Written by Q. David Bowers, Chairman Emeritus
As I compose this message I have
in my hand the catalog for the paper money section of the Stack’s Bowers
Galleries Baltimore auction. Held in conjunction with the Whitman Coins andCollectibles Expo, this sale, to be held on Friday evening, March 15, will
attract attention worldwide, plus a lot of interest and activity at the show
itself. While paper money has been intensely collected for many years, in
recent times this specialty has become increasingly important, what with
interesting varieties of small-size notes 1928 to date appealing to many
collectors. Traditional older notes are standard, of course.
Our sale begins with lot 5001, a
1771 note of colonial Connecticut, from which point other notes from that
colony are offered, followed by Delaware and then an extensive run of Georgia
notes. Massachusetts issues include, as expected, certain notes and
certificates from plates engraved by Paul Revere, perhaps the most famous of
colonial bank note engravers. Notes of colonial New Jersey are interesting and
important as well, as are some later state notes in the colonial style.
Pennsylvania, South Carolina, and Virginia are also represented, after which
will be found a nice selection of Continental Currency notes, commencing with
the famous issue of May 10, 1775, the $20 on marbled paper secured in France by
Benjamin Franklin.
Obsolete notes, generally defined
as those issued by state-chartered banks from 1782 through July 1866, but
mostly prior to 1865, have become an especially dynamic focal point of interest
in recent years. The interest has been accelerated by the appearance of
incredibly important private holdings such as the Schingoethe Collection and
our own offering of the John J. Ford Collection. Our present Baltimore offering
begins with lot 5138, a rarity from Montgomery, Alabama, after which notes are
listed by states, including seldom-seen Proofs. The parade of Obsolete notes
includes lot 5183, a spectacular Bank of North America Proof $1,000, a
denomination that hardly exists for any east or northeast bank except for the
misleadingly-named Bank of the United States (which should be titled Bank of
the United States of Pennsylvania). This Bank of North America note is
estimated at $15,000 to $25,000. If it were a federal note you could probably
move the decimal over one point! Suffice it to say whether or not your
collection contains this variety will probably depend on your success in this
particular sale. Rhode Island notes are, in a word, definitive. The offering of Proofs is simply amazing -- world
class, memorable and wonderful. If Rhode Island notes are your specialty or you
are planning to collect them, bidding in this section of our sale is absolutely
essential. I am not taking much of a risk when I say that many of the notes are
likely not to be offered again in the lifetime of anyone reading the catalog.
Tennessee is represented by many
notes that are seldom seen, ditto for certain Virginia notes. Then come
presentation volumes of vignettes, a very rare class of collectible. Lot 5355 offers
vignettes by the American Bank Note Company -- much rarer in my experience than
federal note vignettes. Some sheets of Confederate currency come next.
Regular federal notes begin with
lot 5164, a Gem example of the popular 1869 $1 “Rainbow” note. From there the
parade continues with type notes, popular designs, and the like, among which a
superb Gem 1896 $5 “Educational” note is especially important. In reviewing the
catalog you are likely to get some bidding inspiration if you at the same time
look up many of these items in the bestselling Whitman book, The 100 Greatest American Currency Notes. Most of the important types are listed there.
Gold Certificates are seen toward the end of the large-size note listing,
followed by Fractional Currency.
Small-size notes feature the
Thomas Vandenbosch Collection of scarcities, rarities, interesting varieties,
and just about anything else imaginable. Beyond that high-denomination notes
beckon, including $500, $1,000 and an incredible $5,000 Federal Reserve notewith serial number 3A. Hawaiian notes, North African issues, Military Payment
certificates and other items follow, after which there is a spectacular section
of low and unusual serial number notes. Sets and runs of notes will command
interest and attention. A double denomination $5-$10 note will attract bids
from many directions. I remember some years ago when Aubrey and Adeline Bebee
had nine of these notes, an important discovery. This is probably from that
group. Error notes come next.
National Bank notes begin with
California and continue onward to include quite a few interesting things,
including a $1,000 pack of $20 bills from the American National Bank of
Pensacola, Florida. Such are seldom seen from any bank. Among Ohio notes will
be found an important Cincinnati First Charter $100 note from the National
Lafayette Bank. While National Bank notes conclude the Baltimore “live auction”
portion of our sale, at the end of the catalog will be found a selection of
notes offered in our Internet-only session which closes Tuesday, March 19, at
3:00 pm Pacific time.
If paper money is your forte,
attending the Whitman Coins and Collectibles Expo will be a highlight. Or, if
like most of our buyers you bid on the Internet you will have an enjoyable
experience as well. Either way I wish you the very best of success in capturing
the pieces that attract you the most.
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