Paper Money

Sedwick May sale offered a mixture of Early American notes

The Daniel Frank Sedwick LLC May 27 to 29 Treasure Auction, conducted by internet only, from the firm’s offices in Winter Park, Florida, contained a broad assortment of paper money in addition to the expected Spanish Colonial, Latin American, and shipwreck coinage.

The finest known Continental Currency $2 note from the first issue, dated May 10, 1775 (Friedberg CC-2), sold for $2,023 including the buyer’s fee. It was graded by Paper Money Guaranty as Choice About Uncirculated 58 Exceptional Paper Quality with a Star designation (indicating exceptional eye appeal). It had an estimate of $800 to $1,200. The previous finest known example in the PMG census was an About Uncirculated 55 EPQ note.

Another popular early issue was a South Carolina $90 note dated Feb. 9, 1779 (F- SC-158), graded PMG Choice Extremely Fine 45. The intricate reverse design of Hercules subduing the Nemean lion, the first of his 12 labors, was engraved by Thomas Coram and is a popular Colonial type note. After what the firm describes as spirited bidding, it sold for $1,223 on an estimate of $700 to $1,000.

The top world note sold was a rare 1884 Banco de Boyaca 10-peso note from Tunja, Colombia, graded PMG Fine 12. It sold for $6,545 on an estimate of at least $5,000. As a small institution, the Banco de Boyaca issued a meager amount of notes for a short period from its opening in 1881 until 1886. This is one of just two surviving examples known.

A pair of misprinted Cuban 50-peso notes realized $1,071 on a combined estimate of $450 to $675. The first was a 2008 note graded PCGS Currency AU-55 Premium Paper Quality featuring a fold-over error, leaving a large paper fin containing part of another note and the printer’s guidelines. The second was a 2015 example graded PMG Choice Extremely Fine 45 printed over an obstruction, leaving a large part of the vignette of Calixto García Íñiguez unprinted.

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