An assortment of high quality or rare large-size issues dominates the
upper end of the upcoming Stack’s Bowers Galleries currency auction in
Baltimore on Nov. 4 to 6.
Leading the way, after the unique Friedberg 212b interest-bearing
note (see separate story, page 1, with estimated prices of from
$30,000 to $40,000 each, are three iconic silver certificates, every
one graded Superb Gem New by PCGS Currency.
Friedberg 263, an 1886 $5 silver certificate, is the famous “Silver
Dollar Back note” with a numerical grade of New 66 Premium Paper
Quality. Next is a Series 1896 $5 “Educational note” (F-268) graded
New 67 PPQ.
The third is a Series 1899 $5 “Indian Chief note” (F-271), common in
lesser grades, but a rarity in Gem New 68 PPQ; PCGS Currency has given
this high a grade to only four of the more than 1,200 notes recorded,
and Paper Money Guaranty, to just one.
Connect with Coin World:
Also appearing in the upper level of silver certificates were two
F-245 Series 1891 $2 notes (depicting William Windom), each in Gem New
67, one graded so by PCGS Currency, the other by PMG.
A cut sheet of Series 1891 $20 Treasury notes (F-375) graded PMG
Choice Uncirculated 64 Exceptional Paper Quality is estimated at
$30,000 to $50,000. The group shows show A-B-C-D plate position notes
in consecutive order, recreating the sheet of four as originally printed.
At about $30,000 is a Series 1890 version of the $20 Treasury note
(F-372) graded Extremely Fine 40 by PCGS Currency. The intricate,
ornate backs of the Series 1890 notes make them popular today, but the
series was short-lived because of potential counterfeiting problems.
The last large size $10 United States note (F-123), the Series 1923
issue, which is called the “Poker Chip note” because it looks as if
there are two poker chips on the back, is another example a of a note
that becomes exceedingly rare in the highest conditions. At PMG Gem
Uncirculated 66 EPQ, this is one of only 20 at this level or higher
out of a known population of 515. Estimated in the same $25,000 range
is one of only 64 recorded $50 1869 Rainbow Note (F-151) graded Very
Fine 30 by PMG.
The auction also offers two Series 1861 $5 demand notes — the very
first federal currency issued.
The first is a newly discovered note payable at the Treasury Office
in Cincinnati, the scarcest of the five different locations. This is
only the sixth known F-4 note and, even graded by PMG as a lowly
Choice Fine 15 Net with tape repairs, it is the finest known. It is
estimated at $12,500 to $17,500.
The other demand note, with the same estimate, is an F-5 issue
payable at St. Louis and rated PMG VF-20 Net with minor repairs. It is
one of nine known.
In total, 33 lots in the 839-lot sale have a low estimate, each, of
at least $10,000.