Paper Money

Newman Collection 1890 $100 Watermelon note estimate at $150K

A Series 1890 $100 Treasury note (nicknamed a Watermelon note for the resemblance its zeros have to watermelons) that is one of only 35 in existence, according to the auction lot description, will cross the block at the CSNS show in April.

Images courtesy of Heritage Auctions.

Deep pockets will be tested April 22 as an auction at the 2015 Central States Numismatic Society Convention near Chicago will feature some extremely rare U.S. notes from the Eric P. Newman Collection. 

Among the notable items is a Series 1890 $100 Treasury note,  nicknamed a Watermelon note for the resemblance the zeros on the note's back have to watermelons. The note is described in the lot description as one of only 35 said to be in existence. It is estimated to bring $150,000 at the CSNS convention.

$50/$100 double denomination Brown Back national bank note from Kansas City, Mo., is expected to realize at least $100,000 when it is offered for the first time in 70 years. The note is one of only two known $50/$100 double-denomination notes, and the first to be sold at public auction since June of 1945.

"The coveted Eric P. Newman Collection pedigree has set the standard in coins and we expect a similar response when these rare and truly historic pieces of currency are finally brought to public auction — in some cases for the first time in their history," Heritage Auctions Director of Currency Auctions Dustin Johnson said. 

The auction of items from Newman's collection will also feature a face proof of a $1 note featuring a Santa Claus vignette, from the Central Bank of New Ulm, Minn., graded Very Choice New 64 Premium Paper Quality by PCGS Currency, that is expected to bring at least $25,000; a serial number 1 obsolete $1 note from the Dubuque Branch of the State Bank of Iowa, graded Extremely Fine 40 by PCGS Currency; and a face proof of an obsolete $2 note from the Wisconsin Bank of Madison, graded Superb Gem New 67 PPQ by PCGS Currency.

The CSNS show runs through April 28.

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