The paper money market took a brief hiatus after the Heritage
Auctions September sale in Long Beach, Calif., but it was not meant to
Activity resumed with the popular Wall Street Collector’s Bourse in
New York City on Oct. 21 to 23 at the Museum of American Finance. A
boutique show with limited tables, it still has a full range of paper offerings.
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On Oct. 22, it was also the venue for the first session of a
three-part collector-oriented sale by Archives International Auctions
of Fort Lee, N.J. Included on the first day of the diverse auction
were checks, ephemera, notes and bonds of the Confederacy, and United
States and world bonds and stock certificates. Another category
drawing interest was an extensive selection of security printer
advertising used by the entities to display samples of their work. The
second part of the sale consisted of world and United States paper
currency and was scheduled for Oct. 25 at the firm’s offices. The
third session was internet only.
Stack’s Bowers’ Baltimore auction
Two weeks later, from Nov. 3 to 6, Stack’s Bowers Galleries will
hold a 466-lot paper money auction at the 2016 Baltimore Winter Expo.
As has been usual lately, the top estimate belongs to a small-size
high-denomination note. In this case a Friedberg 2221-G Series 1934
Chicago district $5,000 Federal Reserve note in Paper Money
Guaranty Extremely Fine 40 Net, Repairs. Despite the defect, it is
estimated at $60,000 to $80,000. The catalog mentions that, in total
(combining Series 1928 and 1934), only 230 $5,000 Federal Reserve
notes are known today.
Series 1928 and 1934 $1,000 Federal Reserve notes are among those
that come in both dark green and light green Treasury seal varieties.
The dark version of the F-2211-K Series 1934 $1,000 note from the
Dallas district is fairly common as far as this denomination goes. The
light green seal version is another story, and a
note graded PCGS Currency Gem New 65 in the auction is one of two
known in such a high grade. It is expected to reach at least $30,000.
Among large-size Federal Reserve notes, the $1,000 note is the
highest value that is collectible, and despite a PCGS Currency grade
of just Very Fine 35 Apparent, Restorations, an example from the
Atlanta district (F-1133-F) is estimated at $25,000 to $35,000. It is
one of only nine reported.
A Series 1896 $2 silver certificate, known as an
“Educational note” (F-247), in PCGS Currency Gem New 66 Premium Paper
Quality is cataloged in the $12,500 to $17,500 range. The note in the
auction has a relatively low serial number of 117.
An unusual aspect of the Baltimore auction is that, based on
pre-sale estimates, the above two notes are the only large-size type
notes in the top 10. Five of the others are the classic Confederate
States of America rarities, including all four denominations of the
1861 Montgomery, Ala., issues: a PCGS Currency About Uncirculated 50
$50 and in the Very Fine range, the $100, $500, and $1,000 notes. PCGS
Currency says that they all show evidence of repairs. The two lower
denominations are estimated at a low of $15,000 each, and the others
at $25,000 each. The fifth CFA note is one of 140 known $5 Indian
Princess notes of 1861. It is graded PCGS Currency VF-25 Apparent and
is in the $20,000 to $30,000 range.
The most prominent national bank note in the sale is a discovery $5
Series 1902 Plain Back note, F-606, of The First National Bank of Vero
(Florida). It is the fourth example ever seen from this bank. PMG
grades the note “Very Fine 30 Net. Stained, Rust.” It has a $15,000 to
Lyn Knight auction
Another two weeks after the Baltimore auction is the 31st Annual
Professional Currency Dealers Association National Currency & Coin
Show in Rosemont, Ill., from Nov. 17 to 19. The event will have a
70-dealer bourse, club meetings, educational programs, and a
three-session Lyn Knight auction featuring world and United States