Paper Money - Vol. XLI, No. 6 - Whole No. 222 - November - December 2002

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Official Journal of the Society of Paper Money Collectors VOL. XLI, No. 6 WHOLE No. 222 NOVEMBER/DECEMBER 2002 VVWW.SPMC.ORG 1 IF ANA/83- OUR ANNUAL , INDEX, MEMPHIS EVENTS AND OTHER GREAT STUFF CHECK THIS OUT LAST IS NOT LEAST FOR MOT. PICTURE USf OMIT TICS NOTE IS NOT tYCAL TINOIR 441F( 'CM t% Ittithilibiat, J 4:416iiieT A 11 i 5 IC Pi,--, .-.,,,,,..iiir, ,,,....:____,„ ,....;Criv litmerst ,,,, ;hirLedVa41;:r . 4,11114 i''' ilfAill)illifeat: 4'll & 41;f1/1 . -'/1/ .*: Al 4711a1,..,:,,t4'=ar**IL t 1,40kxix. IS X to TEN', ',-,10 L JOIN US FOR THESE "MUST ATTEND EVENTS" The Strasburg Currency and Stock and Bond Show September 12-15, 2002 Lancaster Host Hotel, 2300 Lincoln Highway East (Route 30), Lancaster, PA 17602 Featuring: • A World Class Currency and Stock & Bond Auction by R.M. Smythe & Co. • Free Parking • 100 Booth Bourse Area • Pennsylvania Dutch Tourist Attractions • Factory Outlet Malls Nearby • Live Spider Press Demonstrations • Special Intaglio Souvenir card available only at the show Make Your Plans Now to be Part of this Exciting Collecting Tradition Show Hours: Thursday, September 12, 2-6 pm Saturday, September 14, 10 am-6 pm (Professional Preview, $25) Friday, September 13, 10 am-6 pm Sunday, September 15, 10 am-2 pm A three-day pass valid Friday-Sunday is $5 - Children 16 and under are FREE silwAnonamarzszonalsiMarot111111611WERIalliellit.. r.U Ii1P41 111 X667334H ""44"1"2-""-= 11063 547 Aratitia , row 4...4LIP EWA ; mum nou.a.,...1 4ta cer ,; !rY! ajik -%//1/r.:1/4//: 27// /, M;). ,- E_T; - UNITED STATES PAPER MONEY • November/December 2002 • Whole No. 222 341 At top: Second $5 title block. Also notice the redesigned hollow charter numbers in the border. Above: Third $5 title block. title...was inferior and inartistic, being produced by the patent lettering process, and that a new plate engraved in a more artistic style was prepared, not as a favor to the bank, but for the credit of this Bureau. This course has been pursued at the discretion of the officers of the Bureau to the extent that the state of the work permitted with those national bank notes plates on which the lettering was conspicuously inferior (Bureau of Engraving and Printing, various dates-b). Consequently, the I-J-K-L for The National Bank of Commerce made in August, 1896, had a totally new look. It sported in-line treasury signatures and a new title block. Two minor changes were also made: (1) hollow charter numbers replaced the smaller, solid numbers used previously within the bor- ders; and (2) the plate letters were moved to an outward position. The new plate carried the identical plate date and treasury signatures as its predecessors, respectively January 14, 1885 (date of extension) and Bruce-Wyman. The next four plates were the same. A careful reading of Table 1 reveals that M-N-O-P was approved a year after Q-R-S-T. The explanation is unknown; it could rep- resent a mistake in assigning the letters, or a delay in completing the plate. A third, even more modern, title block was used when the Bureau pre- pared the 7th plate (AA-B B-CC-D D) in July, 1902. This title block also was used on the 5th 10-10-10-20 plate made at the same time. Consequently the last six 5 5 5 5 and last three 10-10-10-20 faces had uniform title blocks. This layout has a turn-of-the-century look wherein the earlier artistic flairs are gone. The plate date and treasury signatures again were left unchanged as was cus- tomary for replacement plates. *CDP___5=AIGsozt- N ONALCI.TRUNt'V. ' .34,a0 7 :;:; 1,-oierrhyRion9 - : jj 1W4 8 inith thatti.trtrit*ittrr at 111/ 1 ,iliiiiition juNK COM)tERCi., 4311EVILL,— tonvAltTgiNi LL-11S 1 .' 1 . 1 ca. ou Dellialti). 4 441)r.:_y_!). 4#31=41C1W,-,..UL_74.015. '34 NA TI()NALL CURRENCY. .24Awn, RAW— -'1.4ViZt tiliNiterrit*- ___ 6,440,1011 k;, 0%0 -; ,,4",,,b 4 mt,,,,,,,A,,*441.12„i,./ , , r -,,,,,t,. 4 .• •-• • " ' • - •---- , 4.■•_. , ...... .40 WithithetiMe - - 11,1'''' - vottrer al fiwliinoton A /(., -A, , , . / 1/1,, ,, "7"— ' IMNI: OT C 031)1 1'; 1 I CE 1 10 1403.1111; N 1)0 I.W1 S t; ,«" on ociii,10. , 7 :L, •—•••—•k: 342 November/December 2002 • Whole No. 222 • PAPER MONEY At top: First $10 title block with upper left border counters arranged as: 10 -TEN-10-charter number-TEN-10. The 3rd 10-10-10-20 plate is identical. Above: First $10 title block with upper left border counters arranged in the scarcer format: 10-TEN-charter number-10-TEN-10. $10 AND $20 VARIETIES An infrequently used arrangement of the counters inside the top left bor- der on the $10 subjects on some early Series of 1882 10-10-10-20 plates reads: 10-TEN-charter number-10-TEN-10, whereas the more common variety is: 10-TEN-10-charter number-TEN-10. Doug Walcutt advised that the last use he observed of the scarcer variety was on a proof bearing an approval date of August 18, 1893. Comparison between the two arrange- ments for the border counters. The last observed use of the 10-TEN-char- ter number-10-TEN-10 variety was on a plate approved for use August 12, 1893. 1 1 1 • TV* gikEltig PS Set111E1h 1110 4 4 I* reaftistrcr at Nti (yr COA1)11,:itt% NI ,LA4,111 on Omani). f OC:rfrht,13: " .t.- 4W.alrE341-3e'• tr,Rti 'EL VC, _E., -_ ---re..4s. ,=14. F.- 3,4-1,aittaiiii cvs:gFyg-ev, ',3=g1L41,1-,J ,,,, 'V '.". Mititt 4 it ' Is S 4,..:4- UDR D In - ZIALuialLe - - - — W: ...„_,._:. ...,„.,..),„., .... / . / (., / )).-1---t,... ,..._,...) 1' . I' . tr, ta.,..1 ;‘..1§0103V1t4-mall,.., , ,-"/ 1 4 py. ,..",- .... .. ...1/1//. A /a.,,...14, . . . ,(01AVOMMLIZI.,, 4WD ..- .',?,,,L....• ...... .±.1N, 310,g4ZCZA*1-t'-= -3P31)%.030,3-#40.041=. ::: :OD tokiirthitieS.Vratis!st at 11 **IPA PAPER MONEY • November/December 2002 • Whole No. 222 343 Oddly, the second (D-E-F-B) 10-10-10-20 plate for The National Bank of Commerce carries the scarce variety. It was one of the last made with the variety, being approved for use August 12, 1893. All the rest of the plates have the common arrangement. Consequently, the style and placement of all ele- ments on the first and third plates are identical. Many early Series of 1882 10-10-10-20 faces made from American Bank Note Company rolls were altered or replaced as the series wore on. The early plates had the American Bank Note Company logo in the center of the bottom border, and the words "Printed at the Bureau, Engraving & Printing, U. S. Treasury Dept" in small letters inside either the upper left or upper right bor- der depending on whether the note was a $10 or $20. When the plates were altered or replaced, the Bureau logo was substituted for the bank note company logo in the lower border, and the "Printed at the Bureau, Engraving and Printing, U. S. Treasury Dept" was removed. The title layout on many replacement plates was totally redesigned as well. No 10-10-10-20 plates for The National Bank of Commerce were altered. Rather the conversion to varieties with the Bureau logo in the lower border took place with the manufacture of the J-K-L-D replacement in 1901. The title block was not changed at this time. Hidden stars were incorporated into the border designs on 10-10-10-20 Series of 1882 proofs approved on or after April 16, 1900. No one has discov- ered the significance of the stars, but whatever led to their use represented an abrupt occurrence. The last proof observed without the stars was approved on April 18th, 2 days after they first appeared. The hidden stars occur on the J-K- L-D plate for The National Bank of Commerce, which was made in 1901. At top: First $10 title block with Bureau imprint in the bottom border, and hidden stars. NBCstarl 0 & NBCstar20: Above: Second $10 title block. Also notice the hollow charter numbers in the border. Below: Details showing the locations of the hidden stars found on plates approved on or after April 16, 1900. The significance of the stars is unknown. trtrn".■ '5 0 fadk.•„till', watt 001)S1f10(11 n1,01 CS gion. 7'5 „ 9frAa IlitiNK pi; C 4)11-Itt; RcE --7 7" WADI) 344 November/December 2002 • Whole No. 222 • PAPER MONEY Only title block used on the $50 and $100 denominations. The plate was never modified by removing the American Bank Note Company imprint and moving the Bureau logo. The G-H-I-C plate, approved April 3, 1900, missed having them by less than two weeks. The 5th 10-10-10-20 plate (M-N-O-E) was approved July 31, 1902, the same day as the 7th 5-5-5-5 plate (AA-BB-CC-D D). The title block on it was the same modernized version used on the 5-5-5-5. Hollow charter numbers replaced the solid numbers in the borders on the 10-10-10-20, making them consistent with the $5s. 50-100 PLATE Only one 50-100 plate was made for the bank, a plate approved on January 9, 1885. The title block on the plate is typical of designs produced by the American Bank Note Company for the Original Series $50s and $100s. It was produced from rolls made from American Bank Note Company dies. This plate was never modified by removing the American Bank Note Company logo, or moving the Bureau imprint. DISCUSSION Large banks offer innumerable opportunities for variety collecting because the huge emissions from them required numerous replacement plates. Major and minor changes in successive plates reflect evolving practices in plate manufacture. Three different title blocks were used on the $5 Series of 1882 Brown Back face plates for The National Bank of Commerce in New York (733), a number that was otherwise unprecedented. The first comes with two placements of the Bureau imprint. Two title blocks were used on the 10-10- 10-20 Brown Back faces. The first is accompanied by variations in border counters and logos, and eventually the use of hidden stars. If you desire a challenge, select a large metropolitan bank and concen- trate on one series issued by it. Starting with plate varieties, add in other fea- tures that interest you such as charter number placements, use or non-use of geographic letters, use or non-use of treasury serials, engraved bank signatures, different bank signatures, or various types of backs, even including different state seals made for some states for the Brown Backs, and you will have a life- time collecting pursuit. ACKNOWLEDGMENT The research leading to this article was partially supported by the National Numismatic Collections, National Museum of American History, Smithsonian Institution, Washington, DC. The assistance of James Hughes, Museum Specialist, is gratefully acknowledged. Doug Walcutt reviewed this article before he died in January 2001, and pointed out the two varieties for the Bureau imprint on 5-5-5-5 plates with the first title layout and the border counter variety on the second 10-10-10-20 plate. MYLAR D® CURRENCY HOLDERS PRICED AS FOLLOWS BANK NOTE AND CHECK HOLDERS SIZE INCHES 50 100 500 1000 Fractional 4 3/4 x 3 3/4 $18.50 $33.50 $150.00 $260.00 Colonial 5 1/2 x 3 1 /16 19.00 35.00 160.00 290.00 Small Currency 6 5/8 x 2 7/s 19.50 37.50 165.00 310.00 Large Currency 7 7/8 x 3 1 /2 22.00 41.00 184.00 340.00 Auction 9 x 3 3/4 24.00 44.00 213.00 375.00 Foreign Currency 8 x 5 27.50 50.00 226.00 400.00 Checks 9 5/a x 4 1 /4 27.50 50.00 226.00 400.00 SHEET HOLDERS SIZE INCHES 10 50 100 250 Obsolete Sheet End Open 8 3/4 x 14 1 /2 $14.00 $61.00 $100.00 $226.00 National Sheet Side Open 8 1/2 x 17 1 /2 15.00 66.00 110.00 248.00 Stock Certificate End Open 9 1/2 x 12 1/2 13.50 59.00 94.00 212.00 Map & Bond Size End Open 18 x 24 54.00 235.00 385.00 870.00 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 Do is a Registered Trademark of the Dupont Corporation. This also applies to uncoated archival quality Mylar® Type D by the Dupont Corp. or the equivalent material by ICI Industries Corp. Melinex Type 516. DENLY'S OF BOSTON P.O. Box 51010, Boston, MA 02205 • 617-482-8477 ORDERS ONLY: 800-HI-DENLY • FAX 617-357-8163 I COLLECT FLORIDA Obsolete Currency National Currency State & Territorial Issues Scrip Bonds Ron Benice 4452 Deer Trail Blvd. Sarasota, FL 34238 941 927 8765 As advertised in Paper Money M/J & J/A issues Don't Miss Out Hurry ' Limited Time opportunity Make Your Mark! PAPER MONEY • November/December 2002 • Whole No. 222 345 Announcing A New Standard Catalog from the author of Civil War Encased Stamps So you're not Friedberg, nor Hessler, nor Kelly, nor Newman, nor Pick, nor Krause, nor Criswell Fred L. Reed III doesn't claim he is either But Fred has penned numismatic classics in the past and Show Me the Money: The Standard Catalog of Motion Picture, TV, Stage & Advertising Prop Money is destined to be another one. This 660- page, ground-breaking catalog of 1,800 never-before-listed notes will to appeal to movie fans, libraries, and paper money collectors alike for years to come. You can bet it will be good! Now YOU, too, can leave YOUR mark on paper money collecting. How? YOU can have YOUR name on this new reference work as its Co-author! Imagine YOUR name on the cover of a paper money classic! This is a limited-time patronage opportunity, so you must act now. For a fee of only $ X5,000, you can secure YOUR numismatic legacy for all time. Write Robert F. Welch, Agent, 2433 NW 48th St., Oklahoma City, OK 73112 AMENNE' Wanted One Volunteer to serve as Ad Manager for Paper Money This is an important, but not time-consuming posi- tion. Successful applicant should be organized, service-oriented, and a strict respecter of deadlines. Computer skills and internet access mandatory. Ad manager will be responsible to send out annual ad renewal billings and follow up with clients. Graphic arts skills helpful, but not mandatory. Good rapport with paper money dealers is VERY helpful. This is NOT a high pressure sales job; however, initiative and good follow through in pre- senting Paper Money's positive sales message to prospective clients is required. Ad Manager will work with the Editor to assure timeliness of ads, payments, and other details as assigned. If you can help your Society and help your Society's Journal continue to meet members' needs, have the time, and the right stuff, contact the Editor now. Table 1. Series of 1882 Brown Back 5-5-5-5 and 10-10-10-20 plate varieties for The National Bank of Commerce in New York, NY (733). Data from Bureau of Engraving and Printing (various dates-a,c). Plate Date Plate Date Plate 5-5-5-5 Letters Approved 1st title layout, stacked signatures, BEP imprint inside upper right border, plate letters inward, bers in lined field: A-B-C-D Jan 8, 1885 1st title layout, stacked signatures, BEP logo in lower border, plate letters inward, ornate solid field: E-F-G-H May 25, 1893 2nd title layout, in-line signatures, BEP logo in lower border, plate letters outward, hollow cha I-J-K-L Aug 26, 1896 M-N-O-P Jan 22, 1900 Q-R-S-T Jan 24, 1899 U-V-W-X May 27, 1901 3rd title layout (same as 2nd 10-10-10-20 layout), in-line signatures, BEP logo in lower border, low charter numbers in solid field: AA-BB-Cc-DD Jul 31, 1902 EE-FF-GG-HH Aug 5, 1902 Jun 27, 1903 Mrvi-NN-Oo-PP Jul 8, 1903 QQ-RR-Ss-TT Sep 16, 1903 Uu-Vv-Ww-Xx Jun 24, 1904 Canceled ornate solid charter num- Nov 19, 1894 charter numbers in lined Jan 25, 1897 rter numbers in solid field: Nov 9, 1901 Feb 26, 190P May 27, 1901 Aug 4, 1902 plate letters outward, hol- Jun 29, 1903 Sep 17, 1903 Jun 25, 1904 Apr 12, 1905a Apr 12, 1905a Apr 12, 1905a 10-10-10-20 1st title layout, BEP imprint inside upper border, 10-TEN-10-733-TEN-10 in upper right border on $10s, ornate solid char- ter numbers in lined field: A-B-C-A Jan 9, 1885 Nov 19, 1894 1st title layout, BEP imprint inside upper border, 10-TEN-733-10-TEN-10 in upper right border on $10s, ornate solid char- ter numbers in lined field: D-E-F-B Aug 12, 1893 Mar 29, 1901 Same as A-B-C-A plate: G-H-I-C Apr 3, 1900 Mar 29, 1901 1st title layout, BEP logo in lower border, ornate solid charter numbers in lined field, hidden stars: J-K-L-D Mar 27, 1901 Aug 4, 1902 2nd title layout (same as 3rd 5-5-5-5 layout), BEP logo in lower border, hollow charter numbers in solid field, hidden stars: M-N-O-E Jul 31, 1902 Apr 12, 1905a P-Q-R-F Aug 5, 1902 Apr 12, 1905a S-T-U-G Jun 4, 1904 Apr 12, 1909 50-100 Title layout similar to 10-10-10-20 A-B-C-A plate, BEP imprint inside upper border, ornate solid charter numbers in lined field: A-A Jan 9, 1885 Apr 12, 1909 a. The date of cancellation was omitted from the ledger; date shown is when the plate was destroyed. The corporate life of the bank was extended on January 14, 1905, hence the plates destroyed on April 12, 1905, were rendered obsolete. 346 November/December 2002 • Whole No. 222 • PAPER MONEY REFERENCES CITED AND SOURCES OF DATA Bureau of Engraving and Printing, various dates-a, Certified Proofs from U. S. National Bank Note Face Plates: National Numismatic Collections, Smithsonian Institution, Washington, DC. Bureau of Engraving and Printing, various dates-b, Correspondence To and From the Bureau of Engraving and Printing: U. S. National Archives, College Park, MD. Bureau of Engraving and Printing, various dates-c, National Bank Note Face Plate History Ledgers: U. S. National Archives, College Park, MD. Comptroller of the Currency, various dates, National Currency and Bond Ledgers for Individual National Banks: U.S. National Archives, College Park, MD. Walcutt, D., "Varieties on National Bank Notes, part 21," The Rag Picker, Paper Money Collectors of Michigan (v. 34, no. 1, 1999), p. 17-39. PAPER MONEY • November/December 2002 • Whole No. 222 347 The Raphael P. Thian Confederate Currency Collection By George B. Tremmel F ARLY IN THE SUMMER OF 1865, 490 BOXES AND BARRELS of recently captured Confederate Government documents were sent , . from Richmond to Washington. At that time, Federal authorities i were trying to determine whether or not former Confederate President Jefferson Davis was part of the Lincoln assassination conspiracy and hoped to discover a paper trail. When they did not, the "Rebel Archives" were dispersed to various locations around the city for storage. Raphael P. Thian The documents pertaining to the Confederate Treasury Department were made available to the Adjutant General's Office and, for the next 40 years, also were available to its Chief Clerk, Raphael P. Thian. A French-born immi- grant Thian served in the pre Civil War U. S. Army rising to the rank of sergeant. In November, 1861 he joined the Adjutant General's Office as a civilian Clerk second class. In 1871 he became its Chief Clerk and spent much of his time during the years from 1867 to 1881 researching the financial history of the Confederacy. After 1881, his official research task ended. He continued his studies during his leisure time for the rest of his life. Driven by his strongly held belief that "the history of the purse is as valu- able as that of the sword," Thian's research focused on two subjects. The first was the official correspondence of the Confederate Treasury Department. To that end Thian transcribed and collated, into four volumes, the incoming and out going Confederate Treasury Department correspondence and reports. These letters contain a wealth of information on the clay to day operation of the Department as it managed (and, as some claim, mismanaged) the Financial affairs of the Confederacy. The second task undertaken by Thian was to assemble and catalog speci- mens of as many of the varieties of Confederate currency as he could discover. 348 November/December 2002 • Whole No. 222 • PAPER MONEY The product of his work can been seen today in the form of five extensive ref- erence albums of Confederate and Southern states currency, bonds and related material. Thian's ready access to the large and varied repository of notes also enabled him to prepare his widely used Register of the Confederate Debt. This originally obscure work became better known after its reprint in 1972. It is now a key tool used by CSA currency collectors to help validate a Confederate note's genuineness by referencing the index of serial number to note signer combinations. While the Confederate Treasury hoard provided Thian with the Confederate currency for the albums he compiled for his research, these notes also were the source material for other albums he prepared. At the request of government agencies and patriotic organizations, Thian prepared a number of albums for presentation to selected recipients, such as visiting dignitaries and retiring Army generals. These presentation albums are now highly prized by collectors whenever they become available. Acquisition by Duke University Located in Durham, North Carolina, Duke University's Perkins Library possesses, among its many holdings, an extensive accumulation of Southern memorabilia - the George Washington Flowers Memorial Collection of Southern Americana. Started in the late 1920s, this collection has grown to include a wide-ranging array of items focused on the recorded history of the South as revealed by manuscripts, letters, books, maps, music, pamphlets, broadsides, newspapers, photographs, engravings and prints. From 1938 to 1948, Duke University history professor Robert H. Woody served as director of the Flowers Collection. In late October 1944, the Duke History Department was contacted by Philip Thian, son of Raphael, who initially offered to sell some of the notes in his father's collection. Apparently at this time, many years after his father's death in 1911, the younger Thian was slowly sorting through his father's pos- sessions. The letter came to Dr. Woody who replied and asked if Philip was related to Raphael Thian. In a second letter dated November 7, 1944, Philip replied that he was and offered to sell one of his father's albums. He described the largest album to Dr. Woody and mentioned his desire that it find a good home: PAPER MONEY • November/December 2002 • Whole No. 222 349 "I am the son of Raphael P. Thian long since deceased, whom you mention in your letter...." "I also have an Album containing samples arranged by series, designs and years of all the notes issued by the Confederate Treasury. This is a very complete, if not the most complete set of Confederate notes in existence, covering the issues from $0.50 to $1,000. This work deserves a place in some such institute as yours." "The amount of work involved in collecting and arranging this very large number of notes, covered his leisure time & holidays, nights & Sundays for over 30 years. A life long hobby of his." (signed) P.E. Thian Over the next six months, as Philip Thian uncovered more and more of his father's currency albums, he continued to offer them to Dr. Woody. By late April 1945, the five albums compiled by Raphael Thian for his personal study, as well as other books and papers, were finally in the possession of the University. Though the Thian Collection lacks specimens of a few of the rarest Confederate notes, notably the early Montgomery and Richmond issues, in terms of the variety and quality of it contents, it is unique. Despite Philip Thian's above claim, however, that the collection included the $1,000 note, it is not there today. The Raphael P. Thian Collection Since Raphael Thian could carefully choose from the entire hoard of cap- tured notes and bonds, the high quality specimens he selected portrayed a wide range of the major and minor note varieties within Confederate note types. The albums present examples of more than 380 individual note signatures, sheets of currency, watermark differences, contemporaneous counterfeits and rare and odd varieties. As for magnitude, a 1998 inventory of the Thian albums, by this author revealed its extensiveness. In aggregate, the five albums contain 3,224 pieces of currency and 458 bonds issued by the Confederacy, Southern states and local governments. Additionally, the albums contain 294 notes issued by private banks, insurance companies and railroads. (The private currency circulated prior to and during the War, along with the paper money issued by national and state governments. These notes usually were accepted, often at a discount, only by people who trusted the reputation of the issuer.) Today, the Confederate cataloging system used by a majority of, but cer- 350 November/December 2002 • Whole No. 222 • PAPER MONEY tainly not all, collectors is the one popularized by the late Grover Criswell. Criswell based his system on the plate varieties described and listed by a noted predecessor, William West Bradbeer, an early twentieth century historian and cataloger. The Bradbeer/Criswell cataloging and numbering system owes much of its organizational and descriptive content to the early efforts of Raphael Thian. The importance of his collection as a research source is signif- icant and is clearly reflected in the details of today's Confederate currency cata- logs and reference books. Now located in the Perkins Library's Special Collections Library, the collection which includes the previously mentioned volumes of Confederate Treasury Department correspondence, rivals the National Archives in the rich- ness of its material on the financial history of the Confederacy. The following briefly summarizes the contents of the five Thian albums: Book 768: Obsolete Bank Notes, Miscellaneous Bank Notes 1838-1864, 200 pages. Contents: 200 notes, most of which are prewar or early war years. Book 769: CSA Note Index (Working Album), Confederate Notes with Descriptions of Emblems 1861-64, 145 pages. Contents: 159 notes; 104 gen- uine, 55 counterfeit. This album contains the extremely rare CT-35 Indian Princess counterfeit. In the back of this album are Thian's tables summarizing quantities, series and dates of the various CSA issues. This information was probably compiled in preparation of the data presented in his Register of the Confederate Debt. Book 770: Confederate Notes & Bonds (Master Album), Notes and Bonds 1861-1865, 646 pages. Contents: 2,889 CSA notes, 88 state and local notes, 6 private issues and 171 bonds, stocks and miscellaneous material. This huge album has sections entitled: General Issues Bonds, Stocks and Checks Oddities Miscellaneous Counterfeits State Notes and Bonds Reissued Notes Autographs of Note Signers Note Sheets Book 771: CSA Treasury Bonds 1861-1864, 216 pages. Contents: 287 Confederate and Southern State bonds, stock certificates and checks. Unnumbered Portfolio: CSA Note Signers, Male and Female Signatures, 23 pages. Contents: 176 notes that present autograph specimens of the treasury note signers. Acknowledgement The author is grateful to the staff of Duke University's Perkins Library - Special Collections Library for their assistance and patience. Special thanks go to Dr. Linda Mc Curdy, Director of Research Services and William R. Erwin, Jr., Senior Reference Librarian, now retired. Sources Ball, Douglas B. Forward to reprint of Register of Confederate Debt by Raphael P. Thian. Boston: Quarterman Publications (1972). Bradbeer, William West. Confederate and Southern State Currency. Chicago: reprint of 1915 publication by R. Green (1945). Chase, Philip H. Confederate Treasury Notes. Philadelphia: Published by the Author (1947). Criswell, Grover C. Comprehensive Catalog of Confederate Paper Money. Port Clinton, OH: BNR Press (1996). Thian, Philip E. Correspondence between Philip E. Thian and Dr. Robert H. Woody, Perkins Library, Duke University, Durham, NC (October 24, 1944 - April 26, 1945). Tremmel, George B. It, Too, Passed -- The Counterfeit Currency of the Confederate States. Raleigh, NC: McFarland Publishing Co. (2002). PAPER MONEY • November/December 2002 • Whole No. 222 11..'4.11■1•2. IZMINAN 14 10'1'V 121:i 1176ZIE LIMO 1 oet 1 351 Who Am I? Can You Help Identify Any of These Baffling Currency Portraits? By Fred Reed M ANY, MANY YEARS AGO, MORE than a quarter century ago now, I con- ducted a research project for one of the annual editions of the Coin World Almanac. The book was envisioned by then Coin World Editor Margo Russell as drawing together a really handy compendium of useful numismatic information that would be difficult to access otherwise. The staff divided up new or recurrent projects needing updating accord- ing to their interests, ability, and time available, and the results interspersed with U.S. Treasury data, "Trends" pricing, and historical information was really outstand- ing in many areas. I worked on several of these long term projects, including chronologizing the two-year spate of BEP currency printing errors, which also appeared in a book I co-authored with my colleague Tom DeLorey. I also worked on cataloging U.S. Mint Assay Commission medals, which ran serially in Coin World and then in the items ever appeared in print. Another of my objectives was to identify as many individuals depicted on obsolete currency as possible in order to provide a comprehen- sive update for the following year's edition of the small list already in the almanac. I spent considerable time in the "usual places," examining dealer note stocks, counterfeit detectors, numismatic literature and other sources. I know I had a lot of help from a number of dealers and collectors, as well as other Coin World staffers, too. In sum, we did a really good job, came up with a heck of a list sorted by the individual, and somewhat "freaked out" manage- ment when they realized they would have to add many more pages to the almanac than they had planned for in order to accommodate this listing. So naturally, the expedient solution prevailed . . . the old list was run Above and below: Recent currency portraits on motion picture prop money. No. 4 is a more or less faithful copy of the Franklin portrait on current Federal Reserve Notes. Presumably Nos. 1, 2, Or are Nos. 2 & 3 somebody else?almanac. In fact that is how the first catalog of these 3 and 5 are also. But are they? . _....... --- ' . „ • . . 'ii..,_ , :''...1, if°111*'' .iiii • ',..,.: .4.. A . . ..." 2 .. _ --- - 3 '- _ ....IF- 4 ' • - -- - - , _-,. ---.E'zrtgvw-- 6 - Francisco Madero 7 - Pino Suarez 8 - Is this also Francisco Madero? 9 - This man has been identified as Pablo Gonzalez and also as Napoleon III. Is he either or someone else? 352 November/December 2002 • Whole No. 222 • PAPER MONEY once again, and this really neat catalog of individuals appearing on U.S. obso- lete currency was shelved. It was never published in the almanac or separately. Doubtless, the pub- lisher's decision was the right one. After Morn purchased a couple copies of the book, where would he have gotten rid of the rest of the print run? Oh well, I retained a copy. It's somewhere I suppose, but to the best of my memo- ry George Washington rocked -- finishing ahead of the pack by 50 lengths down the stretch; several of the other Founding Fathers and/or Presidents placed well; Congressional dudes like John C. Calhoun, Daniel Webster, and Henry Clay trailed the pack, and my "horse" Abraham Lincoln fared badly, many, many lengths to the rear because he waited too darn long into the obso- lete note issuing period to enjoy popularity. Many years later, however, I did manage to put together a bang up Memphis International Paper Money Show exhibit of the non-Federal uses of old Abe on U.S. currency, and several arti- cles on the subject also appeared in Coin World, taking Numismatic Literary Guild laurels for best currency articles that year. OK, so now I've established my limited credentials on the subject of cur- rency portraiture (after all I'm not John Muscalus nor Gene Hessler in such matters), and now I need some help from Paper Money readers. I've got a 700+ page book on theatrical prop currency: Show Me the Money! The Standard "It's clear that many of these portraits are caricatures, so help us solve the joke." Catalog of Motion Picture, TV, Stage & Advertising Prop Money coming out soon. Such currency lookalikes have substituted for real filthy lucre in theatrical pro- ductions since before the days of vaudeville and the silent cinema. I've adver- tised in our "Research Exchange" and elsewhere for help for some time, but still my associates and I have been surprised to discover just how vigorous and diverse this series of paper money is. We've come up with 1,800 different vari- eties of these notes! It's always exciting to stop a video and identify the exact type of prop notes being used on screen in famous films like The Maltese Falcon, starring Humphrey Bogart as private detective Sam Spade, Rhythm on the Range with Bing Crosby and Frances Farmer, To Have and Have Not with Bogie as fishing boat captain Harry Morgan, Stella Dallas with Barbara Stanwyck, the Spencer Tracy-Katharine Hepburn wartime romance Without Love, the great Edward G. Robinson-Bogart-Bacall noir drama Key Largo, Champion with Kirk Douglas, Strangers on a Train with Farley Granger, From Here to Eternity with Burt Lancaster, Montgomery Clift and Frank Sinatra, A Streetcar Named Desire with Marlon Brando as Stanley Kowalski and Vivien Leigh as Blanche DuBois, or the many Bowery Boys (West Side Kids) comedies. In fact all those films mentioned, from the 1930s forward, employed the same kind of prop currency, an imitation of Mexican Revolutionary bancos depicting El Estado de Sonora issues. These prop notes were printed in denominations of one-peso through 1000 pesos, although the highest original note was only 100 pesos. These ubiquitous Sonoran notes were known by the name "Dos Caritas" because they featured twin small portraits on their faces of Francisco Madero and Jose Maria Pino Suarez (shown at left), "who for about 20 minutes were President and Vice President of Mexico," according to an ear- lier writer on this series, Philip Reisman. The Sonoran notes had green backs like Uncle Sam's real dough and made a splendid display in poker games and 12 - Thomas Hart Benton ? 1 3 - James B. McPherson ? 16 17 10 11 - George H. Thomas ? 14 15 - James Monroe ? PAPER MONEY • November/December 2002 • Whole No. 222 353 18 - Edward Everett ? 19 - Martha Washington ? 20 - Wm. L. Marcy ? 21 stage robberies. Because of their dual engravings, such notes are easy to spot in westerns. But also because of this dis- tinctiveness, Hollywood production departments even- tually turned to more realistic looking notes with a sin- gle portrait on face like genuine U.S. currency. Nevertheless "Dos Caritas" were still in use in the 1960s when Rod Steiger paid out this species of prop notes for loans at Nazerman's in The Pawnbroker. And they were still being thrown up there on the silver screen when Peter Fonda and Dennis Hopper created the counter- culture classic of the Vietnam Era, Easy Rider. Fonda hid a passel of "Dos Caritas" $50s in a plastic tube inserted into his motorcycle's gas tank as spending money for their trip across the great Southwest to the Mardi Gras in New Orleans. Film fads fade, but piles of crisp lucre transcend the generations. A quick check of films in recent release revealed that money plays a significant part in the plot of nearly two-thirds of them, including: Dead Presidents, Heat, Excess Baggage, Run for the Money, It Could Happen to You, A Peifect Murder, Rat Race, The Wash, Training Day, Bandits, Ocean's Eleven, 3000 Miles to Graceland, American Strays, Birthday Girl, Big Trouble, National Lampoon's Van Wilder, Wannabees, Crossroads, Federal Protection, Trapped, The Bourne Identity, All About the Benjamins, The Truth About Charlie, and Serving Sara. Each involved large wads of money and characters eager to get their hands on it. These newer prop notes have proven very diverse and colorful, as Hollywood creativity cranks up to meet the currency needs of more and more films. In fact, at 22 - Woodrow Wilson ? 23 - Woodrow Wilson ? L 4.1. Z.) - King George V ? fit ,- \ i ' •'7, , = 40r.‘ ,:- %ti; - „,,,- ..„,,,. 41 i,., *? - , ,01 ••• ; ''''. N ' .100.94) .r, , 1 , I , • •4 ,.. , Ize;2.2-- .., .--14,grmrqr-sfkr,,, I i'Vtg=211•1"-jr .-...,,,-:,,,d-,...-,..- •-• ,11 November/December 2002 • Whole No. 222 • PAPER MONEY354 26 - Alexander Hamilton ? 27 28 29 30 31 32 33 the recent Memphis International Paper Money Show, I put together a six case exhibit of interesting prop notes based on my Show Me the Money! manuscript illustrating bills used in such films as Rush Hour 2, Proof of Life, Training Day, All About the Benjamins, How the Grinch Stole Christmas, Beverly Hills Cop 3, Alien: Resurrection, Back to the Future 2, Total Recall, The X-Files, A Simple Plan, Octopussy, 3000 Miles to Graceland, Coming to America, Absolute Power, Batman Forever, Robocop 3, Blade Runner, License to Kill, Lethal Weapon 4, Raiders of the Lost Ark, and Oliver Stone's JFK. I also displayed checks from such classics as Indecent Proposal, A Time to Kill, Delta House, The Untouchables, and items from Broadway productions including Evita and Les Miserables. It was a fun exhibit to put together, and must have been enjoy- able to viewers too as Bank Note Reporter and Krause Publications gave it their "Most Inspirational Award” as the exhibit most likely to mm non-collectors into paper money hobbyists. But now as publishing deadline for the prop money catalog looms, I've reached the end of my rope. There are about four dozen individuals depicted on var- ious prop notes that I (1) either can't identify; or (2) am unsure of their identities. It's clear that many of these portraits are charicatures, so help us solve the joke. Notes: Many prop notes are "cut and paste" composites of real notes, so some of these portraits may have been borrowed from real currency; also, the names under the portraits on most prop money are non-sensical. A number of these mysterious currency portraits are shown accompanying this article. On some, I've supplied my best guess followed by a question mark. (left to right) Josh Caswell, Jim Reardon, Butch Caswell and Ken Westover Littleton' experienced team of buyers. PAPER MONEY • November/December 2002 • Whole No. 222 355 Last Year Alone... Littleton Spent More Than $14 Million on U.S. Coins & Paper Money! We can afford to pay highly competitive buy prices because we retail all the notes we buy. David Sundman, President ANA Life Member #4463; PNG #510; Society of Paper Money Collectors LM#163; Member, Professional Currency Dealers Association Over 150,000+ Littleton Customers Want Your Notes! Wide Range of U.S. Notes Wanted! • Single notes to entire collections • Early large-size notes to high denomination small-size notes • All types including Legal Tender Notes, Silver & Gold Certificates and more • Very Good to Gem Why You Should Consider Selling to Littleton • We buy for our retail customers — so we can pay more • Fair appraisals and offers • Fast confirmation and settlement • We pay finder's fees and make joint arrangements • Over 56 years experience buying and selling coins and paper money Contact us: Buyer Phone: (603) 444-1020 Toll Free: (800) 581-2646 Fax: (603) 444-3501 or Toll-Free Fax: (877) 850-3540 Facts D97 CoinNet NHO7 Dun & Bradstreet #01-892-9653 r* ES! I'm interested in • collection or hold Fill out this coupon and Fax Toll Free to (877) 850-3540, or Mail to: Littleton Coin Company Dept. BYA302 1309 Mt. Eustis Road Littleton, N.H. 03561-3735 L selling paper money to Littleton. Please contact me regarding my ings. Name Address City/State/Zip Daytime Phone Best time to call 356 34 35 - Columbus ? 38 39 - Robert E. Lee ? November/December 2002 • Whole No. 222 • PAPER MONEY 36 37 40 41 42 43 44 - Samuel F.B. Morse ? 45 Many were apparently "borrowed" from U.S. currency, butr somewhat disguised. Are numbers 20 and 21 the same guy? Is #19 the first First Lady? Is #28 identified below the portrait as GRAPE a young Robert E. Lee? Are either/or both #22 and #23 Woodrow Wilson. What about You foreign currency collectors should be able to help me out with #9 (is it Napoleon III or General Pablo Gonzalez, or someone else?), #25 (is it King George V?) and numbers 35 (Columbus?) or #48 (?). Number 33 looks something like Karl Marx; who is it? What about #29? You get the picture. I've stared at these dudes for so long that they all look familiar to me now, but with indifferent luck actually figuring out who's who. If you know who any of these guys and gals are, please take time to help an author to make his book as complete and accurate as possible. All the prop note portraits are numbered. If you can ID any of them, or disagree with my speculation and have a different one of your own, or can answer a question I've raised about a portrait, .please send that information to me at P.O. Box 118162, Carrollton, TX 75011-8162 or e-mail it to me at All contributors will be acknowledged in the book, and I'll give you all my "thanks" for your help right now. In the meantime, check out the next film you see at a cinemaplex or on your home VCR. Chances are good that money will be a key ingredient to the movie's plot, and the characters' feelings about and actions moti- vated by that lucre will reveal their characters and help determine their fates. Movie money is as much a staple of the Silver Screen as real dough is to everyday life. As Gene Siskel used to say: "See you at the movies." 575654 55 PAPER MONEY • November/December 2002 • Whole No. 222 357 46 47 - Phil Sheridan ? 48 49 50 - Andrew Jackson ? 51 52 53 358 November/December 2002 • Whole No. 222 • PAPER MONEY An Index to Paper Money Volume 41, 2002 / Numbers 217-222 Compiled by George B. Tremmel Vol. ADVERTISING CURRENCY. No. Pg. Yr. Gelwicks. David H. Vol. No. Pg. Yr. An Ag Department Ad Note, Forrest W. Daniel, illus. 02 41 220 250 Byways of Scripophily, illus. 02 41 217 28 Wooden Certificate Marks GWITIV Premiere, Frank Clark, illus. 02 41 219 170 Giedroyc, Richard. Allen, Harold Don. Fall of Soviet Empire Creates Opportunity for Collectors, illus. 02 41 221 324 Canadians Extend New Series & Tradition of Bank Note Excellence, illus. 02 41 222 380 Gil del Real, Joaquin. Ball, Douglas B., Dr. A Review of Treasury Bills of Panama, illus.. 02 41 221 268 Some Byways in Confederate Currency, illus. 02 41 219 198 Bank of Panama: A Review of Panama's Third Bank, illus. 02 41 220 232 BANKS, BANKERS AND BANKING. Panama's Arias or Seven Day Notes, illus. 02 41 221 304 Eliza D. Page National Bank President, Karl S Kahelac, illus. 02 41 218 70 Grant, David, Impact of Nebraska's Bank Deposit Guaranty Law of 1909-30, 02 41 218 75 My 'Hometown Bank': FNB of Manchester, MO, illus. 02 41 218 112 Gerome Walton, illus. Hessler, Gene. Meet the Hillegas Family, Mark Rabinowitz, illus. 02 41 217 3 Gypsy Women, illus. 02 41 221 298 Misplaced Bank Plate Numbers, Michael V. Stratton, illus. 02 41 220 240 Jindra Schmidt Czechoslovak Artist & Engraver, illus. 02 41 221 318 My 'Hometown Bank': FNB of Manchester, MO, David Grant, illus. 02 41 218 112 One Image, Three Representations, illus. 02 41 219 184 Once There Were Two, But Then There Were None, Tom Minerly, illus 02 41 220 220 The Buck Starts Here: Spelling Isn't My Long Suit Either, Peter Huntoon, illus. 02 41 220 241 Bank Note Artists Depict Master Engraver DiSrer, illus. 02 41 220 228 The Bank of Whitfield, Dalton, Georgia, Steve Whitfield, illus. 02 41 220 236 Hollander, David B., Coordinator. The Two-Fold Demise of the FNB of Troy, NY, Tom Minerly, illus. 02 41 218 93 1929 Nationals Project Report, illus. 02 41 218 63 Then and Now: the State Bank of Camden, NJ, Wendell Wolka. illus. 02 41 217 24 Hughes, Brent. William Wallace Crapo, Bob Cochran, illus. 02 41 218 109 The Night We Found the Treasure, illus. 02 41 219 156 Wilmington's Bank of Cape Fear, Robert S. Neale, illus. 02 41 220 211 Huntoon, Peter. Your Eyes Aren't Deceiving You, Peter Huntoon, illus. 02 41 220 242 Correcting the National Bank Data Base, illus. 02 41 218 124 Benice, Ronald J. The Paper Column: Florida Civil War Currency, illus. 02 41 219 131 Brown Back Varieties, NB of Commerce in New York, illus. 02 41 222 339 Clark, Frank. Counterfeits & Cancelled Subjects, illus. 02 41 217 36 About Texas Mostly: Discovering El Banco del Estado de Chihuahua, illus. 02 41 221 290 FNB of Lewisville Texas Bank Robbery, illus. 02 41 220 230 Spelling Isn't My Long Suit Either, illus. 02 41 220 241 The Last Shipment of National Bank Notes, illus. 02 41 220 230 The Mystery of Plate Dates & Treasury Signatures on NBN's, illus. 02 41 218 51 Wooden Certificate Marks GWTIV Premiere, illus. 02 41 219 170 Your Eyes Aren't Deceiving You, illus. 02 41 220 242 FNB of Greenville, MS Becomes Court House, illus. 02 41 217 42 Ingram, Dr. Yowan. (Letter to the Editor) President's Colunm 02 41 217 20 Cornish Separatists Circulate World Cup Note, illus. 02 41 221 313 02 41 218 96 INTERNATIONAL. 02 41 219 186 A Review of Treasury Bills of Panama, Joaquin Gil del Real, illus.. 02 41 221 268 02 41 220 244 Armenian Commemorative Bank Note Marks 1700th Anniversary, 02 41 221 297 02 41 221 314 Bagrat Sahakyan, illus. 02 41 222 376 Bank of Panama: A Review of Panama's Third Bank, 02 41 220 232 Republic National Bank and Trust Company of Dallas, Texas, illus. 02 41 218 98 Joaquin Gil del Real, illus. Cochran, Bob. Bank Happenings: Canadians Extend New Series & Tradition of Bank Note Excellence, Harold Don Allen, illus. 02 41 222 380 William Wallace Crapo, illus. 02 41 218 109 Discovering El Banco del Estado de Chihuahua, Peter Huntoon, illus. 02 41 221 290 Missouri's Confederate Government "Rises Again", illus. 02 CONFEDERATE AND SOUTHERN STATES CURRENCY. 41 219 172 Fall of Soviet Empire Creates Opportunity for Collectors, Richard Giedroyc, illus. 02 41 221 324 Did You Know The U.S. Treasury Gave Money Away?, Fred Reed, illus. 02 41 219 190 Father George Antoine Belcourt & the Farmers Bank, P.E.I., 02 41 221 259 Florida Civil War Currency, Ronald J. Benice, illus. 02 41 219 131 Forrest W. Daniel, illus. Missouri's Confederate Government "Rises Again", Bob Cochran, illus. 02 41 219 172 Gypsy Women, Gene Hessler, illus. 02 41 221 298 Some Byways in Confederate Currency, Dr. Douglas B. Ball, illus. 02 41 219 198 Jindra Schmidt Czechoslovak Artist & Engraver, Gene Hessler, illus. 02 41 221 318 The Night We Found the Treasure, Brent Hughes, illus. 02 41 219 156 Letter to the Editor: Cornish Separatists Circulate World Cup Note, 02 41 221 313 The Raphael P. Thian Confederate Currency Collection, 02 41 222 347 Dr. Yowan Ingram. illus. George B. Tremmel, illus. Panama's Arias or Seven Day Notes, Joaquin Gil del Real, illus. 02 41 221 304 The Rare Photographic Confederate Counterfeits, 02 41 219 179 Retorts of the Short Snorter, Michael E. Marotta, illus. 02 41 221 316 George B. Tremmel, illus. Scrip Recalls 'Maryland in Liberia' Movement, Jim L. Watson, illus. 02 41 221 286 COUNTERFEIT, ALTERED & SPURIOUS NOTES. The Farmers Bank Notes, Forrest W Daniel, illus. 02 41 221 266 Counterfeits & Cancelled Subjects, Peter Huntoon, illus. 02 41 217 36 The Many Incarnations of Paul Thumann's 'The Fates', 02 41 221 274 The Rare Photographic Confederate Counterfeits, 02 41 219 179 Mark D. Tomasko, illus. George B. Tremmel, illus. Kabelac, Karl S. Daniel, Forrest W. Eliza D. Page National Bank President, illus. 02 41 218 70 An Ag Department Ad Note, illus. 02 41 220 250 Kelly, Don C. Father George Antoine Belcourt & the Farmers Bank, P.E.I., illus. 02 41 221 259 The John Hickman Project, illus. 02 41 218 73 The Farmers Bank Notes, illus. 02 41 221 266 Marotta, Michael E. ENGRAVERS & ENGRAVING AND PRINTING. Return of the Short Snorter, illus. 02 41 221 316 Bank Note Artists Depict Master Engraver DUrer, Gene Hessler, illus. 02 41 220 228 Minerley, Tom. Gypsy Women, Gene Hessler, illus. 02 4I 221 298 Once There Were Two, But Then There Were None, illus. 02 41 220 220 Jindra Schmidt Czechoslovak Artist & Engraver, Gene Hessler, illus. 02 41 221 318 The Two-Fold Demise of the FNB of Troy, NY, illus. 02 41 218 93 One Image, Three Representations, Gene Hessler, illus. 02 41 219 184 Neale, Robert S. The Many Incarnations of Paid Thumann's 'The Fates', 02 41 221 274 Wilmington's Bank of Cape Fear, illus. 02 41 220 211 Mark D. Tomasko, illus. NEW LITERATURE. Fisher, Kim. New Gordon Harris Work Details New York State Scrip, Freed Reed 02 41 220 248 I Found My Thrill on a Two Barre Bill, illus. 02 41 218 106 OBSOLETE NOTES & SCRIP. Gavel, John. Scrip Recalls 'Maryland in Liberia' Movement, Jim L. Watson, illus. 02 41 221 286 Reflections on Reading Paper Money, illus. 02 41 220 249 Two Varieties of Strawberry Grounds Scrip, Bob Schreiner, illus. 02 41 220 252 Alabama Large Size avacar-24.-0-EckA Top Prices Paid David Hollander 406 Viduta Place Huntsville, AL 35801-1059 r, PN`,111074-tE MAUL Or G579 :r213:02711:; - N. I )41 )3.I.. 1 t 14, 1001 417.107/7; 40111.0111311021111i •XICF-se Tv v. "•• Nobody pays more than Huntoon for ARIZONA & WYOMING state and territorial Nationals Peter Huntoon P.O. Box 60850 Boulder City, NV 89006 702-294-4143 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 4543 Greensboro, NC 27404 Telephone: (336) 299-7061 E-mail: PAPER MONEY • November/December 2002 • Whole No. 222 359 360 November/December 2002 • Whole No. 222 • PAPER MONEY Vol. No. Pg. Yr, Is Wilson Scrip Remnant of a Civil War Ponzi Scheme?. Libero Zampieri, illus. 02 41 222 362 Rabinowitz, Mark. Meet the Hillegas Family, illus. 02 41 217 3 Reed, Fred. A Bit More on Short Snorters, illus. 02 41 217 43 Collecting Community Remembers Brent Hughes 02 41 219 168 Did You Know The U.S. Treasury Gave Money Away?, illus. 02 41 219 190 Editor's Notebook 02 41 217 46 02 41 218 126 02 41 219 206 02 41 220 254 0? 41 221 334 02 41 222 383 In Memoriam: 'Mr. Confederate,' Brent Hughes' Writings Span Decades 02 41 219 159 'Mr. Confederate,' Brent Hughes' Writings Span Decades, illus. 02 41 219 159 New Gordon Harris Work Details Nov York State Scrip 02 41 220 248 Part 3: A Catalog of SPMC Memorabilia, illus.. 02 41 217 22 IVIto Am I? Can You Help Identify These Currency Portraits?, illus. 02 41 222 351 Sahakyan, Bagrat. Armenian Commemorative Bank Note Marks 1700th Anniversary, illus. 0? 41 221 297 Schlingman, Dave. A SIO Blue Seal North Africa SC, illus. 02 41 220 248 Schreiner, Bob. Librarian's Report 02 41 222 382 TWO Varieties of Strawberry Grounds Scrip, illus. 02 41 220 252 SHORT SNORTERS. A Bit More on Short Snorters, Fred Reed, illus. 02 41 217 43 Return of the Short Snorter, .1 lichael E. Marotta, illus. 02 41 221 316 SOCIETY OF PAPER MONEY COLLECTORS. 3rd Annual George W. Wait Alemorial Prize Official Announcement 02 41 222 364 Advertisers Index 02 41 217 47 02 41 218 127 02 41 219 207 02 41 221 335 02 41 222 383 ANA, NLG Honor SPMC & Paper Money, illus. 02 41 218 105 C. John Ferreri Steps Down from Board 02 41 218 96 Comprehensive Paper Money Index Available 02 41 219 186 Comprehensive Paper Money Index for Sale 02 41 218 96 Deadline Nears for George IV. Wait Memorial Prize 02 41 218 69 Editor's Notebook 02 41 217 46 02 41 218 126 02 41 219 206 02 41 220 254 02 41 221 334 02 41 222 383 George Wait Award Recognizes Forrest Daniel 02 41 219 194 Hessler to Sign Special Edition at Memphis Paper Show 02 41 219 182 Important Announcement: Special Advertising Deadlines 02 41 217 11 Information & Officers 02 41 217 2 02 41 218 50 02 41 219 130 02 41 220 210 02 41 221 258 02 41 222 338 Krause, Alishler to Speak at SPA IC Membership Meeting, illus. 02 41 219 196 Letter to the Editor 02 41 219 204 Librarian's Report 02 41 222 382 Meet the Candidates for the SPMC Board of Governors, illus. 02 41 218 110 Money Mart 02 41 217 44 02 41 218 1 1 1 02 41 219 186 0? 41 220 244 02 41 221 314 0? 41 222 376 New Nlembers 0? 41 217 46 0? 41 218 125 02 41 219 194 02 41 220 246 0? 41 222 378 Part 3: A Catalog of SPMC Memorabilia, Fred Reed, illus.. 0? 41 217 2? Paper Money Takes Top ANA & NLG Laurels in NYC, illus. 02 41 222 368 President's Column 02 41 217 20 0? 41 218 96 02 41 219 186 02 41 220 244 02 41 221 314 02 41 222 376 Reflections on Reading Paper Monet', John Gavel, illus. 02 41 220 249 Vol. No. Pg. Yr. Research Exchange 02 41 217 44 02 41 219 206 02 41 220 254 0? 41 221 334 02 41 222 38? SPMC Annual Awards 02 41 218 96 SPMC Annual Board Meeting Minutes, illus. 02 41 a" 370 SPMC Board Honors Newman, Lloyd, Horstman 02 41 217 21 SPMC Board Meeting, St. Louis, MO 02 41 219 188 SPMC General Membership Meeting, St. Louis, MO 02 41. 219 189 Wanted: Articles of Distinction 02 41 219 166 Wanted: One Volunteer to Serve as Ad Manager for PM 02 41 220 243 Wanted: One Volunteer to Serve as Ad tanager for P.11 41 221 299 Wanted: One Volunteer to Serve as Ad Manager for PM 02 222 345 Wismer State Catalogs, General Guidelines for Authors, Steve Whitfield 02 41 222 366 Stratton, Michael V. Misplaced Bank Plate Numbers, illus. 02 41 220 240 Tomasko, Mark D. The Many Incarnations of Paul Thumann's 'The Fates', illus. 02 41 221 274 Tremmel, George B. An Index to Paper Money, Vol. 41, 2002 Nos. 217-222 02 41 222 358 The Raphael P. Thian Confederate Currency Collection, illus. 02 41 222 347 The Rare Photographic Confederate Counterfeits, illus. 02 41 219 179 U.S. NATIONAL BANK NOTES. 1929 Nationals Project Report, David B. Hollander, illus. 0? 41 218 63 Brown Back Varieties, NB of Commerce in New York, 02 41 222 339 Peter Huntoon, illus. Correcting the National Bank Data Base, Peter Huntoon, illus. 02 41 218 124 FNB of Greenville, MS Becomes Court House, Frank Clark, illus. 02 41 217 42 FNB of Lewisville Texas Bank Robbery, Frank Clark, illus. 02 41 220 230 I Found My Thrill on a Two Barre Bill, Kim Fisher, illus. 02 41 218 106 Republic National Bank and Trust Company of Dallas, Texas, Frank Clark, illus. 02 98 41 218 The John Hickman Project, Don C. Kelly, illus. 02 41 218 73 The Last Shipment of National Bank Notes, Frank Clark, illus. 02 41 220 230 The Mystery of Plate Dates & Treasury Signatures on NBN's, Peter Huntoon, illus. 02 51 41 218 The Two-Fold Demise of the FNB of Troy, NY, Tom Minerly, illus. 0? 41 218 93 U.S. SMALL SIZE NOTES. SILVER CERTIFICATES. ASIO Blue Seal North Africa SC, Dave Schlingman, illus. 02 41 220 248 Walton, Gerome. Impact of Nebraska's Bank Deposit Guaranty Law of 1909-30, illus. 0? 41 218 75 Watson, Jim L. Scrip Recalls 'Maryland in Liberia' Movement, illus. 02 41 221 286 Whitfield, Steve, Wismer Project Coordinator. The Bank of Whitfield, Dalton, Georgia, illus. 02 41 220 236 Wismer State Catalogs, General Guidelines for Authors 02 4l 222 366 Wolka, Wendell. Then and NOW: the State Bank of Camden, NJ, illus. 02 41 217 24 Zampieri, Libero Is Wilson Scrip Remnant of a Civil War Ponzi Scheme' illus 02 41 222 362 r Comprehensive Paper Money Index 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 • • Hard Copy & Floppy Disk only $13 • (searchable) Make checks payable to SPMC Mail to: Robert Schreiner POB 2331 Chapel Hill, NC 27515 -2331 PAPER MONEY • November/December 2002 • Whole No. 222 361 EARLY AMERICAN NUMISMATICS P.O. Box 2442 • La Jolla, CA 92038 • (858) 459-4159 • Fax (858) 459-4373 • UNITED STATES COINS AND CURRENCY • INDIAN PEACE MEDALS • COLONIAL CURRENCY • OBSOLETE CURRENCY • ENCASED POSTAGE STAMPS • FRACTIONAL CURRENCY • REVOLUTIONARY WAR • CIVIL WAR & GREAT AMERICANA Subscribe to Receive our Beautiful, Fully Illustrated Catalogs Only $72 for a Full Year's Subscription of Six Bimonthly Issues Visit Our Website: r . , . •., — f-Lttit7'. . '''. . . ,; • e ) Your Hometown Currency Headquarters $$ Top prices paid for ALL National Bank Notes $$ We have thousands of Nationals for sale Visit us at our website or e-mail us at Call 1-800-327-5010 for a Free Catalog or write 49-4a 4426S. • William Youngerman, Inc. Rare Coins & Currency "Since 1967" P.O. Box 177, Boca Raton, FL 33429-0177 Member: PNG, PCDA, ANA, SPMC and others L WIIISON SURIF• . ,,• •, WHEREAS, it is believed that the-representatives of the "WILSON FAMILY," in Au rise, are en. itled to an immense Estate in England, called the "WILSON ESTATE." AND WHEREAS, said representatives are desirous of recovering possession thereof; and in order to ac- complish the same, are obliged to raise money, hy issuing Scrip, which are to be the first lien on said estate. ; ;,. Now, THEREFORE, for and in consideration et FIVE DOLLARS to me, agent for the "Wilson' Assomar-' S: , tjr.- -,I Iltion," in hand paid, I hereby agree, as Agent aforesaid, to pay ' ;c4..." _7'7 or bearer, Ono Hundred Dollars out of the first moneys received from said Estate, by the members of this Association, or any of them; and I further agree? expend said moneys received for said Scrip, for re- ; covery of said Estate. r Ad 1 e-e-) Agent, Ar tha {WA. A.oeiat Monkton, Vt., 1865. $5.00, 362 November/December 2002 • Whole No. 222 • PAPER MONEY Is Wilson Scrip Remnant of A Civil War Ponzi Scheme*? By Libero Zampieri D URING THE CIVIL WAR ERA JOSEPH Burkey, likely of my home state of Vermont, spent $10 to purchase two pieces of scrip which came into my collection years ago. Apparently both items were part of Ponzi schemes, but I wonder if other SPMC members have ever run into anything like them. The one shown is a $5.00 "Wilson Scrip" note that Burkey pur- chased on New Year's Eve 1865. At face value the note promises that Burkey or bearer would receive $100 should the Wilsons come into their hered- itary inheritance of $3 million- plus in England. Since Wilson didn't cash in this scrip, we might surmise that the Wilson cause was a lost one. On its face the Wilson Scrip reads: No. 278 WILSON SCRIP $5.00 WHEREAS, it is believed that the representatives of the Wilson Family, in America, are entitled to an immense Estate in England, called the Wilson Estate. AND WHEREAS, said representatives are desirous of recover- ing possession thereof and in order to accomplish the same, are oblig- ed to raise money, by iSSiling Scrip, which are to be the first lien on said estate. NOW THEREFORE, for and in consideration of FIVE DOLLARS to me, agent for the Wilson Association, in hand paid, I hereby agree, as Agent aforesaid, to pay Joseph Burke)' or bearer, One Hundred Dollars out of the first moneys received from said Estate, by the members of this Association, or any of them; and I fur- ther agree to expend said moneys received for said Scrip, for recovery of said Estate. (signed) H. 0. Smith (igned) P. M. Wallace Agents for the Wilson Association Monkton, Vt., Dec. 31, 1865 The scrip is self-explanatory. After reading it, it sounds like a Ponzi deal to me, but I still think it is an interesting paper item. I also have another similar piece, called "Holt Scrip" from Brandon, VT, that Burkey purchased sever- al years before he purchased the "Wilson Scrip." Burkey purchased the "Holt Scrip" in August, 1863. It also bears a $5.00 value, but the Holts' claim was for a * So-named after Charles Ponzi, "The Pied Piper of Boston," who swindled thousands out of millions, according to a biographer. Although this scheme pre-dates Ponzi, how "agents" for the Wilson Family convinced a circumspect New Englander to part with his $5 is intriguing. Do any Paper Money readers have additional info? $40,000,000 inheritance. Forty million bucks was a lot of money in 1863. Think about it, the United States purchased all of Alaska in 1867 for only $7.2 million. The "Holt Scrip" is signed by different "agents." If any SPMC members have other similar scrip notes or know anything about these two pieces, I'd like to hear about it. Editor's Note: Unfortunately longtime SPMC member Libero Zampieri of Barre, VT, is no longer with us. However, the points he raises in this previously unpublished article, written in 1988, are still worth pursuing. If anyone comes forth with additional information on "Wilson Scrip," "Holt Scrip" or similar items, we will be happy to publish an update in a future issue of Paper Money. New Hampshire Bank Notes Wanted Also Ephemera I am continuing a long-time study on currency issued by banks in New Hampshire, including state-chartered banks 1792-1865, and National Banks circa 1863-1935. Also I am studying colonial and provincial notes. I would like to purchase just about anything in colonial and provin- cial notes, nearly everything in state-chartered notes, and items that are scarce or rare among National Bank notes. I am not seeking bar- gains, but I am willing to pay the going price. I will give an immedi- ate decision on all items sent, and instant payment for all items pur- chased. Beyond that, I am very interested in ephemera including original stock certificates for such banks, correspondence mentioning cur- rency, bank ledgers, and more. With co-author David M. Sundman and in cooperation with a special scrip note project by Kevin Lafond, I am anticipating the production of a book-length study of the subject, containing basic information about currency, many illustrations including people, buildings, and other items beyond the notes themselves, and much other informa- tion which I hope will appeal to anyone interested in historical details. All of this, of course, is very fascinating to me! Dave Bowers Box 1224 Wolfeboro, NH 03894 Telephone (603) 569-5095 Fax (603) 569-5319 E-mail: PAPER MONEY • November/December 2002 • Whole No. 222 363 364 November/December 2002 • Whole No. 222 • PAPER MONEY 3rd Annual George W. Wait Memorial Prize Society of Paper Money Collectors Official Announcement Purpose: The Society of Paper Money Collectors is chartered "to promote, stimulate, and advance the study of paper money and other financial documents in all their branches, along educational, historical and scientif- ic lines." The George W. Wait Memorial Prize is available annually to assist researchers engaged in important research leading to publication of book length works in the paper money field. George W. Wait, a founder and former SPMC President, was instrumental in launching the Society's successful publishing program. The George W. Wait Memorial Prize is established to memorialize his achievements/contributions to this field in perpetuity. Award: $500 will be awarded in unrestricted research grant(s). Note: the Awards Committee may decide to award this amount to a single applicant, or lesser amounts totaling $500 to more than one applicant. If, in the opinion of the Awards Committee, no qualifying applicant is found, funds will be held over. Prior Award Winners: Two individuals have thus far been awarded the Wait Memorial Prize. Both received the maximum award. 1st annual Wait winner was Robert S. Neal for his work on the antebellum Bank of Cape Fear, NC. Last year the award went to Forrest Daniel for his manuscript on small size Treasury Notes used to finance the War of 1812. Eligibility: Anyone engaged in important research on paper money subjects is eligible to apply for the prize. Paper Money for the purposes of this award is to be defined broadly. In this context paper money is construed to mean U.S. federal currency, bonds, checks and other obligations; National Currency and National Banks; state-chartered banks of issue, obsolete notes, bonds, checks and other scrip of such banks; or railroads, municipalities, states, or other chartered corporations; private scrip; currency substitutes; essais, proofs or specimens; or sim- ilar items from abroad; or the engraving, production or coun- terfeiting of paper money and related items; or financial histo- ry in which the study of financial obligations such as paper money is integral. Deadline for entries: March 15, 2003 A successful applicant must furnish sufficient information to demonstrate to the Society of Paper Money Collectors Awards Committee the importance of the research, the seriousness of the applicant, and the likelihood that such will be published for the consumption of the membership of SPMC and the public generally. The applicant's track record of research and publication will be taken into account in making the award. A single applicant may submit up to two entries in a sin- gle year. Each entry must be full and complete in itself. It must be packaged separately and submitted separately. All rules must be followed with respect to each entry, or disquali- fication of the non-conforming entry will result. Additional rules: The Wait Memorial Prize may be awarded to a single applicant for the same project more than once; however awards for a single project will not be given to a sin- gle applicant more than once in five years, and no applicant may win the Wait Memorial Prize in consecutive years. An applicant who does not win an annual prize may sub- mit an updated entry of the non-winning project in a subse- quent year. Two or more applicants may submit a single entry for the Wait Prize. No members of the SPMC Awards Committee may apply for the Wait Memorial Prize in a year he/she is a member of the awarding committee. Winner agrees to acknowledge the assistance of the Society of Paper Money Collectors and the receipt of its George W. Wait Memorial Prize in any publication of research assisted by receipt of this award and to furnish a copy of any such publication to the SPMC library. Entries must include: • the full name of the applicant(s) • each applicant's social security number • a permanent address for each applicant • a telephone number for each applicant • the title of the research project/book • sufficient written material of the scope and progress of the project thus far, including published samples of portions of the research project, if appropriate Entries may also include: • the applicant's SPMC membership number(s) • the applicant's e-mail address (if available) • a bibliography and/or samples of the applicant's past pub- lished paper money research • a photograph of each applicant suitable for publicity • a publishable photograph(s) of paper money integral to the applicant's research • a statement of publishability for the project under consid- eration from a recognized publisher Judging: All entries must be received by March 15, 2003. All entries must be complete when submitted, and sufficient return postage should be included if return is desired. Address entries to George W. Wait Memorial Prize, P.O. Box 793941, Dallas, TX 75379. The single, over-riding criterion for the awarding of the Wait Memorial Prize will be the importance of the publication of the applicant's research to SPMC members and the general public. All decisions of the SPMC Awards Committee will be final. First publication of the awarding of the Wait Memorial Prize will be revealed in the May/June 2003 issue of SPMC's magazine, Paper Money, with subse- quent news release to additional media. titeEo34; 0 15.3_11W- ""'"l'ilK•rsimil owns-Ng, ;1427 ignsiAtik ark% lank 1:1h It#011# 1890 $1,000 "Grand Watermelon" Note $500 1880 Legal Tender Serial #1 Washington Brownback 615013Vilioaatilfif- waeaflotillifitvoi ..... Geld We strongly reconuuend 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 CXfirht PAPER MONEY • November/December 2002 • Whole No. 222 365 Lyn Knight Currency Auctions Deal With The Leading Auction Company in U.S. Currency 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 1882 $1,000 Gold Certificate Currency Auctions A Collectors Universe Company Nasdaq: CLCT Ilex 73114. Overland Park, KS 99207 • 800-243-5211 • 913-338-3779 • Fax: 913-338-4754 • E-mail: • 366 November/December 2002 • Whole No. 222 • PAPER MONEY Wismer State Catalogs General Guidelines for Authors: The SPMC's objective is to assist with publication of a state catalog representing every state in America. However; there is no Society claim to ownership of any right to pub- lish; and the Society is highly pleased when similar efforts are undertaken by others, such as private individuals, firms, or historical societies. All SPMC is really interested in, is mak- ing the information available to collectors and researchers. If the Society can assist any other such efforts, it will be happy to entertain requests for assistance. Authors should look at previous volumes published by the Society for general guidance on format and layout. SPMC catalogs have used several fairly standardized listing formats. The single mandatory rule is that the front side of notes must be called the "face" and the other side must be called the "back". Do not use the terms "obverse" or "reverse", or any other than these approved terms. Otherwise, there are no absolute rules on format. Many of the already completed catalogs relating to paper money have followed the author's personal preference. The Society would like the books to at least be approximately the same size in so far as height and width, so they look good in our bookcases. What constitutes an "Obsolete Note"; which should therefore be included in a state catalog/listing? Basically, any paper issued as currency, as a substitute for currency or look- ing like currency, for any purpose that is not current, meets the definition. The period covered should be from the earli- est date of issue in the state to approximately 1935. Therefore, a state catalog might begin with Colonial issues and end with Depression Scrip of the 1930s. The rules about what gets included are relaxed for the rare western states. Therefore, items such as checks and drafts that would not be included for an eastern state, which issued notes from 1815 through 1935, would be OK for Idaho, California and Montana. Types of notes, i.e. Bank Notes, Civil War Scrip, Depression Scrip, Advertising Scrip, etc., may be listed in separate sections of the book, or integrated throughout by their location of issue. Many different categories of obsolete notes have a separate specialty catalog that only includes a single category of "Obsolete Currency", such as Sutler Scrip, or Advertising "Look-a-Likes". Such notes should also be included in the SPMC state catalogs. Several somewhat standard chapters and indexes have evolved for the SPMC books. A general financial history of the state is important, along with how the catalog is orga- nized (for example; by historical eras such as the territorial period followed by statehood issues. Or, all depression scrip/coal scrip/advertising scrip etc., can be included in an appendix.) An index of locations and issuers should be added since most collectors want to know what notes were issued from their personal location or area of interest. Standard rarity scales are included; without values placed on the notes. Include an index of printers and engravers. In general as much information about the issuer and the note as possible is desirable. Locations are listed first, alpha- betically and then the issuers from each location are listed, alphabetically. Denominations, if used on the note, go next from smallest to largest. Face design, back design if used, denomination, date if used, and description of the vignettes and counters on the note follow, usually as left (L), center (C) and right (R). Last is the printer or engraver followed by the author's estimate of rarity, using the standard scale. The best way to describe a note is with a quality color, or black and white, photo of both sides. Every clearly differ- ent note (type) should have a unique catalog number; the simpler the better. Numbering space should be reserved every once in awhile for future discoveries to be inserted into the system. If no illustration is available, the verbal descrip- tion must be sufficient to identify the note. Don't forget the back side. The amount of description for each note can be reduced if an illustration is used. Note illustrations can be black and white, or color photographs, of good quality. They may be scanned or quality photocopies. If scanned, or digitally photographed, they should be stored on a disc. Use J-Peg format to store digital images. Text should be done in current version WORD® for- mat and stored on discs. Please spell check your manuscript, and if you are not good at English, have it reviewed by some- one who is. The Society can edit text for English, but would rather that the author do it. Include a paginated index. A Few Tips: (1) Do not attempt or expect to list every note that was ever issued in your state. At some reasonable point, stop, and get it ready for publication. The desire to wait for every note that might ever surface has severely restricted publication of a number of these catalogs. You want to see it in print while you can still see! (2) Include as much related information as possible; about financial history of the state, the issuers, the period of issue, places of business, etc. Related checks, drafts and pho- tographs add a great deal of interest to any volume. (3) It is very important to add peripheral material illus- trations, if available, such as period photos of the note issuer or his place of business. A contemporary map should be included, showing the town or city locations where the notes were issued or circulated. The more information, the better. The catalog should be inviting to read for its historical con- tent rather than simply a listing of known notes. (4) Reimbursement of Expenses: The Society will reimburse modest expenses for items such as photography. You must have receipts. Do not spend lots of money that you hope to have reimbursed, without obtaining advance approval of the Board. Research Plea: Many hobbyists have gathered data and illustrations of existing notes from their state, or particular area of interest; for years, without ever getting to the point of publication. It would be an unfortunate loss to the paper money hobby if this material is not preserved for future state volunteer authors. Therefore, any persons who have research material for any of the pending or past state catalogs, are requested to please donate it to the Society Library. If necessary the Society will reimburse any packaging or mailing costs. Address for the library is: Robert Schreiner at P.O. BOX 2331, Chapel Hill, NC 27515-233 ---- Steve Whitfield, Winner Book Project Coordinator v PUBLIC COIN AUCTION ni versa ry Sale ST (Private ;Museum Collection United States '11),,pe (Paper :Honey 1 0 OCTOBER /6,2001 itadth' 123 WEST 57Ih STREET, NEW YORK, N.Y. PUBLIC AUCTION SALE AMERICANA COLONIAL AND FEDERAL COINS, MEDALS AND CURRENCY f"eurariug Selections from the Hain Family Collection Part II January 15, 16, 17, 2002 cifka,..45J-- 1 , ._3 WEST S711:STFLUX. NEW YORK, N.Y. 10019.2:30 PAPER MONEY • November/December 2002 • Whole No. 222 367 America's OLDEST COIN Auction House Is Also America's OLDEST CURRENCY Auction House When you think of selling, you must think of Consignments are now being accepted for our upcoming 2002/2003 Auction Schedule Contact Harvey or Lawrence Stack for consignment information. 2001 AMERICANA SALE Prices Realized nearly $4.5 Million, including $850,000 in banknotes. 66th ANNIVERSARY SALE Private Museum Collection of U.S. Type Notes Prices Realized $300,000+. 2002 AMERICANA SALE Prices Realized Over $7.3 million, including $500,000 in currency. 123 West 57th Street New York, NY 10019 ® Telephone (212) 582-2580 FAX: (212) 245-5018 e-mail: Visit our Web site at PROFESSIO NYT HUM ISM111112 suito " Larry Stack Harvey Stack Torn Panichella STACK'S NUMISMATISTS Auctions — Appraisals — Retail SINCE 1935 NLG AWARD Posed% CLUB PUBLICATIONS BEST ISSUE PAPER MONEY, MAY-JUNE 2002 FRED L. REED III, EDITOR NEW YORK CITY, AUGUST 2002 Collectibles INSURANCE For The PaperMoney Collector Your homeowners insurance is rarely enough to cover your collectibles. We've provided economical, dependable collectibles insurance since 1966. • 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. application and rate •Detailed inventory and/or professional appraisal not required. Collectors list items quote forms on over $5,000, dealers no listing required. our website! Collectibles Insurance Agency P.O. Box 1200-PMC • Westminster MD 21158 E-Mail: See our online More Info? Need A Rate Quote? Visit: Or Call Toll Free:1-888-837-9537 • Fax: (410) 876-9233 s; li$3.19.1:*(tir ,t31•- • • Sample collector rates: 53,000 for $12, $10,000 for S32, S25,000 for $82, $40,000 for 5132, $60,000 for $198, SI per $1,000 above $60,000. • Our insurance carrier i s AM Best's rated A-1- (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. VISA' 368 November/December 2002 • Whole No. 222 • PAPER MONEY Paper Money Takes Top ANA & NLG Laurels in NYC FOR THE SECOND YEAR IN A ROW, SPMC'Sbimonthly magazine Paper Money has been honored as the outstanding club publication by the American Numismatic Association and the Numismatic Literary Guild. In announcing the ANA award Gar Travis, ANA repre- sentative wrote SPMC President Frank Clark: "Fellow Numismatists, I wanted to take this opportunity to congratu- late SPMC and the editor of Paper Money, Fred Reed, on receiving the first place award for specialty club publications at the ANA's 111th anniversary convention in New York." "We are very excited that SPMC's member-authors have received this acknowledgement again," Frank Clark said. AMERICAN NUMISMATIC ASSOCIATION SOCIETY OF PAPER MONEY COLLECTORS Paper Money 2002 FIRST PLACE OUTSTANDING SPECIALTY NUMISMATIC PUBLICATION •2002• PUBLICATION AWARD "Our journal would not be the outstanding publi- cation it is without the research and writing tal- ents of our many authors who take time to share their specialties with other members of SPMC." PAPER MONEY • November/December 2002 • Whole No. 222 369 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 82 It's Still 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 November/December 2002 • Whole No. 222 • PAPER MONEY370 SPMC Annual Board Meeting June 15, 2002 Memphis, Tennessee Tom Minerley, Secretary Meeting called to order Saturday, June 15, 2002 at 8:00 AM by Frank Clark, President. Mark Anderson had made up individual binders for all Board Members to hold the reports, etc., of the meeting, for which Frank thanked him. Frank introduced visitors to the meeting: Guy Kraus and Lesie Leane providing an overview of the Mississippi Obsolete book, David Hollander to present the 1929 Project report, Peter Huntoon, Michelle Orzano from Coin World, and Jeff Meyer of the Texas Numismatic Association. Kraus presented a mass of 5 1/4" diskettes stating that the text of the manuscript was complete but he was having difficulties generating the photographs and was requesting help. Fred Reed suggested he contact a Kinkos-type facility to see if the images on the diskettes were retrievable. Bob Cochran agreed with Anderson's support. Judith Murphy made a motion to reimburse Kraus up to $150 for the work, seconded by Mark. Gene Hessler mentioned that he felt Kinko might do it for free and also reminded Kraus to alter the text to change "obverse" and "reverse" to "front" and "back". Mark insisted that a progress report on the project be presented before the St. Louis meeting. Peter Huntoon reported that the sorting of the cur- rency archives at the Smithsonian Institute is progress- ing and that the Smithsonian was ready to move on a travelling exhibit, possibly at St. Louis. Continued funding of the project work was to be left up to the Paper Money Education Committee. Mark stated that partial payment had been authorized to pay Huntoon and a portion of the exhibit costs. Wendell Wolka men- tioned that the money had already been allocated and just the "how to" spend matter was still up in the air. Further allocations would be up to the committee sub- ject to the approval of the Board. John Wilson, ANA president, briefly reviewed the ANA's educational programs and presented a copy of a video on paper money to the SPMC library. Gene moved to accept the minutes of the St. Louis meeting and the motion was approved unanimously. Elections: The Secretary casting one vote for the following candidates decided election of uncontested seats on the Board of Governors: Bob Cochran Arri Jacobs Frank Clark Gene Hessler Above: SPMC President Frank Clark (R) congratulates the Glenn Jackson award winner, Gene Hessler (L) during Society activities at the recent Memphis International Paper Money Show. Below left: Clark presents Awards of Merit to Chet Krause (L) and Cliff Mishler (R) following their informative presentation to the Society's Annual General Meeting. (All photos by Dave Kranz, Bank Note Reporter, courtesy of Krause Publicatons) Reports: Wendell reported that the web site had received 35,000+ hits in the last eight months, a 53% increase. He mentioned that the web site host may have to charge a nominal fee for service, an amount estimated at $20. Mark requested that an annual bill be sought instead of a monthly one in order to simplify bookkeep- ing. Decision to authorize payment was accepted unani- mously. Mark gave the Treasurer's report, indicated a pro- jected $9,000 deficit for the current year. He stated the Board should consider a dues increase to $30 per year to make up for revenue shortfall. With the current CD rates not too encouraging, the advertising revenues were now subsidizing the cost of membership. Mark contin- PAPER MONEY • November/December 2002 • Whole No. 222 371 ued his report by stating that the Falater episode is now closed and the Huntoon books have all been paid off. Bob Cochran stated he was under the impression that the increase in the size of Paper Money would be offset by an increase in advertising revenues. Fred reported that since most of the advertisers had renewed for the current year at the previous year's rates, only new adver- tisers were now paying the increased rates. Advertising revenue was projected at $28,000 for the current year, increasing to $41,000 next year at the higher rates. To boost income, Arri suggested that Mark look into U.S. Savings Bonds instead of CDs. Mark said he'd look into it before the CDs matured. Gene suggested putting out smaller issues to save money, but Fred countered by stating the savings would be insignificant. Mark's report was unanimously accepted. The Secretary handed out reports on the current membership and their geographic distribution. Membership had dropped from 1,817 as of February 8 to 1,624 as of June 10. Tom stated that with member- ship down from the previous year this year might not be the best year to support non-SPMC causes with mem- ber funds. He suggested that every option for increas- ing membership be followed up. Ron Horstman sug- gested that the major auction firms be approached to place SPMC applications in their catalogues. Frank said he'd talk with Allen Mincho and Lyn Knight about doing just that. The Secretary's report was accepted unanimously. Fred Reed reported that, while the special issue authors were "one shooters", the journal was looking more serious and imposing and he had more articles to publish than ever before. He further reported that the issues through the November/December issue were already done and that the January/February issue would Nathan Goldstein (L) receives a plaque acknowledging the renam- ing of the Society's annual recruiting award in his honor from President Clark as Vice President Wendell Wolka looks on. Goldstein was responsible for recruiting hundreds of members to SPMC in the early days of the Society. Paper Money Editor Fred Reed (L) receives a handshake and an award plaque from David Harper, Editor of Bank Note Reporter, for his exhibit "Show Me the Money!" illustrating dozens of exam- ples of motion picture prop money. The display won the BNR "Most Inspirational" award as the exhibit most likely to interest a member of the general public in collecting paper money. be a specialized issue dealing with fractional currency with significant input from the Fractional Currency Collectors group. That issue is still in the works. Ron stated that he'd talked with Don Kagin about doing an article on War of 1812 scrip and requested that Fred talk to Don about doing such an article for PM. Fred said he'd follow up on the suggestion. A committee was set up to study the possibility of putting PM in e-maga- zine format. Frank set up the committee to be chaired by Arri and consisting of Wendel Wolka, Fred Reed and Tom Minerley. Fred's report was unanimously accept- ed. Membership - Frank stated he'd get a supply of applications to Judith Murphy and Bob Schreiner and to the SPMC table at the ANA. Arri made a motion that SPMC join the IBNS. Ron Horstman seconded and the motion was accepted unanimously. The applications was subsequently submitted by Frank. Judith suggested that SPMC take out advertisements in Coin World's clas- sified section in lieu of not getting free space to recruit members. Frank said he would take out such an ad. The ad has subsequently been taken out in Coin World. Dave Hollander made his report on the progress of the 1929 Project. He stated that he was reconstructing his data based on real and substantiated information, requiring photocopies. He was questioned as to why Kelly's census and his don't agree and that he should approach him in a spirit of cooperation to make the census a real tool. There was no reply on the sugges- am,* DOWN I OWN November/December 2002 • Whole No. 222 • PAPER MONEY372 tion. He remains committed to get something to Fred at some date in the future, but would not commit him- self to a specific date. A Wismer Project report was present- ed by Steve Whitfield where he reported on the status of the various manuscripts submitted, particularly the Mississippi book. There remains a need for formal guidelines for both authors and publishers and he suggested that all future books be published in a soft cover format. This has subsequently been accomplished. The new committee to study putting PM on disc or in e-magazine format met during a break at the board meeting and Arri requested that Wendell post a ques- tionnaire on the web site using examples of old issues of PM for down loading. Ideally, members might have a choice between receiving PM in its familiar for- mat, on diskette or on line. Fred stated he'd mention the questionnaire in his column in an upcoming issue, stating as an incentive a possible sup- plementary news letter between issues, first crack at advertised materials, etc. Wendell said he's work to fire wall the web site. Gene and Fred brought up the issue of plagiarism charges from authors who might not want their works put out if there was the possibility of it being lifted. Library Report - Bob Schreiner reported that he's installed shelving to host the library, which currently consists of only a bound set of PMs. Everything is already to go, the software is in place, the web site ready, everything but the books. Dick Balbaton contin- ues to hold the SPMC library and refused to either relinquish it or discuss the library in general. Two members, Robert Moon and Torn Minerley, have vol- unteered to drive to Balbaton's house and retrieve the library in toto, prepare it for shipment and have it for- warded to Bob's, but no gentle persuasion has moved Balbaton to give it up. Judith stated that since Roger Durand is not only a friend to Balbaton but is the actual Those attending the SPMC annual breakfast at Memphis enjoyed some good food and fellowship. They also heard an excellent extemporaneous acceptance speech by Don Kagin (R rear) who was honored by Krause Publications as a "Numismatic Ambassador." Don spoke about his research on War of 1812 small size Treasury notes. Some of those in attendance like Memphis Coin Club President Robert 1. Perry (C) also took home Tom Bain raffle prizes. librarian of record, he should be obligated to either retrieve the books or make good their cash value. Ron Horstman suggested that Frank first send Balbaton another letter threatening legal action as an alternative to cooperation. Frank stated he'd refer the matter to the legal counsel and let him handle the matter. This step has subsequently been taken. Judith Murphy reported on regional meetings. For July, there were none scheduled. In August, meetings would be held at Dallas and the Blue Ridge show, September at the ANA, Lancaster and NCNA and St. Louis in November. Scheduled for the February CPMX, Judith has arranged for a panel discussion on currency grading to cover all aspects of the hobby to include obsoletes (Douglas Ball), federal (Martin Gengerke), as well as experts in other spe- cialties Participants would be expressing Left: Breakfast emcee Wendell Wolka presents a prize at the Tom Bain Raffle, which is held annual- ly during the Society's breakfast meeting. PAPER MONEY • November/December 2002 • Whole No. 222 373 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 Fax: (765) 583-4584 e-mail: website: r Always Wanted Monmouth County, New Jersey Obsoletes — Nationals — Scrip Histories and Memorabilia Allenhurst — Allentown — Asbuiy Park — Atlantic Highlands — Belmar Bradley Beach — Eatontown — Englishtown — Freehold — Howell Keansburg — Keyport — Long Branch — Manasquan — Matawan Middletown — 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 New Hampshire Notes Wanted: Obsolete currency, National Bank notes, other items relating to New Hampshire paper money from the earliest days onward. Dave Bowers Box 1224 Wolfeboro, NH 03894 E-mail: Fax: 603-569-5319 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 374 November/December 2002 • Whole No. 222 • PAPER MONEY their own opinions and standards, not specifically those of SPMC. A unanimous vote was taken to make it an SPMC sponsored affair, together with IBNS. Judith would be checking the wording of disclaimer with Fred and Arri. Education Committee — Benny Bolin reported that the ANA is seeking another $1,000 "donation" but believes they should get it only if SPMC receives appro- priate recognition. The Smithsonian Institute wants another $1,000 for their currency sorting project, but he recommends giving it to them only if they display mate- rial at two quality shows. All requests for research money, he reminded the Board, should go through the committee. Particular emphasis was placed earlier on Huntoon's unorthodox method of directly appealing to the Board for continued funding. Ron Horstman reported that the Smithsonian money must be tied to displaying material already identified, but told the board that the BEP has a new head that won't allow material to be shown at commercial shows. Since all major shows are that, members may never see what their money helped pay for. Judith suggested approaching BEP as showing material under the auspices of the Education Committee of SPMC instead of a particular show. The ANA also put in another plug for support to the tune of $1,000 for support of their library as the price of having Chet Krause and Cliff Mishler appear at this year's general membership meeting. This support of their particular pet project was unanimously approved. Old Business: The plan formulated at an earlier Board meeting to republish "best of stories from PM was rejected by the publisher. Fred reported that no publisher would do any "best of anything that con- tained more than 1/3rd recycled material. Judith point- ed out that especially in light of the Huntoon book fias- co, the sale would probably be doomed. Discussion ended with no decision on whether to give up on the idea or not and died of lack of interest. New Business: Discussion continued on the dis- tribution of the remaining copies of the 40th anniver- sary edition of PM. Judith stated she wanted some to distribute at the ANA. Frank wanted to use them as give-aways with new subscriptions until they were all gone. Discussion of Forrest Daniel's manuscript was punctuated with news that the author's health has dete- riorated to the point that he was not able to attend Memphis. Nothing is currently planned for the manu- script. Frank announced that the recruitment award, officially renamed the "Nathaniel Goldstein Recruitment Award," was being presented to dealer Tom Denly of Boston. On the matter of insurance lia- bility brought up originally in St. Louis, Ron made a motion that the Board pursue "error and omission" insurance to protect officers within the next 30 days. Judith seconded the motion which passed with only one opposing vote of the Board members still present. A motion was then made to raise the general mem- bership dues in SPMC in order to cover the expected revenue deficit. Frank pointed out that there had not been a dues increase since 1987. Fred motioned that the fee structure be altered as follows: Current Proposed Annual $24 $30 Canadian/ $29 $35 Mexican Foreign $34 $40 Life (US) $500 $600 Life (Cdn/Mex) $600 $700 Life (foreign0 $700 $800 Arri seconded the motion and it passed unanimous- ly. New applications have been printed up and mailed out. As a final house keeping matter, Arri suggested moving Board meetings from Saturday to Sunday to allow dealers time to work their tables. It was pointed out that most people travel on Sunday, so there was no substantial discussion of the matter. The Board Meeting was adjourned at 11:20 AM. Respectfully submitted, Tom Minerley, Secretary 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: We are proud to continue the numismatic 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. 98 Main Street #201 Tiburon, CA 94920 1-888-8KAGI NS Call Judy r 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 6778 San Mateo, California 94403 (650) 458-8842 Fax: (650) 458-8843 E-mail: Member SPMC, PCDA, ANA NEW YORK STATE SCRIP AND PRIVATE ISSUES 1,300 listings, 800 photos $38.95 (plus sales tax if applicable) Gordon L Harris 5818 S. Terry Rd. Syracuse, NY 13219 DO YOU COLLECT FISCAL PAPER? The American Society of Check Collectors publishes a quarterly journal for members. Visit our website at 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. PAPER MONEY • November/December 2002 • Whole No. 222 375 Claud & Judith 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: November/December 2002 • Whole No. 222 • PAPER MONEY376 I 'M PLEASED TO ANNOUNCE THAT OURJournal has once again been honored by the American Numismatic Association and the Numismatic Literary Guild (see Page 368) for the quality of its articles and presentation. Each member of the Society should take pride that your bimonthly magazine has been judged excellent by these outside groups. But then, our mem- bers already knew that. The quality of your articles amazes me with each issue, and I enjoy every one. I congratulate EVERY author who contributed to our winning these prestigious awards. With winter season just around the corner, now is the time to sharpen your pencil and write that article you have been meaning to but just haven't gotten around to yet. Let's keep our Journal at the forefront of this wonderful hobby. And while you are at it, sign up a friend as a new SPMC member. Our Society has been the hobby's "best kept secret" for far too long! Frank PAPER MONEY will accept classified advertising on a basis of 15c 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. Authors are also offered a free three-line classified ad in recognition of their contribution to the Society. These ads are denoted by (A) and are run on a space available basis. WANTED NATIONAL BANK NOTE. Raymondville, Texas Charter #12789 $5. Ralph Osborn, 380 Concord St., Vidor, TX 77662-6002 (223) GEORGE BOND, deputy secretary Continental Congress, signer of Continental Currency. Need biography or biographical sketch. Forrest Daniel, 416 North 13th Street, Bismarck ND 58501 (A) CANDOR NY WANTED. Looking for FNB of Candor NY #353 note from the first sheet ($5 T2 serial number 1-6). Al Kaminsky, 7461 Brighouse Court, Alexandria VA 22315 -3835 (223) 20th CENTURY U.S., articles relating to modern small size U.S. cur- rency are especially needed for publication in Paper Money. If you col- lect this material, try your hand at authoring an article too! (A) EXPAND YOUR COLLECTION. Classified ad rates are low, low, low. Send ad copy and check payable to SPMC to the Editor, PO Box 793941, Dallas, Texas 75379-3941 (A) AUTHORS WANTED. Expand your resume; impress your friends; win a cash award. Send your best articles to PM Editor today! (A) PAPER MONEY ADVERTISERS want to hear from you. When ordering or contacting an advertiser in this magazine, tell him/her "I saw your ad in SPMC's magazine Paper IVIoneyr (A) r Coming Next Issue U.S. Fractional Currency Special Issue SPMC in collaboration with the Fractional Currency Collectors Board are proud to present an entire 80-page special issue of Paper Money devoted to these interesting notes Ad Deadline December 15th, 2002 Don't wait and miss out Full Page rate $300 Half Page rate $175 Quarter Page rate $100 Contact Editor NOW WORLD PAPER MONEY specialized in Poland, Russia & E.Europe ATS notes Free Price List Torn Sluszkiewicz P.O.Box 54521, Middlegate Postal BURNABY, B.C., CANADA, V5E 4J6 Checks, Checks, Checks! Add to your check collection Acquire collateral material for your National collection Revenue Stamps & Imprints Thousands of Checks 7AI #.41**11 41-kka l ilW Exonumia and Bank History Books Now Selling on Ebay! Ebay Seller ID: We still service want lists OREGON PAPER MONEY EXCHANGE 6802 SW 33RD Pl. Portland, OR 97219 503-245-3659 Fax 503-244-2977 Email: opme© r Announcing Paper Money Special Issues for 2003 January/February U.S. Fractional Currency Issue May/June 2nd U.S. National Banknote Issue September/October 3rd International Currency Issue SPMC's special 80-page issues of its award-winning journal Paper Money have become the "hot ticket" in the hobby Reserve your advertising space now Full Page rate $300 Half Page rate $175 Quarter Page rate $100 Contact Editor NOW STOCKS & BONDS MONTHLY MAIL BID SALES RR's, Mining, Banking, etc. etc. Something For Everyone FREE LISTING RICHARD T. HOOBER, JR. P.O. Box 7917, North Port, FL 34287 Phone or Fax (941) 426-2620 r I I I I I PAPER MONEY • November/December 2002 • Whole No. 222 377 November/December 2002 • Whole No. 222 • PAPER MONEY378 NEW MEMBERS MEMBERSHIP DIRECTOR Frank Clark P.O. Box 11 7060 Carrollton, TX SPMC NEW MEMBERS - 07/15/2002 10477 Bob Walker (C, Silver Certificates, US Notes), Tom Denly 10478 George A. DuBarry (C), Torn Denly 10479 Dan Bryant (C), Torn Denly 10480 George Gifford (C, $2 USN's), Website 10481 Jack Sendak, 3208 Corrine Ln, Virginia Beach, VA 23452 (C, Confederate, Obsolete, Colonial), Frank Clark 10482 William Monty Farmer, PO Box 3477, Meridian, MS 39303 (C, Mississippi Nationals) 10483 Charles Habe (C), Tom Denly 10484 Michael A. Kornreich (C), Torn Denly 10485 Eddie L. Culbertson (C), Tom Denly 10486 Edward W. Stewart (C,) FCCB 10487 Paul S. Berry, PO Box 1346, Station "B", Ottawa, ON K2P 5R4, Canada (C), Torn Minerley 10488 Frederick S. Groshens (C), Tom Denly 10489 Timothy S. Cooney, 1119 W. Walser Rd, Shelbyville, IN (C), Website 10490 Robert J. Drew, 97 S. Main St Suite 442, Brigham City, UT 84302 (C, MPC's and small size silver certifi- cates), Frank Clark 10491 Ricardo Lobo (C), Tom Denly 10492 John G. Browning (C), Website 10493 Matt Janzen, 3601 Page Dr #1, Plover, WI 54467 (C, WI Obsoletes & Nationals), Website 10494 Ben Karnefsky, 9214 NW 81 Place, Tamarac, FL 33321 (C, Fractionals, US Large), Website SPMC NEW MEMBERS - 08/09/2002 10495 Fred Greenough (C), Tom Denly 10496 Joseph Bruce Jr. (C), Website 10497 Kevin Wayne Rumes, 23755 Cottage Tr, Olmsted Letter to the Editor Dear Mr. Reed: I wanted to let you know about this information which I located by using the Freedom of Information Act. Do you know anyone who might find this useful? Interesting Government Reports Available By Michael Ravnitzky The United States Bureau of Engraving and Printing (BEP) has a set of very interesting documents which you can obtain by sending a written request to the BEP. They are the "Weekly External Relations Reports" Falls, Ohio 44138 (C, Obsoletes, Fractionals, Confederate, Gold & Silver Certificates), Harry Jones 10498 Warner Talso, 12505 Crestline Ave NE, Albuquerque, NM 87112 (C, MPC & AMC), Frank Clark 10499 George Gerry, 1006 Speake Rd, Huntsville, AL 35816-3534 (C, U.S.), Frank Clark 10500 R. Mark Fischer, PO Box 1986, Visalia, CA 93279- 1986 (D, US & Obsoletes), Don Kelly 10501 John F. Susavage (C), Tom Denly 10502 Rodney E. Heckman, 2920 Oak Hill Rd, Evansville, IN 47711 (D), Bob Cochran 10503 Matthew Adams (C), Website 10504 Eric Dann, PO Box 18214, Hattiesburg, MS 39404- 8214 (C, Stars and Silver Certificates), Frank Clark 10505 Mike Maberry, 518 Pleasant View Dr, Philadelphia, MS 39350 (C, Confederate, State Notes, Treasury Warrants), Website 10506 Gary J. Dobbins, 10308 Vistadale Dr, Dallas, TX 75238 (C, US Large), Frank Clark 10507 Gavin R. Allan, 240 E. Liberty St, Schuylkill Haven, PA 17972-1706 (C, All $2's - US, Confederate, Foreign), Website 10508 Frank 0. Walsh III (C), John A. Parker 10509 Michael Funderburk, 8427 NW 2nd PL, Gainesville, FL 32607 (C), Website 1051 0 Chris Scapardine (C) 10511 James Sgro (C), Website REINSTATEMENT 6470 J. Lipka, PO Box 847, Flemington, NJ 08822 (C & D, Nationals), Frank Clark 7301 Jerry Swanson, PO Box 565, Rochester, MN 55903 (C & D, SE MN Nationals & Obsoletes), Bob Cochran SPMC NEW MEMBERS - 08/22/2002 10512 Otto McCulley (C) Frank Clark 10513 Fred Weinberg, 16311 Ventura Blvd #1298, Encino, CA 91436 (D, Errors), Bob Cochran 10514 Alec A. Pandaleon III (C) Tom Denly & Hugh Shull 10515 A.J. Sims (C), John A. Parker DECEASED 9983 Kenneth Gyure and they discuss inquiries to BEP from the press and the public. Each weekly report is only a couple of pages. You can ask for these reports for any period of time. A six months group of these Weekly Reports would be about 50 pages. These reports have been produced for several years. In the note, you need to agree that you will pay fees if necessary, but the cost should be free of charge if it is less than 100 pages in length. All you need to do is send a request by mail or fax to: Bureau of Engraving & Printing, Freedom of Information Request Office, 14th & C Street SW, Washington, DC 20228. The phone number is 202- 874-2058, and the fax number is 202-927-3320 Regards, Mike 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 .k•1 -4}ii PCDA, SPMC 1C11:11 ,11,1t M■ AI-1 II I.14: I (Ms SOVEREIGNTh MYLAR SLEEVES 8T_ ENVELOPES Sovereign- Currency Storage - Just one of the categories in the Archivalware Catalog. 40 full color pages of Archival Collectibles Storage and Exhibition products. Send for your free copy & receive sam- ples of our 4 mil Mylar Currency Envelopes. Request your free Catalog Tel: 1.800.628.1912 Fax: 1.800.532.9281 E-mail: toots for senous collectors PAPER MONEY • November/December 2002 • Whole No. 222 379 United States Paper Money --special selections for discriminating collectors-- Buying and Selling the finest in U.S. paper money Individual Rarities: Large, Small National Serial Number One Notes Large Size Type Error Notes Small Size Type National Currency Star or Replacement Notes Specimens, Proofs, Experimentals Frederick J. Bart Bart, Inc. (586) 979-3400 PO Box 2 • Roseville, MI 48066 E-mail: 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 Polls 4501 Connecticut Avenue NW Suite 306 Washington, DC 20008 (202) 363-6650 Fax: (202) 363-4712 E-mail: Member: SPMC, FCCB, ANA ANV83453_ 380 November/December 2002 • Whole No. 222 • PAPER MONEY And Tradition of Bank Note Excellence Canadians Extend New Series By Harold Don Allen Canada's new $5 note (above and below) joins its new $10 note released last year. C OLLECTORS WITH INTEREST IN CURRENT PAPER money of other nations will have noted that Canada's central bank, the Bank of Canada, has released a second denomination in the pro- posed five-note series, which it is referring to as "Canadian Journey." The new note, a blue $5, portrays Sir Wilfrid Laurier, Liberal prime minister from 1896 to 1911. The back of the new $5 shows children skating, tobogganing, playing ice hockey, in an appropriate outdoor setting. The companion $10 note, in purple, depicts Sir John A. Macdonald, Conservative prime minister from 1867 to 1871 and from 1878 to 1891. It was released early in 2001 and was shown in the 1st Paper Money International Special Issue last fall. Its distinctive reverse features allusions to Canada's armed services, peacekeeping, and remembrance. Corresponding $20, $50, and $100 denominations are understood to be in an advanced planning stage, with such higher values possibly to be printed on polymer plastic. The two low denominations use 100 per cent cotton bank note paper. The $5 currently is Canada's lowest bank note denomination, tra- ditional $1 and $2 values having been wholly replaced by coins. The three higher values are to feature reengraved portraits of personages already identified with the respective denominations. Thus, Queen Elizabeth II, as Canada's head of state, will be on the $20, with William Lyon Mackenzie -6.50 FIMISO FIFTY50 rirrar so FIFTY50 FIFTY50 PIPUY50 *4140"- #.0 ,■•• var. j....,waireop.a.sontaime PAPER MONEY • November/December 2002 • Whole No. 222 King and Sir Robert Borden, more recent Canadian prime ministers, on the $50 and $100, respectively. New Canadian notes released to date have incorporated the expected turn-of-millennium range of anti-counterfeiting devices, with dominant, out- standing portraiture; skillful use of intaglio for lettering, scrollwork and vignettes; microlettering; and design elements that shift when viewed oblique- ly. Identified as Issue of 2002, the $5 value carries engraved signatures of Malcolm D. Knight, senior deputy governor, and David R. Dodge, governor, with releases thus far carrying the inital printing date, 2001. The portrait engraver for the new Laurier $5 has been identified as Czeslaw Slania, an internation- ally acclaimed practitioner, with completion by Jorge Peral, artistic director of Canadian Bank Note Company. The Macdonald likeness, for the $10 had been engraved by Peral. In contrast to some decades ago when several large firms of security printers tended to dominate much of world paper money production, these new notes may be viewed as an essentially "made in Canada" product. Canada has a tradition of superior bank note work, however, much of it by American Bank Note Company, New York or Ottawa; Canadian Bank Note Company (then an ABNCo subsidiary); and British American Bank Note Company (whose origins were as a Victorian Canadian firm). 381 Interesting examples of traditional Canadian note design include the Canadian Bank of Commerce $20 alle- gorical classic of 1935, with King Neptune (with trident), Mercury, and sea maidens (above); the Dominion of Canada $5 legal tender "train note" of 1912 (detail at left); and the Bank of Montreal $50 depicting senior bank officers of 1931. November/December 2002 • Whole No. 222 • PAPER MONEY382 Research Exchange: a service for SPMC members • 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, 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 or John Glynn, 41 St. Agnells Lane, Hemel Hempstead, Herts HP2 7ax, England • 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 or C. John Ferreri, PO Box 33, Storrs, CT 06268 SPMC Librarian's Notes By Bob Schreiner, librarian Books about paper money help us more intelligently develop our collections, add historical perspective to the artifacts, and provide the opportunity to explore and enjoy our hobby more fully. While a few collect books as avidly as we do currency, for most collectors, devel- opment of an extensive personal library is a financial challenge. Some books only skirt our collecting inter- ests, and while they do not compel ownership, they do invite us to examine and read them. The SPMC lending library offers members an inex- pensive means to supplement their personal libraries. This service has been dormant in recent years, but it's rising again, and we want it to be a valued benefit of SPMC membership. As librarian, I'm buying new books and other materials for your use. I invite you to suggest materials for the library. What kinds of materials might we acquire? I can think of several: Standard general paper money refer- ence works; specialized monographs, such as the SPMC Wismer Project series; history of paper money and its economics, including bank histories; auction catalogs; and books on paper money technologies, such as print- ing. Can you think of others? The library will lend items by mail. The borrower pays for insured postage both ways, but there are no fees. Library loans are only for members. Let me know what books you want and any other ideas for the library. Please write me at POB 2331, Chapel Hill, NC 27515- 2331, or email . Watch the SPMC web page, , for a link to the library and its catalog. The Editor's Notebook Fred L Reed RI In Praise of the Leftover When I was a youngster dining at my parents' table, one of my favorite meals was "leftovers." You are probably familiar with this repast, too. Morn would put on a smorgas- bord of meat loaf, spaghetti and meat balls, green beans, mashed potatoes, and other morsels from past dinners. One could pick and choose, and I still am addicted to cafeterias. Mom's leftovers were not second rate in any way. Often I'd request cold turkey or pizza not be reheated; it was better that way. And everybody has favorites that age splendidly. My mother's sauerbraten or microwaved day old doughnuts are mine. Some times mom would make one or two sides especially for the leftover meal to spice things up. I regard the last Paper Money issue of the year (November/December) as an opportunity to experiment -- stretch the envelope, so to speak. Last year, we offered a topical issue on "short snorters," autographed currency tied to specific events and people who shared moments in history. Admittedly it was a stretch. Believe me, the first time I pro- posed such an issue to a number of SPMC members, the only person who thought it was a good idea was Neil Shafer. But then when Neil thinks something is worthwhile, it must be, and the issue proved to be an interesting experiment. This issue is something of an experiment too. At first glance if might seem like a regular "balanced" issue with a variety of articles in several areas. Of course, it is that. But it is more, and I'm willing to admit -- no even brag -- that it is also an issue built on a foundation of "leftovers." The Pete Huntoon article is "left over" from the National Currency Special Issue (March/April 2002). The George Tremmel article remains from those contributed for the Confederate Currency Special Issue (May/June 2002), and the Harold Don Allen piece actually made it to the printer for the 2nd International Special Issue, but was substituted for just prior to the issue going to press. You may have wondered why the new Canadian $5 bill was on the cover of that the issue too! All of these are excellent articles, and surely that excel- lence attests to the quality and quantity of material you have contributed to make these special issues really "special." YOUR participation -- and that of our many quality adver- tisers -- is making the concept work. This time, there's a couple of new pieces too, and a great variety of Society news items in the issue just to spice things up like mom used to do. So if you are working on a "special" article in your area of collecting interest, send it in. Every issue of Paper Money is special whether it's an 80-page topical issue or a "regular" 48-page balanced issue! Last is not least. I'm sure you'll agree, even our "left overs" are first rate. Just like mom's. + • -'011•Pr - no am :11•E 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 I 14—PCDA—LM ANA Since 1976 - IL .07 4';‘■ ,.....,- , 4C1. "',1123" — • - - raTlawanectmr,mx02- i; triiiiiiitii4:jisirdviii - 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: AD INDEX AMERICAN SOCIETY CHECK COLLECTORS ..375 BART, FREDERICK J 379 BENICE, RON 345 BOWERS & MERENA GALLERIES IBC BOWERS, Q. DAVID 363 BOWERS, Q. DAVID 373 BUCKMAN, N.B. 373 COHEN, BERTRAM 374 COLLECTIBLES INSURANCE AGENCY 368 CURRENCY AUCTIONS OF AMERICA 384 DENLY'S OF BOSTON 345 EARLY AMERICAN NUMISMATICS 361 HARRIS, GORDON 375 HOLLANDER, DAVID 359 HOOBER, RICHARD T 377 HORWEDEL, LOWELL C 373 HUNTOON, PETER 359 JONES, HARRY 383 KAGIN, A.M 369 KAGIN'S 375 KNIGHT, LYN 365 KRAUSE PUBLICATIONS OBC KYZ1VAT, TIM 379 LITT, WILLIAM 375 LITTLETON COIN CO. 355 MURPHY, CLAUD & JUDITH 375 OREGON PAPER MONEY EXCHANGE 377 PARRISH, CHARLES C. 383 POLIS, JAMES 379 POMEX, STEVE 383 ROB'S COINS & CURRENCY 373 RUBENSTEIN, J&F 359 SHULL, HUGH 338 SLUSZKIEWICZ, TOM 377 SMYTHE, R.M. IFC STACK'S. 367 WELCH, ROBERT F., AGENT 345 UNIVERSITY PRODUCTS 379 YOUNGERMAN, WILLIAM, INC . 361 Advertise in Paper Money It makes good cents PAPER MONEY • November/December 2002 • Whole No. 222 383 An unprecedeted opportunity for eiiirency Buyers and Sellers L CAA Upcoming Schedule: September 2001 - Cincinnati November 2001 - St. Louis - Charity Auction January 2002 - Orlando May 2002 - Rosemont Steve ivy Jim HaEenn Greg Ronan 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 • e-mail: • • e-mail: CURRENCY AUCTIONS OF AMERICA Len Glazer 1-800-872-667 Ext. 390 ( ) Allen Mincho 1-800-872-667 Ext. 327 ( ) merica's #1 Numismatic Auctioneer ITAGE Numismatic Auctions, Inc. PCO 11711 384 November/December 2002 • Whole No. 222 • PAPER MONEY 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 . 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 and . •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. J I ant interested in consigning my currency to one of your upcoming auctions, please contact me. J I would like a copy of your next Auction Catalog. Enclosed is a check or money order for $15, (or an invoice for $1,000 from another cur- rency company: Fax or Mail a copy to CAA). _I I would like a one-year subscription to all your Auction Catalogs. Enclosed is S50 for the year. dl I would like a FREE copy of your video "Your Guide to Selling Coins and Currency at Auction." a Fill in your e-mail address below for free, comprehensive e-listings, news, and special of fem. Name Gay, State. Zip Daytime Phone Evening Phone FOR FASTER SERVICE, Ca111-800-872-6467 CURRENCY AUCTIONS OF AMERICA Heritage Plaza. 100 Highland Park Village, 2nd Floor • Dallas, Texas 75205-2788 214-528-3500 • FAX: 214-443-842a • egnaiL Len Glazer. Ext. 390 (Len@lieritageCoin. um) Allen Nlincho, Ext. 327 ( ) SPRIG Trot B AT" 129BP11, Unique Territory of Dakota, National Bank Note, Serial #1, realized $55,200 3111■111111111111111t. REALIZE TOP MARKET PRICE FOR YOUR PAPER MONEY! Let Our Success be Your Success! Consign with Bowers and Merena Galleries Tbday. 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. Litt' 1016M Impressive $100 Treasury or Coin Note, . 5138,000 NS 101 /// „„ 60(f:Iii';'1,0147)(100460/4•S 101 ' MONTGOMERY. Choice IT 1861 Montgomery Issue $100, realized $25,300 /14-0-MPLAIAI#C 12e 4411,02=a4- r-1 IravAs zi'"V"zokaosTh''' 03 VW t (til fir'. 903 .441 WEEHAWKEN ,77- rI la, 0MINIM 4010111210113. .i7/÷6,,. 4uarataases 14.? "a • if-.9.t44/44e _ Its 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 Weehawken, New Jersey $5 National Bank Note Pa Serial #1, realized $15,525 rewarding decision you make. Buy Online, Bid line, Books Online! BOWERS AND MERENA GALLERIES A COLLECTORS UNIVERSE COMPANY—NASDAQ: CLCT Box 1224 • Wolfeboro, NH 03894 • 800-458-4646 • In NH 569-5095 • FAX 603-569-5319 • e-mail: PM0901 A Here's how to access the information. Bank Note Reporter • Numismatic News • World Coin News • Coins Krause Publications delivers your subscription online! Now you can access online the vital coin and paper money information you want. Read every issue right from your computer. You'll find: Now available free to all subscribers $ tor, coNeci Odd ir Oes ** B. 7:- ni2 c4°°' cow 8'" Z711 com,de aut • It's faster than mail - no postal delays! • Information is available online only 4 days after issue mails. • You get your mailed copy too. • You're among the first to check Display & Classified Ads. • Every issue of Coin Market is available to Numismatic News subscribers - the most accurate prices at your finger tips! • See every issue online and search every issue for the item you want. ,ey t w, old , re