Heritage Auctions presented its Fall U.S. Currency Obsolete Banknote Showcase Auction with a variety of notes that would draw interest on a number of fronts. The sale raised $159,022 among the 610 bidders vying for one of the 427 lots.

The top price realized was for a Republic of Texas $50 note dated Jan. 25, 1840, and graded Paper Money Guaranty Choice Uncirculated 64 Exceptional Paper Quality, tied for highest graded at PMG. The note at auction, which sold for $4,320 with buyer’s premium, featured a large star on the back and was pen endorsed from the period. The note was also “cut cancelled,” and the cataloger noted its bold printing, bright paper and exceptional margins.

A four-note specimen sheet from the Bank of Richmond dated in the 1860s secured the second highest sale price at $3,960. Another high price realized was for a featured remainder note from the Bunker Hill Bank of Charlestown that had sold nearly 25 years ago. Multiple punch cancellations provide insight into the efforts to keep the note from circulation. Heritage noted, “This artifact is likely unique and a key part of Obsolete Banknote history.” It sold for $1,920.

For the collector interested in obsoletes on a limited budget, nearly two dozen lots were sold at less than $100 with buyer’s premium. The sale provided an opportunity to find interesting notes that could be welcome additions to collections. An example was a Jan. 2, 1858, $5 note from the Swanton Falls, Vermont Union Bank that sold for $45.

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