Insights

Two brothers, involved in many businesses together, issued their own notes during the 1800s in Indiana

Collecting Paper column from the June 23, 2014, issue of Coin World
By , Special to Coin World
Published : 06/08/14
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As some of you may know, I am in the process of selling in various Heritage Auctions sales my reference collection of Ohio obsolete notes.

Being a hopelessly addicted collector, as soon as Ohio began “receding from sight in my rear view mirror,” the first thought was what the next challenge would be.

The answer came quickly.

I presently live in Indiana, have written a state catalog on the state’s obsolete notes in 1978, and am finishing a long overdue update of same.

So, from a collecting perspective, it looks like it’s “Back home again, in Indiana” for my obsolete paper money collecting efforts.

In reviewing the manuscript for the new catalog, I happened upon a rather attractive note issued by T. & J.W. Gaff of Aurora, Ind.

The issuer didn’t ring any bells with me originally and didn’t show up in any of the state records that normally provide a fair amount of information on the state’s Free Banks and State Bank branches.

Thanks to the marvels of the Internet, this knowledge vacuum was soon filled.

Thomas and James W. Gaff were brothers who moved their distillery business from Philadelphia to Aurora in 1843.

They were also engaged in a wide variety of other businesses including a foundry and machine works, Nevada silver mining, merchandising, turnpike and canal building, steamboat operation, farming, and banking.

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