Paper Money - Vol. XXXVI, No. 6 - Whole No. 192 - November - December 1997

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4:e •• •• ••• VOL. XXXVI No. 6 WHOLE No. 192 "4741 4 . 51. v 47,2:?=WIP' • NOV / DEC 1997 300„,. /13. AO. THE STATE OF FLORWA DOLLARS. 1. /i//, • 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 collection 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 mis-grade 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 o showcase your better single items, or your entire collection, in the next R. M. Smythe auction. 1997 -1998 Auction Schedule December 11, 1997. Coins, Tokens, Medals and Related Items. Accepting consignments through November 1, 1997. January 23-24, 1998. Stocks, Bonds and Related Items. Official Auctioneers for the Eleventh Annual Strasburg Stock and Bond Show. Accepting consignments through December 8, 1997. February 21, 1998. Currency, Stocks & Bonds. Official Auctioneers for the Chicago Paper Money Exchange. Accepting consignments through January 5, 1998. June 19-20, 1998. Paper Money, Stocks & Bonds. Official Auctioneers for the Memphis International Paper Money Show & Auction. Accepting consignments through May 5, 1998. To Consign, please call Stephen Goldsmith at 800-622-1880 or 212-943-1880. 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 or Mary Herzog at 800-622-1880 or 212-943-1880. A one year subscription to all RMS catalogues is $70 ($100 overseas). Other subscription plans are available. Call today. See Us At Close To 40 Shows This Year! We will be planning to attend almost every major numismatic show, represented by Stephen Goldsmith, Lucien Birkler, Bruce Hagen, Dr. Douglas Ball or Martin Gengerke. If necessary, we will travel to see your collection. Call 800-622-1880 for further information. Stephen Goldsmith Bruce Hagen members 4:-slow 40, MEMBER 26 Broadway, Suite 271, New York, NY 10004-1701 AN INDEX TO PAPER MONEY VOLUME 26, 1997 Nos. 187-192 Ellenbogen, Raphael The celebrated Naramore bank note detector cards, illus. The royal family of small-size currency errors, illus. ENGRAVERS & ENGRAVING A review of the work of John S. Wallace, illus. Mark D. Tomasko Fisher, Jack H. The First National Banks of Paxton, Illinois and Sir William Paxton, illus Gardner, Tom A sentimental bank note A story teller's bank note, illus. Gladfelter, D. and S. Dewey Bergen Iron Works scrip, illus. Hessler, Gene A cinematic short snorter, illus. Bank note subjects as models for apprentice engravers, illus. The buck starts here, a primer for collectors, illus. Hussein, Mohamad H. Birds on world paper money, illus. The petroleum industry illustrated on world paper money, illus. Huntoon, Peter The paper column, illus. Corrections for No. 187 30 years of looking pays off. $2 legal tender Series of 1928C and Series of 1928D BA block non-mules U. S small-size $5 mules Where are the Paia territory of Hawaii nationals? Kelly, Don C. Hawaii's national banks, illus. Kvederas, Bob Sr. & Jr. Varieties of Series 1993 $ 1 web notes Lloyd, Robert H. Jerg Gisze, illus. Syngraphic vignettes Hoards! I 123 Hoards! II 191 Hoards! III McDannel, Ken 80 National bank notes series 1929 National bank notes Series 1929, supplement XX, illus., Frank Bennett NEW LITERATURE National hank notes, a guide with prices, 3 Don C. Kelly No. Page Anschuetz, Robert R. II Carmi A. Thompson signature notes, illus. . . 190 115 Bennett, Frank National bank notes Series 1929, supple- ment XX 191 143 Bolduc, Bob Currency and computers 189 89 Bonneau, Pierre Scripophily corner, illus. 189 83 192 193 Clark, Frank About Texas mostly, illus. A.R. Davis: Garland, Texas banker 191 141 Samuel J. Moore and Canadian bank notes 187 6 The Farmers National Bank of Hillsboro, Texas 189 78 The First National Bank in Cooper, Texas 190 119 The National banks in Plano, Texas 188 43 Cochran, Bob A backed-up buck from the Huntsville Hotel Company, illus. 187 13 Bank happenings 191 165 May I see some identification, please? 192 197 None outstanding all redeemed, not so!, illus. 191 161 "Oh, is that what that means?", illus. 189 78 SPMC's 1929-1935 overprinted national currency project 189 72 The basics 189 70 COLONIAL & CONTINENTAL CURRENCY Bonanza at the flea market, illus. Ned W. Downing 187 3 CONFEDERATE The Confederate Indian princess counterfeit illus. George B. Tremmel 188 35 The last bond of the lost cause, illus. John Martin Davis, Jr. 190 123 The last bond of the lost cause (addendum) John Martin Davis, Jr. 192 191 Daniel, Forrest W. Green goods game, illus. 187 5 Money tales 187 14 191 162 State bank notes redeemed by national banks, illus. 189 67 When the nation's cash was counted, illus. 191 139 Davis, John Martin, Jr. The last bond of the lost cause, illus. 190 The last bond of the lost cause (addendum) 192 Dean, Charles A. The First National Bank of Cardiff, illus. 189 The First National Bank of Smyrna, Tennessee and John Norman Barnett, illus. 191 151 Dewey, W.S. and D.D. Gladfelter Bergen Iron Works scrip, illus. 189 73 Downing, Ned W. Bonanza at the flea market, illus. 187 No. Page 187 15 189 79 190 107 190 122 191 155 187 20 189 73 191 164 189 84 187 21 189 93 191 163 192 196 188 38 191 156 188 47 188 47 187 7 192 179 189 69 189 45 191 160 192 197 188 37 189 91 190 127 189 69 191 143 190 114 189 91 189 92 No. Page Paper money of Serbia and Yugoslavia, Zeljko Stojanovic 189 92 The comprehensive catalog of U.S. paper money, Gene Hessler 189 92 OBSOLETE NOTES & SCRIP Bergen Iron Works scrip, illus., D.D. Gladfelter W. S. Dewey 189 73 Real, Joaquin Gil del Real The first bank in Panama, illus. 188 48 Schein, Howard Ordering uncut sheets in 1951, illus. 189 90 Schmidt, Bob Missouri road overseer's certificate, illus 188 51 SOCIETY OF PAPER MONEY COLLECTORS Annual awards descriptions 188 52 Candidates for the SPMC board of governors 188 53 In memoriam David Ray Arnold 189 94 George D. Hatie 191 168 H.C. Johnson 192 199 New members 187 24 188 53 189 95 190 128 President's column 187 22 STOCK CERTIFICATES & BONDS A bonanza at the flea market, illus. Ned W. Downing 187 3 See The Scripophily Corner Stratton, Mike Modern mules, illus. 190 120 Tomasko, Mark D. A review of the work of John S Wallace, illus 190 107 U. S. LARGE-SIZE NOTES See Syngraphic Vignettes Carmi A. Thompson signature notes, illus. Robert R. Anschuetz II 190 115 No. Page U.S. NATIONAL BANK NOTES Carmi A. Thompson signature notes, illus. Robert R. Anschuetz II 190 115 Hawaii's national banks, illus. Don C. Kelly 188 45 National bank notes series 1929, Ken McDannel 189 69 190 114 National bank notes Series 1929, supplement XX, illus. 191 143 None outstanding all redeemed, not so!, illus., Bob Cochran 191 161 See About Texas Mostly, Frank Clark See The Paper Column, Peter Huntoon State bank notes redeemed by national banks, illus., Forrest W. Daniel. 189 67 The First National Bank of Cardiff, Charles A. Dean 189 80 U.S. SMALL-SIZE NOTES 30 years of looking pays off, illus. Peter Huntoon 188 47 Modern mules, illus. Mike Stratton 190 120 $2 legal tender series of 1928C & series of 1928D BA block non-mules, illus., Peter Huntoon 187 7 Varieties of Series 1993 $1 web notes, illus. Bob Kvederas Sr. & Jr. 191 160 WORLD PAPER MONEY Bank notes subjects as models for apprentice engravers, illus., G. Hessler 189 84 Birds on world paper money, illus. Mohamad H. Hussein 188 38 The first bank in Panama, illus. Joaquin Gil del Real 188 48 The petroleum industry illustrated on world paper money, illus. Mohamad H. Hussein . . . 191 156 Informatio El for Authors (in addition to what is on the first page of every journal) Sources should be listed as follows: Haxby, J. (1988). Standard catalog of United States obsolete Bank notes. Vols. . Iola, WI: Krause Pub. History of the Bureau of Engraving and Printing 1862-1962. (1964). Washington, DC: U.S. Treasury Department. Huntoon, P. (1988). The earliest national bank title changes. PAPER MONEY. 27, 103-114. Morris, T.R.; B.R. Mueller. (Ed.). (1968). The life and works of Thomas F. Morris 1852-1989. Published by the author. In place of footnotes put the author's name and page refer- ence in parentheses, e.g. (Huntoon 68) at the appropriate place. If there is more than one author reference for the same year, add the date and vol. (in ital.), e.g. (Huntoon 1988, 27, 105). If an author is not listed, use an identifying word from the title, e.g., (History 60). If additional or extensive reference data is necessary, use endnotes with corresponding numbers rather than the pre- ceding. Manuscript and abstract references will be rearranged only if necessary. Authors may send biographies (100 words minimum) empha- sizing hobby-related information. Articles will be published as soon as possible: please be patient. SOCIETY OF PAPER MONEY COLLECTORS INC. PAPER MONEY is published every other month beginning in January by The Society of Paper Money Collectors. Second class postage paid at Dover, DE 19901. Postmaster send address changes to: Bob Cochran, Secretary, P.O. Box 1085, Florissant, MO 63031. Society of Paper Money Collectors, Inc., 1997. All rights reserved. Reproduction of any article, in whole or in part, without express written permission, is prohibited Individual copies of this issue of PAPER MONEY are available from the Secretary for $2.75 each plus $1 postage. five or more copies are sent postage free. ADVERTISING RATES SPACE 1 TIME 3 TIMES 6 TIMES Outside Back Cover $152 $420 $825 Inside Front & Back Cover $145 $405 $798 Full Page $140 $395 $775 Half-page $75 $200 $390 Quarter-page $38 $105 $198 Eighth-page $20 $55 $105 To keep rates at a minimum, advertising must be prepaid in advance according to the above sched- ule. In exceptional cases where special artwork or extra typing are required, the advertiser will be notified and billed extra for them accordingly. Rates are not commissionable. Proofs are not supplied. Deadline: Copy must be in the editorial office no later than the 1st of the month preceding issue (e.g., Feb. 1 for March/April issue). With advance notice, camera-ready copy will be ac- cepted up to three weeks later. Mechanical Requirements: Full page 42-57 pi- cas; half-page may be either vertical or horizon- tal in format. Single column width, 20 picas. Halftones acceptable, but not mats or stereos. Page position may be requested but cannot be guaranteed. Advertising copy shall be restricted to paper currency and allied numismatic material and publications and accessories related thereto. SPMC does not guarantee advertisements but accepts copy in good faith, reserving the right to reject objectionable material or edit any copy. SPMC assumes no financial responsibility for typographical errors in advertisements, but agrees to reprint that portion of an advertisement in which typographical error should occur upon prompt notification of such error. All advertising copy and correspondence should be sent to the Editor. Paper Money Whole No. 192 Page 177 Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XXXVI No. 6 Whole No. 192 NOV/DEC 1997 ISSN 0031-1162 GENE HESSLER, Editor, P.O. Box 31144, Cincinnati, OH 45231 Manuscripts (ntss), not under consideration elsewhere, and publications for review should be sent to the Editor. Accepted ,/iss will be published as soon as possible; however, publication in a specific issue cannot be guaranteed. Opinions expressed by authors do not necessarily reflect those of the SPMC. Mss are to be typed on one side only, double-spaced with at least one-inch margins. A copy should be retained by the author. The author's name, address and telephone number should appear on the first page. In addition, although it is not required, you are encouraged to submit a copy on a 3 1/2 or 5 ,1/4 inch MS DOS disk, identified with the name and version of software used: Microsoft Word, Word Perfect or text (ASCII), etc. If disk is submitted, double-spaced printout must accompany disk. IN THIS ISSUE THE PAPER COLUMN U.S. SMALL-SIZE $5 MULES Peter Huntoon 179 THE LAST BOND OF THE LAST CAUSE (ADDENDUM) John Martin Davis, Jr. 191 ABOUT TEXAS MOSTLY THE STORY OF THE STORE SCRIP OF JAMES M. SMOOT OF DENTON, TEXAS Frank Clark 192 THE SCRIPOPHILY CORNER Pierre Bonneau 193 THE BUCK STARTS HERE Gene Hessler 196 JERG GISZE Robert Lloyd 197 MAY I SEE SOME IDENTIFICATION, PLEASE? Bob Cochran 197 SOCIETY FEATURES THE PRESIDENTS COLUMN 198 CALL FOR NOMINATIONS 198 AWARDS AT THE 1997 NEW YORK ANA 198 IN MEMORIAM: H.C. JOHNSON 199 NEW MEMBERS 199 MONEY MART 200 For change of address, inquiries concerning non -delivery of PAPER MONEY and for additional copies of this issue contact the Secretary; the address is on the next page. For earlier issues contact Classic Coins, P.O. Box 95, Allen, MI 49227. ON THE COVER. This is the 55th anniversary of the awarding of the Nobel Peace Prize to explorer, humanitarian, scientist and statesman Fridjof Nansen. The portrait appears on the 10 kroner note from Norway, 1972-1984. Page 178 Paper Money Whole No. 192 SOCIETY OF PAPER MONEY COLLECTORS COORDINATOR: 1929-1935 OVERPRINTED NATIONAL CURRENCY PROJECT FRANK BENNE1T, P.O. Box 8722, Port St. Lucie, FL 34885 BOARD OF GOVERNORS RAPHAEL ELLENBOGEN, 1840 Harwitch Rd., Upper Arlington, OH 43221 GENE HESSLER, P.O. Box 31144, Cincinnati, OH 45231 RON HORSTMAN, 5010 Timber Lane, Gerald, MO 63037 MILTON R. FRIEDBERG, 8803 Brecksville Rd. #7-203, Brecksville, OH 44141-1933 JUDITH MURPHY, P.O. Box 24056, Winston Salem, NC 27114 STEPHEN TAYLOR, 70 West View Avenue, Dover, DE 19901 WENDELL W. WOLKA, P.O. Box 569, Dublin, OH 43017 STEVEN K. WHITFIELD, 14092 W. 115th St., Olathe, KS 66062 OFFICERS PRESIDENT ROBERT COCHRAN, P.O. Box 1085, Florissant, MO 63031 VICE-PRESIDENT FRANK CLARK, P.O. Box 117060, Carrollton, TX 75011 SECRETARY TO BE APPOINTED. TREASURER MARK ANDERSON, 400 Court St., #1, Brooklyn, NY 11231 APPOINTEES EDITOR GENE HESSLER, P.O. Box 31144, Cincinnati, OH 45231 MEMBERSHIP DIRECTOR FRANK CLARK, P.O. Box 117060, Carrollton, TX 75011 WISMER BOOK PROJECT STEVEN K. WHITFIELD, 14092 W. 115th St., Olathe, KS 66062 LEGAL COUNSEL ROBERT J. GALIETTE, 3 Teal Lane, Essex, CT 06246 LIBRARIAN ROGER H. DURAND, P.O. Box 186, Rehoboth, MA 02769 PAST-PRESIDENT DEAN OAKES, Drawer 1456, Iowa City, IA 52240 The Society of Paper Money Collectors was organized in 1961 and incorporated in 1964 as a non-profit or- ganization under the laws of the District of Columbia. It is affiliated with the American Numismatic Associa- tion. The annual meeting is held at the Memphis IPMS in June. MEMBERSHIP—REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral character. JUNIOR. Applicants must be from 12 to 18 years of age and of good moral character. Their application must be signed by a parent or guardian. They will be preceded by the letter "j". This letter will be removed upon notifica- tion to the secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or vote. Members of the ANA or other recognized numismatic societies are eligible for membership. Other applicants should be sponsored by an SMPC member or provide suitable references. DUES—Annual dues are $24. Members in Canada and Mexico should add $5 to cover additional postage; members throughout the rest of the world add $10. Life membership, payable in installments within one year, is $500. Members who join the Society prior to Oct. 1st receive the magazines already issued in the year in which they join. Members who join after Oct. 1st will have their dues paid through December of the following year. They will also receive, as a bonus, a copy of the magazine issued in November of the year in which they joined. BUYING and SELLING CSA and Obsolete Notes CSA Bonds, Stocks & Financial Items 60-Page Catalog for $5.00 Refundable With Order HUGH SHULL ANA-LM SCNA PCDA CHARTER MBR. P.O. Box 761, Camden, SC 29020 (803) 432-8500 FAX 803-432-9958 SPMC-LM 6 BRNA FUN Paper Money Whole No. 192 Page 179 U.S. Small-Size S5 Mules ABSTRACT Mules in the $5 denomination offer the sophisticated U.S. small-size note specialist the most challenging of all the mule varieties to collect. There are two major groups of $5 mules, ordinary mules that were produced during the micro to macro transition period and extraordinary mules that were produced from two unusual micro back plates-629 and 637. Ordinary $5 silver certificate (SC) and legal tender (LT) back and face mule production spanned the period January 10, 1938 to February 14, 1940. Ordinary Federal Reserve note (FRN) mule production took place between July 31, 1941 and Janu- ary 23, 1946. The delay in the FRN printings resulted because there was no $5 FRN production between May 19, 1937 and July 11, 1941. The extraordinary $5 mule printings from micro back 637 occurred between June 23, 1945 and June 15, 1949; whereas those involving 629 lasted only from November 17, 1947 to February 2, 1948. The 637 and 629 printings involved SC, LT and FRN production. When micro back 637 finally was taken out of service in 1949 more than eleven years had elapsed since introduction of the macro size plate numbers. MULES HE classical definition of a mule is a note that has a mirco-size plate number on one side and a macro-size plate number on the other. Micro numbers measure 0.6 mm high whereas the macro numbers are 1 mm high. (See Figure 1.) The first macro plate to go to press was the number 1 Series of 1935A $1 silver certificate face on January 6, 1938. The first $1 macro back, plate 930, went to press three weeks later on January 28. Consequently, the first of the 1935A faces were mated with micro backs, producing mules. The first $5 macro face plates went to press on January 10, 1938. These were Se- ries of 1934A SC plates 562, 563 and 564, and production from them was mated with micro backs resulting in the first $5 mules of any type. The $1 1935A SC sheets were competing with $5 1934A SCs for the distinction of being the first mules to be serial num- bered. The $5s won. The first mule to be numbered was a $5 1934A SC bearing D50352001A on January 25, 1938. The first $1 1935A SC mule, M07668001 A, was numbered the next day. The first muled star note was printed two days later on Janu- ary 28, a $1 1935A with serial *17076001A. Macro plates for the other classes and denominations gradu- ally came on line in succeeding months. Often they were placed on the presses side by side with micros. Figures 2 and 3 illus- trate, and Tables 1 and 2 document, the overlapping usage of plates. Mules flowed for the next 15 years as Bureau of Engrav- ing and Printing employees used up stocks of serviceable 12- subject micro plates. Mules ceased in 1953 when the last of the 12-subject $50 and $100 micro backs used to print Fed- eral Reserve Notes were finally phased out following full con- version to 18-subject presses. To understand mule production, it is important to know the rudiments of the printing process. The backs were printed first, then the faces, and finally the seals and serial numbers. The flat bed presses then in use for back and face production normally carried four 12-subject plates. However, fewer plates could be on a press, even just one. The plates circulated around the bed of the press and pro- duced a stream of sheets in which the plate numbers cycled through the plates present. Both micro and macro plates were commonly mixed on a given press. This was occurring on both T Figure 1. Comparison between micro, intermediate, and macro size plate numbers. the back and face presses during the height of the mule era so as many as four varieties were being printed at once. The 12-subject sheets were cut in half down the middle be- fore the seals and serials were applied. Next the seals and seri- als were printed with numbering advancing consecutively from top to bottom on the six subjects in the half sheets. The notes were then cut apart and stacked in numerical order. it THE PAPER COLUMN by Peter Huntoon HAGAFAEADA D 28B F— —4 28D1-1 1-28E-1 1-28F u) Cr) LU 0 rn cn 03 0 CY ▪ ) "1- AA BA CA DA EAFAGA 1 HA 1IA 1JA 1 KA 111 4 34A 34A 3071-I 34A NORTH AFRICA E- LA MA NA 1 PA 1 QA 1 1 34B1-1 1-34C-1 1-34DU) 629 I I I I • cn LU N Nr) I I I I I I 0 CNI L() 1 f I I co co cn o O) Page 180 Paper Money Whole No. 192 Figure 2. Graph showing the periods of use and overlaps between the serial number block letters, series, varieties, and various design elements on $5 1928 series legal tender notes and 1934 series silver certificates. The serial number block letters are the bold pairs of letters above the bold horizontal bars. 0 •<). r- co 0) r N CO .ct I I I I 1 1 1 1 CO rn.rr I I Jj K { 629 I I Iu--) cocr) I I I I I I I I I I I I I- co a) o — NCO ..y. LO co r--- CO a) 0 ,-.1- ..4- )r)0) a)a) Paper Money Whole No. 192 Page 181 Lo o u-) o co .4- cr u.)a) a) 0) (oV co r- CO 0.3 ._ (NI cr) a CD r-- co a) ,- ,- I I I I I I I I I I I I I I I I I I AA I 0u)0) 34Y I—I B 341 .41114. BA 341 1 34 34B I—I 34B 2121-1 34Y1-1 34Y1-1 H 34I—i 34A1 34B I-1 1 I 34C I-1 34D HA 34 34A 34B I—I 34C I-1 34D BC -00-11 -411 BD 34A1 I 34B I—I U) °I co co co T GA -*GB I f-iGC A 34YH I 34C 34C I-134D 34Y1-1 cn C 0 34Y1-1 34Y 1-1 34Y1-1 • I I■IFB I EB CA 341 34A1 34B 1-1 1 DA 341 H 34A H 34B I—I EA 341 34A MB 1-1 FA 34 34A 34B I—I IA I 34Y1-1 34 I—I 34B H —JA 341 34B H KA 34Y1—I 34 LA 34Y 1-1 341-1 HAWAII I-1 34A 34B H I-134D i-so CB I 34C 34D Dj E{ I 34C 1-134D I 34C I-134D I 34C 34D 34Y H 34C H34D 34C H 34D 34C H 34D 34C I-134D 1-1 Use of stockpiled 1935-7 Series of 1934 sheets I—I iYellow-Green Ink Ordinary Micro Yellow-Green Ink Ordinary Micro Blue - Green In Blue - Green I I I I I I I -.7 u-) co r- co 0) o ,- ar•cr0)C')0) co .4- i.r) co cr) Figure 3. Graph showing the periods of use and overlaps between the serial number block letters, series, varieties, and various design elements on $5 1934 series Federal Reserve notes for each of the twelve districts. The large letters to the left of the columns denote the twelve districts. The bold pairs of letters between the horizontal arrows are the serial number letter blocks. 34Y refers to Series of 1934 notes with yellow-green seals. Table 1. Intervals during which $5 1934 series silver certificate and 1928 series legal tender faces were printed, and the low and high face plate numbers used . Data from Bureau of Engraving and Printing (undated). Plate Numbers Series First Use Low High Last Use Used Used G71154383 A Page 182 Paper Money Whole No. 192 $5 Silver Certificates 1934 Jun 16, 1934 Sep 16, 1938 1934A Jan 10, 1938 Jun 21, 1946 1934B Jan 23, 1946 Feb 26, 1947 1934C Oct 29, 1946 Mar 13, 1950 1934D Oct $5 Legal Tender Notes 17, 1949 Sep 11, 1953 1928 May 1, 1929 Nov 23, 1933 1928A Oct 24, 1932 Nov 23, 1933 1928B Apr 16, 1934 May 23, 1939 1928C Aug 2, 1938 May 27, 1946 1928D Feb 27, 1946 Sep 26, 1946 1928E Sep 12, 1946 May 1, 1950 1928F Mar 13, 1950 Feb 26, 1953 Consequently, if you have several consecutive notes, you will find that the plate letters will rotate through the half sheets, either A, B, C, D, E, F and back to A, or G, H, I, J, K, L and back to G. In addition, the plate numbers on the notes will also cycle through the different plates on the press as you come to the F to A, or L to G pairs. If a mix of micro and macro plates was on the press, such as $5 SC 1934 and 1934A faces, forward and reverse changeover pairs will be present which are, respectively, consecutively serial numbered notes that alternate from 1934 to 1934A, or 1934A to 1934. $5 MULES By far, the most interesting mules involved the three $5 classes. The $5 mule era spanned almost eleven and a half years, from the first use of $5 SC 1934A macro face 562 on January 10, 1938, until the last use of micro back 637 on June 15, 1949. There are two distinct groups of $5 mules: (1) ordinary mules that were produced during the micro to macro transition pe- riod, and (2) what can only be called extraordinary mules that were produced from maverick micro back plates 629 and 637. Back plates 629 and 637 were sent to press in the late 1940s, long after the other $5 micro backs had worn out. Plenty of ordinary $5 mule varieties were produced during the micro to macro transition period. The production of $5 LT and SC mules followed a pattern typical of the other denomi- nations. Specifically, there was intermixing of micro and macro faces and backs for a reasonably short period until the last of the micro plates wore out (Table 3). For example, concurrent usage of Julian-Morganthau LT micro 1928B and macro 1928C faces occurred for just a little over nine months between Au- gust 2, 1938 and May 23, 1939. Similarly, usage of $5 SC mi- cro 1934 and macro 1934A faces overlapped from January 10 to September 16, 1938, a period of eight months. Micro and macro $5 backs served side-by-side for just un- der two years, from March 16, 1938 until February 14, 1940. Faces, seals and serial numbers were printed on the last ordi- nary micro back sheets in mid-1940. They became the last of 1934A GA block mules, and the SC Series of 1934A HA block mules. The silver certificate 1934A GA and HA mules are rare. (See Figure 4.) Federal Reserve mule produc- tion was complicated by two fac- tors. First, no $5 FRNs were printed between May 19, 1937, and July 11, 1941, which elimi- nated the possibility for any yel- low-green seal Series of 1934 and 1934A mules. Second, when FRN production for the various dis- tricts resumed in 1941 and 1942, many micro face plates were still serviceable and were used through 1946, to produce large quantities of ordinary Series of 1934 blue-green seal mules. How- ever, all the regular micro backs were gone by then, so no ordinary FRN Series of 1934A mules were possible. Even without micro back mules, ordinary FRN mule production from the micro Series of 1934 face plates outlasted that of the ordinary SCs and LTs by six years. Table 4 lists the rich trove of ordinary $5 mule blocks that was made. However, this list is not the whole story. The big surprise came on November 10, 1944 when an an- cient $5 electrolytic master basso bearing number 637 dating from 1935 was completed as a production back plate. It first went to press on June 23, 1945, and was used rather continu- ously until June 15, 1949. In the meantime, a second ancient back plate-629-was discovered which had already been completed but never used. It was used for only one press run Table 3. Dates when the last ordinary micro and first or- dinary macro $5 plates were used. Type Faces Last Micro Type First Macro SC 1934 Sep 16, 1938 SC 1934A Jan 10, 1938 LT 1928B May 23, 1939 LT 1928C Aug 2, 1938 FRN 1934 Jan 23, 1946 FRN 1934A Jul 31, 1941 Backs micro Feb 14, 1940 macro Mar 16, 1938 Figure 4. Rare $5 silver certificate Series of 1934A GA block mule printed from micro back plate 905, the last ordinary micro back plate in production. Micro back 905 left the press on February 14, 1940. This note was num- bered in 1940. 1 561 562 1765 1769 1872 1875 2031 2035 2171 5 408 3 175 1 287 288 522 524 550 566 627 628 683 ‘...0 N ,..0 uo ,0 ,o ,,o.1. a'-,1 '7" .1- `,1" .,,., r-- - .- ,-, c c c, ni(-4 M.; V1 06-N ,, N N 7/:' cl.) > >O ,1, L.: v v N 0 LJ., L., Z Z ,-1 0 0 .0 1 1 1 1 Ca.1 1 IIn In in inin ,C ..071. 71. 711 71. t.,- .,r. (0i. ,..(5 ,..- ,._, N r. n N ,-, N '''. > > 0 0 > 0 >0 0 -0 .6. z z z z Z r-9'-" < a-, Paper Money Whole No. 192 Page 183 c, CI --, 0 0 L.,-, c, c, u-, ... -1- ,r.c 0 c (0 c, c c c, c -, c6N N 4 r ■-■ N a. C M N ce N --' .. ' 4 cd N --' N(--: N: 0. _0 u >, li L .4 ,'i 0, ;21 5 0 < <= 0, O „,, ,-..L. c''' ,=,, . .C: 0 .1... -a 1 1 1 7 I I 1 1s s a ..0 ,,a ..0 I ,a N ,.a .,0 c-- -1- ,r, .1. .c .t. N. 71' 71" .,r. .,1.. ,r c , -,1- co c c c, ,J- c c c c o, c, _ o, 4 ,-, >m 4- M- N N N ...6 N: Ili 0 N ‘.6N C,- N M Nt7i ,‘"1,_ .- ■-• 6.., ,) 0 CI. 0. co GJ ri`60. t-, C- 8 )5) 3" .E, 5 0 0 ra ra P.2, 7 CC 7r1 4E a, a. Table 4. List of reported ordinary $5 mule blocks. See Table 9 for the mules from $5 back plates 629 and 637. Series Blocks Silver Certificates: 1934 EA 1934A DA, EA, FA, GA, HA, *A Legal Tender Notes: 1928B EA, *A 1928C EA, FA, *A Federal Reserve Notes: 1934 AA, A* BA, BB, B* CA, C* DA, D* EA, E* FA, F* GA, G* HA, Fl* IA, l* IA, J* KA, K* LA, L*, LA Hawaii, L* Hawaii Co ,..0 ,r,.7r M .,0 ,Z, ,C ,...0 ,.071. ,C c -1. tt ,.., -, - ,.6. .-. that lasted from November 17, 1947 through February 2, 1948. > et ,i 4 ,:i. ,,,i. M N: N: ,e N 4 N 4 These extraordinary back plates produced a plethora of ourN 0 ,.e. 2 , F, '' N g '; l'c.>-s e"C' p -5 '-' rarest and most eagerly sought mules.a I q 7 2 (.: 1-7 I I N 7 ., 1-n N 1 N 73. M 7..., 1 -- .71. 01 71. "r 71. 71. ct• 71.el, 71. c,- 71. c, 71. C, ,-, c c, c' c, - -, ,__, c, $5 SILVER CERTIFICATE KA BLOCK_ - c- c, cn j.. a 0. - 2 6 ,..6- .--7 ;' N ,1 N °°' mC5 c"N ,.6 `6 o.) G.) (-4 -7' As shown in Figure 2 and Table 5, the rate of $5 SC produc-cn ,... , N N c., N M= 8 ,,, .c, . 0. o. o ... .r. ,,,a --A. 3 - Z 0 0 = . . . c/Dw -5 tion fell dramatically between late 1942 and early 1946. The a_ is that the printing of the 100 million notes that coin-ed Ivco prise the KA block was stretched out over three and a half years 71. 3 u, icz In instead of being completed in less than one year. Coinciden - co .1- ,..c so ,,. 7/. ,I. -tr. .1- in .1- in rn La .71. c., 71. 71. C, c., 72. c., c, 71. - . c., on c, c a, ,C 7t. ,.:.1 c, c, C, --, ,-. --, tally, more varieties were introduced during this period than co ,..- me,-; "6 Ni 6 c,i at any other time in $5 SC history (Ton, 1987). Thus, the KAc-;.. ,-,-i N 06 r,i N: 4 06N N N > N .. N ,r) N d0 0 0 0 a ,. u block contains a diverse group of $5 oddities.aco q o C ecm ,c z ,, O ,7 e' „., •. „, . I:3 7 z Included were the following types: (1) interspersed regular7 1 1 7 1 1 1 1 . Ts 4 -t- N .71 '. -1- N N N t. NI ,,, N .7r d. 71. 711 C, C., C, C., C. , c., '1. N N 71. .1. .; Series of 1934A blue seals, (2) six groups of Series of 1934A C, C, ,--. c, C., C, c, td -1 -1 -. ,--, --, ,-, North Africa/Italy yellow seals, (3) Series of 1934A late-finished .. ; Ni CO , ‘6s: . r'i ,.6 . ,e71.7 c.. Gt _ N -' N N N (-.1 face plate 307 blue seals, (4) Series of 1934A late-finished face di a. a ' - .0 . cco -5 .ao co' 8 .-' a c...en -, -2 '8 s ' ,O < ,,,°' plate 307 yellow seals, (5) the first of the Series of 1934B print- ed ings, (6) micro back plate 637 Series of 1934A mules, and (7)a m'1' micro back plate 637 Series of 1934B mules. The first Series of e-, m 0.-, ,..0 ,0,aM ,C N so r,- ,`...' ,o m,.0 r. m1,- 1934B bore serial K90480001A and was delivered February 6, -eir C, ,--, 1-1 c, on c, m m ,-, c., c c, c rn min c, iA c, -. c-, 1946 (Shafer, 1967).cd - - - C, Crn, ,--. .0 CA 0 6 c; 6t.., = N ,r■ N N N c-,1 0 o 4 ,__,C r4 ‘6N M-s...;7 - As shown in Table 6, $5 SC late-finished face plate 307 was 1" co >-, N >, 0. N 'E. >-, started as a micro Series of 1934 plate in 1936, but not corn- oti I z et il < ui >. ': C? 5 s 2 yD c0J I 4 1-r)1 Inllii .11 71. M ‘1, cr, ,,,, ' 2 pleted until 1942, during the macro era. It was made into a E -P ,-, DI 0.-) c, c., c,n M cr, m In Series of 1934A with macro plate numbers. The plate number = - - C., G._ C-, c M C.,-, C, In r■-,0 C, TO C, ,-. C, - 307 is decidedly of micro vintage, contrasting with the other A(N-s ,..7/1 r‘i' N. 6 CN c",1 c.. --, 1934A numbers that range from 562 to 1765. Thus, it makes>-. N- -M,- __NI N to en 8 if., c!,.-', O > 0 0 co for an interesting oddity. Plate 307 was used between July 1942Z 0 Z 2 `c'' `6.' 8 O'-' 8z 1 <= and June 1943, to print 47,437 sheets (569,244 notes), which Ni received both blue and yellow seals (O'Donnell, 1977). The ed 4ea <= um L2i - co blue seals are decidedly scarce. Unfortunately, it did not last..g7 wc.L. -. aao H 3 aeez long enough to be muled with back plate 637. A few serious collectors have attempted to collect the $5 SC KA block, not only by type but also each of the main groups of Year First $5 LT First $5 SC A0000000 1A A69168001A B19700001A B8098400 1 A C36088001A C98788001A D23208001A D39780001A D77892001A E16604001A E60848001A F00868001A F29488001A F63448001A F9704800 1 A G0904800 1 A G28068001A G47568001A G69648001A H04628001A H33368001A H64028001A 101408001A 136268001A A00000001A A67884001A B10388001A C20680001A D39384001A E92888001A G50004001A I-190092001A 141304001A K53984001A K5998400 1 A K65984001A K84284001A L53044001A M89064001A P11464001A Q41460001A R80660001A S99304001A 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 Table 6. Plate record for $5 silver certificate Series of 1934A late-finished macro face plate 307. Data from Bureau of Engraving and Printing (undated) . Begun: Apr 6, 1936 Finished: Press runs: Jul 3, 1942 Reentered Certified Jul 9, 1942 - Jul 28, 1942 Jul 29, 1942 Aug 19, 1942 Aug 27, 1942 - Sep 10, 1942 Sep 15, 1942 - Sep 23, 1942 Sep 24, 1942 Oct 19, 1942 Nov 11, 1942 - Dec 1, 1942 Dec 3, 1942 - Dec 4, 1942 Dec 9, 1942 - Dec 23, 1942 May 12, 1943 - Jun 3, 1943 Jun 4, 1943 Canceled: Jun 19, 1943 Page 184 Paper Money Whole No. 192 Table 5. First serial number printed during each year be- tween 1928 and 1952 for the $5 1934 series sil- ver certificate and 1928 series legal tender notes. Data from Bureau of Engraving and Printing (1952). Table 7. Highest serials on the $5 Federal Reserve Series of 1934 yellow-green seal notes. Data from Bureau of Engraving and Printing (1952). District Last Serial Boston A06 000 000A New York B14 832 000A Philadelphia CO6 720 000A Cleveland D05 400 000A Richmond E04 992 000A Atlanta F12 000 000A Chicago G09 732 000A St. Louis H10 368 000A Minneapolis 104 920 000A Kansas City J03 000 000A Dallas K08 352 000A San Francisco L12 396 000A Macro plates, both backs and faces, were being used prior to the Federal Reserve seal color change so both Series of 1934 and 1934A yellow-green seal mules exist in the $10 and higher denominations. However, no $5 yellow-green seal mules of any type were made because no $5 FRNs were printed between May 19, 1937 and July 11, 1941. (See Table 2.) Series of 1934 $5 FRN yellow-green seals mules with macro backs were precluded because macro back plates first went to press on March 16, 1938, after yellow-green seal production had ceased. Similarly, no Series of 1934A yellow-green seals with micro backs were made because the first Series of 1934A face plates went to press on July 31, 1941, long after the yel- low-green seal era. interspersed regular blue and yellow seal printings. Adding to the chase are numerous possibilities for changeover pairs be- tween the 1934A and B printings, 307 face plate varieties, and micro back 637. The quest is endless. FRN YELLOW-GREEN AND BLUE-GREEN SEALS There are two major seal color varieties on the Series of 1934 FRNs. The earlier carry vivid yellow-green seals, whereas the latter have pale blue-green seals of which various shades exist. The change from yellow-green to blue-green took place in 1938, probably in the late fall. The highest serial numbers found on the $5 Series of 1934 FRN yellow-green seals are listed in Table 7. STOCKPILED INCOMPLETE FRN SERIES OF 1934 SHEETS The backs on the early Series of 1934 FRNs, and other classes of currency of similar vintage, were printed using a very dis- tinctive soft-appearing yellow-green ink. This ink was succeeded by a dark blue-green ink. The change in ink for all denomina- tions occurred between the beginning of the $1 SC Series of 1935A KB block and the end of the LB block, respectively se- rial numbered between November 5, 1940 and February 25, 1941. No $5 FRNs were being printed during this period, yet the old yellow-green $5 backs add significantly to this story. The fact is, $5 yellow-green micro backs are found mated with FRN Series of 1934 faces that were serial numbered in 1941 and 1942. These notes comprise the very scarce non-mule blue-green seal and non-mule Hawaii Series of 1934 printings. Their existence proves that they were be- ing produced from a stockpile of old $5 sheets. Two questions arise. (1) Did the sheets carry only back impressions? (2) If so, did any end up being muled with Series of 1934A FRN faces which began to be used in 1941 and 1942, or with SC and LT print- ings after regular micro back production ceased in 1940? The answer to the first question is no. The stockpiled sheets also bore Series of 1934 FRN faces. The notes that have been observed from the stockpile were printed FIVE irrivin iiimunirmetrii FIVE Paper Money Whole No. 192 Page 185 El Figure 5. Certified proof of $5 micro back 629, the last old gauge $5 plate made. Old gauge means that the vertical separation between the subjects on this plate are slightly less than on those that followed, including 637. Also notice the difference in the placement of the guide lines in the margins as compared to those on 637. The plate approval date stamped on the lower margin is December 29, 1933. (Smithsonian Institution photo 85-24.) from back plates in use between 1935 and 1937, and those plates were canceled by the end of 1937. More telling is the fact that some of the faces were printed from plates that were also canceled in 1936 and 1937. Obviously the stockpile con- sisted of sheets of Series of 1934 FRNs that were complete ex- cept for the seals and serial numbers. Such stocks existed for most, if not all, of the federal reserve districts. Because the stockpiled sheets had faces, no faces could be added. Consequently no FRN Series of 1934A mules or 1941- 2 vintage SC or LT mules could be made from them. Thus the 1 4 4 2 1H` IMILLIGALlittio r,, n FIVE FIVE 111111;13' .110C11114114,11.1iir. Page 186 Paper Money Whole No. 192 Figure 6. Certified proof of .55 micro back 637. The plate approval date stamped on the lower margin is November 10, 1944, when the plate was finally finished as a printing plate. It was begun on January 24, 1935 as a new gauge electrolytic master basso to be used to make altos which, in turn, were used to make other production plates. (Smithsonian Institution photo 85-23.) answer to the second question is also no. The following dis- cussion will illuminate the issue. The preprinted 1935-7 vintage sheets were serial numbered in 1941 and 1942 when $5 FRN production resumed for the various districts. The result was Series of 1934 blue-green seal yellow-green back non-mules, and the Hawaii brown-seal yel- low-green back non-mules. Production of these oddities was then followed by newly printed sheets of Series of 1934 mules Paper Money Whole No. 192 Page 187 with blue-green macro backs. The latter were made in large quantities, the last being for Richmond in 1946. The emergency $5 Hawaii printings illustrate what hap- pened. The first Hawaii $5 printing began on June 6, 1942, and a million notes were delivered to the U.S. Treasurer on June 8, followed by another consecutive 1,600,000 notes on July 15 (Simek and Medcalf, 1991). The available stockpiled 1935-7 vintage San Francisco sheets were sent directly to the serial numbering presses to kick off these production runs. The result was the scarce Series of 1934 non-mule yellow-green backs. The first $5 Hawaii bore serial L12396001A, a Series of 1934 non-mule which was the first San Francisco $5 printed since 1937. However, the stockpile of Series of 1934 San Francisco sheets was insufficient to meet the demand. Consequently, 28 Series of 1934 San Francisco face plates also were rushed to press on June 6, and their impressions were mated with contemporary blue-green macro backs. These muled Series of 1934 sheets followed the old stockpile sheets to the numbering presses to complete the deliveries made on June 8th. The stockpiled San Francisco sheets were depleted before the first million $5 Hawaii notes were printed, so none were available when blue-seal production resumed. Consequently, no San Francisco $5 Series of 1934 non-mule blue-green seal yellow-green backs were made. The first Series of 1934 San Francisco blue-green seal—serial L14996001A—was a mule for which all three printings were of 1942 vintage. The last sheets remaining in the stockpile appear to have been those for the Minneapolis district. These began to be numbered in the late October 1942 time frame, and the stock- pile was finally depleted. Although the presence of the stockpile prolonged the use of micro backs into 1942, it clearly did not result in mule pro- duction. The sheets all had micro Series of 1934 FRN faces. Thus no FRN Series of 1934A blue-green seal yellow-green back mules were printed, even though 1934A New York faces were on the presses as early as July 31, 1941. This is unfortunate because such a 1934A mule would have had a blue-green seal and a yellow-green back. It would have been a distinct mule type in itself. Obviously, the stockpile could not provide feed stock for the SC or LT printings because the sheets already had Series of 1934 FRN faces. Consequently, combinations such as $5 SC Series of 1934A IA and JA block mules were not made. MICRO BACK 637 Probably the most interesting $5 back plate ever made was micro plate 637. It was begun on January 24, 1935, as a new gauge electrolytic master basso (Frey, 1986). The term "new gauge" refers to plates where the vertical separation between the subjects was increased slightly in order to produce wider margins to improve the registration of the faces on the backs. (See Figures 5 and 6.) The first new gauge $5 back was plate 630, which was finished on January 31, 1935. "Electrolytic basso" denotes a plate made by electrolytic deposition of nickel on an alto (Bureau of Engraving and Printing, 1962). An "alto" is a reverse image of a master plate, also made by electro-depo- sition, whereon the intaglio image from the master is repro- duced in relief. "Master" basso means that 637 was used to produce other altos by electro-deposition, which in turn were used to make regular electro-deposition production plates. Plate 637 was begun on January 24, 1935, during the micro era. It was completed as a regular printing plate on November 10, 1944, long after its service as a master basso. Its conver- sion into a printing plate undoubtedly was an economy mea- sure. It bore micro plate numbers but when they were added is unknown. No other $5 micro backs were in use then, the last having left the presses in 1940. Micro back 637 was placed in service in June 1945 and be- gan to produce strange and wonderful mules. As shown in Table 8, this remarkable plate saw almost continuous service from June 23, 1945 until June 15, 1949. Impressions from it found themselves mated with a huge assortment of faces in the silver certificate, legal tender and Federal Reserve series. An incredibly long list of possible and known matings appears in Table 9. Micro back 637 produced $5 FRN mules in the 1934A, 1934B and 1934C series. All are rare, as shown in Table 10. The $5 Series of 1934A FRN mule ranks as the rarest mule type in any series or denomination. Only four have been dis- covered to date—two from New York in the BB block, one from Philadelphia, and one star from San Francisco. MICRO BACK 629 Micro back 629 was completed normally on December 29, 1933. It happened to be the last old gauge $5 back plate—one with the more closely spaced subjects—so it was set aside and saved in unused condition (Frey, 1986). It sat around for 14 years. Someone resurrected it in 1947, probably as another economy measure. It was sent to press on November 17th and its first and only press hitch lasted just two and a half months. Next it was reentered to prolong its life; however, it was never recertified for use. The narrow spacing between the subjects caused centering problems which proved to be a nuisance when mated with the new gauge faces then in use. It was withdrawn from service and canceled. Notice from Table 8 that its short stint in service coincided with one brief period when 637 was not in use. Mules from 629 are rare, owing to its short service. Impres- sions from it can be found mated with $5 Series of 1928E legal tender, 1934C silver certificate, and very rarely 1934C Federal Reserve faces. Three 629 1934C FRNs are now known. (See Table 10.) Remarkably, the two from New York are within 100 serial numbers of each other, despite the fact that they parted company 50 years ago, and circulated widely until each was worn to a grade of very good. NOTABLE RECENT 637 MULE DISCOVERIES The most significant 637 micro back mule to turn up recently is a $5 SC Series of 1934A star note, serial *11747571A, face plate 11765, in vf+ that was discovered by David Klein, and later sold to David Koble at the February 1996 Chicago show. (See Figure 7.) The serial number on this previously unreported 637 block is currently the highest known on a 1934A star, and is well within the range for reported 1934B star notes. Face 1765 was the last 1934A $5 SC made and was used from Sep- tember 28, 1945 to May 22, 1946. It was the second to last 1934A plate to leave the presses; plate 1734 lasting until June 21, 1946. This interesting star note was printed in 1946, after 1934B production had commenced. Logan Talks located $5 LT Series of 1928C L485/637 G45604674A in f-vf in the fall of 1994 (Figure 8). This mule, printed in 1945, is rare and appears to be an underrated variety. I found a new 637 $5 FRN Series of 1934C block at a small coin show in Denver in April 1996, specifically C95791219A 417litr El")1147111:-. *117475714 -40 ViiiiGlix".ee. *11747571 A „ tiMLVENI A.AILIBALE TIOrTALL,Militat tIONT_AWNSOt4411111,130111U 045604674A 1 7 I WASI IINI:TON.D.C. .P.S.11,1COVERCB71841.$7611. .38E31L113.1 - LL- VW. 11Jioat.0 . Page 188 Paper Money Whole No. 192 Table 8. Plate records for $5 micro back plates 629 and 637. Data from Bureau of Engraving and Printing (undated). Plate 629 Begun: Finished: Press Run: Dec 6, 1933 Dec 29, 1933 Reentereda Certified Nov 17, 1947 - Feb 2, 1948 Feb 3, 1948 Canceled: Feb 17, 1948 Plate 637 Begun: Jan 24, 1935 Finished: Nov 10, 1944 Press Runs: Reentered Certified Jun 23, 1945 - Sep 24, 1945 Sep 25, 1945 Nov 28, 1945 Nov 30, 1945 - Jan 23, 1946 Feb 8, 1946 - Mar 7, 1946 Mar 12, 1946 - Jun 11, 1946 Jun 17, 1946 - Jul 22, 1946 Jul 23, 1946 Aug 19, 1946 Aug 23, 1946 - Oct 17, 1946 Oct 21, 1946 - Nov 1, 1946 Nov 4, 1946 Nov 20, 1946 Nov 26, 1946 - Feb 13, 1947 Feb 14, 1947 Feb 27, 1947 Feb 28, 1947 - Jul 17, 1947 Jul 18, 1947 Aug 4, 1947 Aug 19, 1947 - Nov 12, 1947 Feb 13, 1948 - Sep 24, 1948 Sep 27, 1948 Oct 7, 1948 Oct 19, 1949 - Mar 8, 1949 Mar 9, 1949 Apr 5, 1949 Apr 8, 1949 - Jun 15, 1949 Canceled: Jun 16, 1949 a. Reentered means the design is repressed into the plate from a roll to sharpen details that show wear. Figure 7. Only reported $5 silver certificate Series of 1934A star note mule with a 637 micro back. The serial is the highest reported for any Series of 1934A star note and was printed in 1946. (Photo courtesy of David Koble.) Figure 8. Rare $5 legal tender Series of 1928C 637 micro back mule printed in 1945. (Photo courtesy of Logan Talks.) Figure 9. A newly discovered serial block letter combination, CA, on a $5 Federal Reserve Series of 1934C micro back 637 mule. This note was printed in 1949, late in the life of the plate. A138/637 which grades almost uncirculated (Figure 9). One other Philadelphia 1934C mule is known, it being from the CB block with serial C00036000B. Both were serial numbered in 1949, so they were among the last produced from this pro- digious back plate before it was canceled on June 16th. Obviously rare mules are still out there waiting to be dis- covered, provided you are willing to turn over otherwise com- mon notes and look at the back plate numbers! AN AS YET UNDISCOVERED $5 637 FRN VARIETY One variety with back plate 637 that has never been reported is a $5 FRN Series of 1934 non-mule. As shown in Figure 3, Paper Money Whole No. 192 Page 189 Table 9. Possible and reported $5 varieties from micro back plates 629 and 637. Underlined blocks have been observed . Plate Class Series Dist. Type Serial Blocks 629 SC 1934C mule MA, NA *A LT 1928E mule HA *A FRN 1934C A mule AA, At B mule BC B* C mule CA, C* D mule DA, D* E mule EA, E* F mule FA, F* G mule GB, G* H mule HA, H* I mule IA, I* J mule JA, J* K mule KA, K* L mule LA, L* 637 SC 1934A mule KA LA. *A 1934B mule KA LA *A 1934C mule LA, MA, NA, PA, *A LT 1928C mule GA, *A 1928D mule GA, *A 1928E mule GA, HA *A FRN 1934 A non-mule AA, At B non-mule BB, B* C non-mule CA, C* D non-mule DA, D* E non-mule EA, E* F non-mule FA, F* H non-mule HA, Fl* I have written a dozen articles about J non-mule JA, J* mules since 1967. I thought I had FRN 1934A A mule AA, At written the last word on the topic B mule3, B* after completing the first couple of C mule CA C* those articles. However, just about D mule DA, D* every time I went to Washington, I E mule EA, E* seemed to stumble across new data F mule FA, F* in one or another of the archives, or G mule GA, GB, G* someone showed me another new H mule HA, H* variety at some coin show, either of L mule LA, LB, L* which made earlier conclusions ob- FRN 1934B A mule AA At solete. The latter is a face-saving, tact- B mule BB B* ful way of saying wrong. NewB 212 mule BB, B* discoveries still continue to provide C mule CA, C* great surprises and new insights.D mule DA D* I have made every attempt here toE mule EA, E* provide you with the latest, most ac-F mule FA, F* G mule GB, G* curate information on the $5 mules. H mule HA H* If you read a statement or conclusion I mule IA I* in one of my earlier articles that is at J mule IA, J* variance with what is presented here, L mule LA, LB, L* or you find a discrepancy or a differ- FRN 1934C A mule AA, At ent date than appears here, rely on B mule BB, BC, B* this article. That is, trust this mate- C mule CA, CB, C* rial until we get to digest some new D mule DA, D* discovery or we find some obscure E mule EA, E* document in a government archive F mule FA, F* that will yield yet another wrinkle! G mule GB G* H mule HA H* I mule a I* J mule LA, j* K mule KA, K* L mule LB, L* this variety is possible from 1945-6 printings for several districts. If found, they will have blue-green seals and blue-green backs. They will rep- resent a distinct type because of the blue-green backs. In contrast, the blue-green seal Series of 1934 non- mules of 1941-2 vintage made from the stockpiled sheets have yellow- green backs. A REMOTELY POSSIBLE $5 FRN MULE New York $5 FRN Series of 1934B face plate 212 bears a very distinc- tive intermediate size plate number that is midway in size between a mi- cro and macro. (See Figure 1.) This plate was used between November 7, 1945 and November 14, 1946 (Table 11), a period that was entirely overlapped by the usage of $5 micro back plate 637. Thus it is possible that a 212/637 could exist. None have been reported. Such a find would marry two unusual varieties. NEVER ENDING QUEST 629 AND 637 CENSUS I am working with Logan Talks, 4108 Elmhurst Rd., Toledo, OH 43613 (419-474-4549) to assemble a census Page 190 Paper Money Whole No. 192 Table 10. Reported $5 Federal Reserve Series of 1934A, B and C mules. Serial Plates Grade Series of 1934A B63063567B C160 637 AU B69708310B D159 637 VF C69052070A H80 637 G L01212949* A90 637 XF Series of 1934B A54375901A A96 637 VF B94584878B B211 637 F B94911759B 637 ? D60641001A C49 637 F G21370363B G167 637 CU H54567383A K95 637 CU H54567384A L95 637 CU I18105713A 637 F L01597562B B166 637 VG L02967122B H149 637 CU L01359866* 637 CU L01359867* 637 CU Series of 1934C A54870831A C127 637 F B22594851C 1257 629 VG B22594947C 1255 629 VG B42196541C E263 637 VG B45409229C E257 637 AU C95791219A A138 637 AU C00036000B F135 637 CU D76605379A G71 637 VF+ D77184218A B71 637 AU G31475153B E216 637 VG G45417717B 1219 629 VG G61015789B 637 VG G64633087B 229 637 ? H70831511A 120058699A 141 637 F J31266251A 637 VG serial number, face plate letter and number, back plate number, and grade. ACKNOWLEDGMENTS James T. Lemon provided a copy of a letter explaining the spe- cial significances of $5 back plates 629 and 637 that he re- ceived from Bureau of Engraving and Printing employee Paul Frey. Lemon also arranged for David Koble to send microfilmed plate history records that he had obtained from the U. S. Na- tional Archives which he subsequently deposited with Dave. Robert Azpiazu and Jim Hodgson provided serial and plate number data for many of the $5 Series of 1934 FRN yellow- green back, blue-green seal notes used in this analysis. David Koble and Logan Talks supplied photos. SOURCES OF DATA Bureau of Engraving and Printing. (1952). First serial numbers printed during each year on United States small-size notes from 1928 to 1952: Typed list prepared by 0 M Secretary, Bureau of Engrav- ing and Printing, Washington, DC. Bureau of Engraving and Printing. (1962). History of the Bureau of Engraving and Printing, 1862-1962: U. S. Government Printing Office, 199 p. Bureau of Engraving and Printing, undated, ledgers and historical records of stock in miscellaneous vault (currency printing plate history ledgers showing series, plate numbers, dates begun, dates finished, dates of use, dates reentered, and dates canceled): U. S. National Archives, Washington, DC. Frey, Paul R., executive assistant, Bureau of Engraving and Printing, Washington, DC, October 23, 1986, letter to James T. Lemon ex- plaining the special significances of $5 micro back plates 629 and 637. Huntoon, Peter. (1990). $5 federal reserve mules: Paper Money, v. 29, p. 69-76. O'Donnell, Chuck. (1977). The standard handbook of modern United States paper money, 6th edition: Harry J. Forman, Inc. (Philadel- phia, PA), 342 p. Shafer, Neil. (1967). A guide book of modern United States currency: Whitman Publishing Company (Racine, WI), 160 p. Table 11. Plate record for New York Federal Reserve $5 Series of 1934B intermediate face plate 212. Data from Bureau of Engraving and Printing (undated). Begun: Oct 9, 1945 Finished: Press Runs: Nov 7, 1945 Reentered Certified Nov 7, 1945 - Jan 22, 1946 Feb 26, 1946 - Mar 6, 1946 Mar 13, 1946 - Mar 26, 1946 Apr 23, 1946 - May 10, 1946 May 13, 1946 Jun 6, 1946 Oct 25, 1946 - Oct 31, 1946 Nov 4, 1946 - Nov 14, 1946 Canceled: Sep 8, 1948 of the known $5 back plate 629 and 637 notes. Please report your specimens to him, or to me, Peter Huntoon, P. 0. Box 3681, Laramie, WY 82071 (307-742-2217). Even the most com- mon note holds research significance. We need the type, series, Simek, James A., and Donald Medcalf. (1991). The overprinted notes of World War II: The Numismatist, v. 104, p. 1886-1902. Ton Jr., Graeme M. (1987). The "king alpha" $5 silver certificate: Paper Money, v. 26, p. 20-23. Paper Money Whole No. 192 Page 191 2-he ,Cast Rota of De _Cost Cause by JOHN MARTIN DAVIS, JR. This is the critical missing copy from No. 190, page 123. An apology is extended again to Mr. Davis. The final, and in some ways most intriguing depository re- ceipt, is a hand-altered-form adapted to the November 28, 1864 Act for use by the "Assistant Treasury Office, Charleston." Of particular interest is the higher certificate number (152), indi- cating the actual number of exchanges by the date written, February 3, 1865. The second revelation is the bearer and quan- tity of treasury notes exchanged—the Bank of Charleston, South Carolina for $112,900.00. This was a substantial exchange by a major bank. Finally, the Assistant Treasurer of Charleston, South Carolina in manuscript on a separate envelope accom- panying the original depository receipt wrote: W.G. Leitch — Assist Tr Recd for $112,900-7 30/100 notes for which 6% Bonds are to be issued under Act Nov. 28 1864 The official Treasury Register, according to Dr. Douglas B. Ball, recorded about $320,000 worth of November 28, 1864 bonds. Dr. Ball concluded that no actual bonds under the November 28, 1864 Act were in fact ordered, printed or ex- ecuted, although depository receipts were issued. Given the customary formalities observed by treasury officials, it seems unlikely that depository offices would issue receipts for a bond exchange if those depository officials did not have in their possession detailed guidance from the Trea- sury Department for complying with the Act. It is suggested the Treasury Department probably issued printed instructions and may have considered both the bond design and possible printer. Bonds of several acts continued to be printed at Co- lumbia, South Carolina until occupied by union forces on Feb- ruary 17, 1865. The Columbia Treasury Note Bureau ceased to operate after that date. Perhaps an order, design or other in- structions prior to the fall of Columbia exist describing this elusive bond. Given Dr. Ball's perusal of the official correspon- dence, existence of such material seems at best highly prob- lematic. One possibility that may account for the lack of evidence of the November 28, 1864 Act bonds would be substitution with a prior bond issue. There was, after all, precedent for bond issue substitutions. The 4% coupon bonds of the March 23, 1863 Act were again issued with much higher numbers as a means of funding state-held notes. The States were allowed to substitute coupon bonds for the Criswell Number (Cr.) 141 series registered bonds. Obvious candidates for the November 28, 1864 substitution are the Cr.142-146 series bonds, with 30 year terms bearing 6% interest as provided by Sections 6, 7, and 8 of the Act of February 17, 1864. The 30-year bond and coupons conceivably could have been modified and reprinted in Columbia by changing the due date of July 1, 1894 to January 1, 1895. Another possibility may be hand-alterations of the February 17, 1864 bond to provisions of the November 28, 1864 Act. The interest payment dates for six of the coupons (warrants) annexed to the bond would also require modification. Ink and pen alterations are not unique. Earlier coupon bonds were regularly altered, usually in red ink, to correct the interest accrual date and lower the coupon inter- est warrant. The later series of the 6% interest, 30-year coupon bonds are surely worthy of close examination. Some inventive registrar or pragmatic depository may have assumed greater creativity as the war was winding down and necessity became the mother of invention. ■ Buying & Selling foreign Banknotes Send for Free List William H. Pheatt 6443 Kenneth Ave. Orangevale, CA 95662 U.S.A. Phone 9 I 6-722-6246 Fax 9 16-722-8689 Bank History Books • Published Bank Histories, over 200 Different, from Almost all States, and Canada, 1882 to the Present. • State and Regional Banking Histories, over 40 Different, mid-1800's to 1920's • Bank Directories & RR Manuals, Occasionally • Research Materials, Collateral Items for your Paper Money or Check Collection • Inquire by Author, Bank Name, or State of Interest OREGON PAPER MONEY EXCHANGE 6802 SW 33rd Place Portland, OR 97219 (503) 245-3659 Fax (503) 244-2977 *1.00 *1.00 Ns. yy FORr-S1'.1171- 1' A , 't5. • 00,754E1{5A41[Vt ONE OCILLAii 3n litercliai bise, orb?`_' .rrrnt Unnli Notes, Who' the vim qf I E 49( ....C+r. It s1=1415SIMIIVIMISEIEMIZMITE7 , ., Page 192 Paper Money Whole No. 192 ABOUT TEUSw.MOSTLY he Story ihe Slore Scrip o James M. SmooL CD Denlion. Texas by FRANK CLARK A little background about Denton is in order, to relate how the community was named. Denton County, Texas was created in 1846. It was named in honor of Captain James B. Demon, who was killed in a skirmish with Indians near what is today the city of Arlington. Captain Denton's commanding officer was General Tarrant. The day after he was killed, Denton was buried near present-day Justin in Denton County; in 1850, he was reinterred at the Chisum Ranch, northwest of Bolivar. On November 28, 1901, his re- mains were again moved to the lawn of the Denton County Courthouse. A small log courthouse was built in Denton in 1851. A square was laid out around the courthouse, and lots were offered for sale. Each lot was 50 feet wide, and there were six lots on each side of the courthouse square. The lots sold for $25 to $30 each. However, the last lot was sold for $65; this was the south lot on the west side of the square. It was purchased by James M. Smoot, who desired a lot with a front facing the East. Smoot soon erected a rather large store building, and put in a large stock of general merchandise. This was in 1854, and Smoot's was the largest store in Demon. Roads were poor everywhere. The difficulties of transporta- tion made imported items dear, and in some cases the costs were prohibitive. There was little real money in the area, and home-produced articles brought very low prices on the local market. Land was cheap, with thousands of acres for sale. Shreveport, Louisiana, Jefferson, Texas, and Fort Smith, Ar- kansas were the market places at this time. Goods were hauled by teams of oxen from these cities, and only when green grass could be had for the oxen at night. If a merchant ran out of an article of merchandise, he remained out until the next year, when the oxen could make the trip. On July 8, 1860 a series of fires broke out in North Texas that led credence to rumors that they were started by The Union League or escaped slaves. The Union League was a band of Northern sympathizers upon which much suspicion rested. The suddenness and widespread similarity of cases seemed too strong for denial. The first fire was in Dallas, and it caused about $400,000 in damages. Other fires on that Sunday broke out in Denton, Pilot Point, Ladonia, Honey Grove, Milford, Waxahachie, Jefferson and Austin. The fire in Denton started in the counting room of James M. Smoot's store, located at the corner of Elm and Hickory Streets. A Southwesterly wind spread the fire to other stores on the West side of the square. In the store operated by Baines and Mounts, there were 25 kegs of powder; these exploded, and sent burning pieces of lumber, chains and castings in every direction. This caused other buildings around the square to catch fire. Every building on the west side was in ashes, except the one at the north lot on the west side—Blount and Scrugg's Grocery Store. Everyone in town fought the fire. The estimated losses were over $80,000. Smoot lost everything he had, and said that his losses alone were over $50,000. At a public meeting in Denton on July 27, 1860 the Central Committee of Safety For The County was organized. This group laid plans for the detection, arrest, and eradication of aboli- tion agents, horse thieves, and suspicious characters. Later, it was suggested that the fires were started by "prairie matches." These had only recently appeared, and might have been set off by the hot sun of that Sunday afternoon. The match stems were made out of compressed paper, and the match head was made by dipping it into a sulfur preparation. However, most of the people still felt strongly that The Union League or escaped slaves started the fires. Mr. Smoot rebuilt his store after the terrible fire. He appar- ently began an association with a drug store in Fort Smith, Arkansas—M. Mayers & Brother—because M. Mayers & Brother issued scrip notes that were redeemable not only at their store, but also at the Smoot store in Denton, as well as other stores in different locations in Arkansas and the Cherokee Nation (now Oklahoma). A $1 note from M. Mayer & Bro., Fort Smith, Arkansas, which could be redeemed at the store of J.M. Smoot, Denton, Texas. These scrip notes bear various dates in 1861 and 1862, and denominations of 25 cents, 50 cents, $1 and $2 have been recorded. The notes are signed by two Mayers brothers. They are printed on very thin paper, and all the known notes are well-circulated. The store names where the notes could be redeemed are in- cluded in very tiny print; on the upper inside border of the $1 note illustrated is the following statement: "Redeemed by Stirman & Dickson, at Fayetteville, White & Haney, Van Buren, F.H. Nash, Ft. Gibson"; at the bottom lower border is "Re- deemed by J.M. Smoot, Denton, Texas." Another surviving note is a slightly different variety, where the "Redeemed by . . ." statement, at the top of the $1 note described above, appears at the bottom, while the upper border reads, "Redeemed by Alexander & Allen, Sherman, J.M. Smoot, Demon, Texas." The illustrated note is brown in color, and like many other surviving specimens, has a counterstamp in the center read- ing, "M. Mayers & Bro. — Druggists — Fort Smith, Ark." James M. Smoot died in 1862. He was buried in the I.O.O.F. Cemetery. In 1859 he had donated a block of land to be in- (Continued on page 195) It 0 3101Erilt 4:_.X1R1r3( Fmniork- . ....... - b doh, .44,/ S :R. 6 GO- , .anyagionns,mistrr.( rot. ./...?f,,,//kAyra, fte/64naweve/eoeve deewet'! lete-ewhee . / le,rik.'ver teeth /eeeee km/ /e. efee neer. ea lee. we, eeta eveepe/ree,reemwee:taxiAie ,,,eykeem /le ref, eee4ivii )A,,eteroar. or/ tewei/ 'rev*/ee Ir Zeveefre /ye, awe/ .9,frn>/(01, Zovcae li1110,4 oee/e/este Iee*leeeee eeeedeah" endepeeaGe joe/ eke, ',hoe", /Fee IS CAPtijik/VIC(1/0////7, ?eV' .1 • : Paper Money Whole No. 192 Page 193 IFISASCISC 11-11-11E AkIFIC8401131111_11E 11SIID1IJSTILII by PIERRE BONNEAU HE appearance of stock and bond certificates in the automobile industry dates back to the turn of the cen- tury. They were not frequently used at first since the early requirements to build a car were quite affordable. No heavy investment in plant and equipment was needed, as pro- duction was almost exclusively an assembly operation, using parts and components bought from outside firms. Moreover, many manufacturers financed themselves by buying from sup- pliers on credit and selling to dealers for cash. However, the best prospects for survival were generally those companies that were already established, or those individuals who could find investors. In other words, substantial capital soon became essential! To illustrate this point, I chose five important individuals who, in their own way, shaped the world of motorized vehicles as we know it today, and recount how they "financed" their entry in the American automobile in- dustry. From Ransom E. Olds and Henry Ford, two impover- ished engineers with a dream, to James W. Packard and the Studebaker brothers, both already established, and finally the flamboyant Preston T. Tucker, who used marketing and the stock market before his prototype was even completed! RANSOM ELI OLDS Olds Motor Works Company REO Motor Car Company A 1930 share certificate featuring the famous winged "REO" logo flanked by two young maidens. Originally involved with stationary gas engines, Ransom E. Olds built his first experimental three-wheeled steam car in 1891. He went on to form the Olds Motor Works Company five years later, and introduced a single-cylinder gasoline-engined vehicle of dogoart-type in 1897. Hindered by lack of capital for nearly two years, Olds finally found a backer in a copper and lumber magnate named Samuel L. Smith. The latter in- vested $199,600 into the venture in return for 95 percent of its stock, while Olds contributed the rest of the $200,000 of Scripop* Corner paid-up capital. Ready for a new beginning, the company moved its operations from Lansing to Detroit in 1899. Bad luck seemed to have struck again when the new factory burned down in March 1901. A little buggy with a one cylin- der engine and a curved dash, which Olds had designed as a possible low priced car, was all that was left! Having no other alternative, the company concentrated its effort on the curved- dash buggy and ordered engines from Leland & Faulconer, then a machine tool manufacturer also making motor boat engines (Leland later created the "Cadillac" cars). As for transmissions, they came from a small machine shop owned by brothers John and Horace Dodge! Needless to say, the result was spectacular. The little curved- dash runabout soon became known as the "Merry Oldsmobile," considered by many as the world's first mass- production automobile. The car itself was very successful until 1904, at which point Smith decided to drop the buggy in fa- vor of heavy touring cars. Olds disagreed and left the com- pany, only to be put right back in business by a group of Lansing associates. The new venture, named the REO Motor Car Company (for R.E. Olds), kept on producing inexpensive 8hp single-cylin- der runabouts until 1909, and a more expensive companion 16hp twin was also offered. The company itself remained a steady seller for more than twenty-five years. HENRY FORD Ford Motor Co. A 1974 share certificate depicting young Henry Ford behind his original "Quadricycle," flanked by a network of highways linking country to city. Since his boyhood, Henry Ford definitely had a flair for machinery. He spent close to twenty years as a mechanic, machinist and engineer before he built his first car, the "Quadricycle," in 1896. Underfinanced, he had to wait three years before finding support from a group of Detroit business- men headed by a lumber dealer named William F. Murphy. The new venture, originally organized as the Detroit Auto- mobile Company and later as the Henry Ford Company, was a disaster. By 1902 Ford had been replaced by Henry M. Leland T 411111.r lava t r) a &Iv/lilt/I it, at al cDtpluitex. ZOO IRegaiinft INsiolf. that ,ii !/ Wed, 4. •-•■-•7 -=',".).1 •••••••■•• ‘—` 7/,!,, 1 CC k /43 tattirevtttiv#440 NO. TAC::::059 Teo A- ie AP• CORPORATION CLASS A COMMON .L.LARINa COMM'MN .w. oNE ouNole. ,**. mee*eLeelde*** 'lc, el olee el LI Nel. ol lc CNN A Cm.m.MNi .AM it Pw '837.35. iLe NLN eelleNNe, ommysoRros4 •-47mwm.w.fm-t.mk ...t.i...;,,Aw.5,--,07. A 1947 Class A common stock "temporary certificate" ... the engraved certificates were never printed! Page 194 Paper Money Whole No. 192 (of Leland & Faulconer), and the company was reorganized as the Cadillac Automobile Company (. . . so Ford and Cadillac have a common ancestry!). Ford himself was anxious to get back to work, and founded the Ford Motor Company with another group of partners in 1903. Alexander Y. Malcomson, a Detroit coal dealer, supplied the initial $28,000, while the Dodge brothers became stockhold- ers in return for providing chassis, engines and transmissions for the first Ford cars. By 1905, following a quarrel with Malcomson, Ford emerged in complete control of his com- pany. Three years later, the "Model T" was introduced. JAMES WARD PACKARD Packard Motor Car Company A 1953 share certificate with vignette Construction and Industry. James W. Packard graduated from Lehigh University in 1884 and started a successful light bulb manufacturing venture, the Packard Electric Company, in 1890. He subsequently got in- terested in automotive engineering in 1898, following the purchase of a defective Winton No. 12 car. By 1900 he began producing his own cars in Warren, Ohio, using a subsidiary called the Ohio Automobile Company. The company's rise to prominence started the following year, shortly after the 1901 New York automobile show. Greatly impressed by Packard's car, a group of Detroit capitalists headed by Henry B. Joy, son of railroad magnate James F. Joy, acquired control of the Packard Electric Company. The name was changed to Packard Motor Car Company, and production was moved to Detroit in 1903. That same year, a big four cylinder engine of over 730ci displacement was designed on European lines by Charles Schmidt, which led to the famous Model L, the first car to bear the classic Packard radiator. HENRY & CLEM STUDEBAKER Studebaker Corporation Brothers Henry and Clem Studebaker first opened a black- smith's and wagon building shop in South Bend, Indiana, in 1852. As the largest manufacturer of horse-drawn vehicles in the world, their company received lucrative government con- tracts during both the Civil War and World War 1. All in all, the firm produced more than 750,000 wagons over a 67 years period! Even though regular wagon production was carried on until 1919, experiments with electric "horseless carriages" began as early as 1898. The Studebaker Corporation was finally chartered as an offspring of the existing Studebaker Brothers Manufactur- ing Company in 1902. The well-funded venture produced its first motorcar two years later. A 1932 stock certificate featuring the original Studebaker blacksmith shop. The Studebaker brothers never claimed to be engineers, but they were good marketers! Recognizing their limited techni- cal expertise, they initially bought most of their engines and chassis from the Garford Manufacturing Company of Elryria, Ohio. The bodies were then added in South Bend, and the cars were marketed through their established network of wagon dealers. The Studebaker Corporation finally bought out its suppliers in 1910 and absorbed the original wagon manufacturer in 1911. By then, its automobile activities were all consolidated under one name, with factories in South Bend and Detroit. PRESTON T. TUCKER Tucker Corporation By the end of the Second World War surveys revealed that the #1 priority for the American consumer was to buy a new auto- mobile ... and engineer Preston T. Tucker was about to create just the car they wanted! He envisioned a radical new design featuring a central steering wheel, disk brakes, padded dash, front passenger crash compartment, pop-out windshield, three headlights, and mobile front fenders synchronized with the wheels. His new "Torpedo" was also to include a flat opposed 589ci engine and a rear wheel double torque direct drive sys- tem. Tucker chartered his Tucker Corporation in 1946 and worked with former Auburn-Cord-Duesenberg stylist Alex Tremul is to make his dream a reality. He soon published an article show- STOCK SEARCH INTERNATIONAL • Your Source for Collectible Stocks & Bonds • ulltabYforYour FREE ilustideticatalogl Stock Search International, Inc. 4761 W. Waterbuck Drive • Tucson, AZ 85742 1-800-537-4523 BUYING and SELLING PAPER MONEY U .S . , All types Thousands of Nationals, Large and Small, Silver Certificates, U.S. Notes, Gold Cer- tificates, 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 47906 SPMC #2907 ANA LM #1503 Paper Money Whole No. 192 Page 195 ing the low, long and luxurious styling of the Torpedo along with its safety and performance features. The new car was an instant success, with more than 3,000 orders placed by the end of 1948. Unlike earlier automobile manufacturers, the flamboyant Tucker marketed his product well before he could deliver .. . and he had no operating funds! Moreover, since his idea di- rectly challenged the ultra conservative products of the cur- rent automobile industry, bankers were reluctant to support his Chicago based venture. In the end, Tucker was forced to finance himself by selling capital stock. Robert Pierce was already one of Preston Tucker's larger shareholders with ownership of 40,000 "Tucker B Stock," and arrangements were made with certain of his associates to allo- cate stock in lieu of salaries and reimbursements for expendi- tures. However, most of the financing came from the "Tucker A Stock," which was offered to the general public. Unfortunately, the production models had major problems and many of the desired features had to be abandoned. The initial Tucker Torpedo was never really produced, becoming instead the Tucker '48 sedan. Tucker, Pierce and four other as- sociates were soon charged with fraud, but they were eventu- ally acquitted. The Tucker Corporation itself was finally dissolved in 1950, having only produced 51 automobiles. Although the total number of American car manufacturers might never be accurately determined, it is believed that more than three thousand makes of cars and trucks have been built by some fifteen hundred identifiable companies since 1897. As we celebrate the automobile industry's first century, it is interesting to note how America has always kept its "horseless carriages" history alive through collectibles. However, financ- ing instruments such as stocks and bonds, the very fuel of the whole industry, have only been introduced to collectors a few years ago. Pierre Bonneau is the Chief Executive Officer of Stock Search Interna- tional, Inc. and founder of the "Old Certificates Collectors Club." TEXAS (Continued from page 192) eluded in the cemetery. He was buried in the exact center of this tract. After Smoot's death, R.M. Collins operated his store. REFERENCES Bieciuk, H. and H.G. "Bill" Corbin. (1961). Texas Confederate County Notes and Private Scrip. Bates, E.F. (1976). History and Reminiscences of Denton County. Denton: Terrill Wheeler. Bridges, C.A. (1978). History of Denton, Texas. Waco: Texian Press. Medlar, B. (1968). Texas Obsolete Notes and Scrip. Society of Paper Money Collectors, Inc. Rothert, M. Sr. (1985). Arkansas Obsolete Notes and Scrip. Society of Paper Money Collectors, Inc. (Note: Information about M. Mayer and Bro. and their scrip attributed to Eric Newman.) Contest Announced The California National Currency Collectors (CNCC) will award an uncirculated California bank note to the person who submits the best CNCC logo. Submit designs to: CNCC Logo Contest, P.O. Box 361, Los Alamitos, CA 90720. Inquiries may also be sent to uspaper@compuserve.com . Page 196 Paper Money Whole No. 192 The Starts Here A Primer for Collectors by GENE HESSLER A LTHOUGFI portraits of famous women are being placed on paper money from countries all over the world, the United States remains among the minority of nations who have not been so forthcoming. The criterion for representation on United States paper money, with very few exceptions, has been some affiliation with government or the military. Since women do not share that long history with men, it will probably be a long time, if ever, until we see the likeness of a female on our paper money. In the fall of 1994, Ray Suarez, the learned host of "Talk of the Nation" on National Public Radio discussed the forthcom- ing changes on our paper money that might include different portraits. While interviewing representatives from the U.S. Trea- sury and the Bureau of Engraving and Printing Mr. Suarez re- marked that the likeness of a woman had never been placed on our paper money. The statement went unchallenged. The portrait of Martha Washington, a Virginian, appeared on two different silver certificates: the face of the ones dated 1886 and 1891and the back of the 1896 series. She shared the back of the latter with her husband George on which there is a large "1" and "one" between them. This has prompted the of- ten, perhaps too often, quoted remark that both Martha and George were wrong about their mutual affection when they said that "no one would ever come between them." Building in Washington, DC. Each of these eight paintings was engraved in miniature and placed on the backs of first charter national bank notes. In this much-admired painting John Rolfe, her future hus- band, stands behind Pocahontas as she kneels with head bowed and overtly accepts Christianity; behind Rolfe is Chief Powhaton, father of Pocahontas. John Rolfe was the grandson of Eustace Rolfe. His money helped to build the English ships that defeated the Spanish Armada. Every school child has heard of the incident when Pocahontas flung herself over the body of Captain John Smith in order to save his life from hostile members of her tribe. This tale, as we have learned, is more legend than fact. John Smith was the leader of the Jamestown, Virginia settlement. Pocahontas did not share the hostility of many of her people. Perhaps it was her kindness, in addition to her beauty, that attracted John Rolfe. Before they were married on April 5, 1614 it was necessary for Pocahontas to accept the Christian faith. Since she could not read or write, Pocahontas memorized the lengthy, necessary prayers and the Ten Commandments that were prerequisites for her baptism. When this Indian princess was accepted into the Church of England, she took the name of Rebecca. John Rolfe had arrived in the New World in 1610. On June 12, 1616 he, his wife and their son Thomas landed in Ply- mouth, England; they had sailed aboard the Treasurer. Matachanna, Pocahontas' sister, an uncle and two brothers were part of the small party that accompanied John and Rebecca to England, where Rebecca was entertained by the Bishop of London. On March 21, 1617, days before John Rolfe, his family and party were about return to America, Pocahontas became ill and died. She was buried at St. George's Church, Gravesend, in Kent. Two stained-glass windows in the church honor Pocahontas; one is similar to her baptismal image on the $20 note. These windows were presented by the Society of Colo- nial Dames of Virginia in 1914. On October 15, 1958 the people of Virginia presented a bronze statue of Pocahontas to the church where she was buried. Although she is the central figure and the image is small, there is a famous native American, another Virginian, whose image appears on a 19th century U.S. national bank note. This female known to all of us since our grammar school days is Pocahontas (the playing one). The back of the first charter $20 national bank notes includes an engraving of The Baptism of Pocahontas by John G. Chapman. Charles Burt's engraving for American Bank Note Company is based on the large mural- like oil painting that measures 14 x 20 feet. With seven other historical paintings it adorns the Rotunda of the U.S. Capitol There are other memorials to this native American female whose tiny image graced one of our 19th century bank notes. One is at the church of St. Mary the Virgin in Heacham, Nor- folk, where the Rolfe family worshiped for centuries; another is in the village of Heacham. The date of birth for Pocahontas is uncertain; however, it is most often assumed to be about 1595. Consequently, 1995 could have marked the 400th anniversary of her birth. (Copyright story reprinted by permission from Coin World, March 27, 1995.) Paper Money Whole No. 192 Page 197 gkOlffl the Tobettt Pod g(es dog g[sy The painting was executed by Hans Holbein the Younger (1497-1543). National Geographic states, "When the Refor- mation slowed the demand for church art, the scholar Erasmus sent Holbein, his German protege, from Basel to London with a letter of introduction to Sir Thomas More. As a portraitist, I lolbein cultivated the Hanseatic merchants of the Steelyard, the German house beside the Thames. Their symbol, the steel- yard, or scale, here hangs from a shelf. "Holbein, who loved details, pictured this Danzig trader surrounded by the tools of his trade: money box, inkstand, quill pens, seal, and scissors. A metal ball for string calls to mind the old-fash- ioned grocery. A leather container sug- gests the modern brief case. The carnations shows no change in four cen- turies "Eventually Holbein became Henry VIII's court painter, but royal connec- tions did not save him from an un- known grave. He died in a London p 1 ague. " HE gent on this German 100,000 mark Reichsbank- note from 1923 is identified as Jerg Gisze. Varieties on the spelling of his name include Gisse, Ghisse, and (Latin) Gysen; however, in the portrait appearing in National Geographic magazine, the letter in his hand is from his brother, and is addressed to "Jerg Gisze." MAY I SEE SOME IDENTIFICATION, PLEASE? Submitted by BOB COCHRAN The Peoples Bank of Indianapolis, Indiana celebrated its 100th Anniversary in 1991. The president of the bank, William E. "Mac" McWhirter, represents the fourth generation of this fam- ily to preside over this bank. In the Winter 1991 issue of "Customer Connection," the bank's newsletter, McWhirter recounted the story of one of the bank's "special" customers: "The bank's assets were $325 million at the close of 1990, but it does have the quirks of a smaller operation, such as Brownie, a cat with a checking account who lived in the Peoples Bank building in the 1970s." "We even had a signature card for Brownie. I inked Brownie's paw on the signature card. And when vet bills came in, we filled out the check, went down and inked Brownie's paw, and rolled it over the signature block—and the check paid." SHORT SNORTER COMMENT John Gavel informs us that according to the Blockbuster Video Guide to Movies and Videos, the movie "Pilebuck," mentioned in PAPER MONEY No. 191, was released as "Having a Wonderful Crime." T Page 198 Paper Money Whole No. 192 THE PRESIDENT'S COLUMN It's difficult to imagine that 1997 is drawing to a close. Judging from what I saw, what I read, and what I've been told by many of you, the market for paper money is HOT! I hope everyone had as good a year as I've had; I managed to find a few pieces, but it took some work. But, as always, it was FUN! I emphasize the word "FUN," because that's really the ONLY basis for the existence of the SPMC. What's FUN? How about the pleasure of sharing your new "goodies" with a friend in a corner at one of the big shows? I was at Knight's Dallas auction in August; I believe one guy bought every single note from Laredo in that sale. When he won the last lot, he was pumping his fist, excited as heck, having FUN! And most everybody in the room was happy for him. If you weren't one of the top 100 or so folks attending the SPMC Breakfast in Memphis, you missed one really good time! We truly did have a lot of FUN, thanks in no small part to our own Wendell W. Wolka (aka World-Wide-Wendell). The annual SPMC Mem- phis Breakfast was a sellout this year, and the "Tom Bain Raffle" was one heck of a lot of FUN for everyone who stuck around! Guess what? If the good Lord's willing and the Mississippi don't rise, we're gonna do it AGAIN! If you're in the neighborhood, buy your tick- ets and come on in! By the way, a significant event took place at the SPMC Breakfast: the selection of Mart Delger as a Numismatic Ambassador by Krause Publications and the other Numismatic Ambassadors! What FUN it was for Mart to receive this wonderful recognition—incredibly well-deserved! If you've been to the Memphis show and looked through the wonderful exhibits, find Mart Delger and thank him for taking the time to arrange, schedule, and coordinate the exhib- its. Mart's only been seeing to it that Memphis-goers have some FUN with the exhibits for nearly twenty years! It was also FUN to hear the names of the SPMC Literary Award winners this year; "old reliables" like Forrest Daniel, "newcomers" like Ronald Benice and Steve Goldberg. These members, and the others who put forth their writing efforts to educate and entertain all of us, deserve another solid "thanks" from each and every SPMC member. While I'm thanking people, I'd like to thank Judith Murphy for getting our Club Activities program off the ground. Judith has put in a lot of hours this year arranging and hosting SPMC meetings at several shows. Judith also put into motion the steps leading up to SPMC's new slide presentation about paper money and financial documents. This new slide set and some older ones are available to YOU if you'd like to make a presentation to your local club! Doesn't that sound like FUN? One more loud "THANK YOU" needs to be sounded. To Frank Viskup, SPMC's top recruiter! Thank you, Frank, we really appreci- ate your work! Want to have some FUN in 1998? Here are some suggestions: (1) Take a copy of PAPER MONEY to your local numismatic club and tell everyone about it and the SPMC. (2) Attend one of the many SPMC regional meetings being held at the shows around the country. (3) How about VOLUNTEERING to host an SPMC meet- ing and make a presentation at your club's annual show? (4) How about signing up a new member or two for the SPMC? Today, a serious paper money collector or dealer who can't reach half a dozen new collectors is either lazy or a hermit! (5) If you truly live in a place where there are no other collectors to recruit, why not pass away some of the nasty weather writing a few articles for PAPER MONEY? Finally, if you're a regular member, your 1998 dues statement is enclosed with this issue of PAPER MONEY. I hope you'll send in your dues promptly. If you don't, you're liable to miss out on the FUN we're planning for you in 1998! Happy Holidays. Call for Nominations for 1998 The following governors' terms expire in 1998: Raphael Ellenbogen, Dean Oakes, Steven Whitfield and Wendell Wolka. If you have suggestions, or if the preceding governors wish to run for another term, please notify Bob Cochran, President of the SPMC. In addition, candidates may be placed on the bal- lot in the following manner: (I) A written nominating petition is submitted, which has been signed by ten current members. (2) An acceptance letter from the person being nominated is submitted with the petition. Nominating petitions (and accompanying letters) MUST BE RECEIVED BY THE PRESIDENT BY JANUARY 15, 1998. Biographies of the nominees and ballots for the election will be included in the March/April 1998 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 biog- raphy to the editor, Gene Hessler. Unless new information is sent, the editor will use the same portraits and biographies of those who seek another term as governors as were used in the past. Awards at the 1997 New York ANA The following paper money exhibitors were recognized by the American Numismatic Association (ANA) in August. U.S. Paper Money: 1st, William H. Horton, Jr., "Silver Certificates of 1899"; 2nd, no award; 3rd, Ralph W. Ross, "Two Dollar Bills." Obsolete Paper Money: 1st, John W. Jackson, "America's Eagle"; 2nd, Gerald L. Kochel, "A Type Set of Colonial Notes by A. Hubley"; 3rd, no award. World Paper Money: 1st, John Zabel, "Two Uncommon Heroes"; 2nd and 3rd, no awards. General or Specialized: 1st, Mark D. Tomasko, "Western Bank Note Company"; 2nd, no award; 3rd, John A. Parker, "J.S.G. Boggs and His Paper Money." Young Numismatists Award, 1st, Michael Horton, "1951 Issue of the People's Republic of Bulgaria"; 2nd and 3rd, no awards. John W. Jackson also shared the First-Time Exhibitor Award for his "America's Eagle" exhibit and was runner-up for the Best-in-Show Award. Once again PAPER MONEY was selected by the ANA as the Best Club Magazine. All contributors are to be congratulated. SPMC Slide Presentation A History of Paper Money, a slide presentation and script, pre- pared by Gene Hessler for the SPMC, may be borrowed by members from the librarian, Roger Durand. This 63-slide pro- gram is an excellent way to introduce people to the joy of col- lecting paper money. Multiple sets have been made. Nevertheless, there could be a waiting period. So, place your order well in advance of the date you require the slides. Paper Money Whole No. 192 Page 199 IN MEMORIAM Harold Clark Johnson, H.C. to his friends, was born in Tuscumbia, Missouri on 20 March 1920. H.C. died on 11 August 1997 in Jacksonville, Florida, where he had lived since 1959. He attended the University of Mis- souri and worked at Curtis Wright Airplane Manufac- turer as a payroll supervisor during World War II. H.C. was interested in all aspects of money, includ- ing its history, manufacturer, distribution, accumula- tion and management. After 23 years at C.I.T. he joined Barnett Banks of Florida in 1968 as the second full-time employee; H.C. retired in 1988. He pioneered Barnett's entry into the consumer loan business and Bank Americard, a forerunner of VISA. He was Barnett's chief lobbyist in Tallahassee and Washington, D.C. He firmly believed that each of us makes our own opportunities, and he lived his life accordingly. Dee, his wife and friend for 48 years, his family and friends will miss H.C. (Carling Gresham) NEW MEMBERSHIP COORDINATOR Frank Clark NEW P.O. Box 117060Carrollton, TX 75011 MEMBERS 9260 David Heim, P.O. Box 992, Berthoud, CO 80513; C. 9261 Peter J. Romano, 39 S. Middle Neck Rd., Great Neck, NY 11021; C&D, U.S., CSA & world. 9262 Tim P. Keo, 26620 Lake Rd., Bay Village, OH 44140; C. 9263 A. Chris Gould, 9-B Dennison Dr., E. Windsor, NJ 08520; C, NJ obsoletes & NBN, world. 9264 Patrick McCann, 215 W Canada Ave., Suite A, San Clemente, CA 92672-5000; C, U.S. lg. size notes. 9265 David J. Lynch, 13217 Tifton Dr., Tampa, FL 33618; C, Ig. size gold & sil. certs., railroad notes and nat. gold bank notes. 9266 Tim Mabee, 4 Liberty Dr., Saratoga Springs, NY 12866; C, Saratoga Springs and NY notes. 9267 Richard T. Gregg, P.O. Box 430, Hackensack, NJ 07602-0430; C. 9268 R.I. Corsiglia, 2655 Garfield, Highland, IN 46322; C. 9269 David Reidling, 3413 Brook Glen Dr., Garland, TX 75044-5455; C. 9270 Jeff Scherer, 2907 Cortez Rd., Jacksonville, FL 32446-0702; C, U.S. sm. size & errors. 9271 Louie C. Smith, 500 Bradley Ln., Dumas, TX 79029-3131; C, $2 notes. 9272 Andy MacKay, P.O. Box 9495, Tulsa, OK 74107; C. 9273 John H. White, P.O. Box 641, Massena, NY 13662; C, NY NBN. 9274 Thomas Bruman, 8892 Manley Rd., N.W., Alden, MI 49612- 9614; C, Lg. size NBN & Canada. 9275 L.Ron Doucette, 1412 Soplo Rd., SE, Albuquerque, NM 87123; C, world & U.S. 9276 F.S. Barringer, Jr., 3009 Mills Ln., Monroe, LA 71201; C, Lg. size low grade LI.S. 9277 Fred Southerland, 25 Summerhill Dr., Asheville, NC 28804; C, obsoletes. 9278 Rickey Kent, 20 Prince Arthur Ave., Apt. 21F, Toronto, Ontario Canada M5R1B1; C, Commemorative & replacement notes, British Commonwealth & world. 9279 John Condon, 4271 Wooddale Ave. South, St. Louis Park, MN 55416-3255; C, fract. & gold certs. 9280 Arthur E. Atwood, P.O. Box 1027, Rockaway Beach, MO 65740; C & D, NBN. 9281 Donald G. Iles, PSC 1005 Box 37, FPO AE 09593; C, sm. size, fract. & CSA. 9282 Edward McConnell, Jr., 28 W. Front St., Florence, NJ 08518; C, Lg. size notes. 9283 Daniel Whishnatsky, P.O. Box 19348, Washington,D.C. 20036; C, Fracts., NBN & scrip. 9284 John R. Varoscak, 116 Central Park South, New York City, NY 10019; C, U.S. Lg. size. 9285 Thomas J. Gannon, 1460 Cornell Terrace, Hoffman Estates, IL 60194; C, WWII military currency. 9286 Christopher S. Goshom, 5125 North Dr., Moss Point, MS 39563- 2013; C & D, Lg. size U.S. 9287 Edward Gurley, 4732 Radcliff Rd., Raleigh, NC 27609; C. 9288 Michael FI. Deich, 314-B Mall Blvd., Savannah, GA 31406; C&D, NBN & Ig. size notes. 9289 Kenneth Brady, P.O. Box 663, Port Jefferson, NY 11777-0663; C, NBN. 9290 Bill Webster, 19 Bonnie Dr., Westbury, NY 11590; C, NY obso- letes. 9291 Randy K. Vogel, P.O. Box 4554, Laguna Beach, CA 92652; C U.S. & Mohawk, NY NBN. 9292 Howard Weisberg, 5103 Coke Ave., Lakewood, CA 90712; C. 9293 Hollis O'Neal Jr., 5201 Larkway, Nashville, TN 37211-6060; C 9294 Jim McCardell, 158 County Route 357, Medusa, NY 12120-2004 C. 9295 William L. King Jr., 9 Hoyt Rd., Sherman, CT 06784; C. 9296 Robert A. Quinn, 1366 Center St., McKees Rocks, PA 15136- 1905; C, U.S. 9297 Alexander Delatola, 243 W. 98th St. 5A, New York, NY 10025; C&D, U.S. 9298 David Spencer, Unit 5116, APO AA 34038; C, Sm. size star & web notes. 9299 H. Hal McKinney, 627 N. Main, Rockville, TX 76567; C, Texas, C.S.A. 9300 David Mattingly, 6706 Township Tr., Austin, TX 78759; C. 9301 Harold E. Thomas, 806 E. Jersey Rd., Lehigh Acres, FL 33936- 6422; D, paper money, banks and banking lit. 9302 Todd M. Morgan, 1331 Monaco Dr., Pacific Palisades, CA 90272; C. 9303 Michael S. Jones, P.O. Box 560114, Miami, FL 33256-0114; C, Florida and Southern states. 9304 Raymond Gambale, 158-05 83rd St., Howard Beach, NY 11414; C. 9305 C. Douglas Thom, 5505 S. Brister Cr., Murray, Utah 84123; C, U.S. lg. size & error notes. 9306 Roscoe Yoder, POB 128-102 Lincoln, Denton, KS 66017; C, U.S. 9307 Ken Sultana, P.O. Box 580422, Flushing, NY 11358-0422; C. 9308 Pete Sullivan, P.O. Box 177, Eldridge, CA 95431; C, lg. size high denom. 9309 Harris Whittenbeck, 722 E. 3rd #50, Florence, CO 81226; C, U.S. 9310 Steve Zettle, 554 E. Linden St., Fleetwood, PA 19522; C. 9311 William J. Slemmer, 1050 Springwood Dr., Fremont, OH 43420; C, silver and gold certs., MPC. 9312 Laura L. Slemmer, 1050 Springwood Dr., Fremont, OH 43420; C, error & star notes prior to 1935. 9313 William L. Reiser, 1926 Tice Valley Blvd., Walnut Creek, CA 94595; C, $2 notes and Lincoln portraits.9314 Jim Majoros, 65 16th St., Toms River, NJ 08753; C. 9315 John Carl Youngerman, P.O. Box 1703, Whiteville, NC 28472- 1703; C&D, NC, U.S.A. & C.S.A. 9316 Lawrence Eggert, 230 Continental Dr., Lockport, NY 14094; C. 9317 Sandy Kenar, 4451 Murietta Ave. #16, Sherman Oaks, CA 91423; C. 9318 Brian Zapatka, 1408 Valleybrook Ct., Grovetown, GA 30813- 9775; C, GA obsoletes. 9319 Louis Lenhard, Randolph-Macon Academy, 201 W. Third St., Front Royal, VA 22630; C. 9320 Clayton LaFountain, 288 Newfield, Hartford, CN 06106-3631; C. Page 200 Paper Money Whole No. 192 9321 Steve Sweeney, 5515 Vista Dr. Apt. 135, West Des Moines, IA 50266; C, IA NBN & lg. size notes. 9322 Terry Hughes, 4001 N. 9th St. #302, Arlington, VA 22203; C, U.S. 9323 Jack Seebra, 5500 Balboa Ct., Pinson, AL 35126; C, NBN & MPC. 9324 Michael Maclennan, 33562 Big Sur, Dana Point, CA 92629- 2004; C. 9325 Sylvere Valentin, 4140 Grandview Apt 7, Los Angelos, CA 90066. 9326 Michael Morine, 17300 E. 17th St. Suite 1-252, Tustin, CA 92780- 1955; C&D, U.S. 9327 Marc Napolitan, 1318 Forest St., St. Paul, MN 55106-2031. 9328 Thomas S. Costello, 13454 Bonita Heights St., Moorpark, CA 93021-2210; C&D, U.S. & MPC. 9329 William C. Tiedgen, 545 Compton Ave., Perth Amboy, NJ 08861- 3006; C, NI obsoletes. 9330 Greg Culpepper, 1101 Sydney Terrace, Mt. Juliet, TN 37122- 7558; C, all U.S. 9331 Eugene Kim, 1220 Freedom Rd., Freedom, PA 15042; C, Ig. size notes. 9332 Lawrence M. Clever, 1624 Glencoe Way, Glendale, CA 91208; C, U.S. lg. size notes. 9333 Robert Deininger, 7 Denver Ct., Coram, NY 11727; C, sm. size gold cert. 9334 Frank N. Harris, 824 N. Shepard, El Reno, OK 73036; C. 9335 David Cothran, 1019 N. Lindeke St., Spokane, WA 99201-1545; C&D, NBN. 9336 Roger E. Thomas, 12163 Sanibel Court, Reston, VA 20191-1209; C, Pakistan, India, Armenia, Russia. 9337 Larry W. Cotten, P.O. Box 5732, Cary, NC 27512-5732; C&D, NC & VA NBN. 9338 Ira A. Waldman, P.O. Box 46035, Chicago, IL 60646; C&D, U.S. and errors. 9339 Denis Novakovic, Pod Dridom 13, HR-21222 Marina, Croatia; C, world notes. 9340 Barry Broyde, 170 W. 74 St., NY, NY 10023; C, U.S. 9341 Anthony O'Neil, P.O. Box 159, Argyle, NY 12809; C&D, errors, sm. size notes. 9342 lay D. Watson, 30 Winchester Cyn. #106, Goleta, CA 93117; C, fract., Colonial through depression scrip, Mexican Rev. 9343 William R. Johnson, #15 Dixie Dr., Fenton, MO 63026; C. 9344 lay Weaver, 4017 15th St., Columbus, NE 68601; C. 9345 Marcus Turner, 389 Austin Dr., Avon, IN 46234; C. 9346 Richard Spieske, 17658 Mack Ave., Grosse Pointe, MI 48224; D. 9347 Li. McClellan, 8124 Long Point St., Houston, TX 77055; C&D, obsoletes, U.S., CSA, sheets. 9348 Bruce H. Axler, P.O. Box 1288, Ansonia Station, NY 10023; C. 9349 Lee Davis, 3317 Cardenas NE, Albuquerque, NM 87110; C. 9350 Sidney Karp, 547 Central Ave., 32B, Cedarhurst, NY 11516; C, U.S., Israel, Palestine, Great Brit. & colonies. 9351 Robert Ingersoll, P.O. Box 1775, West Memphis, AR 72303; C, U.S. & obsolete $ls & AR obsoletes. 9352 Dan Dorff, 5018 Laredo Pl., Alta Loma, CA 91737; C, U.S. 9353 Glenn H. Fishe, 300 College St. Apt. #34, Manchester, TN 37355; C, U.S. & obsoletes. 9354 Frank Boone, P.O. Box 481, Danbury, TX 77534-0481; C&D. 9355 Sharon K. Clark, P.O. Box 1032, Nashville, IN 47448; D. 9356 James W. Millegan, 111 SW 5th Ave., Suite 4090, Portland, OR 97204; C. 9357 Lyle Eads, 3 Emily St., Paris, KY 40361; C&D, Ig. size & fract. 9358 Allen Fletcher, 20543 Holly Cir., Strongsville, OH 44136; C. 9359 Mark T. Reichart, 1524 Bagdad Rd., Waterford, PA 16441; C, NBN. 9360 Izie Deshazo, Rt. 2 Box 520, Headland, AL 36345; C. 9361 Henry Yeager, P.O. Box 58, Royal, IA 51357; C&D, silver & gold cert. & U.S. notes. 9362 Charles Cortes, P.O. Box 44, NY, NY 10029; C, U.S. small size notes. 9363 Gary K. Gunstrom, 4520 Rathbun Lane, Stevensville, MT 59870; C, U.S. lg. size & C.S.A. LM226 Bill Lynch, 8014 SW 62nd Place, Portland, OR 97219; C, con- verted from 9112. LM227 Clark E. Nixon, P.O. Box 965, La Crosse, WI, 54602-0965; C, converted from 234. LM228 JeffTyler, 4074 S. Atchison Way, No. 103, Aurora, CO 80014; C, converted from 8713. LM229 Huston Pearson, Jr., 604-A W. Randol Mill Rd., Arlington, TX 76011; D, converted from 8793. Paper Money will accept classified advertising from members only on a basis of 15( 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 specialized material and disposing of duplicates. Copy must be non-commercial in nature. Copy must be legibly printed or typed, accompanied by prepayment made pay- able to the Society of Paper Money Collectors, and reach the Editor, Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231 by the first of the month preceding the month of issue (i.e. Dec. 1 for Jan./Feb. issue). Word count: Name and address will count as five words. All other words and abbreviations, figure combina- tions and initials count as separate. No check copies. 10 0/i) discount for four or more insertions of the same copy. Sample ad and word count. WANTED: CONFEDERATE FACSIMILES by Upham for cash or trade for FRN block letters, $1 SC, U.S. obsolete. John W. Member, 000 Last St., New York, N.Y. 10015. (22 words: $2: SC: U.S.: FRN counted as one word each) NYC WANTED: Issued NYC, Brooklyn obsoletes; issued/unissued ob- soletes from locations within present-day Manhattan, Brooklyn, Bronx, Queens, Staten Island. Steve Goldberg, Box 402, Laurel, MD 20725- 0402. (193) WW II MILITARY CURRENCY MY SPECIALTY! Periodic price lists for 55(t SASE; MPC, Philippine Guerilla, Japanese invasion, world coins-paper-stamps, U.S. coins-paper-stamps, Confederate, obsoletes, FRN, stocks-bonds. 702-753-2435. Edward B. Hoffman, P.O. Box 6039- 5, Elko, NV 89802-6039. (192) OLD STOCK CERTIFICATES! Catalog plus 3 beautiful certificates $6. Also buy! Ken Prag, Box 14817-PM, San Francisco, CA 94114. (415) 586-9386. (198) MASSACHUSETTS LARGE- AND SMALL-SIZE NATIONAL BANK NOTES WANTED from Buzzards Bay, Edgartown, Falmouth, Harwich, Hyannis, Nantucket, Tisbury, Provincetown and Yarmouth. Frank Bennett, P.O. Box 8722, Port St. Lucie, FL 34985. (197) WANTED: Bank/Banking Histories, Bankers Directories for personal library. Will send my "want" list, or offer what you have. Bob Cochran, Box 1085, Florissant, MO 63031. MARYLAND WANTED. Obsoletes and National Bank Notes from "The Howard Bank," "I loward Park Steam Cotton Factory," "Howard Street Savings Bank," and "National Howard Bank of Baltimore (Charter 4218)." I will pay a substantial premium above current pricing. Howard L. Cohen, 3170 N.E. Loop Drive, Otis, OR 97368. Tel: (541) 994- 8988; Fax: (541) 994-7189, or e-mail to ° lakeside@wcn.net ."" (195) WORLD PAPER MONEY WANTED. I buy collections, accumulations and better single notes. Ship with price or for my offer. I issue both retail and wholesale world paper money price lists, which are sent upon request. Richard L. Ainsworth, Box 42279, Las Vegas, NV 89116, FAX 702-878-4045. ROM /4:Ye kcee rilrio, s(X, D7099Ck"itiAnnffittifit# *gin, '-'- 22XE. WW2= ZULite= Y464;4041,1Er:steOtaa SERIE D70990 BOOKS FOR SALE SEND FOR FREE PRICE LIST C)C311351ff llerjkl.:11;:a 1* " kr/ /, .4%, \t,,j9.4i.3 SAMAStritAilhi' -- eM-4111011101134.) 13S1D T / 4 „ yr Paper Money Whole No. 192 Page 201 SUPERB UNITED STATES CURRENCY FOR SALE PAPER MONEY OF THE U.S. by Friedberg. 14th Edition. Hard Bound. $18.50 plus $2.50 postage. Total price $21.00. COMPREHENSIVE CATALOG OF U.S. PAPER MONEY by Gene Hessler. 6th Edition. Hard cover. 579 pages. The new Edition. $32.00 plus $3.00 postage. Total price $35.00. THE ENGRAVERS LINE by Gene Hessler. Hard cover. A complete history of the artists and engravers who designed U.S. Paper Money. $75.50 plus $3.50 postage. Total price $79.00. NATIONAL BANK NOTES by Don Kelly. The new 3rd Edition. Hard cover. Over 600 pages. The new expanded edition. Gives amounts issued and what is still outstanding. Retail price is $100.00. Special price is $65.00 plus $4.00 postage. Total price $69.00. U.S. ESSAY, PROOF AND SPECIMEN NOTES by Gene Hessler. Hard cover. Unissued designs and pictures of original drawings. $14.00 plus $2.00 postage. Total price $16.00. Stanley Morycz P.O. BOX 355, DEPT. M • ENGLEWOOD, OH 45322 937-898-0114 Page 202 Paper Money Whole No. 192 Pay over "bid" for many Pay over "ask" for some Pay over Hickman-Oakes for many nationals Pay cash - no deal too large. All grades wanted, Good to Unc. at 77, I can't afford to wait. Currency dealer over 50 years. A.N.A. Life #103 (58 years) A.N.A. 50-Year Gold Medal Recipient, 1988 P.N.G. President 1963-1964 A.M. KAGIN 910 Insurance Exchange Bldg. Des Moines, IA 50309 (515) 243-7363 Buy: Uncut Sheets - Frrors — Star Notes — Checks Confederate — Obsolete — Hawaiiana — Alaskiana Farly Western Stocks — Bonds, Ftc. LARGE.522E ONE HUNDRED DOLLAR NOTES 2T7 sire snifirsetewri.A. ISAR S 1591 — valuable data Great illustrations insider's info U. S. Paper American Automotive Stock Certificates Lawrence Falater 4=ik ri:EF PIERCE%) -Annan MOTOR CAR commit, OHICOGO YELLOW CAB COMPAMY.Ill DORT MOTOR CAR COMPANY Paper Money Whole No. 192 Page 203 Hot off the presses Comprehensive Catalog of Comprehensive Catalog of United States Paper Money by Gene Hessler is now available in an exciting sixth edition. Gene Hessler is the most respected scholar in paper money. His books are the best this one sets new standards! • insider's info • great illustrations • complete values • NOW FEATURING COLOR • most complete listings ANYWHERE • all Federal issues including errors, MPC, fractional and more • 576 pages, 6 x 9 format • softbound—ideal handbook at first edition price of $25 • hardbound reference book (limited printing) at $40 UNU Press 132 E. Second Street Port Clinton, Ohio 43452-1115-04 order via voice or fax 800 793-0683 also (419) 732-NOTE (6683) e-mail BNR Press@aol.com American Automotive Stock Certifi- cates by Lawrence Falater is an innovative new catalog featuring: • detailed listings • comprehensive values • hundreds of illustrations • standard numbering system • 400 pages • hardbound • large format • innovative horizontal design • $45, satisfaction guaranteed • Hot Contact List"' See your favorite dealer or call, write, fax, or e-mail us. Many other titles available. Mastercard. Visa, checks and even cash accepted. please include $4 per order for packaging and shipping. Dealer inquiries invited. Satisfaction guaranteed Page 204 Paper Money Whole No. 192 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. SPECIALIZING IN: q Colonial Coins q Colonial Currency q Rare & Choice Type Coins q Pre-1800 Fiscal Paper q Encased Postage Stamps SERVICES: q Portfolio Development q Major Show Coverage q Auction Attendance o EARLY AMERICAN NUMISMATICS c/o Dana Linett q P.O. Box 2442 q LaJolla, CA 92038 q 619-273-3566 Members: Life ANA, CSNA-EAC, SPMC, FUN, ANACS Pfe 1211010,0 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! Interested? Call 1-800-327-5010 for a Free Catalog or write e. ' < William Youngerman, Inc. Rare Coins & Currency "Since 1967" P.O. Box 177, Boca Raton, FL 33429-0177 Million Dollar Buying Spree Currency: Nationals MPC Lg. & Sm. Type Obsolete Stocks • Bonds • Checks • Coins Stamps • Gold • Silver Platinum • Antique Watches Political Items • Postcards Baseball Cards • Masonic Items Hummels • Doultons Nearly Everything Collectible COIN SHOP EST 1960 INC "1/44910.ady.i. 399 S. State Street - Westerville, OH 43081 1-614-882-3937 1-800-848-3966 outside Ohio 140 =7.1 -6'. IA A5.-2 LIN Member . 11 6A- M. SEND FOR OUR COMPLETE PRICE LIST FREE Fractional Foreign WANTED ALL STATES ESPECIALLY THE FOLLOWING: TENN-DOYLE & TRACY CITY: AL, AR, CT, GA, SC, NC, MS, MN. LARGE & SMALL TYPE ALSO OBSOLETE AND CONFEDERATE WRITE WITH GRADE & PRICE SEND FOR LARGE PRICE LIST OF NATIONALS SPECIFY STATE SEND WANT LIST DECKER'S COINS & CURRENCY P.O. BOX 69 SEYMOUR, TN 37865 (615) 428-3309 LM-120 ANA 640 FUN LM90 Paper Money Whole No. 192 Page 205 UZI ‘07r .-0 .D Third Edition by Don. C. Kelly The third edition of this standard reference on America's Home Town Paper Money has been updated and expanded. With over 600 pages and 200 illustrations, there are many new features, including chapters on uncut sheets, error notes, and counterfeits. Realistic evaluations and detailed population reports based on a census of nearly 200,000 nationals tell you how many notes have survived and what they're worth. Maps of each state show the locations of all towns which had note-issuing national banks. List Price: $100. SPMC members should be able to buy at a discount from many of the distributors listed below. See Gene Hessler's review on p 91 of the May/June 1997 issue of Paper Money. Allen's 399 South State St Westerville, OH 43081 (800)848-3966 Brooklyn Gallery P 0 Box 090-146 Brooklyn, NY 11209 (718)745-5701 Classic Coins P 0 Box 95 Allen, MI 49227 (517)869-2541 Commercial Coin 1611 Market St Camp Hill, PA 17011 (717)737-8981 Denly's of Boston 75 Federal St Rut 620 Boston, MA 02205 (800)443-3659 Emporium Coin P 0 Box 606 Moorhead, MN 56560 (800)248-9751 R A Glascock 120 Remount St San Antonio, TX 78218 (210)655-2498 Hartville Coin Exch 1015 Edison St Hartville, OH 44632 (330)699-3952 Fountain Square Stamp & Coin 27 Fountain Square Plaza Cincinnati, OH 45202 (513)621-6696 Hamp's Supply 9440 Old Katy Rd Suite 121 Houston, TX 77055 (800)258-8906 Harlan Berk, Inc 31 North Clark St Chicago, IL 60602 (312)609-0016 David Hollander 406 Viduta Place Huntsville, AL 35801 Lake Region Coin & Currency P 0 Box 48 Devils Lake, ND 58301 (701)662-5770 Las Vegas Rare Coin Galleries 3661 So Maryland Pkwy 9N Las Vegas, NV 89109 (702)732-8192 Louisville Numismatic Exch 527 South 3rd St Louisville, KY 40202 (502)584-9879 Lyn F Knight P 0 Box 7364 Overland Park, KS 66207 (913)262-7860 Metro Wholesale Supply 7880 A Washington Blvd Elk Ridge, MD 21227 (410)799-1111 NICS 122 South Grove Elgin, IL 60120 (847)695-0110 (847)695-0127 Numismatic & Philatelic Arts PO Box 9712 Santa Fe, NM 87504 (505)982-8792 William Panitich 855 Central Ave #103 Albany, NY 12206 (518)489-4400 Paper Money Institute P 0 Box 85 Oxford, OH 45056 (513)523-6861 Pollard's Coin & Stamp 5220 E 23rd St Indianapolis, IN 46218 (317)547-1306 Rare Coin Inv 22033 Kelly Rd Eastpointe, MI 48021 (810)773-9540 . Stanley Morycz P 0 Box 355 Englewood, OH 45322 (937)898-0114 SilverTowne P 0 Box 424 Winchester, IN 47394 (800)788-7481 Stone Mountain Supply 6820 Meadowridge Ct Suite A5 Alpharetta, GA 30202 (770)886-3418 Toledo Coin Exch 5590 Monroe St Sylvania, OH 43560 (419)885-3444 William Youngertnan P 0 Box 177 Boca Raton, FL 33429 (800)327-5010 kl:;)*010101-#44841*.* .;soritgigin% rs,uuiti.ftvcr.„ 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 (612) 423-1039 SPMC LM114 - PCDA - LM ANA Since 1976 sBC ,r2C A 6381 ' gum* itat.A013-Lat-o_a. MYLAR D CURRENCY HOLDERS PRICED AS FOLLOWS BANKNOTE AND CHECK HOLDERS SIZE INCHES 50 100 500 1000 Fractional 43/4 x 23/4 $16.50 $3000 $137.00 $238.00 Colonial 5 1 /2 x 3 1 /16 17.50 32.50 148.00 275.00 Small Currency 65/8 x 27 /8 17.75 34.00 152.00 285.00 Large Currency 7 7/8 x 3 1 /2 21.50 39.50 182.00 340.00 Auction 9 x 33/4 25.00 46.50 227.00 410.00 Foreign Currency 8 x 5 28.00 52.00 239.00 430.00 Checks 95/6 x 4 1 /4 26.50 49.00 224.00 415.00 SHEET HOLDERS SIZE INCHES 10 50 100 250 Obsolete Sheet End Open 83/4 x 14 1 /2 $13.00 $60.00 $100.00 $230.00 National Sheet Side Open 8 1 /2 x 17 1 /2 25.00 100.00 180.00 425.00 Stock Certificate End Open 91/2 x 12 1 /2 12.50 57.50 95.00 212.50 Map and Bond Size End Open 18 x 24 48.00 225.00 370.00 850.00 You may assort noteholders for best price (min. 50 pcs. one size). You may assort sheetholders for best price (min. 5 pcs. one size) (min. 10 pcs. total). SHIPPING IN THE U.S. (PARCEL POST) FREE OF CHARGE Mylar D° is a Registered Trademark of the Dupont Corporation. This also applies to un- coated 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 617-482-8477 Boston, MA 02205 ORDERS ONLY: 800-HI-DENLY FAX 617-357-8163 Page 206 Paper Money Whole No. 192 P.O. BOX 84 • NANUET, N.Y 10954 • INC. OBSOLETE CURRENCY, NATIONALS, U.S. TYPE, UNCUT SHEETS, PROOFS, SCRIP. BUYING / SELLING: Periodic Price Lists available: Obsoletes($3 applicable to order), Nationals, & U.S. Large & Small Size Type. PHONE or FAX BARRY WEXLER, Pres. Member: SPMC, PCDA, ANA, FUN, GENA, ASCC (914) 352.9077 BOOKS ON PAPER MONEY & RELATED SUBJECTS The Engraver's Line: An Encyclopedia of Paper Money & National Bank Notes, Kelly 45 Postage Stamp Art, Hessler $85 U.S. National Bank Notes & Their Seals, Prather 40 Comprehensive Catalog of U.S. Paper Money Paper Money of the U.S., Friedberg. 14th edition 24 Errors, Bart 35 Prisoner of War & Concentration Camp Money of the The Comprehensive Catalog of U.S. Paper Money, Hessler 40 20th Century, Campbell Small-Size U.S. Paper Money 1928 to Date, Oakes & 35 U.S. Essay, Proof & Specimen Notes, Hessler 19 Schwartz. Softbound 25 The Houston Heritage Collection of National Bank World Paper Money, 7th edition, general issues 55 Notes 1863-1935, Logan 25 World Paper Money, 7th edition, specialized issues 60 10% off five or more books / SHIPPING: $3 for one book, $4 for two books, $5 for three or more books. All books are in new condition & hardbound unless otherwise stated. CLASSIC COINS - P.O. BOX 95 - Allen, MI 49227 Life Member ANA 639 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 PO Box 30369 Cleveland, Ohio 44130 216.884-0701 .41F,, ivrzts:cti. 4. t 111E CAMP HILL `- NATIONAL tiAn CAMP HILL PENNSYLVANIA 74;.Wair6S;; ° F000126A o, 1101111111.111. ;11.° MEttilimittliklikinttliAktp* . 67431 043: • • 11.1ahl■ ■PSI ff M071p4.1.,..0!:+.; 1,11,07. 'Ll44:111, .4044, &ZOt CANADIAN BOUGHT AND SOLD • CHARTERED BANKNOTES. • DOMINION OF CANADA. • BANK OF CANADA. • CHEQUES, SCRIP, BONDS & BOOKS. FREE PRICE LIST CHARLES D. MOORE P.O. BOX 5233P WALNUT CREEK, CA 94596-5233 LIFE MEMBER A.N.A. #1995 C.N.A. #143 C.P.M.S. #11 HARRY IS BUYING NATIONALS — LARGE AND SMALL UNCUT SHEETS TYPE NOTES UNUSUAL SERIAL NUMBERS OBSOLETES ERRORS HARRY E. JONES PHILLIP B. LAMB, LTD. CONFEDERATE STATES OF AMERICA, HISTORICAL CONNOISSEUR Avidly Buying and Selling: CONFEDERATE AUTOGRAPHS, PHOTOGRAPHS, DOCUMENTS, TREASURY NOTES AND BONDS, SLAVE PAPERS, U.C.V., OBSOLETE BANK NOTES, AND GENERAL MEMORABILIA. Superb. Friendly Service. Displaying at many major trade shows. PHILLIP B. LAMB P.O. Box 15850 NEW ORLEANS, LA 70175-5850 504 -899-4710 QUARTERLY PRICE LISTS: $8 ANNUALLY WANT LISTS INVITED APPRAISALS BY FEE. Paper Money Whole No. 192 Page 207 OBSOLETE MOTES ■ ■ •■ ■ • ■ ■ ■ ■ ■ ■ • ■ ■ Also C5A, Continental & Colonial, Stocks & Bonds, Autographs & Civil War Related Material. LARGE CAT. $2.00 Ref. Always Buying at Top Prices RICHARD T. HOOBER, JR. P.O. Box 5116, f .Cey Largo, FL 33037 FM or Phone (305) 853-0105 1 Specialized in Poland, Russia E.Europe visit us: http://web.idirect.comt—pmoney/index.html tsluszki@netcom.ca uny & Sell Free Price List Tom Sluszkiewicz P.O.Box 54521, Middlegate Postal BURNABY B.C. CANADA V5E 4J6 A if 1111 WORLD PAPER MONEY TREAT YOURSELF TO THESE TWO! WE BOUGHT THE OVERPRINT!! REALLY GREAT BOOKS!! COLLECTING PAPER MONEY FOR PLEASURE AND PROFIT by Barry Krause. Covers Foreign & U.S. Paper Money, Stocks, Bonds Checks, A Comprehensive Guide for Collectors & Investors!! 250+ pp., Heavily Illustrated. Pub. at $22.00, Now $16.00 ppd. COLLECTIBLE AMERICAN COINS by Ken Bressell (Pres. ANA and Editor Redbook) Gorgeous oversized book full color throughout, details on all U.S. coin types, Colonials, Commem- oratives, 350 pp. Real Value — was $30.00, Now $18.00 ppd. Buy Both For Just $29.95 ppd. SANFORD DURST 11 Clinton Avenue Rockville Centre, NY 11570 USA Ph. 1-516-766-4444 • FAX 1-516-766-4520 • H = Hard Cover, S = Soft Cover • Shipping add $3.00 first, $1.00 each additional title. • NY State Residents — add sales tax. • Full book lists available: Foreign 800+ titles; LIS/Canada 500+ titles; Ancient/Medieval 500+ titles $1.50 each (postage); all $3.00 • Special Requests Honored. WANTED WISCONSIN NATIONALS 102.07+111■ WA.' "-VW X3477:13H 1. I 5779 4imocusuriorawn 'thr., C. Keith Edison P.O. Box 845 Independence, WI 54747-0845 (715) 985-3644 FAX (715) 985-5225 WANTED IN NEW YORK! 1ST N.B. Of TARRYTOWN CII #364 MOUNT VERNON N.B. CII #8516 A HANDSOME REWARD WILL BE PAID FOR THE CAPTURE AND SURRENDER OF EITHER 019 BOTH OF THE ABOVE ESCAPEES FRANK LEVITAN, 4 CREST AVE., LARCHMONT, N.Y. 10538 TEL 914-834-6249 Paper Money Whole No. 192Page 208 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. Con- sider selling your important notes and currency items in our upcoming auc- tion to be held in conjunction with the November Suburban Washington/ Baltimore Convention. The same bidders who helped set the world record prices in our recent sales (March in Baltimore and the Eliasberg sale in April), will compete for your currency items as well. Call Dr. Richard A. Bagg toll- free at 1-800-458-4646 to reserve a space for your material. It may well be the most financially rewarding decision you have ever made. Highlights from the March 1997 Halpern & Warner Collection A $100 One- Year Note, believed to be unique, realized $8,250 #4,0kia"*.NUMANki"Ax , 11401F111`1111 Natitnuti flank- OINAILICITIZTRID , )iriBatir iSHEINALMElhi'91.40gei ealize Top Market Price for Your Paper Money Highlights from the April 1997 Louis E. Eliasberg, Sr., Collection A cut sheet of four $10 Legal Tender notes. F-123 in Average New to Choice New realized $17,600. A $5 Federal Reserve Bank note. F-782* in EF realized $7,150. 00 I ..i An Uncirculated Lazy Two $2 note from the State of Missouri, Town of California realized $4,840. An Interest Bearing $5,000 Proof Note realized $11,000 Auctions by Bowers and M Box 1224 • Wolfeboro, NH 03894 • 800-458-4646 FAX: 603-569-5319 • www.bowersandmerena.com A $10 Silver Certificate. F-1700 in Gem New realized $8,800. YOUR FUTURE $UCCE$$ WITHOUT SPENDING A LOT OF CASH! a 1,11 Early Paper Money of America 4th Edition by Eric P. Newman Compile his- torical and descriptive data on American paper curren- cy from 1686 to 1800. Eric P. Newman has complete- ly revised and updated his popular book to include current values of all available bills. Hardcover • 8-1/2x11 • 480 pages • 930 b&w photos • 100 color photos • EPO4 • $75.00 c WORLD a ►►1 Credit Card Calls Toll free 800-258-0929 • Dept. P7NS Monday-Friday, 7 a.m. - 8 p.m. Saturday, 8 a.m. - 2 p.m., CST t'.`s1f our web site: I,ttp 1 , ww.krnuse.com Ws ‘ts4= [Mear_- [Mtps: Miespr: 1Ws‘= [MtPi- „, 3a ►„ Ora br 3a ►11 3a Or ►11 3a ►►1 3 3SL cd Cat, of Uni' Stat‘..,. Paper Money 16th Edition by Chet Krause & Bob Lemke, Robert Wilhite, Editor Put the latest values for more than 5,000 pieces of U.S. currency at your fingertips the next time you buy or sell. More than 600 clean sharp photos help you identify the notes of importance to you. Covers more than 184 years of U.S. paper money, including all new issues through the 1997 series. Not just a price guide, it's an encyclopedia reference to U.S. currency and national bank notes by type and signature vari- ety. A "must” for U.S. paper money col- lectors. Hardcover • 8-1/2x11 • 248 pages • 600 b&w photos • SP16 • $24.95 Standard Catalog of World Paper Money, General Issues Volume II, 8th Edition by Albert Pick Solidify your authority on world paper money. ►kl Albert Pick compiles 18,000+ listings 3 from 230 note-issuing authorities. The 0 only English language reference forpre-1960 international bank notes. ►1 Hardcover • 8-1/2x11 • 1,232 pages • git 10,000 b&w photos • PM08 • $55.00 11 Guide 4 Size U.S. Paper Money 2nd Edition by Dean Oakes & John Schwartz This new updated edition provides you with the most complete listings ever published for small-size U.S. paper money from 1928-1988, including higher denomi- nation notes and the new $100 bill. Updated serial number information and a complete overhaul of web notes coverage make it essential for serious collectors. The easy-to-use format features large type and well-spaced columns. More than 250 nearly full-sized photos help promote positive note identification with- out added eyestrain. Accurate prices are included in three grades of condition. Softcover • 6 x 9 • 400 pages • 250 b&w photos • HPO4 • $24.95 idard s log of ,Id Paper (a Money Volu Ill, ►hl Issues, 3rd Modern Edition by Colin R. al Bruce II & ► iS.George Cuhaj Find the latest valuations fora world paper money issues of the modern period, 1961 to date, in ►il this one handy reference. The newly updated 3rd edition features more than 375 note issuing authorities, and nearly 10,000 listings, including current issues and expanded signature charts, dates ,„ and varieties. Significantly more photos make identification a breeze. Alphabetical-by-country listings utilize the internationally accepted number system for easy attribution of notes. Named the IIK! Numismatic Literary Guild's Paper Money Book of the Year. Softcover • 8-1/2x11 • 736 pages • 6,750 3 b&w photos • WP03 • $34.95 a ►►1 250 years of specialized world paper ►11 money issues from more than 370 note-issuing authorities. More than 17,000 notes are cataloged and priced to cover your interests. Hardcover • 8-1/2x11 • 1,096 pages • 8,000 b&w photos • PS07 • $60.00 3 Standard Catalog of World .,aper money, necialized ►11 es Volume I, 7th Edition by Colin R. Bruce II & Neil Shafer, editors Focus on a [M‘ti=s- rni6;;;_ To order by mail send selection list and quantity with payment to: Krause Publications • Book Dept. P7NS 700 E. State St., Iola, WI 54990-0001 a Please add appropriate shipping, handling and state tax charges ‘Li as follows: Shipping & Handling: $3.25 1st book; $2 ea. addl. Foreign delivery rates. Sales tax: WI residents 5.5%, IL residents 6.5% addresses $10 1st book; $5 ea. addl. Call for Overnight or UPS itzt,tp.;-_- rot:* plot1;,.s: WEE