Insights

Depth, quality of ANA auctions may mark the start of a new golden age in U.S. paper money collecting

Paper Money Market Analysis column from the Aug. 4, 2014, issue of Coin World
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By , Special to Coin World
Published : 07/19/14
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Are we at the start of a new golden age in U.S. paper money collecting?

The depth and quality of the paper money offerings at the Aug. 5 to 9 American Numismatic Association World’s Fair of Money in Rosemont, Ill., seem to indicate an active and accelerating market.

The ANA named two official auctioneers for this year’s event, Heritage Auctions and Stack’s Bowers Galleries. Between them, millions of dollars’ worth of notes will find new owners within a span of just days.

Heritage’s exclusive Platinum Night Currency Sale offers approximately 160 lots with an estimated value of more than $2.5 million.

Stack’s Bowers Galleries expects to offer just under 500 live lots in its ANA sale along with around 200 lots in its Internet session. Their rough estimate for the total sale is around $6 million.

Heritage highlights

The highlight of the Heritage lots is the first piece of United States paper currency ever issued. It is one of only three known examples of Friedberg 7a (Paper Money of the United States by Arthur L. and Ira A. Friedberg), a serial number 1 Series 1861 $10 demand note.

This note, graded Paper Money Guaranty Very Fine 30, makes its first appearance on the market since 1970 when it was in a Sotheby’s sale.

Another Heritage lot is one of just four known Series 1934 $10 silver certificate replacement or star notes, F-2308*. The silver certificate was among those issued for use by U.S. troops in North Africa during World War II. The note, graded Very Fine 25 by Paper Money Guaranty, is expected to reach the high five figures.

Stack’s Bowers highlights

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3 comments
Sure, it's big for Stack's and Heritage, but what about the paper money dealers on the bourse what did they see? If you are going to posit such a question, make it a real story with some research rather than this narrow focus. I'm getting tired of the numismatic media mindset that seems to revolve around the big auction houses and record coins. Excessive focus on the biggest and best, trivializes the rest.
Very fine? I have certified fines that look better. Oh yes. The rare stuff gets higher grades. Still, I would love to have it. It would be a condition match for my 1934 North Africa $10.
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