Crossing the Block: U.S. Paper Currency Sessions Excel in Chicago

U.S. Paper Currency Sessions Draw Superb Results in the Stack’s Bowers Galleries Official Auction of the ANA World’s Fair of Money

By Bruce Roland Hagen, Senior Numismatist and Consignment Director, Currency

For the third straight year, Stack’s Bowers Galleries paper currency sessions at the Official Auction of the ANA World’s Fair of Money drew rave reviews from collectors and dealers who bid with enthusiasm and often paid record prices for rare and significant notes in all genres. Four currency sessions – commencing with the Sunday, August 11, pre-sale and ending with the main United States session on Thursday evening – realized a total of $8,691,039. Bracketed in between the two United States sessions were the Stack’s Bowers and Ponterio world currency session and the John J. Ford, Jr. Collection Part XXII featuring Colonial, Continental, Obsolete and Fractional Currency notes. Complete results can be found on our website www.stacksbowers.com along with virtual catalogs and PDF downloads.

Federal Large and Small Size notes were a strong focus of the main auction and were topped by a note from The Dr. Edward and Joanne Dauer Collection of Silver Certificates – several amazing, rarely offered examples were included in this well-constructed cabinet. Leading the way was an 1880 Fr.340 $100 Silver Certificate PCGS Extremely Fine 40 which climbed and climbed before settling in at $352,000. The highlight lot of all the currency sessions was the extremely rare 1863 Fr.186c $1000 Legal Tender “Robert Morris” note, PCGS Fine 15 Apparent, at $881,250. Small Size Fancy Number notes included a “dream” note, Serial Number 1 1934 Fr. 2201-J* $500 Kansas City Federal Reserve Star Note graded PCGS Choice New 63 PPQ at $176,250.

Many of the highlight notes were dominated by United States Federal note issues, but some early historical notes from several genres also met with strong results. Unique and beautiful obsolete proof notes continue to flourish. A superb, first-time seen Quincy Stone Bank $500 green color proof hit $18,800, more than double estimate and boasting a Ford collection pedigree. Georgia Colonial notes showed renewed strength again with an extremely rare 1777 $4 blue-green Liberty Cap seal note reaching $12,925. Several Internet bidders took aim at a mesmerizing August 18, 1775, 5 Shillings Revere “Sword in Hand” note graded PCGS Choice New 63 PPQ before it sold for a mighty $70,500. A newly discovered Fractional Currency Presentation Proof album, pedigreed to the Robert Todd Lincoln family, realized $30,550 in active bidding. Several rare Confederate States notes were consigned to the sale led by a gorgeous PCGS Extremely Fine 40 PPQ $500 Type 2 Montgomery note that realized $44,062.

Additional U.S. currency highlights include:

• Lot 3022, Colonial Currency. MA-162. Colony of Massachusetts. August 18, 1775. 5 Shillings Sword in Hand Note. PCGS Choice New 63 PPQ. $70,500
• Lot 3089, Confederate Currency. T-2. 1861. $500. PCGS Extremely Fine 40 PPQ. $44,062
• Lot 3218, Large Size. Fr. 340. 1880 $100 Silver Certificate. PCGS Extremely Fine 45. From The Dr. Edward and Joanne Dauer Collection of Silver Certificates. $352,500
• Lot 3264, Large Size. Fr. 150. 1863 $50 Legal Tender. PCGS Extremely Fine 40. $176,250
• Lot 3267, Large Size. Fr. 186c. 1863 $1,000 Legal Tender. PCGS Fine 15 Apparent. $881,250
• Lot 3270, Large Size. Fr. 193. 1863 $100 Compound Interest Treasury Note. PCGS Very Fine 25 Apparent. $176,250
• Lot 3386, Large Size. Fr. 1218f. 1882 $1,000 Gold Certificate. PCGS Very Fine 25. $176,250
• Lot 3458, Fancy Serial Numbers. Fr. 2201-J*. 1934 $500 Federal Reserve Star Note. Kansas City. PCGS Choice New 63 PPQ. Serial Number 1. $176,250
• Lot 3460, Error Notes. Middlebury, Vermont. $10 Original. Fr. 412. The NB. Charter #1195. PCGS Very Fine 25 Apparent. $10 / $20 Double Denomination. $58,750

Stack’s Bowers Galleries is currently open for U.S. consignments to the November 2013 Official Auction of the Whitman Baltimore Expo and U.S. and world consignments for all future sales. Contact Peter Treglia, Matt Quinn or Bruce Roland Hagen to inquire about consigning paper currency by calling 800.458.4646 or by email at consign@stacksbowers.com.