Paper Money - Vol. XVI, No. 2 - Whole No. 68 - March - April 1977

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COLLECTORSLICATION OF THE he_ March • April 19 77 Volume XVI No. 2 Whole No. 68 nd of r Breen 4 The President andDirectors thepromise to pay out of the Capi lc nd Funds thereof to tal r bearer on (kin dand the Stoelholders jointly and senera 19 guarantee the ent at their North had a paper moneyproblem. Read about it inCharles Kirtlev's article Charles V. Kemp, Jr. tells members about Judge Woodwar and his wildcat . .. bank that is! M. Owen Wa rnsdigs up an Idaho gem SUPE11111 U. S. UNCUT SHEETS Beautiful Superb Crisp New "Uncut Sheets" that can put Your Collection in the "Blue Ribbon Winner Class". Buying/Selling Crisp New Sheets (4, 6, 12, 18, Fractional). Please Send Want List on any Sheets you wish to Buy & List any Sheets you may wish to sell. (Also any Choice, Scarce/Rare Large Notes.) 1935D $1.00 Silver Certificates Uncut Sheet (12). Clark/Snyder. Of the 100 Sheets issued, only 37 Sheets Recorded as known, in Chuck O'Donnell's 5th Ed. "Standard Handbook of Modern U.S. Paper Money" . . . Estimated Value of this Sheet is $1,350.00. Our Price - SPECIAL $995.00 1928G $2.00 Legal Tender Uncut Sheet (12). Clark/Snyder. 100 SA issued, but O'Donnell's 5th Ed. Records only 20 known to Exist, with a Value of $1,400.00. We offer this Splendid Sheet for $1,195.00 $1,995.00SPECIAL - This Superb Pair $1 FEDERAL RESERVE SETS Superb Crisp New Sets + Low Prices Regular Sets Star Sets 1963 (12) 29.95 (12) 29.75 1963A (12) 27.75 (12) 28.75 1963B ( 5) 9.75 ( 4) 8.75 1969 (12) 21.75 (12) 24.75 1969A (12) 21.75 (11) 22.75 1969B (12) 20.75 (12) 24.75 1969C (10) 18.75 ( 9) 22.75 1969D (12) 19.35 (11) 23.75 1974 (12) 18.75 Above Complete (99) 179.75 - (83) 178.75 For any above set - with the last Two Nos. Matching, please add $2.00 per set. MATCHED NUMBERED SETS All sets with identical last two numbers 1963/1974 -- All 9 Sets (99) 209.75 1963/19690 - All 8 Star Sets (83) 208.75 RARE COMPLETE SET RED SEAL $2 BILLS Superb Crisp New Set (14): 1928 - 1928A - 19288 - 1928C - 1928D - 1928E - 1928F - 1928G - 1953 - 1953A - 1953B - 1953C - 1963 - 1963A Just this One Rare Set - All Fourteen are Perfectly Centered 969.50 Similar Set = a Few are not as Nicely Centered 869.50 1976 BI-CENTENNIAL $2.00 SET FEDERAL RESERVE NOTES Superb Crisp New-the Last Two Serial Nos. Match on all 12 Districts 31.75 RED SEAL $1 NOTE 1928 $1.00 Legal Tender = Low Serial No. under 5,000 Superb CN 56.50 Similar = but not as well Centered 48.50 RARE EXPERIMENTAL ISSUE 1935A Red "R" & "S" Pair - Superb Crisp New 174.50 Similar Pair - Crisp New but not quite as well centered 149.50 MAJOR ERROR NOTE 1957B $1.00 Mis-Matched: US7/U47 = Superb Crisp New 49.50 Same - Encased in Lucite Holder, with Title 54.50 WANTED Major Errors. Please Describe and Price. Save $$$'s on Book Orders - Deduct 20% Discount IF you include an Order for Notes - or Just Order any two Different Books. Please Add 75c on Book Orders (Over $50.00 Add $1.00). Bradbeer "Confederate & Southern States Currency" Repring Criswell "North American Currency" 2nd Ed. Incl. Canadian & Mexican Currency. Illus'd ; Values Special: Above BIG Pair New NET Criswell. New 1976 Ed. "Confederate & So. States Currency" Slabaugh. New 5th Ed. "Confederate States Paper Money" SPECIAL - Both Books NET Pick. New 2nd Ed. "The Standard Catalog of World Paper Money". 20,00Q Notes Listed; 4,000 Photos. Up-to-date Valuations Friedberg "Paper Money of the United States" 8th Ed. Gaytan/Navarro. New 2nd (English Language) Ed. "Paper Money of Mexico". Illus'd , Values Hessler. "The Comprehensive catalog of U.S. Paper Money". Illus'd., Values it's terrific Valentine. New Reprint "Fractional Currency of the U.S.". A MUST Newman. New 2nd Ed. "The Early Paper 12.50 Money of America". All Colonial & Conti- nental Notes Illus'd. & Priced (in 3 Grades). A MUST 15.00 Van Belkum. "National Bank Notes of the 21.50 Note Issuing Period 1863/1935" List all Charter Banks (14,343) 15.00 Warns. "The Nevada Sixteen National Bank Notes". An Exciting Work 2.95 * Kagin/Donlon. "U.S. Large Size Paper 15.95 Money 1861/1923", New 1976 1977 Ed. * Hewitt/Donlon. "Catalog of Small Size Pa- per Money". 18th Ed. * Kemm. "The Official Guide to U.S. Paper Money". New 1977 Ed. * O'Donnell. "The Standard Handbook of Modern U.S. Paper Money". 5th Ed. All You'll Want to Know about Block Collect- 12.50 ing. NET * Shafer. "Guide Book of Modern U.S. Cur- 20.00 rency". 7th Ed. * Werich. "Catalog of U.S. & Canada Paper Money". New 1974 Ed. 12.50 SPECIAL - The above BIG Six, Starred NET 17.50 17.50 22.50 13.50 17.50 3.95 2.50 1.65 15.00 2.95 3.95 24.95 Please add $1.50 to all Currency Orders. Nebraskans add Sales Tax. 100% Satisfaction Guaranteed. SASE - for our List of Small Size Notes, Fractional and Confederate Currency - plus Books and Supplies. lichee's, inc. "Pronto Service" 4514 North 30th Street Phone 402-451-4766 Omaha, Nebraska 68111 SOCIETY OF PAPER IVIONEY COLLECTORS INC. PAPER MONEY is published every other month beginning in January by The Society of Paper Money Collectors, Inc., J. Roy Pennell, Jr., P.O. Box 858, Anderson, SC 29621. Second class postage paid at Anderson, SC 29621 and at additional entry office, Federalsburg, MD 21632. (i.) Society of Paper Money Collectors, Inc., 1977. All rights reserved. Reproduction of any article, in whole or in part, without express written permission, is prohibited. Annual membership dues in SPMC are $10 for the first year (includes $2 admission fee and $8 for each year thereafter, of which $5.25 are for a subscription to PAPER MONEY. Subscriptions to non-members are $10 a year. Individual copies of current issues, $1.75. ADVERTISING RATES Contract Rates SPACE Outside 1 TIME 3 TIMES 6 TIMES Back Cover $48.00 $130.00 $245.00 Inside Front & Back Cover 45.00 121.00 230.00 Full page 39.00 105.00 199.00 Half-page 24.00 65.00 123.00 Quarter-page 15.00 40.00 77.00 Eighth-page 10.00 26.00 49.00 25% surcharge for 6 pt. composition; engravings & artwork at cost + 5%; copy should be typed; $2 per printed page typing fee. Advertising copy deadlines: The 15th of the month preceding month of issue (e.g. Feb. 15 for March issue). Reserve space in advance if possible. PAPER MONEY does not guarantee advertisements but accepts copy in good faith, reserving the right to reject objectionable material or edit any copy. Advertising copy shall be restricted to paper currency and allied numismatic material and publications and accessories related hereto. All advertising copy and correspondence should be addressed to the Editor. Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XVI - No. 2 Whole No. 68 Mar./Apr. 1977 DOUG WATSON, Editor Box 127 Scandinavia, WI 54977 Tel. 715 -467 - 2379 Manuscripts and publications for review should be addressed to the Editor. Opinions expressed by the authors are their own and do not necessarily reflect those of SPMC or its staff. PAPER MONEY reserves the right to edit or reject any copy. Deadline for editorial copy is the 1st of the month preceding the month of publication (e.g., Feb. 1 for March issue, etc.) SOCIETY BUSINESS & MAGAZINE CIRCULATION Correspondence pertaining to the business affairs of SPMC, including membership, changes of address, and receipt of magazines, should be addressed to the Secretary at P.O. Box 4082, Harrisburg, PA 17111. IN THIS ISSUE THE IDAHO JEWEL M. Owen Warns 25 CHASING RAINBOWS and other COLORFUL NOTES Walter Breen 69 JUDGE WOODWARD AND HIS WILDCAT BANK Charles V. Kemp, Jr. 82 CAROLINA COLONY'S PAPER PROBLEMS Charles Kirtley 96 SOCIETY OF PAPER MONEY COLLECTORS INTERESTING BEARING NOTES 100 SECRETARY'S REPORT 102 LIBRARY NOTES 104 COPE PRODUCTION RECORDS 106 CONTRIBUTING TO THE CAUSE 107 NASCA AUCTION SETS BENCHMARK 108 Whole No. 68 Page 67 Society of Paper Money Collectors OFFICERS PRESIDENT Robert E. Medlar, 220 Alamo Plaza, San Antonio, TX 78205 VICE PRESIDENT Eric P. Newman, 6450 Cecil Ave., St. Louis, MO 63105 SECRETARY Harry Wigington, P.O. Box 4082, Harrisburg, PA 17111 TREASURER C. John Farreri, P.O. Box 33, Storrs, CT. 06263 APPOINTEES EDITOR Doug Watson, P.O. Box 127, Scandinavia, WI 54977 LIBRARIAN Wendell Wolka, 7425 South Woodward Ave., Apt. 214, Woodridge, IL 60515 PUBLICITY CHAIRMAN Larry Adams, 969 Park Circle, Boone, IA 50036 BOARD OF GOVERNORS Larry Adams, Thomas C. Bain, Michael Crabb, Jr., David A. Hakes, Richard Jones, Charles O'Donnell, J. Roy Pennell, Jr., Glenn B. Smedley, George W. Wait, M. Owen Warns, Wendell Wolka. The Society of Paper Money Collectors was organized in 1961 and incorporated in 1964 as a non- profit organization under the laws of the District of Columbia. It is affiliated with the American Numismatic Association and holds its annual meeting at the ANA Convention in August of each year. MEMBERSHIP-REGULAR. Applicants must be at least 18 years of age and of good moral charter. JUNIOR. Applicants must be from 12 to 18 years of age and of good moral character. Their application must be signed by a parent or a guardian. They will be preceded by the letter "T. This letter will be removed upon notification to the secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or to vote. Members of the A.N.A. or other recognized numismatic organizations are eligible for membership. Other applicants should be sponsored by an S.P.M.C. member, or the secretary will sponsor persons if they provide suitable references such as well known numismatic firms with whom they have done business, or bank references, etc. DUES -The Society dues are on a calendar year basis. Dues for the first year are $10, this includes a $2 admission fee. Each year thereafter the dues are $8, payable in U.S. funds. Members who join the Society prior to October 1st receive the magazines already issued in the year in which they join. Members who join after October 1st will have their dues paid through December of the following year. They will also receive, as a bonus, a copy of the magazine issued in November of the year ill which they joined. PUBLICATIONS FOR SALE TO MEMBERS We have the following back issues of PAPER MONEY for sale for 51.50 each. For orders of less than 5 copies at one time, please include 10.25 per issue for postage. We have only the issues listed for sale. Library Services The Society maintains a lending library for the use of members only. A catalog and list of regulations is included in the official Membership Directory available only to members from the Secretary. It is updated periodically in PAPER MONEY. For further Vol. 4, 1965, No. 2 (No. 14) (WA 10, 1971, No. 1 (No. 37) information, write the Librarian--Wendell Wolka, P.O. Vol. 4, 1965, No. 3 (No. 15) Vol 10, 1971. No. 2 (No. 38) Box 366, Hinsdale, Ill. 60521. Vol 10, 1971, No. 3 (No. 39) Vol Vol. 5, 1966, No. 1 (No. 17) 10, 1971, No. 4 (No. 40) BOOKS FOR SALE: All cloth bound books are 81/2 x 11" Vol. 5, 1966, No. 2 (No. 18) VolVol. 5, 1966, No. 3 (No. 19) VolVol. 5, 1966, No. 4 (No. 20) Vol 11, 11. 11, 1972, No. 1 (No. 41) 1972, No. 2 (No. 42) 1972, No. 3 (No. 43) FLORIDA OBSOLETE NOTES & SCRIP, Freeman . . . $6.00 Non-Member. . $10.00 Vol 11. 1972, No. 4 (No. 44) MINNESOTA OBSOLETE NOTES & SCRIP, Rockholt . S6.00 Vol. 6. 1967, No. I (No. 21) Vol. 6, 1967, No. 2 (No. 22) Vol 1967, No. 3 (No. 23) Vol 12, 12, 1973, No. 1 (No. 45) 1973, No. 2 (No. 46) Non-Member. . S10.00 TEXAS OBSOLETE NOTES & SCRIP, Medlar $7.50 Vol. 6, 1967, No. 4 (No. 24) Vol 12, 1973, No. 3 (No. 47) Non-Member. . S12.00 Vol 12, 1973, No. 4 (No. 48) VERMONT OBSOLETE NOTES & SCRIP, Coulter . . . S6.00 Vol. 7, 1968, No. 1 (No. 25) Vol 13, 1974. No. 1 (No. 49) Non-Member. . S10.00 Vol. 7, 1968, No. 2 (No. 26) Vol Vol. 7, 1968, No. 3 (No. 27) Vol 13, 13, 1974. No. 2 (No. 50) 1974. No. 3 (No. 51) NATIONAL BANK NOTE ISSUES OF 1929-1935, Vol. 7, 1968, No. 4 (No. 28) Vol 13, 1974, No. 4 (No. 52) Warns - Huntoon - Van Belkum 59.75 Vol 13, 1974, No. 5 (No. 53) Non-Member. . $12.50 VolVol. 8, 1969, No. I (No. 29) Vol. 8, 1969, No. 2 (No. 30) VolVol. 8, 1969, No. 3 (No. 31) VolVol. 8, 1969, No. 4 (No. 32) 13, 14, 14, 1974, No. 5 (No. 54) 1975, No. 1 (No. 55) 1975, No. 2 (No. 56) MISSISSIPPI OBSOLETE PAPER MONEY & SCRIP, Leggett S6.00 Non-Member. . S10.00 Vol 14, Vol 14, 1975, No. 3 (No. 57) 1975. No. 4 (No. 58) Write for Quantity Prices on the above books. Vol. 9, 1970, No. 1 (No. 33) Vol 14, 1975, No. 5 (No. 59) Vol. 9, 1970. No. 2 (No. 34) Vol Vol. 9, 1970, No. 3 (Nu. 35) 14, 1975, No. 5 (No. 60) ORDERING INSTRUCTIONS 1. Give complete description for all suns ordered. Vol. 9, 1970, No. 4 (No. 36) Index Vol. 1-10 81.00 2 Total the cost of all publications ordered. 3. ALL publications are postpaid except orders for less than 5 copies of Paper Photocopies of sold out issues may be ordered for 51.50 per issue. These copies Money. do not include ads. Copies with ads are available lor 82.50 per issue. The Society of Paper Money Collectors, Inc. 4. Enclose payment (U.S. funds only) with all orders. Make your check or money order payable to: Society of Paper Money Collectors. 5. Remember to include your ZIP COILE. P. O. Box 858, Anderson, S.C. 29622 6. Allow up to six weeks for delivery. We have no control of your package alterwe place it in the mails. Page 68 Paper Money Series 1869, One Dollar, Treasury Note. Whole No. 68 Page 69 (Editor's Note: This is the second installment of Walter Breen's series on the large size U.S. Legal Tender notes begun in Paper Money Whole No. 67 Chasin Rainbows and other Colorful Notes by Walter Breen, NLG The fourth issue of Legal Tender notes was emitted under the Act of March 3, 1863. This comprises the Series of 1869 ("Rainbow notes"), 1874, 1875, 1878, 1880, 1907, 1917 and 1923. It was during this period that an act of Congress fixed the amount of Legals in circulation as constant, new notes being issued to replace older ones turned in for redemption. Pursuant to the Act of May 31, 1878, no more and no less than $346,681,016 have remained outstanding until recently. It was ultimately because of this requirement that the recent Red Seal $100s were issued. I have been unable to ascertain why this particular amount has to remain outstanding. SERIES OF 1869 All bear the title "Treasury Note." They are called the "Rainbow" issue owing to a beautiful play of colors: The paper is white with blue regional stain; there are red and blue fibres (both looking more purple in the blue stain regions); large red seal which sometimes has a rosy or even tangerine look (more rarely maroon), and delicate green tracery in overprinted areas. Since these notes all bear a series date, some other device had to be adopted to avoid excessively large serial numbers. This was blocks: A complete block is the range of serial numbers of (SNs) from 1 to 10,000,000 with a single prefix letter. The prefix letter used depended on the denomination. After ten million notes of any one block were issued, a different prefix letter was adopted and the numbers resumed from 1. Series 1869, Two Dollars, Treasury Note. Page 70 Paper Money As formerly, these notes were printed from four-subject plates, generally lettered a, b, c, d, and consecutively numbered; the 1869s are all signed Allison and Spinner. Backs were engraved by one or another of the New York bank note companies, in or out of the "Association" (i.e. ABN). Printing, authenticating (overprinting of seals), numbering, trimming (cutting into single subjects), and distribution all took place at the Currency Bureau, which was at some time in the late 1860s officially designated the Bureau of Engraving and Printing. The issue of 1869 notes was between Oct. 9, 1869, and July 25, 1874. All 1869 notes have a 5-pointed star suffix to SNs; the concept of "star" replacement notes did not yet exist. The small red numerals sometimes seen are seal plate numbers; only the top note on a sheet normally showed such a number, ONE DOLLAR. Left, "Columbus Discovering Land", or "COLUMBUS/Discovery of Land," according to which specimen book one has seen, engraved by Joseph Ourdan. Center, vignette of Washington, engraved by Andrew Sealey after one of the Gilbert Stuart portraits. Right, elaborate counters. Treasury credit on right border. Back by NBN, featuring superimposed US left center, receivability and anticounterfeiting notices right center, ONE and 1 at ends, "space-filling" lathework throughout, intended as an anticounterfeiting technique; I have not ascertained why it was abandoned in 1874. (F-18; D.101-4; H-5) Total [42,456,812]. The following varieties are known. "Plain" paper (watermarked USUSUS. . .), without blue regional stain, with minimal fibres; this paper is the same as was briefly used in 1869 on the earliest of Fourth Issue fractional currency. First reported by Robert H. Lloyd, NSM, Nov. 1964. I have seen only one, block B, SN 20380, face plate 1. Evidently the issue was abandoned because this paper deteriorated rapidly, being weakened by the watermarking process. Instead of attempting use of "pink silk fibre" paper on these $1s, the Bureau went directly to paper with blue regional stain, as follows. Blue regional stain. Blocks B, K, V, Z and A, all with the star suffix. Numbering in block B is probably continuous from the first variety, above; the observed range is consistent with that hypothesis, though some overlap may occur. Blocks, B, K, V and Z were complete; block A was only about 1/4 complete. Until we have managed to verify that the Bureau's numbering machine could produce an 8-digit final (10000000), it is uncertain if block A has an official high of 2456812 or 2456816, the latter only if the numbering machine was incapable of the eight-digit number. It is much rarer than the other blocks, as one would expect. Observed ranges are of interest: B - 5 236256 — 8926615 Plates 1 to 14 K- * 27644 — 9598390 Plates 10 to 14 V- 5 828370 — 9298759 Plates 52 to 67. Seal plates 21, 23 Z- 5 883219 — 9515963 Plates 40, others A- 5 468324 — 799755 Plate 10 (reused), seal plate 5 (ditto) Anomalies similar to those in Fourth Issue Fractionals ti'41,3■F 7,14 Series 1869, Five Dollars, Treasury Note. 11iDLit *On VIE 114,111tW Whole No. 68 are reported. Kagin 258:1783, ex 1954 Central States sale, plate 1, prefix not mentioned, was described as having purple seal. Kagin 298:788 was described as having brownish seal. Either of these could as easily be chemical changelings (e.g. spontaneous oxidation of the unstable red inks then available) as true inking errors; I have seen neither. Total printed, 8,220,000 through June 30, 1870, 17,480,000 through June 1871, etc. Nothing has been deducible from these print figures, except that apparently the whole print order was put into circulation. TWO DOLLARS. Left, vignette of Jefferson, engraved by James Smillie; center, the Capitol Building, uncredited; right, elaborate counter. Treasury credit in left border. NBN credit in green at lower left, presumably for the overprinting plates. Back by ABN. (F-18; D.102-4; H-154) Total [25,255,960] Blocks E-* and U-* were complete, presumably to 10000000; block Z-*, which is rarer, is incomplete, presumably to 5255960. It is not known if any were printed on the watermarked paper. As of June 30, 1889, some 184,517 were still outstanding. Observed ranges: E-* 2435635 — 9817883 Plates 1 to 10 U-* 50536 — 9610666 Plates 1 to 35, seal plate to 15 Z-* 202218 — 4695280 Plate 7, others? FIVE DOLLARS. Left, vignette of Andrew Jackson, engraved by Andrew Sealey after Sully's portrait; counter with V above. Center, "The Pioneer," by Henry Gugler; commonly known as "Woodchopper." Right, counter with Page 71 5. Bureau credit at upper left, above series date. Back by ABN, another of those space-filling conceptions; receivability and anticounterfeiting notices in ovals flanking the large 5. Blue stain left of center. (F-64; D.105-4; H-245) Total [10,116,352] Block K-* complete, presumably to 10000000; the other block, which must have included notes numbered as high as 116352, has not been observed, and is doubtless of extreme rarity. It is not known if any were printed before the blue-stain paper was introduced. Observed ranges: K-* 11777 — 9177139 Face plates to 46, seal plates to 12 TEN DOLLARS. Left, "Daniel Webster," engraved by Andrew Sealey; center, small "jackass" eagle, engraved by Henry Gugler, so called because when inverted it suggests an asinine profile; right, "Introduction of the Old World to the New" (these titles found in the Bureau's original vignettes in specimen books), commonly known as "Presentation of Indian Princess" (Friedberg) or "Pocahontas Presented at Court." Bureau credit just below center of top border. Back by NBN, still another space- filling design featuring large counters each with diamond within rectangle. (F-96; D.110-4; H-466) Total printed and issued [8,522,124]. Fiscal report says 9,219,024, but it is believed that some of these were of the 1863 series. Block H-* only. Most of the uncirculated survivors come from a small hoard with SNs 4265xxx. Nos. H3530001 through H3532000 were stolen on June 11, 1870. Observed range: H-* 246478 — 8068425 Plates 1 to 18. No seal plate data Page 72 Paper Money Series 1869, Ten Dollars, Treasury Note. OTE Series 1869, Twenty Dollars, Treasury Note Photographs for this article were made available thru the courtesy of William P. Donlon and Krause Publications Series 1869, Fifty Dollars, Treasury Note, Whole No. 68 TWENTY DOLLARS. Left, vignette of Hamilton, engraved by Charles Burt, titled "Hamilton"; center, large counter; right, "Liberty" engraved by George W. Casilear. Bureau credit just below upper border. Back by ABN, another space-filler. According to Donlon, who has more patience in such matters than do I, the figure 20 is repeated some 105 times in the design, XX 103 times. (F-127; D.120-4; H-703) Total [3,658,120] A fair number of EFs survive, but very few in mint state. Observed range: A-* 5775 — 3558530 Plates 1 to 7. No seal plate data FIFTY DOLLARS. Left, "Return of Peace" (female holding statue of Mercury), engraved by Charles Smith. Center, rococo holder for bouquet of cereals, fruits and flowers. Right, "Henry Clay," engraved by Andrew Sealey. Bureau credit in right top border. Back by ABN featuring large 50 in circle, another "space-filling" concept. (F-151; D.150-4; H-928) Total [604,000] Issue withdrawn after the appearance of an immense quantity of counterfeits (plate B), by one Ben Boyd, which would be deceptive except that they lack the flourish between SERIES OF and 1869. Some of these later had the flourish added by hand. Treasury records say only 24 are outstanding (1948). Block Y-*, plates 1, 2, 3. The following survivors are traced: Y899 plate 2. Oat Bin Board. Dean Oakes. Y13537 plate 2. W.A. Philpott Jr., pictured in Limpert Page 73 Y13545 plate 2. Donlon:670, pictured in Donlon Y17882 Oat Bin Hoard Y31775 Oat Bin Hoard Y35497 J.M. Wade, 1971 CSNS:748 Y66473 plate 3. R.F. Schermerhorn, possibly ex 1956 ANA:1899 Y196130 L.S. Werner Y289651 Pvt. coll. Y323651 Plate 1. CMS, pictured in Hessler Y374832 Oat Bin Board, 1972 ANA:1076 Y405621 Ex W.A. Philpott Jr., D. DeVore, Bob Medlar at 1974 ANA Y495133 Plate 1. A.M. Kagin. Pictured in Friendberg Y523123 Pvt. Coll. Y561260 1965 Kreisberg-Schulman: 897, "VF" In addition, there are five other auction records which may be included in the above roster: {1) Grinne11:152, plate 1, VF. (2) Boyd:52, "VF," same? (3) Dr. Clifford Smith:1304, "Unc.," possibly the note W.A. Philpott had in this grade and sold in 1957 for $2,500, (4) Donlon:136, "AVF." (5) Kagin 279:283, "Good, repaired." None of the above could possibly be Ben Boyd's work, as among them only one has check letter B, (the Werner note) and it is genuine. ONE HUNDRED DOLLARS. Left, Lincoln, engraved by Charles Burt after a Mathew Brady photograph taken Feb. 9, 1864, the original glass negative of which was presented by Louis Rabinowitz to the Library of Congress, 1953. Page 74 Paper Money Series 1869, One Hundred Dollars, Treasury Note. Center, small head of Liberty wearing Phrygian cap. Right, "Reconstruction," engraved by Louis Delnoce. Bureau credit in center. Back by ABN, (F-168; D.100-4; H-1122) Total [371,040] Block W-*. As of June 30, 1889, 19,070 were outstanding; at present though, no up to date Treasury figures are available, 8 to 10 are estimated to survive in all (Hessler). The following survivors are traced: W68701 Plate 2. Donlon:674, Unc., probably ex Grinne11:165 W71287 Plate 2. 1965 Kreisberg-Schulman:901, pictured in Friedberg W88855 Plate 1. Oat Bin Hoard W167928 Plate 2. Oat Bin Hoard W175693 1971 ANA:1618, ex Lee-Freeman:2386, Laminated W204599 "Brussels":478, AU, $6,800 W212366 Pictured in Hessler. Well worn W266227 Plate 2, Pvt. coll. In addition, either or both the following may represent notes not included above: (1) Boyd:34, "EF, pinholes." (2) Dr. Clifford Smith:1205, "EF, corner reinforced." FIVE HUNDRED DOLLARS. Left, "Justice," engraved by Charles Schoff. Right, "John Quincy Adams," engraved by Charles Burt. Bureau credit at top border. Back by ABN. (F-184; D.1500-4; H-1322) Total [87,980] Block N-*. Issue withdrawn because extensively counterfeited; as of June 1889, only 499 were outstanding. At present only the following are reported; the two marked "genuineness not confirmed" are not thereby accused of being counterfeits, merely noted that I have not personally examined them. N16035 Pictured in Reinfeld. Genuineness not confirmed N31963 Federal Reserve Bank, N.Y. Pictured in Hessler N32610 1971 CSNS:749. Genuineness not confirmed N48792 Plate 1. Amon Carter Jr. Pictured in Friedberg ONE THOUSAND DOLLARS. Left, Columbus. Center, "DeWitt Clinton," engraved by Charles Burt. Bureau credit lower center. Back by ABN. (F-186d; D-1M-4; H-1379) Block Z-*. [87,100 printed; 79,709 issued] The following two are known to survive: Z29763 Plate 1. Check letter C. Amon Carter Jr., pictured in Friedberg. Z ? Plate ? Check letter B. Grinnell:180, "Fine, pin holes." SERIES OF 1874 Comprises $1, $2, $50 and $500 only, the two higher denominations to replace the counterfeited issue of 1869. All signed Allison-Spinner. All backs engraved by Columbian Bank Note Co., Washington, D.C., printed at the B&P. Suffixes on the $1 and $2 are ornaments like the Greek epsilon; suffix on the $50 and $500 a cross. ONE DOLLAR. Simplified version of 1869 type, smaller red seal with rays, now at left, red oval overprint at right. Printed between March 13, 1874, and March, 1875; issued Aug. 12, 1874—Sept. 13, 1875. Back features UNITED STATES OF AMERICA in saltire, the so-called "sawhorse" °Series 1874, One Dollar, United States Note. Whole No. 68 back. (F-19; D.101-4A; H-6) Total [18,988,000] Two blocks, one complete, the other nearly so. There was a small hoard of uncirculated exampoles, E8347xxx. Observed ranges: E-epsilon 23839 — 9770222 Official high 10000000 H-epsilon 627503 — 7334631 Plates to 44. Official high 18988000 TWO DOLLARS. Similar to the 1869 type, smaller red seal with rays, now at left, red ornament over Washington, D.C. at right. Printed and issued concurrently with the $1s. (F-43; D.102-4A; H-155) Total [8,260,000] Block E-epsilon. Observed range: E 702418 — 8230876 In addition, several are known from block B-epsilon. If these are genuine, and they appear to be, they were most probably made in error about 1877 and should have been of Series of 1875. (1) B 9241, plate 7, purplish-brown seal. Pvt. coll. (2) B 246602, plate 13. Pvt. coll. (3) B 1886573, plate 18. A.M. Kagin. One other is reported with brownish seal, Kagin 216:563A, no data on block or plate number. FIFTY DOLLARS. Left, "BENJAMIN FRANKLIN," engraved by Charles Burt, after the Duplessis portrait. Center, elaborate counter with "L." Right, "America," crowned with stars, holding sword, with eagle displayed below, also by Burt. Signatures Spinner and Allison ("transposed"), as on 1875, 1878, and 1880 series. Large Page 75 red L's overprinted at left and right central spaces. New back with roman L, 50, FIFTY and italic 50 in corners. (F-152; D.150-4A; H-929) Block E-+ (Maltese cross with small ends). [489,200] As of June 30, 1889, 45,899 were outstanding. At present I can trace ten: 26006 Plate 1. RARCOA 76458 Pvt. coll. 78416 CMB 78488 L.S. Werner 78588 Plate 1. Pvt. coll., ex 1964 ANA:1028 (?) 78516 Donlon:671, ex Grinne11:153; cf. 1963 FUN:301 91341 Oat Bin Hoard 156022 Oat Bin Hoard 193999 Oat Bin Hoard 395888 Plate 2. Pvt. coll., ex 1965 Kreisberg- Schulman:898, Kagin 307:318. EF, small edge tear. One of the above, possibly, is ex Boyd:38, "Fine, pinholes." FIVE HUNDRED DOLLARS. Left, "Victory" standing, holding wreath, engraved by Charles Burt. Center, large counter with 500. Right, "Maj. Gen. Joseph K. Mansfield," possibly also by Burt. Ornate red D 500 D overprinted at lower central space. Signatures Spinner and Allison, "transposed" as on later issues. (F-185a; D.1500-4A; H-1323) Total [56,000] Block Z-+. Only 647 were out- standing as of June 30, 1889. At present only two are traced: 5381 Plate 2. Amon Carter Jr., believed ex Grinnell: 178, "VF." 34626. Pictured in Hessler. Series 1874, Fifty Dollars, United States Note. Page 76 Paper Money SERIES OF 1875 Issue dates July 20, 1875, through June 20, 1870— overlapping in some denominations with Series of 1878. Denominations $1 through $500. On the $1, $2, $50 and $500, types are as in 1874 except for overprinting and series date. On the others, designs are changed from 1869. The first ones are signed Allison-New, the last ones Allison- Wyman. On those in which overprinting was done, SERIES 1875 A precedes B (and C, D, E on the $1s), and all of these precede the plain unlettered SERIES 1875; proof of this is found in the plate numbers and block/SN data. At this time the sequence of blocks was fixed for all types, denominations, and series (through 1927) as follows: A, B, D, E, H, K, M, N, R, T, V, X, Y, Z, with the exception that U and W are found in Nationals, and U-U occurs in 1899 $1 Silver Certificates. ONE DOLLAR. Allison-New. Type similar to 1874. Overprinted in red with 1875 and twice circularly SERIES 1875, the first ones with a letter within each circle. [26,212,000 all kinds] Blocks all have epsilon suffix. The following tabulation conveniently summarizes everything: F Series Prefix Observed Range Probable Range 21 1875A A 546630 — 834093 1 — 1044000 22 1875B B 128739 — 877640 1 — 988000 23 1875C D 273745 — 968833 1 — 972000? 24 1875D E 656025 — 675298 1 — 1172000? 25 1875E H 594845 — 700404 1 — 760000? 20 1875 H 1817898 — 9336543 760001? — 10906000? The notes with Allison-Wyman signatures, Series 1875, F-26, were issued in an amount of (apparently) [11,130,000]. Most are in block K-epsilon; plate numbers as high as 50. Observed range is 115380-9657184. There are, however, three anomalies for which I am unable to account (they appear to be genuine): M 68993, plate 79, G.G. Finnell; N 1572417, plate 79 (!), Kagin; N 1792443, no visible plate number, Stack's. TWO DOLLARS. Type similar to 1874 but overprinted like the $1. Again, the earliest (signed Allison-New) are overprinted SERIES 1875A (block A), 1975B, and 1875 (block B), in that order; the last ones, with SNs much higher in block B only, have Allison-Wyman signatures (F-47). In all [11,518,000]. The following tabulation conveniently summarized everything. F Series Prefix Observed Range Probable Range 45 1875A A 57268 — 976026 1 — 128000 46 1875B B 215247 — 556742 1 — 712000? 44 1875 B 1215286 — 5111532 712001 — 5160000? 47 1875 B 5170891 — 8984161 5160001 — 10230000? FIVE DOLLARS. Modification of 1869 type, different overprints; smaller plate check letters, left moved up, right moved down, etc. Seal at left; large red overprint ("floral ornament") at right. Back redesigned, notable for heart- shaped counters and a large empty space at left; by Columbian. Order of emission as in the $2s. In all [9,236,000]. The following tabulation summarizes what little is known of these. Bureau reports indicate 3,972,000 printed between July, 1876, and June, 1877, 2,116,000 from then through June, 1878, none later, Whole No. 68 Page 77 1 .; 'F'1■A'a TE. „ . Series 1875, Fiue Dollars, United States Note Series 1875, Ten Dollars, United States Note. Page 78 Paper Money Series 1875 One Hundred Dollars, United States Note. Pt PPE NUNII PP, DOPPANt leaving at least 3,148,000 between July, 1875, and June, 1876, which still does not help. The last (F-68) have Allison-Wyman signatures and numbering continued from F-65. F Series Prefix Observed Range Probable Range 66 1875A A 649122 — 780819 1 — 1960000? 67 1875B B 257753 — 981331 1 — 1200000? 65 1875 B 1665623 — 4529658 1200001 — 4800000? 68 1875 B 4993257 — 7201902 4800001 — 7276000? A hoard of at least 50 F-67s was discovered in Illinois. TEN DOLLARS. Modification of 1869 type, smaller check letters, different overprinting, different cartouche at left SN, small seal at left, red TEN within ornament at right, etc. Back redesigned, by Columbian, with large empty space at left. Order of emission: SERIES 1875A, 1875 (block A-epsilon), both sgd. Allison-New. [2,366,000] As of June 30, 1889, 127,356 were outstanding. The Series A notes were issued between Oct. 9, 1875, and Nov. 8, 1876; the others between Jan. 24 and April 5, 1877. From Bureau reports, it appears that 560,000 were printed prior to June 30, 1876, evidently only a part of the 1875A notes; the remaining 1,806,000 were printed in late 1876 and early 1877. The following tabulation conveniently summarizes all: F Series Observed Range Probable Range 98 1875A 16242 — 1488027 1 — 1510000 97 1875 1833319 — 2111590 1510001 — 2366000 TWENTY DOLLARS. Modification of 1869 type, no longer TREASURY NOTE but UNITED STATES NOTE, smaller seal at right, red ornamented XX's left and right, etc.; redesigned back, by Columbian, with large empty space at right, 20s and XXs in corners. Sgd. Allison-New. (F-128; D.120-5; H-704) Block A-cross. [1,250,000] Observed range 59128-1236639; plates 1 to 6. As of June 30, 1889, 116,130 were outstanding. FIFTY DOLLARS. Type of 1874, but series date changed. Block A-epsilon? Issued between June 9 and 20, 1877. (F-153; D.150-5; H-930) Signatures Wyman and Allison. [40,000] As of June 30, 1889, only 4,298 were outstanding. I have heard of only one, Grinne11:154, plate 1, check letter D, "two large pin holes in center, otherwise practically Unc." ONE HUNDRED DOLLARS. Modification of 1869 type, now reading UNITED STATES NOTE, smaller seal at right, top central floral design in red overprint, etc. New back, by Columbian, with 100s and Cs at corners, and a large empty space at right—possibly to make obvious the presence of fibres in paper. The 1875A, sgd. Allison-New, obviously preceded the 1875 sgd. Allison-Wyman. Total issued of both, [162,000] , of which only 23,389 were outstanding as of June 30, 1889. It appears that 126,000 1875A notes were printed between Aug. 31 and Oct. 9, 1875, and 40,000 more (nos. 126001-166000) between June 9 and 21, 1877; the total issued is 4,000 less, suggesting that the last 4,000 of the 1877 group may not have reached circulation. block A-Maltese cross. Of 1875A the following survivors are traced: 25014 Oat Bin Hoard, 1972 ANA:1079 Series 1878, Two Dollars, United States Note. Whole No. 68 38222 Plate 1. EF, two light folds. Pvt. coll. 92387 Donlon:675, "Extra Fine" ? Plate 2, check letter D (therefore SN divisible by 4, thus different from any of above), Grinne11:166, VF. ? Walton 1354, "Unc." Of 1875, Allison-Wyman, the following survivors are traced: 143371 If this is from Plate 2, and better than Fine, it may be ex Grinne11:167. 145832 L.S. Werner ? Unc., ex J.M. Wade (called F-169, but said to have these signatures). FIVE HUNDRED DOLLARS. Type of 1874 except for series date. New and Allison (F-185b). Wyman and Allison (F-185c). Total [56,800] of which only 2,408 were out- standing as of June 30, 1889. They were delivered as follows: July, 1875-June, 1876, 24,800; July, 1876-June, 1877, 21,100; July, 1877-June, 1879, 10,900. Probably block A-ornament (cross or bracket?). None seen; survivors doubtful. SERIES OF 1878 $1 to $10,000, inclusive. Types similar to 1874-75 except for signatures, which are Allison-Gilfillan; on the last $2s and the $5,000 and $10,000 notes, Scofield-Gilfillan. Backs are Bureau copies of the Columbian plates. This issue is the first completely engraved, printed, overprinted, etc., by the Bureau; hereaafter no more privately contracted plates. Page 79 ONE DOLLAR. [12,512,000] (F-27; D.101-7; H-14) Plates to 98 in block B-brace. The entire print order went into circulation. Block Observed Range Official Range A brace 313122 - 9060347 1 - 10000000 B-brace 23434 - 2257469 1 - 2512000 TWO DOLLARS. [4,676,000] Two signature varieties. Allison-Gilfillan, F-48, comes in plates 1 to 48, observed range 640841 to 4467311, except for a single anomaly for which I cannot account: 4780579, plate 56 (Kagin). The error, if any, in the official records, must originate with the Bureau as all records are consistent that only 4,676,000 were printed and issued; 57,643 were outstanding as of June 30, 1889. The other variety, F-49, with Scofield-Gilfillan signatures, is extremely rare; to date all seen are from plate 52. I have seen the following survivors, all in block A-brace, evidently scattered through the F-48s. 253127 Donlon:649, pvt. coll. Unc. 709422 1965 Kreisberg-Schulman:875. VG 712845 Pvt. coll. VF. Possibly ex Grinne11:71, Boyd :71. 1735263 Stack's March 1972: 811, Donlon 1/74:25, $1,050. F-VF In addition, there are evidently two others: Unc., Donlon:41, ex W.A. Philpott Jr., now in a Texas coll., according to the account in the Donlon 1/74 mail bid sale. "Fair," HR 11/69:3948, where erroneously claimed "only two sheets made, as the 4 or 5 specimens we know of Series 1878, Twenty Dollars, United States Note Page 80 Paper Money all have SNs within eight digits." (Don Taxay) I had no opportunity to see this note or the others to which he alludes. FIVE DOLLARS. F-69. [2,603,200?] Treasury records say 603,200, evidently a typographical error. Observed range 737471-2488026; plates as high as 32. Block A-brace. TEN DOLLARS. F-99. [2,600,000] The entire printage went into circulation. Observed range 415419-1971183. Plates as high as 15. Block A-brace. TWENTY DOLLARS. F-129. [2,140,000 printed; 1,740,000 issued] Issue interrupted by authorization of Series of 1880. Block A-brace. Observed range 391770- 1529010. Plates as high as 6. There were two small finds, 682xxx and 1013xxx. FIFTY DOLLARS. F-154. [210,000 printed and issued] 34,920 outstanding as of June 30, 1889. Block A-brace. "Transposed" signatures, Gilfillan and Allison. I have seen three: 70404 Plate 2. Pvt. coll. 83739 Pvt. coll. 91653 Pictured in Friedberg. One of the above, probably the last, is ex Grinne11:155, "practically Unc." ONE HUNDRED DOLLARS. F-171. [202,000 ptd. and issued] As of June 30, 1889, 38912 were outstanding. Block A-brace. I have seen four and know of a fifth. 10264 Plate 3. CMB. Pictured in Hessler. 71856 1965 Kreisberg-Schulman:902, "VF." 122281 A.M. Kagin 195232 Plate 2. Pvt. coll., ex Kagin's 1974 Metro. Washington sale:582. Unc., $11,000. Check letter C (unlike any of the above). Plate 2. Grinne11:168, later Kagin 279:277, still later Kagin 9/68 sale. FIVE HUNDRED DOLLARS. F-185d. [24,000 ptd. and issued] As of June 30, 1889, 4,139 were outstanding. Block A-brace. "Transposed" signatures Gilfillan and Allison. I have seen two and can well believe that these are the only survivors. 5786 Plate 2. Amon Carter Jr. Pictured in Friedberg. 19956 1956 ANA:1900, $5,300; later HR 11/69:3952, "Fine or so, several minute tears.. ." Neither Grinnell nor Wade owned one. ONE THOUSAND DOLLARS. F-187a. [24,000 printed and issued] As of June 30, 1889; 3,153 were outstanding. Block A-brace. Design modified from 1869: note change from TREASURY NOTE to UNITED STATES NOTE, large M below vignette, smaller seal moved to just right of vignette, large ornate red M overprint at lower right, smaller check letters now upper left and lower right; back entirely redesigned, with Bureau credit for both engraving and printing at bottom. At present I know only a single survivor, though the design continues through Series of 1880. 219 Ill. Hessler Continued on page 104 Whole No. 68 Allk AL 1977 11.11.A. RUCT1011 Kazirfs(.9 allanta. georgia LAST CHANCEFIN CONSIGNMENTS CALL AT ONCE! cam. lagz cooromoommmtgo Drirmv OUR CLIENTELE OF CURRENCY COLL- ECTORS IS ONE OF THE LARGEST NATIONWIDE YOUR MAJOR CURRENCY COLLECTION WILL BE FEATURED PROMINENTLY IN THIS OUTSTANDING SALE. Publishers of the DONLON CATALOG - U.S. Large Paper Money Reasonable Commission Rates Liberal Cash Advance Profusely Illustrated, Professionally Accurate Catalog Personal Hard-Bound Library Edition allit a©1111 (t cm-coime,o) nooso7c oips,E SINCE 1928 KAGIN'S NUMISMATIC AUCTIONS, Inc suite 600-608 capital city bank building des moines, iowa 50309 Page 81 Page 82 Paper Money Portrait of Judge Augustus B. Woodward as drawn from description. Courtesy of Burton Historical Room, Detroit Public Library. The early fiscal history of Michigan is so filled with failures and outright frauds that it is hard to imagine how its citizens managed to live and transact business under such conditions. Out of some 55 banks chartered under the General Banking Law of 1837, only three actually managed to redeem their notes during the disasterous period that followed. Many of the banks, in fact, had no intention of redeeming their notes, just hoping to elude the bank inspectors long enough to turn a profit. Michigan's initial experience with a fraudulent bank, however, had come much earlier—during territorial days, when the state's first bank proved to be its worst. It was many years before an efficient banking law straightened out the bankers, but it must have taken much longer for the memory of that first bank to fade. Mudge cWoodWird and the &Michigan Wildcat Michigan had been explored as early as 1610 by the French, but the area developed slowly and even when the fur trade increased, the trappers, voyageurs, boatmen and soldiers were the only white men in the area. In 1701, however, Antoine de la Mothe Cadillac was given permission to build a fort at the narrowest part of the river which connected the Great Lakes Erie and Huron. Eventually, both the fort and the river came to be known by the French word for narrows—Le De'troit. In return for a trade monopoly, Cadillac was to induce enough colonists for a permanent settlement. The fort's site was well chosen and the colonists living under its protection prospered with the fur trade. For nearly half a century, the early settlers of Detroit farmed, trapped and fished along the river. The conclusion of the French and Indian War in 1760, however, found the French settlement under the by Charles V. Kemp, Jr. Union Jack. Many of the settlers chose to remain in Detroit under British rule and life went on pretty much as before. The Treaty of Paris, in 1783, brought another change to the fort; control—at least in name—by the new government of the United States. Actually, it was 1796 before General Whole No. 68 Page 83 "Mad" Anthony Wayne finally evicted the British from their valuable fur post. In 1805, Michigan Territory was created out of what still remained of the old Northwest Territory. The form of government provided for the new territory consisted of only four men; a governor and three judges who assumed all a model, produced a plan for Detroit and convinced the citizens to rebuild according to it. Besides the rebuilding, there were other problems which required legislation to solve, and it soon proved necessary for both Hull and Woodward to return to Washington. While back East, Hull paid a visit to his hometown of The bank's sturdy building outlasted the bank itself, as this photo taken around the turn of the century, when Becks Cafe inhabited the structure, testifies. Photo courtesy of B.H.R., D.P.L. of the governmental functions of the judicial, legislative and executive branches. One of the first three judges appointed was Augustus Brevoot Woodward. Born in New York City in 1774, Woodward had been well educated there and in Philadelphia. In 1801 he moved to the still unfinished capital of Washington City and set up a law practice. While in Washington, the tall, craggy Woodward met and became friends with President Thomas Jefferson, a friendship that resulted in his appointment in 1805 as judge of Michigan Territory. With the other judges and Governor William Hull, Woodward arrived in Detroit just in time for the Territory's first catastrophe—a fire that completely leveled the town. Incorporated as a city in 1801, Detroit had some 500 citizens and 300 wooden buildings at the time of the fire. The first order of business, therefore, was to rebuild the city. Woodward, using the developing city of Washington as Newton, Mass. While there, he was approached by Russell Sturges, a Boston financier. Sturges and his associates proposed a bank for the Michigan Territory and they sought Hull's approval and aid. They quickly convinced the gullible governor of their honesty. The group promised a bank of discount and deposit, which they claimed would redirect the fur trade from Montreal and Quebec to Boston and New York and also help attract investors to the Detroit area. Hull was well known for his integrity, but must have let himself be completely carried away by the bankers' arguments. He never stopped to consider that such an ambitious project was hardly needed in a small frontier town where all bills were payable in produce and as a critic would later sneer "the only thing to discount were turnips." Instead, Hull wrote to Woodward that "A very rich and respectable company of merchants in Boston have agreed to make an establishment in our Territory to carry on the fur Page 84 Paper Money Initial issue of notes with first obligations and signature of A. B. Woodward. Photo courtesy of B.H.R., D.P.L. trade. It is impossible that company of more wealth, intelligence and spirit could have been found." Unfortunately, Hull did not comprehend just how much spirit the company actually possessed. So, when Hull returned to Detroit, he had a vault door, iron window bars, a quantity of gold and an experienced cashier in tow. The cashier, William Flanigan, had received his experience at the Boston Exchange Office. This interesting institution had been incorporated in 1804 by the Massachusetts legislature for the purpose of regulating the small state banks which had sprung up outside of Boston. The notes of these "country banks" were widely circulated and following Gresham's Law, tended to drive the notes of the more stable banks out of circulation. Although it had been planned for the Exchange Office to regulate these notes, the man who came to control it had much different ideas. Instead, Andrew Dexter in- geniously used the Exchange to make a fortune for him- self. Realizing that the banking business, which was still new and unhampered by laws, offered great opportunities, he purchased banks as far away from Boston as possible. He owned banks in Maine as well as Massachusetts and he also owned the notorious Farmer's Exchange Bank of Rhode Island. All of these concerns circulated their relatively worthless notes as far as possible from their own offices. When any of them were presented for payment, they were redeemed with a draft on the Boston Exchange Office, where the draft was paid in notes of one of Dexter's other banks. This was a highly lucrative business and it is probable that Dexter was a force behind the Detroit Bank from the beginning. Woodward became just as enthused abut the bank plan as Hull. They believed that it was just what Detroit needed; the bank would make the city the financial center of the West and bring investment capital into the area. So, when the judge returned to Detroit with two of the financiers and $19,000 in gold, the petition for the bank was readily approved. The six-part charter, outside of some revisions insisted upon by Woodward, appeared to have been written by the financiers themselves. There was no limit on debts and loans, no security required for note issues and no provision for regulating or redeeming notes. Capitalization was originally set at $100,000 and the charter was to expire in 30 years. Woodward, however, did not believe that anyone who desired to invest should be prevented from doing so and had the capital increased to $1 million. Also, to prevent "intrigues" when the charter came up for renewal, he had the period increased to 101 years. Finally, he insisted that the charter could be repealed any any time the bank was deemed to operate improperly. These revisions were virtually the only honest acts ever connected with the bank. A copy of the charter was forwarded to Congress for approval, but no time was lost in waiting for the O.K. A lot was purchased at the corner of Randolph St. and Jefferson Ave. for $475. A fine two-story brick building was then erected at a cost of $8,000, making it the most expensive building in Detroit. Woodward, widely respected in the city, was elected as president of the bank, much to his surprise and Hull's pique. Investors were allowed to pay in installments, the first to be only $2, but only 24 Detroiters could be persuaded to invest. Governor Hull subscribed for just 10 shares; while Woodward, who really had no intention of taking an active part in the bank prior to his election as president, spoke for only one share. The Territory of Michigan was allowed 10 shares and the remaining 95 percent of the stock was taken by the Boston group. As soon as possible, President Woodward and Cashier Flanigan began the long task of signing the newly printed bank notes. The first issue was dated Oct. 14, 1806 and consisted of $2, $3, $5 and $10 denominations. The notes were typeset and rather plain and stated that the president and directors of the bank promised to pay the bearer on demand—if he could catch up with them. Whole No. 68 As soon as the notes were signed, the two Bostonians departed with their carpetbags stuffed full of some $163,000 in bills. Evidence has been found to suggest that these notes were taken East, to be loaned for a period of not less than a year. In all probability the borrower was the Boston Exchange Office and the notes were used to redeem any other of Dexter's notes which the Exchange might receive. The Detroit Bank notes circulated initially at a discount of from 10 percent to 25 percent and the quantity of notes in circulation in the East must have given Detroit an instant fame of sorts. So long and difficult was the trip to Detroit, that it was many weeks before any of the bills found their way home. It is believed that the first $5 bill presented at the bank was actually redeemed; due, no doubt, to the teller being too surprised to resist. Out of some $1 million in notes which were to be issued by the bank, however, the only other customer to meet with such good fortune was a local schemer who proved himself to be a match for the Boston sharpies. Conrad Ten Eyck was a shrewd, thrifty Dutchman who ran a popular inn along the Chicago road. He was well known throughout the area and was called "Uncle Coon" for his sly sense of humor. Ten Eyck had watched the Detroit Bank's development with some suspicion. While on a trip to Albany, the Dutchman was approached by a nervous young man who was anxious to rid himself of some bank notes. Upon examining them, Ten Eyck discovered that they were from the Detroit Bank. He shared the stranger's apprehension, but the price was attractive and a very profitable scheme began to take shape in Ten Eyck crafty mind. Directly upon his return home, Uncle Coon appeared at the cashier's counter and presented the astonished Flanigan with $500 of the bank's notes. Quickly recovering his aplomb, Flanigan offered new bills in exchange, but Ten Eyck refused, holding out for hard money in no uncertain Page 85 terms, threatening the bank's reputation if he did not get silver for his notes. Flanigan went into hurried conference with his colleagues and they managed to scrape together enough specie to redeem Ten Eyck's hoard. Happy both with his profit and having put one over on the bankers, Ten Eyck returned to his roadhouse where he gladly vouched for the bank's reliability to all who asked. In the Spring of 1807, Sturges disappeared from the scene and Dexter began buying out the other stockholders until he had complete control of the bank. In June, he sent his father and brother to Detroit to manage his holdings. Encountering some difficulty with the president, the Dexters soon found it necessary to reorganize the bank. James Henry, a prominent local merchant, was selected as the new president. Although Woodward continued to support the bank, or at least the idea of a bank, it is possible that he no longer wished to be associated with the Detroit Bank. A new note issue followed, some with Henry's signature and some with the forged signature of Woodward. The obligation on the new notes was altered to make the stockholders personally responsible. Few of these notes were circulated in Michigan as they were too easy to present. Most were sent East and notes of the Farmer's Exchange Bank made their way to Detroit. Dexter had great success with his banking empire, but in 1807 he branched out into project that ruined him. In that year, he began construction of the seven-story Boston Coffeehouse, a project that eventually tied up $800,000 of his funds. In 1809, a concerted effort by other Boston bankers forced his collapse by their demand for specie for a large quantity of notes on Dexter's banks. Dexter's house of cards tumbled to the tune of $1,250,000. The Farmer's Exchange Bank alone had $580,000 in outstanding notes against assets of $86.46. Down, but not out, the Later issue with different obligation and forged signature of A. Woodward. Photo courtesy of B.H.R., D.P.L. The President arrc Directors promise to pay out the Capita l nd'ands thereof to or• bearer on demand_and the Stockholders jointly and severally guarantee the payment at their at e President anti Directors of the promise to pay out of the Capital Stock and It r ds 3 or bearer on demand ckholder jointly and severafly guarantee the pay?, en a Page 86 Paper Money Later issue with signature of James .Henry as president. B.H.R., D.P.L. enterprising Dexter moved South and continued to operate his schemes for many years. Meanwhile, in the nation's capital, the Detroit Bank was becoming a source of increasing concern. Dexter had many enemies in Boston and after they realized his connection with the Michigan hank they began to call attention to it in Congress. James Madison, then Secretary of State, requested the territorial law regarding the bank's creation. The Secretary of War warned the Detroit fort's commander against paying his troops in the bank's notes and Albert Gallatin, Secretary of the Treasury, warned President Jefferson "That the bank must be either a landed or swindling operation speculation" and that the motives of its officers should be inquired into. Judge Witherell, another of the Territory's judges, was directed to initiate the inquiry and when Congress received his report, the charter of the bank was revoked on March 3, 1807. Governor Hull had already reached the sad conclusion that the bank for which he once had such high hopes was a fraud. When Dexter attempted to operate it as a private bank, Hull combined with Judge Witherell to pass a law with severe penalties for the unauthorized issuance of bank notes. The law was passed, however, only because of Judge Woodward's absence. Woodward still supported the idea of a bank. He had made enemies during his term as bank president, including the editor of the Detroit Gazette. These men had used Woodward's connection with the bank to good advantage in their attacks upon him. This only made him more determined, and eventually, Woodward succeeded in having the anti-banking law repealed. Despite the repeal, the Detroit Bank never re-opened. Its managers had succeeded in issuing some $1,500,000 in largely worthless currency, out of which only some $12,000 actually circulated in the Michigan Territory. In 1809, the bank closed its doors for the last time and Cashier Flanigan left for the East. The damage done to Michigan's growth and confidence by the Detroit Bank is easy to imagine. It was fully 10 years before another financial institution opened in the Territory. During this period, there was no means of discounting notes, no safe place for the deposit of funds and the only medium of exchange besides coins were notes from inconveniently distant banks. Eastern capitalists bypassed Michigan as a site for investment, thus stagnating the economy. It was not until 1819, when the Bank of Michigan began, that the citizens of the Territory could enjoy the benefits that honest banking can bring. While the break with Hull and the other judges caused permanent estrangement for Woodward, he continued for many years at his post as territorial judge, despite frequent criticism. In 1824, Woodward's name was not submitted to President James Monroe for reappointment. This was due to a secretly made accusation of drunkeness. As soon as he learned of the charge, Woodward left for Washington to clear himself. The highly respected Michigan Governor, Lewis Cass, also reacted with a strong letter of defense. Although Monroe was convinced of Woodward's innocence, the Michigan seat which he had held so long had been filled and Woodward received a new appointment in Florida Territory. He died there in 1827, serving the citizens of Florida as he had served those of Michigan, bringing law and a sense of civilization to the American frontier. References: The Story of Detroit - George B. Catlin. The Detroit News 1923. Justice Woodward and the Michigan Territory - Sister Marie Heyda. Michigan History Vol. 51. Banks and Banking in Michigan - T. H. Hinchman. The First Bank in Michigan - William L. Jenks. Michigan History Vol. 1. History of Banking and Banks and Bankers in Detroit - Emory Wendell. Detroit and its Banks - Arthur M. Woodford. Wayne State University 1974. OTIEN ea:awn • satos7.4_ 40.10jgral 4451 ciitwity) "Wd14.4.1.tvit4111.1t1141.1=11.1.4,f4A11/1411.14jituma .• • • • Xii/Okil 44 ,,,4413,3,1& %//4/XitiVe)- Whole No. 67 Page 87 NEW YORK STATE CURRENCY WANTED NATIONALS ALL SIZES AND TYPES Alexandria Bay 5284 Amityville 8873 Babylon 4906 Babylon 10358 Baldwin 11474 Bay Shore 10029 Bellerose 13234 Bellmore 11072 Bellport 12473 Bridgehampton 9669 Brooklyn (Long Island N.B.) 12885 Brooklyn (Nassau N.B.) 658 Cedarhurst 11854 Central Islip 9322 Cutchogue 12551 East Hampton 7763 East Islip 9322 East Northport 12593 East Rockaway 12818 East Setauket 11511 East Williston 13124 Farmingdale 8882 Floral Park 12499 Franklin Square 12997 Freeport 7703 Freeport 11518 Glen Head 13126 Great Neck 12659 Greenport 334 Greenport 3232 Hampton Bays 12987 Hempstead 4880 Hempstead 11375 Hicksville 11087 Huntington 6587 Inwood 12460 Islip 8794 Kings Park 12489 Kings Park 14019 Lake Ronkonkoma 13130 Lindenhurst 8833 Long Beach 11755 Long Beach 13074 Lynbrook 8923 Lynbrook 11603 Manhasset 11924 Mattituck 13445 Merrick 12503 Mineola 9187 Mineola 13404 New York City (Dunbar N.B.) 13237 New York City (Long Island, N.B.) 12885 New York City (Nassau N.B. 658) Northport 5936 Oceanside 12458 Patchogue 6785 Patchogue 12788 Port Jefferson 5068 Riverhead 4230 Rockville Center 88/2 Rockville Center 11033 Rossevelt 11953 Roslyn 13326 Sayville 5186 Smithtown Brancn 9820 Southampton 10185 Valley Stream 11881 West Hempstead 13104 Westbury 11730 Woodmere 12294 I also need Obsolete Currency and Scrip from any of these above towns as well from: BROOKLYN LONG ISLAND PORT JEFFERSON FREEPORT ORIENT POINT SOUTHOLD JAMAICA GREENPORT GLEN COVE SETAUKET WILLIAMSBURGH SOUTH HUNTINGDON Suffolk County Bank of Sag Harbor Interested also in Chicago, Illinois #12227--Douglass National Bank. I will also buy old "Satirical" cartoon currency poking fun at political candidates. Also needed are any bills of any country, any series with repeater numbers similar to 20202020, 00002020, 2020 DR. ALAN YORK NUMBER ONE MAIN STREET, EAST HAMPTON, NEW YORK 11937 516-324-1024 Page 88 Paper Money A FINE OFFERING OF OBSOLETE UNCUT BANKNOTE SHEETS These items are getting harder and harder to find due to the fact that our friends the scissor slingers have been cutting them up to sell the notes singly! It would be wise to put away some sheets now while they are still available. Every day that passes fewer uncut sheets remain available for the collector. Listed below is a selection of uncut obsolete sheets from common to very rare. I hope there is something there to please you. If you don't find what you want drop me a line, I might still be able to help. John All sheets in Ex-Fine to UNC. condition or as otherwise stated. SATISFACTION GUARANTEED! CANADA Champlain and St. Lawrence R.R. Co. 71/2d-71/2d-15c1-2s' 6d-2s'6d (6-note sheet) Railroad trains & Coins on all notes very scarce denominations $65.00 CONNECTICUT Norwich Bank, Preston (sheet of two engraved checks) Rawdon, Wright, Hatch & Edson $15.00 Norfolk Bank 1-1-2-3 Red OP Very rare sheet Attractive equestrian vignettes $150.00 Norfolk Bank 20-50 Red OP Very rare sheet State arms. Red lacework over entire sheet $150.00 Union Bank of New London 3-10-20-50 Red OP Connecticut's first state chartered bank $45.00 City Bank of New Haven 1-1-2-3 Red OP New Haven village green. Very attractive sheet $25.00 City Bank of New Haven 5-5-5-10 Red OP Large steam boat. General Warren $25.00 City Bank of New Haven 50-100-20-20 Red OP New Haven village green. Denomination on reverse ... $30.00 SPECIAL ... Set of one each of the above three City Bank sheets $65.00 Shetucket Bank, Norwich 1-1-2-3 Red OP Rare sheet Pastoral scenes, family & mariner. Attractive sheet $85.00 Bank of New England, East Haddam 1-1-2-5 Green OP Steamboat, shipbuilding. One of the prettiest sheets $15.00 Bank of New England, East Haddam 3-5-10-20 B&W Two different steamboats, shipbuilding $15.00 Bank of New England, East Haddam 3-5-10-20 B&W Similar to above sheet except that an engraving of the Conn. State Seal appears on each note $20.00 Stonington Bank 5-5-10-20 AB&C Durand Neptune and other allegorical figures $25.00 Stonington Bank 1-1-2-3 Red lacework over entire sheet Whaling, steamship, mariner. A beautiful sheet .. $30.00 GEORGIA Bank of Augusta 5-5-5-5 Rawdon Wright Hatch & Co $18.00 Bank of Augusta 4-4-4-4 (Double denomination sheet) Six script notes appear on other side of the sheet. Unusual and very scarce $55.00 INDIANA Savings Bank of Indiana, Connersville 1-3 Coins, Cherubs & Indians on front & back of each note. Very attractive & very rare in sheet form $225.00 Whole No. 68 Page 89 LOUISIANA VERMONT New Orleans Canal & Banking Co. 10-10-10-20 . $10.00 New Orleans Canal & Banking Co. 20-20-50-100 Blue OP $10.00 Canal Bank 100-100-100-100 Rawdon, Wright, Hatch & Edson $10.00 Canal Bank 10-10-10-10 Rawdon, Wright, Hatch & Edson $10.00 Citizens Bank of Louisiana, New Orleans 1-1-2-3 $10.00 MARYLAND Hagerstown Bank 10-10-5-5 Red OP Beautiful sheet for framing and hanging on wall $13.00 MICHIGAN Bank of Michigan, Marshall 1-3 Pastoral scene. Head of Newfoundland dog. Franklin teaching youth ... $18.00 Millers Bank of Washtenaw 1-2-3-5 (Writing on scroll) $25.00 Tecumseh Bank 1-1-3-5 Attractive sheet $35.00 NEBRASKA Bank of Florence 1-2-3-5 Attractive vignettes ... $40.00 NEW HAMPSHIRE Farmington Bank 2-1 Pastoral scene & spread eagle $13.00 Piscataqua Exchange Bank 20-50 One light fold Very scarce in sheet form $45.00 NEW YORK Sackets Harbor Bank, Clayton 1-2-3-4 Very fine with 6-7 light to medium creases. Lower left corner of sheet snipped not affecting note. Desireable sheet with elusive $4 note $165.00 OHIO Franklin Silk Co. 5-5-5-10 Rawdon, Wright, Hatch, Edson $25.00 RHODE ISLAND Warwick Bank 5-5-10-20 Red OP Signing of Declaration of Independence on the $20 note. Very scarce and desirable sheet. Light folds $45.00 New England Commercial Bank, Newport 1-1-2-3 Green OP $13.00 New England Commercial Bank, Newport 10-5-5-5 Green OP $13.00 West River Bank, Jamaica 1-2-3-5 Red OP Cherubs and silver dollars on all notes. Light folds between notes $30.00 Same as above but Unc. sheet. Very attractive .. $45.00 West River Bank, Jamaica 20-50 Red OP Light fold between notes. Very scarce and desireable sheet . $50.00 Bank of Bennington 50-100 Very rare sheet with nice vignettes. Light folds $75.00 Vermont State Bank, Burlington 1.75-1.50-1.25-.50-.75 A super denomination sheet. Perkins plate. Half dozen light folds like most of these sheets have. A very scarce example of early banknote engraving $125.00 Vermont St ate Bank, Westminster (Similar to above) $125.00 Vermont State Bank, Middlebury (Similar to above) $125.00 Bank of Windsor 1-1-2-3 (Partially signed sheet) . $28.00 Windham County Bank, Brattleboro 1-3-5-10 Red OP Very scarce in sheet form. Beautiful vignettes ... $95.00 Windham County Bank, Brattleboro 1-1-2-5 Green lacework Very scarce in sheet form also. Attractive vignettes $95.00 WISCONSIN Bank of Sheboygan 1-2-3-5 Red lacework. Beautiful sheet. Attractive vignettes and rare. Three very light folds $175.00 Terms: 15% discount on any sale of three (3) or more sheets. Cash or check with order. All notes subject to prior sale. WANTED OBSOLETE BANKNOTES AND/OR UNCUT SHEETS FOR MY RESEARCH COLLECTION BEST PRICES PAID! Specializing in Obsolete and Broken Bank Notes and Sheets of the New England States BUY - SELL - TRADE C. John Ferreri MEMBER OF: ANA NENA SPMC P. 0. Box 33 STORRS, CONN. 06268 1-203-429-6970 Page 90 Paper Money Idaho's unique No. 1 territorial National Bank Note. Second charter Brown Bank, 1882 series, Fr. #480, issued by the First National Bank of Lewiston, charter 2972 granted June 11, 1883. The Idaho Je:syel.-;; i The excessively rare Idaho No. 1 territorial National Bank Note has rightly been called the "gem of territorials." Through the gracious cooperation of SPMC member Paul C. Keeton, who supplied the notes illustrated here and the brief sketches of early Idaho history, we are able to acquaint our readers with the area's persistent struggle to gain statehood and financial maturity. The bill creating Idaho Territory was signed by President Lincoln on March 3, 1863. The first session of the Territorial Legislature convened on Dec. 7, 1863, at Lewiston and adjourned Feb. 4, 1864. A second session met at Lewiston Nov. 14, 1864 and passed a bill on Dec. 7, 1864, effective Dec. 24, 1864, designating Boise as the permanent capital. No. 1 Territorial National Bank Note This note was printed from a 10-10-10-20 plate layout with serials 1 to 560, producing 1,680 $10 and 560 $20 notes, total value of $28,000. They were signed by John P. Vollmer, president, and John H. Evans, cashier. Officers at the time of establishment were Vollmer, president; V.P. Ralston, vice-president; M.W. Bonner, treasurer; J.H. Evans, cashier, with G.W. Hawkinson and Arthur E. Clarke, directors. Capitalization was $50,000 (paid up). Although the bank's charter was sold in 1946 to The First Security Corp., the original bank name has not been changed and business is today being conducted under it. A knowledge of early Idaho history, with its Indian wars, rich gold discoveries, cattle feuds, raw lumber camps and crime counterpointed by missionary activities, is necessary for an understanding of the growth of banking and commerce. The large expanses of the Northwest Territory remained untouched and unexplored until President Jefferson sent out the Lewis and Clark Expedition in 1804. This party included the first white men to arrive in the Idaho region. In 1820 Congress established Oregon Territory consisting of what is now Oregon, Idaho and Washington. Idaho remained a part of Oregon Territory until 1863 when it separated as a distinct territory. I The underst d hoeing been appointed Governor of the Territory of Idaho, and lied according to law, and having entered Said Territory n the Tenth In- stant, will proceed to organize the Seine, according to the provisions of the Act of Congress, approved March 3rd, 1863, aid Ex Officio will discharge the duties of Soper- tniendent of Indian .4f fairs. Girt= under my hand and seal this tenth day of July, One Thousand Eight Dila- dred and Sixty-Three. W. II. WALLACE Gov, Idaho Territory and Supt. of Indian Affairs Lewiston, I .T . July 10,1862 Attent. WM. B. DANIELS, Secretary Idaho Territory Whole No, 68 Fur traders and trappers exerted a strong influence on the development of Idaho, establishing roads of commerce in the area. Fort Boise, established about 1834, served as a trading post for the Hudson Bay Fur Co., whose chief purpose was to hold the Northwest region for Great Britain. The stampede to Idaho occasioned by the fabulous gold discoveries turned the tide of commercial progress. The ordinary medium of exchange was gold dust. The person wishing to make a payment carried it with him in a buckskin-like purse and weighed it out on the spot. Gold scales were common in business places and miners' cabins. Between the years 1862 and 1879, greenbacks and National Bank currency were shunned. Even after passage of the Specie Act of 1878, they were not generally accepted for goods or services. Such notes were practically non-existent in the Far West and on the Pacific coast because of their unstable value due to gold fluctuations during the Civil War. During 1863 currency values slipped down to 70% in terms of gold; in 1864 they went as low as 43%, but rebounded to 70% by 1865. As in the state of Nevada, Idaho was recognized by the nation for its valuable mineral resources and mining became its chief industry, with outstanding production during the 1870s and 1880s. Gold, antimony, zinc, phosphates, cobalt and silver were mined then, and even today the Sunshine Silver Mine in the northern part of Idaho is the largest such mine on this continent. Lewiston was established in 1861 after the spectacular Page 91 gold discovery in Clearwater County in 1860. Situated at the confluence of the Clearwater and Snake Rivers, it was named for Meriwether Lewis of the Lewis and Clark Expedition. The discovery was made by Capt. E.P. Pierce of Walla Walla, Washington after he heard that the Nez Perce Indians had been bringing in gold from the area. The Boise Basin, south of the discovery area, also developed into another rich source of gold. It has been said that $250 million in gold was extracted between 1861 and 1885. IDAHO'S TERRITORIAL NATIONAL BANKS Each of the Idaho territorial National Banks played its own integral part in the shaping of the area by contributing to local business and industrial development which eventually enabled the territory to achieve statehood. Over the years collectors of National Currency have wondered whether an Idaho territorial note would ever surface. Finally early in 1974, some 107 years after the first Idaho territorial National Bank was chartered, such a note First National Bank of Lewiston, Idaho Territory, 1883— appearance of the bank during its first year of business. There is no outward sign indicating that a National Bank occupied the building; the bank entrance was at the far left through the arched door entrance. The first wagon in the picture is occupied by soldiers on their way to Fort Lapwai, 12 miles outside of Lewiston. The second wagon near the bank entrance is the stage to Uniontown, Wash., 17 miles west. Page 92 Paper Money The First National Bank of Lewiston as it appeared during the Christmas holiday, 1929. was recorded. Moreover, it rounded out the roster of notes reported from the 14 territories which had banks issuing National Currency. It is difficult to understand why it took more than a century to pass before an Idaho Territorial Note appeared; (a $5 from charter #1668) in view of the fact no less than eight territorial National Banks had been chartered in the territory: Charter Number 1668 2972 3023 3142 3408 3471 3895 4023 BANK TITLE The First National Bank of Idaho, Boise The First National Bank of Lewiston The Lewiston National Bank, Lewiston The First National Bank of Ketchum The First National Bank of Moscow The Boise City National Bank, Boise The First National Bank of Hailey The First National Bank of Pocatello YEAR ESTABLISHED City 1867 1883 1883 1884 1885 1886 1888 1889 The First National Bank of Lewiston was the first National chartered in the northern sector of Idaho after that area had become progressively commercialized in the early territorial days. (Lewiston was first settled May 13, 1861; the town site was platted in October, 1861; the first government was organized in February, 1862; it was incorporated by the Washington Territorial Legislature Jan. 15, 1863 and re-incorporated by the Idaho Legislature Dec. 27, 1866.) The bank grew out of the business activities of John P. Vollmer, who was born in Germany in 1847. He graduated from Northwestern Christian University and went went in 1868. First locating in Walla Walla, Wash. to operate a refinery, he later moved to Lewiston to open a general store. His customers were trappers and miners, to whom he extended financial and safe-keeping services. On this foundation Vollmer and his partner, Levi Ankeny, established a private bank in Lewiston. In 1878 Ankeny founded the First National Bank of Walla Walla, the oldest in Washington. In 1883 Vollmer founded the First National Bank of Lewiston and served as its first president. He was succeeded upon his death in 1910 by his son-in-law, Arthur E. Clarke. Vollmer became known as the "banking king", forming his own chain of banks in Grangeville, Culdesac, Genesee, Kendrick and Craigmont in Idaho and Clarkston and Asotin in Washington. These were known as the "Vollmer chain." Types of seals used on the Idaho Brown Backs: 1. Territorial Seal 2. Idaho State Seal 3. Eagle Shield 1. Territorial seal—central shield with spread eagle at the crest. "The Union" appears on ribbon below with the engraved date of 1863. The first territorial National Bank in Idaho was chartered in 1867; hence this seal is excessively rare. 2. Idaho state seal—official seal of the state, with an elk at the crest of the shield depicting a river and mountains. At left is the figure of Liberty and to the right is a farmer. This seal is not described by Dr. Limpert. 3. The Bureau heraldic eagle shield with its flag and intertwining script "US" was used in the right panels of the reverses of the two Brown Backs illustrated here. Four other types appeared on second charter notes. 4*, . t ',""4 ti ullk 1 .041444d ',C.';)" Whole No. 68 Third charter Date Back $50 note on First National Bank of Lewiston, Fr. #664. This note was printed from the odd two-subject 50-100 plate layout, with the serials starting with #1 and ending with #440. There were 440 of the $50 notes printed from this type of plate for a total value of $22,000. The note is signed by John P. Vollmer, president, and by his son-in-law, Arthur E. Clarke, as cashier. Page 93 Second charter Brown Back, with the change of status from "Idaho Terr'y" to "State of Idaho." These notes were also printed from a 10-10-10-20 layout; serials for this printing started with #561 and ended with #2500. There were 5,817 of the $10 and 1,939 of the $20 issued, for a total value of $96,950. They were signed by John P. Vollmer, president, and C.W. Kroutinger, cashier. ('I 44.0) 4,SULAS441414,7 //,!, • / „ 87 a to ,' ^ , i4 VAMilrit..ClatrAt.t..:4*33,14rt.r,=4/tVeadAK c1/41 N, wait** P01:1' 2972 Third chartercharter Plain Back $100 note on First National Bank of Lewiston, Fr. #675. This note was printed from a 50-50-50-100 plate layout, with the serials starting with #1 and ending with #1720. Total value of the $100 notes was $172,000. It was in the interim between issuance of the Third $50 Date Back note and the $100 Plain Back note that cashier Arthur E. Clarke succeeded his father-in- law. John P. Vollmer, as president. The cashier's signature is that of G.W. Hawkinson. THE INITIAL NATIONAL BANKS ESTABLISHED IN EACH OF THE 10 DIFFERENT TERRITORIES AND STATES WEST OF DENVER Bank Title Location Year Est. Charter number Status at the time 1. First National Bank of Nevada Austin, Nev. 1865 1331 State 2. First National Bank Portland, Ore. 1865 1553 Territory 3. Miners National Bank Salt Lake City, Utah 1866 1646 Territory 4. First National Bank Helena, Mont. 1866 1649 Territory 5. First National Bank of Idaho Boise, Ida. 1867 1668 Territory 6. First National Gold Bank San Francisco, Calif. 1870 1741 State 7. First National Bank Santa Fe, N.M. 1870 1750 Territory 8. First National Bank Cheyenne, Wyo. 1871 1800 Territory 9. First National Bank Walla Walla, Wash. 1878 2380 Territory 10. First National Bank Tucson, Ariz. 1882 2639 Territory References: Reminiscences of Idaho, W.A. Goulder, 1909 History of Banking in Idaho, Washington University, 1940 National Bank Note Issues, 1863 - 1935, Louis Van Belkum The Nevada Sixteen National Banks, 1974, M. Owen Warns Reports of the Comptroller of the Currency, Lewiston Morning Tribune. Page 94 Paper Money WANTED OKLAHOMA OKLAHOMA NATIONAL BANK NOTES SMALL SIZE 1929 5126 WYNNEWOOD 7811 WALTERS 9964 GUYMON 0875 ERICK 5272 NEWKIRK 7822 HASKELL 9968 CORDELL 0960 POCASSET 5298 DAVIS 8052 WEWOKA 9970 STI LWELL 1397 TONKAWA 5347 ST I LLWATER 8138 GUYMON 9976 SAYRE 1763 CARNEGIE 5546 PRYOR CREEK 8140 FREDERICK 9980 HARRAH 1913 IDABEL 5587 ALVA 8203 CHICKASHA 9987 SHATTUCK 2035 MOORE 5811 MANGUM 8294 MAUD 0003 BRAMAN 2078 WELLSTON 5955 CHELESEA 8313 PAWHUSKA 0005 POND CREEK 2104 DEPEW 5958 MARIETTA 8472 OKLA. CITY 0020 GEARY 2117 PRYOR CREEK 5961 PAWHUSKA 8824 STRATFORD 0051 CHECOTAH 2130 BLAIR 6113 ALTUSS 8563 LUTHER 0075 KAW CITY 2148 COYLE 6232 RALSTON 8616 DUNCAN 0117 CLAREMORE 2157 NORMAN 6241 OKMULGEE 8644 MINCO 0151 EDMOND 2472 ARDMORE 6299 6517 6641 6660 6868 6879 6980 7115 7209 COMANCHE QUINTON WANETTE MCLOUD BEGGS COWETA CALVIN BROKEN ARROW BERWYN 8744 8852 8859 9046 9709 9881 9888 9942 9946 WAURIKA TEXHOMA VERDEN SULPHUR WAYNOKA KINHSTON HEAVENER TULSA MARLOW 0205 0239 0240 0286 0304 0380 0381 0402 0548 MARLOW HEAVENER HOLLIS MADILL TECUMSEH ACHILLE COLBERT KAW CITY RINGLING 2801 3021 3751 3760 3891 4005 4108 4305 HUGO MADILL OKMULGEE FREDRICK PONCA CITY DURANT WALTERS PAWHUSKA 7278 7724 THOMAS WETUMKA 9949 9963 NOWATO ELDORADO 0573 0689 VIAN COMMERCE Will pay for VG to VF $75.00 VF to UNC $125.00 for above notes On above notes ship don't write. Will buy most all large notes on the State of Okla. Write. I am interested in many other states, Kan., West Texas, Ark., Ariz., New Mexico, Utah, Colo., Calif., Mont., Nevada and many more. Will buy complete collections, just write. Also wanted .series 1929 FEDERAL RESERVE BANK NOTE brown seal $5.00 San Francisco. Write state condition and price. SPMC 994 HARRY SCHULTZ ANA 38362 BOX 66, KREMLIN, OKLAHOMA 73753 AC 405-635-2377 NUMISMATIC AND ANTIQUARIAN SERVICE CORPORATION OF AMERICA 265 Sunrise Highway, County Federal Bldg., Suite 53 Rockville Centre, L.I., New York 11570 516/764-6677-78 George W. Ball, Chairman of the Board Whole No. 67 Page 95 Attention Obsolete, Western & Confederate Collectors WHY PAY MORE ! Nevada Manhattan Silver Mining Co. "PAYABLE IN SILVER" $1.00 Black Gem Crisp Unc. $10.00 each $5.00 Green Gem Crisp Unc. $10.00 each $10.00 Blue Gem Crisp Unc. $10.00 each $20.00 Sepia Gem Crisp Unc. $10.00 each SPECIAL COMPLETE SET $30.00 Ppd. Confederate Notes (listed by Criswell # ). All notes VF/XF unless otherwise listed. T-16 $50 VF C.O.C. 1-18 $20 VF T-36 $5 T-40 $100 T-41 $100 T-42 $2 Unc. T-52 $10 T-55 $1 Unc. 1-59 $10 T-60 $50 XF $17.99 T-63 54 $17.99 T-64 $500 4.99 1-65 $100 4.99 T-66 $50 4.99 T-67 $20 19.99 T-68 $10 4.99 T-69 $5 19.99 T-70 $2 4.99 T-71 $1 4.99 T-72 54 VG 2.50 24.99 4.99 Unc. 4.99 XF 2.99 XF 1.99 2.99 F/VF 4.99 5.99 VF 2.99 TOTAL $152.31 SPECIAL -1 Each of the Above $149.95 Ppd. VARIETY COLLECTORS - Please send in your specific wants. BOND COLLECTORS - Please write for our current price list. SEND S. A. S. E. Page 96 The paper money issued by North Carolina and the other colonies in the 17th and 18th Centuries was unique in that it was the first time that a nonmetallic money was issued as a legal tender by a western government. The colonists did not look on the emission of paper money as a fiscal experiment, but rather saw it as a solution to the problems of the moment. Always with the solutions came successively more complex problems which were dealt with using the same pragmatic approach. Through the process of trial and error the colonists tried to make each new solution fit each new problem. The paper money emissions of North Carolina were a result of this practical approach to problems. It is necessary to examine the conditions in North Carolina prior to 1712 that set the stage for the first emissions of paper money. In 1709 Rev. William Gordon wrote of North Carolina, "In this as in all other parts of the province, there is no money; every one buys and pays with their comodities, of which corn, pork, pitch, and tar are the chief." This trade in commodities or "country pay" was used in North Carolina because the mercantilist policies of Great Britain had drained all metallic specie from the colony with an unfavorable balance of trade that had to be made good with hard currency. Any metallic currency that came into the colony from other overseas trading was hoarded by merchants to use in their foreign transactions. Paper Money Since "country pay" was the medium of exchange used most in the colony, the legislature made it legal. It periodically issued lists of legal tender commodities and their official trading values. These rated commodities failed to act as a satisfactory medium of exchange for several reasons. The most important reason for the failure was that the value of the commodities fluctuated greatly with the quality of the commodity and the constantly changing market prices. Also large transactions were almost impossible due to the sheer bulk of most barter money, the commodities depreciated rapidly in relation to sterling, and they were subject to damage and deterioration. Despite these Above: 20 shilling note issued under act of October 19, 1722. Right: 10 issue of the March 1, 1734(5) act. Carolina Colony's by Charles E. Kirtley Whole No. 68 deficiencies, commodities continued to be used for lack of a better medium. A second condition in North Carolina that led to emission of paper currency was the precarious state of its budget. Each year the total collections made in the colony would barely cover the expenses. As a result there was no money left over for public works or emergencies if they arose. Such an emergency came about in 1711 when the Tuscarora Indians launched their war to drive the white men from their lands. In order to meet the expenses of the Tuscarora War the colonial assembly voted to issue £4000 of paper currency to finance the war. The notes bore interest, although how much is not known, and they were to be redeemed at stated times out of taxes collected specifically for that purpose. The notes were made legal tender "for all payments". The Lords Proprietors, because of this clause, had to take the bills of credit in payment for quitrents and fees. They complained that they suffered financial inconvenience by taking the notes, but "it was answered that they were to defray the Expense of the War to save their Lordships Country from a great danger, and which they had nothing contributed to defend". The assembly promised to redeem all of these bills by a sinking fund which would call them all in and put an end to paper money in North Carolina. To this end the "Publick Faith was pawn'd". However, it was soon apparent how much the legislature valued its promise. The taxes to sink the bills were lessened and new issues were voted. The pledge of public faith was broken in 1713 when a new emission of £ 8000 was issued to meet the continuing expenses arising from the Tuscarora War. Thus the issue of 1712 was not redeemed as promised, and the debt Paper roblems Page 97 represented by the bills was tripled in size. This breach of promise by the assembly caused the people to distrust paper money so that the issues of 1712 and 1713 quickly depreciated about forty percent. The emission of 1713 was made along the same terms as the one before except that the bills were made legal tender only for those things for which commodities were receivable. This provision was probably made so the Lords Proprietors would not have to accept them in payment. The bills bore interest and were to be redeemed by a tax for that purpose. In 1715 a third issue of 24,000 was ordered. Of this amount £ 12,000 was to be used to retire the issues of 1712 and 1713, the rest was to be applied to the public debt. The holders of the old notes had until March 25, 1716, to exchange their bills for the new issue because after that date the old notes would "be of no value". Two years' interest was paid on the old notes at the time of their exchange. The interest was, of course, paid in the new paper. The Currency Act of 1715 made this emission legal tender "for any of the rated Commodities of the Country or other Money allowing fifty percent between the same and sterling". This clause made the paper money equal in value to the barter currency of the colony. This depreciated value was about what the 1712 and 1713 issues were passing for. Since the bills had their value by grace of a legislative proclamation, it came to be called Proclamation Money. The act went on to make it a crime to refuse to accept the paper in payment, and the legislators were forbidden to speak publicly against the bills. Finally, it was made a crime to counterfeit the bills with a conviction punishable by death. No time was set for the redemption of this issue, and it bore no interest. Later that year the assembly passed an act that pledged to issue no more bills of credit and to levy a tax of £2000 per year until the new issue was retired. This second pledge of public faith was not well taken, and so the issue depreciated rapidly. In 1717 it was reported to be circulating at "a vast discount". The tax provided to retire the emission of 1715 was collected for a few years, and many bills were redeemed. Then in 1722, "the Faith was afterwards broke in upon," and the poll tax to sink the bills was reduced from 15 shillings to 5 shillings. At that time there were still £ 12,000 outstanding. The same year the assembly voted to issue £12,000 in new bills to exchange for the outstanding notes which were said to be torn and defaced. These bills had their values proclaimed to be legal tender at fifty percent advance on sterling in all transactions in which specie was not required. The bills were to be redeemed by a poll tax, but the legislature "usually ordered them to be pay'd-out again". It seems to have been the intention of the assembly not to cancel any of the notes. The last issue of paper currency in North Carolina under the Lords Proprietors came in 1729. It has been said that this emission was brought about by the inflationists in the assembly who, realizing that the government was about to change, used the opportunity to issue a large amount of bills of credit. j/7: Tro e MATZ . rt.. aatc-kna ercecrte?tn,q) itiLf,C) ° th 0—c i/ ' (2- /71;ett';: All the photographs in this article were taken from Eric P. Newman's book, The Early Paper Money of America. Left: Indented handwritten Bill of Credit for the value of Three Pounds, issued under the November 27, 1729 ACT. Below: Twenty Shilling Lawful Money Bill, without legal tender status, authorized on March 1, 1735. -■ izet -0 ands Li: re ti.4 / -17 /7 trtaittit11, e /7 •fe.'c'712 • Page 98 The act passed on November 27, 1729, called for the emission of the sum of £40,000 paper bills of credit. The sum of £ 10,000 was appropriated to exchange as much of the old currency as possible ( £ 2000 of which being then supposed to be lost) and the other £30,000 was let out on land security for 15 years at the rate of 6s 4d percent interest; with one-fifteenth part of the principal to be sunk as the payments were made so the whole would be sunk in 15 years. The money was to be divided among the counties in proportion to the population and loaned out to the residents who offered their land as security. The land had to be worth twice as much as the amount borrowed. Thus was established a land backed currency. This system had been tried previously in several other colonies with some success, However in North Carolina the issue quickly depreciated so that by 1731, the rate of exchange was seven or eight for one sterling. The reason for this depreciation was that shortly after the royal governor arrived he let it be known that the issue was illegal since the act was passed after the colony came under royal rule. The assembly argued that "the Laws made in 1729 are not Void or at least ought to remain in force till his Majesty's Pleasure be known thereon". As a result of their legal status being uncertain, the value of the bills quickly depreciated. The legislature's argument was backed up by the fact that the bills were already in circulation. Since there was no practical way to call them in, they were allowed to remain in use. Another reason for the rapid depreciation was that frauds were committed in assigning values to the lands mortgaged. Many times lands were mortgaged that were worth less than the loan. The knowledge of this fraud, which left the currency with less backing than it should have had, caused further lack of confidence in the bills. At the 1734 session of the assembly, Governor Johnston called attention to the large amount of counterfeit bills in circulation. Although Johnston's instructions forbade him to approve new issues of paper, he allowed an act to Paper Money exchange the old bills for new. To rid the colony of counterfeits was the outward reason for a new emission, but in truth there were other more important reasons. First, there was no other way to pay the quitrents and fees due the Crown, and second, the colony had fallen behind in redeeming the 1729 issue. The payments due under the law of 1729, could be postponed by changing the law. To remedy these problems the Act of April 30, 1734, called for "All money then due by virtue of the Act in 1729 as well as what should become annually so should be let out at Interest of 6 percent [per] annu: (the Principal to be kept entire) for the space of Ten years at which time the £ 40,000 Act Expired". A subsequent act called for an additional £ 2500 to defray the costs of printing. This act, which was passed in 1735, was the first time a printing fee had been needed as before this issue all bills had been hand written by persons employed by the colony. The 1735 act went on to call for £ 10,000 of bills of credit to pay "the Debts of the Province". These bills of credit were to be sunk by a poll tax of 5s and a duty on imported liquor. Thus the laws of 1734 and 1735 provided North Carolina with a debt of £ 52,500. Except for the £ 10,000 in bills of credit, the acts made no provision for the bills to pass as legal tender, thus skirting the King's instructions. Also the bills had no fixed values. The assembly was to set the official values yearly in accordance with their depreciation. And, since the bills were to be re-issued as they were redeemed, the entire emission would come due at once. It was hardly likely that the legislature would be able to redeem such a large amount of bills at one time, so the acts of 1734 and 1735 made new issues almost certain. These issues, like the ones before, depreciated greatly. In 1739 the legislature set "The Exchange at a 1000 per ct." That is to say that the new issue had depreciated to one-tenth of its face value. In 1744, one year before the 1735 issue came due, the 0-(CCOrb i 119 fo',,.'i.c.tolg.(14m6r ifie of a Lir 1748 /Ail /74,A.7/ --/g7 Whole No. 68 Page 99 Right: This new Three Pounds Bill of Credit, issued under the April 4, 1748 Act. Old bills could be redeemed for new at the rate of 71/2 to 1. governor called on the legislature to provide for the public debt. The assembly drafted a bill to emit a new issue of paper, but this bill was vetoed by the council largely because a clause in the act called for their salaries to be paid in the new paper. Later the same year a similar bill was rejected for similar reasons. Finally, in 1745, a bill was passed levying a tax to sink the bills, but this tax did not accomplish its purpose due to corrupt and inefficient administration. By 1747 nothing had been done about the debt. The public was ready for a new emission of paper money because the old was so depreciated that it was almost worthless. Also the Spanish had sent out expeditions from St. Augustine which had plundered along the coast. Paper money was seen as a way to finance forts for protection against the Spanish. The Act of April 4, 1748, which the governor approved despite his instructions, provided for all current bills to be redeemed at a rate of 7 1/2 old currency for 1 new. The act also set £ 6000 aside for construction of four forts. The rest of the £ 21,350 issue was to go for paying the public debts. The new issue was made legal tender at new proclamation rates of three-fourths the value of sterling. The tax law of 1745 was repealed, and a new law, which outlawed payments in commodities, was passed. Thus the law of 1748 left the public debt unpaid, but it had been greatly reduced by devaluation. North Carolina had not redeemed any of the notes issued between 1712 and 1748 with the exception of a few cancelled between 1715 and 1722. The debt that the notes represented had been cut by 86 percent of its original value by inflation and devaluation. The early paper money experiment in North Carolina had not provided a stable means of exchange, and thus it failed. There are many reasons for the failure, all of which are at least partially responsible. Some of the reasons that the bills depreciated are that the taxes to redeem them were too far in the future, interest was sometimes not provided to the holders, and the sums issued exceeded the sums paid in to the colony each year in taxes. Other reasons are that the currency was not regulated according to the value of the metal which was declared to be standard, in some cases the issuing authority was not clear, and there was no plan for converting the bills to a standard metal. Finally, the colony made no efforts to gain the public's confidence in its paper money. For these reasons the bills were subject to the instability which made them unsuitable for commerce. The results of the early currency experiment in North Carolina showed that restraint and sound governmental policies were necessary in order to obtain a stable medium of exchange. BIBLIOGRAPHY Bullock, Charles J. The Monetary History of the United States. New York: Greenwood Press, 1969. Clark, Walter., ed. The State Records of North Carolina. Winston: M.I.&J.C. Stewart, Printers to the State, 1895. Davis, Andrew McFarland., ed. Colonial Currency Reprints, 1682-1 751. New York: Reprints of Economic Classics, 1964. Del Mar, Alexander. The History of Money in America. New York: Burt Franklin, 1968. Hepburn, A. Barton. A History of Currency in the United States. New York: Augustus M. Kelley, Publishers, 1967. Kagin, Donald. "The First Attempts at Fiscal Stability in the Massachusetts Bay Colony." The Numismatist, 85 (1972), 691-702. Nettels, Curtis P. The Money Supply of the American Colonies before 1 720. New York: Augustus M. Kelley, Bookseller, 1964. Newman, Eric P. The Early Paper Money of America. Racine, Wisconsin: Whitman Publishing Company, 1967. Nussbaum, Arthur. A History of the Dollar. New York: Columbia University Press, 1957. Parker, Mattie Erma. Money Problems of Early Tar Heels. Raleigh: State Dept. of Archives and History, 1960. Prather, Charles L. Money and Banking. Homewood, Ill.: Richard D. Irwin, Inc., 1964. Saunders, William L., ed. The Colonial Records of North Carolina. Raleigh: P.M. Hale, Printer to the State, 1886. Schultz, William J., Carne, M.R. Financial Development of the United States. New York: Burt Franklin, 1968 Page 100 Paper Money Interest Bearing Notes VEBDEI Dear Member: Elsewhere in this issue you will find a call for nominations for your Board of Governors. If you know of any member who has contributed to the Society in works, articles or services who you think would be an asset to your Board, contact Roy Pennell. We want men and women with new, fresh ideas and energy. We are not interested in loud voices with no past track record of contributions. In other words we need workers who will unselfishly support the Society and promote the collecting of paper money. If each member would sign up just ONE collecting friend to a membership in SPMC, our growth would be phenomenal! We have the organization; and a publication full of pertinent information, topical interest, and the desire for growth. Each week I receive numerous letters from people requesting information about our organization and how to go about joining it. It seems to me when people have to continually write us, individual members are not putting the necessary effort into getting an application into their hands. So do a friend, and the society, a favor—invite them to join SPMC. They will be glad you did. As many of you know, I started the new year off with a minor heart-attack which has derailed me for the past couple of months. I would like to thank those of you who were thoughtful in sending me cards and letters. They were appreciated. But, enough said about past events. I just wanted to let you know why I've been so remiss on a few of my functions lately. By the time you read this I should be back on schedule, even though on a limited basis. Best regards, Bob. MISPRINTS Issue 64/65, Page 220: * and # should be deleted as these footnote references have nothing do with $50 notes and belong at the foot of $20 Types p. 80, Whole Number 62. Issue 66, Page 260. Footnote sources in reference to the Argentine 50 centavo note of 1875 should be credited to 1 A. Barton Hepburn and 2 Walter Breen. REVISION PLANNED A complete revision of the Wismer listing for obsolete currency of Oklahoma and Indian Territory, which appeared in Volume 6 Number of PAPER MONEY, is currently being prepared. This revision includes a number of new varieties, and the numbering system has been changed completely. In order to make this new work as complete as possible, having knowledge of any recently discovered items from this area, which may be unknown to the author should contact: Maurice M. Burgett, 8 North Oak St., Belleville, IL 62221. Phone 618 234-9530 NOTICE TO ALL MEMBERS President Medlar has appointed Michael Crabb, Jr., Charles O'Donnell, and J. Roy Pennell to be the 1977 nominating committee. The following Board Members terms expire in August. David A. Hakes Charles O'Donnell Glenn B. Smedley Harry G. Wigington (Secretary) Wendell Wolka (Librarian) The nominations committee would like for the membership to submit the names of members they think would make good Board Members. Please include the qualifications, and any remarks you want to make, of your suggestions. All of the present members are eligible for re-election. Comments on the present members will also be welcome. We will need to receive your letters prior to May 1st., so please write as soon as possible. Please send your letters to: J. Roy Pennell, Jr., P. 0. Box 858, Anderson, S. C. 29622. J. Roy Pennell, Jr., Chm. SPMC 1977 REGIONAL MEETINGS MARCH 26, Metro, N.Y.C., Barbizon Plaza, James A. Conlon. APRIL 23, TNA, Ft. Worth, Quality Inn, John Morris. MAY 14, CSNA, Milwaukee, Red Carpet Inn, TBA. JUNE 4, Paper Money Convention, Memphis, Holiday Inn, Rivermont, TBA. JULY (?), Metro, Wash., Lanham, Md., Sheraton, TBA. AUGUST 27, ANA, Atlanta, Marriott, TBA. Members are urged to mark their calendars and to attend these meetings if possible. They promise to be rewarding experiences. NOTICE There will be a temporary delay in the mailing of the 1977 membership cards to the members who have paid their dues. This is a result in the delay in shipment of the cards from the American Bank Note Co. Your patience is appreciated. Harry Wigington, Secretary. - =MI MINN - I am interested in Coins/Banknotes (delete not applicable). I am especially interested in Name City (BLOCK LETTERS PLEASE) Street PMState Zip Claudius & Agrippina. AR Cistophorus of Ephesus. Busts of Claudius and Agrippina legate left Rev. DIANA EPHESIA. Cultus figure of Diana facing. Hands resting on ornamental stavesoRlC. 54 C 1. VF. 10 kroner of Norway. The famous "Krigsseddel" (war-banknote) printed in London for Allied forces liberating Norway in World War II Stanley Gibbons have something to tempt the most discerning collector. Stanley Gibbons Currency are the world's leading specialists in paper money and experts on coins of all periods. Call in at our showrooms and view at your leisure our large stocks which include banknotes from almost every country of the world together with some of the most ancient and beautiful coins ever produced. Our staff are always available to offer expert advice if required. Alternatively write for literature and latest price lists. STANLEY GIBBONS CURRENCY LIMITED 395 STRAND, LONDON, WC2R OLX. Page 102 Paper Money SECRETARY'S Erowr HARRY G. WIGINGTON, Secretary P.O. Box 4082 Harrisburg, PA 17111 MEMBERSHIP LIST No. New Members Dealer or Collector Specialty 4872 Charles 0. Sullivan, 11 Mizzentop Lane, Centerville, Ma. 02632 C U.S.. Obsolete paper money & scrip 4873 James S. Tulenko, 3421 Ivy Link Place, Lynchburg, Va. 24503 C Fractional Currency 4874 Zvi H. Siew, P.O. Box 541, Tel-Aviv, Israel 4875 F.J. Vollmer, 3 Towonda Rd., Bloomington, Il 61701 D 4877 Cdr. Fred R. Thomson USN (Ret.), 4838 Drummond C Silver Ceritificates & Federal Reserves Notes Ave., Chevy Chase, Md. 20015 4878 Jerry W. Lewicki, 48 Mt. Marcy Dr., Rochester, N.Y. D U.S. Currency 14622 4879 Charles W. Bryant, Rt. #1, Box 32A, Royston, Ga. C Georgia notes—large & small 30662 4880 Kqlbmand John Jacobsen, Kongelundsvej 479-483, 2770 Kastrup, Denmark 4881 Gregory R. Rowe, 7150 Morningside Dr., Loomis, Ca. C Fractional & large-paper currency in general 95659 4882 Joseph J. Schneider, 46 Clinton St., Sea Cliff, N.Y. C U.S. Fractional Currency & Encased postage 11579 4883 Ray E. Lee, Sr., P.O. Box 2667, Universal City, Tx. C/D U.S. Foreign Paper Money 78148 4884 Ernest E. Keusch, 135 Woodland Rd., Madison, N.J. C Sutler scrip 07940 4885 Alfred E. Rosinski, P.O. Box 17, Bedford, Ma. 01730 C Foreign & U.S. Currency 4886 Guy G. Van Keer, Avenue de l'Optimisme 21, B-1140 C Paper money of the World Bruxelles, Belgium 4887 Phillip R. Pearson, 11937 Darlington Ave., Los C Angeles, Ca. 90049 4888 Robert R. Goller, 257 River Drive, Elmwood Park, N.J. 07407 C Morris Canal & Banking Co. notes 4889 Ralph Austin, South China, Maine 04358 C/D Maine Bank Notes 4890 T.G. Webb, 522 Loomis Circle, Colorado Springs, Co. C Large size U.S. Currency & Obsolete 80906 4891 Claude C. Held, II, 117 Hospital Drive #3, Watertown, Wisc. 53094 C REINSTATED MEMBERS 4308 John Shannon, 26 Harmon Dr., Lebanon, Il. 62254 SPECIALTY CHANGE 4826 Fred Zinkann, 82 E. Circle Dr., Aurora, IL 60538. "Illinois & other material" DECEASED 2118 Arthur R. Hanna 518 C. Lamar McDonald 777 T. Jackson Lowe RESIGNATIONS 2980 Claude M. Monteiro 3451 Jack I). Juech 4692 Donald Avery Howe 4745 John C. Tippett 2868 Arthur H. Van Voris 2498 M.D. Roth, Jr. 738 Benjamin J. Reynolds 1177 Warren Delaney 3223 Rev. Robert J. Carroll 2341 Arthur G. Reeves 1568 Valentine Pasvolsky 1039 Michael Justinger 3476 La Verne D. Millard 2179 Jack Friedberg 3153 Mrs. Nona G. Moore 1299 J. Thomas Welch 71 John P. Skribiski 2664 G.D. McIntosh HICKMAN • OAKES 2nd SEALED MAIL BID AUCTION 177 LOTS OF NATIONAL BANKNOTES and RELATED MATERIAL ON .1 IL Whole No, 68 Page 103 YOUR COLLECTING INTERESTS ARE ALWAYS IN MIND WITH US AND TO PROVE IT, WE ARE BRINGING YOU, THE NATIONAL BANK NOTE COLLECTOR, ANOTHER MAIL AUCTION OF TOP RARITY AND QUALITY NOTES FROM ALL CHARTER PERIODS AND STATES. FOR THE TYPE COLLECTOR THERE ARE SEVERAL UNCIRCULATED NOTES, FROM 1929 ty2 notes, '02's 1882 brown backs and a 1882 $10 Value back. In red seal notes alone there are OVER 30 DIFFERENT NOTES IN $5., $10., $20., $50., and $100. (Thats a lot of Red Seals!). IN FIRST CHARTER NOTES THERE ARE $1. to $50., and $100.„ (THATS 1st CHARTER $50 AND $100.!) THE SALE INCLUDES SIX TERRITORIAL NOTES, TWO JUNEAU, ALASKA NOTES AND NOTES FROM ALL 48 OF THE CONTINENTAL UNITED STATES. In order not to miss this important paper money sale of National Bank Notes, send $1.00 for first class postage and handling of the catalog. If you do it now prices realized of the sale will be sent FREE. You do need to keep informed on the current prices of nationals so atter April 11, send $2.00 for the catalog with the prices realized included or if you have a catalog and did not send $1.00 for the prices realized, do so now ... Also available is last years great catalog and prices realized of the State seal and State Capital collections. This catalog is an easy reference and still at only $2.50 or a bound copy $7.50 postpaid. HICKMAN a OAKES AMERICA'S LEADING DEALERS AND RESEARCHERS OF NATIONAL BANK NOTES P. 0. Drawer 1456 Iowa City, Iowa 52240 DEAN OAKES CURRENCY CATALOG FOR 1977 Also most of you have received the past few years copies of the DEAN OAKES CURRENCY CATALOG and by now hopefully you will be looking forward to receiving this catalog of U.S. Currency types. To all of you that wish to receive the list by 1st class mail and thereby get a jump on the selection a week or two before many of the catalogs get out we are asking for 504 for postage only. If you are not red hot on the idea just send us your name and we will see that you do get the catalog completely at our expense but by bulk mailing. We are having to limit our general mailing this year as costs mount so we will not be able to just mail to all members of the Society of Paper Money Collectors. If you wish to combine this order with a request for the Mail bid auction catalog you can do so by mailing both to the same address given above. Drawer 1456, Iowa City, la 52240 Page 104 • LIBRARY .rommEna. NOTES WENDELL WOLKA, P.O. Box 366, Hinsdale, IL 60521 I am happy to report that the Library now has available for loan photocopies of almost all of the rare first three volumes of Paper Money. The following issues are now available: 1962 Volume 1, numbers 1, 2, 3, & 4 1963 Volume 2, numbers 1, 2, 3, & 4 1964 Volume 3, number 1, 2, 3 4 REGULAR ADDITIONS: The Numismatist: August, September, October, November, December 1976, January, 1977. The Virginia Numismatist: July 4, 1976 edition, Vol 12, no. 4, no. 6 - 1976. ANA Club Bulletin Vol. XXVI, nos. 4, 5 (August, November 1976) MOEDA Vol. II, no. 10, no. 11/12 (March, June/August 1976). US 60 Griswell, Grover C.---Confederate and Southern C-7 States Currency, 1976 Edition, 294 pp., Illus. Gift of the Author This latest edition of the standard reference for the field of Confederate and Southern States issues upholds the tradition of excellence which collectors have associated with Mr. Criswell's past efforts. Well illustrated and with pricing, this is a must reading requirement for collectors of Confederate material. UA 50 Shafer, Neil—Let's Collect Paper Money!, 1976, S-8 64 pp., Illus. Gift of the Author This is the book everyone should read when they decide to collect paper money. Written in a easy-to-read, engaging manner, the book explores and illustrates various collecting areas which might be of interest to the would-be collector. In addition tips are given as to how to assemble a collection, what the availability and value of various kinds of notes is and so forth. Makes an interesting evening's reading for old and new collectors alike. UJ 60 Banyai, Richard A.—Money and Finance in Mexico B-3 During the Constitutionalist Revolution 1913- 1917 126 pp., Illus. Gift of the Author (1976) As the title indicates, this book provides an in-depth study of the financial aspects of the Mexican Revolution during 1913-1917. Mr. Banyai has done his usual scholarly research and the book provides much material which is invaluable to the collector of Mexican currency of this and other periods. Paper Money Currency Issuing F5P4 Banks and Their Bank Notes 1833-1935. 97 pp., Illus. 1975 Gift of Author This is a superbly done in-depth study of the seven banking institutions of Pensacola, Florida which issued their own currency. Included are one private bank and six National Banks. The book, done in a style similar to M. Owen Warns' Nevada book, is a joy to read. US 25 Check Collectors Round Table, Inc. Security C5 Printers. 38 pp., 1976 Gift of CCRT. This expanded second edition of Security Printers lists approximately 1900 security printers from the late 1700's on. An invaluable tool. VA 70 First National Bank, Bank History, 16 pp., Illus. F8 1975 Gift of Gerald C. Schwartz. This booklet, with many illustrations and a good deal of biographical material, traces the first hundred years of the First National Bank, Bellevue, Ohio. We'd like to have more of these for the library. Do any of our members have any others out there which need a home? The following Auction catalog has been received: Hickman & Oakes National Bank Note Sale of April 10, 1976. Donated by Hickman & Oakes. Sale of State Capitals and State Seal National Bank Notes. With prices realized and illustrations. CHASING RAINBOWS AND OTHER COLORFUL NOTES Ciaitinued from page 80 FIVE THOUSAND DOLLARS. F-188. [4000 printed and issued] As of June 30, 1889, only 7 were outstanding; sometime after that, all seven were turned in. The designs are known only from Amon Carter's specimen note, marked "Specimen Furnished the Chinese Government By the United States Treasury Department." Left, vignette "Madison," engraved by Andrew Sealey. Right, large counter. Large brown seal in center. SNs (represented in this piece by stars) lower left and upper right; would have been in either block A-brace or Z-ornament. Sigs. of Scofield and Gilfillan. Face and back with Bureau engraving and printing credits. See illustration in Friedberg. TEN THOUSAND DOLLARS. F-189. [4000 printed and issued] As of June 30, 1889, only one was outstanding, that one later turned in. Designs known from the Bureau's specimen note pictured in Friedberg. Engraved and printed in the Bureau. The vignette of Jackson is by Andrew Sealey after Thomas Sully. See illustration in Friedberg. It is not known if the Z-doublecross SNs were as on the actual issued notes or if the block in use was A-brace as on lower denominations. If Z-doublecross, this is the earliest use of it; it continued in Series 1880 on other denominations. (To Be Continued) US 80 Pfeiffer, Philip A. Pensacola's Whole No. 68 Page 105 FRACTIONAL CURRENCY FOR SALE NEW LARGER LIST NOW AVAILABLE WANTED Any and all Fractional or related material (books, Spinner items, etc.). Sell to a specialist for the best possible offer. A.N.A. SPMC LEN AND JEAN GLAZER P. 0. BOX 111 FOREST HILLS, NEW YORK 11375 Page 106 Paper Money Ii ',RIVAL OF ENGRAVING & PRINTING COPE PRODUCTION FEDERAL RESERVE NOTES PRINTED DURING DECEMBER 1976 SERIES SERIAL NUMBERS FROM TO ONE DOLLAR QUANTITY SERIES SERIAL NUMBERS FROM TO TWENTY DOLLARS QUANTITY 1974 B 63 360 001 F B 79 360 000 F 16,000,000 1974 A 72960 001 A A 79 360 000 A 6,400,000 1974 C 07 040 001 C C 40 320 000 C 33,280,000 1974 C 09 600 001 B C 12 800 000 B 3,200,000 1974 E 55 680 001 E E 87 680 000 E 32,000,000 1974 E 10 240 001 D E 16 000 000 D 5,760,000 1974 J 20 480 001 B J 37 120 000 B 16,640,000 1974 F 36 480 001 B F 42 880 000 B 6,400,000 1974 L 08 960 001F L 24 320 000 F 15,360,000 1974 G 30 080 001 E G 34 560 000 E 4,480,000 TWO DOLLARS FIFTY DOLLARS 1976 F 53 760 001 A F 60 800 000 A 7,040,000 1974 B 50 560 001 A B 58 880 000 A 8,320,000 1976 G 69 760 001 A G 75 520 000 A 5,760,000 1974 B 01 600 001 * B 01 664 000 * 64,000# 1976 H 21 120 001 A H 26 880 000 A 5,760,000 1974 K 10 240 001 A K 11 520 000 A 1,280,000 1974 K 00 320 001 * K 00 384 000 * 64,000# FIVE DOLLARS 1974 A 58 240 001 B A 62 080 000 B 3,840,000 ONE HUNDRED DOLLARS 1974 H 23 040 001 B H 29 440 000 B 6,400,000 1974 B 69 760 001 A B 77 440 000 A 7,680,000 1974 L 27 520 001 D L 43 520 000 D 16,000,000 1974 B 01 792 001 * B 01 856 000 * 64,000# 1974 K 14 080 001 A K 16 640 000 A 2,560,000 TEN DOLLARS 1974 K 00 384 001 * K 00 512 000 * 128,000# 1974 E 16 000 001 C E 20 480 000 C 4,480,000 1974 G 57 600 001 D G 83 840 000 D 26,240,000 # Indicates Printing Other Than COPE 1974 G 13 440 001 G 14 080 000 640,000# ## Indicates Correction to Previous Report TAKE AN EDUCATION BREAK Enjoy a refreshing noontime break while attending the Central States Numismatic Society 38th Anniversary Convention. You're invited to another of SPMC's regional luncheon meetings and have a good lunch, meet fellow collectors, and hear an interesting program. When? Saturday, May 14th at 12:30 PM. Where? The Carpet Inn, 4747 South Howell, Milwaukee, Wisconsin. What's for Lunch? Turkey and all the trimmings. Price? $5.39 per person (includes tax and gratuity). Since we must guarantee the hotel exactly how many people will be attending the luncheon meeting, it is IMPERATIVE that you send your checks and reservations to the following address so that they arrive no later than May 10, 1977: Wendell Wolka, Box 366, Hinsdale, Illinois 60521. EARLY SHIPS AND SHIPBUILDING ON PAPER MONEY by Dr. John A. Muscalus, 48 pages, illustrated, soft cover. Historical Paper Money Research Institute. $5.50. Illustrated, and listed, in this latest monograph by Muscalus are over a hundred different notes pertaining to the subject of ships. A revision of his 1939 efforts, Muscalus states, "This album of ships on American paper money is the first comprehensive, illustrated treatment on the subject." This book is available from the Institute, Box 187, Bridgeport, PA 19405, at $5.50. NEW YORK BANK OPENERS Relative to an article in the "Banker's Magazine" of 1852; the opening circulation of a number of New York state banks was published. As of May, 1852, when the banks opened, their circulation was reported as follows: Empire City Bank, New York City $93,500; Bank of Genesee, Batavia $10,900; Quassaick Bank, Newburgh $40,000; Salt Springs Bank, Syracuse $80,000; State Bank at Sackett's Harbor $36,000; Bank of the Union, Belfast $50,000 and Williamsburg City Bank $100,000. Whole No. 68 Page 107 •••••■•■•■•••• CONTRIBUTING • • . to the Cause Contributing to Paper Money, the official journal of the Society of Paper Money Collectors, is a privilege—even something of a responsibility—that all members should be sharing. THE SPMC is an organization that numbers in its membership the very best elements of the paper money collecting hobby. We are serious collectors, students, and disseminators of information about all types of paper currency. The principle reason most persons join the Society, and one of the cornerstones upon which the SPMC is built, is learning. Striving to further the knowledge and study of all paper money has drawn us together, and the journal, Paper Money, is the principal means by which what we have learned is shared with the membership, the hobby at large and future generations of collectors. It is the belief of the editor, based on long experience with speciality hobby publications that there is no reader of this magazine that does not have something to contribute: Whether it be a series of articles, a single informative article, short pieces of general interest, personal reflections on paper money collecting, comments or additions or corrections to previously published material, etc. It cannot be emphasized too strongly that prospective contributors should not let what they suppose to be a lack of writing ability deter them from sharing what they have to say. To be sure, many of the contributors to Paper Money are accomplished numismatic authors; but the editor encourages the new writer and the non-writer as well. Every collector has a story to tell: A lengthy treatise on a series of notes never before, or previously inadequately, written about; a newly discovered rarity or variety; a "behind the scenes" look at the circumstances that prompted a note's or series' issue; the human element as it relates to any facet of bank notes or collecting; the story of a favorite vignette—the possibilities are endless. What one collector finds of interest in the field of paper money collecting is usually of interest to hundreds or thousands more. Each member should take the idea that has been in the back of his mind and start now to develop it toward its fruition—appearance in the pages of Paper Money. If you do not feel ready to put your contribution down in the form of a completed article, begin with a query to the editor. A letter telling him what topic or area of interest in which you would like to write will be answered with general ideas and specific recommendations on how to proceed. The editor can assist in obtaining reference books or suggesting sources of reference; he can provide an outline to direct the prospective author in putting his idea into the written word; he can provide all the customary editorial services such as reviewing first drafts of articles and suggesting revisions, etc. and finally, polishing up the final article for publication. Naturally illustrations are an important part of any article in Paper Money, enhancing the readers' understanding and appreciation of the text. The editor always welcomes illustrative material supplied by the author, but stands ready to provide material from SPMC files, or on loan from another member, a dealer, one of the numismatic publishers or from a wide variety of outside sources. If a writer has a piece of currency about which he has written, the editor will arrange to have a photograph made that is suitable for publication. Even if a member feels that he can in no way prepare an article, he may submit his idea to the editor. If you can provide an outline of what you want to say, or even a set of facts, the editor will turn it into a readable article for which you will receive a byline. In short, there is no reason why a member's idea for an article cannot be followed through to publication; and there are rewards for doing so. No, Paper Money does not pay for articles, but there are nevertheless personal satisfactions to be drawn from publication of an article in the SPMC journal. Besides the appearance of your byline, there is the pride of knowing that you are a published numismatic author. You will know that you have made a contribution to the hobby that will endure as long as a copy of Paper Money exists anywhere in the world. You will have the thanks of not only the membership who today read what you have shared, but of unborn paper money specialists who will one day rely on what you have written as a contemporary account of one of the most exciting periods in the history of paper money collecting. Then there are the Society's literary awards presented each year at the annual luncheon held in conjunction with the A.N.A. convention. All articles published in the journal are automatically considered for these awards and there are suitable awards of excellence for the articles chosen by the judges as the best of the year. Paper Money must have a continual influx of articles and articles-in-preparation if publication is to continue on a bi-monthly basis. Each member is encouraged to begin work on an article today, to insure the health and growth of the finest publication in the field of paper money. 41....-.01111Or 2 Cc nNo. The Bear Salisbury, n. 2, 1816. TWO rnU(led to Office, CENTS. Page 108 NASCA, The Numismatic and Antiquarian Service Corporation of America, held a successful sale at the Biltmore Hotel in New York on January 21 and 22, together with a mail bid only sale that closed on January 24th. The public sale was highlighted by the Jack Guevrekian collection of New York obsolete currency together with the Robert Payne, William Pullen and Brent Werner collections of obsolete and Confederate material, and a powerful selection of Colonial and Continental notes from the Bristol Historical Society and other consignors. The Mail Bid sale provided further selections of obsolete notes, as well as printer's proofs, clearing house certificates and Fractional and Federal Currency. The public portion of the sale which ran for 4 sessions on January 21st to 22nd drew many of the most distinguished names in obsolete and Colonial currency to New York. For that reason, despite the strong book, over 1,800 out of 2,122 lots (87%) went on the floor. Among the more interesting trends in the obsolete area was the acute popularity of scrip, even exceeding that of NASCA AUCTION SETS BENCHMARK the bank notes, taken as a group. A notable example of this could be found in lot 10, consisting of 5 notes, 3¢, 5¢, 100, 25¢ and 50¢ numbered 1-5, respectively from Groton, Connecticut. This realized $175 vis-a-vis a $125 estimate. Odd denominations did well. A $4 Norwich, Connecticut note lot 14 (one of four of that denomination issued in the Nutmeg State) went to $130 against a $40 estimate. This trend was confirmed in N. J. where lot 204, a $7 note went to $130 on an estimate of $75. Likewise, the $6, $7 and $8 notes of the Monticello Bank (lots 1344-6) netted bids of $240-260 on estimates of $65-75. Southern state notes as a general rule drew strong floor bids, while items unlisted in any of the SPMC books, which were presumed to be rare, did quite well. A Union Bank of Florida $50 note (lot 49) went to $230 over a $100 estimate. In the choice offering of early American scrip in Salisbury, Maryland (lots 150-53), the 2¢ note with 3 Wasps went for $140 versus a $125 estimate; whereas the companion 3¢, 61/4¢ and 12 1/2¢ notes did not do as well. The reason for this was that a collector who buys nothing but notes which has insects on them fancied the former, but had no interest in any of the latter. Other speciality interests, such as locomotive notes or those with coins on them commanded strong interest and good prices. Likewise, regional loyalties and interest in particular states drove the prices of Iowa material (lots 104-108) to $705 versus the modest $175 total in estimates, while Long Island material from Brooklyn, (lots 698-720), for example, Paper Money realized $1,950 on a $1,525 series of estimates. Certainly among the items of highest interest to the obsolete paper money fraternity were the proofs. In pricing proofs, NASCA operated on the basis that any tricolor proof on original card was worth approximately $175; and that any bi-color proof in the same condition was worth at least $125. Approximately $25 was added for items unlisted in Wismer and a similar amount was deducted for notes not on original card. What transpired was very obviously different from what had been anticipated; but certainly it was not in keeping with the pronouncements of some cynical dealers who declared that the estimates were excessive and that few if any of the notes would draw more than $60 apiece. What in fact happened was that a highly discriminating group of purchasers based its bids on rarity, number of colors employed and the kind and variety of vignettes used. For instance, the older proofs, particularly those by Peter Maverick, Leney & Rollinson etc., though probably as scarce as or scarcer than some of the later proofs offered, produced bids in the range of $60 to $90 apiece, even though in some cases they were unlisted in Wismer. Good examples of this were lots 762 and 763 which went for $60 4.1(4 'tS>reent qt±ountR2'.'llat;11.) •s„511rZY:3 NEwvoita Whole No. 68 and $70 respectively. On the other hand, scarcely a handful of lots later, a $10 green over black proof by the National Banknote Company, though estimated at $150 went for $350 in spirited bidding. To some degree that result was a product of a strong interest in any bank bearing the title of "National". Similar interest extended to any note bearing a vignette that appeared on United States notes, such as lot 778, a $20 proof of the Bank of Cohoes, printed by the American Banknote Co., in October 1, 1860, green over black, with a left vignette similar to the central vignette of the $20 demand notes of 1861. That item drew a $220 bid versus a $140 estimate. There were other trends apparent as well. For a variety of reasons, the New York country banks, taken as a group, commanded higher prices than New York City notes, which did well on their own account. Here, local loyalties and collecting interests undoubtedly played a part, particularly as several of the New York banks exist today either under their original names or in the form of successor corporations. The honor of being the highest priced item in the New York series, as anticipated, went to the $25 Chemical Bank note (lot 403), which went for $360 closely followed by a $1 American Bank Note proof on the same institution, which realized $330. Old and historically famous banks seem to have done better than expected in other portions of this sale. A suspected counterfeit, a $20 note of the Bank of North America (lot 1241) brought $425. Likewise, the Bank of the United States issues, all from the Second Bank, did quite well. A $5, note on the Portland branch, lot 142, realized $260 on an $150 estimate. The Pennsylvania notes of the Bank of the United States (lots 1260 through 1274) produced spirited bidding; indeed the highest price realized for an obsolete note, $550, was paid for the $3,000 note, (lot 1266), which was the note pictured on the catalogue cover. The $20,000 post note, lot 1268, realized a new high of $350, versus $250 in a previous offering. Page 109 Sheets, as a group, provided very mixed prices even if the overall result exceeded the estimates. The State of Mississippi $2 and $3 note sheet, (lot 1367) went to the floor at $140 over a $100 estimate. The highest priced sheet was the interesting double sheet of Passumpsic Turnpike Corporation notes in Barnet, Vermont, which went to the book for $300 on an estimate of $125, with a higher book bid authorized. The Confederate offering, which lacked any of the key type notes, but had some of the better secondary ones, showed that the Confederate market remains strong. The $100 and $50 so-called "First Richmond" bills in Extra Fine and AU condition went for $105 and $115 respectively, slightly over estimate. Likewise, the $100 note dated July 25, 1861, in Very Fine to Extra Fine condition realized $90, well above previous public auction results. The highest priced Confederate note, a $5 Manouvrier in Very Fine condition with four punch holes, neatly restored, netted $280 on an estimate of $175, showing that quality condition notes of that emission are in great demand. The highlight of the Confederate series, however, was the sale of the $5 Chemicograph plate which brought $1,000 on the floor on an $800 opening bid. The results of the 700 odd lot offering of Continental and Colonial currency provided further evidence, were any needed, that the price adjustment trend in this interesting area has continued following the late 1975 highs. What apparently is going on is that choice condition notes, whether common or not, and exceptional rarities, even when in poor condition, are continuing to command high prices, while discriminating collectors are shying away from low grade, common items. For instance, the excessively rare July 12, 1709, 20 Shilling note of Connecticut (lot 1535) with the lower left quadrant missing realized its $300 estimate, while a Delaware 20 Shilling note of March 1, 1734, went to $260. Similarly the early Maryland notes, (lots 1615-17), thougl - estimated at $450, drew bids totalling $580. Likewise the John Law note from Louisiana drew a winning bid for $340 on a $300 estimate. A New Hampshire, April 3, 1742, redated Feb. 1744 6 Pence note realized $350 on a $200 estimate. The strongest of these earliest rarities was the New Jersey 6 Shilling bill of March 5, 1724, which went to $1,450 on a $1,000 estimate. Its companion, the last Franklin N. J. note, (lot 708), fetched $140 on a $40 prediction. Newman plate notes, always popular, proved their strength in New York, (lot 1797) with the altered 6 Pound Vree Penes. THIS BILL Mall paircurrent for Tbree-Feere, within the Province of 41 according to an Aa o Affentbiy,_made in the 4th Ye at' it of thektign of King Gait . Dated th th Day o jae#, 1764. Threepenc "rie-1 Three Pence. IS RILL (hall pate current for Three-peace, ithie the Province of Pee fit- eeia, according to an Aft o Affernbly, made lathe 4th Year of the Reign of King G a o. III. Dated the itch Day of t, 1764. C t . )>M1r4,149,2 Page 110 note, that opened at $200 and went to $750 on a $500 estimate. From a percentage viewpoint, the Rhode Island 40 Shilling note of 1715, redated 1721, did best going for $700 to the book after floor competition, a record gain over the $100 estimate. Strength was also noticable in some states like Maryland and North Carolina, the very rare "red money" bills of May 1781 in the former state, (lots 1636-38), being particularly strong. For instance, a census condition 7 Shilling 6 Pence bill was bid up to $725 on a $400 estimate. Likewise, the Massachusetts Sword in Hand notes held up well as did such popular but available favorites as the New Jersey 6 Pount of March 25, 1776, in choice Uncirculated condition (lot 1778) which went to $220. Another available but popular favorite, the crisp, Uncirculated fractional bills of June 18, 1764, of Pennsylvania (the last issue printed by Ben Franklin) did well with a $700 winning bid on a $600 estimate, for an uncut pair, (lot 1904). STUNNING RESULTS OF THE MAIL BID SALE The results of the obsolete portion of the mail bid sale were similar to the public offering. While some individual notes did very well indeed, others proved to be in normal demand, particularly as the mail bid portion of the auction contained what was evidently the lower priced material. The collectors of die proofs should be pleased to hear that this interesting branch of numismatics appears to be in the ascent. Whereas, in the May 1976 John Carter Brown sale such items averaged between $5 and $10 apiece, the NASCA sale seems to have produced prices realized ranging from $10 in one case up to $40 with the average around $25 or so, which was the top estimate given for all of lots 3164 through 3205. Moreover, the Clearing House Certificates, another very recondite collecting area, apparently attracted a considerable amount of attention. The pictured Alaska Fairbanks $1 note of 1907 (lot 3209) created great interest and a substantial response in the terms of bids; of the 25 bids received 5 were over $100 and 3 were over $200, the winning bid being $245. Moreover, the five Florida certificates (lots 3216 through 3221) were bid in at rates ranging from $80 all the way up to $115, there being numerous bids on each lot. While a few of these Paper Money items produced bids as low as $5 or even less, particularly the 1932-33 certificates, it is evident that the 1907 items, barring special geographical interests, now run at approximately $15 to $25 apiece, which is a good deal more than many potential bidders thought possible. Confederate bonds did as anticipated. The scarce May 16, 1861, $1,000 Criswell No. 13 (bond) produced $60 on an estimate of $75; and the rare Erlanger bonds (lots 3252-54), ran the gambit from $75 up to $125, almost perfectly matching their estimates. Common Confederate bonds ranged between $10 and $15 apiece, which suggests that this area of numismatics is active, at a price. UNITED STATES FRACTIONAL CURRENCY By far the most excitement in the sale was provided by the United States Fractional Currency, which contained several choice rarities including; lot 3277, a 50 Friedberg 1222 choice CU uncut vertical strip of 4 notes, with horizontal performation only, which while estimated at $125, was bid in for $510; an extremely rare inverted back 5¢ Friedberg 1238 (lot 3286) estimated at $250 that went for $925; another four note vertical strip of 10¢ Friedberg 1241 notes (lot 3289) which went for $510; another vertical strip of four notes of the 25¢ Friedberg 1280 estimated at $225 went to $675 and finally, an uncut four note vertical strip of 50¢ notes Friedberg 1311, with perforations both ways, that went for $525. Other notes, such as the crisp 25¢ Friedberg 1290, estimated at $60 went for $100; and similar results were realized almost across the board due to the heavy demand for choice items. LARGE SIZE U. S. CURRENCY Likewise, the demand for the large size U.S. and National bank notes was consistent and heavy. The $10 Friedberg 190 Compound Interest Note (lot 3392) went for $700 on an estimate of $600. Demand for some of the National bank notes was also heavy. For instance lot 3400 a $10 Friedberg 615 1902 Type II note on the National Bank of Visalia, California, went to $210 on an estimate of $35. Equally popular was a Kansas $20 note Friedberg 650 1902 Type III extremely Fine on the National Bank of Delphos that went to $170 on an estimate of $85. Apparently Massachusetts is also in fashion, for lot 3404, a $5 Friedberg 609 on the Brotherhood of Locomotive Engineers National Bank of Boston, Type III of 1902, went for $200 on an estimate of $35. Among the small size currency, error notes were in especial demand, the $1 Silver Certificate 1935D with inverted seal number and signatures (lot 3442) went to $125 on an estimate of $50; while a $10 Federal Reserve Note of 1950A (E-star), with mismatched numbers sold for $215 on an estimate of $100. Similar strength was shown in all of the error notes, lots 3443 through 3446. The sale closed with an offering of numismatic literature, most of the bank histories going for sums at or above estimate. Copies of the Guevrekian catalogue together with the prices realized can be procured from NASCA 265 Sunrise Highway, County Federal Building; Suite 53; Rockville Centre; Long Island, N.Y. 11570 for $10. ..t. Whole No. 68 Page 111 Now is the time to consign your coins and currency to New England Rare Coin Auctions. In Boston July 29 & 30, 1977 Sheraton-Boston Hotel Prudential Center At our early 1977 auctions, quality rare coins and currency brought extremely high prices, indicating both the strength of the market, and the confidence bidders have in New England Rare Coin Auctions. If you have a collection of coins or currency which you wish to dispose of at the highest possible prices, it makes sense to consider one of our Summer or Fall '77 auctions. Here are just a few reasons why: 1 Many of our regular clients are the verybuyers you want. They're active floor bidders and mail bidders from all over the United States and abroad, and they're always ready to buy. 2 We know how to advertise and promoteour auctions. Not just in THE NUMISMATIST, COIN WORLD, NUMISMATIC NEWS and PAPER MONEY . . . but in major newspapers like THE NEW YORK TIMES, and through teletype, multi-mailings, and personal contact. 3 We are known for our high prices realizedfor paper money. Our accurate grading and precise attribution have given us the reputation that helps you. In our March '76 auction we were pleased to have auctioned the extremely rare Federal ,. Dept. PM-2, 1661 September 23 & 24, 1977 Sheraton-Boston Hotel Prudential Center Reserve specimen notes from the famous Albert A. Grinnell collection of United States paper currency, previously catalogued and sold by Barney Bluestone from 1944 to 1946. As described by Bluestone "this lot is the piece-de-resistance of Mr. Grinnell's entire collection" ($8000); Series 1902 Jennings La. National Bank $10 note, almost Unc. ($550); Series 1861 $10 demand note, F-6, F-VF ($700); Series 1861 $10 demand note, F-7, Fine ($625); Series 1902 $10 First National Bank of Hawaii note, F-VF, ($425). Interested? Then call our President, Lee J. Bellisario, toll-free at 1 -800 -225 -3858 and he will personally discuss with you how your holdings can become part of our 1977 auctions. Or you can write to him at the address below. Either way, now is the time. 7 Art (NEW) ENGLAND RARE COIN AUCTIONS An Af f Ware of New. England Rare Co n Galleries Worcester Road, Framingham, Mass. 01701 111111111, Amii1100 Page 112 Paper Money mongymart Paper Money will accept classified advertising from members only on a basis of 54 per word, with a minimum charge of $1.00. The primary purpose of the ads is to assist members in exchanging, buying, selling, or locating specialized material and disposing of duplicates. Copy must be non-commercial in nature. Copy must be legibly printed or typed, accompanied by prepayment made payable to the Society of Paper Money Collectors, and reach the Editdr, Doug Watson, Box 127, Scandinavia, WI 54977 by the 10th of tbe month preceding the month of issue (i.e., Dec. 10, 1976 for Jan. 1977 issue). Word count: Name and address will count for five words. All other words and abbreviations, figure combinations and initials counted as separate words. No check copies. 10% discount for four or more insertions of the same copy. Sample ad and word count: WANTED: CONFEDERATE FACSIMILES by Upham for cash or trade for FRN block letters, $1 SC, U. S. obsolete. John Q. Member, 000 Last St., New York, N. Y. 10015. (22 words; $1; SC; U. S.; FRN counted as one word each) F-281 ONEPAPA STAR note wanted. Please state serial, grade, and asking price in first letter. Doug Murray, 326 Amos Avenue, Portage Michigan 49081 (68) WANTED NEW JERSEY Obsolete notes from Toms River and scrip of S.W. & W.A. Torrey for my collection. Describe and price. Bob Mitchell 2606 Lindell St., Silver Spring, Maryland 20902 (69) MISSOURI BANKING MATERIAL: checks, drafts, warrants, scrip, clearing house certificates, obsolete notes from all Missouri towns. Also bonds, stock certificates, tokens, medals, bank records, city directories, and local histories. Also want bankers directories before 1935, biennial reports on Missouri banks published by the state, and photos or postcards illustrating Missouri banks. Ship or write: Bruce W. Smith, Krause Publications, Box 57, Iola, Wisconsin 54945 (69) WANTED: STOCK CERTIFICATES and bonds—all types—any quantity. Please write—I'm eager to buy! Ken Prag, Box 431PM, Hawthorne, California 90250 (74) 1907 DEPRESSION SCRIP wanted from Iowa, South Carolina, Montana, Wisconsin, Georgia, Maine and several other states. Write to Tom Sheehan, P.O. Box 14, Seattle, WA 98111 (67) WANTED: GEORGIA OBSOLETE currency, scrip. Will pay fair prices. Especially want—city, county issues, Atlanta Bank, Bank of Athens, Ga., R.R. Banking, Bank of Fulton, Bank of Darien, Pigeon Roost Mining, Monroe R.R. Banking, Bank of Hawkinsville, La Grange Bank, Bank of Macon, Central Bank Miledgeville, Ruckersville Banking Co., Bank of St. Marys, Bank of U.S., Central R.R., Marine Bank, Cotton Planters Bank. Many other issues wanted. Please write for list. I will sell duplicates. Claud Murphy, Jr., Box 921, Decatur GA 30031 (64) WANTED DELAWARE LARGE and small size National Bank Notes also Lazy Two's any state. Write with full description and price, or trade interest. All inquiries answered S. C. Michaels P. 0. Box 571 Quakertown PA 18951 (71) SHORT RUN Crisp, uncirculated 1974 $1 FRN BB EC FB FC blocks, serials over 99840001 $50 each. FD under 00640000 $10. James Seville, Drawer 866, Statesville, N.C. 28677 (68) WANTED RUSSIA PAPER money issued from 1769 till 1896 inclusive. Submit list indicated denomination, year of issue, condition and price desired, or ship note registered for our offer. Byckoff, Box 786, Bryte, California 95605 (70) WANTED: TEXAS SMALL size National Bank Notes. Write with full description and price. Warren D. Barton, P. 0. Box 1964, Midland, Texas 79702 ARTISTIC CARD ENGRAVINGS of Presidents. Beautiful. 9 different $47.50. Ten different counterfeit and fantasy Confederate bills. $50.00. Lot of 100 stock certificates $14.00. Uncut sheets old obsolete bills $14.75. Old antique invoices 300 each. Frank Sprinkle, Box 864, Bluefield, W. Va. 24701 ILLINOIS NATIONALS WANTED from Yorkville, Urbana, Wheaton, St. Charles, Cairo, Geneva, Woodstock. Grade and price. Trades. Fred Zinkann, 82 E. Circle, Aurora, II 60538 MISSOURI CURRENCY WANTED: Large-size Nationals, obsolete notes and bank checks from St. Louis, Maplewood, Clayton, Manchester, Luxemburg, Carondelet and St. Charles. Ronald Hortman, Rt. 2, Gerald, MO 63037 (68) MORMON-SCOUT-OLD newspapers-documents wanted. Large quantities only. Harry L. Strauss, Jr., Box 321, Peekskill, NY 10566 (74) KANSAS BANKNOTES WANTED: serious collector seeks National Banknotes from Kansas and interesting notes from other states. Please price and describe. C. Dale Lyon, Box 1207, Salina, KS 67401 (69) "WANTED OBSOLETE CURRENCY of the Merchants and Planters Bank of Savannah, Georgia. Please describe and price in first letter. Gary Hacker, 2710 Overhill Road, Pekin, IL 61554." (68) NEW JERSEY OBSOLETE (Broken Bank) notes, sheets, scrip and checks wanted for my collection. I have some duplicates for trade. John J. Merrigan Jr., 2 Alexandria Drive, East Hanover, NY 07936 (78) FRENCH INDO-CHINA, VIETNAM banknotes, MPC wanted. Duplicates traded. Describe and price first letter. (ANA 10 550). Mervyn H. Reynolds, P. 0. Box 1355, Fort Eustis, VA 23604 (67) WANTED NEW JERSEY large and small size National Bank Notes. Write with full description and price. Robert W. Hearn, P. 0. Box 233, Hackensack, NJ 07602 (67) Whole No, 68 Page 113 WANTED WELLS FARGO 2nd competitor banks, fiscal documents, Certificates of Deposit, Bills of Exchange, Sight Drafts, checks. Anything to do with California gold rush. Steve Meier, 135 E. Lomita Blvd., Carson, CA 90745 (73) WANTED: BBN's, OBSOLETES (especially Conn.), Confed., Uncut sheets. Will buy, trade. George Emond, P. 0. Box 1076, New Britain, Conn. 06050 (68) NEW HOPE DELAWARE Bridge Company notes and related items wanted. Price and describe, please. Robert W. Ross III, P. 0. Box 765, Wilmington, Delaware 19899 PAPER MONEY MAGAZINES for sale or trade. Whole numbers 24 thru 60. Ray Clarke, 1820 Howe Lane, Maple Glen, PA 19002 LARGE STAR NOTES wanted: F-92, F-119, F-120, F-257, F-303, F-321, F-322, any Gold Certificate -B. Doug Murray, 326 Amos Avenue, Portage, Michigan 49081 (71) SMALL STAR NOTES wanted: Any with eight (8) identical digits, any $2 FRN with serial 00000474. Doug Murray, 326 Amos Avenue, Portage, Michigan 49081 (71) COLORADO AND CHICAGO area 1929 nationals wanted. Have over 200 nationals (large and small) to trade or will buy. Send for lists. John Parker, P. 0. Box 3004, Denver, Colorado 80201 (71) WANTED PLATE INITIALS in margins of US paper money. Will buy, trade, and swap information. Samuel Smith, 407 Lincoln Road 7B, Miami Beach, FL 33139 (70) SMALL SIZE NATIONALS wanted. Any state. Write first, all letters answered. Frank Bennett, 6480 NW 22 Court, Margate, FL 33063 (72) SELECT CONFEDERATE NNOTES, obsolete, Confederate bonds, large U.S., choice small U.S., and a few National notes. All on our latese currency list available for a large SASE. Ann Shull, 246 McDonnell Sq., Biloxi, MS 39531 (69) WANTED NEW JERSEY Obsolete notes and scrip as follows; The Delaware and Hudson Bank, The Union Bank, The Ocean County Bank, The Bank of Trade, The Exchange Bank, all of Toms River. Also want The Ocean Bank at Bergen Iron Works. Describe and price. Bob Mitchell, 2606 Lindell Street, Silver Spring, Maryland 20902 COUNTERFEIT FOREIGN CURRENCY wanted, both banknotes and coins. Obsolete only. Doug Watson, P.O. Box 127, Scandinavia, WI 54977. WANTED: GEORGIA OBSOLETE currency, scrip. Will pay fair prices. Especially want—city, county issues, Atlanta Bank, Bank of Athens, Ga., R.R. Banking, Bank of Fulton, Bank of Darien, Pigeon Roost Mining, Monroe R.R. Banking, Bank of Hawkinsville, La Grange Bank, Bank of Macon, Central Bank Miledgeville, Ruckersville Banking Co., Bank of St. Marys., Bank of U.S., Central R.R., Marine Bank, Cotton Planters Bank. Many other issues wanted. Please write for list. I will sell duplicates. Claud Murphy, Jr., Box 921, Decatur, GA 30031. (64) OHIO COUNTERFEIT REPORTED Collectors of Ohio obsolete bank notes who have specimens from Painesville's Bank of Geauga may actually hold an example of one of the best-executed counterfeit notes of the era, according to a November, 1862 issue of "Banker's Magazine". Under the title "Fraudulent Bank Notes," the journal told how a stranger presented a package of such bills at a Washington, D.C. bank, for the purchase of U.S. demand notes in the amount of several hundred dollars. "The transaction was apparently a fair one, but the attention of one of the partners being drawn to the offer, he pronounced the bills fraudulent. The applicant was arrested, and upon being brought before the police magistrate, the former was, by some misplaced clemency, liberated; but the bills were retained for further examination." The magazine continues the story by reporting that the bills were examined by a former bank note engraver who pronounced them genuine; then they were forwarded to a large New York banking house where they were also pronounced good. Nevertheless, the Washington bankers submitted some of the notes to Cincinnati for examination and "there the fraud was instantly detected by the bankers in that city." The magazine concluded "These circumstances show that the community at large have little or no protection against fraudulent bank bills. If experts, such as bank tellers and bank note engravers are so readily deceived by well executed fraudulent bills, it cannot be expected that merchants, traders and others will be prepared to detect such frauds." CONFEDERATE STATES PAPER MONEY. 5th edition. By Arlie Slabaugh. 5 1/4" x 7 3/4", 80 pages, illustrated. Hewitt Numismatic Publications. $2.50. There is no better proof that Confederate paper money is rising in price than to have all editions of Arlie Slabaugh's popular catalog, "Confederate States Paper Money," to compare prices. Valuations in the new 5th edition just released range from $3 to over a couple thousand dollars each for uncirculated notes which is two to ten times the price most of these notes were listed at in the first edition published in 1958. Slabaugh's catalog is preferred by those who collect Confederate notes by types. Each type is illustrated, described and priced in two or more grades. Further, the softbound, 5 1/4 x 7 3/4", 80-page catalog is handy to carry with you. Despite its size, a strong point of the catalog has always been the amount of background data it contains on Confederate currency. Part II of the catalog contains data on chemicographic backs, uncut sheets, errors, Upham facsimile notes (25 kinds listed), bogus notes, etc. A cross- index is also included which correlates the catalog numbers of all major catalogs of Confederate currency. Surely, a good bargain at $2.50 from dealers or direct from the author, 1025 Crozer Lane, Springfield, Pa. 19064. Dealers may obtain quantity prices by writing the publisher, Hewitt Numismatic Publications, 7320 Milwaukee Ave., Chicago, Ill. 60648. Page 114 Paper Money „,, `471// FREE $12.50 VALUE FRACTIONAL CURRENCY OF THE UNITED STATES BY D. W. VALENTINE VOL. 1 & 2 1976 REPRINT The Bible on the Subject — Originally Published in 1921 NOW SELLING NATIONALLY AT $12.50 NASCA — Numismatic and Antiquarian Service Corporation of America is delighted to announce that they have reprinted 1,000 copies only of this "classic" work in 1 single soft covered edition. Bringing as much as $50-$70 at auction (when a copy is available), the work can be yours AT NO CHARGE! It is our gift to you as a way of introducing you to our fine public auction sale catalogues. FOR A LIMITED TIME ONLY ... we will send FREE — The 1976 reprint to all those who subscribe to our 1977 auction sale cata- logues @ $10.00 per annum. Just fill out the card and mail it. We will send the book to you with our bill. PNASCA c/o Herbert Melnick NASCA 265 Sunrise Highway — Suite 53 NUMISMATIC AND ANTUSUARIAN SERVICE CORFOSATITIN Cr AMFAIC A Rockville Centre, N.Y. 11570 265 Sunrise Highway. County Federal Bldg Stale 53 Rockville Centre. L I . New York 11570 Please enter a 1977 annual subscription 'a 516/764-6677-78 I $10.00 and send me my FREE Valentine-Frac- tional Currency — 1976 Reprint. NAME ADDRESS CITY _ STATE ZIP Whole No, 68 Page 115 Make your plans NOW to attend RARCOA'S CENTRAL STATES NUMISMATIC SOCIETY ANNUAL CONVENTION AUCTION SALE Featuring the Harley L. Freeman Collection Mr. Freeman spent many years assembling the most complete and extensive collection of Florida material ever to be presented for public auction. An offering of this type is not likely to be repeated in the future. Included are: • The UNIQUE 177 — Pensacola, Florida Colonial Scrip Note • The most complete grouping of Florida Obsolete Notes ever presented • A virtually complete run of Territory of Florida notes • A virtually complete run of State of Florida notes • A superb group of PROOF Notes • Virtually all plate notes used for Mr. Freeman's book "Florida Obsolete Notes and Scrip" Other outstanding material in this sale includes: • A virtually complete die variety collection of Bust Type Half Dimes by Valentine and Breen numbers. Most are Choice Uncirculated. • A fine offering of United States Type Coins. All denominations, from Half Cents through Trade Dollars, are represented. Among the many highlights are a Choice Uncirculated 1796 Dime, a nice selection of Choice and Gem Barber Quarters in both Uncirculated and PROOF condition, and nearly complete sets of Choice Morgan and Peace Dollars. • The United States Gold section contains truly a SUPERB selection: • Quarter Eagles: many PROOFS, and an. 1875 in Uncirculated. • Three Dollars: PROOFS of the following dates — 1857, 1868, 1875, 1876, 1883 and 1885. • Half Eagles: a 1797 Small Eagle, 16 Star Variety plus several PROOFS. • Eagles: both varieties of 1798. • Double Eagles: PROOFS of 1873, 1874, 1876, 1884, 1885, 1887, 1891, 1904 and an 1886 in EF. • Territorials: a VF Wass Molitor Round, and an Eagle Mining Company $50 Ingot. • TWO Panama-Pacific Sets. CONVENTION DATES ARE: MAY 13-15, 1977 RED CARPET EXPO CENTER • MILWAUKEE, WISCONSIN THIS INVALUABLE REFERENCE CATALOGUE WILL BE READY APRIL 15 Cost of three dollars includes the catalog and list of prices realized RARE COIN COMPANY OF AMERICA, INC. 31 North Clark Street • Chicago, Illinois 60602 Telephone: 312/346-3443 J POSTAGE AND INSURANCE, ADD 50d. CALIF. SALES TAX 6%. 3000 NOTES AVAILABLE PRICED 53.535. ENCLOSE 13d SASE AND MENTION SUBJECTS/STATES OF INTEREST AND CONDITIONS DESIRED. SPMC 3791 P.O. BOX 61 Donald E. Embury WILMINGTON, 90744 STATE DEN DESCRIPTION DATE COND. PRICE Mo. 10.00 Terre Haute Alton & St. Louis RR Co. 1859 FINE 15.00 COND. PRICE La, 2.00 Louisiana State Bank 1861 UNC 17.50 UNC 15.00 La. 1.00 J.J. Mistrot & Co. 1862 GOOD 35.00 La. 5.00 State of Louisiana, #25 c/c 1866 AU 50.00 Mary. 6'49 Mayor & City Council VG 75.00 of Baltimore 1857 GOOD 15.00 Mich. 1.25 Bank of Pontiac 1854 EF 125.00 Mich. 3.00 Collins Iron Works 1873 G/VG 125.00 VG 75.00 Mich. 109 Cooper Thompson & Co. 1862 EF 30.00 Miss. 259 Madisonville & Pearl River VG P.O.R. Turnpike Co. 1838 GOOD 95.00 UNC 35.00 Miss. 10.00 Mississippi & Alabama RR Co. 1838 UNC 95.00 UNC 10.00 Mo. 4.50 Missouri Defence Bond, #15 186 EF 40.00 UNC 105.00 Mo. 3.00 State of Missouri, #9 1862 UNC 40.00 Nebr. 5.00 Nemaha Valley Bank 1857 FINE 25.00 UNC 22.50 Nebr. 3.00 Waubeck Bank 1857 FINE 37.50 VG/F 125.00 Nebr. 5.00 Territorial Warrant 1860/50 EF 50.00 VF/EF 15.00 N. Jer. 1.00 Morris Canal & Banking Co 1841 UNC 14.00 FINE 15.00 N. Jer. 3.00 Morris Canal & Banking Co 1841 UNC 27.50 VF 40.00 N. York 1000. International College Bank 1866 FINE 75.00 V.F 35.00 N. York 6d OWEGO VILLAGE 1, 1, ? POOR 35.00 AU 14.00 N. York 10d Scott's Nine Hundred U.S. Cavalry, SUTLER FINE 17.50 UNC 35.00 N. Car. 509 Mount Hecla Steam Cotton GOOD 60.00 Mills 1837 GOOD 50.00 FINE 50.00 N. Car . 1.00 Mount Hecla Steam Cotton UNC 45.00 Mills 1837 VG 50.00 Ohio 5.00 Lafayette Bank of Cincinnati EF 50.00 (Decl. incl.) 1846 AU 25.00 AU 50.00 Ohio 5.00 Kirtland Safety Sbciety Bank 1837 GOOD 150.00 AU 50.00 Ohio 849, 12'69 EZRA GRISWOLD 1816-7 VG 25.00 VG 10.00 Okla. 10d, 25d J.J. McAlester 190 UNC 20.00 OBSOLETE CURRENCY STATE DEN DESCRIPTION DATE Ala. 100,000 State of Alabama 1864 Ark. 1,00 Stirman & Dickson Merchandise City, Fort Smith 1862 Ark. 2.00 Stirman & Dickson Merchandise City, Fort Smith 1862 Calif. 1.00 Merchandise Store, 9th & J, Sacramento 1883 Calif. 1.00 Chesnutwood's College Bank 1884 Calif. 10.00 S.F. Clearing House Certificate 1907 Canada 1, 3, 5.00 Bank of Clifton (3) 1859 Canada 7% -d 15d 2 s 6d Champlain & St. Lawrence RR (3) 1837 Canada 10.00 Mechanics Bank 18?? D.C. 1.00 Bullion Bank 1862 D.C. 3.00 Columbia Bank 1852 Fla. 50.00 State of Florida 1861 Fla. 3.00 Tallahassee RR Co. 18 _ Geor. 4.00 Bank of Augusta 18 Haw. 1.00 Honolulu Clearing House Certificate 1933 10.00 Bruckman & Andrews 1.00 First National Bank Ind. 2.00 American Bank 1856 Ind. 3.00 Fort Wayne & Southern RR Co. 1854 Kans. 5.00 Union Military Scrip 1867 Kans. 10.00 Union Military Scrip 1867 Kenty 1.00 Frankfort Bank 18?? MISSISSIPPI OBSOLETES TOWN & LEGGETT. 9 DEN ISSUE DATE COND. RARITY PRICE Aberdeen #10 55 Bank of Aberdeen 1862 VG 126 565.00 Brando n #9 55 Miss & Ala RR Co 1837 F RI 15.01) Brandon #13 55 Same 1836 F R3 35.00 Brandon #14 SIB Same 1838 XF R3 35.00 Brandon #20 S10 Same 1838 F 126 60.00 Brandon #16 510 Same 1837 AU R5 50.00 Brandon #21 S20 Same 1838 F R1 20.00 Brandon Same as above but AU RI 25.00 Brandon #25 325 Same 1837 F 124 30.00 Brandon #26 825 Same 1837 XF 123 35.00 Brandon #28 550 Same 1838 XF R2 30.00 Brandon Same as above but 122 15.00 Brandon #32 5100 Same 1838 XF 122 30.00 Canton #11 550 New Orleans, Jackson & Grt No RR Co. 1862 G 114 20.00 Columbus #1 259 Columbus Lite & Gen. 1864 VG R2' 15.00 Grenada #18 53 Miss & Tenn 1212 Co. 1862 VG R6 50.00 Grenada #15 SI Same 1862 F R5 35.00 Holly Springs-Unlisted Miss Central RR Co 1862 UNC R5 70.00 Holly Springs #16 59 Same 1862 AU RI 25.00 Holly Springs #17 109 Same 1862 G RI 10.00 Holly Springs #18 259 Same 1862 VG RI 10.00 Holly Springs #19 509 Same 1862 VG RI 10.00 Holly Springs #20 759 Sartre 1862 F RI 12.00 Holly Springs #22 S2 Same 1862 AU RI 25.00 Holly Springs #23 S3 Same 1862 G RI 10.00 Holly Springs #13 51 McEwin-King & Co 1838 G 127 6)1.00 Holly Springs #25 15 Northern Bank of Miss 1862 VG R5 35.00 Madisonville #4 S5 Bank of Madison County 18_ VG R5 45.00 Natchez #6 520 Agri. Bank of Miss 1836 VF 122 20.00 Natchez #7 550 Same 1840 XF R3 35.00 TOWN & LEGGETT. DEN. ISSUE DATE COND. RARITY PRICE Natchez #10 $100 Same 1839 XF R5 50.00 Natchez 925 109 City of Natchez 1862 XF R5 50.00 Natchez #18 109 Same 1863 XF R4 40.00 Natchez #23 259 Same 1863 XF R4 40.00 Natchez #25 50d Same 1862 VG R7 50.00 Natchez p24 259 Same 1862 R4 35.00 Natchez #26 509 Same 1862 F R4 35.00 Natchez #46 55 Miss. RR Co. 1839 VF R4 40.00 Natchez #48 S10 Same 1839 R4 30.00 Natchez #50 $20 Same 1839 F R4 35.00 Natchez #51 S50 Same 1839 XF R4 40.00 Natchez #52 S50 Same 1839 F 124 35.00 Natchez #69 $100 The Planters Bank 1838 VF R4 40.00 Princeton #10 S20 Lake Washington & Deer Creek RR Co. 1837 F 126 75.00 Princeton #9 510 Same 1838 XF R6 75.00 Vicksburg #20 520 Commercial & RR Bank of Vicksburg 1835 F R5 50.00 Vicksburg #30 259 Southern RR Co. 1861 VG R2 10.00 Vicksburg #32 509 Same 1861 R2 10.00 Vicksburg #34 S2 Same 1862 VG R2 10.00 Vicksburg #36 53 Same 1862 VG R3 15.00 Vicksburg #37 S4 Same 1862 VF R4 25.00 Woodville #9 SI West Feliciana RR Co. 1862 R6 65.00 *Leggett number from "MISSISSIPPI OBSOLETE PAPER MONEY & SCRIP"- by L. Candler Leggett, available thru SPMC. Seven day return privilege. All orders shipped within 48 hours. L. CANDLER LEGGET P.O. BOX 9684 JACKSON, MS. 39206 AREA CODE (601) 366 -3171 SPMC ANA MNA Page 116 Paper Money Whole No. 68 Page 117 FORSYTHE County of Monroe, any note. Monroe R.R. & Banking Co., (Branch), any note. FORT GAINES Fort Gaines, any note. FORT VALLEY Agency Planters Bank (Scrip), any note. GAINESVILLE City of Gaineville, any note. GEORGETOWN John N. Webb, any note. GREENSBOROUGH D.B. Lanford, any note. BANK OF THE STATE OF GA (BRANCH) (RARE) Pay high, any note. BANK OF GREENSBOROUGH, any note. GREENVILLE County of Merriwether, any note. GRIFFIN City Council of Griffin, any note. County of Spaulding, any note. Exchange Bank, any note. Interior Bank, any note, also CONTEMPORARY COUNTERFEITS. Monroe R.R. & Banking Co. (Branch), any note. HAMILTON Harris County (HAMILTON NOT ON NOTES), any note. HARTWELL Hart County, any note. HAWKINSVILLE Agency Planters Bank (Scrip), any note. Bank of Hawkinsville, any note. Pulaski County, any note. JACKSON Butts County, any note. JONESBORO' Clayton County, any note. JEFFERSONTON (Scrip), any note. LA FAYETTE Western & Atlantic R.R., any note. LA GRANGE La Grange Bank, any note,—DON'T WANT "RECONSTRUCTIONS." LUMPKIN Stewart County, any note. MACON Bank of Macon, any note, especially notes payable at Branch in Bank of Middle Georgia, any note. BANK OF THE STATE OF GA. (BRANCH), (RARE) pay high, any note. BILL OF EXCHANGE (Issued from Charleston S.C.) any note, especially signed. Central R.R. & Banking Co. (Branch), any note. City Council of Macon, any note. City of Macon, any note. Commercial Bank, any note. D. Dempsey, any note. Exchange Bank (1893), any note. Insurance Bank, any note. Macon & Brunswick R.R., 83.00 & higher. Macon & Western R.R., any note. Manufacturers Bank, any Fractional; 810.00, 820.00, 550.00, 5100.00. Marine & Fire Insurance Bank (Branch), any note. Merchants Bank, any note. Monroe R.R. & Banking Co., any note. Ocmulgee Bank, $50.00, S100.00. Southwestern R.R., any note. UNION BANK (1893), any note. Wagnon Saloon, any note. MADISON (Scrip), any note. MARIE'TTA H.H. HOWARD & CO., CONTRACTORS WESTERN & ATLANTIC R.R., any note. Western & Atlantic R.R., any note. MARION Bank of Darien (BRANCH), any note. MILLEDGEVILLE Bank of Darieti (BRANCH), any note. Bank of the State of Ga., (BRANCH), (RARE), Pay high, any note. Central Bank, (RARE), pay a lot, any note. John Lucas, any note. STATE OF GEORGIA, CRISWEL #9 & 10., (83.00 & S4.00, 1863). MILL MOUNT, MURRAY COUNTY Western & Atlantic Railroad, any note. MONTICELLO Jasper County, any note. Store note, any, especially signed. MORGAN Bank of Morgan, any note, especially S10.00, $20.00, $50.00, $100.00. NEWNAN Coweta County, any note. OXFORD Oxford Bank, any note, especially signed. PERRY Central George Bank, any note. Farmers Bank, (of MARIANNA FLA., BRANCH AT PERRY), any note. QUITMAN Brooks County, any note. RINGGOLD Northwestern Bank, any Fractional; $10.00, 820.00. RISING FAWN Rising Fawn Furnace, any note. Walker Iron & Coal Co., 51.00, 85.00. ROME Bank of the Empire State, most fractionals; $10.00, $20.00, 850.00, $100.00. Foster & Norris, any signed notes. (Often confused with above Bank. These are red and green). J.R. Payne, any note. Rome Clearing House Association, (1933), any note. Rome Railroad, any note. VERANDAH (Scrip), any note. Western Bank of Ga., any note. RUCKERSVILLE Ruckersville Banking Co., (Rare), Pay high, any note. SANDERSVILLE George D. Worthen, any note. SAVANNAH Atlantic & Gulf R.R., 81.00, $2.00, VF or better. Bank of Commerce, $50.00, $100.00, $500.00. Bank of St. Marys (Branch), any note. Bank of Savannah, any Fractional; 820.00. 850.00, 8100.00. Bank of the State of Ga., $50.00, 3100.00. BANK OF THE UNITED STATES, (Branch), (Rare), I will pay a Bunch for any note, also want CONTEMPORARY COUNTERFEITS. Central R.R. & Banking Co., any Engraved Pre-War note. City of Savannah, any note. City of Savannah,—Pre-1800 "ANIMAL NOTES", (Rare), I will pay a lot. Commercial Bank of Ga., any note, especially signed. Farmers & Manufacturers Bank, any note especially signed. Farmers & Mechanics Bank, almost any fractional; $3.00, 850.00, $100.00. Marine Bank, Pre-War $1.00 to 8100.00. Marine & Fire Insurance Bank, any note. Mechanics Bank of Savannah, any note. Mechanics Savings & Loan Association, (Note very common & listed to prevent confusion with last bank). Will pay $1.00 to $1.50. I don't want many. Merchants & Planters Bank $1.00 &' 82.00, without Red overprint; $50.00, 8100.00. Merchants Savings Bank, any note. Planters Bank of the State of Ga., $50.00, 5100.00, and any pre-1850 note. Timber Cutters Bank. any FraCtional; 810.00 - $20.00 with Red overprint; 850.00, 8100.00. SHOALS OF OGEECHEE Scrip, any note. SPARTA Scrip, any note. ST. MARY'S Bank of St. Marys, any note. Corporation of St. Marys, any note. SUMMERVILLE Henley & Mitchell, any note. Weathen & Wyatt, any note. THOMASTON Upson County, any note. THOMASVILLE Cotton Planters Bank, any note WASHINGTON Bank of the State of Ga. (Branch), $50,00, $100.00. WEST POINT Wills Valley K.R., most fractionals; $1.00, 82.00, 83.00. MISCELLANEOUS Sutler Notes, if any. Postmaster notes, any. Oglesby Manufacturing Co., any. ALTERED NOTES (Altered to or from Ga. notes). Notes overprinted with Georgia advertisements. DID I LEAVE ANY OUT? WRITE. georgia obsolete currency wanted The following is a partial wantlist of Georgia currency wanted for my collection. I will pay fair and competitive prices for any Georgia notes. If you have Georgia currency for sale, please write, or send for my offer. Any material sent for offer, held until my check is accepted or refused. Member of the ANA for 18 years, No. 31775. Claud murphy, jr. BOX 921 DECATUR, GEO. 30031 PHONE (404) 876-7160 After 5:30 EST • LAND GRANTS • TREATIES • LOTTERY TICKETS • BONDS • SOLDIERS' PAY SCRIP • BROADSIDES BOSTON, MA 0210843 BROMFIELD ST. Tel. 617-542-0023 428-3298 OV TIE R FY, DECAD ( Phone AC 904 685-2287) CRISWELL'S CITRA, FLA. 32627 WANTED U. S. COLONIAL CURRENCY & DOCUMENTS Of The Era Of Inquiries or want lists are respectfully solicited We Are The COLLECTORS' DEALER J. J. TEAPARTY Member: ANA SPMC PNG If you are not on our mailing list, write today for your free copy of our latest 48 Page offering of notes, and send us your WANT LIST. CONFEDERATE AND SOUTHERN STATES CURRENCY LATEST EDITION (1976), (Autographed if You Wish) Revised, 300 Pages, Hard Bound. $15 As America's Largest Dealer in Obsolete Currency Means Very Simply That .. . MIER CMS ELL CAN HELP YOU BUY OR SELL! Page 118 Paper Money Whole No. 68 Page 119 DOLLOFF COIN CENTER CURRENCY AUCTION SALES OFFERS: Mail Bid Sale of U.S.Fractional and Colonial Currency Lot # Description FRACTIONAL CURRENCY 1 F#1226 VF/XF Few Pin Holes 2. F#1226 Crisp AU 3. F#1230 Good 4.F#1230 XF 5. F//1230 UNC Right Margin Close 6. F#1230 UNC 7. F#1230 UNC 8. FM 232 CRisp AU 9. F#1242 V.F. 10. F#1242 VF/XF 11. F#1244 Light Stain X.F. 12. F#1244 Crisp AU 13.F#1255 V.F. 14. F#1255 Crisp AU 15. E#1257 UNC 16. F#1265 X.F. 17. F#1265 UNC with 1 Pin Hole 18. F#1265 UNC 19. F#1267 Crisp AU small Tear 20. F#1281 Fine 21. F#1281 F/VF 22. F#1281 VF 23. F#1285 X.F. 24. F#1294 XF Close cut margin 25. F#1302 XF 26. F#1308 XF/AU 27. F#1309 X.F. 28. F#1309 Crisp AU 29. F#1328 VF&XF 30. F#1331 UNC 31. F#1356 UNC 32. F#1376 Fine 33. F#1379 Fine 34. F#1381 Fine 35. F#1381 F/VF FRACTIONAL CURRENCY SPECIMEN NOTES 36. F#1273-SP N UNC 37. F#1294-SP N UNC 38. F#1328-SP N UNC 39. F#1343-SP N UNC 40. F#1355-SP N UNC COLONIAL CURRENCY CONNECTICUT 41. 6/7/76 1S. UNC 42. 3/1/80 9d HC UNC 43. 3/1/80 105 HC UNC 44. 7/1/80 20S HC VF 45. 3/1/80 40S HC UNC 46. 7/1/80 20S HC XF Lot # Description COLONIAL CURRENCY DELAWARE 47. 6/1/59 20S. Reinforced on Rev. with Tape V.G. 48. 6/1/59 20S. Reinforced Back VG Plus 49. 1/1/76 18d XF 50. 1/1/76 4S. XF 51. 1/1/76 4S. UNC 52. 1/1/76 6S. UNC 53. 1/1/76 6S. Nice Crisp UNC B.M. Close Cut 54. 1/1/76 10S. GEM GRISP UNC 55. 1/1/76 20S. UNC 56. 5/5/77 3d Crisp AU Dark Color GEORGIA 57. 1776 Light Blue 810 XF Small Very light Stain B.M. MARYLAND 58. 4/10/74 $2/3 XF 59. 4/10/74 $4 XF 60. 4/10/74 84 A.U. 61. 4/10/74 $6 XF MASSACHUSETTS 62. 5/5/80 81 HC VF 63. 5/5/80 81 HC XF 64. 5/5/80 $2 HC XF 65. 5/5/80 $8 UNC 66. 5/5/80 $20 HC XF NEW HAMPSHIRE 67. 4/29/80 83 HC VF 68. 4/29/80 $5 HC VF 69. 4/29/80 85 HC XF 70. 4/29/80 $7 HC AU NEW JERSEY 71. 3/25/76 18d GEM CRISP UNC 72. 3/25/76 3S GEM CRISP UNC 73. 4/25/76 30S L.M. Close BRIGHT UNC 74. 3/25/76 3 Pounds UNC NEW YORK 75. 9/2/75 810 Small Repair spot B.L. Corner UNC 76. 10/13)76 81/16 F NORTH CAROLINA 77. 12/71 5S F/VF 78. 12/71 5S XF Lot # Description COLONIAL CURRENCY PENNSYLVANIA 79. 3/20/71 15S VF 80. 4/3/72 18d AU 81. 4/3/72 2S6d XF 82. 3/20/73 16S AU 83. 10/1/73 5S AU 84. 10/1/73 15S AU 85. 3/25/75 14S XF 86. 7/20/75 20S UNC 87. 10/25/75 4d VF 88. 10/25/75 9d VG/F 89. 10/25/75 9d VF 90. 10/25/75 9d UNC 91. 12/8/75 30S F 92. 12/8/75 30S UNC 93. 4/25/76 18d UNC 94. 4/25/76 20S XF 95. 4/25/76 40S VF 96. 4/10/77 3d XF 97. 4/10/77 4d XF Blk 98. 4/10/77 4d UNC Blk 99. 4/10/77 6d UNC Blk 100. 4/10/77 18d VG Blk 101. 4/10/77 16S UNC Blk RHODE ISLAND 102. 7/2/80 $3 VF 103. 7/2/80 $3 VF/XF 104. 7/2/80 87 UNC 105. May 1786 1S UNC VERMONT 106. Feb. 1781 1 Shilling Two Folds, 1 Horizontal at center other vertical at center. HOrizontal fold 25% intact and Vertical fold 80% intact. Note is in it's original state of circulation with no repairs or attempted improvements. OVerall a Strong VF. VIRGINIA 107. 5/7/81 8100 XF CONTINENTAL CURRENCY 108. 2/17/76 81/2 F 109. 2/17/76 84 F 110. 11/2/76 $30 XF 111. 9/26/78 $50 VG/F 112. 9/26/78 $60 VF/XF END OF SALE ANA Life Member Usual Mail Bid Sale rules apply. All lots guaranteed genuine with full return privileges within seven days receipt of successful bids. All Fractional Specimen notes are narrow margin. Following abbr. are used. HC-Holed cancelled, S-Schilling, d-Pence, B-Bottom, L-Left, R-Right, M-Margin. Sale closes one month after publication mailing date. All lots kept in bank vault with appointment necessary for inspection. Mail Attention Currency Auction DOLLOFF COIN CENTER 116 State Street Portsmouth, N.H. 03801 603 -436 -0332 Closed Wed. SMALL-SIZE MASSACHUSETTS NATIONAL CURRENCY WANTED #1386 Abington #462 Adams #4562 •Adams #1049 Amesbury #393 Amherst #2172 Athol #3073 Ayer #969 Beverly #643 •Boston #684 Milton-Boston #11347 Braintree #11270 Chelsea #14087 Chelsea #7452 Danvers #7957 Edgarton #490 •Fairhaven #9426 Foxboro #484 •Haverhill #14266 Haverhill #13395 Hyannis #4774 Ipswich #1329 •Lowell #697 Lynn #1201 •Lynn #268 Merrimac #12800 Methuen #866 •Milford #13835 Millbury #383 Northampton #1279 Northbourgh #5964 •Pepperell #1260 •Pittsfield #4488 Reading #934 Southbridge #8150 South Deerfield #2288 Spencer #2435 •Springfield #1170 •Stockbridge #947 Taunton #1274 Tisbury #688 Waltham #2312 Webster #13780 Webster #421 Westboro #769 •Whitinsville #4660 Whitman #11067 •Woburn #14033 Woburn Those notes with dots indicate large size notes for trade. JOHN R. PALM 6389 St. John's Drive Eden Prairie, Minnesota 55343 REMEMBER Awe ISM Because Mate the next 4D DE4DUNE Page 120 Paper Money WANTED * * New Jersey State Nationals * * (Small Size—Series of 1929) NORTH ARLINGTON, Charter No. 12033 PALISADES PARK, Charter No. 14088 (Large Size; 1st, 2nd, and 3rd Charter Periods) FORT LEE, Charter No. 12497 HACKENSACK, Charter No. 1905 LYNDHURST, Charter No. 10417 NORTH ARLINGTON, Charter No. 12033 RAMSEY, Charter No. 9367 RIDGEFIELD PARK, Charter No. 9780 RIDGEWOOD, Charter No. 11759 The Above Nationals wanted in any condition and in any denomination. Just ship with best price for prompt payment to: WOODCLIFF INVESTMENT CORP. P. 0. BOX 135 LODI, N.J. 07644 PHONE (201) 327-1141 S.P.M.C. #2127 Fractional Currency selling: High quality and/or scarce notes, fully described and attributed. New list available on request, or send your want list. buying: Nice condition fractional and/or related material, etc. Write first, with description. Tom Knebl, ANA, SPMC, NASC, CSNA. Classic dept. P Box 5043 Santa Ana, Calif. 92704 1 6 I OBSOLETE PAPER MONEY of New Jersey WILLIAM H. HORTON, JR. P. 0. Box 302 Cliffwood, N.J. 07721 201-566-0772 CONFEDERATES, OBSOLETES LARGE TYPES, NATIONALS BUYING-SELLING-TRADING My 6 page list of notes for sale is available free for the asking. Many scarce notes are included. Please send me your want list. I have been buying for twenty years and I know the value of nice currency. I will pay more and it will pay you to contact me on one scarce note or a whole collection. I have a special interest in notes issued on Salis- bury, N.C. in both obsolete and nationals, please give me a chance on these notes. I will look forward to hearing from you real soon in what-ever capacity we may deal from listed above and I will promise you complete satisfaction. JAMES A. SPARKS, JR. ANA, SPMC, PMCM P. 0. Box 4235, SALISBURY, N.C. 28144 WANTED KANSAS NATIONALS „:20 AIttlasou National 1 TYPE NOTES WANTED Any Original Series $10 V.G. or better pay 450.00 Any Original Series $20 V.G. or better pay 600.00 Any Series of 1875 $50 V.G. or better pay 2250.00 Any Series of 1875 $100 V.G. or better pay 2250.00 Any Brown Back $100 V.G. or better pay 650.00 Any 1882 Dated Back $50 V.G. or better pay 750.00 Any 1929 Type II $50 V.G. or better pay 550.00 CHARTER NUMBERS WANTED We will pay $300 for any of the following Charter Numbers, any type in VG or better. #2192 #3473 #3791 #2640 #3512 #3805 #2954 #3563 #3807 #2990 #3564 #3812 #3002 #3567 #3833 #3035 #3569 #3835 #3090 #3594 #3844 #3108 #3667 #3852 #3194 #3695 #3853 #3199 #3703 #3880 #3249 #3710 #3900 #3265 #3737 #3928 #3384 #3751 #3963 #3386 #3758 #3992 #3394 #3769 #4150 #3431 #3775 #4288 #3440 #3776 #9097 #3443 #3787 #11887 There are many other Kansas Nationals that we are interested in other than those listed above. If you have any Kansas Na- tionals for sale, please write giving the charter number, type and Friedberg numbers. Please price all notes in your first cor- respondence as we will not make offers. If you are selling rare Kansas Nationals elsewhere you are not getting top dollar. We Also Want Uncut Sheets of Kansas Nationals JOE FLYNN &SON R tRE COINS INC. = P.0. BOO 3140 k4 SAS CITI. ICS.64310:1 2854 W. 47TH STREET PHONE 911236.7171 Whole No. 68 Page 121 SELECT C.S.A. NOTES 1861 T-36 $5 $17.00 T-8 850 Unc . . $20.00 T-37 85 810.00 T-9 $21) Unc . . . $22.50 T-I1 55 G/VG. $200.00 T-13 8100 XF . . $18.00 T-16 $50 VG . 815.00 T-22 $I 0 VF, COC $80.00 T-23 510 VG . . 075-.00 T-25 $10 VF . . $35.00 T-26 $10 VF .. $35.00 T-31 05 VF, COC S90.00 1863 T-32 85 VG, COC $80.00 T-57 050 Unc, CC . $23.00 T-34 85 G 812.00 T-64 $500 Unc .. . $45.0)) RARE C.S.A. BONDS Cr-7A 5500 Feb. 28, 1861 Extra Fine $160 Cr-8 S1000 Feb. 28, 1861 Very Fine 540 Cr-99 $1000 Aug. 19, 1861 Extra Fine 875 Cr-130B $1000 Mar. 23, 1861 Extra Fine S55 Cr-165 $1000 Jun. 13, 1864 Like New. V RARE 5225 All of the above bonds have many of the original coupons still attached. Any one would make a really nice display item or addition to a collection! ,i******4.********* All items postpaid. Your satisfaction guaranteed! Second choices appreciated. Please contact us if you have C.S.A. material to sell as we want to buy. ANN & HUGH SHULL 246 McDonnell Sq. Biloxi, Miss. 39531 (601) 432-1902 SPMC PMCM SCNA 1862 T-42 $2 G, 1/10. . $60.00 T-43 $2 F $20.00 T-45 $1 VG/F . . $15.00 T-46 $10 F $13.00 T-54 $2 $20.00 T-55 SI F $13.00 $3 OBSOLETE CURRENCY CT CR#5750, W 8604 Stonington Bank, Stonington Unc US 812.00 CT W#606 Stonington Bank, Stonington Unc US 513.00 CT Manufacturers Exch. Co. Bristol. 1814. VF S 510.00 CT Connecticut Bank, Bridgeport, VG+ sm tear S 814.00 DC Bank of Ameir., Georgetown, 1852, Unc S 827.00 GA Cr#A726 Bank of Augusta. AU US S 7.75 MA W#306, Cr#F418 Franklin Bank, Boston, 1833, VG S 810.00 MA Cr#M60 Mahaiwe Bank, Great Barrington VG S $1.3.00 MA W#83 Worcester County Bank, Blackstone F 013.1)0 MA Cr#L920 Lynn Mechanics Bank, Lynn, F S 512.00 MA Marblehead Bank, Marblehead, F S 816.00 MA Merchants Bank, Lowell, 1856 F S 813.00 MA Cr#C606 Cochituate Bank, Boston F+ S S 9.75 MA Cr#C606 no overprint Cochituate Bank, Boston F S SI 0.00 MI Cr#A84 Adrian Insurance Co, Adrian, XF S 811.00 MI Cr#M453 Bank of Michigan, Marshall, Unc US $10.00 MI Cr#M123 Bank of Manchester, Manchester, F 5 511.00 MI Cr#T235 Tecumseh Bank, Tecumseh, Unc, US 810.00 NH W#428, Cr#P289 Piscatanua Ezell Bank, Portsmouth F 410.00 NE Cr#13160 Bank of Deboto, DeSoto, Unc S $17.00 OH Cr#J126 Jefferson Bank of New Salem, VF+ S 822.00 RI Cr#N294 New Eng. Comm. Bank, Newport, Unc US $ 6.50 TN Cr#C270 Bank of Chattanooga, 1863, F 812.00 TN Bank of E. Tenn, Jonesboro 1854 F+ S $15.00 VT W#262, Cr#W55 West River Bank, Jamaica, Unc US 810.1)0 S=signed, US=unsigned. Also send for my free obsolete paper money and scrip catalog. CHARLES E. STRAUB P.O. Box 200 Columbia, Conn. 06237 Page 122 Paper Money or LOOK FORS THESE FACES BOB MEDLAR BETTY MEDLAR WHEN BUYING OR SELLING! Whether it's rare U.S Currency, Obsoletes, Bank Notes, Texas Documents, etc., we'll be happy to provide quotes or arrange to include your material in any of our auctions Beside the Alamo NedietT'd RARE COINS AND CURRENCY 220 Alamo Plaza San Antonio, Texas 78205 Call us at 512) 226-2311 FOR SALE CURRENCY FOR SALE U.S.A. LARGE & SMALL SIZE CURRENCY INCLUDING: NATIONAL CURRENCY OBSOLETE CURRENCY RADAR & FANCY SERIAL NUMBER NOTES "ERROR" NOTES & OTHER TYPES LARGE MAIL LISTING AVAILABLE FOR A LARGE-SIZE, SELF-ADDRESSED STAMPED ENVELOPE 10-DAY RETURN PRIVILEGE YOUR SATISFACTION GUARANTEED ROBERT A. CONDO P.O. BOX 305 DRAYTON PLAINS, MI 48020 NATIONAL CURRENCY 1902 $20 #4137 Marinette, Wi VG/F 55.00 1902 85 #474 Greenfield, Mass VG 37.50 1902 $10 #W3450 Trinidad, Colo VF 250.00 1902 $10 #461 Cobleskill, NY VF 130.00 1929 $10 #7372 Bellingham, Wash. XF 65.00 1929 R10 #4446 Port Huron. Mich F/VF 50.00 1929 $20 #3355 Yakima, Wash. Fine 50.00 1929 $20 #1553 Portland, Or XF 35.00 1929 $20 #3417 T2 Tacoma, Wash XF/AU 75.00 1929 $20 #9207 Littlestown, Pa XF/AU 65.00 1929 $20 #912 Manheim, Pa VF/XF 65.00 1929 810 #3001 Stevens Pt., Wi F/VF 65.00 1929 $10 #2597 Ogden, Ut VF/XF 80.00 1929 $10 #6558 Murray, Ut XF 250.00 1929 $20 #4287 Tucson, Az VF 175 00 1929 $10 #3072 Clay Center, Ks VG 75.00 1929 $20 #6012 Price, Utah T2 CU (#3 note) 450.00 Satisfaction guaranteed. Seven day return privilege. Bank cards welcome, please send the information as it appears on your hank card. Member ANA-SPMC. AURORA COIN SHOP 507 3rd Ave #5-PM Seattle, Wash. 98104 206/283-2626 NEW YORK OBSOLETE $1 Bathston Spa Bank, Bathston Spa, hg, 18. VG, 7.00 54 Bank of Binghamton, Binghamton, pc, hg, 1862, CU, 10.00 10¢ Same, mtd, 1862, VF, 8.50 S5 Broome County Bank, 1831, VF,. . . 15.50 5¢ Susquehanna Valley Bank, 1862, VG 5.50 104 Same, tear, 1862, VG, 7.00 $5 Hollister Bank of Buffalo, Buatfalo, 1839. F, . . 18.00 '82 Bank of the Empire State, Burton, 1851, CU,. . 16.50 $1 Central Bank, Cherry Valley, 1820, VF, 27.00 $2 Putnam County Bank, Farmers Mills, pc missing, 1849, F, 5.50 $5 Bank of Fort Edward, Fort Edward, 1863, F,. . 11.50 S1 Baker Brothers & Co, Jamestown, hg, 187_, CU, 25.00 $2 Same, hg, 187, CU, 25.00 $5 Same, hg, 187 , CU, 25.00 $1 Ontario County Bank, Phelps, pc, 185_, PF, . 125.00 $2 Same, pc, 185 , PF 125.00 85 Same, pc, rep, 185 PF, 35.00 $10 Same, sl tear, 185_ PF 85.00 Free price list available: Obsolete Currency & U S Currency. Send large size SASE for each list. Add $1 postage & insurance all orders. Thank You. TOM WASS 9601 Wilshire Blvd Suite 309 Beverly Hills, CA 90210 Whole No. 68 Page 123 NEBRASKA OBSOLETE NOTES 1.00 Bank of DeSoto, 1863. Unc. $14.00 3.00 Bank of DeSota, 1862. X F. 15.00 3.00 Bank of DeSoto, 1863, Unc. 17.00 1.00 Nemaha Valley Bank, 1857. V.G 10.00 2.00 Nemaha Valley Bank, 1857. Fine 14.00 5.00 Nemaha Valley Bank, 1857. Fine 14.00 10.00 Nemaha Valley Bank, 1857. Fine 18.00 1.00 City of Otnaha, 1857. Fine 12.00 3.00 City of Omaha, 1857. V F. 17.00 1.00 Western Exchange & Fire Ins. 1857. Unc. . • . 7.50 2.00 Western Exchange & Fire Ins. 1857. Unc. . • . 8.00 3.00 Western Exchange & Fire Ins. 1857. V.F. . • 10.00 3.00 Waubeek Bank, 1857. X.F. 25.00 2.00 Omaha City Bank & Land Co., 1858. Unc.. • 23.00 2.00 Western Exchange & Fire Ins. 1855. Good . . . 7.00 3.00 Western Exchange & Fire Ins. 1856. V.F. 26.00 1.00 Bank of Florence, 18--. u/s. Unc. 8.00 2.00 Bank of Florence, 18--. u/s. Unc 8.00 3.00 Bank of Florence, 18--. u/s. Unc 10 50 5.00 Bank of Florence, 18--. u/s. Unc 10.50 Notes of most states in stock. Send want lists for colonial, Continental, obsolete and scrip. RICHARD T. HOOBER P.O. Box 196, Newfoundland, Penna. 18445 Early American Currency CONTINENTAL 5-10-75. 830. Crisp Uncirculated $145. 5-9-76. $7. Crisp Uncirculated $ 75. 7-22-76. $30. 'Tory Counterfeit' AU $ 95. 5-20-77. $6. 'Tory Counterfeit' CU 5110. 4-11-78. (Yorktown) $40. 'Tory Counterfeit. T2. VF $ 90. 9-26-78. $60. Crisp Uncirculated $ 85. CONTINENTAL LOAN OFFICE, 30 day sight draft dated 9-29-78 signed by Francis Hopkinson. V.F. $245. GEORGIA 1776. Sterling. 6 pence. border(g), VF $155. (fractional) 81/4. border(b), F-VF $135. Lt. Blue seal. $1. Justice. border(a), Fine $155. $4. Lib. Cap. border(c), VF $250. 1777. No resolution date. $3. border(h), VF $190. NORTH CAROLINA Dec. 1771. 1 pound. Ursa Minor, AU $150. Apr. 2, 1776. S1/8. Lion., EF S325. Aug. 8, 1778. 85. 'The Rising States'. AU $145. VIRGINIA Oct. 20, 1777. Partial sheet. $1/3, S2/3, $1. C.C.. . . .$850 The above notes represent a sampling of my latest price list. I will send my illustrated listing to interested parties for 254 in stamp or coin (mailing). Ten day return privilege. Second choices appreciated. Want lists solicited. 93 ANA. ANS. 869 Steven Dub insky SPMC Phone (914) 623-8198 P. 0. Box 642 Bardonia, N. Y. 10954 A•Z Coins 548 Home Ave. Ft. Wayne, Ind. 46807 FLOYD 0. JANNEY LW, No 415 P 0. Box 143 Waukesha, Wisc. 53186 Society Certified Professional Numismatists BEVERLY HILLS, CA 90210 170) BOX 1669 P. O. BOX 1358. WARREN HENDERSON VENICE, FLA. 33595 LISTS *28 Page list of checks and one Territorial Check-$1.00 *30 Page list of stocks and bonds and one Railroad Stock-$1.00 SMALL SIZE TEXAS NATIONAL CURRENCY WANTED Weatherford #2477 Garland #7140 Weatherford #2423 Lewisville #7144 McKinney #2729 Garland #7989 McKinney #2909 Rockwall #8264 Waxahachi #3212 Canton #8891 Granbury #3727 Kaufman #10757 Plano #3764 Grapevine #12708 Kaufman #3836 Denison #12727 Grandview #4389 Rockwall #13402 Denton #4708 Plano #13511 Wills Point #5018 Waxahachie #13516 Forney #6078 McKinney #14236 Mesquite #6140 State price and condition Ferris #6376 or send for my fair offer. BARRY MARTIN #112, 4646 Amesbury Drive Dallas, Texas 75206 Needed to maintain integrity of collection $ 1 .00 C.U. FRN'S Blk & Ser. # Ending B — 02C B — 00C B — 02D B — OOD F — 06A F — 00A Within Serial # Range B99840001 C - B99999999C B99840001C - B99999999C B76160001D - B79360000D B76160001D - B79360000D F99840001A - F99999999A F99840001A - F99999999A Please price or state trade considerations. JAMES E. LUND Route 3, South Lake Cowdry Alexandria, Minnesota 56308 Series I 969B 1969C 1974 BANKS, BANKNOTES, CURRENCY Want books, counterfeit detectors, banknote re- porters, vignette sheets, publications issued by bank note companies, etc. relating to early paper money and banking, especially the period 1790- 1865. Also want early individual bank notes and sheets . DAVID BOWERS OBSOLETE NORTH CAROLINA PAPER MONEY WANTED I need North Carolina colonial and continental notes and obsolete North Carolina bank notes. I have many North Carolina duplicates that I will trade for North Carolina items that I need. Please write for my detailed want list. CHARLES F. BLANCHARD P. 0. DRAWER 30, RALEIGH, N. C. 27602 Collector/Dealer Since 1935 SPMC #38 WANTED Large-Size Wisconsin National Bank Notes Universal Numismatics Corp. FLORIDA NOTES WANTED ALL SERIES Also A Good Stock Of Notes Available di -N- 01107.NAL ktZkii 40, • Gs , S !; 11, 1 fit^L' ,..icsr.C* rsstir-tr-r".4). lirtrnr*.lert 17:444,1010.40iidit 2616036E 3.22 ,1 Page 124 Paper Money SELL HARRY YOUR MISTAKES Harry wants to buy Currency Errors Also Interested in Buying Nationals ... Large and Small size Uncut Sheets Red Seals Type Notes Unusual Serial numbers HARRY E. JONES PO Box 42043 Cleveland, Ohio 44142 216-884-0701 MINNESOTA NATIONAL CURRENCY WANTED Adrian, Nat. B. of Adrian #9033 Canby, 1st Nat. B. #6366 Cold Spring, 1st Nat. B. #8051 Cottonwood, 1st Nat. B. #6584 Deer River, 1st Nat. B. #9131 Grand Meadow, 1st Nat. B. #6933 Hendricks, 1st Nat. B. #6468 Hendricks, Farmers Nat. B. #9457 Kerkhoven, 1st Nat. B. #11365 Le Sueur, 1st Nat. B. #7199 Lanesboro, 1st Nat. B #10507 Madison, 1st Nat. B. #6795 Mankato, Nat. B. Commerce #6519 McIntosh, 1st Nat. B. #6488 Minnesota Lake, Farmers Nat. B. #6532 Osakis, 1st Nat. B. #6837 Park Rapids, Citizens Nat. B. #13692 Pipestone, Pipestone Nat. B. 10936 Sauk Center, 1st Nat. B. #3155 Wendall, 1st Nat. B. #10898 State price arid condition or send for my fair offer. have many notes in stock as well! What do you need? JOHN R. PALM 6389 ST. JOHN'S DRIVE EDEN PRAIRIE, MINN. 55343 Whole No. 68 Page 125 Bank Notes are Our Business If you are selling: We are seriously interested in acquiring large size and scarcer small size United States paper money. We are interested in single items as well as extensive collections. We are especially in need of national bank notes and we also buy foreign paper money. If you have a collection which includes both paper money and coins, it may prove in your best financial interest to obtain a separate bid from us on your paper money as we deal exclusively and full time in paper money. We will fly to purchase if your holdings warrant. If you are buying: We issue periodic extensive lists of U.S. paper money, both large size, small size and fractional. Our next list is yours for the asking. Phone (602) 445-2930 The Vault P. 0. BOX 2283 PRESCOTT, ARIZ. 86301 WANTED OBSOLETE PAPER MONEY (Bank Notes. Script. Warrants. Drafts) of the AMERICAN WEST Oregon. California, Idaho. Nevada. Arizona. Utah. Mon- tana, New Mexico. Colorado: Dakota. Deseret. Indian, Jefferson Territories! Cash paid, or fine Obsolete Paper traded. Have Proof notes from most states, individual rarities, seldom seen denominationals, Kirtlands, topicals; Colonial, Continental; CSA, Southern States notes and bonds. Also have duplicate Wes tern rarities for advantageous trade. JOHN J. FORD, JR. P. O. BOX 33, ROCKVILLE CENTRE, N. Y. 11571 Page 126 Paper Money WANTED WANTED WANTED NATIONAL BANK NOTES FROM OHIO, ESPECIALLY FIRST AND SECOND CHARTER NOTES FROM CINCINNATI AND SURROUNDING CITIES. For Sale For Sale For Sale I have many good types notes to trade for Ohio issues that I need. Ohio notes aren't particularly scarce and should be tradeable with type collectors for notes from surrounding states. Satisfaction guaranteed. A FEW FRACTIONAL TYPE NOTES Friedberg Number: Description Price 1251 10¢, Third Issue. Well centered, red reverse. Strictly a GEM copy of this note 70.00 1251 As above, Well centered strictly UNC. Vivid impression but slight signs of ageing paper $ 45.00 1253 10¢, Third Issue. Autograph pen signatures of Colby-Spinner with "Registrar" and "Treasurer" also penned onto note by a federal worker. There is a faint paper pull on the face which is hard to notice but the note has never been circulated . . .$ 57.50 1254 As above but scarcer Jeffries-Spinner pen autographs. Traces of glue on reverse corners and nick in bottom margin. UNC 5 60.00 1254-SP Red reverse of 10¢ note. Wide margins and bright overprint 5 60.00 1255 10¢, Third Issue. Green reverse. UNC but there is one small corner fold and a small black spot (perhaps ink) at the bottom 22.50 1258 10¢, Fourth Issue. Pink silk fibres in paper. UNC 5 35.00 1259 As above but with blue end paper. UNC 35.00 1265 10¢, Fifth Issue. Faint trace of a crease keeps it from grading CU $ 22.00 1266 As above. Deep blue tint in fibered paper, very bright note. Strictly CU 5 30.00 1266 As above, 2 pin holes and traces of handling, XF 5 17.50 1267 15¢, Fourth Issue. Watermarked Paper, AU . . . 5 42.50 1269 As above, no watermarks. About VF 5 20.00 1271 As above, smaller seal, bright UNC $ 60.00 1302 25¢, Fourth Issue. Would grade XF except for many small pin holes and ageing paper. Still collectable as a type note 5 10.00 1307 25¢, Fourth issue, Smaller seal, VF $ 12.00 1308 25¢, Fifth Issue. Reverse is bright apple green rather than the usual blue green. Well centered, UNC but not choice $ 25.00 1310 50¢, First Issue. Bright copy, all perforations intact, average centering. These early perforated issues in good shape are much scarcer than the later issues and scarcer than catalog values tend to indicate $115.00 1328 50¢, Third Issue. The "Spinner" note. Autograph pen signatures of Colby-Spinner. The ink from Spinner's pen has eaten one small hole through the note. UNC 5 65.00 1350 504, Third Issue, The "Justice" note. Close at left but a bright CU. Actually the note is GEM quality except for the close left edge. $ 75.00 1356 As above. Autograph pen signatures of Colby- Spinner. Face very bright, overall XF $ 75.00 1379 50¢, Fourth Issue. The "Dexter" note. Has a light diagonal crease (not hard set and no paper broken) but never circulated. Well centered . .. .5 40.00 1381 500, Fifth Issue. The "Crawford" note. AU . . . .5 30.00 1381 As above, in a lower grade of VF S 18.00 AND A SPECIAL FRACTIONAL ITEM: 1379 An original pack of 20 of the 50¢ Dexter notes with the Treasury band labeled "TEN DOLLARS" still surrounding them. A few original packs of Fifth Issue notes have appeared on the market in recent years, but Fourth Series packs are extremely scarce. There were a few original packs in the Rothert Sale in 1973, but none of this particular note. Most of the notes in the pack are GEM copies. $1100.00 I offer the standard terms of sale and I pay the postage. Certified or Cashier's Checks receive immediate shipment. Notes may be returned in seven days for refund. But there is more: As a collector I am very sensitive to grading and I would like to find some way to prop up the sagging standards of grading paper money that seem to be moving in upon us. For notes I sell, I extend the "guarantee" another notch. Should anyone return a note to me for vague or general reasons ... his privilege ... he pays the return postage and insurance. But if he honestly feels the note is overgraded ... or defects not adequately described ... he tells me so with his return and I reimburse him for the return postage and registration fee. That's fair to him ... and keeps me honest. SPMC # 3240 WILLIAM P. KOSTER ANA #70083 8005 SOUTH CLIPPINGER DRIVE, CINCINNATI, OH 45243 Home: 513/561-5866 Office: 513/271-5100 I WANT TO BUY ALL TYPES OF SOUTH CAROLINA PAPER MONEY FOR MY PERSONAL COLLECTION. I Need — PROOF NOTES OBSOLETE BANK NOTES S.C. NATIONAL BANK NOTES CITY, TOWN & PRIVATE SCRIP I HAVE SIMILAR MATERIAL FROM OTHER STATES THAT I WILL TRADE FOR NOTES THAT I NEED. PLEASE WRITE FOR MY DETAILED WANT LIST. I Also Collect — PROOF NOTES WORLDWIDE SPECIMEN NOTES BRITISH COMMONWEALTH VIGNETTES USED ON BANK NOTES COUNTERFEIT DETECTORS BANK NOTE REGISTERS J. ROY PENNELL, JR. SPMC #8 P. 0. BOX 858 ANA #11304 ANDERSON, SOUTH CAROLINA 29621 DONLON PAYS TOP DOLLAR FOR CHOICE U.S. PAPER CURRENCY SINGLE NOTES OR COMPLETE COLLECTIONS FAST CHECK $100 OR $100,000 PAYING OVER CATALOG FOR MANY NATIONAL BANKNOTES SINGLE NOTES OR UNCUT SHEETS, ALL SERIES ALSO PAYING TOP PRICES FOR UNITED STATES LEGALS, 1861-1923 SILVER CERTIFICATES 1878-1923 CALIFORNIA GOLD BANKNOTES TREASURY NOTES 1890-1891 1929 NATIONAL BANK NOTES Send your duplicates or complete collection by registered mail. Indicate whether you prefer Mail Bid Sale or outright sale. You will be quoted sale Terms, or if selling outright. Check sent subject to your acceptance. PERHAPS YOU WOULD PREFER TO PLACE YOUR NOTES IN ONE OF DONLON'S MAIL BID SALES. LIBERAL TERMS AND CASH ADVANCES IF YOU REQUEST. Back Issues Donlon's Mail Bid Sale Catalogs $3.00 with Prices Realized. Sale No. 1 and No. 9 sold out. WILLIAM P. DONLON Specializing in United States Large Size Paper Money P. 0. BOX 144 UTICA, NEW YORK 13503 ANA 4295 LIFE MEMBER 101 1977 ed. Donlon Catalog U.S. Large Size Paper Money $3.95 ppd.