Friday, July 27, 2012

From the Desk of Christine Karstedt: Attend the Pre-ANA Hosted by the Professional Numismatists Guild

By Christine Karstedt, Executive Vice President


I invite you to maximize your time in Philadelphia by attending the Pre-ANA Convention being hosted by the Professional Numismatists Guild, August 4th to 6th. The invitation below also allows you to participate in our spectacular auction for that event which will feature important collector coins and rarities across all series. And, you will get "first shot" opportunities, as many dealers will be setting up at the Pre-ANA show and staying on for the entire ANA week. August 4th through 12th will be an educational, exciting and hectic time for everyone with an interest in coins, paper money, tokens etc. Make your plans to attend for a day or two or more. It will be an event to remember. I hope to see you there.

All the best,


Chris

Upcoming Events: Stack’s Bowers Galleries Expands Your Purchasing Power at the Official ANA World’s Fair of Money Auctions!

Two Convenient Options to Choose from to Assist You With Your Purchases!*

Simply contact a Stack's Bowers representative for details and arrangements prior to making your auction purchases, either by phone, email, or visit us at the ANA World's Fair of Money. Read More

*This is not an offer to make a loan. All loans are subject to final approval. Please refer to www.cfccoinloans.com for complete terms. Special rates valid for Stack's Bowers Galleries and Ponterio Philadelphia August 2012 auction purchases only. Auction invoice required to finalize.            

Thursday, July 26, 2012

Upcoming Events: The August 2012 Hong Kong Auction

By Todd McKenna, Numismatist

The summer is here and with it the Stack’s Bowers & Ponterio August 2012 Hong Kong Auction. More than 2,200 lots will be presented across three beautiful catalogs and four days (Aug. 19-22) at the Mira Hong Kong. Within this auction collectors and buyers of all types will find fantastic rarities of Chinese coinage as well as rare and high grade offerings from all around Asia in coinage and paper money. In recent months we have highlighted some of these pieces in our Coin of the Week articles on the Stacks Bowers Galleries’ blog but those only scratch the surface of this immense and diverse sale.

Some of the most rare and interesting pieces in the sale can be found in the general issues from Imperial and Republican times. From the Imperial era are two different derivations of Long Whisker Dragon Dollar patterns, Lot 50035 being the earlier of the two (L&M-28) and graded PCGS SP-61 and Lot 50037 being the very next variety (L&M-29) and graded PCGS SP-63. Lot 50031 is another Imperial pattern with the denomination $1 (L&M-24) graded an impressive NGC MS-65. The Republican era offers some pieces of absolutely staggering beauty. At the top of these high grade lots is a 1916 Yuan Shih-kai Dollar (L&M-942) graded PCGS MS-66 and a stunning Year 9 (1920) Yuan Shih-kai Dollar (L&M-77) graded PCGS MS-67. Possibly the most impressive piece to be offered in this section however is the subject of a recent Coin of the Week blog.  Lot 50200 a Gold Standard Dollar pattern struck in copper and graded PCGS SP-63.

The Provincial issues section too is packed with coins rarely seen in such high states of preservation. One such piece is Lot 51435, a 3 Mace 6 Candareens from the Manchurian Provinces (L&M-488) graded MS-64. Also included here is a nice 7 Mace 2 Candareens from Anhwei (L&M-204) graded PCGS MS-63, Szechuan 7 Mace 2 Candareens (L&M-345) and 3 mace 6 Candareens (L&M-347) each graded PCGS MS-64 and a large character variety Hupeh Tael graded PCGS MS-64. From Kweichow we offer a lengthy run of the scarce 1928 “Auto Dollars” culminating in Lot 51430 graded PCGS AU-55. Rare copper pieces can be found here as well such as Lot 51233 a 1909 Honan 20 Cash pattern graded NGC AU-55. Among the highest graded pieces for provincials is Lot 51244, an exquisite Hunan Constitution Dollar graded NGC MS-66. Aside from coinage of the nineteenth and twentieth centuries we also present a strong section of sycee and ancient coinage featuring a highly diverse offering of silver sycee ranging from museum quality 50 Tael boat ingots to rare varieties of Yunnan tax ingots.

Outside of the focus of Chinese numismatics the selection of foreign coinage contains several rare and beautiful pieces sure to garner attention at the block. The Korean section in particular is very strong with many rare proof patterns from the 1880s. Of particular note is our Coin of the Week from May 24th , Lot 50394 a gorgeously toned 1889-A Piastre from French Indo-China graded NGC PF-66. Also in this section can be found a rare 1864 Thailand Royal Presentation 4 Baht of Rama IV graded by NGC as AU-55 and possessing much eye appeal due in large part to the lovely even toning spread across its large size. This section is also home to a large selection of high grade British Trade Dollars sure to nicely fill gaps in many collections.

Modern collectors will have plenty to excitedly bid on as well as we present a separate catalog for modern Chinese collectable coins. All the popular series are represented with page after page of Panda, Unicorn, Lunar Animal and Olympic series offerings just to name a few. One of the most exciting lots to be offered is number 52260, a massive 2004 10,000 Yuan Gold Panda from a mintage of just 68 pieces. Here too are the rare 1992 Inventions & Discoveries proof sets struck in both platinum and gold. Likely the rarest of the modern offerings is a matte finish 1988 Olympics Downhill Skier Pattern 5 Yuan graded PCGS PF-69. With a reported mintage of between just sixteen and twenty pieces bidding is sure to be fierce for that one.

An incredible array of currency will be found within the Paper Money session of the August 2012 Stacks Bowers Ponterio Hong Kong Auction. Banknotes issued throughout the mainland will be seen alongside important groupings of Hong Kong and French Indo-China. Several rarities which seldom appear at public offerings will be presented including One and Ten Dollar notes from the Sin Chun Bank of China series and also two denominations from the colorful Pei-Yang Tientsin Bank. Quality of material is high with several lots representing notes certified at the finest level according to current population data which has proven very popular among collectors. Designs which we have never previously handled are numerous with many currently unlisted in both the Smith & Matravers and Standard Catalog to World Paper Money References. Overall an offering that will rival the largely successful April event we held earlier this year.

With such a vast and diverse array of material this sale promises to be as exciting and successful as our previous sales. Pictures and descriptions for all lots including those in our special online only session can be found at Stacksbowers.com. Collectors of all interests and levels will find something in this sale and we encourage all to peruse both the live and online sessions fully. Lot viewing for this sale will be held in our Irvine office by appointment only (July 30-Aug 7) and at the Mira Hong Kong (Aug 16-22), we urge interested parties to schedule accordingly. We are excited to bring another wonderful sale to you and invite any with inquiries to contact us.

World Coin of the Week: Kwangtung 20 Tael Currency Bar

By Todd McKenna, Numismatist

My selection for this week’s spotlight piece from Stack’s Bowers & Ponterio’s upcoming August Hong Kong sale (Aug. 19-22) was at first glance just another silver ingot, but after some translation and a bit of research it told a very interesting story. An unassuming looking piece, the only thing which made it stand out from normal 10 Lang Annamese bullion bars was its size, being about twice as large. What truly piqued my interest in the bar were the air pockets creeping across the base and slightly up the sides, something not seen on bars from Annam or Burma. This is an element typical to the manufacture of Chinese sycee ingots, created by having a small bit of water in the mold before pouring the molten silver which causes steam to be trapped under the metal and form this honeycomb effect. The ingot also lacks any of the normal markings for these types of bars, bearing no official statement of purity, weight standard or denomination. Our only clue in unraveling the piece’s origin was a single stamp on the crudely set face of the ingot. With the help of one of our colleagues the stamp was determined to name a location, Guangzhou Bay. After learning the historical significance of this little known French enclave in China the style and makeup of this ingot began to make sense.

Guangzhou Bay, now known as the port of Zhanjiang, is located in southern Kwangtung province about 150 miles from the northern border of Vietnam. The area was leased to France by the Qing Imperial government at the end of the nineteenth century in an effort to curb the growing power of the foreign controlled ports of Hong Kong and Macau. Despite having natural defenses and an established harbor however Guangzhou was largely ignored by the French as the majority of their interests and resources in the region were poured into the governing of French Indo-China. To this end the population in the port remained almost exclusively Chinese with only 300 Europeans living there out of a population of more than 200,000 by 1931. Without proper administration from the French and a large local population no longer under Qing rule the bay became a haven for smugglers bringing, amongst other things, opium up from French Indo-China to the southern China coast.

With this storied past in mind I believe that this ingot was cast in China using local methods but intended to be taken down the coast to French Indo-China where it could be used to purchase contraband and would easily circulate amongst the indigenous bullion bars. This of course is only a theory, but given the evident age of the ingot, the Chinese style of manufacture for an Annamese shape and the lack of stamps except the one placing it at Guangzhou Bay it does not seem too farfetched. Out of an excellent assortment of sycee we bring to auction this August this piece stood out to me as something truly out of the ordinary. Certainly there are more attention grabbing ingots in this sale based simply on their size and shape but I find this to be one with an absolutely fascinating story which illuminates a corner of history unknown to most. Catalogs for the Stack’s Bowers & Ponterio August Hong Kong sale will be coming online and mailing out soon so be sure to look for this and other intriguing pieces as we bring to auction one of our most diverse sales to date.
                               

From the Desk of Q. David Bowers: The Rarities Night Catalog

By Q. David Bowers, Chairman Emeritus

As you read these words the Stack’s Bowers Galleries “Rarities Night” catalog is either in your hands if you are a client or, otherwise, available with our compliments on the Internet. In some ways the Internet is even better, as state-of-the-art technology makes it possible to present photographs with a sharpness that cannot be equaled with even the finest printing processes.

Rarities Night draws upon a long-time tradition, dating back to our Rarities Sales a decade or more ago, with a nod to the even earlier “Apostrophe” sales conducted beginning in the 1970s, with Stack’s being a participant. The idea is to have a special event in which scarce and rare items come together for a notable offering, perhaps the numismatic equivalent of the Concours d’Elegance of classic cars. This year Rarities Night will be held on Thursday evening, August 9. Crossing the block will be several hundred scarcities and rarities, each of which is memorable in its own right and some of which are incredible landmarks.

Perhaps capturing the most attention will be the Battle Born Collection formed over a long period of years by a Nevada connoisseur who worked with our colleague Rusty Goe in forming a display that eventually was absolutely complete, as defined by having the unique 1873-CC No Arrows dime. This particular 10-cent piece is an old friend to me, as I had the honor of cataloging it in 1996 as part of the Louis E. Eliasberg, Sr. Collection auction. Before that it last changed hands in November 1950 when Mr. Eliasberg acquired it, completing his collection which at that time was absolutely complete from the 1793 half cent to the 1933 double eagle. In addition, if you recall our illustrious series of Eliasberg Collection sales (which extended from 1982 until just a few years ago), this magnificent holding also included memorable colonial and early American coins, patterns, territorial gold, and many other treasures. The Battle Born Collection not only is complete but also is of an average grade quality that has never been even remotely approached by any other gathering. Mint State is the operating description, with any others, few in number, being high grade circulated examples with mint luster, Condition Census all along the way. Incidentally, the name “Battle Born” is derived from Nevada achieving its statehood in 1864 during the Civil War (although hostilities never extended to that territory).

The Hoosier Flyer Collection, showcased in our Rarities Night sale, brings to the fore an incredible collection of small-size pattern cents from 1850 through later in the decade, illustrating the steps by which the Philadelphia Mint endeavored to replace the large and cumbersome copper cent, which was becoming increasingly expensive to produce, with a lighter version. Scarcities and rarities abound, highlighted by a superb Gem 1856 Flying Eagle cent, technically a pattern but adopted into the regular series by just about everyone – due to its listing among regular issues in the Guide Book of United States Coins, and elsewhere. Wait, there is more! The Hoosier Flyer Collection also includes regular issue small cents of 1857 and 1858, including gorgeous Proofs (each of which is considerably rarer than the 1856), Mint State pieces as well (including the elusive 1858/7 overdate) and, for good measure, the seldom seen and quite mysterious 1857 Flying Eagle cents with clashed dies from other denominations.

As you browse through the listing you will find many other incredible coins – rarities in all series. Numismatic Americana includes classic 1783 Libertas Americana medals (voted number one in the best-selling Whitman book, The 100 Greatest American Medals and Tokens), colonial issues, and regulated gold. Next comes the federal series from half cents onward, including many “type” coins, Condition Census, and other treasures. Copper coins of 1793, rare and always popular, are there for your consideration, a very nice collection of 1796-dated rarities in copper, silver and gold will attract attention, not to overlook a memorable offering of gold quarter eagles, half eagles, and eagles dated before 1834. Charlotte and Dahlonega gold coins include many of a quality seldom seen. Proofs range from copper through silver to a very impressive selection of gold – “dream coins” in many instances.

Commemorative coins in silver and gold will please the most discriminating of connoisseurs. California Gold Rush items, each with its own story, are highlighted by the famous and unique Harris & Marchand gold bar from the Marysville, California office – a highlight from the fabulous S.S. Central America treasure.  

While many Rarities Night coins are necessarily expensive – the stuff for museums, advanced collectors, and those building Registry Sets – I hasten to say that there are also many that will be affordable down into the low four figure range, keys in various series. Beyond what you may be interested in acquiring for your own account, I hope you will read the descriptions carefully as there is quite a bit of interesting background information, numismatic details, and other narrative that I am sure you will enjoy reading.

United States Coin of the Week: The Metallic Birth of the Most Famous American-Related Medal to be Offered in Stack’s Bowers Galleries ANA Rarities Night Sale

By Frank Van Valen, Numismatist & Cataloger, U.S. Coins

Uniface Obverse Splasher of Libertas Americana Medal Personally Handled by Ben Franklin

According to our catalog, a simple letter to Benjamin Franklin in 1783 set the wheels rolling on what would become America’s most famous – and most popular – medal of all, the 1776-dated Libertas Americana medal:

"Paris, Jan 23, 1783

I have the honor of sending to Mr. Franklin two new proofs of the medal, noting that the head is not quite as perfect as it should be, that the serpents held by the child will be larger and better drawn; moreover the engraver put 'intans' instead of 'infans' and this spelling mistake shall be corrected.

I have the honor of reminding Mr. Franklin that he had promised what he shall have inscribed on both sides at the bottom of the medal, and this matter alone prevents its completion.

Assurances of respect, etc. Your devoted servant, Alexandre-Theodore Brongniart"

The offered piece, a “splasher,” is struck in white metal and is uniface with paper adhering to the back. Splashers are trial pieces made in soft metal to illustrate to interested parties how a product will look in its finished state. Created for no other purpose than that stated, few splashers of any type have made it through the ages except those that fell into the hands of collectors early on and were saved as a result. This writer’s favorite splashers are the 1792-dated obverse and reverse of Joseph Wright’s die trials for a quarter-dollar design that was never adopted – I had the pleasure of cataloging the Wright pieces some 20 or so years ago for a Bowers and Merena auction.

As for the Libertas Americana splasher offered in our upcoming Philadelphia ANA auction event, our cataloger gives the following history:

This piece is different, in that we cannot only pinpoint when it was produced, we can even trace precisely to whom it was sent in January 1783. Its story follows:

Brongniart, an architect, was well plugged into French artistic society of the day and he was the man who identified E.A. Gibelin and Augustin Dupre as the best choices to design and engrave Franklin's beloved Libertas Americana medal. Proof of Brongniart's role in hiring Gibelin to design the medal exists in a 1785 letter from Gibelin to Benjamin Franklin in the collection of the American Philosophical Society, translated and published by Leonard Augsburger in the MCA Advisory.

Brongniart wrote to Franklin again just over a week later, on January 31:

‘M. Brongniart has the honor of sending his respects to Mr. Franklin and begs him to let him know if he was given Friday of last week [i.e. the day after his previous letter was sent, January 24] two new proofs of the medal, and among others that of the head of Liberty.

 Mr Franklin has seemingly forgotten to send to Mr Brongniart what he wishes to have put at the bottom of the medal on each side, and this holds back the engraver who wishes to complete this work.’

That engraver, of course, was Dupre, who produced the cliché (or, in Brongniart's word, epreuve) that we presently offer. As described by Brongniart, this piece shows INTANS standing in for the misspelled INFANS. It also lacks the exergual legend referencing the victories at Saratoga and Yorktown. Further, as mentioned in the January 23 letter, the snakes are undersized; on the final version, the lower of the two snakes has an additional coil at the end of its tail and the upper snake shows a forked tongue. Other minor differences are noted, particularly that this splasher lacks DUPRE F near the exergue and that the gorgon's head on Minerva’s cuirass is not yet finished.

The physical preservation of this soft metal impression is excellent, with only minor surface wear and with most of the original paper still present on the blank back. Bright lustrous evidence of the tin beneath is visible at the reverse peripheries. The obverse is dark gray, even and appealing, with no major defects.

This piece was offered in the Ford sale with no mention of the INTANS error or its breathtaking provenance that leads directly back to Brongniart and Franklin. In a sale with few cataloging errors, this was one. It appears Ford himself also missed its significance. Today, with the benefit of having Frankin's papers for 1782 and 1783 now in print, it can be properly cataloged and connected to its unique place in history.”

As for original strikings of this famous medallic treasure from finished and issued dies, about two dozen examples are known in silver from the original dies, along with somewhat more than 100 pieces existing in copper. These are highly collectable, especially the silver pieces, with prices pushing six figures for Choice to Gem examples. We suspect the present splasher will find a home in an advanced cabinet of early American issues, perhaps even to keep company with a silver and copper original of the issue. Even if early American issues are not your usual cup of tea, it will still do you well to give this historic item a look if you have the opportunity – where else will you ever see another?

World Coin of the Week: Papal ½ Piastra of 1693

By Greg Cohen, Numismatist and Consignment Director

Our official auction of the World’s Fair of Money has a lovely selection of silver crowns of the Papal States. The artistry, religious imagery, and detail are amazing. I had the pleasure of cataloguing a good number of these coins for the auction, and the half piastra of 1693 (lot 40640) stood out to me for the graphic nature of the motif and its rich visual quality.

 Struck in the second year of Innocent XII’s reign, this piece vividly depicts a pelican goring itself and feeding three chicks. The Latin motto “NON SIBI SED ALIIS” translates to “not for ourselves but for others.” This example is a rare variety, which depicts the pelican standing, facing left (type of Berman 2240) but the obverse legend legend is the one found on Berman 2239 (AN II) where Berman 2240 is for AN III. This example is awash in deep orange-crimson with rich gray-blue accents. Lustrous and well struck, this quality example will be a great addition to any collection of Papal or Italian silver coins. Graded MS-63 by PCGS and housed in a Secure Holder, this is among the finest examples of the type.

There are other Papal crowns being offered, and these lots are represented in both the live auction sale being held Friday August 10 and also during our online only session. The lots are currently on view in our New York office, with viewing scheduled daily from Friday July 27 to Tuesday July 31, before the lots are sent to Philadelphia. Please contact us to make your appointment for viewing in our New York office prior to the official start of viewing in Philly.

Crossing the Block: A Colorful Sampling of Dollars

By Jeff Lubinski, Numismatist

I see hundreds and thousands of beautiful coins every week, but here are a few colorful gems that might be otherwise get lost in the mix.  The first is an 1878 7TF (Reverse of 1879) Morgan silver dollar graded MS65+* by NGC.  This rainbow Gem’s obverse looks like a sunset, with a lovely gold sky mixing with crimson, cobalt, and aqua before going through a smaller but similar flow of iridescence approaching the right edge of the obverse.  The reverse is mostly white with a crescent of pumpkin orange which blends into tones of dark fuchsia into electric blue.  Scattered contact marks are present on the obverse, though mostly masked by the powerful toning, and are more prominent on the reverse.

The second coin is an 1882-S Morgan graded MS67 by PCGS and has passed CAC approval.  The slightest hint of haze is the only thing holding the obverse back from its blazing luster.  On the reverse stunning cartwheel luster flashes through vivid gold, violet, aqua and royal blue.  The third coin is an 1886 Morgan graded MS65 by PCGS in a second generation “Doily” green holder.  The obverse flashes shades of fulvous orange to soft pastel blue and lavender.  The final coin is an 1882-CC Morgan in a GSA holder, graded MS65* by NGC.  The coin’s obverse is nearly blast white with just the smallest hint of color through the E-PLURIB of the motto.  The reverse is what makes this coin special.  Fiery orange blended with rich magenta slowly blend with a lovely mixture of turquoise and cyan.  There are two disruptions in the otherwise flawless coloration, the first a minor spot between the E and D of UNITED, and the second a more prominent area of some streaks of original, gray toning from the top of the right wing through to the rim from A to the top of the R in AMERICA.  Overall it is well deserving of the star and is very attractive.

These coins will be featured in our upcoming 2012 August ANA Sale as lots: 9386 (1878 7TF), 9437 (1882-S), 9458 (1886), and 9582 (1882-CC GSA).

Remember When: Attending an ANA Public Auction –It can be fun!

By Harvey G. Stack, Senior Numismatic Consultant

For almost 60 years, I had the pleasure of conducting over 800 public coin auctions for Stack’s, and found it exciting and sometimes great fun. The next great public auction of coins will take place in Philadelphia on August 7 - 12 during the American Numismatic Association World’s Fair of Money convention and it will be conducted by Stack’s Bowers Galleries. Some interesting observations for you.

When I got started and probably up to some 10 years ago, purchasing coins at public auction required that the bidder attend the sale, appoint an agent to represent him or submit a written bid sheet to arrive prior to the sale. Some were able to call in their bids prior to the sale, but the selling of the coins was mostly to a live audience who bid on the lots as they crossed the block.

In the early days, prior to the turn of this century, only a few auction houses had direct phone service to the sales room, so personal or represented attendance was important.

Of course, within the past few years, the Internet has increased the bidding audience with the ability to bid at a sale as if you were there. Direct phone service is available to those who arrange to be called prior to certain lots being offered and sold. These additions have made the sales more active but it seems to me they lack the fun of just being there!

I want to stress the importance of being at the auction sessions, which will have the coins you are interested in. I want to relate what I witnessed in years of being in front of the room, watching and conducting the sale and observing the bidders in attendance as lots were offered, and eventually "hammered down!"

Just before the sale started, collectors, dealers and observers would crowd into the auction room, take their seats, and chat with friends and attendees about what was to be offered that session. Excitement would be evident in the room, which resulted in numismatics being discussed, and knowledge being exchanged. Attendees usually looked about the room to see if some specialist was there to possibly out bid them. Tension would grow as the auctioneer welcomed the audience to the sale, summarized the bidding procedures and then called out the first lot for that session. The chatting would stop and all eyes were on catalogs or the auctioneer, as the advances after the opening bid were announced. Individuals competed with each other, mail bids were exercised by the auctioneer's staff, and if phone bids were available or internet bids received the sale of each lot was observed, recorded and finally "knocked down" to the highest bidder.

Determined bidders showed their excitement by raising their hands or indicating their bid to the Auctioneer. Each lot was a competitive display and the methods of bidding were something to see. The auctioneer had to be able to catch the many bids, whether it was a hand up, a pencil wave, a wink, a blink, or even calling out. Many hoped to conceal their bids from competitors. Sometimes records were set and successful bidders were sometimes applauded for acquiring some of the outstanding lots. As an auctioneer, it was great to face the audience and see their excitement and anticipation. And the bidders in the room saw of the action, heard the chant of the auctioneer, and felt they were part of the history of that sale.

To those who attended (and to those who attend now) it was like attending a theatrical show -- seeing and hearing firsthand the action in the room, and being there as it happens. It shows the exceptional interest in the items being sold, and sometimes the bidding gets so exciting that participants vocally challenge the hammer price when they are not deemed the winning bidder. Sometimes a lot is reopened if this happens, and there is additional excitement in the room.

Attending a public auction can be fun -- to watch, learn and bid. It is also always a good time just being there among other buyers and observers. It makes acquiring the pieces you want even more exciting.

Our next sale is coming up in August in Philadelphia as part of the ANA’s World’s Fair of Money, a convention you may be attending. I invite you to gain additional numismatic experience and attend one or more sessions to experience this facet of collecting. It will be fun just to attend!

Of course, if you cannot make it, then I suggest you review the catalogs or our Internet listings, send in your mail, fax or on-line bids early, arrange with the office to bid "live" on the Internet, or have a member of the Stack’s Bowers staff contact you for a phone bid.

Whichever way you chose, be a part of this incredible event and be part of history as it occurs. We look forward to “seeing you at the sale!”

Good luck to all,

Harvey G. Stack

United States Paper Money of the Week: Important Condition Rarities Offered Within ANA Currency Session

By Matt Quinn, Director of Currency

Since the advent of third party certification for collectible banknotes many collectors have turned their attention to current population reports from both PMG and PCGS Currency. This data shows every banknote certified by either firm and gives sight to what pieces have garnered top grades for their respective catalog numbers. Session five of our Official Currency Auction of the ANA World’s Fair of Money will present an incredible amount of these finest certified items. These notes are the pinnacle of available material and always create feverish bidding among collectors when publicly offered.

Condition rarities are seen throughout every genre with special attention being paid to the Large Size type note offerings first within the “Watermelon Collection,” and also following in the main session. Many iconic types are seen in the finest state of preservation we have handled with a PCGS Gem New 68 PPQ Fr. 277 Five Dollar “Chief,” Silver Certificate being of particular importance. The note is one which is met immediately with visual prowess reserved only for banknotes which creep ever so close to perfection. For the catalog number it is unrivaled in quality to all others PCGS has enumerated in their current population data. Within the “Watermelon Collection,” several Federal Reserve Notes of the 1914 series are offered as the finest available with important and rare Red Seal $50 notes leading the way. Lot 7452, a Friedberg 1012b $50 FRN from the Boston district, resides in a PCGS Choice About New 55 grade and is a remarkable new addition to the current reports with the next finest shown as a Very Fine item. In addition to the more available design type notes, rare, earlier dated and higher denomination pieces will be offered from a finest known demand note to a chart topping 1880 $100 Legal Tender Note.

Among the popular designs found within the realm of collectible currency this brief summary of finest certified items for their catalog numbers will certainly appeal to collector.



















A total of eight large size notes are offered in PCGS Superb Gem New 68 PPQ grades and we are certain that bidders will find great joy in upgrading to these nearly perfect states of preservation. This magnificent grouping of material will enhance any collection they enter while likely remaining at the top of the population reports for quite some time. From Colonial notes to Small Size type and beyond, these finest certified items will satisfy every collector taste.

Wednesday, July 25, 2012

Crossing the Block: ANA Obsoletes Sure to Entire Bidding Fervor

By Bruce Hagen, Senior Numismatist and Consignment Director

The ANA World’s Fair of Money Paper Money session, to be sold on Wednesday evening August 8th, 2012, is destined to be remembered for years to come. Consigned to this blockbuster event are numerous rarities and collectible notes in all genres and price ranges. Federal type note rarities, Small Size, National Currency, Encased Postage Stamps, Colonial American notes, and Obsolete Currency will share this elite stage, a venue attended by the greatest collectors and dealers in the world.

Obsolete Notes being catalogued for this sale are exceptional and are represented by stunning color proofs, issued notes, private scrip and rare fiscal documents. Several special collections have been consigned to the sale. Among the proofs to be sold is a breathtaking full red tinted Bank of the State of Minnesota $5 proof (lot 7137) printed by the distinctive Wellstood, Hay, and Whiting firm. Midwestern motifs of Indians hunting buffalo dominate the center; the color lathe and bordering details extenuate the riveting beauty. Last sold in March 2005 at the Schingoethe sale, it is the Minnesota book plate note and likely unique in private hands as a proof. Many gorgeous proofs from the northeast are consigned including a $2 Quinnipiack Bank, New Haven, Connecticut proof (lot 7110). The combination of the Native American title and themes is exceptional. Connecticut is one of the best collected states and certainly this is proof that will draw much attention.

Issued notes of course will be highlights in this stellar offering of obsolete notes at the ANA paper money session. Many exceptional New York City notes are being cataloged as we write this. Most of these are from banks that converted to the National Banking system and were types that were redeemed by the bank, making them rarely seen today. Printed in rarely seen all blue ink, a Grocers’ Bank of New York City $1 issued bill  (lot 7171) boasts gorgeous pen signatures and is dated 1861. The upper right building vignette is unique to the bank and is unlisted in the Roger H. Durand volume of architectural vignettes. A real jewel on the Sunshine State is a State Bank of Florida $20 dated 1860 (lot 7118). It is one of two issued notes of the type known, the other being the former Freddie Werner note sold in 1989 and 1997, and is a strong Fine. Estimated at $10,000-$15,000, it is perhaps the greatest “late date” issued note on the state. The bank closed, but the majority of notes were redeemed as they were guaranteed with funds from the state comptroller office. A Philadelphia ANA sale would not be complete without Philly notes and issued rarities from the Kensington Collection are featured. The Bank of Penn Township issued this green tinted $1 note (lot 7227) which was printed by the National Bank Note Company. This vibrant and fresh note has been off the market for many years,


These five notes are just the tip of the iceberg of over 150 enticing obsolete notes from this exciting auction event. Also, please see our Pre-ANA Sale session on Saturday August 4, 2012 for additional obsolete notes. For further information about the paper money sessions, call Matt Quinn or Bruce R. Hagen at 1-866-458-4646 or email us at info@stacksbowers.com.