More paper money highlights from Stack's Bowers sale

By Arthur L. Friedberg

Published: Sep 2, 2018, 4 AM

Stack’s Bowers Galleries offered many rarities in its paper money auctions at the ANA convention in Philadelphia, including interest-bearing notes.

Original images courtesy of Stack’s Bowers Galleries.

From the John E. Herzog Collection was this set of mounted proofs of the F-211 $5,000 interest-bearing note. The set sold for $48,000.

Images courtesy of Stack’s Bowers Galleries.

A newly discovered uncut sheet of F-277 Series 1899 $1 silver certificates sold for triple its high estimate at $180,000.

Images courtesy of Stack’s Bowers Galleries.

A $5 note from the First National Bank of Ketchikan (Alaska Territory) was bid well past its $70,000 high estimate, selling for $90,000.

Image courtesy of Stack’s Bowers Galleries.

Part II of the Joel R. Anderson Collection of United States Paper Money, with its record-setting $9.65 million result, was not the only sale of paper money conducted by Stack’s Bowers Galleries at the American Numismatic Association World’s Fair of Money in Philadelphia.

The 112 lots in the John E. Herzog Collection of United States Treasury Bonds on Aug. 14 realized over $650,000, many of them multiples of their original purchase price. The highest winning bid was $48,000 for face and back proofs of a Friedberg 211 $5,000 interest-bearing note graded New 62 by PCGS Currency. The two proofs were mounted together on the same card.

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After the Anderson sale, on Aug. 16, another 375 lots of U.S. material hit the block. A newly discovered uncut sheet of F-277 Series 1899 $1 silver certificates with serial numbers 1-4, the first sheet printed for the Lyons-Treat signature combination, sold for triple its high estimate at $180,000 in About Uncirculated 50 Exceptional Paper Quality by Paper Money Guaranty.

A mismatched serial number error $100 national bank note from the Winters National Bank in Dayton, Ohio, brought $18,000. Also among nationals, the finest graded small-size Alaska Territory national, a $5 note from the First National Bank of Ketchikan (F-1800) called PMG Gem Uncirculated 65 EPQ * (for “exceptional eye appeal”), was bid well past its $70,000 high estimate, selling for $90,000.

The highest price realized for a single note in the session, and a bit of a bargain based on previous sales, was the $96,000 paid for an F-2407 Series 1928 $500 gold certificate in PMG Gem Uncirculated 65 EPQ, $1,750 less than what the exact same note sold for in 2008.

A sale of 269 lots of world currency was held on Aug. 14. Competition for the finest known Czechoslovakian 500-korun note of 1923 in PMG AU-55 came to a stunning conclusion. Estimated at $7,000 to $10,000, when all was done, it cost the successful bidder $40,800.

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