United States Paper Money of the Week: Where the Buffalo Roam

By Bruce Roland Hagen, Senior Research Numismatist

August is traditionally the month of vacations for many people. Often, numismatic activities are placed to the wayside for the beach, golf, and other outdoor leisure activities. However, August was a dynamic month for us at Stack’s Bowers Galleries on multiple fronts. We conducted electrifying auction sales at the ANA World’s Fair of Money in Philadelphia and in Hong Kong, and we re-opened our retail gallery at our venerable location at 123 West 57^th Street, New York City. The tan and brown Stack’s awning returned and the polished brass sign was spiffed up to be in character with the landmarked shopping district. Fifty Seventh Street boasts luminaries such as Tiffany, Bulgari, Louis Vuitton, FAO Schwartz and many others that are just a stone’s throw away. The traditional met the 21^st century as we rolled out our new Gold to Go ATM to a ribbon cutting by Harvey Stack, Spectrum Chairman Greg Roberts and Olympic gold medalist Brendan Hansen.

Stack’s Bowers is proud to have joined in partnership with the Wildlife Conservation Society to sponsor silver half-ounce and one-ounce medals, which debuted at the store event on August 23, 2012. The well crafted medals are available for sale at the Gold to Go ATM at the storefront or inside the store. It is fitting to produce such a special medal commemorating the American bison as it is tied to the United States numismatic fabric in so many ways. Not only is the Buffalo nickel an American icon known to most, but the bison image has been used on paper money as early as the 1830s and well into the 20^th century.

Recently we had the privilege to sell at our ANA auction a stunning full red color obsolete proof note from the Bank of the State of Minnesota. At the center is a rarely seen version of Indian hunting the buffalo on the plains, to our knowledge used on this note exclusively. The fierce hunter versus the rampaging speed of the bison is nicely balanced by the color and geometric layout. A Unique proof, the note realized $23,000 in spirited bidding from a pre-sale estimate of $10,000-$15,000.

Possibly the most iconic United States federally issued paper money note is the 1901 series Legal Tender $10 notes known as the “Bison” type. Millions upon millions were emitted, but their popularity has always made them a collector favorite. Highest grade examples have always been elusive and in demand. The ANA auction had several choice Bison notes, with a stellar PCGS graded Superb Gem New 67 Fr.121 leading the herd with a realization of $19,975.

Once again superb items achieve superior results in our auction venues where astute collectors and dealers compete through floor bidding, the telephone and on the Internet. Our next United States paper money auction is November in conjunction with the Whitman Coin and Collectibles Baltimore Expo. Several important properties have been consigned to this auction, but there is still limited time and space to consign. Please call Bruce R. Hagen in New York at 1-800-566-2580 or Matt Quinn in California at 1-800-458-4646. The deadline to consign is September 24, 2012 so call us today!