Paper Money - Vol. XLII, No. 4 - Whole No. 226 - July - August 2003

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-4011- 64., ItIMM • Official Journal of the Society of Paper Money Collectors VOL. XLII, No. 4 JULY/AUGUST 2003 WWW.SPMC.ORG SPA4C TARGETING VOW? iNTERESTS ELL US WHAT You WANT TO SSURVEY ENCLO - r" Two NEW COLUMNS 43.I. vtrwrr. 1711M,_ 1"% Q. DAVID BOWERS & ON THIS DATE IN PAPER MONEY HISTORY ALSO: ESSAY CONTEST DETAILS INSIDE !!!! WHOLE No. 226 Our Outstanding Team of Experts Can Help You Get, the Most for Your Collection You've spent years putting together an outstanding collection, and now you are ready to sell. Will the people who handle the disposition of your collection know as much about it as you do? They will at Smythe! Autographs; Manuscripts; Photographs; International Stocks and Bonds. DIANA HER ZOG President, R.M. Smythe & Co., Inc. BA, University of London; MA, New York University— Institute of Fine Arts. Former Secretary, Bond and Share Society: Past President, Manuscript Society; Editorial Board, Financial History. Board Member: PADA. US. Federal & National Currency; 111 US. Fractional Currency; Small Size U.S. Currency; U.S. MPC. p MARTIN GENGERKE Author of U.S. Paper Money 40, Records and American Numi smatic Auctions as well as numerous articles in Paper Money Magazine, the Essay ProofJournal. Bank Note Reporter and Financial History. Winner of the only award bestowed by the Numismatic Literary Guild for excellence in cataloging, and the 1999 President's Medal from the American Numismatic Association. Member: ANA, SPMC. Small Size U.S. Currency; Canadian Banknote Issues; US. Coins. SCOTT LI NDQUIST BA, Minot State University, Business Administration/Management. Contributor to the Standard Guide to Small Size U.S. Paper Money & U.S. Paper Money Records. Professional Numismatist and sole proprietor of The Coin Cellar for 16 years. Life Member: ANA, CSNS. Member: PCDA, FCCB, SPMC. Antique Stocks and Bonds; U.S. Coins; Paper Money. STEPHEN GOLDSMITH Executive Vice President, R.M. Smythe & Co., Inc. BA, Brooklyn College. Contributor to Paper Money of the United States, Collecting U.S. Obsolete Current); Financial History, and Smart Money. Editor, An filuannid Catalogue of Early North American Advertising Notes; Past President and Board Member, Professional Currency Dealers Association. Member: PCDA, ANA, SPMC, IBSS, New England Appraisers Association. Ancient Coins and Medals. JOHN LAVENDER BA, University of Georgia, Classical History. Former Managing Director at Atlantis, Ltd. Former Numismatist and Web Media Manager at Classical Numismatic Group, Inc. Specialist in Ancient Coinages and related Numismatic Literature. Owner, NUM__LIT-L and Mon Member: ANA, ANS. Ancient Coins and Medals. DAVID VAG I BA, University of Missouri—Columbia. Author of Coinage and History of the Roman Empire; columnist for The Celator; Numismatic News, and World Coin News. AN Editor of the Journal for the Society for Ancient Numismatics; twice received the Numismatic Literary Guild's "Best Column" award. A recipient of the American Numismatic Association's Heath Literary Award and the Presidential Award. Member: ANA, ANS. We buy, sell, and auction the very best in Antique Stocks and Bonds, Autographs, Banknotes, Coins, Historic Americana, and Vintage Photography 26 Broadway, Suite 973, New York, NY 10004-1703 : 212-943-1880 10L1 FRFF: 800-622-1880 FAX: 212-908-4670 E-MAIL: INTERNET: Vollho'rp772 ,, Stephen Gcddsmich Scott Lind quisE U.S. Coins and Medals. JAY ERLICHMAN Contributor to A Guide Book of US. Coins and A Guide Book of British Coins. Assembled and managed investment portfolios of U.S. coins. Employed by the Federal Trade Commission as an expert witness on consumer fraud. Member: ANA, PCGS, NGC. Why do so many collectors and major dealers consign to Smythe's Auctions? • Competitive commission rates • Cash advances available • Expert staff of numismatic specialists • Thoroughly researched • Flexible terms and beautifully illustrated • Record breaking prices catalogues ONO iwu , If s I cl2 SOCIETY OF PAPER MONEY COLLECTORS INC. Paper Money Official Bimonthly Publication of SPMC, Inc. FRED L. REED HI, Editor, 5030 North May Ave # 254, Oklahoma City, OK 73112 SPMC's elected leaders are VERY interested in serving our broad-based membership in the most effective and positive way. To improve our member services and provide more information and entertainment value for your hobby dollar, you can help us. Recently the SPMC Board introduced a new Society program called SPMC 6000 to enlarge the member-base and improve the level of service. To read more about SPMC 6000 see the Editor's column in the May/June issue of PAPER MONEY. There's more about SPMC 6000 in the current (July/August) issue of the magazine, too. This direct survey of the membership is also part of the SPMC 6000 program. You can help guide our delibera- tions and so "manage the managers." Please take 10 minutes to answer this survey and send it to the address above. Your "two cents worth" is very valuable to the future of SPMC. Note: The birth date question refers to the paper money calendar "This Date in Paper Money History" column which debuts in this issue. Check it out and answer if you care to. Every tenth response (drawn at random) will receive a small token of our appreciation for participating in this survey. If you wish to be considered put your name on the survey, otherwise you may remain anonymous. Thank you. (Name) (YR joined) (Birth Date/optional) (Al) How would you complete this statement: The frequency of SPMC's bimonthly magazine PAPER MONEY is too frequent about right not frequent enough (A2) I would recommend (indicate how many issues per year) (A3) In months when Paper Money is not issued, I would like to receive an SPMC newsletter if it were free, or I would be willing to pay extra for it and if so how much per year (B1) How would you complete this statement: The size (number of pages) of Paper Money is too small about right too large (B2)The ideal size for an issue of Paper Money would be pages per issue (C1) I spend approximately how many hours reading an average issue of Paper Money (C2) After I read my issue of Paper Money, I (don't usually read it) throw it away tear out articles I liked save issue for future reference pass along to another collector (D) How would you complete these statements: I have collected for years, and I have interest in articles/ads on: (rate 0-10, with 0 being no interest and 10 being most interested) news about auctions articles on investment news about the hobby related matters, i.e. shows, personalities, exhibits news about Society of Paper Money Collectors meetings opinion columns news and/or reviews of paper money related books articles on grading articles about U.S. currency (federal currency, national bank notes) show/convention calendar articles about U.S. currency (obsolete & Confederate currency) only things I personally collect articles about worldwide currency "how to" articles articles on banking articles on engraving articles on counterfeiting news on new products ads offering U.S. currency for sale by item classified advertising ads offering worldwide currency for sale by item ads offering products (E) I collect (indicate areas of greatest interest, again 0 to 10): Small Size U.S. Currency Large Size U.S. Currency Military Currency Fractional Currency Stock or Bond Certificates Engravings, proofs, etc. Foreign paper money (specify) Confederate/Obsolete Currency National Bank Notes Checks (other, specify) (F) Rate (0-10) average response to: President's Message: Editor's Notes: Librarian's Notes: Paper Column (Huntoon) Buck Starts Here (Hessler) About Texas Mostly (Clark) TERMS AND CONDITIONS PAPER MONEY is published every other month beginning in January by the Society of Paper Money Collectors (SPMC). Second-class postage is paid at Dover, DE 19901. Postmaster send address changes to Secretary Bob Cochran, P.O. Box 1085, Florissant, MO 63031 (0 Society of Paper Money Collectors, Inc., 2003. All rights reserved. Reproduction of any article, in whole or in part, without express written permis- sion, is prohibited. Individual copies of this issue of PAPER MONEY are available from the Secretary for $6 postpaid. Send changes of address, inquiries concerning non-delivery, and requests for additional copies of this issue to the Secretary. MANUSCRIPTS Manuscripts not under consideration elsewhere and publications for review should be sent to the Editor. Accepted manuscripts will be published as soon as possible; however, publication in a spe- cific issue cannot be guaranteed. Include an SASE for acknowledgment, if desired. Opinions expressed by authors do not necessarily reflect those of the SPMC. Manuscripts should be typed (one side of paper only), double-spaced with at least 1-inch margins. The author's name, address and telephone num- ber should appear on the first page. Authors should retain a copy for their records. Authors are encouraged to submit a copy on a 3 1/2-inch MAC disk, identified with the name and version of software used. A double-spaced printout must accompany the disk. Authors may also transmit articles via e-mail to the Editor at the SPMC web site ( Original illustrations are preferred. Scans should be grayscale at 300 dpi. Jpegs are preferred. Inquire about other formats. ADVERTISING • All advertising copy and correspondence should be sent to the Editor • All advertising is payable in advance To keep rates at a minimum, all advertising must be prepaid according to the schedule below. In exceptional cases where special artwork or addi- tional production is required, the advertiser will be notified and billed accordingly. Rates are not commissionable; proofs are not supplied. Advertising Deadline: Copy must be received by the Editor no later than the first day of the month preceding the cover date of the issue (for exam- ple, Feb. 1 for the March/April issue). With advance approval, camera-ready copy, or elec- tronic ads in Quark Express on a MAC zip disk or CD-Rom with fonts supplied, may be accepted up to 10 days later. ADVERTISING RATES Space 1 time 3 times 6 times Outside back cover $500 $1350 $2500 Inside cover 400 1100 2000 Full page 360 1000 1800 Half page 180 500 900 Quarter page 90 250 450 Eighth page 45 125 225 Requirements: Full, page, 42 x 57 picas; half-page may be either vertical or horizontal in format. Single-column width, 20 picas. Except covers, page position may be requested, but not guaran- teed. All screens should be 150 line or 300 dpi. Advertising copy shall be restricted to paper cur- rency, allied numismatic material, publications, and related accessories. The SPMC does not guar- antee advertisements, but accepts copy in good faith, reserving the right to reject objectionable material or edit copy. SPMC assumes no financial responsibility for typographical errors in ads, but agrees to reprint that portion of an ad in which a typographical error occurs upon prompt notification. PAPER MONEY • July/August 2003 • Whole No. 226 209 Paper Money Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XLII, No. 4 Whole No. 226 JULY/AUGUST 2003 ISSN 0031-1162 FRED L. REED III, Editor, P.O. Box 793941, Dallas, TX 75379 Visit the SPMC web site: IN THIS ISSUE FEATURES A Catalog of Known BEP Made Exposition Souvenir Handkerchiefs . . .211 By M.R. Friedberg MG James Birdseye McPherson Union General, Currency Subject . . . . 226 By Frank Clark Is a $2 Legal Tender 1928C Mule Star Note Possible? 232 By David Schlingman / Research Verified by Peter Huntoon My Favorite Notes and Why (Memories of an Old Collector) 234 By Steve Whitfield On This Date in Paper Money History 237, 239 By Fred Reed The Paper Column: Contender for Littlest Signature on a Large Size NBN .242 By Peter Huntoon About Texas Mostly: FNB of Ganado, Where Are the Notes Now? .. 244 By Frank Clark The Buck Starts Here: Notes Were Artistic Success But Bankers Panned Them .. 246 By Gene Hessler Interest Bearing Notes: Bank Signatures on NBNs 248 By Dave Bowers SOCIETY NEWS Information & Officers 210 M4 Paper Money Essay Contest 224 Husband-Wife team up to pen 'whale of a note book' 241 Talk Back 250 Money Mart 250 New Members 252 SPMC Librarian's Notes 254 By Bob Schreiner Editor's Notebook 254 SPMC Announces Mississippi Book Ready A complete revision of the Mississippi Obsolete Currency book has been completed by Guy Kraus and may be ordered. Cost of the book is $32 ppd. Shipment is planned for July, 2003. Only the number pre-ordered will be produced. To order, send a check for $32; payable to SPMC, to Mark Anderson, SPMC Treasurer at 335 Court St., Suite 149, Brooklyn, N.Y. 11231, no later than July 15, 2003. Orders will not be accepted after that date. SOCIETY OF PAPER MONEY COLLECTORS INC. 210 July/August 2003 • Whole No. 226 • PAPER MONEY Society of Paper Money Collectors The Society of Paper Money Collectors (SPMC) was orga- nized in 1961 and incorporated in 1964 as a non-profit organiza- tion under the laws of the District of Columbia. It is affiliat- ed with the American Numismatic Association. The annual SPMC meeting is held in June at the Memphis IPMS (International Paper Money Show). Up-to-date information about the SPMC and its activities can be found on its Internet web site . MEMBERSHIP—REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral character. Members of the ANA or other recognized numismatic societies are eligible for member- ship; other applicants should be sponsored by an SPMC member or provide suitable references. MEMBERSHIP—JUNIOR. Applicants for Junior membership must be from 12 to 18 years of age and of good moral character. Their application must be signed by a parent or guardian. Junior mem- bership numbers will be preceded by the letter "j," which will be removed upon notification to the Secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or vote. DUES—Annual dues are $30. Members in Canada and Mexico should add $5 to cover postage; members throughout the rest of the world add $10. Life membership — payable in installments within one year is $600, $700 for Canada and Mexico, and $800 elsewhere. The Society has dispensed with issuing annual mem- bership cards, but paid up members may obtain one from the Secretary for an SASE (self-addressed, stamped envelope). Members who join the Society prior to October 1 receive the magazines already issued in the year in which they join as avail- able. Members who join after October 1 will have their dues paid through December of the following year; they also receive, as a bonus, a copy of the magazine issued in November of the year in which they joined. Dues renewals appear in the Sept/Oct Paper Money. Checks should be sent to the Society Secretary. OFFICERS ELECTED OFFICERS: PRESIDENT Frank Clark, P.O. Box 117060, Carrollton, TX 75011-7060 VICE-PRESIDENT Wendell A. Wolka, P.O. Box 1211, Greenwood, IN 46142 SECRETARY Bob Cochran, P.O. Box 1085, Florissant, MO 63031 TREASURER Mark Anderson, 335 Court St., Suite 149, Brooklyn, NY 11231 BOARD OF GOVERNORS: Benny J. Bolin, 5510 Bolin Rd., Allen, TX 75002 Bob Cochran, P.O. Box 1085, Florissant, MO 63031 Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231 Ronald L. Horstman, 5010 Timber Ln., Gerald, MO 63037 Arri "AJ" Jacob, P.O. Box 1649, Minden, NV 89423-1649 Judith Murphy, P.O. Box 24056, Winston-Salem, NC 27114 Fred L. Reed III, P.O. Box 793941, Dallas, TX 75379-3941 Robert Schreiner, P.O. Box 2331, Chapel Hill, NC 27515- 2331 Steven K. Whitfield, 879 Stillwater Ct., Weston, FL 33327 APPOINTEES: EDITOR Fred L. Reed III, P.O. Box 793941, Dallas, TX 75379-3941 CONTRIBUTING EDITOR Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231 ADVERTISING MANAGER Wendell A. Wolka, P.O. Box 1211, Greenwood, IN 46142 LEGAL COUNSEL Robert J. Gal iette, 3 Teal Ln., Essex, CT 06426 LIBRARIAN Robert Schreiner, P.O. Box 2331, Chapel Hill, NC 27515-2331 MEMBERSHIP DIRECTOR Frank Clark, P.O. Box 117060, Carrollton, TX 75011-7060 PAST PRESIDENT Bob Cochran, P.O. Box 1085, Florissant, MO 63031 1929 NATIONALS PROJECT COORDINATOR David B. Hollander, 406 Viduta PI, Huntsville, AL 35801-1059 WISMER BOOK PROJECT COORDINATOR Steven K. Whitfield, 879 Stillwater Ct., Weston, FL 33327 BUYING AND SELLING CSA and Obsolete Notes CSA Bonds, Stocks & Financial Items 60-Page Catalog for $5.00 Refundable with Order ANA-LM SCNA PCDA CHARTER MBR HUGH SHULL P.O. Box 761, Camden, SC 29020 (803) 432-8500 FAX (803) 432-9958 SPMC LM 6 BRNA FUN PANAMA PACIFIC INTERNATIONAL EXPOSITION 1915 —...–.0mar.101, 4terrokelo -tzkl PAPER MONEY • July/August 2003 • Whole No. 226 211 A Catalog of Known BEP Made Exposition Souvenir Handkerchiefs By M.R. Friedberg Introduction n those good old days" of the past, a World's Exposition was a presti- gious event and while a statewide or regional exposition was perhaps not so awe inspiring, it was still a major social occasion. Expositions permit- ted people to actually see those things they had just read about or had only observed in drawings or pictures. Communications were a far cry from our television, radio, telephone, movies, inter- net and the constant flood of printed adver- tisements we have today. An exposition was the place you went to see those things you dreamed about or just plain needed, but nobody close to home had one to demon- strate. Major items of farm machinery, sewing machines, office equipment were introduced to the public and sold through these expositions and fairs. Embroidery machines for the home and factory were shown, also. A favorite souvenir of an exposition became ladies' handkerchiefs. These handkerchiefs were used as embroi- dery machinery demonstration devices. Such souvenir handkerchiefs had fancy embroidered designs and scalloped edges, perhaps an emblem of the exposition, or were personalized with an embroidered script name. Examples exist from exposi- tions of the 19th Century. Eventually, the U.S Bureau of Engraving and Printing also participated in these expositions, and it too produced attractive handkerchiefs with engravings imprinted such as were used on our currency. These BEP handkerchiefs paral- lel the souvenir cards the BEP also produced on these occasions, and are often collected together. These handkerchiefs demonstrate the intaglio equipment the Bureau brought to the expo, and the state of the engraving art. I have dis- played these BEP handkerchiefs at Memphis with good results, and at the urg- ing of previous journal Editor Gene Hessler decided to record what I know about these BEP items in print for all the membership of SPMC. I also seek to census known examples and provide a catalog for all collectors. This attractive Panama-Pacific International Exposition handkerchief (1915Aa.1) was printed by the BEP with vignettes of President Woodrow Wilson and his Vice President Thomas R. Marshall, a federal Eagle and the U.S. Capitol. Colorful flags of 50 nations trim the border as well as red/white/blue reproductions of the then current 48 star U.S. flag at the inside corners on Japanese silk. This 1893 copper plate engraving on a silk Japanese handker- chief pre-dates the introduction of BEP- produced intaglio printed exposition souvenirs. 212 July/August 2003 • Whole No. 226 • PAPER MONEY The BEP revived this art- form in 1994 produc- ing this souvenir of The Washington Antiques Show (1994?a.1). BEP Handkerchiefs Handkerchiefs are known from the expositions prior to those in which the BEP actively participated, however the existing printed handkerchief examples are either silk screened, litho- graphed or printed from copper plates. The copper plate engravings begin to approach the brilliant quality and sparkling presence of the Bureau of Engraving and \ Printing's intaglio engraved steel plate finished product. The 1893 World's Columbian Exposition produced quite a few of these copper plate engraving printed handker- chiefs, as well as woven fabrics embodying designs illustrating the abilities of their weaving machinery. Both the U.S. Mint and The Bureau of Engraving and Printing (BEP) participated in the 1893 World's Columbian Exposition, the 1897 Tennessee Centennial Exposition and the 1901 Pan- American Exposition. The BEP marked its presence at these expos by issuing souvenir cards printed on demonstration presses at their exhibit and distributed at the exhibit. The purpose of their exhibit was to demonstrate the superior quality of the intaglio engraving processes used by the Bureau, and / thus instill respect and credibility for currency they produced. Starting with the 1904 Louisiana Purchase Exposition (also popularly known as the St. Louis Fair), the BEP increased interest The Washington Antique, tin• u. Waghinsion, D.(' PAPER MONEY • July/August 2003 • Whole No. 226 213 in their exhibit by issuing handkerchiefs from the same engraved steel plates used to print souvenir cards. In some of the listed expositions, either souvenir cards or plates exist, but handkerchiefs have not yet been reported. A listing of the Expositions or Fairs where BEP handkerchiefs have been issued follows: • 1904 Louisiana Purchase Exposition - 2 vignettes, both reported • 1905 Lewis-Clark Exposition - 3 vignettes, all reported • 1907 Jamestown Tercen- tenary Exposition - 4 vignettes, all reported • 1909 Alaska- Yukon- Pacific Exposition - 4 vignettes, all reported • 1910 U.S. Land and Irrigation Exposition - 3 vignettes, 2 not reported • 1910 Ohio Valley Exposition - 4 vignettes, 2 not reported • 1911 Electrical Trades Exposition - 2 vignettes, 1 not reported • 1915 Panama-Pacific Exposition - 7 vignettes, 5 not reported • 1915 Panama-California Exposition - 3 vignettes, all reported • 1926 National Sesquicentennial Expo - 9 vignettes, 6 not reported. A census of the above reported handkerchiefs in the hands of all known collectors and institu- tions as of September 13, 1996, when I undertook the census amounts to 189 vintage BEP handkerchiefs reported in total. As BEP handkerchief collecting becomes bet- ter known, additional handkerchiefs will be report- ed, and hopefully more of the "not reported" items will become available for listing. In some of the list- ings, multiple vignettes are known on one handkerchief. Sometimes the multiples do include vignettes that have not been separately reported. The Bureau of Engraving and Printing did not actually sell the souvenir cards or handkerchiefs directly to the public, but instead left that activity in the hands of a concessionaire who also handled the products of the U.S. 1907 Jamestown Tercentennial Exposition souvenir (1907Aa.2 design #8) imprinted by the BEP on a commercial Japanese silk embroidered handkerchief. 1905 Lewis & Clark Centennial Exposition handker- chief (1905Bd.2 design #1) with multiple BEP vignettes imprinted on a com- mercial Japanese silk embroi- dered handkerchief. 214 July/August 2003 • Whole No. 226 • PAPER MONEY 1905 Lewis & Clark Centennial Exposition souvenir (1905Ba.2a design #16) imprinted with a single BEP vignette on a commercial Japanese silk embroidered hand- kerchief. 1909 Alaska- Yukon-Pacific Exposition souvenir (1909Ad.5 design #4), with BEP intaglio imprint on a commercial Japanese silk embroidered handkerchief. Mint. The concessionaire supplied the handkerchiefs to the Exhibition Plate Printer. The printing press, plates and printing supplies were supplied directly from the Washington Bureau. The printer was a Washington BEP employee sent to man the exhibit. The hand- kerchiefs were imports from Japan, and many of them were standard men's plain hemmed silk of varying sizes. The balance are ladies' fancy embroidered handkerchiefs with scalloped edges. The ladies' handkerchiefs are of varying designs and colors, but they occasion- ally are found with identically embroidered handkerchiefs from different expositions. Fifty-eight different embroidery designs have been discovered. The embroi- dery is all machine applied and runs the gamut from a simple floral design to impressive arrays of birds and flowers. A prized find is the envelope in which the hand- kerchief was originally packaged, since it gives the name of the con- cessionaire from whom the item was purchased. In 1994, the BEP was asked to partici- pate in the Washington Antiques Show. The Bureau responded by producing a silk handker- chief with a vignette of an Eagle attractively mounted for future framing. The handkerchief was priced at $50, and the entire quantity of 1,000 was sold. This is the only known situation where no similar souvenir card was o. produced. Notes: All numbers in the census are subject to change with new discoveries! Souvenir Card Collectors Society (SCCS) numbers are the equivalent souvenir card or vignette. All handkerchiefs were printed from intaglio engraved plates using black ink unless otherwise specified. "Unreported" is used to indicate that a handker- chief probably will be found to match existing sou- venir card. It is believed that we will eventually find handkerchiefs matching all standard souvenir cards issued by the BEP for each of the Expositions at which the BEP exhibited. It is also believed that plain hemmed edge men's handkerchiefs will be found for each listing. The author is particularly interested in hearing from those who may have an example of the BEP print- ed handkerchiefs so that we may add the information to our data. 4911LIMEWILIMIENIIE11071rIlaTCOMPAMAC--= PAPER MONEY • July/August 2003 • 215 eh, lituidarrhtef in'this envelope was printed on the press of the initttl ferrlafito Inman of frignwing titar Piloting in operation in the ilttittit Otatra mut StriThing. Louisiana Purchase Exposition, St. Louis, 1904. • t, !IAA. Pi Ilitt atll' 1 ?P411 4 1T111- - 1904 Louisiana Purchase Exposition handkerchief (1904Aa.8 design #13) with BEP printed vignette on commercial silk embroidered handkerchief. Imprinted envelopes in which the BEP-pro- duced silk handkerchiefs were originally packaged provide useful information on these souvenirs. Shown are details of envelopes for 1904Aa7 design 31 (above), 1905Bd.5 design 41 (below). Ube ,o'itatanilltal on the tanDkercblef contained in this envelope wereprint&l, to demonstrate the process ttsed in making paper earrraey, on the press of the tiniteb States Eaten of Engraving anb printing in operation in the Unita) States Ciovernment Lewis and Clark Centennial Exposition, Portland, Oregon, 1905. (Duplicates can be obtained by mail by addressing L. B. RYCHARDS, U. S. Gov't. Balding) Your collection will not be complete without the newest Banknotable collectibles! Our unique collectibles combine artistry, craftsmanship, the latest security paper technology and hidden facts and figures...all combined into exquisitely engraved bank notes rivaling the currencies of the world's leading nations. Each of our notes is issued as a limited edition and is guaranteed to be 99.28% counterfeit proof—assuring their authenticity. These unique notes look and feel like real money, and each comes with its own Certificate of Authenticity. If you are serious about your paper note collection, you owe it to yourself to visit our website to find out more about these hot new collectibles as they gain worldwide popularity. TM 216 July/August 2003 • Whole No. 226 • PAPER MONEY A Catalog of BEP-produced Intaglio Expo Handkerchiefs By M.R. Friedberg Variant Size Material Hem Embroidery Holes? # Known Louisiana Purchase Exposition of 1904, also known as the St. Louis Fair 1 904Aa Vignette of President T.R. Roosevelt surmounting a box with "Louisiana Purchase Exposition / St. Louis, Missouri, USA / April 30 to December 1, 1904." Small Federal Eagle below title block. SCCS #FB 1904Aa Vignette: T. R. Roosevelt 1 11 x 12 Silk Plain, 1/2" None No 4 2 11 1/2 x 11 7/8 Silk Plain, 1/2" None No 1 3 10 x101/2 Silk Plain, 1/2" #2 Rose edge No 1 4 9 5/8 square Silk Scalloped #3 Purple edge No 1 5 10 x101/2 Silk Scalloped #10 White edge Yes 1 6 10 x 101/2 Silk Scalloped #17 White edge Yes 1 6a 11 x 11 1/2 Silk Scalloped #17 Rose edge Yes 1 7 10 x 101/2 Silk Scalloped #31 Rose edge Yes 3 8 10 x 10 Silk Scalloped #13 Gold edge No 1 9 10 x10 Silk Scalloped #22 Rose edge No 1 10 10 1/4 x 10 3/4 Silk Scalloped #20 Rose/lavender edge Yes 3 11 11 x 11 1/2 Silk Scalloped #38 Ecru edge No 1 12 12 x 12 Silk Scalloped #43 Ecru edge Yes 1 13 9 x 9 3/4 Silk Scalloped #48 Rose edge No 1 1 904Ab Vignette is "Hatch Eagle" with "E Pluribus Unum" above. Box with "Louisiana Purchase Exposition / St. Louis, Missouri, USA / April 30 to December 1, 1904." Small Federal Eagle below title block. SCCS #FB1904Ab Vignette: Eagle 1 10 x 101/4 Silk Scalloped #12 White edge No 2 2 10 x 10 Silk Scalloped #13 Rose edge No 1 2a 10 x 10 1/2 Silk Scalloped #47 Rose edge No 1 3 10 x 10 Silk Scalloped #2 Maroon edge No 1 4 9 5/8 x 10 1/2 Silk Scalloped #18 Blue-green edge Dbl row 1 5 12 x 12 Silk Scalloped #23 White edge No 1 6 11 1/2 x 12 Silk Scalloped #25 White edge No 1 7 11 1/2 x 12 1/2 Silk Plain, 1/2" None No 3 8 10 x 10 Silk Scalloped #54 Rose edge No 1 Vignette is "Hatch Eagle" with "E Pluribus Unum" above. Box with attributing legend and Federal Eagle not present in the fol- lowing items. SCCS #FB 1904Ab Vignette: Eagle 9 11 1/2 x 11 1/2 Silk Plain, 1/2" None No 2 10 12 x 13 Silk Scalloped #9 Tan/white edge No 1 11 9 3/4 x 10 1/2 Silk Scalloped #31 Rose edge Yes 1 12 12 x 12 Silk #27 Lace None No 1 Note: Eagles without identifying legends are listed above, but could originate at other expositions. Lewis-Clark Exposition of 1905 1905 Ba Vignettes of Lewis and Clark in elaborate frames set into a central design. In the center is a small Federal Eagle. Text in rib- bons "Lewis," "Clark," "1805," "1905," over "Centennial Exposition / Portland, Oregon / June 1, 1905." SCCS #FB 1905Ba Vignette: Lewis & Clark 1 10 3/4 x 11 3/4 Silk Plain, 1/2" None No 2 2 10" square Silk Scalloped #16 Rose edge Yes 1 2a 9 3/4 x 10 1/2 Silk Scalloped #16 Blue edge Yes 1 2b 10" square Silk Scalloped #42 Blue edge No 1 3 8" square Silk Scalloped #30 Pink edge No 1 4 8 1/2 x 9 Silk Scalloped #34 Maroon edge No 1 5 12 x 13 Silk Scalloped #39 Lt. green edge No 1 PAPER MONEY • July/August 2003 • Whole No. 226 217 Variant Size Material Hem Embroidery Holes? # Known 6 10 1/2 x 9 1/2 Silk Scalloped #44 Ecru edge Yes 1 7 13 x 12 1/2 Silk Scalloped #45 Ecru edge Yes 1 8 10 1/2" square Silk Scalloped #20 Maroon edge No 1 9 10 x 11 Silk Scalloped #57 Yellow edge No 1 note: badly faded image 1905Bb Vignette is "Hatch Eagle" with "E Pluribus Unum" above and Federal Eagle below with the text "Lewis and Clark / Centennial Exposition / Portland, Oregon / June 1, 1905." SCCS #FB 1905Bb Vignette: Eagle 1 12 x 13 Silk Scalloped #26 Pink edge No 1 Vignette is "Hatch Eagle" with "E Pluribus Unum" aobe. No other legend. SCCS #FB1905Bb Vignette: Eagle 2 3 5/8 x 14 1/2 Silk Banner ribbon Ends fringed No 1 1905 Bc Vignette is President T. R. Roosevelt looking to his right with a dark vertical swirl in the background. To the lower left is the small Federal Eagle with the text "Lewis and Clark / Centennial Exposition / Portland, Oregon / June 1, 1905." SCCS #FB 1905BC Vignette: T R. Roosevelt 1 11 x 11 3/4 Silk Plain, 1/2" None No 4 2 11 x 11 Silk Scalloped #21 Rose edge No 1 1905Bd Multiple images combine the "Hatch Eagle" with the Lewis and Clark portraits. SCCS FB #1905Ba + #1905Bb. Vignettes: Lewis & Clark and Eagle 1 11 x 11 3/4 Silk Plain None No 6 1a 22 x 23 Silk Plain, 2" None Yes @ hem 1 2 13 1/4 x 12 Silk Scalloped #1 White edge No 3 2a 11 x 11 1/2 Silk Scalloped #1 White edge No 1 Faded 3 13 1/4 x 12 Silk Scalloped #33 White edge Yes 1 4 13 1/4 x 12 Silk Scalloped #40 White edge No 1 5 11 x 11 3/4 Silk Scalloped #41 Rose edge No 1 * Accompanied by original envelope from BEP 6 12 3/4" square Silk Scalloped #56 Pink edge No 1 Jamestown Tercentenary Exposition of 1907 1907Aa Vignette of Captain John Smith with "Jamestown / Tercentennial Exposition" above and "Hampton Roads / 1607-1907" Below. In lower left corner is a small vignette of his vessel. SCCS #FB 1907Aa Vignette: Capt. John Smith 1 11 x 11 1/2 Silk Plain, 1/2" None No 2 la 10 3/4 x 11 3/4 Silk Plain, 1/2" Holes by stitching 1 2 10 1/2 x 11 Silk Scalloped #8 Magenta edge Yes 3 3 10 1/2 x 11 Silk Scalloped #5 Rose edge Yes 2 4 10 1/2 x 11 1/2 Silk Scalloped #5A Blue edge Yes 1 5 9 1/2 x 11 Silk Scalloped #6 Red edge Yes 1 1907Ab Vignette is "Hatch Eagle" with text "Jamestown / Tercentennial Exposition." SCCS #FB 1907Ab Vignette: Eagle 1 11 x 11 3/4 Silk Plain, 1/2" None No 3 2 10 x12 Silk Scalloped #14 White edge No 1 3 9 3/4 x 10 Silk Scalloped #6A Rose edge Yes 1 1907Ac Vignette is U.S.S. Virginia. Centered below is text "U.S.S. Virginia." In lower left is text "Jamestown / Tercentennial Exposition." SCCS # FB 1907Ac Vignette: U.S.S. Virginia 1 11 x 11 3/4 Silk Plain, 1/2" None No 2 2 11 x 11 Silk Scalloped #8 Pink edge Yes 1 218 July/August 2003 • Whole No. 226 • PAPER MONEY Variant Size Material Hem Embroidery Holes? # Known 1 907Ad Vignette is President T.R. Roosevelt facing left with a dark vertical swirl in the background. Small letters below and left state "Jamestown Tercentennial Exposition." SCCS # FB 1907Ad Vignette T.R. Roosevelt 1 11 3/4 x 10 3/4 Silk Plain, 1/2" None No 1 la 11 3/4 x 11 Silk Plain, 1/2" None No 1 2 11 1/4 x 11 Silk Scalloped #8 Blue edge Yes 1 2a 10 3/4 x 11 1/2 Silk Scalloped #8 Lilac edge Yes 1 1 907Ae Multiple images combining the complete vignettes of Capt. Smith and U.S.S. Virginia handkerchiefs. SCCS # FB 1907Aa + FB 1907Ac Vignettes: Capt. Smith and Battleship 1 21 1/2 x 23 Silk "Plain, 1 1/4"" None No 1 1 907Af Multiple images combining the complete vignettes of Capt. Smith and Eagle handkerchiefs. SCCS # FB 1907Aa + FB 1907Ab Vignettes: Capt. Smith and Eagle 1 12 1/2" square Silke Plain, 1/2" #28 No 1 Alaska-Yukon-Pacific Exposition of 1909 1 909Aa Intertwined oval portrais of President Taft and Vice President Sherman above an elaborate scrollwork. Centered between and slightly above is a small Eagle. Below the scrollwork is the text "Alaska-Yukon-Pacific / Exposition / 1909." SCCS # FB 1909Aa Vignettes: Taft and Sherman 1 10 1/2 x 7 1/4 Silk Plain, 1/2" None No 1 2 11 1/2" square" Silk Scalloped #52 Ecru No 2 note: Badly faded 1 909Ab Vignette is "Hatch Eagle" with text "Alaska-Yukon-Pacific / Exposition / 1909." SCCS # FB 1909Ab Vignette Eagle 1 7 1/2 x 11 Silk Plain Stitched No 1 note: the Eagle is positioned horizontally and parallel to the 11" dimension 2 10 x 10 1/2 Silk Scalloped #7 Ecru Yes 1 note: the Eagle is positioned diagonally as usually seen 1 909Ac Large vignette of U.S.S. Nebraska under full steam. In lower left is text "Alaska-Yukon-Pacific / Exposition / 1909." SCCS # FB 1909Ac Vignette: U.S.S. Nebraska 1 11" square Silk Plain, 1/2" None No 2 1 909Ad Complex vignette consists of Mountain in top left and a City to the right with a Globe circle containing two figures and encir- cled by legend "Alaska Pacific Yukon Exposition Seattle 1909." Below central logo is a large Eagle and below the Eagle is the legend "Alaska-Yukon-Pacific" in a folded ribbon with "Exposition / 1909" below. To the left of the Eagle is an Indian in a kayak and to the right is an Indian sitting in front of two large buildings. SCCS # FB1909Ad 1* 11 x 11 1/2 Silk Plain, 1/2" None No 12 * the most common handkerchief with dealers reporting an estimated 20 additional known 1a 11 x 11 1/2 Silk Plain, 1/2" Design #11A No 1 2** 7 1/2 x 11 White silk ribbon Raw vertical edges No 2 3** 6 3/8 x 11 1/2 Blue-green silk ribbon Raw vertical edges No 1 ** the design is positioned horizontally and parallel to the 11" dimension 4 9 1/2 x 10 Silk Scalloped #4 Ornate No 2 5 10 x 101/2 Silk Scalloped #4 Rose edge No 1 6 10 1/2 x 10 Silk Scalloped #7 White edge Yes 1 7 11 x 11 1/2 Silk Scalloped, Dbl #15 White edge No 2 8 11 7/8" square" Silk Scalloped, Dbl #15 White edge No 1 PAPER MONEY • July/August 2003 • Whole No. 226 219 * * * * * * * * * * * * * * * * * * * * * * * * * * NUMISMANIA RARE COINS P.O. BOX 847 -- Flemington, NJ 08822 Office: (908) 782-1635 Fax: (908) 782-6235 Jess Lipka, Proprietor NOBODY PAYS MORE TROPHY NATIONALS Buying All 50 States, Territorials, Entire State and Regional Collections, Red Seals, Brown Backs, Statistical Rarities, New Jersey. Also Buying Coin Collections and Type NO DEAL TOO LARGE!* * * * * * * * * * * * * * * * * * * * * * * * * 220 Variant 9 10 11 12 13 Size Material 11 3/4" square" Silk mounted in a serving tra Y. 11 1/2 x 11 1/4 Silk 101/2 x 11 Silk 11 x 11 1/2 Silk 11 1/2 x 11 1/2 Silk Hem Embroidery Holes? # Known Scalloped #19 Beige edge No 1 Came from Alaska Scalloped, Dbl #36 White edge No Scalloped #46 Pink edge Yes Scalloped #53 Beige edge No Scalloped #55 White edge No July/August 2003 • Whole No. 226 • PAPER MONEY 1909Ae Multiple images combining complete vignettes of the U.S.S. Nebraska and the Alaska-Yukon-Pacific theme handkerchiefs. SCCS # FB 1901 Ac + FB 1909Ad Vignettes: U.S.S. Nebraska and Theme 1 11" square Silk Plain None Yes 1 Multiple images combining complete vignettes of the Eagle and Theme handkerchiefs. SCCS # FB 1909Ab + FB 1909Ad 2 19 1/2 x 21 Silk Scalloped None No 2 3 11 1/2 x 12 Silk Scalloped #58 Ecru edge No 1 U.S. Land and Irrigation Exposition of 1910 1910Aa Vignette is "Hatch Eagle" with text "U.S. Land and Irrigation Exposition / Chicago / 1910." SCCS # FB 10Aa Vignette: Eagle 1 15 1/2" square Silk Plain, 3/4" None No 1 1910Ab Large vignette is "U.S.S. Georgia Under Full Steam" 1 Unreported 1910Ac Vignettes are intertwined oval portraits of President Taft and Vice President Sherman above an elaborate scrollwork. Centered between and slightly above is small Eagle. 1 Unreported Ohio Valley Exposition of 1910, Cincinnati, Ohio 1910Ba Vignette is President T.R. Roosevelt facing his left with a dark vertical swirl in the background. Small letters below and to the left state "The Ohio Valley Exposition / Cincinnati / 1910." SCCS # FB 1907Ad Vignette T.R. Roosevelt 1 12 x 11 1/2 Silk Small scallops White edge No 1 2 11" square Silk Scalloped #8 White edge Yes 1 note: Embroidery and scalloped edging are white. No colors! 1910Bb Vignette is "Hatch Eagle" with the legend "The Ohio Valley Exposition / Cincinnati / 1910." SCCS # FB 1907Ab Vignette Eagle 1 12" square Silk Scalloped #32 Ecru edge No 1 1910Bc Large Vignette of "U.S.S. Georgia Under Full Steam." 1 Unreported 1910Bd Vignettes are intertwined oval portraits of President Taft and Vice President Sherman above an elaborate scrollwork. Centered between and slightly above is a small Eagle. 1 Unreported PAPER MONEY • July/August 2003 • Whole No. 226 221 Variant Size Material Hem Embroidery Holes? # Known Electrical Trades Exposition of 1911 1911Aa Large vignette of "U.S.S. Rhode Island Under Full Steam" with no other identification. Vignette U.S.S. Rhode Island 1 18 1/2 x 17 3/4 Silk Plain, 1/2" Printed lollipops No 1 1911Ab Vignette is "Hatch Eagle." SCCS # FB 1907Ab Vignette Eagle Unreported Panama-Pacific Exposition of 1915 1915Aa Centered is a vignette of President Wilson and Vice President Marshall with a Great Seal above and the Capitol below. Centered below is the text "Panama-Pacific / International Exposition / .1915." Border of handkerchief is reproduction of the flags of 50 countries. The flags are reproduced in their natural colors. At each inside corner is a red/white/blue U.S. flag. SCCS # FB 1915Aa Vignettes Wilson and Great Seal 1 15 1/2" square Silk Plain, 2mm None No 1 1915Ab Vignette is the Library of Congress. Unreported 1915Ac Vignette is the White House. 1 Unreported 1915Ad Vignette is the Treasury Department. 1 Unreported 1915Ae Vignette is the "Hatch Eagle" with the text "E Pluribus Unum." SCCS # FB 1905Bb 1 Unreported 1915Af Vignette is the Capitol. 1 Unreported 1915Ag Vignette is a Dreadnought Battleship like SCCS # FB 1907Ac except titled "U.S.S. Nebraska" 1 15 1/2 x 15 Silk Plain, 1" None No 1 1915Ah Multiple vignettes. In top center is a small vignette of the White House. Center left is the U.S. Capitol. Center right is the Library of Congress. Centered is the "Hatch Eagle." Below is "Panama-Pacific / International Exposition / 1915." SCCS #FB 1915Ab. Multiple vignettes 1 18 1/2" square Silk Plain, 1" None No 1 Panama-California Exposition of 1915 1915Ca Central vignette U.S.S. San Diego Under Full Steam in black ink. Text beneath reads "U.S.S. San Diego / Panama-California Exposition / January 1 to December 31, 1915." Border is reproduction of the flags of 50 countries reproduced in their natural colors. The flag of the U.S appears inside the border in each corner. SCCS # FB 1915Cc Vignette U.S.S. San Diego 222 July/August 2003 • Whole No. 226 • PAPER MONEY Variant Size Material Hem Embroidery Holes? # Known 1 15 x 16 Silk Plain, 1/2" None No 1 2 11 x 11 1/2 Silk Plain, 1/2" None No 2 3 11 1/2" square Silk Plain, 1/2" None Yes 1 note: variant has row of holes at hem stitches 4 11 1/2" square Silk Scalloped #49 Ecru edge No 1 1915Cb Vignette is the Capitol with text "Panama California Exposition / 1915." SCCS # FB 1915Cb Vignette Capitol 1 11 1/2" square Silk Plain, 1/2" None No 1 1915Cc Vignette is the "Hatch Eagle" with text Panama California Exposition / 1915." SCCS # FB 1915Cc 1 10 1/2" square Silk Plain, 1/2" None No 2 2 12" square Silk Scalloped #29 Beige edge No 1 1915Cd Multiple vignettes of the U.S.S. San Diego and the "Hatch Eagle." SCCS # FB 1915Ca + FB 1915Cc Vignettes U.S.S. San Diego and Eagle 1 17" squareSilk Plain, 1/2" None No 1 Hem is lavender and there are two double lines forming an inner square 1" smaller than hem. 2 16 1/2'square Silk Plain, 1" #51 Facing flags No 1 Silk is beige and hem appears darker because of doubling. 1915Ce Multiple vignettes of the Capitol and the "Hatch Eagle." SCCS # FB 1915Ca + FB 1915Cb Vignettes Capitol and Eagle 1 13" square Silk Scalloped #50 Ecru edge No 1 St. Louis Industrial Exposition of 1919 1919Aa Vignette is "Hatch Eagle" with text "E Pluribus Unum" above. No other legend. Absolutely no printed indication of the expo- sition on the handkerchief, which had exposition advertising poster stamp affixed when purchased. It is possible that handker- chief is actually 1904Ab.7 from Louisiana Purchase Exposition. SCCS # FB 1904Ab Vignette Eagle 1 10" square Silk Plain, 1/4" #11 No 1 note: Has pink flower on silver stem in one corner directly below Eagle U.S. National Sesquicentennial Exposition of 1926, Philadelphia 1926Aa Vignette is Liberty Bell positioned in lower corner with "Bureau of Engraving and Printing" in tiny letters just below vignette. SCCS # FB 1926Aa Vignette Liberty Bell 1a 10 x 10 1/2 Pink Silk Plain, 1/2" None No 2 1b 9 1/2 x 10 1/2 Pink Silk Plain, 1/4" None No 1 lc 9 1/2"" square Yellow Silk Plain, 1/4" None No 1 1 d 17" square Tan Silk Dark brown, 1/2" None Yes 1 le 20" square Cream Silk Plain, 1/2" None Yes 2 if 9" square Salmon Silk Scalloped #37 White edge No 1 1926Aa Same as above, plus the additional lettering "National / Sesquicentennial Exposition" above the Bell in larger letters and "Philadelphia / 1776 - 1926" under the Bell. SCCS # FB 1926Aa Vignette Liberty Bell 2a 10 3/4" square White Silk Plain, 1/2" None No 1 2b 9 1/4" square Green Silk Lace, 1 1/8" #24 White lace No 1 1926Ab Large vignette of Lincoln. 1 Unreported PAPER MONEY • July/August 2003 • Whole No. 226 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 CSA Currency and Bonds Price Guide "CSA Quotes" — A detailed valuation guide: $20 • Written by a collector building CSA cur- rency collection by variety. Also CSA bonds. • Useful for beginners as well as the most advanced collector. • Lists types, rare varieties, errors, in grades G-VG to CU and "Scudzy" to "Choice". Long time variety collector (30 years) .- U.S. Large Cents, Bust Halves, now CSA paper money and bonds. Member EAC, JRCS, SPMC. From long time Louisiana family Please send $20 to Pierre Fricke, P.O. Box 245, Rye, NY 10580 914-548.9815 ; eBay - "armynova" 223 ALEX PERAKIS COINS & CURRENCY WE HAVE TO BUY and are willing to pay substantially over green sheet bid for certain issues WE BUY IT ALL from VG to Superb Gem Specializing in: • United States Large a Small Type Notes •Large and Small Nationals • Obsoletes •Fractional Notes (a large selection) All Want Lists are cheerfully accepted and conscientiously pursued for the beginning, as well as the advanced collector. Krause Publications Customer Service Award Recipient 115 consecutive years) ALEX PERAKIS Member ANA, PCDA, SPMC, FCCB, CCCC P.O. Box 246 • Lima, PA 19031 Fax: (6101891-1466 Phones: (610) 565-1110 • (610) 627-1212 E-mail: In Arizona (5201544-7718 • Fax: (5201544-7779 224 July/August 2003 • Whole No. 226 • PAPER MONEY Variant Size Material Hem Embroidery Holes? # Known 1926Ac Large vignette of Washington. 1 Unreported 1926Ad Large vignette of T.R. Roosevelt. 1 Unreported 1926Ae Vignette is President Woodrow Wilson, 5" tall and 4" wide, with tiny lettering "Engraved and Printed Bureau of Engraving & Printing" located 1 1/4" below vignette. SCCS # FB 1926Ae Vignette Wilson 1 16" square Silk 1/2" Black hem None No 1 note: Black border would normally indicate mourning or memorial souvenir. However, vignette is much larger than vignette of 1924 memorial cards. 2 16 1/2 x 15 1/2 Silk 1/4" Plain hem None** No 1 note: Narrower border than 1 above. Also, no BEP imprint and vignette extends farther down Wilson's coat to include coat button. 1926Af Large vignette of Dreadnought Battleship. 1 Unreported 1926Ag Vignette is "Hatch Eagle" with "E Pluribus Unum" above like FB 1905Bb. 1 Unreported 1926Ah Large vignette of The Signing of the Declaration of Independence. 1 Unreported Total Known 189 The Washington Antiques Show of 1994 1994?a Vignette is an Eagle originally used on $5,000 U.S. Note Series 1878 with "America" engraved in foreground. Re-engraved in 1940 without "America." Title above vignette is "The Washington Antiques Show / Washington, D.C." Below the vignette is "1994" in 12 point type. Underneath is "Bureau of Engraving & Printing" in tiny type. Vignette and legend in teal ink. 1,000 printed and sold. 1 12" square Silk Rolled None No All I !lapel- money .3.11.09 LI, /4 I Topic: M4 Essay Contest "My Most Memorable Money" Tell us in 500 words or less what your most memorable paper money item is and why. A reproducible illustration of the item must accompany each entry. The winner will receive a prize I valued at $100 and be published in a future issue of the magazine. All runners-up will also be published in a future Paper Money issue and receive a special, limited edition printing from an original 1815 bank note plate engraved by mas- 1 ter artist Peter Maverick. All paid up SPMC members are eligible except ye olde Editor. You may enter as manytimes as you wish, but ALL entries must be received by August 15, 2003. Mail to 5030 North May Ave # 254 Oklahoma City, OK 73112. Entries become property of SPMC and none will be returned. L =I I= 1••• mil mil 1.1. i■ AIA!' j 4-- Milton Friedberg Martin Gengerke Wayne Liechty Mike Marchioni Mart Delger Gerald Hoffman Dr. Henry Scheuermann Frank Harris Dr. Wally Lee Phil DeRosa and other major collections offered confidentially When the very finest collections of Fractional Currency formed in the 1960s, 70s, and 80s were sold at public auction, Currency Auctions of America was chosen. No Exceptions! Len Glazer, at Ext. 390 Len @ Cu CAA Consignments Allen Mincho, at Ext. 327 CAA Consignments Call Today! 1-800-US COINS 1-800-872-6467 Kevin Foley, at Ext. 256 CAA Consignments Jason W. Bradford. at Ext. 280 CAA Consignments PAPER MONEY • July/August 2003 • Whole No. 226 225 2003/2004 CAA-HERITAGE Schedule: Cincinnati - September FUN - January '04 CURRENCY AUCTIONS OF AMERICA Heritage Plaza ■ 100 Highland Park Village ■ Dallas, Texas 75205-2788 • `rent in the enclosure WA S erected , v Engineers to nark the site wheat - - 11 McPherson was anted during %•lattta.. Joys 22 line from the Ca. It R. lac Cr. vanes ish Bate's dirt 'rtes. pitashiq he 41, 226 July/August 2003 • Whole No. 226 • PAPER MONEY MG James Birdseye McPherson Union General, Currency Subject By Frank Clark Y GREAT-GRANDMOTHER LIVED ON MCPHERSON Ave in Atlanta, Georgia. At a very early age, I was told that the street was named for a "Yankee" general, who was killed just down the street. In fact, there is mon- ument to this effect at the corner of McPherson Ave and Monument Ave. It reads: Death of McPherson "The monument in the enclo- sure was erected by U.S. Army Engineers to mark the site where Maj. Gen. James B. McPherson was killed during the Battle of Atlanta, July 22, 1864. McPherson rode S. from the Ga. R.R. when he heard firing in Sugar Cr. valley, where the rear attack by Waler's & Bates divs. fell upon Dodge's 16th A.C. After pausing to observe this part of the battle, he galloped toward the left of the 17th A.G. (Flat Shoals & Clenwood) on a road through the pines. At this point he was assailed by skirmishers of Cleburne's div. refusing to surrender he was shot while attempting to escape." McPherson was one of two Union Major Generals killed in the battle of Atlanta. Later, when I began to collect currency, I was sur- prised to learn that this same Union general's portrait is on the face of $2 Treasury (or Coin) Notes of 1890 and 1891. Maybe I was destined to collect currency all along. James Birdseye McPherson was born on November 14, 1828, at Clyde, Ohio. In 1853, he grad- uated from the United States Military Academy as a sec- ond lieutenant of engineers, and spent the next couple of years there as the assistant instructor of practical engineering. Next, he saw duty constructing the defenses for the harbor of New York City, and improv- ing the defenses of the Hudson River. His next post was in San Francisco constructing Fort Delaware and the defenses of Alcatraz Island. At the opening of the Civil War, he applied for Right: James Birdseye McPherson was engraved by Charles Burt Below: The monument built by U.S. Army engineers to mark the site where Major General James B. McPherson was killed on July 22, 1864. An his- toric plaque is in the foreground and a cannon barrel pointing skyward is in the background. 1,2%.1.1.01W.1.11, t•-• ?, PAPER MONEY • July/August 2003 • Whole No. 226 227 SI :101:irrxrarereenvemnf l 111 I S,1, enu-Ir I TMSTATT• ilvar: r.,rrsmUmmt,Tli NV I NITM711-7.71, .411111,11tED 1.1_1,04k1 a Atroallvive: Apra/rAntx NI1L. AM) :L1 E 00097585 TuRsork coLoxim. = CINQUANTE CENTIMES 21...h•■4 1035 'Elli31101■Pa ERE. 19 a .•01 ( 1720 ' - 101,1. 14 -‘474,4, 7 \ 019 't V National and World Paper Money Convention Thursday-Sunday, November 20-23, 2003 St. Louis Hilton Airport Hotel 10330 Natural Bridge Road, St. Louis, MO 63134 Rooms: $94 (Ask for rate code DDC) Call (314) 426-5500 • 75 Booth All Paper Money Bourse Area • Society Meetings • Bureau of Engraving and Printing Booth • BEP Souvenir Card Show Hours: • Educational Programs • Complimentary Airport Shuttle • Lyn Knight Auction Future Dates: 2004 November 18 -21 2005 November 17 -20 2006 November 16 - 19 Wednesday, November 19 2PM-6PM Saturday, November 22 (Professional Preview—$50 Registration Fee) Sunday, November 23 Thursday, November 20 Noon-6PM Friday, November 21 10AM-6PM 10AM-6PM 10AM-1PM ($5 Pass Valid Thursday-Sunday) Bourse Applications Kevin Foley • P.O. Box 573 • Milwaukee, WI 53201 • E-mail: • 414-421-3384 • Fax: 414-423-0343 228 July/August 2003 • Whole No. 226 • PAPER MONEY Above: Face and back of a $2 Treasury or Coin Note of 1891, Friedberg 356 with vignette of McPherson at right. Below: A postcard depicting a section of the Cyclorama painting that shows the fighting at the Hurt House. duty in the field and rose rapidly through the ranks. He served at the siege of Corinth, and at the siege and capture of Vicksburg. In March, 1864, he was made commander of the Army of the Tennessee, which was one of three armies under William T. Sherman's command. On May 7, 1864, the campaign for Atlanta began as Union troops left their winter quarters in northern Georgia and marched towards Atlanta less than one hundred miles to the south. On July 19th, McPherson's Army of the Tennessee was just east of Atlanta. On the 20th, it moved westward on Atlanta. The Battle of Atlanta The LONG AWAITED SECOND EDITION of United States Paper Money Errors: A Comprehensive Catalog & Price Guide by FREDERICK J. BART roreward by HARRY E. JONES Will be READY to SHIP in a COUPLE of WEEKS ...RESERVE YOUR COPY now published by KRAUSE PUBLICATIONS available from Krause Publications, their distributors, your supplier. or directly from the author Ehditaived= ..St- United States Paper Money Errors A Comprehensive Price Guide ph. j nji-PP: • COMPREHENSIVE INFORMATION on US PAPER MONEY ERRORS ranging from DOUBLE DENOMINATIONS to INK SMEARS • COMPLETELY RE-WRITTEN • UP-to-DATE PRICE GUIDE in THREE GRADES • 550 PHOTOGRAPHS lb w) of SMALL SIZE & LARGE SIZE ERRORS • 256 PAGES, 6" x 9". softbounci • HISTORICAL PHOTOGRAPHS • BEHIND-the-SCENES peeks at "INSIGHTS and INCIDENTS" • SUITED for both the ADVANCED COLLECTOR and the BEGINNER • DATA for the RESEARCHER, CATALOGUER, and DEALER ORDER FORM I wish to reserve-and am enclosing payment for-one copy of United Mates Paper Money Errors at $24.95. My check will not be cashed until the book is ready to ship. I would like the book: j autographed by the author j inscribed, as indicated below, and autographed Please mail the book to: BART, Inc. • PO Box 2 • Roseville, MI 48066 • 586.979.3400 • BartIncCorgdaoLcom Alabama Large Size NitIlfAlatA40tit 741651akt....''SF"''' qma) S Niktignalla Top Prices Paid David Hollander 406 Viduta Place Huntsville, AL 35801-1059 ) 0 N.vra0 ' 11•ANiiiAw 6579-seer, " ,4■60.0.1. ■■ (16.4".1111.. Ti; 1)4 )11.1., 111 .=.C• V20 Nobody pays more than Huntoon for ARIZONA & WYOMING state and territorial Nationals Peter Huntoon P. 0 . Box 60850 Boulder City, NV 89006 702-294-4143 PAPER MONEY • July/August 2003 • Whole No. 226 r Buying the following fancy serial numbered notes: I Denom Type Series Serial # Buying price for Unc. $1 SC 1928 11111111 $4000 $1 SC 1928 22222222 $3000 $1 SC 1928 00123456 $500 $1 SC 1928 00012345 $500 $1 SC 1935-1957 55555555 $1800 $1 SC 1928-1957 00555555 $500 $1 FRN 1963-2001 00012345* $900 $1 FRN 1963-2001 00001234* $800 $1 FRN 1963-2001 00099999 $500 $1 FRN 1963-2001 99999999 $10,000 $5 FRN 1963-1995 X1111111 $100 $50 FRN 1928-2001 11111111 $6000 I will buy any grade for these s/n's but would prefer uncirculated examples. I am buying many, many other fancy serial numbers. For a complete list, please contact: Mike Abramson Currency P 0 Box 16690 Duluth, MN 55816-0690 1-218-525-5916 phone & fax e-mail: I. 229 HISTORIC GROUND --1864 fn ante bounded est llienertel Or.. Clifton. Cern- wood S. Mortised. was wean* the ausjor pert Of the Rattle of Adverts we* tough. data 2211. to tenni of present tendeforks. the nettle organ nt elanotial Dr 1. Clifton when Hardeafs sight wing of wee tepalled In an unexpected cusses with theener's Mils A. C. die ff This wee followed be an ass•ett of ihirdee's heft Irene sitiels crushed the net of the nth A C. at Fitt Shoots Road S. Gterosoad 4 dislodged the rapt of the itrth A. C.. irreing theist north to a serend Site et 4 heal of. Leggett's nut - eight nomof bar* ht *MON two maJOr rInervat Maiker and Mleffteriai were killed July/August 2003 • Whole No. 226 • PAPER MONEY230 Another historical marker in the area, describing the Battle of Atlanta and the deaths of Union Major Generals McPherson and Walker. Below: The Cyclorama Building in Atlanta's Grant Park which holds the immense painting of the Civil War bat- tle and death of General McPherson. began on July 22nd, and General McPherson awoke for the last time. McPherson and his staff had just finished lunch when gun- fire in the southeast warned them of problems in the rear of the army. He and his staff rode to a bill where they had a compre- hensive view of the fighting in the Sugar Creek valley. His troops were outnumbered, but holding their own. McPherson sent his staff on various missions and rode forward on a narrow road through pine trees toward the left of his army's line. He was accompanied by a signal officer. The road had been controlled by his troops two hours earlier, however now skirmishers belong- ing to Patrick R. Cleburne's Confederate division had penetrated the woods, where they had seen the two Union officers. McPherson and his aide were ordered to halt. They did not, and McPherson was shot as he attempted to escape. This occurred at 2 p.m. Only after a counterattack by Union forces was McPherson's body recovered. It was then carried to General Sherman's headquarters. The Battle of Atlanta is memorialized on a massive painting that has been displayed in the city for more than a century. In relation to the Atlanta Cyclorama painting, the death of McPherson occurred on the extreme southern horizon out of view in the fourth segment of the painting. The Atlanta Cyclorama painting is 50 feet in height by 400 feet in circumference done by German artists in 1885-1886. It is housed in its own fireproof building on the grounds of Grant Park in Atlanta. This cyclorama painting is the best known, mounted and dramatic of this art form of battle cycloramas. Any visit of Atlanta must include this painting on one's agenda. In addition to the monument, General McPherson is memorialized by a fort bearing his name situated in the southwest part of the city. The monu- ment to Major General McPherson was built by U.S. Army Engineers. It con- sists of a cannon barrel pointing skyward that is enclosed by iron rails. There is also a state of Georgia information plaque on the site. All of this history sur- rounded my great-grandmother's house. Bibliography The Atlanta Cyclorama of the Battle of Atlanta (1954). Encyclopedia Americana (1965). Kurtz, Wilbur G. Sr, ""The Fighting At Atlanta, " Civil War Times Illustrated (1964). EARLY AMERICAN NUMISMATICS • UNITED STATES COINS AND CURRENCY • INDIAN PEACE MEDALS • COLONIALCOINS AND CURRENCY • OBSOLETE CURRENCY • ENCASED POSTAGE STAMPS • FRACTIONAL CURRENCY • REVOLUTIONARY WAR • CIVIL WAR & GREAT AMERICANA • WASHINGTON & LINCOLN • HISTORIC MAPS • AUTOGRAPHS • t P.O. Box 3507 • Rancho Santa Fe, CA 92067 • (858) 759-3290 • Fax (858) 759-1439 e of cue {'be 21, Subscribe to Receive Our Beautiful, Fully Illustrated Catalogs Only $72 for a Full Year Subscription of Six Bimonthly Issues VISIT OUR WEBSITE: www • EARLYAMERICAN COM d^tber'tate Clt.teter• WANTED I I • 0 II'. °Laes, In Stock for e late a Gold, Silver, and Pla nu Call for Quotes 80 onals, ens livery Products 7- 5 0 1 0 1. The South's oldest and largest co 1967 Top prices paid for all National Bank Notes, • ollections, d Estates Large Inventory of National Banki otes for sal See Our Website at Williamyoungerman.(om or el us at wym ey@aol.(om WILLIAM YOUNGE AN INC Your Hometown Currency Heat a K ers 95 South Federal Highway; tf3, oca Raton, FL 33432 P.O. Box 177, Boca Raton, FL 29-0177 (mailing) (561) 368-7707 (in Fonda) • (800) 327-5010 (outside Florida) (800) 826-9713 (Florida) • (561) 394-6084 (Fax) Members of FUN, CSNA. ANA and PNG PAPER MONEY • July/August 2003 • Whole No. 226 231 41M70130 232 July/August 2003 • Whole No. 226 • PAPER MONEY Is a $2 Legal Tender 1928C Mule Star Note Possible? By David Schlingman Research Verified by Peter Huntoon Overview P ETER HUNTOON'Sresearch on the $2 LT Series of 1928C mules and 1928D BA block non-mules (Paper Money, May-June, 2001) sheds light on the complexities during the tran- sition from micro to macro plate number usage. He documents that the transition involved a period when plates with both sizes of plate numbers -- on both faces and backs -- were on the presses at the same time. The result was simultaneous production of 1928C non-mules, 1928C mules, 1928D mules, and 1928D non-mules. The rarities in this mix are the 1928C mule, currently with 20 reported, and the 1928D BA block non-mule, with 20 reported. When consid- ering the possibilities, Huntoon concluded that $2 Series of 1928C mule star notes probably were not printed. He based his conclusion on the lack of known specimens. I have evi- dence that they were made! 1928C Mule Stars Were Printed Evidence that 1928C mule stars were printed comes from the 1928D non-mule star pictured here: *01976592A L190/289. This significant note appeared in the Smythe Memphis 2001 sale as lot 1295. While scanning the catalog, my first impression was that the note had to be a 1928D mule, not a non-mule, because its serial number fell within the reported mule range in the Oakes/Schwartz catalog. Also, the serial was well below the low reported serial for a 1928D non-mule star! The star serial ranges reported in the 4th edition of the Oakes/Schwartz catalog are: 1928C *01062930A - *02011530A 1928D mule *01911287A - *02505945A 1928D *01976592A - *03215773A Although I couldn't believe the 1928D was a non- mule, I knew that small size expert Scott Lindquist wrote the catalog copy, and he wouldn't make such a mistake! I couldn't wait to view the note at Memphis. When I did, sure enough it was a non-mule as described. To round out the picture, I also have observed a 1928C non-mule with serial *01976849A which is only 257 numbers higher. The point is that 1928D non-mule *01976592A in the Smythe sale was printed during the same period when 1928C face plates were on the presses. Furthermore, because it is a non-mule, we now know that the backs being mated with the faces contained a mix of micro and macro plates as well. Therefore, 1928C mule stars had to be made during this printing! Huntoon shows that the 5 million backs involved during the production of the 1928C mules and 1928D BA non-mules were printed between August 22 and September 7, 1939. The ratios were about 80 percent micros and 20 percent macros. The macro back plates in use were numbers 289 through 296. The note in the sale, *01976592A, has back 289. These backs were mated with a mix of about 43 per- cent 1928C and 57percent 1928D faces between PAPER MONEY • July/August 2003 • Whole No. 226 233 September 11 and December 15, 1939. From this mix, something like 430,000 1928C mules were produced. This star note, now the lowest reported 1928D New Hampshire Notes Wanted: Obsolete currency, National Bank notes, other items relating to New Hampshire paper money from the earliest days onward. Dave Bowers P.O. Box 539 Wolfeboro Falls, NH 03896-0539 E-mail: qdbarchivePmetrocastnet non-mule, demonstrates that some sheets were taken from this stock and used to produce star notes. Some of those stars obviously had to be 1928C mules! Not only did this star printing produce 1928C mules, it also contained the earliest 1928D non-mules as well such as *01976592A. Most of the production from it consisted of 1928C non-mules and 1928D mules. Those more common star varieties would be of little significance to collectors, and their serials are "lost" in the known serial ranges for those varieties. Conclusion It is clearly evident that at least a small run of star notes were produced from the stock of sheets contain- ing the mix of micro and macro backs, and 1928C and 1928D faces, that produced the rare regular 1928C mules and the 1928D BA block non-mules. Clearly, then, 1928C mule stars were made The challenge for small note buffs is to discover one. It will rank as the most stellar mule possible. Postscript A second equally significant $2 1928D non-mule star note appeared on e-bay in December, 2001, subse- quent to preparation of this article. This one is *01972969A G191/294, which is lower by 3623. It is also from the same printing described above, further substantiating the likelihood that it is only a matter of time before a 1928C mule star from the printing is dis- covered! r Buying & Selling All Choice to Gem CU Fractional Currency Paying Over Bid Please Call: 916-687-7219 ROB'S COINS & CURRENCY P.O. Box 303 Wilton, CA 95693 CEBTIRES 111/0" THERE HAS BEEN DEI7OSITED IN TNETREASUI, OF VIM WIEtiltlAAM@MIVIERIEA:1 X03765044 A X03765044A NVASIIINGT()N.D.C. • -V ONE SILIVIsl ilt: it 11101:1Li IPAIMULla To w untstiat gla■T LIMMEANT 234 July/August 2003 • Whole No. 226 • PAPER MONEY My Favorite Notes and Why (Memories of an Old Collector) By Steve Whitfield A S A YOUNG MAN I WORKED AS A BANK TELLER, WHEREI first saw large size U.S. currency notes. Occasionally we wouldtake in some of the old Federal Reserve Notes, Silver Certificates, orGold Certificates. In the head teller's cage at the main bank, along with gold bars and a collection of gold coins held as vault cash, was a large hoard of the old, large size bills. At that time my salary was less than $40 a week, so collecting these things was out of the question. I did manage to retrieve a few smaller denomination pieces, but did not do any serious collect- ing. Then one day in 1959, while acting as a substitute teller at the Union Trust Branch of the Industrial National Bank in Providence, RI, I happened to glance into my cash drawer and noticed an odd appearing back on a small sized Silver Certificate. It was a series 1928A note in Almost Uncirculated condi- tion. I substituted one of my own notes for it and took it home. It inspired me to learn more about U.S. currency, and eventually to seriously collect the stuff. In 1961, when I returned to college, I was forced to sell all my collectibles, con- sisting of coins, a few large size notes and a collection of mint US stamps. I needed the money to go back to school. I did hang on to the 1928A Silver Certificate and still have the note. I'll eventually pass it on to my kids or grand- kids as an heirloom. Another note that means a lot to me is also a $1 bill. This is a new Federal Reserve Note that came to me from a famous paper money collector. The note illustrated here, came with four other new $ls in a letter from Mr. Amon Carter Jr. This was the guy who used to casually throw a stack of notes, held together with a rubber band, into his case or onto the table at the early Memphis conventions. The stack was topped with a first charter $500 bill! The letter enclosing the notes asked me to trade for five current $1 Federals from my district. Here was a millionaire collector, sending me $5 and asking for a $5 trade in return. I of course went to the bank and got five new $ls and sent them off by return mail. I couldn't afford to keep all five of the notes at the time, so I only held onto one, the note shown here, and referred to in his letter. It greatly impressed me then, as a novice collector, that such a big shot would bother to trade with me for $5. When the Barr-signed $1 Federal Reserve Notes were introduced to the Retrieved from my teller drawer in 1959 for face value. 1890 $1,000 "Grand Watermelon" Note R-Atomo.c,viotENr-- - "' 4427 . $500 1880 Legal. Tender Serial #1 Washington Brownback 61101P17iiitifitSst,0- !i1lf, lra GoldCipl!! 914-78?8 We strongly recommend that you send your material via USPS Registered Mail insured for its full value. Prior to mailing material, please make a complete listing, including photocopies of the note(s), for your records. We will acknowlege receipt of your material upon its arrival. If you have a question about currency, call Lyn Knight. He looks forward to assisting you. CX.pi-ht PAPER MONEY • July/August 2003 • Whole No. 226 235 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 P.O. Box 713154. Overland Park. KS 68207 • 800-2-I3-5211 • 813-338-0779 • Fax: 3-338-4754 • E-mail: 831( • Wegee..10 K 00011805 A -7 11 ; 00011805 A 11 ai 1.-AJIOEST .DMIBINED ONLY .1ItULATION TILX.A.S PORT WORTH STAR-TELEGRAM NORNIN6 EVENING SUNDAY AMOna.Cart, Jr. Pritoklant and Pub.har July 6, 1971 Dear i1r. Whitfield: I saw your rune in SYNC and thought I would write. I am enclosing 5 small size dollar notes and in return would like 5 of yours. They can all be the sure, but I would prefer anything exceot the new Connally notes. The Dallas Connally note I an unclosing is oneof the lowest nurbera I have seen so far. thanks, Amon Carter Jr Star—Telegram Ft. Uorth, Texas 76101 P.S. I also collect the 5, 10, and 20 notes and would be interested in what series and blocks your bank is now using. July/August 2003 • Whole No. 226 • PAPER MONEY236 Left: Note obtained in $5 trade with Amon Carter Jr. in 1971. Below: Letter from the Texas collector insti- tuting the trade. public in 1965, word was that they would be a limit- ed issue that ought to be put away by knowledge- able collectors. I happened to be in D.C. at the time so decided to pick up a few. In those days, the Treasury operated a cash window at the street level of the Treasury building, and one could obtain new currency of whatever was being issued at the time. The government was also withdrawing United States Notes, Red Seals, from circulation about then, although some new notes were still being released. I got a pack of the Barr notes to pick through for serial numbers to save, and still had another $10 on me. I wanted a Series 1963 Red Seal $5 replacement, or star note. The clerk would not allow me to look for a star, nor would he do so. My only option was to buy as many new notes as I could swing and hope to get a star. With the $10 I had I was only able to get the next two notes. What a surprise when the second note turned out to be a star note! And so, another irreplaceable note with a story, went into the Whitfield archives. My most memorable and exciting find in the obsolete arena was a rare territorial note from Kansas. Shortly after being assigned to Lawrence, Kansas, I became obsessed with researching and trying to collect the obsolete currency of the town. Since the town had been destroyed (burned), by Quantrill's raiders in 1863, notes from Lawrence are extremely rare. As I began to acquire information and learned more about the territorial and Civil War period of the town, I expanded my search net. Ultimately I was advertising to purchase any related material in local newspa- pers. I received several calls and was able to purchase some history books and some fairly modern checks. Then one day I had a call from a lady who said she Star note from the U.S. Treasury Department street window in 1965. PAPER MONEY • July/August 2003 • Whole No. 226 237 On This Date in Paper Money History -- July 2003 By Fred Reed ° July 1 1709 NJ Colonials (FR NJ1 - 3); 1862 State Bank of Florida CDs payable in Confederate Notes; 1876 Beginning Allison-Wyman combined tenure; 1991 Author Chuck O'Donnell dies; July 2 1723 NY Colonials (FR NY55-56); 1867 Laban Heath patents counterfeit detector; 1895 J.T. Robertson patents improvement to banknote press; 1965 Last delivery Series 1963 $20 FRN; July 3 1776 NH Colonials (FR NI-1169 - 176); 1914 Author Chuck O'Donnell born; 1950 Last delivery of Series I934C $5 FRN; 1971 End of Connally-Kabis combined tenure; July 4 1826 Thomas Jefferson (FR 42-60) dies; 1831 James Monroe (FR 336-342) dies; 1840 Subtreasuries in major cities authorized; 1977 Confederate author Philip Chase dies July 5 1715 NY Colonials (FR NY32-38); 1801 Naval Hero David Farragut (FR 377-378) born; 1864 W.P. Fessenden takes office as Treasury Secretary; 1926 Engraver Kenneth Guy born; July 6 1757 South Carolina Colonial Currency (FR SC74) bears this date; 1831 U.S. Treasurer John C. New born; 1835 Chief Justice John Marshall (FR 372-375) dies; July 7 1876 Treasury Secretary Lot M. Morrill's term begins July 8 1775 Massachusetts Colonials (FR MA149-157); 1965 Last delivery of Series 1963 $10 FRN; 1965 Numismatic author Neil Carothers dies; 1982 Paper money dealer Herb Melnick (NASCA) dies; July 9 1766 Engraver Jacob Perkins horn; 1850 Zachary Taylor, who appears on obsolete notes, dies; 1868 14th Amendment to Constitution repudiates Confederate debt; 1906 Aubrey Bebee born; July 10 1832 President Andrew Jackson vetoes extension of Second Bank of the United States' charter; 1929 First current sized U.S. currency, Series 1928 Tate-Mellon $2 US Notes, placed into circulation; July 1 / 1767 John Quincy Adams (FR 184) born; 1771 Virginia Currency (FR VAS9-60); 1836 Jackson issues Specie Circular; 1955 President Eisenhower signs law mandating "In God We Trust" on paper money; July 12 1709 CT Colonials (FR CTla-4d); 1870 Congress authorizes National Gold Bank Notes (FR 1136-1166a); 1882 Congress creates Second Charter Period; 1950 First delivery of 1934D $10 SC; July 13 1849 Banknote engraver Thomas Underwood dies; 1928 Noted paper money author Gene Hessler born; 1946 First delivery of Series 1934B $100 FRN; July 14 1711 NJ Colonial Currency (FR NJ6-8); 1819 "Bank Note Exchange" in New York American; 1869 Fourth Issue Fractional Currency; 1947 Author/publish- er Fred Schwan born; July 15 1816 Abel Brewster patents a "forgery guard" for banknotes; 1841 U.S. Treasurer C.H. Treat born; 1864 Compound Interest Treasury Notes; 1925 Banknote engraver Marcus Baldwin dies; July 16 1863 First D.C. national bank organized (FNB of Washington #26); 1934 U.S. Treasurer Katherine Davalos Ortega born; 1951 Congress grants U.S. Secret Service permanent authority Jul)/ 1 7 1861 Congress authorizes Demand Notes (FR 1-15); 1862 Postage Currency; 1862 George Boutwell Commissioner Bureau of Internal Revenue; 1951 Register of Treasury Edward Jones dies; July 18 1817 "Bank Note Exchange" in NY Shipping and Commercial List; 1887 R.M.T. Hunter, on Confederate $10 and $20 notes, dies; 1944 Last delivery of Series 1934A HAWAII $20 FRN; July 19 1801 Treasury Secretary Robert Walker (FR 1308-1309) born; 1946 American occupiers introduce military yen into Japan; 1963 First delivery of Series 1950D $50 FRN; July 20 1711 New York Colonial Currency (FR NY12a-16) bears this date; 1775 Pennsyl-vania Colonial Currency (FR PA177-180); 1934 First delivery Series 1934 $5 SC; July 21 1746 NY Colonials (FR NY113-115); 1905 Treasury Secretary David M. Kennedy born; 1945 Last delivery Series 1934 $500 FRN; 1945 Last deliverySeries 1934A $1000 FRN; July 22 1724 NY Colonials (FR NY63-67); 1776 Continental Currency (FR CC39- 46) 1864 Union general James Birdseye McPherson (FR 353-355) dies; 1902 Register of Treasury L. Chittenden dies; July 23 1775 Congress appoints R. Bache, S. Pascall and M. Hillegas to supervise printing currency; 1844 Engraver Christian Gobrecht dies; 1874 Collector, author Waldo Moore born; July 24 1846 Comptroller of Currency/author A. Barton Hepburn born; 1950 First delivery Series 1934D $100 FRN; 1955 BNR Editor David Harper born; 1982 Collector Amon Carter Jr. dies; July 25 1761 SC Colonials (FR SC79-81); 1930 Author Rocky Rockholt born; 1946 Beginning of Snyder-Julian combined tenure; 1957 BEP commences printing $1 Silver Certificates with motto; July 26 1775 MD Colonials (FR MD71-78); 1845 Florida revokes charter of Union Bank of Florida, Tallahassee, and repudiates Faith Bonds pledged by State; 1933 Last delivery of Series 1928 $1000 FRN; July 27 1694 Bank of England Royal Charter; 1778 Francis Hopkinson begins as Treasurer of Loans; 1892 A. Barton Hepburn begins as Comproller of Currency; 1966 Last delivery Series 1950E $100 FRN; July 28 1957 End of IIumphrey-Priest combined tenure as Treasury Secretary and Treasurer; 1969 Last delivery of Series 1963A $10 FRN; July 29 1775 Michael Hillegas and George Clymer joint Treasurers for United Colonies; 1957 Beginning of Anderson-Priest combined tenure as Treasury Secretary and Treasurer; July 30 1718 Colonist William Penn, who appears on obsoletes, dies; 1849 Inventor Jacob Perkins dies; 1956 "In God We Trust" our national motto; 1969 First delivery of Series 1969 $20 FRN; July 31 1619 Virginia fixes legal tender value of wampum; 1830 Robert T. Bicknell publishes first issue of long-lived counterfeit detector; 1868 First use of the name Bureau of Engraving and Printing •:• Put your ad here and reach your target market all month long Special Rates Apply Contact the Editor for Details olove QP.1 WS% W■41.03,, 0 , am- Onna1l117 at dh, 400 e1 ELDRIDCE BROTHERS, • tai as 4., g44, (1.0o. (.12-sik ley arrent Rank Notes u 'Dollar .13; prat, nted, ?e,2 t of One 238 July/August 2003 • Whole No. 226 • PAPER MONEY Rare Kansas Territorial note obtained in response to a local newspaper ad. had some old checks that I might be interested in. I rushed right over to exam- ine what she had. I sat at her dining room table and she brought me a small stack of Civil War era checks on different banks in Lawrence. This was just the kind of stuff I was looking for! So, we made a deal and I left with the checks. Several weeks went by and she called again, indicating she had found some more checks. I immediately went over, eager to see what she had come up with. Same routine: dining room table and a small bundle of checks. As I looked through them I was somewhat disappointed since they were from the same banks as the previous bunch. But then, as I turned over another check, my heart leaped into my throat. There was one of the Eldridge Brothers, hotel and stage line notes from the territorial period, redeemable in gold! Previously, the only known copies had consisted of a complete set of denomi- nations held by the Kansas State Historical Society. When I got my wits about me, we negotiated a price and I left with the note, walking on air. When I got home I was eager to share such an exciting find with my wife. After listening to my suspenseful tale and seeing how excited I was about the whole thing, she brought me back to earth when she said, "and tell me again, just how much you paid for a piece of old paper." Nevertheless, it remains one of the highlights of my collection after more than 30 years of looking for Lawrence notes. I've never seen another and don't expect to. Another favorite note is one I bought from Grover Criswell, many years ago, for the grand sum of $6.25. I had written off for one of Grover's adver- tised lists of Confederate notes and obsoletes, and while going through it noticed an ad for railroad notes. There were several notes illustrated with vignettes of trains. One of the notes was on the "Bank of Whitfield." Holy mackerel, there were notes actually issued by banks with my name on them! I had to have one of these so I wrote to Grover, explaining my interest and ask- ing if he could please send me one of the notes. I got no answer, so I sort of Personally named bank scrip obtained from Grover Criswell for $6.25 after a two year wait. PAPER MONEY • July/August 2003 • Whole No. 226 239 On This Date in Paper Money History -- August 2003 By Fred Reed Aug. 1 1770 Explorer William Clark (FR 114-122) born; 1862 $1 and $2 Legal Tender Notes; 1866 Prohibitive 10% Federal tax on state banknotes takes effect; 1876 James Milligan patents steam press for currency production; Aug. 2 1774 New York Water Works Colonial Currency (FR NY171-174); 1813 Congress taxes bank note circulation 1-2 percent; 1939 Treasury Secretary John W. Snow born; Aug. 3 1803 Philadelphia Bank organized; 1861 CSA Congress amends act of March 9 to provide for $2 million interest-bearing notes $50 and above; 1920 BEP extends G.F.C. Smillie's contract as Superintendent of Picture Engravers; Aug. 4 1790 Congress funds $1 in bonds for $100 in Continental Currency and specifies Great Seal to appear on U.S. Loan Certificates; 1886 Congress authorizes additional Silver Certificates, including small denomination notes; Aug. 5 1812 Register of Treasury John Allison born; 1888 Union general Philip Sheridan (FR 268-270) dies; 1947 First delivery Series 1934C $10 SC; 1961 Fidel Castro issues decree invalidating pre-revolutionary Cuban currency; Aug. 6 1811 CSA Secretary of State Judah P. Benjamin, who appears on Confederate $2 notes, born; 1836 Congress adopts President Polk's sub-Treasury system; 1979 Paul A. Volcker begins tenure as Federal Reserve Board Chairman Aug. 7 1861 U.S. Treasurer William A. Julian born; 1898 Mr. FUN Robert L. Hendershott born; 1929 BEP closes down production facility for large size currency; 1979 Miller-Morton combined tenure begins; Aug. 8 1778 North Carolina Colonial Currency (FR NC170-182); 1899 Lucy Holcombe Pickens, on Confederate $100 notes, dies; 1942 Banknote engraver Sidney Smith dies; 1978 First delivery Series 1977 $100 FRN; Aug. 9 1817 Friedrich Koenig and Andreas Bauer establish printing machine compa- ny in Bavaria (forerunner of Giori); 1837 Cawhaba, Alabama, town council issues depression scrip; 1971 First delivery of Series 1969A $100 FRN; Aug. 10 1832 NY Colonial Currency author John Hickcox born; 1848 Tromp Neil currency artist William Harnett born; 1861 Demand Notes; 1966 Treasury announces no more $2 U.S. Notes will be printed; Aug. 11 1794 Paper money and U.S. Mint engraver James B. Longacre born; 1864 Colby-Spinner combined tenure begins; 1969 Series 681 MPCs issued; 1987 Economist Alan Greenspan becomes Federal Reserve Board Chairman; Aug. 12 1823 St. Augustine, FL municipal scrip; 1849 Treasury Secretary Albert Gallatin (FR 183) dies; 1862 Inventor John Gault receives patent for postage stamp case; 1946 Last delivery Series 1934A HAWAII $10 FRN; Aug. 13 1776 New York Colonial Currency (FR NY197-204); 1875 Last Original Series notes from 10-10-10-10 and 10-10-10-20 plates delivered; 1974 BEP card shows unissued $10 Series 1897 Educational Note design; Aug. 14 1776 Maryland Colonial Currency (FR MD91-102); 1870 Naval hero David Farragut (FR 377-378) dies; 1912 BEP and U.S. Mint engraver Edward R. Grove born; 1989 Treasury Secretary Robert Anderson dies; Aug. 15 1860 Register of Treasury Judson Lyons born; 1870 Kidder National Gold Bank (#1699) deposits bonds; 1882 First Series 1882 $5 Brown Backs issued; 1942 Only HAWAII overprinted notes valid in the Islands; Aug. 16 1841 President John Tyler vetoes Henry Clay's bill for a Third Bank of United States; 1869 Third Issue of Fractional Currency ceases; 2001 O'Neill-Marin combined tenure begins; Aug. 17 1873 Treasury Secretary William Meredith (FR 1264-1266) dies; 1893 Banknote engraver John W. Casilear dies; 1948 Israeli Parliament passes Bank Note Ordinance Act; 1988 Baker-Ortega combined tenure ends; Aug. 18 1774 Explorer Meriwether Lewis (FR 114-122) horn; 1961 Paper money enthusiasts meet to discuss formation of SPMC; 1966 Series 1966 USNs with "In God We Trust"; 1982 First hundred million share day on NYSE; Aug. 19 1861 CSA authorizes Treasury Notes payable six months after peace treaty; 1863 First National Bank chartered in Missouri (FNB Columbia #67); 1929 First U.S. small size currency $10 counterfeits discovered; Aug. 20 1785 Oliver Hazard Perry (FR 452-463) born; 1862 CSA Treasury Secretary Memminger recalls Hoyer-Ludwig $20s, $50s & $100s due to counterfeiting; 1925 Treasury Secretary Mellon approves small currency feasibility study; Aug. 21 1754 Colonel "Bloody Ban" Tarleton, depicted on Confederate Currency, born; 1796 Artist/banknote engraver Asher B. Durand born; 1862 First issue of Postage Currency; 1909 Treasury Secretary C. Douglas Dillon born; Aug. 22 1738 Rhode Island Colonial Currency (FR RI 29-31); 1862 Spencer Morton Clark (FR 1236-1239) becomes Chief of National Currency Bureau; 1925 Treasury serial numbers discontinued on National Currency; Aug. 23 1813 Stephen Douglas (Series 1872-75 $10,000 Currency Certificates of Deposit) born; 1884 Treasury Secretary Ogden Mills born; 1935 Banking Act removes Treasury Secretary and Comproller from Federal Reserve Board; Aug. 24 1775 New Hampshire Colonial Currency (FR NH137-141); 1814 British burn Main Treasury Building; 1865 First National Bank organized in Alabama (FNB Selma #1537); 1874 First National Bank chartered in Florida (FNB of Florida, Jacksonville #2174); 1966 Production of Series 1963A S50 FRNs with motto "In God We Trust" begins; Aug. 25 1774 New York Water Works Colonial Currency (FR NY167-170); 1857 Failure of Ohio Life Insurance and Trust Co. of Cincinnati brings on Panic of 1857; 1874 Banknote engraver John Gavit dies; 1936 U.S. paper money and Fractional Currency collector Charles Markus dies; Aug. 26 1842 Treasury sets fiscal year at July 1 through June 30, effective in 1843; 1863 First National Bank organized in Nebraska (FNB Omaha #209); 1912 Congress appropriates funds for extra 12 currency laundering machines; Aug. 27 1847 Senator Silas Wright (FR 1188-1197) dies; 1937 Treasury Secretary Andrew Mellon dies; 1942 NBN researcher/author Peter Huntoon born; 1947 Author and cataloger Martin Gengerke born; 1965 Society Board Members approve SPMC as official moniker for the Society; Aug. 28 1746 New York Colonial Currency printer John Peter Zenger dies; 1933 Executive Order regulates hoarding/exporting of gold, prohibiting holding of gold by U.S. citizens; 1953 Last delivery of Series 1950 $50 FRN; Aug. 29 1780 Treasury Secretary Richard Rush born; 1861 First U.S. currency pro- duced by Treasury Department; 1906 Artist and engraver William Edgar Marshall dies; 1938 Treasury Secretary Robert Rubin born; Aug. 30 1891 Register of Treasury Glenni W. Scofield dies; 1929 First delivery Series 1928 $100 FRN; 1933 Last delivery of Series 1929 $50 FRBN; 1957 Last delivery Series 1950A $20 FRN; 1965 Last delivery Series 1950D $10 FRN; Aug. 31 1860 Early Fractional Currency collector Henry Russell Drowne born; 1861 To avert small currency crisis in South, Georgia and South Carolina banks loan their small bills to CSA Treasury; 1965 Series 641 MPCs issued 240 July/August 2003 • Whole No. 226 • PAPER MONEY forgot about it. And then about two years later, there was a coin convention in Kansas City, which I attended. While walking around the bourse floor, I noticed that Grover Criswell was there and had a table. I waited awhile as he was talking to a customer, and when he was free I approached the table. Before I could say anything, he said, You are Whitfield, and I have something for you." He then produced a small packet of notes. Included was a nifty fraction- al on the Bank of Whitfield, priced a little over $6. I, of course bought the note and have always wondered how he knew who I was since we had never met, and practically no one knew me in the hobby at that time. Another favorite is a German piece I acquired for only $5 while browsing at an antique fair in Germany. We were stationed in West Germany for three years during the late 1970s. While I was able to buy a few notes from ads in Bank Note Reporter and a few dealer price lists, collecting pretty much went into limbo. After a while, my wife and I discovered a monthly antique fair in Stuttgart. She went to look at the "antiques," and I went for the Nvurst and beer. Once, around 1979, I happened to notice a small stack of notgeld on one Local note bought in a Stuttgart, Germany flea market for $5 in 1979. of the dealer's tables. I thumbed through the notes, hoping there might be a local piece included. As we moved around in the military I had made it a point to collect at least one, if not more, local city or town notes as a remembrance. That seemed to be impossible in Germany until I saw the notgeld. Unfortunately there was nothing local, but I asked the lady if she had any more "paper." Whereupon, she pulled out several banknotes from beneath the table. To my surprise, included was the beautiful note illustrated here from a bank in Stuttgart, Baden Wurtemburg. The blue and gold colors, in combina- tion with the wonderful cherub vignettes, make a most attractive note. The note had been issued in 1911 by a local bank near where we were living. The note was worth at least $25 to me, maybe more, so I inquired about the price. When she said $5, I couldn't get my wallet out fast enough. Had I not been so eager, I probably could have gotten it for two bucks. And thus I obtained my local note from our home town in Germany. This note also has a place of honor, with memories, in the Whitfield archives. And finally, I tell these "stories" to illustrate that collecting currency does not require a great amount of money. It sure helps if you want the finest quali- ty type set, or the rarest teritorial nationals, but a fortune is not necessary in order to have great fun with this hobby. There are countless ways to collect, and with just a little effort, you will uncover many memorable stories and notes that will last you a lifetime. PAPER MONEY • July/August 2003 • Whole No. 226 241 Husband-Wife team up to pen 'whale of a note book' A MERICAN HISTORY AS SEEN THROUGHCURRENCY by Dr. Edward A. and Joanne C. Dauer is one whale of a paper money book for the collector of U.S. fed- eral currency. Offering a virtually complete type set in color, including many varieties, almost all the great rarities, and wonderful reproduction, the book is also a wish list for anyone interested in paper money. The Dauer's 400-page full color hook also offers a great many historical tidbits, sidebars, and illustrations of related memorabilia drawing upon Dr. Dauer's award-winning philat- elic pursuits and extensive manuscript collection. The narra- tive is non-linear, encouraging one to pick it up and examine it at one's own pace lest one be overwhelmed by the presenta- tion. Photographs acquired from leading galleries and muse- ums supplement the text. Humanizing the presentation are lots of "family" snapshots of the Dauers with friends from pol- itics and commerce. Not ground breaking research but very educational as it interweaves material from many different fields, everything about this book is exceptionally well done, from photography to design to printing. By any reasonable standard, this book is very impressive. Heritage-Currency Auctions of America is the book's sole distributor. Orders may be placed on line at , or by phone at 1-800-872-6467, or by mail by sending a check or money order for $79.95 (plus $3.95 ship- ping) to Heritage-CAA, 100 Highland Park Village 2nd Floor, Dallas, TX 75205. Inquiries should be directed to Danita Johnston at extension 352. -- Fred Reed • 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: INSURANCE For The PaperMoney Collector Your homeowners insurance is rarely enough to cover your collectibles. We have provided economical, dependable collectibles insurance since 1966. • Sample collector rates: $3,000 for $14, 510,000 for $38, $25,000 for $95, $50,000 for $190, $100,000 for $278, $200,000 for $418. Above $200,000, rate is $1.40 per $1,000. • Our insurance carrier is AM Best's rated A+ (Superior). • We insure paper money, paper ephemera, manuscripts, books, autographs and scores of other collectibles. "One-stop" service for practically everything you collect. • 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 collectibles. • Detailed inventory and/or professional appraisal not required. Collectors list items over $5,000, dealers no listing required. • See our website (or call, fax, e-mail us) for full information, including standard exclusions. Collectibles Insurance Agency P.O. Box 1200-PM • Westminster MD 21158 =MOO E-Mail: info VISA Call Toll Free:1-888-837-9537 • Fax: (410) 876-9233 More Info? Need A Rate Quote? Visit: See the online application and rate quote forms on our website .74156014r4WI :t AMI,S,M, ItOM.M A.. • • IlEPIXa1121.721.1318210,,MTIRMIF Ta0".V...7 001V10110 2744 "FEE l'AWMSFAVE iN 36411101k4Aftiiict ccr. 44.1.4411,V41.411444.,44.5.U111 41"Altia 44.,„„cATI,Liz .1•M •411 ranar6k._ ommne sweleravneavai...1.1.,InELvn,omourisowaminEgbawcarrormIzo. r-IcEnrmsennawromylinimacnnerr , 12 iramitcouricr 242 July/August 2003 • Whole No. 226 • PAPER MONEY Contender for Littlest Signature on a Large Size NBN ALL OF YOU HAVE SEEN VANITY SIGNA-tures that sprawl across the faces of large size NationalBank Notes. Well, how about a humble signature? The printed signature of Albert Hollander on the $5 Series 1902 Plain Back from The Lawrence Avenue National Bank of Chicago (#12873) shown here must classify as a humility signature. I don't recall seeing one that is smaller. te*==f* THE PAPER COLUMN by Peter Huntoon The mess that appears in the space reserved for the presi- dent is the over-inked printed signature of Herman Elenbogen. The Lawrence Avenue National Bank was organized in January, 1926, and Hollander served temporarily as its first cashier. By year end, Elenbogen filled both offices, a situation that persisted until 1928 when J. H. Jeffries took over as cashier. The note shown here has a low serial number for the bank, and may even have been in the initial shipment. Lyn Knight had two $5 1902 Plain Backs from the bank in his February 19, 2000, CPIVIX auction, respectively serials 18562- C and 19487-D. These had a new cashier, probably J. H. Jeffries, but on both, the cashier's signature is printed but illegible. Elenbogen's signature on 18562-C is identical to the note shown here; however, it is clear on 19487-D which was more lightly inked.. Elenbogen served as cashier of The West Side National Bank (#11009) prior to and during the time he was organizing the Lawrence Avenue bank. A $5 1902 Plain Back from the West Side bank also appeared in the Knight auction, specifi- cally H978110H-27024-D with the signatures of Thomas J. Healy, president, and Elenbogen, cashier. By 1928, Elenbogen was gone as cashier and Healy took over both posi- tions as Elenbogen was already doing in The Lawrence Avenue bank. Both the Lawrence Avenue and West Side banks had cir- culations of $200,000, all in $5s during the large note era. Both banks failed in 1931. Returning to the tiny Hollander signature, what probably happened was that whoever made the plate photo-reduced his -13saamme.wwis iw ,wormi 1sWf:, 0; tAgiga4,ti: A—Ar. ad., 7/ Asee,.....4e. signature quite a bit more than was necessary, and they didn't bother to change it. You never know though, signing small may have suited Hollander's personality. His signature is fas- tidiously neat. ,g11;41194r,,Y V' *Alfa{ e.v. ter "' 41 ;34, iml.:,.-34zzmourapt 147402311paw "t622 taavrr arte-444-kIgnpr,nunirdag-r PAPER MONEY • July/August 2003 • Whole No. 226 243 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 P.O. Box 539 Wolfeboro Falls, NH 03896-0539 E-mail: July/August 2003 • Whole No. 226 • PAPER MONEY244 First National Bank of Ganado Where Are the Notes Now? GANADO IS SPANISH FOR CATTLE, ANDthe town of Ganado is in the heart of Texas ranch- land country about 80 miles southwest of Houston on Highway 59 in Jackson County. Until the pic- tured postcard surfaced, I had never heard of the town of Ganado. A collec- tor from Houston told me that the second "a" in Ganado is pronounced long. The First National Bank of Ganado was char- tered on September 8, 1911, (charter #10076) and was liquidated on April 12, 1918. The bank issued only $10 and $20 Third Charter Date Back and Plain Back notes. However, the bank is unreported in Kelly. Also, this bank was not repre- sented in the massive Philpott Texas National Bank Note collection, nor was it represented in the Everson, Irish, Ivy, nor Barton Texas National Bank Note collec- tions that have been auctioned off since 1997. With the help of the calendar along the right hand edge, this photo can be accurately dated. The calendar reads, "May 16, Thursday". Therefore, this photo was taken on May 16, 1912, during the bank's first year of operation. The man pictured standing in the teller's cage is probably J.D. Stallworth the cashier because on the cor- respondence/name and address side of the post card there is written across both sections, "J.D. Stallworth, Cashier, First National Bank, Ganabo, (sic) Tex." The spelling of Ganado here as "Ganabo" is a real puzzle- ment. Maybe Mr. Stallworth just misspelled the town's name. Maybe he just recently moved to town and for- got the correct spelling, or? The answer may never be known. J.D. Stallworth must have used the post card as a calling card so that the citizens of Ganado could see with whom they were or would be entrusting their money. Using it as a calling card would also explain the lack of postage on the post card. A break- through marketing idea for the times, I could just see Mr. Stallworth handing out his "card" to the citi- zenry of this small community. The post card also shows the typical layout of a small town's bank teller cage area. Wouldn't you just love to see the notes that were on hand at this bank in May of 1912? Bibliography Kelly, Don C. National Bank Notes A Guide With Prices, Third Edition. Oxford, Ohio: The Paper Money Institute, Inc. • CI . 1) Ict?iworn-)/ Cd 6hier Tr' b't AI cri-)0)14? Bdrik, Cdx) a b 0, 7&/ We are proud to continue the numismatic legacy begun in 1933 Specializing in Quality and Ra re 11. i. Currency U.S Large Size Fractionals Colonials Nationals National (*old Hank Notes Encased rfisiage Ka gin's -- an established name fnir (1M1.5pP rya tive grading d quality molts. WC spcNrialiLe ire buil:din); LLS. Lurrox:yII tiCE)..E11:..01LS of premium quality and fare notes_ favorabk kr4rns to soil .tuur i nclix ideal weds_ 98 Main Street #201 Tiburon, CA 94920 1-888-8I G. NS www,kagins,corn Call Judy 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 04 1419594 C 6 -Twirmir inwuraria, Buying Carl Bombara Selling P 0 M 0 RT IS THE #1 WHOLESALE SOURCE OF Paper money (historical & modern ), notgeld, coins (Chinese, Roman, modern, etc.), tokens, stamps, checks, Primitive monies, etc. Wholesale list is available on request Please contact us at: P. 0. Box 2-S, Ridgefield Park, NJ - 07660 - USA Toll Free: 1-800-775-8450 Telephone: 1-201-641-6641 / Fax: 1-201-641-1700 E-mail: / Website: PAPER MONEY • July/August 2003 • Whole No. 226 245 Why? Why do the leading paper money dealers advertise in PAPER MONEY? Because they are the LEADING DEALERS & They intend to remain THE leaders! • You can be a leader too • • Advertise in PAPER MONEY United States Currency P.O. Box 524 New York, N.Y. 10116-0524 Phone 212 989-9108 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. 711,0,111 A Primer for Collectors BY GENE HESSLER Unissued Series 1 897 $5 back design July/August 2003 • Whole No. 226 • PAPER MONEY246 Notes Were Artistic Success But Bankers Panned Them AT LEAST SIX ARTISTS SUBMITTED DESIGNSfor Series of 1896 Silver Certificates. Successful artists were to receive $800 for each approved design. Those who were unsuccessful were Arthur Flemens, Charles Stanley Reinhart (1844-1896), and George Maynard (1843-1923), who had submitted designs between May and September 1894 . Thomas F. Morris became Chief of the Engraving Division at the Bureau of Engraving and Printing on November 1, 1893. Letters at the National Archives confirm that three artists had already been selected by that time. The designs of Will H. Low (1853-1932), Edwin H. Blashfield (1848-1936), and Walter Shirlaw (1838-1908) were approved. Each was known as a muralist and had dec- orated the Manufacturers and Liberal Arts Buildings at the Columbian World's Exposition. Blashfield and Shirlaw also contributed to the decorations in the Library of Congress The subject on the face of the $1 note is History Instructing Youth by Low and engraved by Charles Schlecht. The backs of each denomination were designed by Thomas F. Morris. Portraits of Martha and George Washington are on the back of the $1 note. Charles Burt engraved Martha and Alfred Sealey engraved George. Mr. Low also designed a $2 note; however, this design was rejected. Lengthy correspondence in the National Archives confirms that Mr. Low was extremely unhappy because he was never paid for his $2 design. The successful design for the $2 note is based on Blashfield's $50 design. His Science Presenting Steam and Electricity to Commerce and Manufacture was engraved by G.F.C. Smillie and Charles Schlecht. "The 50," he said, " is an important compositional factor in the building up of my design. I have arranged a pyramid [effect] which a two cannot possibly supplement a fifty." The artist expressed his displeasure when he heard that his design would be altered, but lost the argument. The back of this $2 note shows the portraits of Robert Fulton and Samuel F.B. Morse engraved by Lorenzo Hatch. The $5 note is considered by most collectors as the most attractive of the three issued notes. The painting for this and the other two denominations are housed at the Bureau of Engraving and Printing (BEP). Electricity Presenting Light to the World, by Walter Shirlaw is the sub- ject of the $5 note. The figures on the face of this note were engraved by G.F.C. Smillie. This design went through some alterations including the size and shape of the light bulb held by Electricity, the size of the thunder- bolt held by Jupiter, and other minor changes. The back, has portraits of U.S. Grant and General Philip Sheridan. In the center is a winged female head. Photographs of the designers wife suggest that she served as the model. These notes only circulated for a few years; they were replaced by Series 1899. There were complaints, mostly by bankers, that the notes were too dark, and that they didn't look like previously-issued notes. They did not, and that was the rea- son for commission- ing three muralists. On August 15, 1897, The New York Times reported that "The whole series has proved unsuccessful from the point of view of the handlers of money." The art world hailed the three designs as the best example of gov- ernment workmanship. On July 25, 1898, a young lady by the name of Ellen Collins wrote to the U.S. Treasury complaining about the "indelicate figures" on the $5 bill. She also said the figures were "a distinct insult to our sex...." Ms. Collins was told that her "suggestion will have the fullest consideration. ..." This correspondence was found at the National Archives. Alterations were made on each denomination; the most noticeable is on the $5 note. The central figure on the $5 note now has a flimsy negligee-like garment. Proof impressions were made of each denomination from engraved plates, including a $10 note, but Series 1897 was never issued. The face and back of the issued $1, $2 and $5 notes and the face of the $1-$10, Series of 1897, are all available as BEP souvenir cards. This is an inexpensive way to have notes, some unissued, at a fraction of the cost of the actual notes. (Copyright story reprinted by permis- sion from Coin World, August 26, 1996.) • 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 x 2 7/8 19.50 37.50 165.00 310.00 Large Currency 778 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 5/8 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 81/2 x 17 1 /2 15.00 66.00 110.00 248.00 Stock Certificate End Open 91/2 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 D® 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. Mel inex Type 516. DENLY'S OF BOSTON P.O. Box 51010, Boston, MA 02205 • 617-482-8477 ORDERS ONLY: 800-I-II-DENLY • FAX 617-357-8163 PAPER MONEY • SPMC "Re-building a great Society for a new century" TM letter to the editor Dear Editor: I am seeking information as to how and who was responsible for assembling the Western Reserve Historical Society paper money collection which was sold at auction by Spink America on November 25-26, 1996. At the sale in New York, I met Kermit J. Pike, Library Director for the Society, and posed this ques- tion to him. He was not sure how the collection came into being, but felt that it may have occurred under the directorship of Wallace Cathcart between 1913 and 1942. I also questioned the cataloger and he said there was no information housed with the collection, but some correspondence between Cathcart and various financial institutions requesting specimens of the 1933 scrip were found. I have discussed this question with the old time collectors, and all admit knowing of the collection, but none knew of its origin. The completeness of many of the early issues sug- gest that a concerted effort by someone was made to gather the notes together rather than the average accu- mulation found in most historical museums. Several people have mentioned the name of Harley Freeman as a possible source, and upon seeing his picture in Dave Bowers excellent article (cf. March/April 2003 Paper Money) I am reminded that the task of finding the col- lection's source has never been finished. I would appreciate any information about this col- lection, and will share my findings with the Society membership via Paper Money. Ron Horstman 5010 Timber Lane Gerald, MO 63037 r I COLLECT FLORIDA • Obsolete Currency • • National Currency • • State & Territorial Issues • • Scrip • • Bonds • Ron Benice 4452 Deer Trail Blvd. Sarasota, FL 34238 941 927 8765 fInt reA Bearing Notes By Dave RO -(vers, tot .14/N1.1.- 1 ONE +1,`CE 9 11 telf1440i..4244e 0 7///,/ ....47k / //x. ttraafsgaooag,,xo July/August 2003 • Whole No. 226 • PAPER MONEY248 Bank Signatures on NBNs Towns, States, and Names Bills from National Banks from the 1860s through the mid-1930s are most often collected by state, town, bank, and type. Accordingly, an Original Series note from the Deseret National Bank, Salt Lake City, Utah Territory, although not a super rarity, is in high demand as, in general, "territorial" bills of the West are scarcer than are bills of such bustling commercial states as New York, New Jersey, and Pennsylvania. Any Utah Territory bill would make a dealer sit up and take notice. Ditto for Wyoming Territory and Dakota Territory, not to overlook Alaska. Sometimes a town name will provide a rea- son to acquire a note, as for the First National Bank of Intercourse, Pennsylvania, the key word used years ago to mean busy commerce or communications, not, as today, primarily sex. Don Kelly in his National Bank Notes book reports that more than 20 such bills exist today. I dare say that if an FNB of Intercourse note appeared at auction there would be a heck of a lot more interest in it than for most other Pennsylvania notes (say a Sixth NB of Philadelphia bill of comparable rarity). Treasury signature combinations, such as Colby- Spinner on certain issues of the 1860s, are the specialty of many collectors, not so much of National Bank enthusiasts (who rarely pay attention to such things) as for those who aspire to build sets of Silver Certificates, Legal Tender notes, etc. About 30 years ago when I was endeavoring to complete a collection in Uncirculated grade of all $1 bills from Legal Tender issues through the Federal Reserve issues, there was one signature combination (among three) of the 1890 Coin Notes that I could not find; ditto for one of the Minneapolis Federal Reserve notes. Who Could Sign and Who Did Generally overlooked are bank signatures, these being on National Bank bills, not the other issues. Each of the series, from Original through 1929 Type 2, pro- vided for the signatures of two bank officials, the cashier (listed first, as was also done on obsolete notes of an ear- lier era) and the president. Until rubber stamps were allowed to be used (in the 20th century) and printed sig- natures were utilized (on a few large-size issues and all of the 1929 Type 1 and 2 bills), these notes had to be signed by hand by the official designated. Copies of the signatures of the cashier and president were sent to the Comptroller of the Treasury in Washington and kept on file. Also allowed to sign, with signatures required to be on file, were officials designat- ed as cashier and vice president. In practice, I have found that bills signed by assis- tant cashiers, usually with "Ass't" in ink after the signa- ture, are fairly rare. The reason for this is simple: in nearly all National Banks, the cashier was the main operating official and, in many instances, the only salaried employee (cashier, clerk, teller, and bookkeeper all in one!). Accordingly, the cashier was nearly always on hand to sign bills. In contrast, the presidency of a National Bank was most often an honorary position, drew little in the way of salary, and was often filled by someone who was busy doing other things (including serving as governor of a state, or as a representative or senator in distant Washington, etc.). The president by definition presided Deseret National Bank, Utah Territory, Original Series $1 note, Allison-Spinner printed signatures, hand signed by Brigham Young as president. Although over a dozen such bills are known, it is of exceptional interest due to its territorial status and Young's fame as a Mormon leader. (Courtesy of Tom Denly) PAPER MONEY • July/August 2003 • Whole No. 226 249 I at meetings of the board of directors, at least the annual ones that included stockholders. Accordingly, bills signed by vice presidents are common. These usually have a designation such as "Vice," or "V." or something similar before the printed "President" inscription. A Closer Look at Bank Signatures Today, the entire field of cashier and president sig- natures on National Bank bills is terra incognita for 95% of enthusiasts in the field. Even in auction catalogues, it is very rare to mention the names of these people (except in such instances in which the person is famous, as with Brigham Young, of Mormon renown, who signed as president of the Deseret National Bank, Salt Lake City). Often, when they are mentioned, the deci- phering of the name is incorrect. In studying such things, particularly (but not exclu- sively) for the bills of New Hampshire, I have pursued many fascinating pathways. In many (not just a few) instances, Treasury Department records are incorrect, and misspell the names of bank officials—as clerks in the Department could not read the signatures on file. These errors found their way into the annual reports of the Comptroller of the Currency and elsewhere. (Sometimes when collectors and dealers "retrace" or add signatures to faded notes, they inadvertently copy wrong information—I've seen several such "concoctions" pos- ing as regularly signed bills!) Peculiarities of Bank Signatures In studying bank signatures I've made note of observable realities. Here are a few of them, each with exceptions, of course: When bills were hand-signed in the 19th century, officials often affixed their names, using initials or abbreviations (Geo. for George, the curious Jno. for Jonathan, Wm. for William, etc.), and often in an illegi- ble scrawl which must have taken only a second or two to do. In contrast, certain others produced what today are known as vanity signatures—with flourishes, loops, and other embellishments, often unreadable, but cer- tainly complex. Many Series of 1882 Brown Back bills are signed in brown ink (in addition to some bills that are brown because black ink faded to brown), quite distinctive when many such bills are examined. When rubber stamps became widely used to sign notes (these are endemic on 1902 Plain Back issues), many cashiers and presidents who earlier used only their initials in a scrawl all of a sudden produced signatures that included first names and were readable. Ditto for the printed signatures on Series of 1929 notes. In general, rubber-stamped signatures fade more rapidly than inked signatures. As the signatures of the cashier and president were stamped separately, some- times with different ink (even of a different hue), they fade at different rates. Moreover, "laundering" notes often removes or renders unreadable rubber-stamped signatures, but leaves inked signatures intact. Among the National Bank notes of New Hampshire are those bearing the signatures of upright citizens, of course, but also a few absconders, charlatans, and accused murderers. The majority of New Hampshire governors of the 19th and early 20th centuries were bank-note signers, either of obsolete or National Bank issues (wonder if this is true for other states?). In next column: more byways, obscure and, hope- fully, interesting! Re-building a great Society for a new century TM spmc 'ow Get involved; You can help by (1) Filling out and returning enclosed survey (2) Recruiting a new member today (3) Writing an article for Paper Money (4) Volunteering your time & experience Always Wanted Monmouth County, New Jersey Obsoletes - Nationals - Scrip Histories and Memorabilia Allenhurst — Allentown — Asbury 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 STOCKS & BONDS MONTHLY MAIL BID SALES RR's, Mining, Banking, etc. etc. Something For Everyone FREE LISTING I RICHARD T. HOOBER, JR. P.O. Box 7917, North Port, FL 34287 Phone or Fax (941) 426-2620 r I I I I I I I I money mart$ July/August 2003 • Whole No. 226 • PAPER MONEY250 THE SOCIETY OF PAPER MONEY COLLECTORSwas established in 1961 with one overriding purpose: To enhance the fun and enjoyment of collecting "paper money"! Pretty simple -- and that's the way our founders wanted it to be TODAY, 42 years later. The collectors who manage the Society's activities invite you to tell us Talk Back "how we are doing." Don't be complaisant. Don't suffer or go away bored or indifferent. Talk Back. Here are four who did: "I started out collecting obsoletes and at first the SPMC membership was a great help in this area. But I got to the point where I no longer could afford the notes I did not have and my collection "came to an end." I sold off the notes, about 300 of them, but still maintained my member- ship. It is my opinion that over the last few years Paper Money and SPMC in general is more interested in National Bank Notes than in anything else. Frankly, I always found them to be boring as opposed to obsolete notes. I really didn't see the point in some of the charts and articles that were published in PM. So I saw no point in continuning membership." -- Mike Kazanjia "Although I do consider myself a serious, life-long, paper money collector I did not feel that the subscription to SPMC fulfilled my needs/desires on a (bi)monthly basis. Some of the topics are so specifically focussed to the Nth degree that I don't find them interesting. I would say that I found less than half of the articles of interest to me. Issues devoted entirely to foreign currency, Fractional Currency, etc., left me sadly unstimulated for the two months in between issues. . . .I had hoped to see a more intimate level of advertising in the SPMC magazine that I did not discover. ...[E]ven though I am choosing not to remain a member, I will always be a paper money collec- tor." -- Dan Bryant "I have been out of town for the past four months and did- n't realize I was past due. I am happy to be part of this fine organization and I really enjoy reading Paper Money. . . .If there is something that I can do to help SPMC please let me know." -- George Edelstein "I chose to pass on renewing the membership; [it] just was- n't what I thought it would be. I am a beginner in paper money collecting and I was looking for a connection to meet other beginners and possibly find a way to buy some lower grade bills to start out my collecting. I was not get- ting my publications as I was supposed to. . . I looked every time for the magazine with my name in it under new mem- bers but never did or never got that publication. I enjoyed the magazine though it really was more for the advanced collector and ones who strive for perfect notes. I am just a small time collector on a very fixed income, which unfortu- nately due to some set backs, like a fire and death, I have not been able to spend much time enjoying life and my hobby. So maybe another time I can rejoin." -- Donn Lovell v PAPER MONEY will accept classified advertising on a basis of 150 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. RAIL-RELATED NOTES - U.S. & FOREIGN. There must be other collectors of these out there! Working on an almost complete listing of all such notes and would like to compare notes with other serious collectors of rail-related notes. Wm. R. Harmon, e-mail: (226) WANTED. $5 NATIONAL BANK NOTE RAYMONDVILLE, Texas Charter #12789. Will pay $500. Ralph Osborn, 380 Concord St., Vidor, TX 77662 (226) BANK HISTORIES WANTED. Collector seeking published histo- ries of banks which issued Obsoletes and/or Nationals. Also seeking county/state/regional banking histories. Bob Cochran, PO Box 1085, Florissant, MO 63031 e -mail: (228) LINCOLN NATIONAL BANK. Collector desires notes, photos, postcards, checks, memorabilia, metal coin banks, banking histories, publications, or what have you? from Lincoln National Banks or Lincoln State Banks or insurance companies, or other corporations named for Abraham Lincoln for use in forthcoming book. Please contact Fred Reed at P.O. Box 118162, Carrollton, TX 75051-8162 or for immediate purchase (228) NEVADA NATIONAL BANK NOTES WANTED. Any bank, denomination, we buy it all! Better California's also wanted and pay- ing "stupid" money for the note. Arri Jacob, P.O. Box 1649, Minden, NV 89423-1649 (228) HELP ME TURN UP THESE NOTES. NB of Commerce of Dallas #3985 ($5, $10 T2), and North Texas NB in Dallas #12736 ($10, $20 Ti). Frank Clark, POB 117060, Carrollton, TX 75011- 7060 (228) WANTED. Anything related to Ohio banks or banking prior to the end of the Civil War including bank notes, scrip, documents, checks, drafts, stock certificates, correspondence and the like. Collector prices paid for material that I need. Please write first, including a photocopy of the items being offered and your desired price. You may also use e-mail and JPEG scans if that's easier. Wendell Wolka, PO Box 1211, Greenwood, Indiana 46142 (228) WANTED. Fractional Currency Errors / Manuscript Notes; encased postage currency cases; South Carolina railroad paper items. Benny Bolin (228) WANTED KANSAS. Obsoletes -- Checks -- Drafts. S. Whitfield, 879 Stillwater CT, Weston, FL 33327 (234) SOUTH BEND, INDIANA. Obsolete paper money from South Bend or St. Joseph County wanted. Bob Schreiner, POB 2331 Chapel Hill, NC 27515-2331; email: (228) 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! (PM) EXPAND YOUR COLLECTION. Classified ad rates are low, low, low in Paper Money's "Money Mart." These small ads really get results -- why else would longtime collectors like past SPMC President Bob Cochran advertise year-in and year-out in this space. Send ad copy and check payable to SPMC to the Editor, PO Box 793941, Dallas, Texas 75379-3941 (PM) PAPER MONEY • July/August 2003 • Whole No. 226 Collectors! G ur Aluwbp Subscribe to Numismatic eNewsletter Its FREE! and Simple! Get all the hot hobby new s - FAST! 111111SM c e collect& filicoln SPECIAL OFFER 251 Standard Catalog of World Coins, 1701-180 third edition For lubat©krause.corn FROM THE EDITOR The results are in, a winner of the Coin of the Year contest was chosen. You can read about it below. etter than another? Each of us should What makes one coin b take on that question: what makes one coin more interesting than another to you? The process of deciding is highly suW ctive. But, if you sat down to s ear, y find a elect your own coin of the y way to rate them—artistic style, size-appropriate d e' innovation--whatever your preferences they clear , If you made this a group activit of core sensibilities regard' We should all give it a shot. program considerscoins o coin f tt time. Pick your top U.S. , or time, or state qu could have winner possibilities are man 'Cry this at a monthly co and your friends' coil to widen the fiel • if we won't Log on to Go to Coins and Paper Money category Click on any of the five numismatic publications. A pop-up box will appear and let you subscribe immediately! Bank Note Reporter Numismatic News World Coin News Coins magazine Coin Prices 700 E. State St, Iola, WI 54990-0001 800-258-0929 * Hours: M-F 7am-8pm, Sat. 8am-2pm CST July/August 2003 • Whole No. 226 • PAPER MONEY252 NEW MEMBERS MEMBERSHIP DIRECTOR Frank Clark P.O. Box 117060 Carrollton, TX 7501 1 SPMC NEW MEMBERS - 04/05/2003 10606 Rick Allard, 3453 Green Pine Pl, Simi Valley, CA 93065 (C & D, US Large, Type, Errors, Fancy Numbers), Bob Cochran 10607 Mickey Shipley, PO Box 48, Devil's Lake, ND 58301 (D, Nationals, US Large & Small Type), Bob Cochran 10608 Adrian Waller (C), Tom Denly 10609 Randy Finefrock, 6121 E. Caballo Dr, Paradise Valley, AZ 85253 (C, Obsoletes, Confederate), Website 10610 Stephen R. Edwards, 111 California Ave, Monchs Corner, SC 29461 (C, $20 FRN's, South Carolina & Texas Nationals), Judith Murphy 10611 Ray Koladycz (C), Website 10612 Steve Ivy, 100 Highland Park Village 2nd Floor, Dallas, TX 75205-2788 (D), Bob Cochran 10613 Lonnie Turner, Sr., 6116 86th Ave, New Carrollton, MD 20784 (C, US Type), Website 10614 Jim Allen, PO Box 3680, Carefree, AZ 85377-3680 (C, Nationals, Type Notes), Website LIFE MEMBERSHIP LM341 Donald Kagin (C/D) Bob Cochran SPMC NEW MEMBERS - 05/13/2003 10615 Russell Dill (C, Pre-Civil War Notes), Tom Denly 10616 Rodney Miller (C), Website 10617 Dr. Keith E. Littlefield (C), Judith Murphy 10618 Ralph Pagano, 87 Overlook Rd, Cedar Grove, NJ 07009-2213 (C, Fractional), Benny Bolin 10619 Kurt Kreutzer, PO Box 593, El Cajon, CA 92022 (C, US Large), Tom Denly 10620 Harold J. Frey Jr. (C), Torn Denly 10621 Richard Radick (C) website 10622 Torn Segrich, C/O GTFM LCC, 269 Passaic St, Hackensack, NJ 07601 (C, Large Type), Torn Denly 10623 Charles Eugene Miller, 20460 Balfour St Apt #1, Harper Woods, MI 48225-1541 (C, US Large & Small, Errors), Tom Denly 10624 Jon Winberg (C), Torn Denly 10625 J.W. Brown, Jr. (C), Website 10626 Clifford Thies (C), Fred Reed 10627 Forrest R. Marshall Jr., Argyll Farm, 2356 Scottsville Rd, Charlottesville, VA 22902 (C, All), Website 10628 James D. Cooper, 4805 High Oakes Blvd, Toledo, OH 43623 (C, Large Size Gold Certificates), Tom Denly 10629 J. Fred Maples (C), Website Research Exchange Update: Information/Illustrations Wanted Author compiling directory/catalog of tromp l'oeil (illusionistic, hyper-realistic) currency paintings (see Paper Money, Jan/Feb 2000 for details) such as John Haberle's Can You Break a Five? (1888) shown above. This type of painting was very popular in the last half of the 19th Century, but continues down to the present. If you have illustrations of these works, information about them or their artists, information about present whereabouts of the works or other details, please contact the Editor. Thank you. 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 I/PCDA, SPMC LCor Buying & Selling Quality Collector Currency •Colonial & Continental Currency •Fractional Currency •Confederate & Southern States Currency •Confederate Bonds •Large Size & Small Size Currency Always BUYING All of the Above Call or Ship for Best Offer Free Pricelist Available Upon Request James Polis 4501 Connecticut Avenue NW Suite 306 Washington, DC 20008 (202) 363-6650 Fax: (202) 363-4712 E-mail: Member: SPMC, FCCB, ANA SOVEREIGN' MYLAR SLEEVES 8 ENVELOPES Archivalware Sovereign- Currency Storage - Just one of the categories in the 0707i4i1Prnt. 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: 7 .800.628.197 2 Fax: 1.800.532.928 1 E-mail: infoguniversityproducts.corn tools for serious collectors 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: PAPER MONEY • July/August 2003 • Whole No. 226 253 254 July/August 2003 • Whole No. 226 • PAPER MONEY BY THE TIME YOU READ THIS I SHOULD HAVE (finally...) put the library listing on the Internet. Check our main web site,, for the link. For those who don't have Internet access, you may request a list in your area of inter- est. Please be specific. We may publish on paper the entire cata- log, but we will probably have to charge for the list. Focused lists can be provided for a SASE (self addressed stamped envelope). Here are a few new book acquisitions: Counterfeit Currency of the Confederate States of America, George B. Tremmel. The first comprehensive study of contem- porary counterfeits, and an excellent one at that. See the review in the last issue of PM. New York State Scrip and Private Issues, Gordon L. Harris. Non-bank issues from a state that has needed cataloging. Nicely done and a welcome complement to our Wismer Project series. The Comprehensive Catalog of U.S. Paper Money: All United States Federal Currency Since 1812 (6th Ed), Gene Hessler. The current edition from an old friend. Greenback: The Almighty Dollar and the Invention of America, Jason Goodwin. From the Booklist review: "Goodwin tells the story of the world's dominant currency, the dollar, and its aston- ishing role in American history. We learn about the endless list SPMC Librarian's Notes By Bob Schreiner, Librarian of characters who shaped this country, both famous and obscure, and how they profoundly influenced its growth because they understood that money was the key to unlocking liberty and the pursuit of happiness or wealth. Paper money, invented in Boston in 1690, was known as 'bills of credit,' which people could use now and pay for in years ahead. Unlike Europeans, who were attached to money for its own sake, Americans used it as a medi- um for growth with an entrepreneurial spirit that has flowered in this country during the more than 300 years since the dollar was invented." Financing the American Revolution, Udo Hielscher. This vol- ume, published by the Museum of American Financial History, uses 43 premium quality, full color plates of rare original docu- ments and an accompanying narrative to chronicle America's eco- nomic history from just prior to the Revolution and takes us to the birth of the New York Stock Exchange in 1792. Do you have suggestions for the library? Please send them to me at POB 2331, Chapel Hill, NC 27515-2331, or email rcschreiner@mindspring. This is YOUR Last Chance Next issue of Paper Money is our 3 rd annual Fall International Special Issue Although the magazine is FULL I'll sneak your paid ad into the 80-page extravaganza, **IF** you forward your ad copy and payment to me (Editor) by July 15th Full Page $300 Half Page $175 Quarter Page $100 Change for Change's Sake LNCLUDED IN THIS ISSUE ARE SEVERAL LETTERS FROMindividuals who presently are or formerly were members of SPMC. A common thread is "Provide something for me." Fair enough. Some are beginners. Some are advanced. Some have diverse interests which may be long held or emerging. We have always been a believer that you get what you espouse. Speak clearly and in full sentences to an infant, and you get a well-spoken child. Speak gobbledy gook and your offspring will always have a penchant for baby talk and fuzzy thinking. This is of the pre-PC stripe of speak French to a child, you'll get a Frenchman philosophy. Of late, we've watched other (nameless) publications deliberately slant their presentations towards emerging state quarter collectors. While we at SPMC pride our- selves that our members are the premiere researchers/authors in the hobby, that DOES NOT mean that even old dogs can't learn new ways. We announced (Paper Money March/April) the revitalization of an important aspect of this magazine, regular columns. Columnists not only provide diversity, but identity. Both generate reader satisfaction and devel- op member loyalty. In this issue, we debut a new column "Interest Bearing Notes" authored by Q. David Bowers, which will appear regularly. Certainly Dave needs little introduction to this audience. He's not only prolific, but often probing and sometimes profound. We expect a good pro- portion of the membership to enjoy Dave's content and style. We also debut another new column "On This Date in Paper Money History," compiled by ye olde Editor, old enough to recall some of the items but not all! I've wondered, "What is the most important day of the syn- graphic (paper money) year?" Well, what is your most important day per- sonally? Your anniversary, wife's birthday, military discharge date, the day you got your driver's license, or won the lottery? This column grew out of the Editor's somewhat silly desire to determine the most important day of the year for paper money collectors and do a story about it. It is patterned after popular features in other publications and media, which provide birth dates; firsts; lasts; anniversaries; important, even arcane events on a day-by-day basis. Our database of significant paper money dates is about 4,000 and growing, so space each month will only permit a sam- pling. But you get the idea, and you can contribute. Especially wanted are "interesting" tidbits, but please provide documentation. We realize we're walking the proverbial tightwire, trying to balance the needs of a spectrum of paper money enthusiasts, but we're committed to try. We believe popular writer (and outstanding historian) Dave Bowers' column and the paper money calendar will appeal to advanced and novice collectors of all stripes, but especially to the Curious George in all of us. Don't hesitate to call us on the carpet if we veer too far in any direction. Your first chance is a survey enclosed giving you a real opportunity to put in your "two cents worth." Surely your views are worth spending 10 minutes and 37 cents to be heard. We also announce an e$Say contest (see page 224 for details). Its theme is "My Most Memorable Money," or M4. Economists measure money in terms of Ml, M2 and M3, which are increas- ingly broader definitions of what constitutes the money supply. Well, what is your M4 definition? What stokes your furnace? If what interests you isn't here, put your pen where your heart is. The best essays will be published and valuable prizes awarded. Another new columnist debuts next issue (more on that later). Significant change CAN be good. SPMC 6000 is our program for "Re- building a great Society for a new Century."TM We need help ... YOURS+ HARRY IS BUYING NATIONALS — LARGE AND SMALL UNCUT SHEETS TYPE NOTES UNUSUAL SERIAL NUMBERS OBSOLETES ERRORS PROOF FEDERAL NOTES HARRY E. JONES n minim PO Box 30369 Cleveland, Ohio 44130 1-440-234-3330 "'AN OA ER AD INDEX AMERICAN SOCIETY CHECK COLLECTORS 245 ABRAMSON, MIKE 229 BART, FREDERICK J 229, 253 BENICE, RON 247 BOMBARA, CARL 245 BOWERS & MERENA GALLERIES IBC BOWERS, Q. DAVID 233, 243 BUCKMAN, N.B. 249 COHEN, BERTRAM 241 COLLECTIBLES INSURANCE AGENCY 241 CURRENCY AUCTIONS OF AMERICA 225, OBC DENLY'S OF BOSTON 247 EARLY AMERICAN NUMISMATICS 231 FRICKE, PIERRE 223 HOLLANDER, DAVID 229 HOOBER, RICHARD T. 249 HORWEDEL, LOWELL C. 245 HUNTOON, PETER 229 JONES, HARRY 255 KAGIN, A.M. 255 KAGIN'S 4 KNIGHT, LYN 235 KRAUSE PUBLICATIONS 251 KYZIVAT, TIM 253 LIFT, WILLIAM 223 LITTLETON COIN CO. 256 NAPLES BANK NOTE COMPANY 215 NUMISMANIA RARE COINS 219 PERAKIS, ALEX 223 POLIS, JAMES 253 POMEX, STEVE 245 PROFESSIONAL CURRENCY DEALERS ASSN 227 ROB'S COINS & CURRENCY 233 SHULL, HUGH 210 SMYTHE, R.M. IFC UNIVERSITY PRODUCTS 253 YOUNGERMAN, WILLIAM, INC 231 PAPER MONEY • July/August 2003 • Whole No. 226 255 BUY ALL U.S. CURRENCY Good to Gem Unc. I can't sell what I don't have A.M. ("Art") KAGIN 505 Fifth Avenue, Suite 1001 Des Moines, Iowa 50309-2316 (515) 243-7363 Fax: (515) 288-8681 At 83 It's Still Fun - Currency & Coin Dealer Over 60 Years I attend about 15 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 (left- to right) Josh Caswell, Jim Reardon, Butch Caswell and Ken Westover Littleton's experienced team of buyers. July/August 2003 • Whole No. 226 • PAPER MONEY256 David Sundman, President ANA Life Member #4463; PNG #510; Society of Paper Money Collectors LM#163; Member, Professional Currency Dealers Association 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. 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 Es! interested in selling paper money to Littleton. Please contact me regarding my•collection or holdings. Fill out this coupon and Fax Toll Free to (877) 850-3540, or Mail to: Name Address r Littleton Coin Company Dept. BYA302 1309 Mt. Eustis Road Littleton, N.H. 03561-3735 City/State/Zip Daytime Phone Best time to call__ 1 We offer you the incomparable and very profitable ad- vantage of having your material presented in our superbly illustrated Grand Formatmt 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. hnpressiee $100 homily or Coin ,Vote, realized $138,000 11153t-Orit • Unique Territory of Dakota, National Bank Note, Serial #1, realized $55,200 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 rewarding decision you make. Choice VF 1861 Montgomery Issue $100, realized $25,300 A P19,.MV "."'FiernariviOntia 0.1 iteketri, 12139co AZIEEZIMNO -.H :11.1.01.k.17,11.11s. It /(11.71,1i, , alma 4111-011=4,126 d/erfie,,‘ 444, +.421130 e a+nwl A...eaLl4/734P _ VrnigitenialliaNO4141FROW " 'allitirat 2.7Z 1 " CO 110!"-Mr17 1k 32863 -441=0) - -.1 Weehawken, New Jersey $5 National Bank Note Pain Serial #1, realized $15,525 ff %/ 1/, / k ft. STATES 4 CPS: -- .41 ie/ry,,i der 101`, IVIONTCOM ERV: C.) REALIZE TOP MARKET PRICE FOR YOUR PAPER MONEY! Let Our Success be Your Success! Consign with Bowers and Merena Galleries Today! Buy Online, Bid Online, Books Online! BOWERS AID IV ERENA GALLERIES A COLLECTORS UNIVERSE COMPANY—NASDAQ: CLCT PM 09 01 A Box 1224 •• Wolfeboro, NH 03894 • 800-458-4646 • In NH 569-5095 • FAX 603-569-5319 • e-mail: AMERICAN HISTORY As SEEN 'Wan CURRENCY Of JOANNE AND EDWARD DAUER A PICTORIAL HISTORY OF SOME OF THE RAREST U.S. MONEY. EVER SEEN As Seen Through Currency 103nnt• C Dauer, B.S,N 14.5,N R N E(144 ;Ira A. Nov,. 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Please send me 11 1 American History As Seen Through Currency 1 1 • 9"x12' Format • 400 pages • Full color • Beautifully hard bound • 1 1Please tend me copies al $79.95 ea. Slipping and handling•add 13.95 per book $ 4se.nsf Grarve Mease au. [10}111.14.1 atICI 1.4 .1k