary on the political, social and economic life of China in the 12th century, Dr. Hu Shih brought them to the attention of Professor Lien-Sheng Yang of Harvard University in 1953. Dr. Yang had just published his Money and Credit in China the year before and was a recognized expert in Chinese monetary history. Dr. Yang translated the depositions on counterfeiting and published this material in 1961. 1 translations and additional material about this case provided to in personal correspondence by Professor Tsuen-hsuin Tsien at theme University of Chicago,2 I offer the following account of what may be the oldest documented case of counterfeiting paper money. As necessity is the mother of most inventions, so it was in I 1 th century Based on these Lien-Sheng Yang. "The Form of the Paper Note Hui-Tzu of the Southern Sung Dynasty," Studies in Chinese Institutional History. Cambridge, Massachusetts: Harvard University Press (1961), pp. 216-224. 2 Tsuen-hsuin Tsien, Professor Emeritus, University of Chicago, personal correspon- dence dated September 12, 1996. PAPER MONEY • September/October 2001 • Whole No. 215 309 China. Everyone was having a difficult time with the heavy iron coins used in everyday transactions. This led people to deposit their coins in "proto-banks" and then use the receipts, which were like promissory notes, in making purchas- es. These promissory notes were called chiao-tzu, meaning "exchange medium." During the reign of Chen-tsung (998-1022 A.D.), the government gave 16 merchants a monopoly on the issuance of these notes. Although none of the notes have survived, we know from official records that they were printed from wood blocks on special paper in black, blue and red ink. Usually one note repre- sented one string of coins, and the merchants were allowed to charge a 3 per cent fee for supplying and handling the notes. Some of the merchants became greedy and charged their clients too much for their services, which lead to widespread complaints and a good many legal cases. Finally, in 1023 A.D., the government replaced the private merchants with a "Bureau of exchange medium" in I-Chou, which is the modern city of Ch'eng-tu in Szechwan Province. The Chinese were then experimenting with other forms of paper money in different areas of the country, but the chiao-tzu was the first widely distributed paper currency to reach large scale use. 3 The government issued the notes every other year, starting in 1023, and by the time our counterfeiting story takes place, a lit- tle more than 150 years later, the total circulation was more than 70 million notes. Our counterfeiter was a professional wood-block cutter known as Chiang Hui. In those days, published material was printed from inked wood-blocks on which the characters stood in relief and the surrounding wood had been cut away. As with other trades, young boys were apprenticed to learn the requisite skills before they became professionals, and no doubt Chiang Hui came up the same way. Chiang doesn't tell us why he turned to counterfeiting the first time, but he says it happened in 1177 A.D., when he made 450 sheets of hui-tzu notes. He may have been induced to cut the wood-blocks and print the notes by T'ang Chung-yu, a prefect, or chief administrative officer, who was indicted along with Chiang. Hui-tzu was the name given to the notes that replaced the chiao-tzu, but both notes were circulating at the time. We know from official records that the Government printed bui-tzu from brass plates in a single color and probably overprinted the notes using wood-blocks or dies with other colors for the seals, signatures and denomi- nation. Chiang, however, cut his counterfeit plate in pearwood. The design of the note may have been very elaborate as it took him ten days to complete the work. As soon as Chiang's work was discovered and his identity as the counterfeiter became known to the government, he was arrested and sentenced to be tatooed as a soldier and exiled to a different prefecture. There, he was assigned to serve at the Wine Bureau, but rather than do that demeaning work, he hired a substitute and paid this man with money that he 3 Lien -Sheng Yang. Money and Credit in China, A Short History. Cambridge, Massachusetts: Harvard University Press (1952), pp 52-53. 4 In 1994 this plate was on loan from China to the Ontario Science Center in Toronto, Canada. The plate is part of the permanent collection of the China Science and Technology Museum at 1 Bei San Huan Zhong Zhou Street, Beijing, China. My thanks to Mrs. Nina Li of Miami, Florida, my Chinese translator, for her help with correspondence to the museum in Beijing, and thanks to Ms. Valerie Hatten at the Ontario Science Center for her assistance with the photographs. This copper plate for printing paper money, believed to be the oldest in existence, was used in the city of Hang Zhou around 1005 A.D. (Southern Sung dynasty). This hui-zi ("pocket money") is probably similar to the design of the notes that our counterfeiter made in 1177 A.D. (Photographs by permission of the Ontario Science Center.)4 310 September/October 2001 • Whole No. 215 • PAPER MONEY made legitimately by cutting printing blocks for books. Chiang's next adventure in crime came in 1180 or 1181 A.D. Hearing that he was about to be arrested on suspicion that he had been involved in another counterfeiting case, Chiang sought refuge in a local official's house and was hid- den in a back room. Chiang's grandmother brought him food each day. The official soon asked Chiang to make some counterfeit notes for him, and when Chiang hesitated to comply, the official made it clear that he would have his way or else send Chiang to prison where he might well die. Fearing for his life, Chiang complied. The next day, when his grandmother came with food, Chiang explained his plight to her and asked her to help him get the special paper that would be need- ed. She made the necessary arrangements and even brought him a traced master copy of a hui- tzu note for 770 cash (made by another counterfeiter) and a block of pearwood for making the counterfeit "plate." When Chiang was finished with the block, his grandmother then brought in paper for making 200 sheets of hui- tzu and the red, indigo blue, and brownish- black pigments for ink. Grandma was quite a help, constantly bringing in sup- plies and taking out the finished product. According to his deposition, Chiang made another 150 sheets of hui- tzzt during the last ten day period of the 12th moon (1182 A.D.) Then, during the first six months of 1183 A.D., he printed another 2600-odd sheets. He usually printed 100 to 200 sheets at a time. On the 26th day of the 7th moon, Grandma Chin came rushing in to tell Chiang that he must run away quickly as soldiers were all around looking for him. Chiang put up a ladder, climbed over the back wall and ran to a pavilion behind the house, but there he was caught by soldiers and soon delivered to prison. For the modern student of counterfeiting, there isn't much to this story. The depositions do not mention the technical details of the counterfeiting that we would like to know today. Thus we have no idea how well the counterfeits were made, what impact they had on the local economy, if any, nor even how the notes were detected. And we never learn what happened to Chiang or any of the other characters in this story. Yet, these brief descriptions of Chiang's counterfeiting do provide interesting insights into one of the earliest chapters of the history of paper money in China. Suggested Reading: "Forged Notes of the Tang Dynasty: 'Ta Tang Pao Chao,' by Shibai (Sup Loy) Lu, translated by S.P. Wang, published in Bulletin of the Chinese Banknote Collectors Society, Vol. 3, No. 1 (March, 1984). A scholarly review of the many fake notes alleged to be from the Tang dynasty. Copies available from R. McCabe for an SASE at Toxicology, 5426 N.W. 79th Avenue, Miami, Florida 33166. BUYING SELLING Morris Lawing World Paper Money Stock Certificates and Bonds Member: IBNS • ANA P.O. Box 9494 SPMC • LANSA • APS • NI Charlotte, NC 28299 (704) 366-0846 voice (704) 364-9889 fax http://www.banknoteworld.com/dealerlists/morrislawing.htm PAPER MONEY • September/October 2001 • Whole No. 215 311 Work Done forABNCo - •by James D. Smilhe from 1858-1879 Compiled by Gene Hessler and Mark Tomasko T — HIS LIST COMPRISES ONLY WORK DONE BY JAMES D. SMILLIE FOR ABNCO 1858-1879, much of it for foreign customers, including Canada, Boliva, Mexico, Chile, Peru, Venezuela, Colombia, Costa Rica, Russia, Brazil, Nicaragua, Argentina and Ceylon. His earlier work for Jocelyn, Draper, Welsh & Company; Rawdon, Wright & Hatch; Toppan, Carpenter & Company; his work for NBNCo in this era, and his work after the consolidation of ABNCo is not listed here. In the following list, titles on the num- bered dies from ABNCo engraving records are in italics; descriptive titles are in brackets. In some instances no spe- cific use is mentioned in the records consulted. James D. Smillie is identified as JDS; his father is identified as Smillie. If the records are not clear as to the attribution of the specific Smillie, or other artist or engraver, the assumed initials or names are in parentheses. The diaries and this list confirm that toward the end of his life, J.D. Smillie created security artwork, but did a minimal amount of security engraving. No. Title Artist Engraver(s) 4 Mills JDS JDS Bank note: Canadian Bank of Brantford $4. 29 [View of Westfield; horses and coach] L. Delnoce JDS 58 [Woman milking cow] F.O.C. Darley JDS 95 Rebecca [at the Well]. J.W. Casilear Alfred Jones & JDS Bank notes: Bolivia 50 bol., PS225; Chile 1 peso, PS166; Mexico 50 pesos, PS222; Peru 2 soles, P2; Venezuela 50 bol., PS196 & 40 bol., PS212. Coupon bonds: Armourdale Water Co. 24 Oct. 1883; Wyandotte Water Co. 25 June 1883. U.S. Postal Panel: 20 Aug. 1982. 110 Feeding the Colt H.W. Herrick JDS & D.C. Hay 119 [Fowl by well pump] JDS (J.) Smillie 123 The River Side unknown R. Hinshelwood, finished by JDS Bank note: Chile 500 pesos, PS338. 142 [Cotton] J. Smillie JDS 143 [Wheat Sheaves] J. Smillie JDS Bank note: Chile, unknown denomination. 155 [RWH&E eagle alteration] unknown JDS 156 Drinking at the Brook F.O.C. Darley W. Earle, finished by JDS Bank note: Colombia 10 pesos, PS862. 160 The Well [woman & child] F.W. Edmonds JDS 165 Niagara [Falls] JDS JDS Bank note: Costa Rica 25 pesos, P122. Stock certificate: Rome, Watertown & Ogdensburg Railroad 1883. 171* [Russian statue] unknown JDS & H. Gugler Editor's Note: For excerpts from the Diaries of James D. Smillie relating to his bank note engraving activities, please see Paper Money #213 (May/June 2001) and #214 (July/August 2001) 312 2001 • Whole No. 215 • PAPER MONEYSeptember/October No. Title Artist Engraver(s) 174* [St. Petersburg from water] unknown JDS 175* [The Kremlin] unknown JDS 200 Bull at the Haystack F.O.C. Darley JDS & A. Jones 202 Factory in the Tropics L. Delnoce JDS Bank note: Colombia 1 peso, P74. 209 Marine Figure J.W. Casilear JDS finished by A. Jones Bank note: Colombia 5 pesos, PS867 210 Coffee Tree H.W. Herrick JDS Bank note: Brazil Banco Credit() ; unknown d enomination. 211 Sugar Cane Press H.W. Herrick JDS finished by A. Jones Coupon bond: American Sugar Refining Co. 1891. 214 Indian Camp F.O.C. Darley JDS & Charles Burt (1862) Stock certificates: Deadwood Mining Co., 1879; Deadwood Terra-Mining Co., 1880; and Milwaukee, Lake Shore & Western Railroad Co., 1881. Propeller Loading, #218 218 Propeller Loading JDS JDS Bank notes: Canada, The Exchange Bank of Yarmouth $10, PS1049. Stock certificates: Adirondack Pulp Co. 1882; American Liquid Food Co. 1879; North River Construction Co. 1883; Brazos River Channel & Dock Co. 1889; Brunswick Co. 1890; Brunswick Investment Co. 1890. Coupon bonds: Brooklyn Waterfront Warehouse & Dry Dock Co. 1882; Brazos River Channel & Dock Co. 1889. Draft: City National Bank of Alabama 1880. 221 The Depot unknown (eng. for J.E. Gavit reworked by JDS) Bonds & stock certificates: numerous railroads, including the Wabash, St. Louis & Pacific Railway coupon bond 1881. 230 Sheep JDS JDS Stock certificate: Montgomery Palace Stock Car Co. 1881. Packet in Tow F.W. Edmonds JDS Indian Girls [in cornfield] G.H. Thomas JDS Spring Flowers [mother and children] H.W. Herrick JDS Deer JDS JDS Drafts: Third NB of Cinc nnati Feb. 1880; German Bank of Wisconsin May 1881; Dennison & Brown checks Nov. 1884. 256 The Eagle's Nest H.W. Herrick O.G. Hanks & JDS 264 [Arms of Russia] G.W. Casilear C. Burt & JDS 268 Gun Boats C. Parsons JDS Drafts: Bates Co. NB Nov. 1880; Cordell & Dunnica Missouri April 1879; Mad River NB Ohio March 1883. * An example is included in the presentation book dedicated to Alexander II, Emperor of Russia from ABNCo. also discussed in this issue. This is the only place these engravings have been observed. ** Portrait file number 231 251 -)5? 253 PAPER MONEY • September/October 2001 • Whole 313No. 215 No. Title Artist Eng-raver(s) 270 Coal Breaker (JDS) JDS Coupon bonds: Lehigh Luzerne Coal Co. Feb. 1881; Ohio Central Coal Co. Dec. 1880. Stock certificate: Delaware Lackawanna & Western RR Co. 1880. 273 Catskill Mountain House JDS JDS (JDS adapted this subject from a lithograph by B.G. Stone) Label: Minot, Hooper & Co. Oct. 1879. 277 The First Telegram L. Delnoce JDS Stock certificates: American Cable Co. 1880; Commercial Telegram Co. 1883. Coupon bond: American Cable Co. 1880. Cert. of Indebtedness: -Western Union Telegraph Co. 1881. Western Gun Boats, #282 282 Western Gun Boats JDS JDS Certificate: New Jersey 1866. U.S. Postal Panel: March 1980 287 Monitor Merrimac C. Parsons JDS Certificates: Maine 1879-1884; Connecticut 1868. 291 [Liberty cap on mountain peak] unknown JDS Stamps: Nicaragua [1-cent, 2-cents & 5-cents stamp, Scott Al, 2, & 3]. 293 Agriculture No. 2 C. Schussele JDS (reworked) Bank note: Colombia Banco Popular, unknown denomination. Coupon bonds: Republic Valley RR Co. 1879; Chile Caja de Credito Hipotecario 1894. 297 Quany Train P. Dixon JDS Stock certificate: NY Rutland-Montreal Railway Co. 1883. La Verdulera [Woman in Canoe], C-300 C-300 La Verdulera [Woman in Canoe] JDS (1887) A. Jones Bank notes: Mexico 100 pesos, PS167 & PS471; Paraguay 50 pesos, PS166. 306 Locomotive JDS (from photo) JDS Bank notes: Colombia 50 pesos, PS869; The Minneapolis Bank $5, 1864. Coupon bonds: Cincinnati, Columbus & Hocking Valley Rwy Co. 1881; Louisville & Nashville RR Co. 1880; Topeka, Salina & Western RR Co. 1882. Stock certificates: Columbus, Chicago & Indiana Central Rwy Co. 1882; Topeka, Salina & Western RR Co. 1882; Canadian Pacific Rwy Co. 1882; Central RR Co. of New Jersey 1883. Draft: FNB Maysville, KY 1880. 314 September/October 2001 • Whole No. 215 • PAPER MONEY No. Title Artist Engraver(s) 307 Locomotive JDS JDS Bank note: Canada $20, PS688; Colombia 10 pesos, P143. Coupon bonds: Chicago & Northwestern Rwy Co. 1881; Louisville & Nashville RR Co. 1897. Stock certificates: Cairo & Vincennes RINI , Co. 1880; Chicago, Milwaukee & St. Paul Rwy Co. 1879; Flint & Pere iVlarguette RR Co. 1880; Joliet & Chicago RR Co. 1882; Louisville & Nashville RR Co. 1881; Mobile & Ohio RR Co. 1879; Union Pacific Rwy Co. 1880. 318 U.S. Water Shops, Splfield Mass JDS T. House [building] (1863) 330 Costa Rica 2 reales stamp unknown JDS Stamp: Scott 2, Al. 331 Mowing (two men) G.H. Thomas JDS etched; figures by C. Burt 344 Ducks G.F.C. Smillie JDS Draft: Gennessee Valley NB 1883. 345 Mortar Boats C. Parsons JDS Advertisement: Grant Locomotive Works 1884. 395 Vermont Arms (J.D.) Smillie JDS Bank notes: First Charter NBN. 399 Halifax JDS T. House (1864) Bank note: The Halifax Banking Company PS 1075-1079 . 406' Cholo (male portrait) (from photo) JDS & C. Burt 450 Arms of Michigan JDS T. House (1864) Stock certificate: Milwaukee & Northern Railroad Co., 1881. Coupon bond: Bangor & Aroostock Railroad Co. 1895. 467 Arms of Pennsylvania (JDS) (J. Smillie) Bank note: Republica del Peru, unknown denomination 1880; First Charter NBN. Registered bond: City of Altoona 1886. 468 Arms of Indiana JDS J.S Davis Bank note: Brazil, Banco de Credito Popularde 1891, unknown denomination. Coupon bonds: Cleveland, Columbus, Cincinnati & Indiana Rwy Co. 1883; Indianapolis & St. Louis Rwy Co. 1883. 503 Pit Hole Creek JDS Stock certificates: Buffalo, Pittsburgh & Western RR; American Petroleum Co. 1881. U.S. Postal Panel: Energy Conservation 1974. 533 City of Denver JDS Use of this 4 1/2 x 1 3/4 engraving is uncertain. 557 Science [female figure] JDS C. Schlecht L. Delnoce (1866) J. Bannister 560 South American Ox Train JDS H. Beckwith Bank note: Argentina, Banco de la Prov. Buenos Aires 1882. This probably refers to Argentina 10 pesos, PS359. 585 Albany [view of city] JDS H. Beckwith Stock certificate: Boston & Albany RR Co. Albany, #585 ' ICX 11131MIL PAPER MONEY • September/October 2001 • Whole No. 215 315 No. Title Artist Engraver(s) 590 Boston JDS L. Delnoce Stock certificates: Boston Marine Insurance Co. 1881; Boston Belting Co. 1893; Boston & Albany RR Co. Draft: Shaw-mut NB 1880. Diploma: City of Boston 1894. U.S. Postal Panel: 1973. 602 Imperio do Brasil [arms] JDS unknown Bank note: Brazil 10 mil reis, PA252 and other denominations. Stock certificate: Ceylon Planters Tea Co. 1890. 608 Lassoing Cattle JDS JDS & C. Burt Bank note: Argentina 10 pesos, PSI596; Venezuela 20 bolivares, PS242. 609 S.A. Transportation JDS C. Burt To be continued There Can Be Beauty By Nelson Page Aspen OST WILL AGREE THAT UNIFORMITY OF U.S. CURRENCY is far from beautiful art work. This is certainly not true of many of the notes of foreign countries. The print shops of the world have great talent, especially the vignettes of the American Bank Note Co., De La Rue and the former Bradbury, Wilkinson and Waterlow companies. Why has not the BEP improved the artistry, if not color? Some say the U.S. government fears that the familiarity with out notes would be lost and counterfeiting made easier. Perhaps this is true in part, however, I think the citizenry is smart enough to adjust. I have often wondered why we could not have different size notes. . .With the increased longevity of our senior citizens, at least failing eyesight would be helped. The larger the denomination, the larger the note. This has worked in other countries with success and would certainly help the wallet industry as it did when we went to the small size note of 1928. In 2003 our recently redesigned notes (I hate the $20) are to be again redesigned (thank goodness) and the $1 note possibly eliminated. This would be a good time for the Treasury and BEP to try for beauty and color, rather than uniformity. Remember when Silver Certificates, like the One Papa note.. . Dream on.. . 316 September/October 2001 • Whole No. 215 • PAPER MONEY Death Claims Stephen R. Taylor, Longtime SPMC Governor 1926-2001 Stephen R. Taylor, a 30-year mem- ber and longtime SPMC Governor, died Sunday, July 1, 2001, in his hometown of Dover, DE. Taylor was 74. A lifelong resident of Delaware, Taylor was a noted paper money collec- tor, who delighted in displaying his col- lection and speaking about his hobby at conventions and shows across the country. Taylor served as SPMC Governor for 19 years (1979-1983, and 1985-2000). In addition, he was Publications Chairman and Regional Coordinator. At its recent June Memphis Board Meeting, the Society voted Taylor its coveted SPMC Award of Merit. SPMC President Frank Clark expressed sympathy to Taylor's family. "We will all miss Steve, and our condo- lences go out to his family and loved ones," Clark said after being informed of Taylor's death. "I only saw Steve at Memphis each year, but I quickly learned that he was a collector's collector, and that paper money was his favorite corner of numismatics. He was always there to help a budding numismatist or a young numismatist," Clark noted. Taylor was born Sept. 29, 1926. Following service in the U.S. Navy, he forged a career in banking, retiring in 1983 as a branch administration director and vice president. During his 36-year banking career, he also was appointed to the state's Council on Banking. Steve entered numismatics when he tried to interest his son, Stephen Jr. in coin collecting. The elder Taylor soon after took up paper money, which became his passion, and joined SPMC in 1971. For the past three decades, he hap- pily shared his knowledge in this field influencing many and making friends across the country. A special interest of Steve's was developing the collect- ing bug in young people, and his "Fun of Exhibiting" pre- sentation was geared toward beginning collectors. Steve's hiatus in his service to SPMC was occasioned by his selection to the American Numismatic Association Board of Governors in 1981. During his eight-year term on the ANA board, he served as chairman of the club and dis- trict representative program, as well as several other com- mittees. He became that organization's Vice President in 1985, and rose to the position of ANA President for a two- year term in 1987. A prolific exhibitor, Taylor set up displays in more than 30 states and across Canada, and captured awards up to and including ANA's Howland Wood Memorial Best of Show honors at the 1978 ANA convention in Houston. Taylor also was accorded ANA's Glenn Smedley Memorial Award in 1991, and its Medal of Merit in 1997. Taylor received a host of other numismatic laurels. He was selected Middle Atlantic Numismatic Association's "Person of the Year" in 1986, Pennsylvania's "Outstanding Numismatist" in 1982, the "Numismatist of the Year" of both Kent Coin Club and MANA, the first recipient of the Pennsylvania Numismatic Association's Frank Gasparro Award, and was also named a "Numismatic Ambassador" by Krause Publications in 1979. Taylor was a founder and past presi- dent of the Kent Coin Club of Dover. He also served as past president of the Milford Stamp & Coin Club in Delaware. In addition to SPMC and ANA, Taylor was also active in the Currency Club of Chester County, the Maryland State Numismatic Association, the Middle Atlantic Numismatic Association, the Garden State Numismatic Association, the Virginia Numismatic Association, the Empire State Numismatic Association, the Canadian Numismatic Association, and the Great Eastern Numismatic Association. In many of these groups he also held offices. Taylor was also active in local civic affairs, including service on the boards of the YMCA, Rotary Club, Chamber of Commerce, American Cancer Society, Small Business Administration, his local church and as campaign chairman of the United Way of Delaware. Steve is survived by his wife, Beulah, a son and a daughter. He was buried July 6 at Odd Fellows Cemetery, Camden. Steve Taylor Just Went Home Steve Taylor was a dear friend. We traveled together to conventions for nearly a quarter of a century and corre- sponded regularly. Steve was solicitous of the needs of oth- ers in many ways. Steve always packed the coffee pot (before hotels saw the light and provided their own in-room coffee makers), crackers, snacks, card games, and chess set for our hobby trips. But Steve's concern for others ran deeper than that. Our traditional Sunday morning chats, for example, usually centered on how things were going in our lives outside the hobby. Steve was always interested in helping young people find their way, not only through the hobby but also through life, and he spent a lot of time cultivating this pursuit. Steve was always proud of "his kids," both natural and "adopted." Their pictures lined his den walls. I was honored to be called "friend" by Steve Taylor, and I will miss him very much. I derive considerable com- fort from knowing that Steve didn't die; he just went home. -- Wendell Wolka PAPER MONEY • September/October 2001 • Whole No. 215 317 Stephen Taylor Left Footprints on Our Hearts We were extremely saddened to learn of the passing of Stephen R. Taylor. Steve was so well loved in the numis- matic community, and it seems hard to believe he is no longer with us. He was a very good friend, and it was an honor to serve on numismatic boards with him. He would volunteer for any job that needed to be done. We will always remember his pleasant ways and how he made us feel so much at home when we were around him. He was soft spoken, friendly and very knowledgeable in the numismatic hobby. He was a very gentle man and never had a bad word for anyone. Some numismatists come into our lives and quickly go. Some numismatists move our hearts and souls to dance and inspire us. They awaken us to new understanding and learning, with the passing whisper of their knowledge and wisdom. Some numismatists make the sky more beautiful to gaze upon because of the kind and gentle words they always left with us during conversations. Stephen Taylor stayed in our lives for a while and left footprints on our hearts, and we are never, ever the same. Rest in Peace Steve, you will live with us forever. -- John and Nancy Wilson Steve Helped Make the Hobby Fun I remember Steve as always willing to share what he knew and our friendship goes back 20 years at least, though Claud knew him longer. His programs were informative and well done, yet the "newbie" collector, as I was then, could come away feeling as though she had learned a good bit. He helped make the hobby fun; does anyone else remember his chocolate gold coin exhibit that went everywhere? We all used to save them for him in hopes of finding a "variety" he didn't have. -- Judith Murphy Steve's Philosophy Was to be Committed Steve Taylor, a long time advocate of numismatics, syngraphics and involvement to the fullest, died after a brief and valiant bout with cancer. Steve's philosophy was to be committed, not just involved with each community or numismatic organization to which he was a member. An impossible task, accomplished by few. The hobby is better for his participation and will miss his presence, especially syngraphists and YNs, and his benediction at most every meeting. Our sympathies go out to his wife Beulah and his family with the assurance that he has founded another orga- nization in his "Better World." -- Currency Club of Chester County Stephen Taylor Was a Role Model, Friend I knew Steve for approximately 25 years. I will always remember him as someone who took substantial time with young, aspiring hobbyists like me to get to know them col- lectively and individually. Other than my father, he is prob- ably the person who had the most profound influence on me as a YN. However, his lessons encompassed much more than numismatics. I am convinced that he believed that one can- not be a good numismatist without being a good human being. He constantly encouraged me to spend more time getting to know and care about people, not merely the bank notes. Steve, wherever you are, thank you for being a role model, mentor, and great friend. I am only sorry that you never met my family about whom you always asked. You will not be forgotten. -- Joel Shafer Steve Was a Fixture at Nearly Every Show I did not know Steve well as a collector, but much bet- ter as the very friendly guy he was. He became a good friend of my father (Burnett Anderson) in the early '80s, when my dad was covering the east coast and large national coin shows for Krause. Steve was fully capable of holding forth on any topic whatsoever, but he was a great fan of chess, and he and my father used to play from time to time at shows where the two of them might get a break. So, as I ran into him at shows, whether my dad was attending or not, there was always a cheery word about my dad, or the status of the chess matches, etc. This continued after my dad died, and while Steve and I probably never had any in depth conversations about our paper habits, he was a dedicated, active and committed fixture at seemingly every show I ever went to. I will miss him, and the hobby will miss him. -- Mark Anderson He Was Just Another Ragpicker Enjoying Himself Steve Taylor was one of the most soft-spoken people I've ever spent time with. But the level of his voice matched his style -- low key. He was a member of the SPMC Board of Governors pretty much the entire time I served, so we often talked about the Society and how we could improve the organization and better serve the members. I remember when we had to implement some budget-cut- ting measures in the late 1980s; Steve quietly reminded us that the Board members had to be firm but decisive when we voted on a significant dues increase. After the meeting, Steve said to me, "You're the salesman, I'm a banker -- let's see who does a better job selling the new dues to the mem- bership!" I reminded him, "Yeah, but I'm the Secretary -- the 'nastygrams' will come to me, not YOU!" He laughed out loud! We relived that moment many times over the ensuing years. Steve was fascinated with the small-size U.S. currency. He must have exhibited his notes hundreds and hundreds of times. Many people will no doubt remember him as President of the ANA, and rightfully so. But Steve wasn't the "ANA President" when he came to Memphis. He was simply another "ragpicker," just like the rest of us -- having a good time and enjoying himself. -- Bob Cochran Steve's Was the Best Kind of Volunteerism When I was President of the Atlanta Coin Club I invited Steve to our annual banquet, and asked him to present a program. Steve came to Atlanta from Delaware and swore in the new board, presented the program, and refused any type of honorarium. He simply said how pleased he was to have been invited -- the best kind of volunteerism there is -- a good guy. -- Claud Murphy •:• Robert Johnson 318 September/October 2001 • Whole No. 215 • PAPER MONEY Now Available Official SPMC Membership Badges These are official SPMC membership badges and are approved by the Board of Governors. The badges are of extremely high quality, and have a clip instead of a pin to attach to your shirt or blouse. While your dues cover many items within SPMC, badges are not one of them. So the the Board has decided to make this an optional program for members who would like a badge to purchase one. This is not a money-making effort for the Society; we are just trying to cover our costs. Please use the order form below (or a photocopy) when ordering your badge. All orders must be received by the chairman of the badge committee no later than October 1, 2001. Price is $7.00 per badge ordered postpaid. Depending on the number of badges ordered, delivery may take from four to six weeks until you receive yours. Only the SPMC logo and your name will appear on the badge. No membership numbers will be on the badge. Abbreviations and nicknames are OK. Actual badges are one inch by three inch of green plastic. r SPMC Membership Badge Order Form -- Deadline 10/1/01 Name: Address: City: State: Zip: Country: Phone Number: ( ) How you would like to have your name appear on the badge: Badges are $7.00 each postpaid. Make payment payable to SPMC. Photocopies of this order form are allowed. Arri "AJ" Jacob, SPMC Badge Committee, PO Box 1649, Minden NV 89423 PAPER MONEY • September/October 2001 • Whole No. 215 319 A Gift Fit for a Czar An ABNCo Presentation Book By WILLIAM LS. BARRETT & GENE HESSLER Introduction by William L.S. Barrett URING THE EARLY 1990S, I (WB) WAS FORTUNATE TO make a number of visits to the State Hermitage Museum in St. Petersberg, Russia. This museum contains truly spectacular col- lections, not to mention the glorious former palace buildings in which it is situated. The Numismatic Department houses a massive collection of Russian coins, as well as coins of Russia's neighbors. My wife Katherina and I were privileged on several occasions to view some of the numismatic treasures, the vast majority of which are not on display, and to be allowed into the Treasure Room itself. The cabinets were unsealed so that we could handle some of the massive gold medals and other pieces on display within. During one visit, department head Dr. Vsevolod Mikhailovich Potin invited us to view something special in the Library. It turned out to be a won- derful album which follows, a presentation album from American Bank Note Company to the Czar, prepared undoubtedly in hope of obtaining a contract. While this contract did not materialize until just before the Russian Revolution of 1917, this beautiful album remains as a testament to the newly founded company's skills. The album itself is beautifully preserved, having sur- vived revolution, one thousand days of Nazi bombardment, and the depression- era sell-off of Hermitage treasures for hard cash ordered by Stalin. It is a pity that not all the notes can be illustrated, but Gene Hessler has provided a fine description of the items contained therein, and a complete set of the photographs is in his hands. A Gift Fit for a Czar by Gene Hessler In 1861 when this book was presented to Alexander II by American Bank Note Company (ABNCo), this company was the primacy provider of federal security instruments for the United States. One year later Spencer Morton Clark formulated the concept of a Bureau of Engraving and Printing (BEP). ABNCo realized their services for the federal government would decline and ultimately be discontinued. Consequently, ABNCo wanted to increase its bank note business for other countries. At its zenith, ABNCo would "paper the world" by producing paper money for 155 countries. One method of procuring contracts was to present heads of state and central banks with elaborate presentation books which included the best examples of their work. The BEP also prepared presentation books. These books went to congressmen, treasury officials and a few select indi- viduals. The late Raphael Ellenbogen compiled a list of BEP presentation books known to him numbering 47 specimens. We can assume there are at least another 10-15 that were not recorded. Periodically BEP presentation books come into the collector market- place. However, few of the presentation books that emanated from ABNCo have left their intended destinations. Consequently, to be able to see the con- tents of the book in the Hermitage is a privilege. Alexander 11 by ABNCo 411_1Vir - N E wyo 320 September/October 2001 • Whole No. 215 • PAPER MONEY Presentation page of the presentation book in the Hermitage. ----;%—r004*144T8 fruntiltr> ) 1860 The book is bound in blue leather with a silk lining. Following the engraved presentation page (above), there is a portrait of his Imperial Majesty Alexander II, Emperor of Russia (page previous); James Bannister engraved it. This engraver was born in England in 1821 and came to the U.S. sometime prior to 1846. Two pages are devoted to Russian vignettes and portraits (opposite). There is no record of use for these at ABNCo, and it is generally believed these dies were sent to Russia. These pages are followed by 12 pages with 23 miscel- laneous portraits, 35 vignettes and nine state seals. These were used on U.S. federal, obsolete and Canadian notes. One of these pages includes the Declaration of Independence engraved in micro letters. Another page includes the Lord's Prayer and the Ten Commandments engraved by C. Toppan. A proof of an advertising note heralds the use of the patented anti-photo- graphic green ink by ABNCo. This green ink was the creation of Dr. Thomas Sterry Hunt. Tracy Edson for ABNCo ultimately purchased the patent. A second, much larger advertising note is one of two or three observed. Two lovely stock certificates demonstrate another type of security print- ing by ABNCo. The United States Guano Company stock certificate is print- ed in a pale blue with portraits of Messrs. Baker (L), engraved by William Edgar Marshall and Benson (R), engraved by Charles Burt. Only a few exam- ples of this rare certificate are known in the hands of collectors. PAPER MONEY • September/October 2001 • Whole No. 215 321 A variety of Russian scene vignettes are known only from the the Czar's presentation book. Top panel clockwise from top center: Girl, Alfred Sealey; Man with Balalaika, Charles Burt; Man with Pole, James Bannister; Man with Cap, J.I. Pease; Woman, Charles Burt; Girl, Alfred Jones; Russian Arms, Luigi Delnoce. Bottom panel clock- wise from top center: Kremlin, James D. Smillie; Man, James Bannister; Girl, Charles Burt; St. Petersburg, James D. Smillie; Man with Shovel, Alfred Jones; Bride, J.I. Pease; Russian Arms, Luigi Delnoce; Statue, art by Henry Gugler, eng. by J.D. Smillie. The other certificate is for the American Steam Plow Manufacturing Company, Lancaster County, Pennsylvania. The image of Agriculture was drawn and engraved by Alfred Jones. Unobserved elsewhere, this example could be unique. With the exception of three rare U.S. Interest-Bearing Notes and two 322 September/October 2001 • Whole No. 215 • PAPER MONEY l'ATI:711T GREEN TINT& BLACK CAPRON INK American Bank Note Co. touted its patented "anti-photographic" green printing ink. bonds, nine Canadian notes, three notes for the Danish West Indies, six for Ecuador, and three for Greece, the remaining examples that demonstrate the security-printing capabilities of ABNCo are U.S. obsolete proofs for 18 states and the District of Columbia. Some of these notes are not listed (NL) in Haxby or Pick; some notes are listed in Haxby as a surviving example not confirmed (SENC). Remaining notes are identified by the appropriate number assigned by Haxby. ABNCo also produced postage stamps, and there are five sheets included in this book: three for New Brunswick and two for Nova Scotia. When William L.S. Barrett was in Russia in the early 1990s, he had the good fortune to see and receive permission to photograph each page of this presentation book. As many of those illustrations as possible will be included with the descriptions follow. List of Contents by Country Canada Bank of Montreal backs (1859). PS841a. $1. La Banque Nationale. PS842a. $2. La Banque Nationale. The Reapers, on the left by Simon Julien (1735-1800), was engraved by James Smillie. Alfred Jones retouched the profile of Jacques Cartier PS974. $2. The Commercial Bank of Canada, Kingston. PS975. $5. The Commercial Bank of Canada, Kingston. The Surveyor is the work of artist F.O.C. Darley. PAPER MONEY ® September/October 2001 ® Whole No. 215 323 PS995. $100. The Commercial Bank of Canada, Kingston. A portrait of Princess Eugenie, wife of Napoleon III, is seen at the right. PS996. $1000. The Commercial Bank of Canada, Montreal. A portrait of Princess Eugenie, the wife of Napoleon III, occupies the center. PS 1272. $20. The Ontario Bank. PS 1273. $50. The Ontario Bank, Montreal. The portrait of the Prince of Wales was engraved by James Bannister and retouched by Alfred Jones. The image of Plenty on the left was drawn and engraved by DeWitt Clinton Hay. PS 1274. $100. The Ontario Bank. Danish West Indies Luigi Delnoce engraved the Bank of St. Thomas Arms. Each of the fol- lowing notes is dated 1860. P13. $5 P14A. $10. P14B. $100. Ecuador PS113. 4 pesos. The Eagle was engraved by J. F.E. Prud'homme who was born in St. Thomas on 4 October 1800. Prud'homme engraved indepen- dently in the U.S. before joining the U.S. BEP in 1869. 11 44,44. .""AINANNANNOVVV~ANYW,Arte" I (**,AAN'AriAt, *el ........_ ancixif,tx" ,,,,, .///9....-/,./f, i /1`1'' i el /,'; ' /*/ ,, t,, , t(e. ‘,/ /f ,'/ ‹,.? ,V,:i $4/ / ,t f// "/(/ / 'r .//s'?/..////,,/ e i; P../ ////////7/1/ / / 16 • • V s• • • 324 September/October 2001 • Whole No. 215 • PAPER MONEY PSNL. 4 pesos, 186-. Bald Eagle is the work of artist William Croome; Alfred Jones engraved it. PS 113A. 5 pesos. PS 114. 5 pesos. James Bannister engraved the Boy with Birds, and the female image of Hist:my was drawn and engraved by Charles Burt. PS115. 10 pesos. Thomas Crawford's Freedom, originally called Armed Liberty, was engraved by Owen G. Hanks. Collectors recognize this image since it was used a few years earlier on U.S. $5 Demand Notes and U.S. Legal Tender Notes. The central figure of Science was drawn by FAV. Edmonds and engraved by 0. G. Hanks. PS116. 20 pesos. Bank representatives selected the image on the left with or without the knowledge that it was the Arms of South Carolina. The artwork for the arms is by James McDonough; it was partially engraved by J.D. Smillie. Kit TPAR-MIA1 4 2 4 4 EON! • 7-7 4 f .. 7 • ((t.S.% T €44/00 01". PAPER MONEY • September/October 2001 • Whole No. 215 325 Germany An advertising note for the security firm of Giesecke & Deverient (G&D) in Leipzig. The format, including one of the same engraved ABNCo subjects, is similar to The Commonwealth Bank in Philadelphia, PA $10, PA-415, GlOa. This piece suggests that ABNCo and G&D were considering some type of cooperative venture. Greece James Smillie engraved the Arms of King Othon, which appear on each of the following essais. Each denomination differs from the catalog numbers (P23, 24 & 25) in that the amount is placed at the lower center; issued notes have the denomination in the center. Each denomination has plate letter "A," however the letter style on the 100 drachmae is different from the other denominations. PNL. 10 drachmae essai, similar to P23. PNL. 25 drachmae. PNL. 100 drachmae. United States The three one-year Interest-Bearing Notes contained in the presentation book were authorized by the Act of December 23, 1857. All are rare with few recorded in private collections. HX121A, $100. Union (L) and the Prince of Wales (R) were both engraved by Alfred Jones. F. Winterhalter is the artist who created the image of the lit- tle prince. Luigi Delnoce engraved the Apotheosis of Washington. E Pluribus Unum, the eagle at the upper center, was also used on the first U.S. Demand Notes in 1861. HX121B, $500. This is one of three known examples of this rarity. One piece, with numerous cancellation holes, is sequestered at the Bureau of the Public Debt, and examples have been observed at the BEP. The por- trait on the right is that of Secretary of the Treasury Howell Cobb. HX121C, $1000. Only a few of these notes are known, including this exam- ple. Charles Burt is believed to have engraved justice, E Pluribus Unum and the portrait of President James Buchanan. HX123A, $1000. Authorized by the Act of June 22, 1860, this and the $5000 bond denomination, HX123B have W. Croome's Great Eagle engraved by Alfred Jones. 111_111:1142111: ..44111.11,510,1711114)■1) ligalawrxtrambiawnrcrrsnair:.. rt ,r I It■1.,4111PIJAPVIJ Att~s9 All* !WOO _a jy• /o' 1 DO ArramainepurvuinomnovizsconourN imacCil art • /.///////3.4:, 1-1 ,1J #1 , 1 lef,X7g 16C111,111(14V1. 11.4111 10111TINIZIllastil3litiCiMi V 326 September/October 2001 • Whole No. 215 • PAPER MONEY Connecticut CT- 190, G12 $50 (SENC). The Merchants Manufacturers Bank, Hartford. Charles Burt engraved the portrait of George Beach. There is an ABNCo credit not NBNCo as stated in Haxby. Delaware DE-25, G4. $2. The Citizens Bank, Middletown. The daguerreotype of the little girl was engraved by James Bannister. The image of Florence Nightingale was engraved by James Bannister. The angelic image on the left was engraved by James Smillie. DE -25, G6. $3. The Citizens Bank, Middletown. The Piper was engraved by Charles Burt. DE-25, G8. $5. The Citizens Bank, Middletown. District of Columbia DC -365, G2a. $5. The Union Bank of Columbia, Washington. Georgia GA-290, G2a. $1. The Farmers & Mechanics Bank, Savannah. GA-290, G6a. $5. The Farmers & Mechanics Bank, Savannah. GA-290, GlOa. $20. The Farmers & Mechanics Bank, Savannah. GA-290, G12a. $50. The Farmers & Mechanics Bank, Savannah. GA-290, G14a. $100. The Farmers & Mechanics Bank, Savannah. PAPER MONEY • September/October 2001 • Whole No. 215 Harlan J. Berk, Ltd "The Art & Science of Numismatics" Special for readers of Paper Money Philippines -- 20 different World War II Guerrilla currency VG-XF only $20 Germany -- Notgeld, colorful notes from 1920s UNC 50 different $25 100 different only $49 All plus $3 postage and insurance / mention this ad 31 N. Clark Street Chicago, II.. 60602 312/609-0016 • Fax: 312/609-1305 www.harlanjberk.com e-mail: info@harlanjberk.com Dennis Forgue, Store Manager SPMC #1096 A Full-Service Numismatic Firm Your Headquarters for all Your Collecting Needs PNG IAPN ANA ANS NLG PCDA SPMC September/October 2001 • Whole No. 215 • PAPER MONEY Illinois IL -NL. $1. The Mercantile Bank, Waterloo. The portrait of Florence Nightingale on the right was engraved by James Bannister. IL-55, G2a. $1 (SENC). The Union Bank, Benton. The figure of Agriculture on the left was drawn and engraved by Alfred Jones. IL-55, G4a. $2. The Union Bank, Benton. IL-480, G2a. $1. The Corn Planters Bank, Marshall. IL-480, G6a. $3. The Corn Planters Bank, Marshall. IL-560, G2a. $1. The I-Iumboldt Bank, Naperville. Kentucky KY-100, Des. 1Ba. $1. The Farmers Bank of Kentucky, Frankfort. Mr. and Mrs. John J. Crittenden. The latter served as Governor of Kentucky and as U.S. Attorney General. Louisiana LA- 15, G14a. $5. The Citizens Bank of Louisiana, New Orleans. LA- 15, G16a? $5 (back) LA- 15, G60a. $5. The Citizens Bank of Louisiana, Shreveport. LA-15, G60a. $5 (back). The following four notes are also payable at Shreveport. LA-15, G64a. $10. LA-15, G64a. (back). LA-15, G68a. $20. LA-15, G68a. (back). LA-15, G72a. $50 (back). Maryland MD -25, G32a. $20. The Citizens Bank, Baltimore. MD -45, G48a. $10. The Commercial & Farmers Bank, Baltimore. Massachusetts MA-90, G22a. $20. The Worcester County Bank, Blackstone. MA-90, G36 $100 (SENC). The Worcester County Bank, Blackstone. The figure of Benjamin Franklin was engraved by (Thomas) Phillabrowne. The Watch Dog by Hancock was engraved by Henry Beckwith. MA- 160, G2a. $1. The Continental Bank, Boston. MA- 160, G4a. $2. The Continental Bank, Boston. MA-565, G84a. $50. The Fairhaven Bank. Michigan MI-230, NL. $3. The Bank of the Capitol, Lansing. Michigan's limestone deposits are acknowledged as the four cherubs sculpt a Corinthian column. MI-435, G30a. $5. The Bank of Tecumseh. Missouri MO -70M NL. The Western Bank of Missouri, Fulton Branch payment order. The figure of a Pioneer Drinking was originally engraved for Bald, Cousland & Co. MO -70M NL. The Western Bank of Missouri, Fulton Branch certificate of indebtedness. New Jersey NJ -345, G26a. $3. The Bank of New Jersey, New Brunswick. NJ -375, G14a. $1. The Newark Banking Company. Charles Burt engraved the portrait of John Condit (1755-1834), who served in the U.S. House and Congress. NJ -375, G14a. $5 (SENC). The Newark Banking Company. Charles Burt engraved the portrait of John Condit. Owen G. Hanks engraved The Spinner Wheel, by Christian Schussele. 328 Collectibles INSURANCE For The PaperMoney Collector - • / n tir012Y.Iii;TATEMAtt:- ,- , • ■ Your homeowners insurance is rarely enough to cover your collectibles. We've provided economical, dependable collectibles insurance since 1966. • Sample collector rates: $3,000 for $12, $10,000 for $32, $25,000 for $82, S40,000 for $132, $60,000 for $198, I per $1,000 above $60,000. • Our insurance carrier is AM Best's rated A+ (Superior). •We insure Paper Money, Stock Cer- tificates and scores of other collectibles in numerous categories. "One-stop" ser- vice for practically everything you collect. MEM VISA' t • Replacement value. We use expert/ professional help valuing collectible losses. Consumer friendly service: Our office handles your loss—you won't deal with a big insurer who doesn't know col- lectibles. •Detailed inventory and/or professional appraisal not required. Collectors list items over S5,000, dealers no listing required. our website! Collectibles Insurance Agency P.O. Box 1200-PMC • Westminster MD 21158 E-Mail: info©insurecollectibles.com See our online application and rate quote forms on More Info? Need A Rate Quote? Visit: www.collectinsure.com Or Call Toll Free:1-888-837-9537 • Fax: (410) 876-9233 I specialize in World Notes, I Send me $20 & I Military Notes, I•10- will send you six & Related Areas or so Crisp Unc world notes with Want Lists Welcomed a Pick cat. value wiOf- of over $60 Leo May Enterprises, Inc. Box 8711 Coral Gables, FL 33124 E-mail: leomayent@aol.com Web Page: LeosWideWorldofNotes@aol.com Phone (305) 271-8391 NO JUNK & you must be satisfied or your money & postage will be returned PAPER MONEY • September/October 2001 • Whole No. 215 329 330 September/October 2001 • Whole No. 215 • PAPER MONEY New York NY-680, G12b. $20. The Bank of Commerce, Cohoes. The following four notes bear an ABNCo credit, not NBNCo, as printed in Haxby. Without confirmation we can assume the portrait on the $1 and $2 notes represents H.J. Messenger. NY- 1325, G20. $1. H.J. Messengers Bank, Marathon. NY-1325, G22. $2. H.J. Messengers Bank, Marathon. NY- 1325, G24. $5. EU Messengers Bank, Marathon. NY- 1325, G28. $10. I.J. Messengers Bank, Marathon. NY- 1355, G8a. $2 (SENC). The Middletown Bank. Milking Cows is the work of F.O.C. Darley; Charles Burt and Henry Beckwith engraved it. NY- 1355, G12a. $5 (SENC). The Middletown Bank. NY- 1620, G44a. $3 (SENC). The Fulton Bank, New York. NY- 1700, G10. $50 (SENC). The Manufacturers and Merchants Bank, New York. NY- 1700, G12. $100 (SENC). The Manufacturers and Merchants Bank, New York. The female portrait is entitled The Bride; Alfred Sealey engraved it. The Spinner Wheel is the work Christian Schussele; Owen G. Hanks engraved it. NY- 1790, G244a. $1. The Bank of New York, New York. NY-1790, G250a. $2. The Bank of New York, New York. NY-2260, G4a. $2. The City Bank, Poughkeepsie. NY-2260, G8a. $5. The City Bank, Poughkeepsie. NY-2730, NL. $10. The Bank of Troy. The artwork for Liberty and Justice is by Francis W. Edmonds; Charles Burt engraved the figure. The Mechanic Oiling The Governor is by artist Henry W. Herrick; it was engraved by W.W. Rice. North Carolina NC -5, G20. $50. The Bank of Charlotte. NC -54, G4. $10 (SENC). The Bank of North Carolina, Raleigh. The por- trait resembles jurist William Gaston (1778-1844). NC-80, G4a. $3. The Bank of Wadesborough. NC -80, G8a. $4. The Bank of Wadesborough. Pennsylvania PA- 170, G40a. $5. The Harrisburg Bank. PA-400, G12a. $50. The City Bank, Philadelphia. PA-405, G4a. $5. The Bank of Commerce, Philadelphia. PA-405, G8a. $10. The Bank of Commerce, Philadelphia. The scene of The Example and The Hail were both engraved by Alfred Jones, the latter with the assistance of James Smillie. Both images are by artist Francis W. Edmonds. PA-415, G8a. $5. The Commonwealth Bank, Philadelphia. PA-430, NL. $1000. The Farmers & Mechanics Bank, Philadelphia. PA-465, G280a. $1000. The Bank of North America, Philadelphia. PA-480, G184 type, $20. NL. The Bank of Pennsylvania, Philadelphia. PA-485, G188. $20. The Philadelphia Bank. James Bannister engraved the portrait of Joshua Longsteth. PA -485, G208. $50. (SENC). The Philadelphia Bank. Alfred Sealey engraved the portrait of lawyer Horace Binney. T. Phillabrowne engraved the Franklin portrait. PA-505, G6a. $5. The Union Bank, Philadelphia. PA-700, G36c. $5. The Bank of Chester County, West Chester $5. Africa Port India For Sale - 60% of Pick Catalog Send for Free List Egypt, Ethiopia, Gambia, Kenya, Nigeria, Sierra Leone, Sudan, Turkey, Uganda, Zaire and much more Mike Jowett MJOWETT@aol.com 48 Dickinson Rd. Basking Ridge, NJ 07920 SPMC 10019 PAPER MONEY • September/October 2001 • Whole No. 215 331 Columbia Notes Specializing in the paper money of Asia and Latin America since 1991. Varieties listed by date and signature. For a free price list visit: www.columbia -notes.com or write to: PO Box 2359, Point Roberts, WA 98281 e-mail: ronrichardson@columbia-notes.com IBNS #4563 LANSA #721 J&F Rubenstein Buying and Selling the Finest U.S Currency Uncut Sheets Nationals - Large and Small Type Notes Fancy Serial Numbers Error Notes Auction Representation Consignments Accepted Actively Buying Collections Want Lists Serviced See us at all the major shows Members PCDA, FUN, ANA, ANS P.O. Box 960386 Miami, FL 33296-0386 Telephone: (305) 388-7187 Fax: (305) 383-8422 E-mail: Miagold@aol.com 332 September/October 2001 • Whole No. 215 • PAPER MONEY PA. American Steam Plow Manufacturing Company, Lancaster County shares certificate. The image of Agriculture was drawn and engraved by Alfred Jones. Rhode Island RI -395, G18a. $3. The Traders Bank, Providence $3. South Carolina SC-10, G4b. $5. The Bank of Charleston. SC - 10, $500. NL. The Bank of Charleston $500. The portraits of engineer, inventor and financier E.A. Stevens (1795-1868) and Connor were engraved by James Bannister. SC -10, G16b. $10. The Bank of Charleston. SC -40, G50a. $5. The Bank of the State of South Carolina, Charleston. SC -80, G6a. $5. The Bank of Georgetown. SC -85, G4a. $5. The Bank of Hamburg. SC -90, G8a. $50. The Bank of Newberry. SC -90, G10a. $100. The Bank of Newberry. Tennessee TN-95, G14b. $20. Commercial Bank of Tennessee, Memphis. TN- 195, Des. 500Aa. $500. Bank of Tennessee, Nashville. TN- 195, Des. 500Aa? (back). Bank of Tennessee, Nashville. TN- 195, Des. 1000Aa. $1000. Bank of Tennessee, Nashville. TN-195, Des. 1000Aa? (back). Bank of Tennessee, Nashville. TN-210, Design 5A. $5. The Union Bank of Tennessee, Nashville. Virginia VA- 191, G8a. $25. The Bank of Richmond. VA- 191, GlOa. $50. The Bank of Richmond. VA- 191, G12a. $100. The Bank of Richmond. VA- 195, G2a. $5. The Traders Bank, Richmond. VA- 195, G4a. $10. The Traders Bank, Richmond. VA- 195, G8a. $50. The Traders Bank, Richmond. New Brunswick Postage Stamps Scott A5. 54. Alfred Sealey engraved the young Queen Victoria portrait. Scott A6. 104. The same portrait as preceding appears on this denomination. Scott A8. 174. The portrait of Edward VII, the Prince of Wales, was engraved by Alfred Sealey. Nova Scotia Postage Stamps Scott A3. 14. James Bannister engraved the profile of Queen Victoria. Scott A6. 1224. The crowned head of Queen Victoria was engraved by Charles Burt and retouched by John Francis Eugene Prud'homme. SOURCES Ellenbogen, R. "United States Treasury Specimen Books," The Asylum, Numismatic Bibliomania Society, Vol. XVI, No. 1 (1998), p. 12. Haxby, J. Standard Catalog of United States Obsolete Bank Notes 1782-1866, Vols. 1-4. Iola, WI: Krause Publications (1988). Hessler, G. An illustrated History of U.S. Loans 1775-1898. Port Clinton, OH: BNR Press (1988). . The Comprehensive Catalog of U.S. Paper Money. Port Clinton, OH; BNR Press (1997). . The Engraver's Line. Port Clinton, OH: BNR Press (1993). Pick, A.; C. Bruce, II and N. Shafer (ed.) Standard Catalog of World Paper Money. Vol. 1, 7th ed. and Vol. 2, 8th ed. Iola, WI: Krause Publications (1998, 1999). Scott Standard Postage Stamp Catalogue, Vol 2. Sidney, OH: Scott Publishing Co. (1999). U.S. Bureau of Engraving and Printing Archives. Nobody pays more than Huntoon for ARIZONA & WYOMING state and territorial Nationals .) 6573 -- (0 A++ + NE- 1)4 )i.1.0.14 1.11S 1/ 9KIINVIOL =Eft 1Z4t Peter Huntoon P.O. Box 60850 Boulder City, NV 89006 702-294-4143 WANTED Kentucky Series 1882 $5 Brownbacks 1 '23:50 ,/ YZ ishasimikpoir S 13,1 1: 116VM 4.4.`4)77,170,1 /4+77017,/ "A t :35-1TUO. Alio,sopmcv=itie- Serious collector paying top dollar for Series 1882 S5 Brownbacks on ANY Kentucky national banks, in VG-F or better condition, with good signatures. Send xerox copies to: Richard L. Deavers, 223 Reservoir Avenue, Central City, KY 42330; FAX 1-270-754-1805 or r_deavers_2000@yahoo.com PAPER MONEY • September/October 2001 • Whole No. 215 333 Letter to the Editor Thanks for Being There! Working toward a private pilot's license and being a writer, I get to write about flying. The same is true about my interest in numismatics. I have written about aviation themes on coins and bank notes. (Some of these appeared in numismatic media, others in aviation venues.) I am working on another article along the same lines. Using the Harry Bass Research Foundation Database via the American Numismatic Society Web site, I discovered "Aviation and World Paper Money" by Mohamad H. Hussein from the July/August 1996 issue of Paper Money. I requested it from the ANA library and it arrived in due course. The work is astounding and I have benefited greatly from it. It is an important piece of research for me. Please accept my thanks to the author and the Society both. Sincerely Yours, Michael E. Marotta Thanks for the kind words Mike. One of the projects the SPMC Board is considering for the future is reprinting past award-winning PM articles as topical books to make this ref- erence material available to a new generation of collectors who weren't members when the articles originally appeared. rt. ASTMA N1 krlitrr tudrrii Pulltv Business College Currency I Breaking Up 30-year Reference CollectionChance of a lifetime • List $3 or free via e-mail259 Notes, including 113 UNL, 103 R-7 250+ checks, stocks, stamps, etc. Counterfeit detectors, scrapbooks, stereoviews, 3 CWT (NY760A-1d CN R-7) Items to be illustrated in forthcoming series/book Fred Reed P.O. Box 118162 Carrollton, TX 7501 1-81 62 e-mail: freed3@airmail.net 334 A Primer for Collectors BY GENE HESSLER BANCO CENTRAL DO BRASIL A 799101820011, Many Nations Honor Musicians on Notes-Part 2 1 BEGIN THIS COLUMN WHERE WE LEST V V.,ff in this series: Brazil. Hector Villa-Lobos (1887- 1959) is Brazil's most famous classical musician. He was devoted to the music of J.S Bach, however, the music he wrote, often based on folk melodies, was not immediately accepted. The popular Bachianos brasileiras was composed by this recipient of the French Legion d'honnezir. As a boy, he became a guitar virtuoso, an instrument syn- onymous with his compatriot and bossa nova composer, Antonio Carlos Jobim. For $1, or less, you can purchase the Brazilian 500 cruzados, P212, which shows the composer on both face and back. The engravers are Zelio Bruno da Trindade and Martha Elso Sasian Alvarado da Fonseca. Isaac Albeniz (1860-1909) was another prodigy, who performed at the piano at four years of age. His first audience assumed there was trickery involved, unable to compre- hend how the young child could play as he did. Posthumously, France bestowed the Grand Cross of the Legion d'honneur on this remarkable pianist. Five dollars should buy a Spanish 25 peseta note, P147, with his portrait. Manuel DeFalla (1876-1946), like Villa-Lobos, Bartok and others, often incorporated native folk melodies into his music. This contemporary of Albeniz was influenced by the music of Ravel and Debussy. This is evident in Nights in the Gardens of Spain and the Three-Cornered Hat. Three dollars is all you will need for the Spanish 100 peseta note, P152, with his portrait. Jan Sibelius (1865-1957) is known for his descriptive orchestral tone poems Finlandia and The Swan of Donde. And, if you are over 50, you might remember his Valse triste, September/October 2001 • Whole No. 215 • PAPER MONEY which served as the theme song for "I Love a Mystery" on radio. Most music lovers remember Sibelius as a stern old man with no hair. The Finnish 100 markkaa, P115, shows a much younger portrait; the note will cost about $15. Three Austrian musicians are honored on bank notes. The only note that will be out of reach for most collectors is the 1000 schilling, P135, with the portrait of Anton Bruckner (1824-1896) engraved by Rudolph Zenziger. The back, which shows the organ at Saint Florian, was engraved by Rudolph Toth. This note in Uncirculated condition will cost at least $250. So, for Bruckner, it might be necessary to settle for an Austrian coin with his image: The 25 schilling will cost about $5. Composing for austere and pious Bruckner was a religious undertaking. His music can be glorious, providing you have the patience to wait for those moments. (Leonard Bernstein was a champion of the music of Gustav Mahler and Anton Bruckner.) Franz Josef Haydn (1732-1809) could be considered as the composer who established the classical style, which fol- lowed the more ornate baroque. The list of Haydn's composi- tions, including 108 symphonies, in the Grove Dictionary of Music and Musicians fills more than 40 pages! His most illus- trious student, W.A Mozart, became the quintessential com- poser of the classical period. The 20 schilling note, P129, should be found for about $10. Johann Strauss (1825-1899) and the Viennese waltz are synonymous. Everyone recognizes his Blue Danube Waltz. If you watch (on PBS) or listen (on NPR) to the annual New Year's Eve concert from Vienna, you can't escape the music of Johann Strauss. The 100 schilling note, P138, with a large portrait of the Waltz King will cost about $25. The engraver was Alfred Nefe. In addition to his Latin name, Jacobus Gallus (1550-1591) is also known by his German last name Handl; both names translate as rooster. His masses and motets were eclectic, blending styles and techniques of the 16th century. Like J.S. Bach, two centuries later, his music summed up what every- one had been written in his lifetime. The Brazil, P212 Slovenian 200 tolarjev, P15, should cost about $5. Orlando (Roland) de Lassus (1532-1594), was one of the most prolific composers of the 16th century. He is most often compared to an equally prolific contemporary, Palestrina, who also died in 1594. In addition to all his church music, the Franco-Flemish Lassus composed secular music, including some drinking songs. The Belgian 20 franc note, P132, will cost about $2. (Copyright story reprinted by permission from Coin World, October 28, 1996.) PAPER MONEY • September/October 2001 • Whole No. 215 335 CHECK THE "GREENSHEET" GET 10 OFFERS THEN CALL ME (OR WRITE) FOR MY TOP BUYING PRICES The Kagin name appears more often than any other in the pedigrees of the rarest and scarcest notes (U.S. Paper Money Records by Gengerke) BUY ALL U.S. CURRENCY Good to Gem Unc. I know rarity (have handled over 95% of U.S. in Friedberg) and condition (pay over "ask" for some) and am prepared to "reach" for it. Premium Prices Paid For Nationals (Pay 2-3 times "book" prices for some) BUY EVERYTHING: Uncut Sheets, Errors, Stars, Special Numbers, etc. I can't sell what I don't have Pay Cash (no waiting) - No Deal Too Large A.M. ("Art") KAGIN 505 Fifth Avenue, Suite 910 Des Moines, Iowa 50309-2316 (515) 243-7363 Fax: (515) 288-8681 At 81 Now is The Time - Currency & Coin Dealer Over 50 Years I attend about 25 Currency-Coin Shows per year Visit Most States (Call, Fax or Write for Appointment) Collector Since 1928 Professional Since 1933 Founding Member PNG, President 1963-64 ANA Life Member 103, Governor 1983-87 I I I I IMMO September/October 2001 • Whole No. 215 • PAPER MONEY336 THIS IS OUR FIRST ANNUAL INTERNA-tional issue and I hope you like it. Editor Fred Reed has plans for other special issues in the future. See the notice on page 280 for details. I hope that you made it to Memphis for the 25th International Paper Money Show, what a milestone! A "job well done" goes out to Mike Crabb and the Memphis Coin Club. It was a very good show with an active bourse, first rate exhibits and many fine educa- tional society meetings. I want to thank Dr. Douglas Ball for speaking on Confederate bonds at our meeting. It was a very enlightening talk on this subject. Also, I must not forget to mention Memphis' fine food which is a highlight of the show every year! Fred Reed stepped down as Secretary at the show, so the board nominated and voted on the following as officers for the next 2 years: Vice President - Wendell Wolka; Treasurer - Mark Anderson, and President - Frank Clark. In July, with approval of the Executive Board, I appointed Torn Minerley to the post of Secretary. This is a very key office in SPMC and I appreciate Tom for volunteering. On a sad note, past ANA President and long time SPMC board member Steve Taylor passed away at the beginning of July. Though he did not attend Memphis this year, he was presented with a SPMC Award of Merit. Steve was a true paper money ambassador and will be sorely missed. Regional SPMC meetings are coming up. If you are attending one of these shows, please also attend the SPMC event. Judith Murphy has worked hard to put these together. Meetings will be held at the September Strasburg show, the October North Carolina Numismatic Association show in Hickory, NC and in St. Louis at the PCDA show on November 17th. For the latest SPMC news, please visit our website. For other society happenings, read the minutes of the Memphis board meeting in this issue. We have several interesting and educational projects in the works, including sponsoring a paper money teacher at the ANA summer seminar. We also will be donating to the Smithsonian Institution to help research and facili- tate bringing the national currency proofs and other currency proofs to paper money shows in the future. Peter Huntoon and others have spent countless hours organizing this important part of our nation's paper money heritage. I want to thank the members of the Executive Board for making my first two years as your President very enjoyable, and I look forward to serving SPMC for another two years. If you have any ideas or complaints, you can relay them to any member of the board. We are here to serve you. Frank Coming to Paper Money's Nov/Dec Issue Pearl Harbor Remembered Short Snorters You may have one and not even know it! MINN NMI Comprehensive Paper Money Index' • Hard Copy & Floppy Disk only $13 • I (searchable) Make checks payable to SPMC Mail to: Robert Schreiner POB 2331 L Chapel Hill, NC 27515-2331 IM=111 r I I I I I By George Tremmel Now For Sale Includes complete listing to all issues of the SPMC journal Paper Money 1962-1999 • 130-page Hard Copy only $12 • MIMI MIMI MINN 11•111 MINN MMII IMO MIMI NMI WORLD PAPER MONEY specialized in Poland. Russia & E.Europe ATS notes Free Price List www.atsnotes.com ats@atsnotes.com Tom Sluszkiewicz P.O.Box 54521, Middlegate Postal BURNABY, B.C., CANADA, V5E 4J6 WANTED COLONIAL/CONTINENTAL BANKNOTES Any Quantity, Any Condition. Ship in confidence to: Steve Pomex (Member ANA, SPMC, IBNS) PO Box 2, Ridgefield Park, NJ — 07660 Tel: 201-641-6641 / Fax: 201-641-1700 Email: Steve@Pomexport.com SOMETHING FOR EVERYONE Germany, 1922 10,000 Mark, Pick its 70&71 CU, cat. 12 The Pair $6.50 Zimbabwe, $5-$100, Pick #s 5-10 CU, cat. 41 The Set $12.50 FRN $2 Millenium District Set in Special BEP Album (#1219) $795 NBN Chase NB (2370) $5 1929 Type One. The only 1929 National with B suffix in serial no. Rare! Choice CU $350 U.S. Paper Money Guide and Handbook. Thoroughly comprehensive and lavishly illustrated. Hardbound, 480 pages. Updated and auto- graphed by author. $22.50 All items are postpaid. CARLSON R. CHAMBLISS Kutztown University, Kutztown, PA 19530 tel. 610-683-6572 " nsylorrETILIPALs++ -1.rmnownlasmoor THE FIRST NATIONAL BANN OF SANTA a HEW rnE.G.0 W.inVi7i:;„17:4 E000001A m3lmr.X1111011.I.I.IWIR9 • U.S. Paper Serial Number 1 National Currency Actively purchasing ALL National Currency: large size, small size, and uncut sheets. Please permit us to make an offer on one note, dupli- cates, or an entire collection. Deal with THE specialist FREDERICK J. BART (810) 979-3400 P.O. Box 2, Roseville, MI 48066 e-mail: BartlncCor@aol.com PAPER MONEY • September/October 2001 • Whole No. 215 337 I I I I I IIIIIJ PROTECT YOUR INVESTMENT: STORE IT IN MYLARrm! Oregon Pioneer Albums & Sleeves SafeKeeper Albums Flexible Albums Fit in a Safe Deposit Box Least Expensive Format Multi-Ring Binders Look best on a bookshelf Many Sizes of MYLARTM' Sleeves in Stock Custom Albums Also Available Complete Satisfaction Guaranteed Call, Fax, or Write Now OREGON PAPER MONEY EXCHANGE 6802 SW 33RD Pl. Portland, OR 97219 503-245-3659 Fax 503-244-2977 STOCKS & BONDS MONTHLY MAIL BID SALES RR's, Mining, Banking, etc. etc. Something For Everyone FREE LISTING RICHARD T. HOOBER, JR. P.O. Box 3116, Key Largo, FL 33037 Phone or Fax (305) 853-0105 F D T3204699 FDT3204 338 September/October 2001 • Whole No. 215 • PAPER MONEY `Canachan Journey' Notes Launch a New Century By Harold Don Allen Innovative and artistic, the Bank of Canada's new currency series proves the "good old days" off banknote design are still here, but will this pastel aes- thetic treasure also kick of a gold rush stampede for the Dominion's earlier notes, too? Our northern neighbor's paper money is certainly worth a look. C , ANADA LAUNCHED A FIVE-DENOMINATION NOTE series in January, the sixth of its central bank, with the release of a colorful and imaginative $10 value. The new note is to be followed by a $5 later this year, and $20, $50, and $100 values in years imme- diately ahead. Canada's $1 and $2 denominations have been wholly replaced by coins. The Canadian dollar trades at roughly 65 cents, U. S. Taking as a unifying theme, "Canadian Journey," the new series should be interesting to world collectors, if the $10 note is indicative. The purple $10 depicts Sir John A. Macdonald, first Canadian Prime Minister (1867-1873 and 1878-1891), with a multicolor reverse intended as "a tribute to Remembrance Day and Peacekeeping" -- incorporating doves (peace) and a wreath of poppies LIL0.20.0e0■100.1ZOIRO , F6862228 F6862228 ---132mia ;1-3)',401flp mr exavittl)it . clitykit .4 TWOMIDIMPLAWS A. ...O. e..zle aeo,.Ar. , -pm 11 %SA THE C K C CONNER WILLPFfYLOBERRER N DGroi1 N D PAPER MONEY • September/October 2001 • Whole No. 215 339 (commemoration) with a verse of John McCrae's "In Flanders Fields," in tiny lettering. This new Canadian issue may be regarded as of two-fold collector signifi- cance, since it represents a central bank developing its own ideas for a modern and necessarily complex currency series, and since it also serves to introduce world collectors to the rich culture of Canadian paper numismatics, aspects of which have yet to be fully appreciated by many Canadians themselves. The face of the new $10 note incorporates strong anti-counterfeiting defenses -- necessarily, of course -- including limited but forceful use of intaglio (the portrait, arms, numeral, and bank name), with "hidden" elements (which can be viewed obliquely). The distinctly ornate structure to the right of the portrait is Canada's historic Library of Parliament, the only portion to sur- vive when the original Parliament Buildings were destroyed by fire. The Library featured prominently on the last Dominion of Canada $1 note (large size) of 1923. A prominent anticounterfeiting device on the face of the new $10 is the trio of pale maple leaves which become iridescent, reflecting a gold color, should the face be tilted. Also, in a vertical band, the denomination, arms, and bank name, otherwise invisible, under ultraviolet should strongly fluoresce. Elements of engraved micro-lettering clearly are beyond the resolution power of current photocopiers or scanners and printers. Planchettes, incorpo- rated in all previous Bank of Canada issues, are missing, being replaced by blue security fibers, which do not glow, and white (invisible) fibers, which glow red. Bank literature evidences pride in the new notes' "tactile feature," a pat- tern of raised dots intended to help the visibly impaired to identify the denomi- nation. Four other notes in the ''Canadian Journey" series will honor Oueen Elizabeth II, as Canada's head of state ($20), and former prime ministers Sir Wilfrid Laurier ($5), William Lyon Mackenzie King ($50), and Sir Robert Bank of Canada Series 1937 $20 Canadian Bank of Commerce Series of 1935 $20 otiltamutirlip,%', 44?:=4-- 53516153 -13516153 11A'4‘, 1' VEAL otr.vn 0Q' loliu.Vinrytn,cua irait'a: '11 'WY!,'DIED ONE HUNDRED DOLLARS Bank of Canada Series of 1972 $5 T AGOURS ettUji... THIS NOTE IS LEGAL TEN DER LAN[urx currylliiegtoRnow oouvErata um ocnriola 57 4:1 340 September/October 2001 • Whole No. 215 • PAPER MONEY Bank of Canada Series of 1954 $100 Borden ($100). The respective themes (backs) are to be "Arts and Culture," "Children at Play" (ice hockey, I hear), "Nation Building," "Exploring and Innovating." Notes of previous Bank of Canada issues, Dominion notes, and most notes of "chartered banks," are redeemable through the central bank. Acquiring one of the new notes may prompt the out-of-Canada collector to look to earlier series. The Bank of Canada released two issues with a strong allegorical flavour in 1935 and 1937. Apart from varieties, the long-lived 1937 issue, in average condition, remains common in dealer stock. The 1954-dated Third Issue, depicting a youthful Oueen Elizabeth and along simplified lines, is actively collected. Eight note reverses, $1 through $1000, illustrate representative Canadian scenes. Still other Canadian vistas appear on the more elaborate Fourth Issue (from 1969), which would seem otherwise to lack a unifying theme. The Fifth Issue (from 1986) featured Birds of Canada reverses, against a backdrop of "CANADA" in the sky. A Centennial Dollar note, in essence a modified "1954" with Canadian Centennial logo and a "Old Parliament Ruildings" historic reverse, saw service in 1967. The central bank's one other commemorative was a $25 in royal pur- ple-depicting King George V and Queen Mary on the silver anniversary of their coronation, with Windsor Castle on back. Canadian notes from prior to 1935 were issued in the name of the Department of Finance ("Dominion of Canada" notes), or else were the dis- tinctive issues of "chartered banks." "Dominion" notes most often are seen in 25 cent, $1, $2, $4, and $5 denominations, while (for decades) most $5 and all $10, $20, $50, and $100 denominations were releases of chartered banks. Dominion notes, in general, have become decidedly pricey, especially in better grades. So have some chartered bank issues, but by no means all. Common varieties of notes of the 10 chartered banks that retained note issuing EARLY AMERICAN NUMISMATICS • 619-273-3566 We maintain the LARGEST ACTIVE INVENTORY IN THE WORLD! COLONIAL & CONTINENTAL CURRENCY SEND US YOUR WANT LISTS. FREE PRICE LISTS AVAILABLE. EARLY AMERICAN NUMISMATICS do Dana Linett P.O. Box 2442 • LaJolla, CA 92038 619-273-3566 Members: Life ANA, CSNA, EAC, SPMC, FUN ANACS SERVICES: _I Portfolio Development 01 Major Show Coverage 0 Auction Attendance SERVICES: Portfolio Development 0 Major Show Coverage CI Auction Attendance tiezcr-- „4.004..,940.10, so,. withoigigt itojzt*. , In* Your Hometown Currency Headquarters Top prices paid for National Currency Collections, Large-Size Type Notes, All Florida Currency and Scrip Largest Inventory of National Currency & Large-Size Type Notes! E-mail: wymoney@aol.com Call 1-800-327-5010 for a Free Catalog or write '-'41,1ir lree,a7. See our website at williamyoungerman.com for over 1,000 Nationals in stock William Youngerman, Inc. Rare Coins & Currency "Since 1967" P.O. Box 177, Boca Raton, FL 33429-0177 Member: PNG, PCDA, ANA, SPMC and others r PAPER MONEY • September/October 2001 • Whole No. 215 341 L SMX71 Y 7."'-- ,2-„,,, likon tit ( I. Ai/CVO/NIRO SY R.S.C. cAR3x (114› .. °II- VlSegrit NUM, OWW-.441, JA //// /9 0 0 342 September/October 2001 • Whole No. 215 • PAPER MONEY Dominion of Canada Series of 1900 25 cents privileges into World War II remain great bargains, I would say. But then, my favorite U. S. bill is a latter-day Bank of America, principally because I devel- oped a fondness for the institution during my California graduate school days! There's lots to choose from in Canadian paper, and the central bank's Issue of 2001 would seem a worthy extrapolation of a storied past that "south of our border" collectors might look into. research exchange: a service for SPMC members • Roger B. Taney. I need, if there is one available, a photograph of a note with Justice Roger B. Taney. No one I have asked can even confirm his being portrayed on PM. There are two or so still unidentified portraits on Maryland PM that do not look too much like him, but you never know. Actually, his portrait on currency from any state will do. I also need a good quality picture of duel- ing pistols. Contact johnnybanknote©webtv.net or C. John Ferreri, PO Box 33, Storrs, CT 06268 • Waterman Lilly Ormsby. For a future article in Paper Money, I am looking for a photograph or other illustration of 19th century bank note engraving genius Waterman L. Ormsby. Contact Robert McCabe, c/o Toxicology, 5426 NW 79th Avenue, Miami, FL 33166 or fred@spmc.org • New York Obsolete Bank Notes (1784-1865). Researcher requesting info for SPMC state catalog on banking details for NY obsolete notes. All information welcome. At the moment, I am interested in any notes from "The Woodstock and Saugerties General Manufacturing Co." at Saugerties. I am looking for infor- mation when the bank opened and for how long, who the President and Cashier were, year of issue of notes, capital at founding, etc. Will gladly reimburse cost and postage of material received. Contact jglynn@zoom.co.uk or John Glynn, 41 St. Agnells Lane, Hemel Hempstead, Hefts HP2 7ax, England • Macerated Money. Wanted any information that would help in publishing a book on items made between 1874-1940 out of chopped up U.S. currency. Who made the products, where sold, etc.? Any help appreciated. Contact Bertram M. Cohen, 169 Marborough St., Boston, MA 02116-1830 or marblebert@aol.com • Eastman College Currency. Authors jointly revising current cat- alog of Eastman notes. New listing will appear in Paper Money serially and subsequently as a separate pamphlet. Wanted xeroxes of unlisted notes, or census data of your current hold- ings. Contributors will be acknowledged or kept confidential, as you desire. Contact Fred Reed, P.O. Box 793941, Dallas, TX 75379-3941 or freed3@airmail.net or Austin Sheheen, P.O. Box 428, Camden, SC 29020 • New York County and town Civil War bounty bonds information wanted. Also information on railroad and turnpike bonds and financing. Contact donfarr@prodigy.net or Don Farr, 19701 SW 110th Ct #837, Miami, FL 33157. • FNB of Groton, NY (Charter #1083). Wanted illustrations for article in Paper Money. Contact Karl S. Kabelac, 105 Raleigh St. Rochester, NY 14620-4121 or kkabela1@rochester.rr.com • Delaware Obsolete Notes and Scrip. SPMC state catalog researcher seeks information on existing notes, including serial and plate numbers. Records of other Delaware material such as old lottery tickets, vignettes, Colonials and National Currency are also being kewpt for population statistics. Will gladly pay copying costs and postage for pictures of your Delaware material. Contacts confidential. Contact napknrng@dmv.com or Terry A. Bryan, 189 South Fairfield Drive, Dover, DE 19901-5756 MILITARY PAYMENT CERTIFICATES ALLIED MILITARY CURRENCY POW AND CONCENTRATION CAMP NOTES And their related Books BUYING and SELLING Free Fixed Price lists issued bimonthly Replacements & Multiprints a Specialty Web Site www.thempcman.net David E. Seelye ANA LM 1088 North Chili, NY 14514 USA NI LM49 Phone 716-594-1987 IBNS 8238 FAX 716-594-2311 SPMC 10297 email: coinman@rochester.rr.com Comprehensive Catalog of Military Payment Certificates 2001 by Fred Schwan $54.95 postpaid 1997 $39.50 postpaid Judith Kagin Don Kagin PAPER MONEY • September/October 2001 • Whole No. 215 343 Is proud to continue the legacy begun in 1933 Specializing in Quality and Rare U.S. Currency U.S. Large Size Fractionals U.S. Small Size Nationals National Gold Bank Notes Kagin's -- an established name for conservative grading of quality notes. We specialize in building U.S. currency collections of premium quality and rare notes. Favorable terms to suit your individual needs. Fr. 377 $100 Series 1890 Treasury/Coin Note Back This note has long been known as the WATERMELON note because of the distinctive large zeros on the back resem- bling watermelons. David Farragut, our nation's first full admiral, is pictured on the face. This note was authorized as part of the Silver Bullion Purchase Act of 1890. Under pressure from silver mining interests, Congress forced the Treasury to purchase a substantial amount of silver and then to coin it into silver dollars. These notes were backed by those silver coins. However, the Secretary of the Treasury could pay out in either gold or silver coins. There are only 33 known to exist Kagin's 98 Main Street #201 Tiburon, CA 94920 1-888-8KAG I NS www.kagins.com Kagins@earthlink.net 344 September/October 2001 • Whole No. 215 • PAPER MONEY Other tleship N BY WENDE L WOLKA C OLLECTORS OF U.S. NOTES ARE FAMILIAR WITH THE famous "Battleship Note," the Series 1918 Federal Reserve Bank Note. Its back features a vignette of the battleship New York, ..: engraved by C.M. Chalmers. Recently I decided to start collecting,,,,•, Canadian Chartered Bank notes and discovered that there is another "Battleship Note." The Royal Bank of Canada, Montreal, issued a $10 note in 1913, which featured a face vignette of the battleship Bellerophon. That's about all I knew after consulting the standard catalog for this col- lecting area, The Charlton Standard Catalog of Canadian Bank Notes. However, a little digging on the Internet yielded the following additional information. As it turns out, the ship was not part of the Canadian Navy, but rather the Royal Navy. The ship was one of three Bellerophon Class battle- ships constructed between 1906 and 1909; the Bellerophon, Superb, and Temeraire. The Bellerophon was laid down on December 3, 1906, launched on July 27, 1907, and completed in February, 1909. The Bellerophon was 526 feet long and 18,800 tons. She was powered by eighteen boilers which drove steam turbines producing 23,000 horsepower. These could move the ship at a speed of nearly 21 knots. She carried a crew of 732 officers and men and was armed with a number of 12-inch and 4-inch guns as well as three 18-inch torpedo tubes under the waterline. Notable events during the ship's service included collisions with the battle cruiser Inflexible in 1911 and a merchant ship in 1914. The Bellerophon partici- pated in the fabled Battle of Jutland in 1916 as part of the Fourth Division of dalta*Mt. ,11711.11111r'' PAPER MONEY • September/October 2001 • Whole No. 215 345 the Fourth Battle Squadron. After World War I, the Bellerophon was used as a turret drill ship until 1919. It was then declared surplus in 1920. The ship was sold for scrap in November, 1921, to satisfy the Washington Naval Treaty which put limits on the types and sizes of warships which could be built and retained in the fleets of the signatory nations, including Great Britain. Her two sister ships suffered similar fates by 1921. The last remaining question to answer was the background of the ship's name, Bellerophon. The answer came quickly from the MSN Encarta online encyclopedia: "Bellerophon, in Greek mythology, the son of Glaucus, king of Corinth; he was the hero who tamed the winged horse Pegasus with the aid of a bridle given him by the goddess Athena. Falling in love with the wife of King Proetus of Argos, Bellerophon aroused the jealousy of Proetus, who sent him to his father-in-law lobates, king of Lycia, with a message requesting that the bearer be slain. "The king, having entertained Bellerophon before he read the mes- sage, was afraid to anger the god Zeus by carrying out a request that would break the traditional bond between host and guest. Instead of killing Bellerophon, he asked him to kill the Chimera, a fire-breathing monster, which the hero did with the help of Pegasus. "He also defeated the Solymi and the Amazons, two warrior tribes. Iobates was impressed by Bellerophon's superhuman courage and married him to his daughter. After a time of prosperity, Bellerophon defied the gods by trying to ride Pegasus up to Olympus, but, thrown to the earth by the horse, he wandered in misery until he died." So, there you have it. A bank note that combines beauty and World War I naval history, and even a role in a modern action film plot (In last year's blockbuster Tom Cruise film, Mission Impossible 2, Bellerophon was the name of the antidote to the lethal virus, Chimera, that was a central part of the movie's storyline.) with a dash of the Greek classics thrown in to boot. What more could you want? SOURCES Allan, Walter D. (ed.). The Charlton Standard Catalogue of Canadian Bank Notes, 3rd Edition (1996). Hessler, Gene. Comprehensive Catalog of U.S. Paper Money, 6th Edition (1997). MSN Encarta online encyclopedia. Tarrant, V.E. Jutland -- the German Perspective (1995). Haze Gray & Underway Naval History Information Center: http://www.hazegray.org/navhist/It was then declared surplus in 1920. + 346 September/October 2001 • Whole No. 215 • PAPER MONEY SPMC Board Meeting June 16, 2001 Marriott Hotel, Memphis Meeting called to order by President Clark at 7:40 A.M. Members Present: Ronald Horstman, Fred Reed, Benny Bolin, Frank Clark, Wendell Wolka, Arri Jacob, Mark Anderson, Bob Cochran. The minutes from the previous meeting had been mailed to all officers and Board members. Motion by Wolka, second by Bolin, the minutes of the previous meeting were approved as written. President Clark called for a vote to approve the re- election of the current officers. A brief discussion ensued, focusing on the lack of a report by, or candidates proposed by, a nominating committee. President Clark indicated that he had contacted all of the sitting officers and that they had agreed to serve another term. At this point Secretary Reed tendered his resignation from that office. He indicated that he preferred to con- centrate his time on his position as Editor of Paper Money. (Note: subsequent to the meeting Tom Minerley was elected to the position of SPMC Secretary by the Board.) Frank Clark was nominated for a second term as President by Fred Reed, motion seconded by Mark Anderson. Wendell Wolka was nominated for a second term as Vice President by Mark Anderson, motion sec- onded by Fred Reed. Mark Anderson was nominated for Treasurer by Fred Reed, motion seconded by Bob Cochran. The nominees were elected by acclamation. Vice President Wendell Wolka presented the Vice President's report. Treasurer Mark Anderson presented a very detailed report, furnishing binders showing 9-months' running and cumulative activities. The financial status of SPMC is quite solid. Mark also announced that the SPMC Breakfast the previous morning had added approximately $700 to the SPMC Treasury. Webmaster Wendell Wolka reported that the Society's web site, maintained through the courtesy of member Glen Johnson, was once again the Society's top inanimate recruiter of new members! Wendell reported that the Society had spent $17.50 to renew its domain name. Wendell also reported that he and other SPMC members would be hosting a cake and cookie reception on the Saturday afternoon during the upcoming American Numismatic Association annual meeting. This will commemorate the "founding meeting" of SPMC, which took place during the 1961 ANA Convention, also held in Atlanta. The Atlanta Reception will have an engraved souvenir of the event. The outgoing Secretary submitted a report showing that membership was up nearly 100 members from this time last year. Current membership is 1727, including 307 Life Members, 1411 Annual Members, six Honorary Life Members and three Junior Members. Members reside across the U.S. and in 14 foreign countries. Fred attributed the increase to the improved position of the journal and intensified followup in dues collection. Under Old Business, Roger Durand brought the Board up to date regarding changes taking place at the ANA Library in Colorado Springs. During his term as SPMC Librarian, Roger had proposed donating the SPMC Library to the ANA Library, since the ANA Library has a much larger staff and the capability of stor- ing and lending out the material. However, some ques- tions regarding the stability of the ANA Library (at that time) were raised, and Roger agreed to report back to the Board. Roger stated that significant improvements had been made to the ANA Library, and that substantial work had been done to improve the physical facilities, the method- ology of the loan/return process, and the security of the material. He said that he would be visiting Colorado Springs this summer as part of the ANA Continuing Education program, and would report back to the Board this fall at the St. Louis meeting. Roger also indicated that the cost to instructors to participate in the ANA Summer Seminar Program was steadily increasing. Roger suggested that SPMC sponsor an instructor who would teach a class about paper money (exclusively). Mark Anderson submitted some possible guidelines for a class which would meet SPMC's desires: 1. The content material of the class would demonstrate an application to promote the hobby of collecting paper money 2. The funds could be payable to the instructor to defray personal costs. 3. The funds could be payable to the ANA to defray the costs. 4. A member in good standing of the Society of Paper Money Collectors will conduct the class. 5. The Board will establish a committee to determine the guidelines for the annual allocation and disbursement of these funds. 6. $1,000 should be made available in time for this year, with its use to be determined by Roger Durand. 7. $1,000 to be paid annually, subject to satisfactory reports made to the SPMC Executive Board. 8. This program to be continued indefinitely, subject to the availability of funds. A discussion followed. Arri Jacob, Mark Anderson, Gene Hessler and Wendell Wolka offered suggestions. Wolka's suggestion, encompassing many of the ideas in all of the suggestions, was turned into a motion: SPMC will provide $1,000 for 2001; this money will be used to sponsor an instructor of a class about Paper Money at the ANA Summer Seminar. The SPMC President appointed a committee to establish a process by which $1,000 per year will be donated to the ANA and be earmarked for "Paper Money Education." The Committee is com- PAPER MONEY • September/October 2001 • Whole No. 215 BUYING AND SELLING PAPER MONEY U.S., All types Thousands of Nationals, Large and Small, Silver Certificates, U.S. Notes, Gold Certificates, Treasury Notes, Federal Reserve Notes, Fractional, Continental, Colonial, Obsoletes, Depression Scrip, Checks, Stocks, etc. Foreign Notes from over 250 Countries Paper Money Books and Supplies Send us your Want List ... or ... Ship your material for a fair offer LOWELL C. HORWEDEL P.O. BOX 2395 WEST LAFAYETTE, IN 47996 SPMC #2907 (765) 583-2748 ANA LM #1503 347 PAPER MONEY will accept classified advertising — from members only — on a basis of 15e per word (minimum charge of $3.75). Ad must be non-commercial in nature. Word count: Name and address count as five words. All other words and abbreviations, figure combinations and initials count as separate words. No check copies. 10% discount for four or more insertions of the same copy. TRADE OR SELL $5 CH UNC 1929 National 906 Lexington, KY Type 2 for your UNC National. Write Robert Marshall, 87 Jane Dr., St. Peters, MO 63376 (216) CIVIL WAR ENCASED STAMPS rare 01994 limited 1st edition, unbound folios, antique oversize paper, autographed. Only $169. Fred Reed, POB 118162, Carrollton, TX 7501 1-81 62 (216) HUNTSVILLE, ALABAMA PAPER WANTED: Nationals, obso- letes, merchant scrip, checks, postcards, etc. Bob Cochran, Box 1085, Florissant, MO 63031. Life Member SPMC. (218) PAPER MONEY BACK ISSUES WANTED: #124 (July/Aug 1986) through #150 (Nov/Dec 1990). Bob Cochran, Box 1085, Florissant, MO 63031. Life Member SPMC. (218) BANK/BANKING HISTORIES WANTED: I collect, sell and trade bank histories. Whatcha got? Whatcha need? Bob Cochran, Box 1085, Florissant, MO 63031. Life Member SPMC. (218) RUSSIAN AND WORLD BANK NOTES, Paper Collectibles and Coins. Michael Haritonov, P.O. Box 1436, 40020 Sumy, Ukraine. SPMC member. (218) HELP ME TURN UP THESE NOTES! Thanks! Charter #3985, NB of Commerce of Dallas ($5, $10 T2 notes), and Charter #12736, North Texas NB in Dallas ($10, $20 T1 notes). Frank Clark, POB 117060, Carrollton, TX 75011-7060 (A) r Buying & Selling All Choice to Gem CU Fractional Currency Paying Over Bid Please Call: 916-687-7219 ROB'S COINS & CURRENCY P.O. Box 303 Wilton, CA 95693 L 348 September/October 2001 • Whole No. 215 • PAPER MONEY prised of Mark Anderson (Chairman), Wendell Wolka, Benny Bolin and Arri Jacob. Board Member Ronald Horstman questioned whether or not this money would be deposited in the ANA's General Fund. Motion approved. Peter Huntoon reported on his activities at the National Museum of American History at the Smithsonian Institution. He reported that all of the plate proofs of National Currency had been sorted by charter and type. Peter also reported that the physical facilities had been repaired and upgraded, to the point that the sheets are no longer in danger from the elements. Peter further reported that several SPMC members had visited the collections and performed research, some of which resulted in valuable information about the tech- niques used to print Fractional Currency. He further stated that the NMAH has prepared a "traveling exhibit" of items from their holdings, and has taken this exhibit to at least two major shows, one in Florida and one in California. The response from the public at these shows was overwhelming. Peter suggested that SPMC consider establishing an annual grant to the NMAH, to assist them in their research activities, as well as help defray the costs of transporting the exhibits. He said that the minimum amount for their needs would be $2000. A discussion ensued, including several motions which died for lack of a second. Arri Jacob suggested SPMC send NMAH a letter of intent, offering to donate $1,000 annually to be used for their Show Fund, and $1,000 annually to be used for their Research Fund. The motion was seconded by Wendell Wolka, and it passed. Editor Fred Reed submitted an extremely detailed report, documenting the countless hours he has spent producing the issues of Paper Money and many other tasks. He requested that his salary be established at $55 per page for each issue of Paper Money that he produces. He recused himself from the meeting so the Board could consider his request. His request was approved, Ron Horstman dissenting. When he returned, Fred gave the advertising report in the absence of the Advertising Manager. Receipts from advertising have increased three-fold allowing for larger magazines. He promised a fuller report including a recommendation for revised rates at St. Louis. Arri Jacob displayed the new officers' badges he had designed and produced. These badges will be made for each of the members of the Executive Board. A price will be established whereby SPMC members may purchase personalized badges, and an announcement will appear in Paper Money (please see page 318). Fred Reed, Chairman of the George Wait Memorial Award Committee, reported that no candidates had sub- mitted applications for the 2000 award. He proposed some changes to the amounts to be offered in future. The proposed changes were defeated. The 2001 award will be $500 again and an official "Call for Entries" will be pub- lished in Paper Money in November. Recruiting Chairman and President Frank Clark passed out his report on top recruiters, and announced that Tom Denly was the top living recruiter of new members for 2000-2001. Denly, who also won the award last year graciously accepted an engraved SPMC mug in lieu of the $100 award. The Board voted to rescind the monetary award for future recipients. A brief report was given for Wismer Chairman Steve Whitfield who could not attend, indicating that 10% of the scans for the Mississippi book are unacceptable which had delayed publication. President Clark presented 1929 Nationals' Chairman David Hollander's report listing all unreported charter numbers. Wendell presented Judith Murphy's report on Regional Meetings. President Clark will mention upcoming events in his "President's Message." Benny Bolin reported on creating and mailing out 25- and 40-year membership certificates which had been approved by a mail vote earlier this year. Benny said everyone who had at least 25 years' longevity had received a 25-year certificate and charter members had also received a 40-year certificate. This will be an annual project as more members reach those milestones. It was decided that the proposed new perpetual membership cards should be handled by the new Secretary. Editor Reed said he would have a report at St. Louis on his suggestion that the Society reprint topical volumes of past award-winning articles. President Clark reported on the voting for Board Members in the recent election was as follows: Steve Whitfield - 212, Wendell Wolka - 253, Robert Schreiner - 195, Fred Reed - 244, Tom Minerley - 112. A total of 289 ballots were received, with one rejected for having no votes, for a total of 1016 total votes. The top four vote getters are elected to three-year terms. The meeting adjourned at approximately 11 A.M. Respectfully submitted, Bob Cochran (Acting Secretary) IPMS Awards: Nathan Gold Memorial Award - Fred Reed Awards of Merit - Mike Bean, Steve Taylor, George Tremmel Top Recruiter Award - Tom Denly Literary Awards: 1st - Peter Huntoon Nov/Dec 2000 "Plate Letters on Large Size National Bank Notes;" 2nd - Dennis Schafleutzel May/Jun 2000 - "A Primer on the Bank of Chattanooga;" 3rd - Gene Hessler concluded Sep/Oct 2000 - "Some Women Who Made A Difference" SPMC Best of Show Exhibit at IPMS - James Simek "Small Size National Bank Note Varieties, etc." Julian Blanchard Award - Walter Allan "Original Bank Note Vignettes" 1890 $1,000 "Grand Watermelon" Note $500 1880 Legal Tender Serial #1 Washington Brownback avviumaptallni.3 Gobi We strongly recommend that you send your material via USPS Registered Mail insured for its full value. Prior to mailing material, please make a complete listing, including photocopies of the note(s), for your records. We will acknowlege receipt of your material upon its arrival. If you have a question about currency, call Lyn Knight. He looks forward to assisting you. n CX111 Currency Auctions 1882 $1,000 Gold Certificate PAPER MONEY • September/October 2001 • Whole No. 215 349 Currency Auctions If you are buying notes... You'll find a spectacular selection of rare and unusual currency offered for sale in each and every auction presented by Lyn Knight Currency Auctions. Our auctions are conducted throughout the year on a quarterly basis and each auction is supported by a beautiful "grand format" catalog, featuring lavish descriptions and high quality photography of the lots. Annual Catalog Subscription (4 catalogs) $50 Call today to order your subscription! 800-243-5211 If you are selling notes... Lyn Knight Currency Auctions has handled virtually every great United States currency rarity. We can sell all of your notes! Colonial Currency... Obsolete Currency... Fractional Currency... Encased Postage... Confederate Currency... United States Large and Small Size Currency... National Bank Notes... Error Notes... Military Payment Certificates (MPC)... as well as Canadian Bank Notes and scarce Foreign Bank Notes. We offer: • Great Commission Rates • Cash Advances •Expert Cataloging •Beautiful Catalogs Call or send your notes today! If your collection warrants we'll be happy to travel to your location and review your notes 800-243-5211 Mail notes to Lyn Knight Currency Auctions P. 0. Box 7364, Overland Park, KS 66207-0364 Lyn Knigh Deal With The Leading Auction Company in U.S. Currency A Collectors Universe Company Nasdaq: CLOT P.O. Box 7364, Overland Park, KS 08207 • 800-243-5211 • 913-338-3779 • Fax: 913-338-4754 • E-mail: lynfknight@aol.com • www.lynknight.com The Fractional Store at 624_5 ar—notes-so= )(128 I $ 4i441°N Ut20 A The One Million Euro notes are consecutively numbered and employ overt and covert security features. They are printed by the intaglio process on micro-threaded banknote paper. These notes are available in individual or bulk quantities with a certificate of authenticity. Some half and full size banknote sheets are available including banknote paper specifications. 350 September/October 2001 • Whole No. 215 • PAPER MONEY Any rract'ional Note. 411.)7i6)- will buy, trade, consign or upgrade any United States Fractional Currency Note in your collection. Silver Penny Currency and Coins, Ltd. Post Office Box 339, Red Feather Lakes, CO 80545 Toll Free: 1-877-204-5220 email: silverpennycoins@yahoo.com URL: www.fractionalnotes.com This first Euro Banknote Collectible may well revolutionize the Banknote Collectible Industry In January 2002 the Euro will become the official currency of the 15 member European union. The Naples Bank Note Company has commissioned artist Chris McCauley to create a non- negotiable collectible, the One Million Euro, commemorating this event. These notes will be issued in a limited edition of only 150,000. Wholesale & Retail Inquiries Invited OPVzfeã/-wbeMie/ K)09,0,emy Or visit our Website: www.banknotables.com 800-628-6298 Lynese Octobre, Inc. P.O. Box 5002, Dept. 33 Clearwater, FL 33758-5002 'Worth 11ajrr BEP Money Prints: Great, affordable, genuine prints of our classic and historic money. Lee Quast P.O. Box 1301, High Ridge, MO 63049 Phone 314-276-1162 - Fax 636-376-1162 •3171,1MFLIV1,11.71111101X41111.1t Buying Carl Bombara Selling United States Currency 164,1 „*1.11•1,64 P.O. Box 524 New York, N.Y. 10116-0524 Phone 212 989-9108 Pcd PAPER MONEY • September/October 2001 • Whole No. 215 351 cda SCCIETY PAPER MONEY COLLECTORS 0 0 0 X 0 0 Buying & Selling Quality Collector Currency • Colonial & Continental Currency • Fractional Currency • Confederate & Southern States Currency • Confederate Bonds • Large Size & Small Size Currency Always BUYING All of the Above Call or Ship for Best Offer Free Pricelist Available Upon Request James Polis 4501 Connecticut Avenue NW Suite 306 Washington, DC 20008 (202) 363-6650 Fax: (202) 363-4712 E-mail: Jpolis7935@aol.com Member: SPMC, FCCB, ANA ixoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxo) so WE PROVIDE THE FOLLOWING TO THE TRADE, AUCTION HOUSES, MUSEUMS AND PRIVATE COLLECTORS: *Professional *Auction Consulting Services* Representation* *Auction Cataloging *Consignment & Research* Brokering* 0 BRUCE R. HAGEN Buying & Selling U.S. Obsolete Currencya cr3 Stock & Bond Certificates • Historical Financial Documents P.O. Box 836 Bowling Green Station, New York, New York 10274-0836 0 1-212-721-2028 0 By Appointment In New York City gxoxoxoxoxoxoxaxoxoxoxoxoxoxoxoxoxoxoxaxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxoxopc 352 September/October 2001 • Whole No. 215 • PAPER MONEY SPMC Members Teach Paper Courses at ANA Summer Seminar By John W. Wilson SPMC was well represented among instructors at the ANA Summer Seminar in July. Pictured at right (L-R) are Mark Hotz co-instructor of "U.S. Large Size Paper Money," Joe Boling, co-instructor of "Military Numismatics Since 1930" and instructor of World War II Numismatics," Gene Hessler, co-instructor of "U.S. Large Size Paper Money," SPMC Vice President Wendell Wolka, who will instruct at next year's seminar, and Roger Durand, instructor of "Obsolete Currency." Also presenting currency courses were Peter Huntoon on "U.S. National Bank Notes," Christopher Madden on "Intaglio Engraving," Marc J. Currency on "Detection of Counterfeit U.S. Paper Money," and Fred Schwan, co- instructor of "Military Numismatics Since 1930." Messrs. Hotz, Boling, Hessler, Durand, Huntoon and Schwan are SPMC members. At its recent board meeting SPMC Governors voted monetary support for paper money courses at ANA Seminars. NEW MEMBERS MEMBERSHIP DIRECTOR Frank Clark P.O. Box 11 7060 Carrollton, TX 75011 SPMC NEW MEMBERS - 06/09/2001 10286 Doug Hoffman, 1728 East 4th, Hutchinson, KS 67501 (C, Large & Small), Tom Denly 10287 F. Tomas Duenas, Interlink #134, PO Box 02 -5635, Miami, FL 33102 (C & D), Remy Bourne 10288 Roy L. Freeman, Sr., 23 Mahan Ct, Winchester, KY 40391 (C, Kentucky Nationals), J. Phillip Elam 10289 Sr Jose E Ortiz Torres, P() Box 297, Calle 5B #38 Alturas De San Lorenzo, San Lorenzo, PR 00754-0297 (C, US), Website 10290 Catherine Reavis, 8802 Kapheim Ct, Charlotte, NC 28273 (C, Gold Certificates, National Gold Bank Notes), Website 10291 William Arnold, 5108 Bunn Ave, Cheyenne, WY 82008 (C, Small Size SC's & FRN's, Large Size USN's & SC's), Fred Reed 10292 James D. King, PO Box 1033, Osterville, MA 02655 (C), Frank Clark 10293 Paula DeGroot, 1201 Camden P1, Manteca, CA 95336, (C, US), Website 10294 Michael E. Cessac (C), Website 10295 Bagrat Sahakyan, 3 Nor Nork Massiv, 19A/18, Yerevan-56 375056 Republic of Armenia, (C & D, All), Website 10296 Michael A. Grant, 251 Colt St, Pennington, NJ 08534 (C, Jamaica, Great Britain, Ethiopia), Website 10297 David E. Seelye, Box 356, North Chili, NY 14514 (D, MPC, AMC, UNESCO & SOS notes), Frank Clark 10298 Dan Greydanus, 116 Hainesburg River Rd, Columbia, NJ 07832 (Large & Small $1 Type, Star Notes), Tom Denly SPMC NEW MEMBERS - 07/16/2001 10299 Ken Nelsen (C), Website 10300 Tony J. Ajram, PO Box 113-5103, Hamra, Beirut, Lebanon (D, Foreign), Fred Reed 10301 David Swann, 2023 Stein Way, Carrollton, TX 75007- 2214 (C, JLVI, US Small, Imperial Russian), Frank Clark 10302 Brian C. Giese, PO Box 461, Sturtevant, WI 53177 (C & D, Queen Elizabeth II Notes), Fred Reed 10303 Randall Fairclo, 4804 Matar St, Fort Worth, TX 76117 (C, Large & Small Type & Errors), Tom Denly 10304 Raleigh R. Delesbore, 1403 Hollowood Ln, Missouri City, TX 77489 (C & D, Silver Certificates, Nationals, CSA, MPC's, FRN's), Frank Clark 10305 Clifton J. Burt (C, Colonial), Website 10306 Guy O'Rear, 2261 NE 67th St Apt 1802, Fort Lauderdale, FL 33308-1229 (C, US Small and Large), Frank Viskup 10307 Brian Cullinan (C), Website 10308 Craig John Cook, 218 Bergen Ave, New Milford, NJ 07646 (C & D, US), Frank Viskup 10309 Herb Bell, 3617 Sugarloaf Ln, Valrico, FL 33594 (C, US Large), Frank Viskup 10310 Norman F. Pender, 534 N. Whitcomb Ave, Clarksville, IN 47129-2446 (C, US Large, Small Size $1's & $2's), Torn Denly DO YOU COLLECT FISCAL PAPER? The American Society of Check Collectors publishes a quarterly journal for members. Visit our website at http://members.aol.com/asccinfo or write to Coleman Leifer, POB 577, Garrett Park, MD 20896. Dues are $10 per year for US residents, $12 for Canadian and Mexican residents, and $18 for those in foreign locations. MYLAR D CURRENCY HOLDERS PRICED AS FOLLOWS BANK NOTE AND CHECK HOLDERS SIZE INCHES 50 100 500 1000 Fractional 4'/4 x 3 3/4 $17.75 $32.50 $147.00 $255.00 Colonial 51/2 x 3 1 /16 18.75 35.00 159.00 295.00 Small Currency Os x 2 '/8 19.00 36.50 163.00 305.00 Large Currency 7 1 /s x 3 1/2 23.00 42.50 195.00 365.00 Auction 9 x 3 3/4 26.75 50.00 243.00 439.00 Foreign Currency 8 x 5 30.00 56.00 256.00 460.00 Checks x 4 1 /4 28.25 52.50 240.00 444.00 SHEET HOLDERS SIZE INCHES 10 50 100 250 Obsolete Sheet End Open 8 3/4x14½ $13.00 $60.00 $100.00 $230.00 National Sheet Side Open 8 1/2 X 17 1 /2 25.00 100.00 180.00 425.00 Stock Certificate End Open 91/2 x 12 1 /2 12.50 57.50 95,00 212.50 Map & Bond Size End Open 18 x 24 48.00 225.00 370.00 850.00 You may assort note holders for best price (min. 50 pcs. one size). You may assort sheet holders for best price (min. 5 pcs. one size) (min. 10 pcs. total). SHIPPING IN THE U.S. (PARCEL POST) FREE OF CHARGE Mylar ID"' is a Registered Trademark of the Dupont Corporation. This also applies to uncoated archival quality Mylare Type D by the Dupont Corp. or the equivalent material by ICI Industries Corp. Melinex Type 516. DENLY'S OF BOSTON P.O. Box 1010, Boston, MA 02205 • 617-482-8477 ORDERS ONLY: 800-HI-DENLY • FAX 617-357-8163 VISIT MY WEB PAGE AT WWW.KYZIVATCURRENCY.COM FOR A GOOD SELECTION OF NOTES CONSERVATIVELY GRADED AND REASONABLY PRICED FOR THE COLLECTOR NATIONAL BANK NOTES LARGE SIZE TYPE SMALL SIZE TYPE STAR NOTES WEBS MISCELLANEOUS?? TIM KYZIVAT (708) 784-0974 PCDA, SPMC WANTED: NATIONAL BANK NOTES Buying and Selling Nationals from all states. Price lists are not available. Please send your want list. Paying collector prices for better California notes! WILLIAM LITT P.O. BOX 1161 Fremont, California 94538 (510) 490-1751 Fax: 9510) 490-1753 E-mail: BillLitt@aol.com Member SPMC, PCDA, ANA PAPER MONEY • September/October 2001 • Whole No. 215 353 r Judith & Claud Murphy We Buy & Sell Paper Money, checks, bonds, stocks, letters, old postcards, stereoviews, cdv's If it's old and it's paper, we have it! Box 24056 Winston-Salem, NC 27114 336-699-3551 fax: 336-699-2359 e-mail: MurphAssoc@aol.com www.murphyenterprises.com Fred L Reed 1111 fred@spmc.org September/October 2001 • Whole No. 215 • PAPER MONEY 354 SPMC Donations Increase For Member Year 2001 F VERY YEAR AT DUES TIME, MEMBERS AREi given the opportunity to designate voluntary contri- butions to the Society Publications Funds. These tax- deductible gifts help SPMC improve its publishing pro- gram by increasing the quantity and quality of books available to its membership. This year 88 members responded with donations to the Wismer Fund (obsolete currency books) or the Wait Fund (research and publication). Donations to the Wismer Fund totalled $1,038. Donations to the Wait Fund (established last year) were $557. Total gifts were up approximately 25% over last year. The Society is grateful to those members who designated nearly $1,600 in gifts to the Society this year. Additional donations received through Dec. 31st are tax deductible on this year's income taxes. This year's donors include: $100 or More • Jeffrey L. Phillips • G.B. Eddy • • Peter Luciani • Fred Reed • $50 to $99 • Donald L. Benson • John P. Ameen • •Roman L. Latimer • Ron Yeager • $20 to $49 • Donald Gilletti •Bruce Keener • • Roland Rivet • John Reusing • David Bossert • 'John Reusing • Charles Koehler • Don Farr • • Randy Vogel • Bernard Wilde • Robert Gould • • Philip Cucinotta • Howard Cohen • Cliff Dietrich • • Gaiy Lybeck 'Forrest Daniel • Russell Pike • • James Carlson • S.D. Reiss • Nelson Smotherman • Additional Donors • Charles Lindquist • John Vertrees • Frederick Angus • • Douglas B. McDonald • Ronald Hamm • • Cecil Brighton • John Kenneth Purcell • • Steve Taylor • Alvin Macomber • Gerald Loegler • • Robert Galiette • D.R. Sullivan • Paul Craig • • Larry Jenkins • John Golden • Frank Dwomik • • James Conway • Karl Vandervoort • Harry Schmook • • David Stark • Robert Eddy • Paul Andrews • • Glenn Fishe • Dustinn Gibson • Robert Archibald • • Jim Davis • James Welch • William Hatcher • • Mark Hartford • Phil Iversen • Nick Magnano • • Bruce Spence • Keith Bauman • Gayland Stehle • • David Bialer • Dean Paul Davis • Gregory Haraway • • Robert Lefever • Donald Dekalb • David Berridge • • Mark Ballinger • Greg Super • Charles Savidge • • Charles Loehr • Richard Ropp • Robert Bauman • • Leon Bookman • Craig Rathkamp • Gene Hall • • Mark Rielly • Richard Balbaton • • Paul Peffer • William Serockv • Anthony Nicolazzo • Jerry J. Kumler • Eugene Hiser • George Shubert • • Nelson Page Aspen • Wolfgang Beck • Paul Melnick • Subsequent donors may be recognized in future issues. ANA Honors Paper Money A T PRESS TIME WE WERE DELIGHTED TO BE nformed that your Society journal Paper Money had been selected by the American Numismatic Association a winner in its annual publications' contest. The message from Rudy Bahr, ANA Membership Director read in part: "Congratulations! On behalf of the ANA publications staff and the club represen- tatives program I am pleased to inform you that your publica- tion will be honored as a winner in the 2001 ANA Outstanding Club Publication Award contest." Thank you ANA. Free Ad for Paper Money Authors I received a thoughtful message from a new writer the other day. The gist of his communication was that the instructions for submitting articles can be rather daunting for a novice. His point is well taken. I don't want to turn off any author, and am more than willing to accommodate anyone desiring to share his hobby insights with our readers. Please take a minute to study the "rules" published on the first page of every issue. What they are meant to concisely convey is that it's easy and fun to write for your Society's magazine. They also provide some very handy tid- bits on how to do this most easily. The simple truth is that if you have never written for any publication before, you are still a prospective writer for Paper Money. A simple typed sheet and a xerox can be the basis for an article. I'll help you clean up gram- mar, spelling and style. So take an hour and type up a page on an aspect of paper money collecting that you know and send it to me. Chances are our readers will be glad you did. And remem- ber, short articles are ALWAYS needed, so you may see your arti- cle in print sooner than you expected. For your efforts, you'll receive the satisfaction of publishing an article in a well-respected journal. Focusing your attention on your hobby in order to write an article will be pleasant, and your friends will admire you for it. You will receive free contributor copies of the magazine, and will be eligible for a free classified ad also. At the recent Memphis board meeting, the executive com- mittee reinstated an old policy to provide a free classified ad in the "Money Mart" to authors of accepted articles. This is a perk, a privilege not a right, so let's make it easy on both authors and your Editor. To implement the Board's decision, I'll publish a three-line free classified ad in the next issue of Paper Money retroactively for any author who has had an article published in this magazine since I took up its reigns (Nov/Dec 1999, issue #204). Let's limit it to one free retroactive ad per author. Any author published after the Board's decision is also enti- tled to a free ad. For authors of upcoming articles, if you have received galley proofs from me of your article you may submit a free classified ad. In the future my cover letters with proofs will solicit free ads. Please note: ads will run at the discretion of the Editor. This may be before, concurrent or after your article is published as space is available. To see what fits on three lines, check out the "Money Mart" on page 347. 0••■•,P-no -inn M EM BE RA NA HARRY IS BUYING NATIONALS — LARGE AND SMALL UNCUT SHEETS TYPE NOTES UNUSUAL SERIAL NUMBERS OBSOLETES ERRORS HARRY E. JONES PO Box 30369 Cleveland, Ohio 44130 1-440-234-3330 I COLLECT MINNESOTA OBSOLETE CURRENCY and NATIONAL BANK NOTES Please offer what you have for sale. Charles C. Parrish P.O. Box 481 Rosemount. Minnesota 55068 (651) 423-1039 SPMC LM 114—PCDA—LM ANA Since 1976 AD INDEX AMERICAN SOCIETY OF CHECK COLLECTORS. 352 BART, FREDERICK J. 337 BERK, HARLAN J. 327 BOMBARA, CARL 351 BOWERS & MERENA GALLERIES IBC BUCKMAN, N.B. 355 CARSON VALLEY CURRENCY & COIN 289 CHAMBLISS, CARLSON 337 COHEN, BERTRAM 293 COLLECTIBLES INSURANCE AGENCY 329 COLUMBIA NOTES 331 CURRENCY AUCTIONS OF AMERICA 355 DEAVERS, RICHARD 333 DENLY'S OF BOSTON 353 EARLY AMERICAN NUMISMATICS 341 GORDON, LEE 289 HAGEN, BRUCE 351 HOOBER, RICHARD T 337 HORWEDEL, LOWELL C. 347 HUNTOON, PETER 333 JONES, HARRY 355 JOWETT, MIKE 331 KAGIN, A.M. 285,335 KAGIN'S 343 KNIGHT, LYN 349 KRAUSE PUBLICATIONS 291, OBC KYZIVAT, TIM 353 LAWING, MORRIS 310 LITT, WILLIAM 353 LITTLETON COIN CO. 299 MARSHALL, IAN 283 MAY, LEO 329 MORYCZ, STANLEY 295 MURPHY, JUDITH & CLAUD 353 NAPLES BANK NOTE COMPANY 350 OREGON PAPER MONEY EXCHANGE 337 PARRISH, CHARLES C. 355 POLIS, JAMES 351 POMEX, STEVE 337 QUAST, LEE 351 REED, FRED 333 ROB'S COINS & CURRENCY 347 RUBENSTEIN, J&F 331 SEELYE, DAVID 342 SHULL, HUGH 278 SILVER PENNY COINS 350 SLUSZKIEWICZ, TOM 337 SMYTHE, R.M. IFC STEINBERG, MEL 283 WEST, PAM 289 YOUNGERMAN, WILLIAM, INC. 341 PAPER MONEY • September/October 2001 • Whole No. 215 355 Always Wanted Monmouth County, New Jersey Obsoletes — Nationals — Scrip Histories and Memorabilia 1//enharst —Allentown — Asbury Park — Atlantic Highlands — Belmar Bradley Beach — Eatontown — Englishtown — Freehold — Howell Keansburg — Keyport — Long Branch — Manasquan — Matawan .1liddletown — Ocean Grove — Red Bank — Sea Bright — Spring Lake N.B. Buckman P.O. Box 608, Ocean Grove, NJ 07756 800-533-6163 Fax: 732-282-2525 September/October 2001 • Whole No. 215 • PAPER MONEY Tire g unprecedepted opportunity for Currency Buyers and Sellers I 356 Currency Auctions of America joins the Heritage family of companies Currency Auctions of America, America's most respected currency auctioneer, has just become part of the country's largest numismatic auction house, Heritage Numismatic Auctions. Building on the combined strengths of both companies, opportunities for buyers and sellers of paper money will greatly increase with more frequent CAA auctions at conventions around the country, and twice-monthly sales on the Internet at www.CurrrencyAuction.com . CAA founders Len Glazer and Allen Mincho, two of the top currency experts in the world, will continue handling all consignments, grading, and cataloging. CAA will be able to offer more material, hold more auctions, and have greater access to potential bidders through r Heritage's huge customer base, worldwide marketing expertise, financial strength, and advanced technology. This gives CAA the unmatched ability to attract potential consignors and bidders, which means more choices for paper money collectors: •more frequent auctions, containing larger amounts of material •access to Heritage's active mailing list of 50,000 names and web site membership of nearly 40,000 numismatists •online interactive bidding and paper money search engine capabilities at www.CurrencyAuction.com and www.HeritageCoin.com . •full color, enlargeable images of every single-note lot posted on the Internet •selected lots for the September CAA auction in Cincinnati will also be available for viewing through Heritage at the ANA convention in Atlanta in August •all CAA catalogs will be available in CD-ROM format as well as online • lead-times will be shortened between consignment deadlines and sale dates •greater financial resources for cash advances to consignors and for purchases We invite your participation in future CAA auctions. L CAA Upcoming Schedule: September 2001 - Cincinnati November 2001 - St. Louis - Charity Auction January 2002 - Orlando May 2002 - Rosemont MAU America's Sr Numismatic AuctioneerrrAGE mismatic Auctions, Inc. CURREN( Y AUCTIONS OF AMERICA Len Glazer 1-800-872-667 Ext. 390 (Len@HeritageCoin.com ) .ZAGC ,.;* arm; owl Allen Mincho 1-800-872-667 Ext. 327 (Allen@HeritageCoin.com ) www.CurrencyAuction.com Steve Ivy Am Halperin Greg Henan Heritage Plaza, 100 Highland Park Village, 2nd Floor • Dallas, Texas 75205-2788 • 1-800-US COINS (872-6467) • 214-528-3500 • FAX: 214-443-8425 www.HeritageCoin.com • e-mail: Bids@HeritageCoin.com • www.CurrencyAuction.com • e-mail: Notes@CurrencyAuction.com SP/AC 7/01 J 1 am interested in consigning my currency to one of your upcoming auctions, please contact me. q I would like a copy of your next Auction Catalog. Enclosed is a check or money order for 515, (or an invoice for $1,000 from another cur- rency company: Fax or Mail a copy to CAA). Li I would like a one-year subscription to all your Auction Catalogs. Enclosed is S50 for the year. q I would like a FREE copy of your video "Your Guide to Selling Coins and Currency at Auction." Fill in your e-mail address below for free, comprehensive e-listings, news, and special offers. Name COT Stele. Zip Daytime Phone Evening Phone FOR FASTER SERVICE, Call 1-800-872-6467 CURRENCY AUCTIONS OF AMERICA Heritage Plaza. 100 Highland Park Village, 2nd Floor • Dallas, Texas 75205-2788 219-528-3500 • FAX: 2t4-443-8425 gAm.FleritageCoineom • e-mail:Bids@HeritageCoin.com Len Glazer. Ext. 390 (Len@HeritageCoin.com ) Allen X1incho, Ext. 327 CAllen@lieritageCoin.com) , 0,vp:■firamai.,110:40:4101 ; 1 01' MONTGOMERY," /I • PM 0901A imemor IL REALIZE TOP MARKET PRICEFOR YOUR PAPER MONEY! Let Our Success be Your Success! Consign with Bowers and Merena Galleries Today! We offer you the incomparable and very profitable ad- vantage of having your material presented in our superbly illustrated Grand FormatTm catalogue to our worldwide clientele of collectors, investors, museums, dealers, and other bidders. Your paper money will be showcased by the same expert team of cataloguers, photographer, and graphic artists that have produced catalogues for some of the finest collections ever sold. And, the presentation of your currency will be supervised by Q. David Bowers, one of the most well- known names in the entire hobby. Choice VP 1861 Montgomery Issue $100, realized $25,.300 B W.0.* ----"=---7-14110111 100-Vflin Iii°11!"41ftt cow INA-OrAirre---6144–C 128the ,cluismarlutuuml.talaauv.474.uhallu =Val 21141111114111111210 int •affirilaft MAR - •1 011g",..--1-111—Megt 31W-Mil f'7-44S- 128 101 =6)' arasmi.frauswurviovulaluatashmaxwalaswJUISANZIONNII Weehawken, New Jersey $5 National Bank Note Pam Serial #1, realized S15,525 Impressive $100 Treasury or Coin Note, realized $138,000 Unique Territory of Dakota, National Bank Note, Serial #1, realized $55,200 It's Easy to Consign! Selling your collection will be a pleasant and financially rewarding experience. From the moment we receive your consignment we will take care of everything: insurance, security, advertising, worldwide promotion, authoritative cataloguing, award-winning photography, and more—all for one low commission rate, plus a buyer's fee. When you do business with Bowers and Merena, you do business with a long- established firm of unsurpassed professional and financial reputation. Over the years we have sold over $350,000,000 of numismatic items and have pleased more than 30,000 consignors. Just contact John Pack, our auction director at 800-458-4646 to discuss your consignment. It may well be the most financially rewarding decision you make. Buy n me, Bid Online, ooks Online! www.bowersandmerena.com BOWERS AND ERENA GALLERIES A COLLECTORS UNIVERSE COMPANY—NASDAQ: CLCT Box 1224 • Wolfeboro, NH 03894 • 800-458-4646 • In NH 569-5095 • FAX 603-569-5319 www.bowersandmerena.com • e-mail: auction@bowersandmerena.com Ritstnt'Sol„istest'f' SP19 $29.95 as. ,O4FORR.—ALTLOVERET 19th edition STANDARD CATALOG OF Ui)ited States Paper.M.opey By Chester L. Krause and Robert F. Lemke Joel T. Edler, Editor NATIONAL BANK NOTES • LARGE & SMALL SIZE BY SERIES • FRACTIONAL CURRENCY • ERROR NOTES - • POSTAGE STAMP ENVELOPES • ENCASED POSTAGE •PHILIPPINE ISLANDS COMMONWEALTH ISSUES • PRE•CIVIL WAR LLs. NOTES • GUIDE to AUTHENTIC AREFR9WN -c6 tiestandardrd catalog of " WORLD PAPER MONEY general issues volume two Edited by Neil Shafet & Cohn Ex. Bras' , 10770frolAMPio Lf: 1.9.32 HIOPiA; s • la,500 notes tasted shttions h'r up to cirrus gradewiLions tt€5e5 vii Fr • 230 issuing. tot rrigirsxt photos • Moth gee Ti Softcover •5y2 Iten To receive a FREE all-products catalog or to place a credit card order, Call 800-258-0929 Mon-Fri, 7 a.m. - 8 p.m. • Sat, 8 a.m. - 2 p.m., CST Mail to: Krause Publications, Offer N89S PO Box 5009 Iola, WI 54945-5009 Or visit and order from our secure web site: www.krausebooks.com Dealers can call toll-free 888-457-2873 ext 880, Mon-Fri 8 a.m. - 5 p.m. Shipping and Handling: $3.25 1st book; $2 ea . add'I. Foreign;orders $15 per shipment plus $5.95 per book. Sales tax: CA, IA, IL, PA TN. VA, WA, WI residents please add appropriate sales tax. SATISFACTION GUARANTEE I f for any reason you are not completely satisfied with your purchase, simply return it within 14 days and receive full refund, less shipping. Offer N89S