Paper Money - Vol. XXXIX, No. 6 - Whole No. 210 - November - December 2000

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p ,TPR)4A/ NOVEMBER/DECEMBER 2000VOL. XXXIX, No. 6 WHOLE No. 210 6:4Etnt9. . G F. 0 lit'OE T. GILBEitiT WILL Eli TNN BEARER . ,sLX AND ONEQUAIITEI1 CENTS ; at i4etiv/ `A,,4 on Demand! ..tote, .961f/ot:theiv. 7,0 otiaktr :j c4eytidkalt 044/ 2.„ - Society Of Paper Money Collectors - Pennsylvania Room East, Sheraton Hotel 1966, '69 & '70 SPMC BANQUET TICKETS ARE CATALOGED. BUT MANY OTHERS ARE MISSING. SEND ANY 1960s, 1970s, OR 1980s TICKETS TO THE EDITOR FOR OUR GIGANTIC 40TH ANNIVERSARY ISSUE. Dutch Treat Cocktails 6:30 P.M., Delaware Val. Suite DINNER 7:30 P.M. $7.50 Per Person COMING NEXT ISSUE: SPMC CELEBRATES 1961-2001 46 AUTHORS! 288 PHOTOS! cial Journal the Society of Paper Money Collectors WWW.SPMC.ORG 26 Broadway, Suite 271, New York, NY 10004 • www.rm-smythe.com 30 1; /13, TRE STATE OF FLORWA, '0 DOLLARS. 1710 foxpookftwolit , • 7i,t1130 10 0 t, BANi , sIttggrli: sii rif't#14:/ 4Zleelri) .tnn.nn64. --4-4-1E,M 275s../setkovss, VVV j What's The Best Way To Sell Your Paper Money Collection? The best way to sell your collection is to consign it to someone you trust. Your currency collection probably took years to acquire. Each purchase was thoughtfully considered, each note carefully stored, and handled with respect. The sale of your collec- tion should be accomplished in the same manner. Carefully, and thoughtfully. At Smythe, we care about our consignors, our bidders, and our staff members. We don't misgrade your lots, or sell them long after midnight, or during convention hours. We strongly support the show organizers and local clubs that work hard to make paper money shows successful, and we are proud that we have consistently been selected as one of the Official Auctioneers of the Memphis International Paper Money Show. We illustrate every major note, using boxes or color where appropriate. Each note is carefully graded and researched by our nationally-recognized, full-time paper money experts. Our rates are flexible and highly competitive. There are no lot charges, photo charges or minimum charges on Federal Currency. If you are thinking of selling, take advantage of the strongest currency market we have seen in years, and take this opportunity to showcase your better single items, or your entire collection, in the next R. M. Smythe auction. 2000 Auction Schedule • June 15-18, 2000 International Paper Money Show Auction, Memphis, TN. • September 13-17, 2000 5th Annual Strasburg Paper Money Collectors Show & Auction, Strasburg, PA. • October 25-29, 2000 St. Louis Paper Money Show Auction, St. Louis, MO. • November 2000 Coins and Autographs, New York, NY. • January 18-19, 2001 14th Annual Strasburg Stock & Bond Show & Auction, Strasburg, PA. To Consign, please call Stephen Goldsmith at 800-622-1880. To Subscribe: Only subscribers can be fully assured of receiving our fully-illustrated thoroughly-researched catalogues. Do you need to check on the status of your subscription? Call Marie Alberti at 800-622-1880 or 212-943-1880. A one year subscription to all RMS catalogues is $87.50 ($125 overseas). Other subscription plans are available. Call today for further information. See Us At Close To 40 Shows This Year! We will be planning to attend almost every major numismatic show, represented by Stephen Goldsmith, Douglas Ball, Kevin Foley, or Martin Gengerke. If necessary, we will travel to see your collection. Call 800-622-1880 for further information. j rik Stephen Goinsmith 4,:jorietop MEMBER PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 173 Paper Monty Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XXXIX, No. 6 Whole No. 210 NOVEMBER/DECEMBER 2000 ISSN 0031-1162 FRED L. REED III, Editor, P.O. Box 793941, Dallas, TX 75379 Visit the SPMC web site: www.spmc.org FEATURES Plate Lettering on Large Size National Bank Notes 175 By Peter Huntoon How They Did the Deal in 1861 196 By Wendell Wolka Greengoods Game 197 Conducted by Forrest Daniel IT'S DUES TIME ONCE AGAIN If you are not a LM, send back your annual dues envelope now if you haven't already done so. You won't want to miss out on 2001 SPMC's 40th Anniversary Year! SOCIETY NEWS Information & Officers 174 Call for Entries, 1st Annual George W. Wait Memorial Prize 190 One Last Chance to Purchase Ads for 40th Anniversary Issue 191 New Volume Catalogs Currency of India 194 Review by Frank Clark President's Column 197 By Frank Clark Money Mart 199 Research Exchange 205 Call for Nominations 205 An Index to Paper Money Vol. 39, Nos. 205-210 208 Statement of Ownership, Management & Circulation 209 New Members 210 Editor's Notebook 210 Advertisers Index 211 ON THE COVER Founding Father Glenn B. Smedley grins on a 1970 luncheon ticket. PAPER MONEY is published every other month beginning in January by the Society of Paper Money Collectors (SPMC). Second-class postage is paid at Dover, DE 19901. Postmaster send address changes to Secretary Fred L. Reed III, P.O. Box 793941, Dallas, TX 75379-3941. 0 Society of Paper Money Collectors, Inc., 2000. All rights reserved. Reproduction of any article, in whole or in part, without express written permis- sion, is prohibited. Individual copies of this issue of PAPER MONEY are available from the Secretary for $4 postpaid. Send changes of address, inquiries concerning non-delivery, and requests for additional copies of this issue to the Secretary. MANUSCRIPTS Manuscripts not under consideration elsewhere and publications for review should be sent to the Editor. Accepted manuscripts will be published as soon as possible; however, publication in a specif- ic issue cannot be guaranteed. Include an SASE for acknowledgment, if desired. Opinions expressed by authors do not necessarily reflect those of the SPMC. Manuscripts should be typed (one side of paper only), double-spaced with at least 1-inch margins. The author's name, address and telephone num- ber should appear on the first page. Authors should retain a copy for their records. Authors are encouraged to submit a copy on a 3 1/2-inch MAC disk, identified with the name and version of software used. A double-spaced printout must accompany the disk. Authors may also transmit articles via e-mail to the Editor at the SPMC web site (tredespmc.org). Original illustrations are preferred. Scans should be grayscale at 300 dpi. Jpegs are preferred. Inquire about other formats. ADVERTISING • All advertising copy and correspondence should be sent to the Editor • All advertising is payable in advance To keep rates at a minimum, all advertising must be prepaid according to the schedule below. In exceptional cases where special artwork or addi- tional production is required, the advertiser will be notified and billed accordingly. Rates are not commissionable; proofs are not supplied. Advertising Deadline: Copy must be received by the Editor no later than the first day of the month preceding the cover date of the issue (for example, Feb. 1 for the March/April issue). With advance approval, camera-ready copy, or electronic ads in Quark Express on a MAC zip disk with fonts sup- plied, may be accepted up to 10 days later. ADVERTISING RATES NOTICE ADVERTISING RATES HAVE CHANGED SPMC Governors have approved A much-needed and long-overdue Increase in advertising rates for 2001 NOTE: This is the FIRST increase In ad rates in 14 years! Please inqure with the Editor Requirements: Full page, 42 x 57 picas; half-page may he either vertical or horizontal in format. Single-column width, 20 picas. Except covers, page position may be requested, but not guaran- teed. All screens should be 150 line or 300 dpi. Advertising copy shall be restricted to paper cur- rency, allied numismatic material, publications, and related accessories. The SPMC does not guar- antee advertisements, but accepts copy in good faith, reserving the right to reject objectionable material or edit copy. SPMC assumes no financial responsibility for typographical errors in ads, but agrees to reprint that portion of an ad in which a typographical error occurs upon prompt notification. IN THIS ISSUE 174 NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY Society of Paper Money Collectors The Society of Paper Money Collectors (SPMC) was orga- nized in 1961 and incorporated in 1964 as a non-profit organization under the laws of the District of Columbia. It is affiliated with the American Numismatic Association. The annual SPMC meeting is held in June at the Memphis IPMS (International Paper Money Show). Up-to-date infor- mation about the SPMC and its activities can be found on its Internet web site www.spmc.org . MEMBERSHIP—REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral character. Members of the ANA or other recognized numismatic soci- eties are eligible for membership; other applicants should be sponsored by an SPMC member or provide suitable ref- erences. MEMBERSHIP—JUNIOR. Applicants for Junior membership must be from 12 to 18 years of age and of good moral character. Their application must be signed by a parent or guardian. Junior membership numbers will be preceded by the letter "j," which will be removed upon notification to the Secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or vote. DUES—Annual dues are $24. Members in Canada and Mexico should add $5 to cover postage; members through- out the rest of the world add $10. Life membership— payable in installments within one year is $500, $600 for Canada and Mexico, and $700 elsewhere. Members who join the Society prior to October 1 receive the magazines already issued in the year in which they join. Members who join after October 1 will have their dues paid through December of the following year; they also receive, as a bonus, a copy of the magazine issued in November of the year in which they joined. Dues renewals appear in the Sept/Oct Paper Money. Checks should be sent to the Society Secretary. 4, OFFICERS ELECTED OFFICERS: PRESIDENT Frank Clark, P.O. Box 117060, Carrollton, TX 75011-7060 VICE-PRESIDENT Wendell A. Wolka, P.O. Box 569, Dublin, OH 43017 SECRETARY Fred L. Reed III, P.O. Box 793941, Dallas, TX 75379-3941 TREASURER Mark Anderson, 335 Court St., Suite 149, Brooklyn, NY 11231 BOARD OF GOVERNORS: Benny J. Bolin, 5510 Bolin Rd., Allen, TX 75002 C. John Ferreri, P.O. Box 33, Storrs, CT 06268 Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231 Ronald L. Horstman, 5010 Timber Ln., Gerald, MO 63037 Arri "AJ" Jacob, P.O. Box 361, Los Alamitos, CA 90720-0361 Judith Murphy, P.O. Box 24056, Winston-Salem, NC 27114 Robert Schreiner, P.O. Box 2331, Chapel Hill, NC 27515- 2331 Steven K. Whitfield, 14092 W 115th St., Olathe, KS 66062 APPOINTEES: EDITOR Fred L. Reed III, P.O. Box 793941, Dallas, TX 75379-3941 CONTRIBUTING EDITOR Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231 ADVERTISING MANAGER (Currently unfilled) LEGAL COUNSEL Robert J. Galiette, 3 Teal Ln., Essex, CT 06426 LIBRARIAN Richard J. Balbaton, P.O. Box 911, North Attleboro, MA 02761 MEMBERSHIP DIRECTOR Frank Clark, P.O. Box 117060, Carrollton, TX 75011-7060 PAST PRESIDENT Bob Cochran, P.O. Box 1085, Florissant, MO 63031 1929 NATIONALS PROJECT COORDINATOR David B. Hollander, 406 Viduta PI, Huntsville, AL 35801-1059 WISMER BOOK PROJECT COORDINATOR Steven K. Whitfield, 14092 W. 115th St., Olathe, KS 66062 BUYING AND SELLING CSA and Obsolete Notes CSA Bonds, Stocks & Financial Items 60-Page Catalog for $5.00 Refundable with Order ANA-LM SCNA PCDA CHARTER MBR HUGH SHULL P.O. Box 761, Camden, SC 29020 (803) 432-8500 FAX (803) 432-9958 SPMC LM 6 BRNA FUN ®- i4 6.11EiffECE I HD t t,"1.4;11));. -'t .. is srAnormiszja---_-_- tows Of `7.01-k: ....-45.,.,.. .5 si•=t 4.* Al.--Llii4-7 ' 41 4..‘.0- .,. onweihmoidi tavt*qtripmotott itittotimp 1 I 1=' 9 35 6 9 :11 „es. ...,,,:.p,...„„. ,,.,-!.„ ,,„,,, ,,,,'*2.. A' r« 11" .. ... '1- — titioxita-,..4. 1.- • - - t2.116)41x.ez ( PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 175 The Paper Column Plate Letters on Large Size NB BY PETER HUNTOON Objective T HE PURPOSE OF THIS ARTICLE IS TO EXPLAIN THEsystem used to letter the subjects on large size National Bank Noteface plates. It is important to differentiate between replacing,altering and reentering plates in order to determine when letters changed so the distinctions between these processes will be discussed. This article totally revises and renders obsolete Chapter 21 in Huntoon, United States Large Size National Bank Notes, SPMC (1995). Lettering Conventions Plate letters were always used on National Bank Note face plates to dif- ferentiate between the subjects of the same denomination on a given plate. The advancement of plate letters on replacement plates was a Bureau of Engraving and Printing innovation that commenced in 1878, during the Series of 1875. The following plate lettering conventions became standardized by the time the Series of 1882 was introduced. 1. Each denomination had an independent lettering sequence. 2. The lettering began at A for each denomination with the start of each new series for each bank. 3. Lettering for a given denomination advanced consecutively down the plate, and then from plate to plate in the order in which the plates were made. 4. Plate letters reverted to A if the bank title changed or the bank reas- sumed an earlier charter number. 5. Letters were not changed on territorial plates that were altered into state plates. 6. Plate letters were advanced on existing Series of 1882 and Series of 1902 plates when they were altered to the "or other securities" variety with the introduction of the Date Back types in 1908. The important fact here is that each denomination used by a bank had its Above: The Series of 1882 10-10-10- 20 A-B-C-A plate for Douglas, Wyoming (3556), was originally a ter- ritorial plate dated Sept. 13, 1886, with Rosecrans-Jordan signatures. It was altered to a state plate in 1891, with the July 10, 1890, date of state- hood, and updated Rosecrans-Huston signatures. Notice that the plate let- ter on this $20 is A in keeping with the policy not to change plate letters on altered plates. The President's sig- nature is DeForest Richards, who became Governor of Wyoming between 1899 and 1903. Thanks to Tom Denly for providing me with this note. 176 NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY Table 1. Succession of plate letters on the Series of 1902 5-5-5-5 and 10-10-10-20 issue for The First National Bank of the City of New York, New York (29). Data from Bureau of Engraving and Printing (undated-a,c). 5-5-5-5: A-B-C-D E-F-G-H I-J-K-L M-N-O-P Q-R-S-T U-V-W-X 10-10-10-20: A-B-C-A D-E-F-B G-H-I-C J-K-L-D M-N-O-E P-Q-R-F S-T-U-G V-W-X-H AA-B B-Cc-I D D-E E-F F -J GG - HH - IrK J j -KK-L L-L Mm-N N -00-M PP-QQ-RR-N Ss-Tr U u -0 Vv-Ww-Xx-P A3-B3-C3-Q D 3 -E3 -F3 -R G 3 -H 3 -I 3 -S J 3 -K3 -L3 -T P3-Q 3 -R3 -V S 3 -T3-U 3-W A4-B4-C4-D4 E4-F4-G4-H4 1 4 -14-K4 -1-4 M4 - N4-04 -P4 Q4-R4-S4-T4 U4-V4-W4-X4 A4-B4-C4-AA 134-E4-F4-138 G4-114-14-Cc J4 - K4-L4-DD M4 - N4 -134 - EE P4 -Q4 - R4 - FF S4-T4-U4-GG V4-W4-X4-HH A5-B5-05-D5 E5-F5-G5-H5 15-J5-K5-L5 M5-N5-05-P5 Q5-R5-S5-T5 U5-V5-W5 -X5 A5-B5-05-11 D5-E5-F5-J1 G5-Hs -1 5 -KK J 5 -K545 -LL M5 -N 5-05 -M P5-Q5-R5-NN A6B6-C6-D6 E 6-F 6-G 6-H 6 16-J6-K6-L6 M6-N 6-06-P6 Q6-R6-56-T6 U 6-V6-W6-X6 AA-BB-CC-DD A3-B3-C3-D3 EE -FF -GG - HH E3-F3-G3-H3 I3-J3-K3-l3 Mm-NN-00-PP M3-N3-03-P3 QQ-RR-Ss-TT Q3-R3-S3-T3 Uu-Vv-Ww-Xx U3-V3-W3-X3 ArErCrD7 own lettering sequence. In cases where a given denomination appeared on dif- ferent plate combinations, the letters for that denomination walked consecu- tively through all the plates. Lettering Sequence Plate lettering is particularly interesting for banks with huge circulations because many plates were required. Table 1 shows the lettering sequence for the 5-5-5-5 and 10-10-10-20 Series of 1902 plates for The First National Bank of the City of New York, NY (29). Notice the progression of lettering styles on Table 1 as the alphabet was cycled: A, AA, A3, A4, etc. For convenience, the numbers are herein referred to as subscripts but there is great variability in the placement of these numbers next to the plate letters. The subscript 2 was not used, rather the second pass through the alphabet utilized the double letter style. In what is a measure of great financial prowess, The First National Bank of the City of New York (29), reached $5 Series of 1902 plate A7-B7-C7-D7, the highest format found on any plate. This plate was approved for use on December 10, 1928. The last 5-5-5-5 delivery for the bank from the Bureau of Engraving and Printing to the Comptroller occurred on July 6, 1929, and ended with sheet serial B179083. The last issued to the bank was B123785, yielding an astonishing total of 2,151,105 sheets of Series of 1902 fives. The highest format used on a 10-10-10-20 plate was PS-QS-RS-NN for the same bank on a Series of 1902 plate completed on August 6, 1928. The last of that combination was delivered to the Comptroller on July 1, 1929, and bore serial A321021. The last issued to the bank was A300533, yielding a total of 1,731,253 Series of 1902 10-10-10-20 sheets. The double letter variety was used on Series of 1882 plates for a number of banks, however the numerical subscripts were never reached in that series. We could have seen a Series of 1882 plate lettered A3-B3-C3-D3 had The National Bank of Commerce in New York (733) required just one more Series of 1882 5-5-5-5 plate! Notice from Table 1 how the lettering sequence usually did not include the full alphabet. The sixth format in the succession of 5-5-5-5 plates was U- V-W-X. The letters Y and Z were skipped so that the seventh format was AA- BB-CC-DD. Thus, the style of letting was homogeneous on the plate instead of the heterogeneous Y-Z-AA-BB. As shown on Table 1, the letters Y and Z also were avoided in succes- Table 2. Plate Letters on the Series of 1882 issues for the The Nevada National Bank and Wells Fargo Nevada National Bank of San Francisco, California (5105). Data from Bureau of Engraving and Printing (undated-c). 5-5-5-5 10-10-10-20 10-10-10-10 50-100 The Nevada National Bank Series of 1882 Brown Back plates: A-B-C-D A-B-C-A A-A E-F-G-H D-E-F-B I-J-K-L G-H-I-C M-N-O-P Q-R-S-T The Wells Fargo Nevada National Bank (title changed April 19, 1905) Series of 1882 Brown Back plates: A-B-C-D A-B-C-A G-H-I-J E-F-G-H D-E-F-B K-L-M-N Series of 1882 Date Back plates: I-J-K-L O-P-Q-C U-V-W-X M-N-O-P R-S-T-D AA-BB-CC-DD Q-R-S-T U-V-W-X AA-B B-CC-DD Series of 1882 Value Backs plates: Er -F F-G G -H H EE-FF-GG-Hu l i -J i -K K -L L Mm-NN-00-Pp Well Fargo Nevada plates that were altered from Brown to Date Backs: Combination Brown Back Date Back 5-5-5-5 E-F-G-H I-J-K-L 10-10-10-10 K-L-M-N U-V-W-X 10-10-10-20 A-B-C-A O-P-Q-C 10-10-10-20 D-E-F-B R-S-T-D PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 177 sions of 10-10-10-20 plates. The eighth format in that succession was V-W- X-H. The letters Y and Z were skipped on the $10s on the ninth format, so the plate was lettered AA-BB-CC-I. Here, the styles of letters used on like denominations remained homogeneous, but notice that the $20 was consecu- tive from the preceding format. The 24th format was V3-W3-X3-X. The Y was not used on the $20 on the next plate. Rather, the Y and Z were once again skipped and the 25th format was A4-B4-C4-AA! Plate lettering was far more interesting when a large bank utilized a mix of 10-10-10-20 and 10-10-10-10 plates. A good example involves the listing on Table 2 for the Series of 1882 plates for San Francisco (5105), a bank that had a title change. Notice for this bank that plate lettering reverted to A after the title change. More interesting, follow the progression of plate letters for the $10s through the succession of 10-10-10-20 and 10-10-10-10 plates. Use of Y and Z The letters Y and Z were reached only on $10s and only when a bank used certain successions of intermixed 10-10-10-20 and 10-10-10-10 plates. Only a handful of examples have been found in the Series of 1882 and 1902. The earliest and most spectacular case involves the enormous Series of 1902 issuances for The National Bank of Commerce in New York (733). Table 3 illustrates how Y and Z were reached on the Red Seal $10s, and also how YY was reached on the Date Back 10s. There are two known examples where Y and Z were used in the $10 Series of 1882 Date Back issues. These occurred on plates for The National Bank of Commerce in St. Louis (4178) and The National Shawmut Bank of Boston (5155). Notice on Tables 4 and 5 for the St. Louis and Boston cases that the letters Y and Z happened to land on altered plates. Those plates originally were made and used as Brown Back faces, but converted into Date Back faces following passage of the Emergency Currency Act on May 30, 1908. The Y and Z appeared when the plates were relettered. The St. Louis was a 10-10-10-20 (X-Y-Z-F) and the Boston a 10-10-10-10 (W-X-Y-Z). Y and Z were used on $10s at least three times in the Series of 1902 Blue Seal issues. The known cases involve The Second National Bank of Wilkes Barre, Pennsylvania (104), The First National Bank of Hartford, Connecticut (121), and The First National Bank of Richmond, Virginia (1111). See Table 6. Although theoretically possible, the let- ters Y and Z were never used in a 50-100/50- 50-50-100 mix. No bank required enough plates of those combinations to cycle to the end of the alphabet. Replacement, Altered and Reentered Plates The processes of replacing, altering and reentering plates must be examined in order to provide clarity to this discussion. Replacement plates were entirely new 178 NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY plates that were manufactured to replaced worn plates. The plate letters on the replacement plate were advanced from those on the previous plate begin- ning in 1878. Altered plates were existing plates on which design elements were changed. A common alteration was the conversion of an Original Series plate into a Series of 1875 plate. Here the alteration included changing the treasury signatures, adding or removing manufacturer imprints and extending design elements to the borders. Another common alteration in all series was the con- version of territorial plates into state plates. Yet another common alteration was the addition of engraved bank signatures to many Series of 1902 plates beginning in 1922. The most common alteration was the modification of the security clause when Series of 1882 Brown Back and Series of 1902 Red Seal faces were converted into Date Back faces as required by the Emergency Currency Act of 1908. Plate letters on altered plates were left unchanged with the one major exception being when they were advanced on Series of 1882 and 1902 as those plates were converted into Date Back faces. Reentered plates were existing worn plates upon which design elements were repressed from rolls to refurbish details. The plate letters on reentered plates were left unchanged, but occasionally moved slightly as they were reen- tered. Replacement Plates The problem of worn plates plagued National Bank Note printings from the beginning. Replacement plates made during the Original Series by bank note companies carried the same letters and signatures as those they replaced. Table 3. Plate letters on the Series of 1882 and 1902 issues for The National Bank of Commerce in New York, New York (733). Notice how the Y, Z and Yy plate letters were reached in the Series of 1902 10-10-10-10 and 10-10-10-20 combinations. Data from Bureau of Engraving and Printing (undated-a,c). Date Plate Date Plate Approved Canceled G-H-I-C J-K-L-D M-N-O-E P-Q-R-F S-T-U-G 5-5-5-5 A-B-C-D E-F-G-H l-J-K-L M-N-O-P Q-R-S-T U-V-W-X AA-B B-CC-DD EE-FF-GG -H H Mkt-N N-00 -Pp QQ-RR-Ss -T-E U u -Vv-Ww-Xx Jan 8, 1885 Jan 9, 1885 Jan 9, 1885 May 25, 1893 Aug 12, 1893 Aug 26, 1896 Jan 22, 1900 Jan 24, 1900 Apr 3, 1900 Mar 27, 1901 May 27, 1901 Jul 31, 1902 Jul 31, 1902 Aug 5, 1902 Aug 5, 1902 Jun 27, 1903 Jul 8, 1903 Sep 16, 1903 Jun 4, 1904 Jun 24, 1904 Nov 19, 1894 Nov 19, 1894 Apr 12, 1905a Jan 25, 1897 Mar 29, 1901 Nov 9, 1901 Feb 26, 1901a May 27, 1901 Mar 29, 1901 Aug 4, 1902 Aug 4, 1902 Jun 29, 1903 Apr 12, 1905a Sep 17, 1903 Apr 12, 1905a Jun 25, 1904 Apr 12, 1905a Apr 12, 1905a Apr 12, 1905a Apr 12, 1905a 10-10-10-10 10-10-10-20 50-100 Series of 1882 Brown Back plates: A-B-C-A A-A D-E-F-B a The date of cancellation was omitted from the ledger; date shown is when the plate was destroyed. The corporate life of the bank was extended on January 14, 1905, hence those Series of 1882 plates destroyed on April 12, 1905, were ren- dered obsolete. PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 179 Table 3 Continued 10-10-10-20 50-50-50-100 Series of 1902 Red Seal plates: A-B-C-A D-E-F-B G-H-I-C J-K-L-D M-N-O-E P-Q-R-F Series of 1902 Date Back plates: L E-MM-N N -H 00 -P p-QQ -I A-B-C-A D-E-F-B 5-5-5-5 A-B-C-D E-F-G-H I-J-K-L M-N-O-P Q-R-S-T U-V-W-X AA-B B -CC-D D E E -F F -G G -H H I i -J j -K K-LE Mm-N N-00 -P F. QQ-RR-SS-TT UU -vv -WW -XX A3 - B3 -C3 - D3 E3-F3-G3-H3 13-13-K343 M3-N3-03-P3 Q3-R3-S3-T3 U3-V3-W3-X3 A4-B4-C4-D4 E4-F4-G4-H4 14 -J4 -K4 - L4 M4-N4-04-134 Q4-R4-S4-T4 U4-1/441/4-X4 A5-B5-05-D5 E5-F5-G5-H5 10-10-10-10 S-T-U-V W-X-Y-Z AA-B B-CC-DD E E -F F -G G -H H RR-Ss-TT-U u Vv-Ww-Xx-Yy A3-B3 -C3 - D3 E3-F3-G3-H3 l3 -J3 -K3-L3 M3-N3-0 3 -P3 Q3-R3-S3-T3 U3 -‘1 3 -VV3A3 A4-B4 -C4 -D4 E4 - F4 -G4 - H4 14 -J4 -K4- 14 Q4 -R4 -S4 -T4 Date Plate Approved Dec 19, 1904 Dec 20, 1904 Jan 19, 1905 Jan 28, 1905 Mar 13, 1905 May 6, 1905 May 11, 1905 May 31, 1905 May 31, 1905 May 31, 1905 May 31, 1905 Aug 4, 1905 Sep 1, 1906 Mar 11, 1907 Apr 11, 1907 Aug 13, 1907 Sep 5, 1907 Sep 5, 1907 Jan 20, 1908 Jun 13, 1908 Jun 16, 1908 Jun 13, 1908 Jun 18, 1908 Jul 3, 1908 Jul 1, 1908 Jul 1, 1908 Jul 2, 1908 Jul 1, 1908 Oct 10, 1908 Feb 25, 1909 Sep 4, 1909 Jan 15, 1910 Feb 15, 1910 Feb 26, 1910 Feb 26, 1910 Oct 28, 1910 Nov 1, 1910 Feb 23, 1911 Mar 14, 1912 Mar 20, 1912 Oct 5, 1912 Oct 29, 1912 Jul 3, 1913 Sep 30, 1913 Oct 1, 1913 Jan 30, 1914 May 25, 1914 Aug 5, 1914 Aug 7, 1914 Aug 9, 1914 Aug 9, 1914 Aug 31, 1914 Oct 3, 1914 May 11, 1915 Date Plate Approved Nov 14, 1905 May 8, 1905 May 12, 1905 Aug 4, 1905 Nov 10, 1905 Sep 5, 1907 Aug 3, 1907 Sep 5, 1907 altered to MM-N N-00-Pp Apr 14, 1909 Apr 14, 1909 Apr 14, 1909 Mar 22, 1907 Jan 14, 1908 Apr 14, 1909 altered to QQ-R R-SS -TT altered to U u -Vv-Wes,-Xx altered to A 3 -B 3-C3-D3 Apr 14, 1909 Dec 3, 1909 Oct 10, 1908 Nov 3, 1910 Feb 26, 1909 Apr 9, 1929 Apr 9, 1929 Apr 9, 1929 Sep 9, 1909 Jan 15, 1910 Feb 17, 1910 Dec 20, 1911 Nov 3, 1910 Mar 16, 1911 Sep 26, 1911 Mar 7, 1912 Mar 22, 1912 Dec 27, 1911 Mar 29, 1911 Mar 15, 1912 Oct 31, 1912 Oct 8, 1912 Jul 7, 1913 Oct 3, 1913 Oct 1, 1913 May 28, 1914 Feb 2, 1914 Aug 19, 1914 Aug 19, 1914 Apr 9, 1929 Apr 9, 1929 Feb 24, 1915 Apr 9, 1929 May 12, 1915 Apr 9, 1929 Apr 9, 1929 180 NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY There is one known example of an Original Series plate that I interpret as being a replacement plate which carried an identifier indicating its status. This was a 5-5-5-5 for The Tenth National Bank of New York, New York (307), upon which a small number 2 was engraved under the lower right plate letter on all four subjects. This plate was prepared by the Continental Bank Note Company. This variety was discovered in 1985 by Doug Walcutt, who cautions without explicit proof that a replacement plate was made, the 2s could have been added to distinguish a reentered plate. The incrementing of plate letters on replacement plates was a Bureau of Engraving and Printing innovation that commenced in 1878, after the Bureau assumed responsibility for making plates. The treasury signatures were also updated on the early replacement plates. The first Bureau replacements appear to have been Series of 1875 5-5-5-5s bearing the updated Scofield- Gilfillan combination, indicating that they were made after April 1, 1878. One example is the E-F-G-I-I Series of 1875 5-5-5-5 plate for The Second National Bank of Springfield, Massachusetts (181). This plate replaced an A-B-C-D with the Allison-New combination. The practice of updating signatures on replacement plates appears to have ceased before 1882. The last such plates carry the Bruce-Gilfillan signature combination. Altered Plates The altering of plates was a very common, cost-effective occurrence. Anything on the plate could be changed. Exotic Alterations without Advancing Plate Letters The title of The Second National Bank of Havana, New York (343), was changed during the Original Series to The Havana National Bank on January 9, 1874. The bank was receiving 5-5-5-5s and the old title plate was altered to the new title with a new plate date of March 20, 1874, and new treasury signa- tures of Allison-Spinner. The plate letters were left unchanged. These alter- ations were carried out by the Continental National Bank Note Company. The First National Bank of Rockville, Indiana (63), was organized under the Act of February 25, 1863, and liquidated while issuing Series of 1875 notes on April 25, 1877. It was succeeded by The National Bank of Rockville (2361), chartered on June 16, 1877. The history of its A-B-C-D 5 5 5 5 plate is fascinating. The plate began as an Original Series with Chittenden-Spinner signatures, plate date of November 2, 1863, act date of February 25, 1863, and The First National title. It was next altered by the Bureau of Engraving and Printing into a Series of 1875 plate by changing the signatures to Allison-New and adding the Bureau imprint. All else remained the same. Upon the liquidation of The First National Bank, the Bureau received an order from Comptroller of the Currency John Knox on June 27, 1877, as fol- lows: Please change plate for First National Bank of Rockville, Indiana, charter number 63, so as to read "The National Bank of Rockville," Rockville, Indiana, charter number 2361. Also change date of note, so as to read June 30, 1877. (Bureau of Engraving and Printing, various dates-b). These alterations were made, and in addition the treasury signatures were changed to Allison-Wyman, but the plate letters were left unchanged. The twist in this case was that the altered plate still carried the act approval date of February 25, 1863, because charter 63 was granted under the 1863 act. Through an oversight, this date was not changed when the plate was altered, even though the new bank, charter 2361, was an Act of June 3, 1864, bank! Later, an E-F-G-H replacement plate was made for the bank and it car- ried the proper act date. The most interesting alteration order that I found was the following, again from Comptroller Knox, and dated May 7, 1877: dii " ki4A," 411,/t a(eeeo etc/464 //, D70990 van =razz p.,zatez 46;450101m4(154mto /I% ///a//r/ 7,11171.12'11A ,V.X. D70990 GOLDPERTIFICATE rAgsavilliAtitta SUPERB -UNITED STATES CURRENCY FOR SALE SEND FOR FREE PRICE LIST BOOKS FOR SALE COMPREHENSIVE CATALOG OF U.S. PAPER MONEY by Gene Hessler. 6th Edition. Hard cover. 579 pages. The new Edition. $32.00 plus $3.00 postage. Total price $35.00. Ikz...wc-,acatzs94e. ix?, x„,N29443 traumrAtibit4tatr.,5,, 0,11:mmotiffiloasurs 331).1b / • 7/ r, /// /k N929443 a.' 6". THE ENGRAVERS LINE by Gene Hessler. Hard cover. A complete history of the artists and engravers who designed U.S. Paper Money. $75.50 plus $3.50 postage. Total price $79.00. NATIONAL BANK NOTES by Don Kelly. The new 3rd Edition. Hard cover. Over 600 pages. The new expanded edition. Gives amounts issued and what is still outstanding. Retail price is $100.00. Special price is $65.00 plus $4.00 postage. Total price $69.00. U.S. ESSAY, PROOF AND SPECIMEN NOTES by Gene Hessler. Hard cover. Unissued designs and pictures of original drawings. $14.00 plus $2.00 postage. Total price $16.00. Stanley Moryez P.O. BOX 355, DEPT. M • ENGLEWOOD, 011 45322 937-89H-0114 -o 0 • 0 m n m m O 0 CD 0 Table 4. Plate letters on the Series of 1882 5-5-5-5, 10-10-10-10 and 10-10-10-20 issues of The National Bank of Commerce in St. Louis, Missouri (4178). Notice how the Y and Z plate letters were reached in the date back 10-10-10-20 combination. Data from Bureau of Engraving and Printing (undated-a,c). 5-5-5-5 10-10-10-10 Date Plate Date Plate 10-10-10-20 Approved Canceled Series of 1882 Brown Back plates: Jan 9, 1890 Jan 24, 1896 Dec 21, 1899 Dec 7, 1900 Aug 13, 1902 Aug 15, 1902 Dec 7, 1903 Apr 25, 1904 Nov 2, 1905 Nov 11, 1905 Aug 10, 1906 Sep 22, 1906 Nov 11, 1907 Dec 10, 1907 Aug 7, 1908 Aug 8, 1908 Jun 4, 1909 Jan 11, 1901 Feb 26, 1901a Dec 8, 1903 Oct 24, 1905 Nov 11, 1905 Apr 26, 1904 Sep 22, 1906 altered to E E-F F-GG -H H altered to X-Y-Z-F altered to AA-B B -CC-G altered to Dp-E E-F F-G G Dec 2, 1907 altered to H H -I F-J J -KK altered to I I -J j -KK-L E Mar 3, 1910a Mar 3, 1910a Mar 3, 1910a Mar 3, 1910a Mar 3, 1910a Mar 3, 1910a Mar 3, 1910a A-B-C-D E-F-G-H I-J-K-L M-N-O-P Q-R-S-T A-B-C-A D-E-F-B G-H-I-C J-K-L-D M-N-O-E DH -E E-F F-G G Mm-N N-00-Pp Series of 1882 Date Back plates: Jul 28, 1908 Jul 28, 1908 X-Y-Z-F Aug 12, 1908 AA-B B-CC-G Aug 7, 1908 a The date of cancelation was omitted from the ledger; date shown is when the plate was destroyed. The corporate life of the bank was extended in 1909, hence the plates destroyed on March 3, 1910, were rendered obsolete. P-Q-R-S U-V-W-X AA-B B -CG-DD E E-F F-GG-H H I i -J J -KK-L L T-U-V-W 182 NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY Please change the plate prepared for The Farmers National Bank of Mattoon, Illinois, which plate was ordered to be prepared in letter from this office February 14, 1876, to "The Farmers National Bank of Platte City," Platte City, Missouri. Transfer to bear date May 25, 1877, charter number 2356. There was no Farmers National Bank of Mattoon, Illinois. The original order was a mistake and the Comptroller was saving money by altering the plate instead of having an entirely new one made. Security Clause Alterations with Plate Letter Advancement The Emergency Currency Act of May 30, 1908, required that all Series of 1882 and 1902 face plates include the clause "or other securities." Approximately 10,000 plates were altered to comply with this act. The plate letters on those plates were advanced as they were altered. This represents the only known situation when plate letters were changed on altered plates. Reentered Plates Reentering plates was very common throughout the large size National Bank Note issues because it cost-effectively prolonged the life of plates. The idea in reentering was to refurbish existing design details; however, fundamen- tal design elements were often modified during Series of 1875 and 1882 reen- terings. Modifications involved changing manufacturer imprints, using differ- ent engravings for the vignettes, and even updating the treasury signatures. The prac- tice of updating the signatures on thor- oughly reentered plates began in the late 1870s, but ceased within a few years. In later years, great care was taken to simply restore the original design elements, the most common being the portraits on Series of 1902 plates. When plates were reentered, the plate letters were not changed even though they may have been reentered as well. Typical Series of 1902 plates lasted for about 35,000 impres- sions. However, the Series of 1902 $5 plates for The First National Bank of the City of New York (29), lasted for more than 60,000 impres- sions. Such high yields indicate that many plates were reentered. NralileinalCortnpeney.„ SWAIM 41111R11 MIMI= ItOOMOWITII TIMER NM .1/4 "UNITED STATES II F AM ER I CA f. `41" u-a.r.w.ats441.114414.41AL4k4114 '!Its VANNL411AV) 51213[011111110 STARS 111103•0111117.1111[151111tfl Orrin mrAw____Amea razinfqr NITED STATES OF AMERICA 01.11.ICEIMIDA111)--1 4.41.44,44a.r.44.w.t.s.a.=„=„taas.a.gal,m.v TIPSe/Rs ittVair.4We40 SI:1111., MON.. Z PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 183 Design Replacements Series of 1882 face plates containing certain title layout varieties were sys- tematically replaced. The early $5s utilized a face format in which the treasury signatures were stacked above and to the left of the bank title. These were largely phased out and replaced with a more standardized in-line signature variety begin- ning about the middle of 1887, and continuing at least through late 1903, based on approval dates on proofs that I examined. The following letter from Edward 0. Graves, Chief of the Bureau of Engraving and Printing to J. Abrahams, Deputy Comptroller of the Currency, dated April 25, 1888, nicely explains the motivation behind this seeming rash of replacements: I am in receipt of your letter of the 24th instant inclosing, with the request that I will inform you whether its wish can be complied with, a letter from the Peoples National Bank of Clay Center, Kansas, No. 3345, asking if a change in the character of the title on its plate can be made so as to remedy its excessive plainness, and stating that a similar favor has been accorded the First National Bank of that place; No. 3072. The letter of the Peoples National Bank is herewith returned with the information that the change in the plate of the First National Bank was made for the reason that the engraving of the title on its for- mer plate was inferior and inartistic, being produced by the patent let- tering process, and that a new plate engraved in a more artistic style was prepared, not as a favor to the bank, but for the credit of this Bureau. This course has been pursued at the discretion of the officers of the Bureau to the extent that the state of the work permitted with those National Bank Notes plates on which the lettering was conspicu- ously inferior. As the Peoples National Bank does not fall within this Plate position Y and Z from the proof of the last Series of 1902 10-10-10-10 plate made for The First National Bank of Richmond, Virginia (1111). Table 5. Plate letters on the Series of 1882 10-10-10-10 and 10- 10-10-20 plates issues for the National Shawmut Bank of Boston, Massachusetts (5155). Notice how the Y and Z plate letters were reached in the 10-10-10-10 Date Back combination. Data from Bureau of Engraving and Printing (undated-c). Series of 1882 Brown Back plates: A-B-C-A D-E-F-B G-H-I-C J-K-L-D Series of 1882 Date Back plates: Q-R-S-E T-U-V-F 10-10-10-20 10-10-10-10 W-X-Y-Z AA-BB-CD-D D E E-FF-GG-H H M-N-O-P category, I would not feel warranted in having a new plate prepared for it. In any event, it would not be desirable to have the titles of two banks in the same town engraved in the same style (Bureau of Engraving and Printing, various dates-b). Similarly, many Series of 1882 10-10-10-20 faces were purged during the same period. Many had been made using American Bank Note Company rolls. One example is a 10-10-10-20 replacement for The Putnam County National Bank of Carmel, New York (976). The bank issued 12,717 sheets of 10-10-10-20s, far fewer than would cause a plate to wear out, yet a new plate was made for the bank and approved for use on November 3, 1897. It had an entirely different bank title layout with a standard turn-of-the-centu- ry Bureau of Engraving and Printing look. The replacement plates for the purged Series of 1882 varieties sported incremented plate letters, but uti- lized the same plate dates and treasury signatures as on the originals. The purging of plates with old layouts seems 1887-1890 period followed by a lull in 1890-1891, as the glut of 1889-1890 territorial to state alterations for Dakota, Montana, Washington, Idaho, Wyoming, and belatedly, Colorado, took priority. Alterations to revise layouts seems to have continued sporadically after 1891, but not with such fervor. These replacement plates should be distinguished from numerous Series of 1882 10-10-10-20 and 50-100 American Bank Note Company plates that were altered by the Bureau of Engraving and Printing by changing the bank note company imprint in the lower border to a Bureau imprint, and removing the words "Printed at the Bureau, Engraving & Printing, U. S. Treasury Dept" from inside the border. The plate letters on the altered plates were not incremented, and the title layouts were left unchanged. An excellent example is the 10-10-10-20 plate for The Albuquerque National Bank, Territory of New Mexico (3222), which was recertified for use on July 25, 1884, after hav- ing these alterations. I found a notice to the Comptroller from the Bureau dated November 5, 1889, advising that a Series of 1882 5-5-5-5 replacement plate lettered E-F-G- H had been prepared for The City National Bank of Grand Rapids, Michigan (3293), with a new style title layout, small charter numbers, Bureau imprint, and new treasury signatures (Bureau of Engraving and Printing, various dates- b). By this time, the changing of the treasury signatures had long since been discontinued for replacement plates, so we know from this example that there was an occasional exception. Identical New Title Series of 1902 Plates The convention of copying the date from the most recent plate onto new title plates, which went into effect April 12, 1919, lead to the manufacture of a few totally identical Series of 1902 plates. Here is how this happened. The date from the previous plate was used on the new plates when a bank adopted a new title after April 1919. In cases where there were multiple title changes, the pre-1919 date was propagated forward onto all the new plates. Consequently, if the bank readopted the same title as appeared on the pre-1919 plate, the new plate had the same: (1) title, (2) plate date, (3) treasury signatures, and (4) plate lettering would start at A for each denomination. The to have flourished in the altered to Q-R-S-E altered to T-U-V-F altered to W-X-Y-Z 184 NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 185 only variable could be the wording in the security clause. Post-April 1919 plates utilized ''deposited with the treasurer" rather than "or other securities." For the pre-1919 plate to have the same security clause, it would have had to have been a Red Seal face made prior to May 30, 1908, or a Blue Seal face made after June 30, 1915. Two questions arise: (1) did all of these factors converge, and (2) if they did, how were the new plates handled? Everything converged for two banks: Philadelphia, Pennsylvania (539) and Buffalo, New York (11768). In each case, the first and third titles were identical. Bureau personnel used the pre-1919 plates as models and duplicated every detail when making the new plates bearing the common title. This means that you can find pairs of notes from these two banks with the same title, same plate date, same treasury signatures, same security clause, and same plate letter, but printed from two entirely different plates! The first use of The Philadelphia National Bank (539) title occurred on the A-B-C-D and A-B-C-A Series of 1902 Red Seal 5-5-5-5 and 10-10-10-20 face plates in 1904. The second involved Blue Seal Plain Back faces in 1928. Plates were never prepared for the intermediate title, The Philadelphia-Girard National Bank, because the bank relinquished its note issuing privilege to the Federal Reserve System during that period. One would expect the Bureau of Engraving and Printing personnel to reuse the old plates bearing the original title when the bank reestablished its circulation in 1928, but this was impossible because those plates were destroyed. New plates were prepared which were identical to the original Red Seal plates in every respect. The case of the duplicate use of The Community National Bank of Buffalo (11768) title is even more interesting. The first A-B-C-D and A-B-C-A Series of 1902 5-5-5-5 and 10-10-10-20 plates were made for that bank in 1920 after it was chartered. The titre was changed to the Community-South Side National Bank in Buying & Selling All Choice to Gem CU Fractional Currency Paying Over Bid Please Call: 916-687-7219 ROB'S COINS & CURRENCY P.O. Box 303 Wilton, CA 95693 186 NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY 1925, and back to The Community National Bank in 1926. Plates were made for each of these titles, and plate lettering began at A for each denomination. The plates bearing the first and third titles were identical in every respect. Notice in this case that printings from both the first and third title were Blue Seal Plain Backs. Consequently, it is possible that pairs of Series of 1902 Blue Seal Plain Back A position number 1 $5, $10 and $20 notes were saved with the duplicate titles! The notes with the first title would have treasury serials and geographic letters, whereas those with the third title would not. A careful comparison between the proofs in these cases reveals minute differences in the separations between various design elements in the title blocks and between the title blocks and surrounding design features. The plate makers could not exactly replicate the placement of these elements on the plates although the same rolls were used. Series of 1902 Allegheny-Pittsburgh Plates The Series of 1902 Red Seal 10-10-10-20 A-B-C-A face plates for The First National Bank of Allegheny, Pennsylvania (198) have Allegheny specified in both the tombstone and script locations within the title block. This persist- ed when the plate was converted into a Date Back face in 1908, and the plate was relettered D-E-F-B. A new 10-10-10-20 plate, as well as an added 5-5-5- 5 combination, were prepared for the bank in 1909, but on these the script location was changed to Pittsburgh. The Pittsburgh 10-10-10-20 plate was lettered G-H-I-C. The modification of the script location was not considered equivalent to a title change which would have caused lettering on the new 1 0- 1 0-10-20 plate to revert to A-B-C-A. Multiple Plate Usage For Large Banks The demand for notes for the largest banks was so great that more than one plate of a given combination was in use at the same time. An example is the $5 Series of 1902 Red Seal and Date Back issues for the National Bank of Commerce in New York (733). Notice from Table 3 that four 5-5-5-5 Red Seal plates were altered into Date Back plates in 1908, revealing that all four were in active use at that time. Consequently, it is possible to find pairs of notes from the same plate combination on which the plate letters appear to be out of order relative to the serial numbers. David Grant showed me a pair of $5 Series of 1902 Plain Backs from The National Bank of Commerce in St. Louis (4178) which carry serials 763447 and 785878, respectively from positions D3 and Xx on the 13th and 12th 5-5-5-5 plates. Obviously the two plates were on the presses at the same time. Out-of-Order Usage of Plates Robert Kvederas showed me a case where the Series of 1902 5-5-5-5 plate letters for The Textile National Bank of Philadelphia, Pennsylvania (7522) followed this progression: (1) plate A-B-C-D for Red Seals from 1905- 1908; (2) altered plate E-F-G-H for Blue Seal Date Backs 1908-1914, (3) replacement plate I-J-K-L for Blue Seal Date and Plain Backs 1914-1924, and finally (4) E-F-G-H again for the Blue Seal Plain Backs 1924 to 1929. The proofs revealed that when the I-J-K-L plate showed wear in 1924, the old E- F-G-H plate was reentered instead and restored to service. The result was out of sequence lettering relative to the serial numbers on the late Blue Seal Plain Backs. This undoubtedly occurred in the issues for other banks as well. Discussion Original Series replacement plates were prepared by the bank note com- panies and were virtually identical to those that they replaced, having identical dates, treasury signatures and plate letters. The advancing of plate letters on replacement plates was a Bureau of Engraving and Printing innovation that commenced in 1878 within the Series of 1875. PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 187 CHECK THE "GREENSHEET" GET 10 OFFERS THEN CALL ME FOR WRITE) FOR MY TOP BUYING PRICES The Kagin name appears more often than any other in the pedigrees of the rarest and scarcest notes (U.S. Paper Money Records by Gengerke) BUY ALL U.S. CURRENCY Good to Gem Unc. I know rarity (have handled over 95% of U.S. in Friedberg) and condition (pay over "ask" for some) and am prepared to "reach" for it. Premium Prices Paid For Nationals (Pay 2-3 times "book" prices for some) BUY EVERYTHING: Uncut Sheets, Errors, Stars, Special Numbers, etc. I can't sell what I don't have Pay Cash (no waiting) - No Deal Too Large A.M. ("Art") KAGIN 505 Fifth Avenue, Suite 910 Des Moines, Iowa 50309-2316 (515) 243-7363 Fax: (515) 288-8681 At 80 Now is The Time - Currency & Coin Dealer Over 50 Years I attend about 25 Currency-Coin Shows per year Visit Most States (Call, Fax or Write for Appointment) Collector Since 1928 Professional Since 1933 Founding Member PNG, President 1963-64 ANA Life Member 103, Governor 1983-87 188 NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY Table 6. Plate letters used on Series of 1902 plates for The Second National Bank of Wilkes Barre, Pennsylvania (104), The First National Bank of Hartford, Connecticut (121), and The First National Bank of Richmond, Virginia (1111), that led to the use of plate letters Y and Z. Data from Bureau of Engraving and Printing (undated-c). Wilkes Barre Hartford Richmond Plate Type of Plate Approved Plate Approved Plate Approved Combination Letters Plate For Use For Use For Use 10-10-10-20 A-B-C-A Red Seal Nov 22, 1902 Dec 15, 1902 May 10, 1905 10-10-10-10 D-E-F-G Red Seal Aug 24, 1906 Sep 19, 1906 Sep 6, 1906 10-10-10-20 H-I-J-B Blue Seal Oct 17, 1908 Jul 25, 1908 Aug 13, 1908 10-10-10-10 K-L-M-N Blue Seal Oct 14, 1908 Jul 30, 1908 Aug 20, 1908 10-10-10-10 O-P-Q-R Blue Seal Apr 30, 1920 Jan 26, 1920 Jul 6, 1912 10-10-10-10 S-T-U-V Blue Seal Jul 28, 1923 Jan 5, 1923 Jan 28, 1916 10-10-10-10 W-X-Y-Z Blue Seal Feb 27, 1929 Oct 2, 1926 Apr 1, 1921 a The Series of 1902 Date Back plates were prepared by modifying and relettering the Series of 1902 Red Seal plates. The concept of exactly what constituted a replacement plate evolved within the Bureau during the Series of 1875. At first, new treasury signatures were also added in addition to advancing the plate letters. However, by the beginning of 1882, it appears that the idea of a replacement plate had assumed a more literal meaning. Aside from the plate letters, everything else remained the same as on the previous plate including the treasury signatures, although the styles for various design elements could be changed. New bank title layouts were commonly used on replacement plates in the Series of 1882. In fact, the purpose of most Series of 1882 replacement plates was to replace inferior and inartistic layouts. In contrast, Series of 1902 replacement plates looked exactly like those they replaced. Consequently, the Series of 1902 saw full standardization of the concept of a replacement plate, specifically that the designs of like denominations were identical from plate to plate save only for the progression of the plate letters. It was very unusual for the letters Y and Z to be used on National Bank Note face plates. The only denomination on which these letters appeared were $10s. All resulted because, through serendipity, the affected banks used just the right mix of 10-10-10-20 and 10-10-10-10 plates within a given series. We have documented Y and Z plate letters on $10 Series of 1882 Date Backs for two banks (4178 and 5155), Y and Z on 1902 Red Seals for one bank (733), Yy on 1902 Date Backs for one bank (733), and Y and Z on 1902 Plain Backs for three banks (104, 121 and 1111). Other examples undoubtedly exist. Acknowledgments Doug Walcutt provided data from his observations on replacement and reentered Original Series and Series of 1875 notes. Robert Kvederas brought to my attention the duplicate use of The Philadelphia National Bank, Pennsylvania (539) title on Series of 1902 notes, and the change from Allegheny to Pittsburgh on the Series of 1902 plates for The First National Bank of Allegheny, Pennsylvania (198). Tom Conklin brought the Richmond, Virginia, 1902 Z plate to my attention. References Cited and Sources of Data Bureau of Engraving and Printing, various dates-a. Certified Proofs from U. S. National Bank Note Face Plates: National Numismatic Collections, Smithsonian Institution, Washington, DC. Bureau of Engraving and Printing, various dates-b. Correspondence To and From the Bureau of Engraving and Printing: U. S. National Archives, Washington, DC. Bureau of Engraving and Printing, various dates-c. National Bank Note Face Plate History Ledgers: U. S. National Archives, Washington, DC. II!ADM II 111111,1116 t'Ituestor $500 1880 Legal Tender Serial #1 Washington Brownback 014754. argwi'r' *WINO NOS Meld! $1,000 Gold Certificate PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 189 Lyn Knight Currency Auctions Deal With The Leading Auction Company in U.S. Currency If you are buying notes... You'll find a spectacular selection of rare and unusual currency offered for sale in each and every auction presented by Lyn Knight Currency Auctions. Our auctions are conducted throughout the year on a quarterly basis and each auction is supported by a beautiful "grand format" catalog, featuring lavish descriptions and high quality photography of the lots. 1044(40 4„--51 Annual Catalog Subscription (4 catalogs) $50 Call today to order your subscription! 800-243-5211 1890 $1,000 "Grand Watermelon" Note If you are selling notes... Lyn Knight Currency Auctions has handled virtually every great United States currency rarity. We can sell all of your notes! Colonial Currency... Obsolete Currency... Fractional Currency... Encased Postage... Confederate Currency... United States Large and Small Size Currency... National Bank Notes... Error Notes... Military Payment Certificates (MPC)... as well as Canadian Bank Notes and scarce Foreign Bank Notes. We offer: • Great Commission Rates • Cash Advances •Expert Cataloging •Beautiful Catalogs Call or send your notes today! If your collection warrants we'll be happy to travel to your location and review your notes 800-243-5211 Mail notes to Lyn Knight Currency Auctions P. 0. Box 7364, Overland Park, KS 66207-0364 We strongly recommend that you send your material via USPS Registered Mail insured for its full value. Prior to mailing material, please make a complete listing, including photocopies of the note(s), for your records. We will aclmowlege receipt of your material upon its arrival. If you have a question about currency, call Lyn Knight. He looks forward to assisting you. CuiTe Auctions A Collectors Universe Company Nasdaq: CLCT P.O. Box 7364, Overland Park, KS 66207 • 800-293-5211 • 913-338-3779 • Fax: 913-338-9759 • E-mail: lynfknight@aol.com • www.lynkniglitcom 190 November/December 2000• Whole No. 210 • PAPER MONEY 1st Annual George W. Wait Memorial Prize Society of Paper Money Collectors Official Announcement Purpose: The Society of Paper Money Collectors is chartered "to promote, stimulate, and advance the study of paper money and other financial documents in all their branches, along educational, historical and scientif- ic lines." The George W. Wait Memorial Prize is available annually to assist researchers engaged in important research leading to publication in the paper money field. George W. Wait, a founder and former SPMC President, was instrumental in launching the Society's successful publishing program. The George W. Wait Memorial Prize is established to memorialize his achievements/contributions to this field in perpetuity. Award: $500 will be awarded in unrestricted research grant(s). Note: the Awards Committee may decide to award this amount to a single applicant, or lesser amounts totaling $500 to more than one applicant. If, in the opinion of the Awards Committee, no qualifying applicant is found, funds will be held over. Eligibility: Anyone engaged in important research on paper money subjects is eligible to apply for the prize. Paper Money for the purposes of this award is to be defined broadly. In this context paper money is con- strued to mean U.S. federal currency, bonds, checks and other obligations; National Currency and National Banks; state-chartered banks of issue, obsolete notes, bonds, checks and other scrip of such banks; or rail- roads, municipalities, states, or other chartered corpora- tions; private scrip; currency substitutes; essais, proofs or specimens; or similar items from abroad; or the engraving, production or counterfeiting of paper money and related items; or financial history in which the study of financial obligations such as paper money is integral. Deadline for entries: March 15, 2001 A successful applicant must furnish sufficient informa- tion to demonstrate to the Society of Paper Money Collectors Awards Committee the importance of the research, the seriousness of the applicant, and the likeli- hood that such will be published for the consumption of the membership of SPMC and the public generally. The applicant's track record of research and publi- cation will be taken into account in making the award. A single applicant may submit up to two entries in a single year. Each entry must be full and complete in itself. It must be packaged separately and submitted separately. All rules must be followed with respect to each entry, or disqualification of the non-conforming entry will result. Additional rules: The Wait Memorial Prize may be awarded to a single applicant for the same project more than once; however awards for a single project will not be given to a single applicant more than once in five years, and no applicant may win the Wait Memorial Prize in consecutive years. An applicant who does not win an annual prize may submit an updated entry of the non-winning project in a subsequent year. Two or more applicants may submit a single entry for the Wait Prize. No members of the SPMC Awards Committee may apply for the Wait Memorial Prize in a year he/she is a member of the awarding committee. Winner agrees to acknowledge the assistance of the Society of Paper Money Collectors and the receipt of its George W. Wait Memorial Prize in any publication of research assisted by receipt of this award and to furnish a copy of any such publication to the SPMC library. Entries must include: • the full name of the applicant(s) • each applicant's social security number • a permanent address for each applicant • a telephone number for each applicant • the title of the research project/book • sufficient written material of the scope and progress of the project thus far, including published samples of portions of the research project, in appropriate Entries may also include: • the applicant's SPMC membership number(s) • the applicant's e-mail address (if available) • a bibliography and/or samples of the applicant's past published paper money research • a photograph of each applicant suitable for publicity • a publishable photograph(s) of paper money inte- gral to the applicant's research • a statement of publishability for the project under consideration from a recognized publisher Judging: All entries must be received by March 15, 2001. All entries must be complete when submitted, and sufficient return postage should be included if return is desired. Address entries to George W. Wait Memorial Prize, P.O. Box 793941, Dallas, TX 75379. The single, over-riding criterion for the awarding of the Wait Memorial Prize will be the importance of the publication of the applicant's research to SPMC members and the general public. All decisions of the SPMC Awards Committee will be final. First publication of the awarding of the Wait Memorial Prize will be revealed in the May/June 2000 issue of SPMC's magazine, Paper Money, with subse- quent news release to additional media. Hey, Big Spender: Leave Your Mark on SPMC History This space for lease Only $80 VERY Limited Space Still Available Deadline: December 1 PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 191 1961-2001 SPMC is celebrating the Big Four-Oh (40)! You can leave your mark on SPMC history ONE LAST CHANCE TO PURCHASE ADS in our mammoth 40th Anniversary Commemorative Issue of Paper Money Have Fun & Support SPMC on this milestone event Congratulate SPMC in your own words You can also include 1 photo: So run a photo of yourself, or your favorite note or your kids or your dog (SASE MUST accompany photo for return) Leave Your Mark on SPMC History Your Name Here: Your Message Here: Only $50 Surely you can afford 50 bucks, too Write your text in space as above or at left Draw up your ad on a separate sheet Payment MUST accompany ad SPMC's 40th Anniversary Special Commemorative Issue will also contain loads of historical articles & photos, scads of SPMC memorabilia and trivia from our past. So invest a few bucks to pay great dividends Don't miss out. We want YOU too! (All ads sold subject to space availability) Please make check payable to: SPMC Limited Space Available for larger ads Paper Money Page Rates on first come basis: $300 * P.O. Box 793941 Dallas, TX 75379-3941 4- conrriWEArIA.L, caRREWCy. THrs B I L. I., entitles the Bearer to () receive 1..-4 E; (r) F0 t 1 (..1! or the Value thereol:f! in gd or Siever, according to the Relo- 9 lotions of the C. Co.". -lic.,C6sYS, held at 3 'Piiiteaidf:ti he 1II of c.41:4, 17,75. '1/ 4-1/4,.. ..,X 7;4 -14/ -Zri32:Ct - it ItlEtt:OVAiat le' la'. e • , --. /44 ,/,>>.47/4 w , /7.4 ///../44 ',4 )4: ; l h';';'!;;/4.44 4/;;,..4me.,-./ FIFTY, D OLLARS 4 ,4,44,vmer.41•4 42,,,y)//,',/,:, /..;;:li;1//,//'/4/ (•94/)/7/Wv '*..:111 •■■`..../."--.C., . • • ••-<, - rONENAOLI -11 LE , UNIT EIMSTATEROF 1.■ A. 0.• e ,, ErElIVABLE 1,011 ILL ♦T•TIN STAMPS_ 1`" NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY192 Buying, Selling, Auctioning U. S. Paper Money Since 1935 Now Soliciting Consignments for Our 2001 Auction Sales 123 West 57th Street New York, New York 10019 Fax: Phone: E-Mail: Web Site: 212-245-5018 212-582-2580 info@stacks.com www.stacks.com PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 193 OUR CURRENT BOOK LIST OF UNITED STATES PAPER MONEY Jl American Numismatic Society. America's Currency: 1780-1866. New York, 1986. 142pp., illus. $15.00 J2 Anderson, William G. The Price of Liberty... The Public Debt of the American Revolution. Charlottesville, 1983. 180pp., illus. The standard reference pertaining to the various debt certificates of the American colonies. $35.00 J3 Ball, Douglas B. Comprehensive Catalog and History of Confederate Bonds. Port Clinton, 1998. 288pp., illus. $40.00 J4 Bart, Frederick J. Comprehensive Catalog of United States Paper Money Errors. Port Clinton, OH. 1994. 190 pp., illus. Paper. $14.95J5 Bressett, Kenneth. Guide Book of United States Currency. Racine. 2nd ed., 1995. 336 pp., illus. J6 Cambell, Lance K. Prisoner of War and Concentration Camp Money of the 20th Century. 2nd ed. Port Clinton, OH 1993. 200 pp., illus. Hardbound. 83 J7 Carothers, Neil. Fractional Money. Wolfeboro, 1988 reprint of the 1930 work. 373 pp., illus. Paper. $19.95 J8 Chambliss, Carlson R. U.S. Paper Money - Guide Handbook. Port Clinton, 1999. 479 pp., illus. A useful book in obtaining both historical information as well as ideas with which to build collections in all categories of the U.S. currency field. $19.95 J9 Criswell, Grover C. Confederate and Southern States Bonds. 2nd ed., Florida, 1980. 374 pp., illus. $37.50 J10 . Confederate War Bonds. 1993-1994 Edition. Salt Springs, FL. 1992. 76 pp., illus. Paper $5.00 Jll . Colonel Grover Criswell's Guide to Confederate Money. Salt Springs, FL. 1991. 58 pp., illus. Paper. $5.00 J12 . Comprehensive Catalog of Confederate Paper Money. Port Clinton, OH. 1996. 352 pp., illus. $35.00 J13 Friedberg, Arthur L. and Ira S. Paper Money of the United States. 15th ed. Clifton, 1998. 300 pp., illus. $35.00 J14 Hessler, Gene. The Comprehensive Catalog of U.S. Paper Money. 6th ed. Port Clifton, OH.1997. 505 pp., illus. Hardbound. $39.95 J15 U.S. Essay, Proof and Specimen Notes. Portage, 1979. 224 pp., illus. $19.95 J16 Hodder, Michael and Bowers, Q. David. The Standard Catalogue of Encased Postage Stamps. Wolfeboro, 1989. 191 pp., illus. Paper. J17 Huntoon, Peter. United States Large Size National Bank Notes. Laramie, WY. 1995. 283 pp., illus. $49.95 J18 Keller, Kenneth. Sutler Paper Money. Rockford, 1994. 245 pp., illus. Paper. $50.00 J19 Kelly, Don C. National Bank Notes - A Guide with Prices. Oxford, OH. 1997. 596 pp., illus. $100.00 J20 Kleeberg, John M., ed. Money of Pre-Federal America. New York, 1992. 253 pp., illus. $25.00 J21 McCusker, John J. Money and Exchange in Europe & America 1600-1775. Chapel Hills, 1978. 367 pp. Paper. $25.00 J22 Mitchell, Ralph A. and Shafer, Neil. Standard Catalog of Depression Scrip of the United States. Iola, 1984. 318 pp., illus. Paper. $39.95 J23 Murray, Douglas D. Comprehensive Catalog of United States Large Size Star Notes - 1910-1929. Port Clinton, 1996. 128 pp., illus. Paper. $24.95 J24 Newman, Eric P The Early Paper Money of America. 4th ed. Iola, 1997. 487 pp., illus. $7J25 Oakes, Dean and Schwartz, John. Standard Guide to Small-Size U.S. Paper Money - 1928 to Date. 2nd ed. Iola, 1997. 339 pp., illus. Paper. 157.0500 J26 Prather, Dewitt G. United States National Bank Notes and their Seals. Charlotte, 1986. 199 pp. illus. $40.00 J27 Rust, Alvin E. Mormon and Utah Coin Currency. Salt Lake City, 1984. 247 pp., illus. $39.95 J28 Schingoethe, Herb and Martha College Currency - Money for Business Training. Iola, 1993. Illus. $95.00 J29 Schwan, Fred. Comprehensive Catalog of Military Payment Certificates. Port Clinton, OH. 1997. 222 pp., illus. $35.00 J30 Schwan, Fred and Boling, Joseph E. World War II Remembered. Port Clinton, OH. 1995. 864 pp., illus. $65.00 J31 Scott, Kenneth. Counterfeiting in Colonial Rhode Island. Providence, 1960. 74 pp., illus. $30.00 J32 . Counterfeiting in Colonial Connecticut. New York, 1957. 244 pp. plus 24 plates. Paper. $$6127.9550J33 Slabaugh, Arlie R. Confederate States Paper Money. 8th ed. 1993. 128 pp., illus. Paper. J34 Sullivan, Stephen M. U.S. Error Note Encyclopedia. Melbourne, 1997. 431 pp., illus. $35.00 J35 Thian, Raphael The Register of the Confederate Debt. Lawrence, 1972. Reprint of the classic 1880 work. 190 pp.P $55.00 J36 . Same. Lincoln, MA. 190 pp. A later reprint than the book offered above. $55.00 J37 Cassell, David. United States Pattern Postage Currency Coins. Miami, 2000., 225pp., illus. This book is by far the most exhaustive reference regarding this area of pattern collecting. The author makes valuable corrections to both Judd and Pollock. $145.00 J38 Harlow, Thompson, R. Connecticut Engravers: 1774-1820. Hartford, 1971. 4Opp., illus. Paper. Printed in the October 1971 Connecticut Historical Society Bulletin $9.50 $24.95 Oakes, Dean and Schwartz, John. Standard Guide to Small Size U.S. Paper Money - 1928 to Date. 3rd ed. Iola, 1999. 352 pp., illus. Paper. The new edition of this popular, highly regarded reference. $24.95 O'Brien, Donald C. Abner Reed: A Connecticut Engraver. Hartford, 1979. 16pp., illus. Paper. Printed in the January 1979 Connecticut Historical Society Bulletin. Also included is an article entitled "Stephen Johnson: Patriot Minister" by Bruce Stark. $7.50 Slabaugh, Arlie R. Confederate States Paper Money. 9th ed. Iola, 1998. 246 pp., illus. The new expanded edition of this book, now including a useful section on Southern States Currency. $19.95 When ordering books, please add $3.50 for the first item and $2.00 for each additional title or volume. All books are shipped via 4th Class Mail unless otherwise requested. Please call for 1st Class or Air Mail rates. 123 WEST 57th STREET, NEW YORK, N.Y. 10019-2280 J39 J40 J41 J42 Krause, Chester L. and Lemke, Robert F Standard Catalog of United States Paper Money. 18th ed. Iola, 1999. 214 pp., illus. The new edition of this popular, versatile reference. The Standard Reference Guide to IndianPaperTwoney 194 NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY New Volume Catalogs Currency of India Reviewed by Frank Clark IF YOU COLLECT INDIAN PAPER MONEY,Asian paper money, British Commonwealth issues, etc. or just want to add an impressive book to your library, The Standard Reference Guide to Indian Paper Money by SPMC member Kishore Jhunjhunwalla is the book for you. This very handsome tome is written in English, and is very user friendly along with being a storehouse of information on this fascinating subject. The book is quite large: 455 pages with extra pages at the end designed for readers' notes. The cover, binding, end boards, paper and frontispiece are superb. There is also a ribbon marker and the top and side page edges are color-coded for easy reference when switching back and forth between chapters or notes. This is the first book of its kind that tackles the entire scope of Indian paper money. Mr. Jhunjhunwalla is also the author of Indian Paper Money Since 1950. All notes are pictured in their actual colors except for a handful that are pictured in black and white. Both sides are displayed unless the note is uniface. I found very innovative a reproduction scale of from 30 percent to 130 percent that had been added to each page. This enables the reader to tell at a glance at what percentage a note had been enlarged or shrunk. There are also many maps, which show that India also consist- ed of Burma until 1935 and West and East Pakistan until 1947. The maps are at the beginning of each chapter and portray cities, regions, states, etc. that will be discussed in the upcoming chapter. The author includes several signature tables, and tables listing what languages are on the notes. Security features of modern Indian bank notes are diagrammed and terminology used on Indian bank notes is also dia- grammed. A listing of the monetary systems employed in India throughout its history is also listed. Notes are arranged chronologically in ascending order of denomination. There are no values listed in the book. However, a seperate price guide based on this catalog will be issued on a regular basis in the future. A CD version of this book is also being prepared. The beginnings of paper money in India go back to 1770, when the private Bank of Hindostan issued notes. From that point in time, other private and Presidency banks issued paper money until 1861, when notes were issued by the government of India. The first govern- ment of India notes were uniface. Later the notes were printed on both sides. Starting in 1928 the notes were printed in India and the supply of notes from England ceased. Later, after independence from the British and the establishment of a democracy, the Reserve Bank of India began to issue notes. This continues until today. Specialized issues are also covered including Indian notes used in Burma, Pakistan, United Arab Emirates, Qatar, Bahrain, Kuwait, Muscat and Oman. Haj Pilgrim issues for travel to Mecca are listed. The author also lists notes and card coupons of the Princely States, Indo-Portuguese Territory notes, Indo-French Territory notes, prisoner-of-war coupons for the Boer War, World War I and World War II, the non-note issue of the Indian National Army which fought along side the Japanese during World War II. The final sec- tion describes private note and coupon issues for World Wars I and II. As you can see, India has a varied and interesting currency history. I recommend this book highly. The cost is $75, which includes postage by air mail. Orders can be sent to Currencies & Coins 53, The Arcade, World Trade Centre, Cuffe Parade, Bombay 400 005 India or by email to banknotes@geocities.com . The website is www.numisindia.com . Got email? Get the E-Sylum! Into numismatic research? Have a soft spot for numismatic literature? Join hundreds of fellow numismatists with your free subscription to -- The E-Sylum The E-Sylum is a free, weekly email newsletter sponsored by the Numismatic Bibliomania Society (NBS) as an online companion to The Asylum, the Society's quarterly journal. You don't need to belong to NBS to subscribe subscriptions are free to all! See what hundreds of researchers and bibliophiles from around the world read each week. Just send your email subscription request to Wayne Homren at whomren@coinlibrary.com PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 195 Last Year Alone... Littleton Spent More Than $14 Million on U.S. Coins & Paper Money! Why We Need Your U.S. Paper Money It's simple. We have lots of customers, and because of their collecting needs, WE NEED YOUR PAPER MONEY! We can afford to pay highly competitive buy prices because we retail all the notes we buy. David Sandman, PresidentOver 150,000+ Customers Want Your Notes! ANA Life Member #4463; PNG #510; Society of Paper MoneyWide Range of U.S. Collectors LM#163; Member, Notes Wanted! Professional Currency Dealers Association • Single notes to entire collections • Very Good to Gem • Early large size notes to high denomination small size notes • All types including Legal Tender Notes, Silver & Gold Certificates and more Knowledge and Experience Count — We've Got Both We've earned our reputation as a nationally recognized leader in the numismatic field. And our buying team — with more than 60 years of combined experience in the grading and buying of coins and paper money — has played a crucial role. Why You Should Consider Selling to Littleton • Highly competitive buy prices • Fair appraisals and offers Jim Reardon (left) and Butch Caswell, two • Fast confirmation and settlementof Littleton's experienced team of buyers. • Finders fees and joint arrangementsWe welcome the chance • Over 50 years experience buying and selling coinsto consider your notes! and paper money Buyer Phone: (603) 444-1020 • We welcome the opportunity to purchase your paper money ©20C,Toll Free: (800) 581-2646 Fax: (603) 444-3501 or Toll Free Fax: (877) 850-3540 Teletype: Facts D97 CoinNet NHO7 coinbuy@littletoncoin.com Dun & Bradstreet #01-892-9653 Over 50 Years of Friendly Service to Collectors! AYES! I'm interested in selling paper money to Littleton. Please contact me regarding my collection or holdings. Fill out this coupon and Fax Toll Free to (877) 850-3540, or Mail to: Littleton Coin Company Dept. BFS005 1309 Mt. Eustis Road Littleton, N.H. 03561-3735 coinbuy@littletoncoin.com L r Name Address City/State/Zip Daytime Phone Best time to call NEM & TRAIIFRS BRANCH CINCINNATI 196 NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY How They Did the Deal in 1861 BY WENDELL WOLKA Figure 1: The $10 was a totally new design, incorporating all new elements including the portrait of the bank's President, Dr. John Andrews, on the right. Since the President was required to sign all notes of $5 and above, the collector acquires an auto- graphed portrait of Dr. Andrews on every issued note. More than 84,000 notes were put into circulation between 1859 and 1863-1864. There are 27 known surviving examples. The FindAv. .:r HILE WADING THROUGH THE HUNDREDS OF_ cubic feet of documents related to the State Bank of Ohio atthe State Archives in Columbus, Ohio in 1998, I came acrossa nondescript box labeled "Executive Papers." Inside were a number of miscellaneous letters and documents of minimal interest to the paper money researcher. However, lying in the bottom of the box was a file folder labeled "Contracts." When I opened the folder I came face to face with the 1861 printing contract between the American Bank Note Company and the State Bank of Ohio. After reading the details of this document, several mysteries were solved and several more were created. This contract offers a fascinating look at how bank note companies and banks conducted business at the dawn of the Civil War. The purpose of this article is to explore the details of this contract and relate them to the numismatic aspects of 19th century banking in general and the State Bank of Ohio in particular. The State Bank of Ohio: A Profile The State Bank of Ohio was chartered in 1845 for a period of 21 years; its scheduled termination set for May 1, 1866. The bank, at its high point, had 41 branches located throughout the state and was considered one of the most respected and secure institutions in the United States during its existence. Of the 41 established branches, 34 converted to National Banks. To its credit, although the bank branches issued just under 5,800,000 bank notes with a face valve in excess of $22,000,000, not a single note holder ever lost a cent due to holding this bank's issues. Every note presented was promptly redeemed, at least one as late as 1917! The State Bank of Ohio & its Bank Note Company Partners The bank's sheer size made it a valuable customer for the bank note printing companies and allowed it to negotiate from a position of strength with them. In 1845, the State Bank of Ohio split the business between Toppan, The PRESIDENT'S Column By FRANK CLARK The GREEN GOODS PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 197 THE PAPER MONEY INDEX IS READY AND Iask all members to take advantage of this opportu- nity to acquire one. It covers the years from the first issue of our journal in 1962 through 1999. I want to thank again member George Tremmel for compiling it. The Index will be a valuable tool to add to any numis- matic library. The research possibilities are endless. You will be able to find which past issues of Paper Money contain articles that interest you. There could even be past arti- cles that heighten your interest in an area you already collect, or make you want to add another collecting spe- ciality to your hobby. I have already sent my check off and cannot wait to receive it! The index will be in two forms. The first is a hard copy for $12, and the second form is a hard copy plus a floppy disk for $13. So, if you have a computer, searching will be very easy! You can obtain the Index by mailing a check payable to SPMC to: Robert Schreiner Swindled GG RED BANK, N.J., AUG. 8. -- MR. FRANK, Amiller of Kansas City, came East a few days ago and sold twenty-seven car loads of flour, receiving in payment bills of large denominations. Today he met a green goods man who offered to exchange the hills for smaller ones for 1 per cent. The miller accepted the offer and the swindler brought him to Red Bank, where the game was played. The miller gave in exchange $7,500 for green goods in a tin box. The swindlers have escaped." -- Pierce County Tribune, Rugby, North Dakota, August 12, 1893 Gun Money c A JUNK DEALER IN WINNIPEG IMPOSED AN Id muzzle-loading musket on an English immigrant a P.O. Box 2331 Chapel Hill, NC 27515-2331. Bob Cochran has stepped down from serving as SPMC's advertising manager for Paper Money. We need someone to replace him. If you would like to help the Society and this is something you would like to do, please contact our editor, Fred Reed. I would like to mention some awards. The Numismatic Literay Guild bestowed on SPMC, Fred L. Reed III, Editor, its award for Best Issue in the Non- profit or Club Numismatic Magazine category for Paper Money's January-February 2000 issue. The NLG also awarded SPMC Vice President Wendell Wolka its top honor known as the Clemy Award. Also, member Art Kagin received the ANA's highest award for 2000, its Farran Zerbe award. Congratulations to everybody! One item that has come before the SPMC board is endorsement of candidates who are or will be running for ANA office. SPMC policy is not to endorse anyone running for ANA office. However, individual members who are ANA members are encouraged to endorse can- didates of their choice and to vote in all ANA elections. This issue of Paper Money will arrive shortly after the National and World Paper Money Convention in St. Louis. I hope you were able to attend and take in the bourse, auction and our society meeting -- and of course add to your collection. Frank few days ago, along with thrilling anecdotes about `Injun' inci- dents. The purchaser found the barrel plugged up with what appeared to be wads. He took it to a gunsmith to be cleaned, and the smith poked out $705 in good Canadian bank notes. -- Park River Gazette-Witness." -- Turtle Nlountain Star, Rolla, N.D., Febniaiy 23, 1893. A Bad $5 Bank Note GG 101 0 ECEIVING TELLER HANINIOND OF THE SUB- IN-Treasury recently captured an excellent $5 bank note counterfeit, which was presented by a young man to have changed. The note was evidently very old and was torn and defaced by usage in circulation, but the workmanship was of the highest order. The note was made to represent one of the issue of the National Bank of Pawling, N.Y., which was autho- rized on July 20, 1865. Mr. Hammond is of the opinion that the bogus note has been in circulation for many years. When the young man who presented it was told it was useless he left wearing a pronounced expression of disgust. -- Baltimore American." -- Butte (Montana) Miner, Sept. 15, 1896. A Bank Note Fan GW AN MADE OF BANK NOTES WAS THE RE- reshing gift made to a Methodist pastor of Newark, N.J., the other evening. This method of raising the wind should be adopted by all donation parties. -- The Bismarck (Dakota) Herald, June 16, 1883. 198 NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY Figure 2: The $1 design, a totally new rendition, was approved in late 1859 and first printed in 1860. The main vignette is a portrait of Hosea Williams, President of the Delaware County branch and a member of both the State Bank of Ohio's Board of Control as well as the Executive Committee. More than 332,000 notes were issued, with 110 surviving speci- mens known today. Carpenter & Co., Cincinnati, and Danforth, Spencer and Hufty, New York and Philadelphia. This continued until June of 1850 when the State Bank of Ohio put all of its bank note business out for bid. Requests for quotation were sent to the firms of Draper, Welsh & Co. and Rawdon, Wright, Hatch & Edson, as well as the two incumbent suppliers of bank notes - Toppan, Carpenter & Co. and Danforth, Bald & Co. The business was awarded to Draper, Welsh and Co. early in 1851 on a sole source basis. Almost immediately Draper, Welsh & Co. had difficulty fulfilling the contract, suffering both delivery and quality problems trying to keep up with the Bank's demand for bank notes. This resulted in the firm nearly losing the business in 1852. However, things were patched up and Draper, Welsh & Co. continued to enjoy the business on an exclusive basis from 1851 to 1856, when the contract was renewed for another five years via a fifty-eight word letter! When the great American Bank Note Company Association was formed in 1858, it became the sole supplier of bank notes to the State Bank of Ohio (via Draper, Welsh & Co., one of its member companies). The first issue to have only the American Bank Note Co. imprint was the 1859 redesign of the bank's $10 note (see Figure 1) which was first printed in the Spring of 1859. The redesigned $1 was approved in 1859 and began deliveries in 1860 (see Figure 2). Other denomination designs remained unchanged and sported both the predecessor Draper, Welsh & Co. imprint as well as the ABNCo. mono- gram. The 1861 Contract American Bank Note Company's first (and as it turned out its last) con- tract with the State Bank of Ohio was executed on January 24, 1861, for a term to coincide with the end of the Bank's charter life, May 1, 1866. Following are excerpts from the contract and observations on each: That the said American Bank Note Company agree to furnish the said the State Bank of Ohio the number of impressions which may be wanted and ordered by said Bank from this date to May 1st, 1866, of the following denominations, that is to say Ones, Twos, Threes, Fives, Tens, Twenties, Fifties and Hundreds from steel plates executed in the best & most perfect style of the art of engraving with the names & locations of each of the branches as the same may be required by the President, engraved upon the face of the notes and with the names & locations of the said branches severally & as required, engraved on the backs, on each end of the backs of the notes, and also the denomination of the note & the words State Bank of Ohio; the backs of the notes to be printed with indelible red ink. While the State Bank of Ohio included $20, $50, and $100 denomina- tions in the contract, these denominations were never actually ordered. The bank's earlier experience had shown that $20s received limited use, while $50s were seldom ordered by the branches or used in commerce. The bank never issued $100s during its entire existence. The bank continued the use of its n Main 5111 5111 E It HARRY IS BUYING NATIONALS — LARGE AND SMALL UNCUT SHEETS TYPE NOTES UNUSUAL SERIAL NUMBERS OBSOLETES ERRORS HARRY E. JONES PO Box 30369 Cleveland, Ohio 44130 1-440-234-3330 Buying Carl Bombara Selling United States Currency P.O. Box 524 •-•:3 ,•".6 New York, N.Y. 10116-0524 Phone 212 989-9108 cd Always Wanted Monmouth County, New Jersey Obsoletes — Nationals — Scrip Histories and Memorabilia Allenhurst — Allentown - Asbury Park — Atlantic Highlands — Belmar Bradley Beach — Eatontown — Englishtown — Freehold — Howell Keansburg — Keyport — Long Branch — Manasquan — Matawan Middletown — Ocean Grove — Red Bank — Sea Bright — Spring Lake N.B. Buckman P.O. Box 608, Ocean Grove, NJ 07756 800-533-6163 Fax: 732-282-2525 WANTED COLONIAL/CONTINENTAL BANKNOTES Any Quantity, Any Condition. Ship in confidence to: Steve Pomex (Member ANA, SPMC, IBNS) PO Box 2, Ridgefield Park, NJ - 07660 Tel: 201-641-6641 / Fax: 201-641-1700 Email: Steve@Pomexport.com PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 199 PA PER MONEY will accept classified advertising—from members only—on a basis of 15c per word, with a minimum charge of $3.75. The primary purpose of the ads is to assist members in exchanging, buying, selling or locating special- ized 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 "Society of Paper Money Collectors," and reach Editor Fred Reed, P.O. Box 793941, Dallas, TX 75379, by the first of the month preceding the month of issue (i.e., Dec. 1 for Jan./Feb. issue). Word count: Name and address count as five words. All other words and abbreviations, figure combinations and initials count as separate words. No check copies. 10% discount for four or more insertions of the same copy. HUNTSVILLE ALABAMA paper wanted: Nationals, obsoletes, merchant scrip, checks, postcards, etc. Bob Cochran, P.O. Box 1085, Florissant, MO 63031. Life Member SPMC. (212) WANTED SMALL SIZE NATIONALS on these Dallas banks: National Bank of Commerce #3985, Dallas National Bank #11749 and North Texas National Bank #12736. Frank Clark, P.O. Box 117060, Carrollton, TX 75(111. (210) SHORT articles wanted now! Contact the Editor: fredespmc.org NYC WANTED: Issued NYC, Brooklyn, Williamsburgh obsoletes, any obsoletes from locations within present-day Manhattan, Brooklyn, Bronx, Queens, Staten Island. Steve Goldberg, Box 402, Laurel, MD 20725 -0402. (212) PAPER MONEY BACK ISSUES WANTED: Vol 4 #1, issue 13 (Winter 1965); Vol. 8 #1, issue 29 (First Quarter 1969); Vol. 27 #6, issue 138 (Nov/Dec 1988); Vol. 33 #1, issue 169 (Jan/Feb 1994). Bob Cochran, Box 1085, Florissant, MO 63031. (212) BUYING SMALL SIZE FRNs 1928 $500, $100 Gem UNC. 1928, 1934 Packs of $1000. All Gold Certificates, Gem. Jeff Tanner, P.O. Box 2265 Sedona, AZ 86339 (213) Cash:. -s I HA Ni K LI N R NCH.COLU' LE.1 200 NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY Figure 3: The $2, first issued in September, 1861, was also a totally new design, featuring the portraits of John Bacon (left) and William A. Otis (right), both members of the Executive Committee of the bank and prominent bankers in Springfield and Cleveland respectively. The note was printed until 1863, with only approximately 25,000 notes actually being issued. Today, nine surviving specimens are known to exist. hallmark red backs as well as the use of printed branch names to aid in the note redemption and sorting process. ...which are to be delivered at the office of the State Bank of Ohio in Columbus at the expense & risk of said American Bank Note Company; that is to say if any of said impressions shall be lost in the transmission & be counterfeited or wrongfully put into circulation, other plates from such lost & used denominations shall be exe- cuted & impressions as aforesaid delivered as aforesaid therefrom without addi- tional charge or expense to said Bank, & so from time to time as such accidents shall happen during said term to May 1st 1866. And it is also understood that if said plates be counterfeited so that the Board of Control or the Executive Committee shall determine that such counterfeits are dangerous, then said American Bank Note Company shall at their own expense execute other plates and so as often as the plates or impressions from them shall be counteifeited & determined to be dangerous by the Board or Executive Committee as aforesaid during the said term from this date to May 1st 1866. Because of the amount of business involved, American Bank Note Company agreed to some rather one-sided terms. Notes were to be delivered at American Bank Note Company's expense and risk. Further, if stolen notes were put into circulation or counterfeited, American Bank Note Company was to stand the expense of producing new plates and providing replacement notes. This was also the case if counterfeit plates were deemed dangerous by the State Bank of Ohio. Fortunately for American Bank Note Company, there are no known instances of this provision having to be enforced. There are, in fact, no known counterfeits of these last issue denominations and only a couple of scattered raised notes which probably did not qualify as dangerous. It is further understood that the American Bank Note Company guarantee Ten thousand impressions only from plates printed with the patent green ink & that the State Bank of Ohio agree to pay said company for retouching such plates the scam of Fifty dollars after each ten thousand impressions executed & delivered. And said American Bank Note Company further agree with said Bank that they will furnish the best description of Hand made Bank Note paper for said Bank at the rate of Twenty two dollars & fifty cents per thousand sheets, each sheet mak- ing two impressions, and to furnish Eight thousand impressions per month if required and ordered by the President of said Bank for & during the period afore- said and the said the State Bank of Ohio agrees to pay said American Bank Note Company for every thousand impressions of 1-1-1-1 notes printed on the back as aforesaid & on the face with patent green ink & black carbon ink, executed and delivered, the sum of Sixty five dollars; for every thousand impressions of 2-2-2-2 notes printed on the back & on the face with patent green ink & black carbon ink, executed and delivered, the sum of Sixty five dollars; for every thousand impres- sions of 3-3-3-3 notes printed on the back & on the face with black carbon ink & typographical patent green protector, executed & delivered, the sum of Fifty jive dollars: for every thousand impressions of 5-5-5-5 notes printed 077 the back and on the face with anti photographic red ink & black carbon ink, executed and delivered, the sum of Sixty five dollars: for every thousand impressions of 10-10- 10-10 notes printed on the back & on the _Pee with anti photographic red ink & ALWAYS BUYING • National Bank Notes • Large & Small Size • Type Notes • Large & Small Size • C.S.A. • • Obsoletes • Sample Buy Prices Fr # F VF XF CU Gem CU 240-244 500 825 1000 1800 353-355 500 1150 2275 3600 9000 747-780 225 325 650 1150 259-265 450 1075 1750 2375 4850 952-963 135 275 425 675 2100 1605 150 275 375 650 1400 1954-F 200 400 600 1500 2500 GLENN G. WRIGHT P.O. BOX 311 Campbellsport, WI 53010 920-533-8248 rat$1111:11111 1 • 1.1.41,1, l• S,011,1.0.1 • IIITSOMMIAllfinn.m.1141neentniel.lne ttttt ,•■■ vs t. '44 A516011',Vr-='...- -VI4Wi OP 2943 • 4702. : E '11 :C923 /11i//.1 4,41 2 4ta. • otz I COLLECT MINNESOTA OBSOLETE CURRENCY and NATIONAL BANK NOTES Please offer what you have for sale. Charles C. Parrish P.O. Box 481 Rosemount, Minnesota 55068 (651) 423-1039 SPMC LM 114—PCDA—LM ANA Since 1976 PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 201 EARLY AMERICAN NUMISMATICS • 619-273-3566 We maintain the LARGEST ACTIVE INVENTORY IN THE WORLD! COLONIAL & CONTINENTAL CURRENCY SEND US YOUR WANT LISTS. FREE PRICE LISTS AVAILABLE. SERVICES: q Colonial Coins q Colonial Currency q Rare & Choice Type Currency q Pre-1800 Fiscal Paper q Encased Postage Stamps SERVICES: q Portfolio Development q Major Show Coverage q Auction Attendance EARLY AMERICAN NUMISMATICS do Dana Linett P.O. Box 2442 • LaJolla, CA 92038 619-273-3566 Members: Life ANA, CSNA, EAC, SPMC, FUN ANACS Y COVNTY 1;ISANCII WOOSTIal 202 NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY Figure 4: The $3 was essentially a rearranged version of the previous design with red protectors added (see Figure 5). The portraits are believed to be those of Judge Jacob Burnet (left) and Judge Ebenezer Lane (right). This note was first printed in 1861 and con- tinued until 1863, with a minuscule issue of just under 8,000 notes. Not surprisingly, there are only three known surviving specimens. black carbon ink, executed and delivered, the sum of Sixty five dollars; and all other denominations required, executed & delivered, to be printed at the same rate as aforesaid. This section of the contract dealt with the costs, charges, and specifica- tions of the denominations covered by the contract. Prior to discovery of this contract, the $1 denomination was known with both red and green protectors although nothing was known as to why. Of the 110 known surviving $1 speci- mens, only seven have green protectors. From the above contract language it now becomes evident that the $1, $2, and $3 notes were all specified to have green protectors. This did not hap- pen although recently discovered correspondence indicates that models and proofs of a green protector $2 and two different versions of a green protector $3 were provided for evaluation in February and March 1861. It is not believed that these models and proofs have survived to the present day. The $1 note started out with red protectors in 1860, briefly switched to green protectors between approximately March and May 1861, and then changed hack to red protectors again. The $2 and $3 notes were never produced with green pro- tectors when introduced later in 1861 (see Figures 3 and 4). The cryptic pro- vision related to a $50 retouch charge after every 10,000 impressions which was to be paid by the State Bank of Ohio gives us an inkling of what happened. Apparently the Patent green ink somehow resulted in shorter plate life. While many banks used this green ink, most never had the extended press runs required by the State Bank of Ohio. More recently discovered correspondence has finally identified why and when the State Bank of Ohio decided not to continue with the green protec- tors on the lowest three denominations. A letter dated April 6, 1861, addressed to Robert Draper of the American Bank Note Company relates the problem: Office of the State Bank of Ohio Columbus Apl. 6th 1861 R. Draper Esqr Manager Dear Sir, Mr. Finn has found that the green till7 077 our notes, acts in a powerful manner in wearing off the points of his pens whether pointed gold pens or steel pens. He says the best pen he can get will not sign over one hundred sheets with unifOrmity and is entirely destroyed in signing 400 sheets. On the reel tint one of the same pens will sign 40,000 without being injured in the least. The expense of this tint (green) if this is to be the effect will hardly justifj , its preference over the red. Can you explain this? Is it new to you? Have others complained of it? What would you suggest? Yours truly, J. Andrews Prest. In light of this letter, the $50 plate retouch provision mentioned above makes sense. Mr. Finn was the bank's Vice President who had to sign every VISIT MY WEB PAGE AT WWW.KYZIVATCURRENCY.COM FOR A GOOD SELECTION OF NOTES CONSERVATIVELY GRADED AND REASONABLY PRICED FOR THE COLLECTOR NATIONAL BANK NOTES LARGE SIZE TYPE SMALL SIZE TYPE STAR NOTES WEBS MISCELLANEOUS?? TIM KYZIVAT (708) 784-0974 °11 '41 PCDA, SPMC • :1.11CT,s WORLD PAPER MONEY specialized in Poland, Russia & E.Europe ATS notes Free Price List www.atsnotes.com ats (tatsnotes.com Tom Sluszkiewicz P.O.Box 54521, Middlegate Postal BURNABY, B.C., CANADA, V5E 4J6 1-71 Ft tt Your Hometown Currency Headquarters Top prices paid for National Currency Collections, Large-Size Type Notes, All Florida Currency and Scrip Largest Inventory of National Currency & Large-Size Type Notes! E-mail: wymoney@aol.com Call 1-800-327-5010 for a Free Catalog or write 4:Ma''141t1:3, *f*Walrk...i45;„ PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 203 I I I I I L STOCKS & BONDS I BSS MONTHLY MAIL SPMC PCDA BID SALES ASCC RR's, Mining, Banking, etc. etc. Something For Everyone FREE LISTING RICHARD T. HOOBER, JR. P.O. Box 3116, Key Largo, FL 33037 Phone or Fax (305) 853-0105 I I I I I r See our website at williamyoungerman.com for over 1,000 Nationals in stock William Youngerman, Inc. Rare Coins & Currency "Since 1967" P.O. Box 177, Boca Raton, FL 33429-0177 Member: PNG, PCDA, ANA, SPMC and others L / t; //, 04. 11. .*-1 PAe,4% ft7 ,E -11111 14, FRAN KLI N BRANC.R.COLUM BUS 204 NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY Figure 5: This earlier design received only a minor facelift in 1861 (see figure 4). note of less than $5. He had obviously discovered that the green ink was just as tough on pen nibs as it was on steel printing plates! This situation apparently became intolerable very quickly as a second letter, dated May 23, 1861, indi- cates: Office of the State Bank of Ohio Columbus May 23rd 1861 Robert Draper Esqr Manager Dear Sir, At the session of the Board of Control just held I was requested to ask you to dis- continue the use of the green tint on all our notes. The members do not like it. Yours truly, J. Andrews Prest. While we do not have the benefit of seeing Mr. Draper's correspon- dence in reply, one last letter, dated July 4, 1861, sums up the situation: Office of the State Bank of Ohio Columbus July 4th 1861 Robert Draper Esqr Manager Dear Sir, I have your favor of the 2nd Inst. also the proof sheets by express. My letter of May 23rd was written after having the views of the members of the Board of Control among whom the opinion was very general that they preferred the red tint and wished it on all the bills. They think the S. Bk. of Ohio is identified by the red and that the advantages of retaining it on all the notes are greater than any that would result from a change. Mr. Finn's experience in signing on the green tint is that it will use up two gold pens* every 1000 sheets and 30 steel pens for every 1000. But the great objec- tion is want of uniformhy in the signature which changes every few signatures. This may be no serious objection with a single Bank of small circulation but when it applies to 36 Banks it is another matter. Yours- truly, J. Andrews Prest. It appears that the Board of Control was never totally comfortable with using the green tint and used this problem as the opportunity to go back to the more familiar red version. The State Bank of Ohio received very good prices. The total price for 4,000 notes with red and black faces and red backs was $65 plus $11.25 for paper, or just over 1.9 cents per note. The bank's $3s were an even better buy at just under 1.7 cents per note. This slight difference was due to the fact that the protectors on the $3 were typographically done. No reason is known for why this was done, other than perhaps the $3 was not expected to have signifi- cant demand and thus was redone cost-effectively. It is further agreed that payments shall be made to said American Bank Note WANTED 12 BIRTH YEAR $1 F.R. RADAR NOTES Must be CU. Paying $20 plus $3 P/I each Bruce E. Keener 3435 E. Prospect Road York, PA 17402-8685 1890; 1903; 1926; 1927; 1930; 1932 1935; 1954; 1956; 1964; 1978; 1981 TAtias6009"711.;444 THE CAMP Mil 1-:1 ' CAMP Hill. ,,,SiLYAMIA PAPER MONEY • NOVEMBEER/DECEMBER 2000 • Whole No. 210 205 Nominations Open for SPMC Board The following SPMC Governors' terms expire in 2001: Fred Reed, Bob Schreiner, Steve Whitfield, and -Wendell Wolka. If you have suggestions for candidates, or if the governors named above wish to run for another term, please notify Nominations Chairman Jimmie Ranes, at P.O. Box 118333, Carrollton, TX 75011-8333. In addition, candidates may be placed on the bal- lot in the following manner: (1) A written nominating petition, signed by 10 current members, is submitted; and (2) An acceptance letter from the person being nominated is submitted with the petition. Nominating petitions (and accompanying letters) must be received by the Nominations Chairman by January 15, 2001. Biographies of the nominees and ballots (if neces- sary) for the election will be included in the March/April 2001 issue of Paper Money. The ballots will be counted at Memphis and announced at the SPMC general meeting held during the International Paper Money Show. First-time nominees should send a portrait and a brief biography to the Editor. 1 i't:e li. zt[Infigi • Delaware Obsolete Bank Notes and Scrip. SPMC state catalog researcher seeks information on existing notes, including serial and plate numbers. Records of other Delaware material such as old lottery tickets, vignettes used on Delaware notes, Colonials and National Currency are also being kept for popula- tion statistics. Will gladly pay any copying costs and postage for pictures of your Delaware material. All contacts will remain confi- dential. Contact napknrng@dmv.com or Terry A. Bryan, 189 South Fairfield Drive, Dover, DE 19901-5756. • Cecil National Bank, Port Deposit MD and National Bank of Elkton MD. Seek illustrations of National Bank Notes signed by E.S.Tome (after 1903, E.S. France) President of these banks from 1898 to 1906 for article in Paper Money. Contact Karl S. Kabelac,105 Raleigh Street, Rochester NY 14620-4121 or kkabela1@rochester.rr.com • Bank of Pennsylvania. Obsolete bank notes, checks, stock cer- tificates and related items. Researcher attempting to document and catalog all items from this bank. I would greatly appreciate photocopies and/or descriptions of any items that you have. I would also appreciate information on officers or stockholders of this bank. All information will be kept in strictest confidence if you desire. Contributors will be sent a copy of my census when I am finished. Write to David Knower, Route 1, Box 218, Ferryville, WI 54628. • Bank of Cape Fear. Author of new book about Bank of Cape Fear, Wilmington, NC, requests information especially photo- copies of the following: (1) fractional currency; (2) $1 and $2 notes, particularly the years of issue, (3) counterfeit and spurious notes, and (4) information about the bank and its leadership from 1820 to 1840. Contact rneale@compuserve.com or Robert S. Neale, P.O. Box. 4232, Wilmington, NC 28406-1232. • New York County and town Civil War bounty bonds information wanted. Also information on railroad and turnpike bonds and financing. Contact donfarr@prodigy.net or Don Farr, 19701 SW 110th Ct #837, Miami, FL 33157. hi. ,,„.„,,,,,(p lb. 1-7 ,111111)(t)rn Buying & Selling National Bank Notes, Uncut Sheets, Proofs, No. 1 Notes, Gold Certificates, Large-Size Type Error Notes, Star Notes. Commercial Coin Co. P.O. Box 607 Camp Hill, PA 17001 Phone 717-737-8981 Life Member ANA 639 206 NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY Company within Sixty days after each semi annual session of the Board of Control. It is fitrther understood & agreed that in case of any violation of this agreement on the part of said American Bank Note Company, of which violations the Executive Committee shall be the sole judges, then the contract on the part of said Bank shall be no longer obligatory & the said American Bank Note Company shall moreover be liable to all damages which may happen on account of violating any of the stipu- lations on their behalf herein contained & for any it or damage which may accrue to said Bank in consequence of the neglect, refusal or omission of Said American Bank Note Company to comply therewith as shall be ascertained & determined by the Executive Committee. Again, the State Bank of Ohio clearly understood and appreciated its bar- gaining position. American Bank Note Company was to be paid only twice a year and the State Bank of Ohio was to be the sole judge of whether or not contract terms had been violated. Moreover, American Bank Note was con- tractually held liable for any damages resulting from non-performance. Fortunately, none of these provisions ever had to be enforced during the life of the contract. It is further understood that when required & ordered by the President of said Bank, the steel Bank Note plates are to be destroyed in such manner as he shall direct. This final provision of the contract was fulfilled in May 1865 when President Andrews ordered that the plates held by American Bank Note Co. be defaced and returned to Columbus. The previous November, the branches had been instructed to not issue any new notes and to start withdrawing notes from circulation as they were presented for redemption. In practice, this approach had already been going on for some time prior to the official orders that were given in November 1864. In Conclusion So there you have it; a rare insight into the specifics of how business was conducted at the dawn of the Civil War. I suspect that the bank note compa- nies had a much better bargaining position with smaller banks, but when this much business was at stake, well, the customer was king! I would like to thank the reference staff of the Ohio State Archives for their assistance and patience while helping me rediscover the documentary his- tory of the State Bank of Ohio in the stacks at the Ohio Historical Society in Columbus. I would also like to thank Walter Allan and Mark Tomasko for their invaluable assistance in identifying and confirming several of the portrait subjects. Figure 6: The $5, which was produced between 1861 and 1863, likewise saw only minor changes and the addition of red protectors. Today, this extremely rare note, which saw just under 32,000 notes issued, is represented by three surviving specimens. The illustrated note is similar to the later ABNCo. ver- sion. The portraits are believed to be those of Governor Reuben Wood (left) and Alfred Kelley (right). On the redesigned version these portraits were reversed (Kelley, left; and Wood, right). Checks, Checks, Checks! Add to your check collection Acquire collateral material for your National collection Revenue Stamps 86 Imprints Thousands of Checks ..,,,, /.,.. y,./.. .r.,thffJiihyil lgok3iia.4.■ 1 Iinl . Ili:;•••7 (,5 it, Ail 2.,1 •,1 i „...,.._....4.1z.„.. ... .-._ ri h . !":..-..• .. . ,r 4irs, l r .vac, /h.. _ -). _./, //W.', 1 ■ We also have Stocks, Bonds and Mylarni Albums and Sleeves Write, call or fax for free catalog today. Your Complete Satisfaction Guaranteed OREGON PAPER MONEY EXCHANGE 6802 SW 33RD Pl. Portland, OR 97219 503-245-3659 Fax 503-244-2977 Civil War Encased Stamps 11,,,r. Thr.mo, By Fred L. Reed III, NLG Five percent of sales price will be donated to SPMC's George Wait Memorial Prize fund PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 207 WANTED: NATIONAL BANK NOTES Buying and Selling Nationals from all states. Price lists are not available. Please send your want list. Paying collector prices for better California notes! WILLIAM LITT P.O. BOX 1161 Fremont, California 94538 (510) 490-1751 Fax: 9510) 490-1753 E-mail: BillLittgaol.com Member SPMC, PCDA, ANA rPaid Advertisement • Paid Advertisement • Paid Advertisement • Paid Advertisement • Paid Advertisement WORLD-CLASS • MUSEUM QUALITY Civil War Encased Stamps Association Items Finest Collection of Its Kind Ever Assembled NOW YOU CAN OWN THE ONE-OF-A-KIND COLLECTION Illustrated in My Award-Winning Book That Took Me 30 Years to Assemble • Own an Instant Exhibit Winner FOR SALE: $111,999 99 INCLUDES: 6A,B; 17A; 18A; 20A; 22A; 23A; 27A, B; 28A; 29A; 30C,D; 31A; 32A; 34A; 35A; 36A, B; 37A, D; 39A; 40A; 41A; 42A; 43A, B; 46A; 52A; 56B, C; 60A; 69A, B; 81B; 88B; 91A, B, C; 92A; 93A; 94A, B, C; 95B; 96A; 98A; 100A, B; 101A; 102A; 108A; 109B; 110B; 111A, B; 112A, B; 113A; 114B; 115A, B; 117A, B; 118A; 119A; 121A, B; 122B; 124B; 126A; 132A, B; 133A, B; 134C; 136A; 137A, B; 140A; 144B; 148B; 149A; 153A, B; 154B, C; 156A, B; 157A; 1588, C; 162A; 173A; 176A; 180A; 182A; 190A; 191 A (two spec- imens); 192B; 194A; 196A, B; 197A, B; 198B; 199A; 200B; 201 B; 203A-D; 204A, B; 205A; 206A-C; 208C; 211B; 219A, B; 220A; 221A; 228A; 229A; 231A; 232A, B; 235A; 243B; 256B; 257A, C; 258A, C; 260A, C. E; 261A, C, E; 262E; 263A, C; 264A, B; 266B; 268A-D; 270B; 274A; 275A (3 specimens); 276A; 279B; 280A; 282A; 283D; 286A, B; 288A, B; 295A; 296A; 320A, B; 352A; 354A; 357B; 361 B; 368A, B; 369A, B; 370A (2 known); 374B; 380A; 381B; 382A; 383A, B; 386B; 387B; 389A; 396B; 399A, B; 400B; 401A; 403A; 406A, C; 409A; 412A, B; 413A, C; 417A, B; 418A; 419A; 436B; 440A-C; 442A. Plus N.&G. Taylor rectangular metal store card; additional Ayer's almanacs and trade cards. • •ALSO, HUNDREDS OF UNIQUE PHOTOGRAPHS AVAILABLE PLEASE INQUIRE WITH SASE. • Hey Bibliophiles. Can't afford association collection? Now available: Civil War Encased Stamps -- Limited 1st Edition: This is the original 0 1994 first printing of this award- winning book, which won the SPMC / Bank Note Reporter Nathan Gold and NLG Best Book Awards and six additional national and international awards. This is NOT the green-cover 0 1995 printing (560 pages) which sells nationally for $60, but 428 pages, unbound on oversize antique, cream colored paper with superb illustrations printed by R.R. Donnelley & Co. by Docutech in Houston, Texas. Only five were bound in brown case binding. Two are in the ANA Library. BNR Press owns one. Two are on my Lbookshelf. Only 13 unbound 1st Edition/First Printing copies are available now @ $169 each. Send Check to Fred Reed, P.O. Box 118162, Carrollton, Texas 75011-8162. NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY Great Haul of Coneyman, Forrest Daniel 00 39 205 26 Swindled, F. Daniel 00 39 210 197 The Cops Gave It Back!, illus. Bob Cochran 00 39 205 20 Daniel, Forrest W. Yr. Vol. No. Date The Green Goods Game Allen, Harold Don. A New Counterfeit Note An Unexpected Find of Series 471 MPC Notes, illus. 00 39 208 115 00 39 209 160 A New Counterfeit Note (second article) BANKS AND BANKERS. 00 39 208 115 A Remarkable Record, Bob Cochran About That Federal Check Tax 00 39 205 10 00 39 209 148 About That Federal Check Tax, Forrest W. Daniel, illus. Attempt to Counterfeit U.S. Treasury Drafts 00 39 209 148 00 39 206 42 Betsy Tollefson: National Bank President, illus. Doings After the War Karl S. Kebelac 00 39 208 116 00 39 205 26 Canadian Bankers Solve U.S. Specie Nuisance, illus. Extraordinary Counterfeiting Fred Reed 00 39 209 131 00 39 208 115 Is 0. Potter "Father of the National Banking System"?, Great Haul of Cone) ,man Bob Cochran 00 39 206 46 00 39 205 26 Sneak Thieves Now Work in "Big Money", Swindled 00 39 210 197 Bob Cochran 00 39 205 10 ENCASED POSTAGE STAMPS. Two Cent Tax Starts a Fight, Bob Cochran Canadian Bankers Solve U.S. Specie Nuisance, illus. 00 39 205 10 Fred Reed 00 39 209 131 Benice, Ronald J. ENGRAVERS & ENGRAVING AND PRINTING. Florida's First Civil War Currency: 1861 Essays Bank Note Artists Model Kin, illus. Gene Hessler 00 39 206 35 00 39 207 92 CHECKS. Connecticut Painter Elevates Currency to an Art, illus. About That Federal Check Tax, Forrest W. Daniel Fred Reed. 00 39 205 18 00 39 209 148 CNA Card Depicts Fountain Two Cent Tax Starts a Fight, Bob Cochran 00 39 207 93 00 39 205 I)) Engravers Guild Honors Deborah Alexander Clark, Frank. 00 39 207 82 About Texas Mostly FRACTIONAL CURRENCY. A Colorful Collectible: Disney War Bond Certificates, illus. Fractional Currency Inverts, illus., Tom 0' Mara 00 39 205 22 00 39 208 99 A One-Bit Note form Texas, illus. Goldberg, Stephen M. 00 39 206 58 Did the New York State Militia Issue Notes in the Bronx?, New Volume Catalogs Currency of India, illus. illus. 00 39 205 12 00 39 210 194 Grant, David. President's Column 00 39 205 10 A Nice Vacation Souvenir: A Red Seal #1 Note, illus. 00 39 206 42 00 39 206 48 00 39 207 82 Hessler, Gene. 00 39 208 115 National Bank Circulating Note Essais, illus. 00 39 209 146 00 39 206 44 00 39 210 197 Some Women Who Made a Difference, Part V, illus. Society Members Pen Paper Money Works, Reviewed by 00 39 208 105 Frank Clark & Jerry Remmick Some Women Who Made a Difference, Part VI, illus. 00 39 209 164 00 39 209 138 Type Collectors Need Refunding Certificates The Buck Starts Here 00 39 205 40 American Colleen Graces Irish Republic Notes, illus. Cochran, Bob. 00 39 205 17 Bank Happenings Bank Note Artists Model Kin A 19th Century Expositor Explains Why You Find Hide 00 39 207 92 and Leather Boston Nationals illus. Huntoon, Peter. 00 39 207 80 The paper column, illus. A Remarkable Record Plate Lettering on Large Size National Bank Notes, illus. 00 39 205 10 00 39 210 175 Is 0. Potter "Father of the National Banking System"? Quit Settin' So Much Type, illus. 00 39 206 46 00 39 205 25 Sneak Thieves Now Work in "Big Money' Two Circulated Errors from the Same Sheet - 00 39 205 10 the Improbability of It All!, illus. Two Cent Tax Starts a Fight 00 39 207 83 00 39 205 10 Kebelac, Karl Sanford. The Cops Gave It Back!, illus. Betsy Tollefson: National Bank President, illus. 00 39 205 20 00 39 208 116 CONFEDERATE AND SOUTHERN STATES CURRENCY. Kemp, Charles. Doings After the War, Forrest Daniel Colorado's Gilpin Drafts, illus. 0 39 205 26 00 39 209 149 Florida's First Civil War Currency: 1861 Essays, illus. MILITARY CURRENCY. Ronald J. Benice 00 39 206 35 An Unexpected Find of Series 471 MPC Notes, illus. COUNTERFEIT, ALTERED & SPURIOUS NOTES. Harold Don Allen 00 39 209 160 A New Counterfeit Note, Forrest Daniel NEW LITERATURE. 00 39 208 115 A History of Bermuda and Its Paper Money, 2nd edition, A New Counterfeit Note (second article), Forrest Daniel by Nelson Page Aspen, reviewed by Jerry Remick 00 39 208 115 00 39 209 164 Attempt to Counterfeit U.S. Treasury Drafts, The Bank of Cape Fear of Wilmington, North Carolina, Forrest Daniel 00 39 206 42 by Robert S. Neal, reviewed by Frank Clark Extraordinary Counterfeiting, Forrest Daniel 00 39 209 164 00 39 208 115 The Standard Reference Guide to Indian Paper Money 208 An Index to Paper Money Volume 39, 2000 / Numbers 205 - 210 Compiled by George B. Tremmel PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 209 by Kishore Jhunjhunwalla, reviewed by Frank Clark Money Mart 00 39 205 27 00 39 210 194 00 39 206 59 OBSOLETE NOTES & SCRIP. 00 39 207 91 A One-Bit Note form Texas, illus. Frank Clark 00 39 208 117 00 39 206 58 00 39 209 153 A Primer to Bank of Chattanooga Notes, illus. 00 39 210 199 Dennis Schailuetzel 00 39 207 67 News for Members 00 39 206 58 Colorado's Gilpin Drafts, illus., 00 39 207 90 Charles Kemp 00 39 209 149 New Members 00 39 205 30 Did the New York State Militia Issue Notes in the Bronx?, illus. 00 39 206 62 Stephen Goldberg 00 39 205 12 00 39 207 94 So You Want to Collect Something Different?, illus. 00 39 208 126 Wendell \Volka 00 39 205 3 00 39 209 169 0' Mara, Tom. 00 39 210 210 Fractional Currency Inverts, illus. OMC Statement 00 39 210 209 00 39 208 99 President's Column 00 39 205 10 POSTAL CURRENCY. 00 39 206 42 Type Collectors Need Refunding Certificates, Frank Clark 00 39 207 82 00 39 205 40 00 39 208 115 Reed, Fred. 00 39 209 146 Beware Fake Cutting Errors, illus. 00 39 210 197 00 39 209 162 Research Exchange 00 39 206 62 Canadian Bankers Solve U.S. Specie Nuisance, illus. 00 39 207 90 00 39 209 131 00 39 208 124 Connecticut Painter Elevates Currency to an Art, illus. 00 39 209 160 00 39 205 18 00 39 210 205 Reed, Fred L., III., The Editor's Notebook Society Members Pen Paper Money Works, Reviewed by 00 39 205 30 Frank Clark & Jerry Remmick 00 39 206 62 00 39 209 164 00 39 207 94 SPMC Establishes George W Wait Memorial Prize 00 39 208 126 00 39 209 170 00 39 209 170 SPMC Welcomes 10,000th New Member 00 39 210 210 00 39 208 123 U.S. LARGE-SIZE NOTES. Plate Lettering on Large Size National Bank Notes, illus. Peter Huntoon 00 39 210 175 U.S. NATIONAL BANK NOTES. A 19th Century Expositor Explains Why You Find Hide and Leather Boston Nationals illus., Bob Cochran 00 39 207 80 A Nice Vacation Souvenir: A Red Seal #1 Note, illus., David Grant 00 39 206 48 National Bank Circulating Note Essais, illus., Gene Hessler 00 39 206 44 Plate Lettering on Large Size National Bank Notes, illus. Peter Huntoon 00 39 210 175 Quit Settin' So Much Type, illus. Peter Huntoon 00 39 205 25 U.S. SMALL SIZE NOTES. FEDERAL RESERVE NOTES. Beware Fake Cutting Errors, Fred Reed 00 39 209 162 Two Circulated Errors from the Same Sheet - the Improbability of It All!, illus., Peter Huntoon 00 39 207 83 Wolka, Wendell. How They Did the Deal in 1861 00 39 210 196 So You Want to Collect Something Different?, illus. 00 39 205 ., - 1 - ,,-,, " lit, - '' c?- ,q ;-, t F',- 1 . 1-',_;-.d,. -,.;2 - ° 1.i_,E,ifT,,z; V e:,,,,,,,,._ Fr r!_ ,, .. .7-,,:', T1 R ., ,a,.%lal 'hi ! i i Pi liI' i Pi_ !i!I IN h it il 1111 tToh . till?.. i im !Ili aiti !HI 1111 I-- 'c. :: .-.-= ;,_,-c3 '- z 1 II li -;ti i 1 „ ii i i, i 1)1, r.,; _ ill hli till iliti 11 i E m If I i li 1 1 0-, i i r i 0, t I gm I il e e,._,, .„..,_ ,?,,,,,,,,A , 0 . c ) . . ',--_, 22c =, ,-_-_ _ o „ o 0 0 .o ','.. „ re.:, ,:,-,, ,,, - 0. g " ,,a: .5_,,_ ''' 0,0.r.1 1 Q _0 1 ..IJ i a= i 11 hi of i fI ii !.. ! - 1 i k. tq 1 1t 1 iP ; 1 OA i 1 61d i ,lif !I I' ; 11 ili i 1 I I 1 Iji ! U ' 1 !II i E t til I ',.- , ' t i ir ; i; l , ‘I il l !, i Pi i' 1 1 1el Ili 118 !- ?, i .,1 1z. i .,, ImiOh II; § ii I .011 i a i II !hi .. - ... MI I•1.5IS ME M NM 1 121 Ill - 1 ,I "" ''' i It -,i' o a. i m,i_.. I --` ,g '-u.' i a-,,,1. ;,,° ‘',-, 1 1 ! ' 1,i I ° i ii 1 1 -,I it .11111111: 0 .,1. ii.,IN IP '1 / l id it ; , 1 I it; .11 ' '1 1 1 ; i 1ILI6 II II il. . - l' ';1 M 1I I . ,: 1 h' ,, i i'lJr , 1 ., I ' - 1 P 1 • " Remick, Jerry. Society Members Pen Paper Money Works, Review by Frank Clark and Jerry Remmick 00 39 209 164 Schafluetzel, Dennis. A Primer to Bank of Chattanooga Notes, illus. 00 39 207 67 Tremmel, George B. An Index to Paper Money, Vol. 38, 1999, Nos. 199-204 00 39 207 84 An Index to Paper Money, Vol. 39, 2000, Nos. 205-210 00 39 210 208 SOCIETY OF PAPER MONEY COLLECTORS. 1st Annual George W. Wait Memorial Prize Announcement 00 39 210 190 2000 Annual Meeting 00 39 209 168 2000 Board Meeting 00 39 209 165 Call for Nominations 00 39 210 205 Editor's Notebook 00 39 205 30 00 39 206 62 00 39 207 94 00 39 208 126 00 39 209 170 00 39 210 210 In memoriam: George W. Wait, (Remembrance by Gene Hessler) 00 39 208 126 Letter to the Editor 00 39 209 146 Meet the Candidates 00 3) 207 88 NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY210 NEW MEMBERS MEMBERSHIP DIRECTOR Frank Clark P.O. Box 117060 Carrollton, TX 75011 New Members as of August 31, 2000 10078 Bob Cox, 5557 Cottonport Dr, Brentwood, TN 37027-7635 (C & D, Obsoletes, Imprinted Revenue Paper) 10079 David Lane Billings, II, P.O. Box 1522, Morristown, NJ 07960-1522 (C, Gold Certificates, General) 10080 Matt Jancewicz, 61 W. 5th St, Bayonne, NJ 07002-2410 (C) 10081 Seth Wilson, 5750 N. Camino Esplendora #107, Tucson, AZ 85718 (C, Nationals, Fractionals) 10082 Peter F. O'Connell (C) 10083 Charles R. Pease, Jr., P.O. Box 10130, Prescott, AZ 86304- 0130 (C, U.S. Large and Fractional) 10084 Robert F. Urbank, 2339 Geneva Ave, Glensicle, PA 19038- 4214 (C, Nationals, U.S. Large) 10085 Frank D. Houlihan, 59 Ashumet Ave, Mashpee, MA 02649 (C) 10086 Gaylord Bachelor, P.O. Box 554 Cabool, MO 65689 (C & D, Missouri) 10087 Greg C. Maltese, 26 Le High Ave NE, Edison, NJ 08837 (C) 10088 Victor Adan (C) 10089 Claudio Cepeda, MD, 1210 Summit Crest, San Antonio, TX 78258 (C) 10090 Avram C. Freedberg, do National Collectors Mint, 8 Slater St, Port Chester, NY 10573 (C) 10091 Jeff McGrath, 15 Old Mill Rd, Sanford, ME, 04073 (C, Small Size Nationals) 10092 Donald C. Hand, Jr., 139 Cleveland Rd, Valley, AL 36854 (C) 10093 Thornton G. VanDewalker, 11 Vulcan St, Gunnison, CO 81230 (C) 10094 Charles A. Cast, 3414 Rustling Pines, Spring, TX 77380 (C & D, U.S.) 10095 Cory Johnson, 9900 Richmond Ave #1802, Houston, TX 77042 (C, Large, Small, Obsoletes and Fractional) 10096 James A. Kadin, 112 Estaban Dr, Camarillo, CA 93010 (C, U.S. Large) 10097 Michael Sciarrotta, 21111 Crocus Terrace, Ashburn, VA 20147 (C, U.S. Large, Nationals) 10098 Jeffrey LaGro, P.O. Box 204, Lomita, CA 90717 (C, World - Circulated) 10099 Jeff Andrews, 1249 Buckhead Circle, Birmingham, AL 35216 (C) New Members as of September 25, 2000 10100 David Reese, 1015 County Rd. 1647, Cullman, AL 35058 (C, Obsoletes & CSA) 10101 Stephen Mihm, 624 West 207 Apt. 43, New York, NY 10034- 2634 (C, Antebellum U.S.) 10102 Herbert D. Fisher, 118 Paradise Ln, Ronks, PA 17572 (C, World) 10103 Jerry Sablow, 3150 Mariposa Ave, Palmdale, CA 93551 (C & D, Large & Small U.S.) Life Member LM 328 George Ostermeyer, 17 Glendale Dr, Danbury, CT 06811 (C) formerly 9489 Letter to the Editor As part of the Society's 40th Anniversary celebration, may I sug- gest that the SPMC archive the Journal on a CD (and/or post to your website) and sell that to the members. For maximum efficiency, I would recommend that the first archive-effort be a "visual" one (scan each page as a picture) rather than re-inputting all of the articles (which is preferable, since it allows for copying, pasting, searching, etc.) Since the issues are now produced electronically, you will want to save future issues as text tiles. A searchable Index to back issues would greatly enhance the usefulness of the archive. I would also provide a link for back issues that are still available for sale. Bob Korver SPMC #9948 Life Member Alert ALTHOUGH I HAVE BEEN A PROFESSIONALommunicator for 30 years, my wife says I don't com- municate very well at all. The proof of it is that recently I sent postcards to more than 300 SPMC Life Members ask- ing for their ORIGINAL membership number so I could calculate their seniority for the 40th anniversary commem- orative issue of Paper Money. About 50 of the 320 or so sent me their LM# not their original number. The exercise was necessary because the original membership numbers of Life Members is not still recorded on our rolls. The Secretary was able to ferret out a few numbers, so he asked the Editor to turn to the membership directly. If you are a Life Member of SPMC, please take five minutes and send me your original membership number to the e-mail address at the top of this column (if you haven't done so already). Alternately, you can snail mail it to me at the address on page 174 of this issue. We don't want you to be overlooked when we recognize senior members, and we also would like to restore this information to our rolls, too. Please don't assume we have your original number already. George W Wait Memorial Prize On Page 190 you can read the details on the Society's newest award, a monetary prize to assist researchers in developing new paper money reference books for us all to enjoy. SPMC's Charter commits us to furthering such research, and Society Board Members approved $500 for the initial award (entries close on March 15). However, the membership can ratify the Board's decision by making special contributions to the Wait Memorial Fund, too. These contributions will increase the ante and thus the incentive to bring new references into print. As you con- sider your year-end gift giving, you might want to desig- nate some dollars to this very worthy effort, or to the Society's Publication Fund in general. Check off lines for either gift are printed on your annual dues envelope which was included in the September/October issue. Your gifts are fully tax deductible since SPMC is a 501-C(3) non- profit organization. Thanks for your generosity. Last Call Another worthwhile opportunity to participate in SPMC affairs is to purchase a special commemorative ad in the forthcoming 40th Anniversary issue. Details are on Page 191. But Hurry. Space is almost gone. Don't miss out on this one. You'll kick yourself for the next 40 years! Nobody pays more than Huntoon for ARIZONA & WYOMING state and territorial Nationals Peter Huntoon P.O. Box 60850 Boulder City, NV 89006 702-294-4143 MYLAR D CURRENCY HOLDERS PRICED AS FOLLOWS BANK NOTE AND CHECK HOLDERS SIZE INCHES 50 100 500 1000 Fractional 4 3/4 x 3 3/4 $17.75 $32.50 $147.00 $255.00 Colonial 5 1/2 x 3 18.75 35.00 159.00 295.00 Small Currency x 2'/8 19.00 36.50 163.00 305.00 Large Currency 7 1 /8 x 3 V.2 23.00 42.50 195.00 365.00 Auction 9 x 3 3/4 26.75 50.00 243.00 439.00 Foreign Currency 8 x 5 30.00 56.00 256.00 460.00 Checks 9 5/8 x 4 1/4 28.25 52.50 240.00 444.00 SHEET HOLDERS SIZE INCHES 10 50 100 250 Obsolete Sheet End Open 8 3/4 x 14 1/2 $13.00 $60.00 $100.00 $230.00 National Sheet Side Open 81/2 x 17 '/2 25.00 100.00 180.00 425.00 Stock Certificate End Open 91/2 x 12 1/2 12.50 57.50 95.00 212.50 Map & Bond Size End Open 18 x 24 48.00 225.00 370.00 850.00 You may assort note holders for best price (min. 50 pcs. one size). You may assort sheet holders for best price (min. 5 pcs. one size) (min. 10 pcs. total). SHIPPING IN THE U.S. (PARCEL POST) FREE OF CHARGE Mylar Dx is a Registered Trademark of the Dupont Corporation. This also applies to uncoated archival quality Mylar ,' Type D by the Dupont Corp. or the equivalent material by ICI Industries Corp. Melinex Type 516. DENLY'S OF BOSTON P.O. Box 1010, Boston, MA 02205 • 617-482-8477 ORDERS ONLY: 800-HI-DENLY • FAX 617-357-8163 AD INDEX BOMBARA, CARL 199 BOWERS & MERENA GALLERIES IBC BUCKMAN, N.B 199 COMMERCIAL COIN CO. 205 CURRENCY AUCTION.COM 212 DENLY'S OF BOSTON 211 EARLY AMERICAN NUMISMATICS 201 HOOBER, RICHARD T 203 HORDWEDEL, LOWELL C 211 HUNTOON, PETER 211 JONES, HARRY 199 KAGIN, A.M 187 ASPEN, NELSON PAGE 189 KNIGHT, LYN 145 KRAUSE PUBLICATIONS OBC KYZIVAT, TIM 203 LITT, WILLIAM 207 LITTLETON COIN CO. 195 MORYCZ, STANLEY 181 AMERICAN SOCIETY/CHECK COLLECTORS .. 153 OREGON PAPER MONEY EXCHANGE 207 PARRISH, CHARLES C. 201 POMEX, STEVE 199 ROB'S COINS & CURRENCY 185 REED, FRED 207 SHULL, HUGH 174 SLUSZKIEWICZ, TOM 203 SMYTHE, R.M IFC STACK'S 192-193 WRIGHT, GLENN G. 201 YOUNGERMAN, WILLIAM, INC. 203 BUYING AND SELLING PAPER MONEY U.S., All types Thousands of Nationals, Large and Small, Silver Certificates, U.S. Notes, Gold Certificates, Treasury Notes, Federal Reserve Notes, Fractional, Continental, Colonial, Obsoletes, Depression Scrip, Checks, Stocks, etc. Foreign Notes from over 250 Countries Paper Money Books and Supplies Send us your Want List ... or ... Ship your material for a fair offer LOWELL C. HORWEDEL P.O. BOX 2395 WEST LAFAYETTE, IN 47996 SPMC #2907 (765) 583-2748 ANA LM #1503 PAPER MONEY • NOVEMBER/DECEMBER 2000 • Whole No. 210 211 si-LtsuiriN ir.It aft fp; • ti,4110. ,OBO >50 a . M 717V0,1144 212 NOVEMBER/DECEMBER 2000 • Whole No. 210 • PAPER MONEY www.HeritageCoin.com • www.CurrencyAuction.com NO BUYER'S FEE! SALES CLOSE THE 15TH & 30TH OF EVERY MONTH , # rU3 14 I .. fiiii t.,1 _.t _ Hon! Hughes, at Ext 283 (holli©currencyauction.corn) ii AMERICA'S CONVENTION AUCTIONEER ERITAGE NUMISMATIC AUCTIONS, INC. Dustin Johnston, at Ext. 302 (djohnston@heritagecoin.com ) NorE. rms 10111 Contact us today 1-800-US COINS 24-hour voice mail available at all extensions Slave Ivy Jim Halperin Greg Rohan Heritage Plaza, 100 Highland Park Village, 2nd Floor • Dallas, Texas 75205-2788 1-800-US COINS (872-6467) • 214-528-3500 • FAX: 214-443-8425 www.HeritageCoin.com • e-mail: bids@heritagecoin.com wmv.CurrencyAuction.com • e-mail: notes@currencyauction.com A $5 Federal Reserve Bank note. F-782* in EF realized $7,150. A $100 One-Year Note, believed to be unique, realized $8,250. Sloniteall NalIlona!. Hal ealize Top Market Price for Your Paper Money! The currency market is hot! In recent months we have seen a tremendous amount of buying activity and invite you to jump on the bandwagon. Consider selling your important notes and currency items in one of our upcoming auctions to be held in New York City or in conjunction with the Suburban Washington/Baltimore Convention. The same bidders who helped set world record prices in our recent sales will compete for your currency items as well. Call Q. David Bowers, Chairman of the Board, or John Pack, Auction Manager, at 1-800-458-4646 to reserve a space for your material. We can even provide a cash advance if you desire. It may be the most financially rewarding decision you have ever made. A cut sheet of four $10 Legal Tender notes. F-123 in Average New to Choice New realized $17,600. A $10 Silver Certificate. F-1700 in Gem New realized $8,800. An Interest Bearing $5,000 Proof Note realized $11,000. An Uncirculated Lazy Two $2 note from the State of Missouri, Town of California realized $4,840.Auctions by Bowers and Merena, Inc. Box 1224 • Wolfeboro, NH 03894 • 800-458-4646 • FAX: 603-569-5319 • www.bowersandmerena.com :tutors. Sthrditieh19th edition STANDARD CATALOG OF Ur)ited Stares Paper Mopey By Chester L. Krause and Robert F. Lemke Joel T. Edler, Editor RLD pApEa mstandard catalog ofwo Y ootuoto two general nailer Edited by Neil Shafer & Colin R. Brute 11 10770 p,n , hf■q, -/.9S2 NATIONAL SANK NOTES • LARGE & SMALL SIZE BY SERIES • FRACTIONAL CURRENCY • ERROR NOTES • M.P.G. • POSTAGE STAMP ENVELOPES * ENCASED POSTAGE •PHILIPPINE ISLANDS COMMONWEALTH ISSUES Ne• PRE-CIVIL WAR U.S. NOTES • GUIDE TO AUTHENTIL Edit i( • 2.3RisNit IAinat p SO0 norm It Mot in op to three grades 9 Standard Catalog TM of United States Paper Money 19th Edition by Chester L. Krause and Robert F. Lemke, Joel T. Edler, Editor This is the essential price guide you'll need for collecting the various forms of U.S. printed currency issued during the past 188 years. Small notes, large notes, national bank notes, U.S. Treasury notes, Civil War substitutions, postage stamp envelopes, error notes and more are all cataloged. Categories are listed by denomination rather than obligation for easier identification. More than 5,500 currency items are fully updated with 14,000+ valuations. Hardcover • 8-1/2 x 11 • 216 pages 600 b&w photos Item# SP19 • $29.95 Standard Catalog TM of World Paper Money, General Issues Volume II, 9th Edition edited by Colin R. Bruce II and Neil Shafer This is the world's most comprehensive world paper money price guide and reference. The new 9th Edition includes 19,000+ listings of paper money circulating worldwide from 1650 through 1960 in three grades of condition and well over 50,000 up-to-date prices that reflect recent market activity. Introductory chapters are updated. An Exotic Language Photo Identification Guide is new to this edition and many photos are incorporated throughout. Softcover • 8-1/2 x 11 • 1,144 pages 5,200+ b&w photos Item# PIV109 • $65.00 To receive a FREE all-products catalog or to place a credit card order, Call 800-258-0929 Offer N89S Mon-Fri, 7 a.m. - 8 p.m. • Sat, 8 a.m. - 2 p.m., CST Mail to: Krause Publications, Offer N89S PO Box 5009 Iola, WI 54945-5009 Or visit and order from our secure web site: www.krausebooks.com Dealers can call toll-free 888-457-2873 ext 880, Mon-Fri 8 a.m. - 5 p.m. Shipping and Handling: $3.25 1st book; $2 ea. addl. Foreign orders $15 per shipment plus S5.95 per book. Sales tax: CA, IA, IL, PA, TN, VA, WA, WI residents please add appropriate sales tax. SATISFACTION GUARANTEE If for any reason you are not completely satisfied with your purchase, simply return it within 14 days and receive a full refund, less shipping.