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Category: Banknotes

PMG Announces Second-Generation Holder

The next generation  PMG label and holder is scheduled for release on Jan. 3, 2011.

PMG will begin use of a new generation holder on January 3, 2011. All notes encapsulated after that date by PMG will automatically be placed in the new holder. Additionally, the new holder will be used for on-site grading during the Florida United Numismatists (FUN) convention in January. This holder marks the first design iteration of the PMG holder since the company launched in 2005. The second-generation PMG holder is made from the same high-quality inert materials and is very similar in shape and overall aesthetics; however, it features new, highly sophisticated anti-counterfeiting and tampering-prevention technologies.

While PMG has not had any reported instances of holder tampering or counterfeiting, the company’s mandate requires periodic reviews of the security of its products. PMG was able to take advantage of advances and technologies used by other Certified Collectibles Group companies, including NGC, in their own certification holders. Ultimately, the holder was upgraded to maintain PMG’s leadership role and the strong preference for its certification holder among currency collectors.

“Our newest label and holder fully satisfies PMG’s combined objectives of exceptional visual display, security and long-term preservation,” comments PMG Grader Richard Stelzer.

Some of the changes will be almost invisible. For example, the label in the second-generation PMG holder includes a conservation-grade UV fiber paper, as did the previous version, but also includes a new UV watermark. These features are not visible under normal light, but when viewed under ultraviolet light these features help confirm the authenticity of PMG product.

Additionally, spot metallic-foil and holographic patterns have been added to the label design and borders. A state-of-the-art hologram is also now fused directly to the label paper. All of these features combine to make the PMG label virtually impossible to reproduce.

The outside holder itself has also undergone important changes. The holder’s sealed edges now include an embossed pattern. The custom design relies on a unique safe-sealing method pioneered by Certified Collectibles Group. The complex repeating texture includes the PMG logo and other elements within the seal that also confirm the quality and thoroughness of the holder seal.

For more information or to have your notes encapsulated in the newest PMG holder, contact PMG customer service at 1-877-PMG-5570 or service@PMGnotes.com.

Ponterio & Associates Kicks-Off 2011 with the January N.Y.I.N.C. Auction

Sale features outstanding selection of Mexican and ancient coinage and Italian banknotes

Ponterio & Associates, a division of Bowers and Merena Auctions, is pleased to present the January 2011 N.Y.I.N.C. Auction at the Waldorf Astoria in New York on Jan. 7-8. The auction will feature 2,558 lots including Part I of the Len Novotny Collection of Mexican Coinage, the Michael Demling Collection of Ancient Coinage, David Ian Wright Collection of Italian Banknotes and a superb selection of Fussli specimens.

“After wrapping up our December Hong Kong auction with the Wa She Wong Collection, we are excited to offer another extremely diverse selection of ancient and world coins and paper money,” said Rick Ponterio, executive vice president of Bowers and Merena. “Sure to be the center of attention, the 1854 Guatemala 8 Reales, lot 1036 and graded AU-55 by NGC, is perhaps the rarest crown-sized type coin for all of Latin America.”

Shortly after the production of this coin, the Republic of Guatemala adopted the decimal system and began producing coinage in Pesos and Centavo-equivalent denominations. This marks the coin as the first, last and only 8 Reales produced by the Republic of Guatemala.

Another anchor of the sale is lot 827, an extremely rare and important 1897 Anhwei Pattern Dollar, graded MS-62 by PCGS. “This particular specimen is clearly intended for special presentation purposes as it exhibits a bold, full-bodied strike with all special characters and sharp details,” said Ponterio.

Furthering the significance of the piece, the short-lived Anhwei mint only produced silver coinage for approximately two years before operations ceased and the mint was dismantled.

Additional coin and paper money highlights of the auction include:

· Lot 116, 1784/3 Mexico 8 Escudos, Key Charles III Proper Portrait, Choice Extremely Fine

· Lot 131, 1823 Mexico 8 Escudos, Hookneck Eagle, AU-55 (NGC)

· Lot 258, 1835 Belgium 40 Francs, MS-64 (NGC)

· Lot 357, 1850 Costa Rica ½ Onza, SP-61 (NGC), (Ex: Fredrick Mayer Collection)

· Lot 464, 1883 Honduras 10 Pesos, , AU-50 (NGC)

· Lot 549, 1926 Italy 50 Lire, MS-64 (NGC)

· Lot 550, 1926-R Italy 20 Lire, MS-65 (PCGS)

· Lot 2031, 264 B.C. Siculo-Punic Silver Dekadrachm, Time of First Punic War, Sicilian Mint, Choice Very Fine

· Lot 2536, 1892 Bank of Greece 100 Drachmai, P-45

· Lot 2611, 1913 Imperial Bank of Persia 2 Tomans, P-2, About Uncirculated, Consecutive pair

· Lot 2613, 1890-1923 Imperial Bank of Persia 1,000 Tomans Specimen, P-10s, Choice Uncirculated

The first day of the two-day auction will feature Part I of the Len Novontny Collection of Mexican Coinage and an array of world gold coins, world crowns and minors. The second day will host the Michael Demling Collection of Ancient Coinage, David Ian Wright Collection of Italian Banknotes, and ancient and world paper money including Fussli specimens. Lot viewing will be conducted before the sale at the Waldorf Astoria in the Morgan Suite, floor 18, Jan. 5-8. (more…)

Useless Money: Production “Error” to Cause Delay in New $100 Bill Debut

The US government said it is still trying to identify the source of the production glitch that forced it to postpone introducing the new $100 bill and could force it to shred hundreds of millions of error-ridden bills. The issue stems from what officials called a “problem with sporadic creasing of the paper during printing” that resulted in blanks spots on some of the newly redesigned bills.

Officials at the Bureau of Engraving and Printing are working with Crane & Co., the Massachusetts company which has supplied the government with paper for currency for more than 130 years, to identify what caused the errors, but it’s unclear if the problem was caused by Crane’s paper or some other element of the printing process.

A person familiar with the situation said that at the height of the printing process, as many as 30 percent of the bills rolling off the printing press included the flaw, leading to the production shut down.

The government said it believes most of the 1.1 billion bills already printed can be salvaged, but any of the bills that were misprinted will have to be shredded.

According to a source familiar with the matter, the bills are the most costly ever produced, with a per-note cost of about 12 cents—twice the cost of a conventional bill. That means the government spent about $120 million to produce bills it can’t use. On top of that, it is not yet clear how much more it will cost to sort the existing horde of hundred dollar bills.

Sorting such a huge quantity of bills by hand, the officials estimate, could take between 20 and 30 years. Using a mechanized system, they think they could sort the massive pile of bills in about one year. (more…)

1861 $10 Demand Note, only known, to headline Heritage FUN Auction in Tampa

First Heritage Currency auction of 2011, Jan. 6-8, at Tampa FUN Convention

Heritage Auctions, the official auctioneer of the Florida United Numismatists (FUN) Show, will present a substantial number of rare and exceptional notes as part of its Signature® Currency Auction. The auction will consist of three floor sessions, held Jan. 6-8, 2011 in Tampa, FL and one online-only session that will take place Jan. 10, 2011 in Dallas, TX.

Among the scarce items is a newly discovered Fr. 10a $10 1861 Demand Note, the only known example. The recently released 19th edition of Paper Money of the United States listed examples of that Friedberg number as “unknown.” Clerks signed the notes on behalf of the Treasurer of the United States and the secretary of the Treasury and included the handwritten notation “for the.” The process proved to be too cumbersome and the plates were changed to include that wording. All of the handwritten “for the” examples are rare today, with a St. Louis example unknown until now.

A number of exceptional Large Size Legal Tender notes are being offered, including a Fr. 127 $20 1869 Legal Tender graded by PCGS as Gem New 65PPQ. That note is among a large number of outstanding notes being offered as part of The Menlo Park Collection. A Fr. 1072a $100 1914 Red Seal Federal Reserve Note graded PCGS Gem New 65PPQ is also being auctioned as part of the collection.

Also among the Legal Tender offerings is a Fr. 158 $50 1880 Legal Tender graded by PCGS Choice About New 55. A rare note, it is one of only nine examples known. The $50 is new to the census and is being offered publicly for the first time.

Several exceedingly rare replacement notes will be presented, including a Fr. 303* $10 1908 Silver Certificate, one of only three replacement notes known for the type, graded Very Good 10 Net by PMG. The note is new to the census and is being offered to the collecting community for the first time. (more…)

William Pannier Collection of Historic, Rare California Bank Notes Offered By Goldbergs

More than 100 Orange County California bank notes from the collection of the late William (“Willie”) Pannier will be among the highlights of the pre-Long Beach Expo auction to be conducted by Ira & Larry Goldberg Coins and Collectibles in Beverly Hills, California, January 31 – February 2, 2011.

“These historic, Southern California large and small-size notes have been off the market for decades in his collection. There are several unique and serial number one examples,” said Larry Goldberg, partner with his cousin, Ira, in the auction firm.


Photo Caption: The First National Bank of Santa Ana, 1902 $10 Red Seal, PCGS Currency VG10, unique, the only known Red Seal from Orange County California, is one of the highlights of the William Pannier Collection to be offered in an auction by Ira & Larry Goldberg Coins & Collectibles, January 31 – February 2, 2011. Photo credit: Lyle Engelson for Ira & Larry Goldberg Coins & Collectibles

Pannier, who died in August at the age of 66, was the long-time owner of Fullerton Coin & Stamp Company, the oldest coin and stamp store in Orange County California. Well-known collector and real estate developer Dwight Manley worked at the shop on weekends as a teenager, and considers Pannier a beloved numismatic mentor.

Pannier began collecting silver certificate notes in the late 1960s and then became interested in Orange County currency, according to his brother David.
“We were second generation Orange County residents. Orange County was in our roots. Some of the notes were displayed at the store, but he kept the more pricey things at home. He always tried to upgrade the notes or get a lower serial number for his collection,” David Pannier recalled.

Highlights of the Orange County California bank notes in the Goldberg’s auction include:

  • The First National Bank of Fullerton, 1882 $10 Value Back, graded PCGS Currency VF30, the finest of only three known Value Backs from the entire county;
  • The Farmers & Merchants National Bank of Santa Ana, 1902 $20 Date Back, PCGS Currency VF20PPQ, one of only four known from the bank; (more…)

Rare 1934 $5,000 Federal Reserve Note Will Be Auctioned Nov. 30

A rare $5,000 Federal Reserve Note, said to be one of only 342 known to be remaining in circulation, will be auctioned on Tuesday, Nov. 30, by Chicago auction house Direct Auction Galleries in an auction taking place in Chicago at 7232 N. Western Ave. Absentee bids are also accepted.

The $5,000 bill is one of 800 lots which also includes a 1934-Star $1,000 Federal Reserve Note (165,372 said to be remaining in circulation), and a 1934-A $500 Federal Reserve Note (Unc.), Brown & Green Seal Notes, 8 Gold Coins including an 1898 Unc. Gold Liberty Head Coin, and more in an auction also offering Furniture and Furnishings, Jewelry, a Vintage Nickel Slot Machine, Bronzes, Art, 1893 Columbian Exposition and 1933 Century of Progress items, and much more.

The last printing of high denomination bills ($500 to $100,000) was in 1945. Giving way to advancing and secure technologies, the large bills had been used by banks and the U.S. government primarily for bank transfer payments, and the Federal Reserve officially discontinued these notes and began removing them from circulation in 1969.

The rare $5,000 bill in this auction is graded approximately AU condition and has James Madison, the 4th president of the United States (1809-1817), the “Father of the Constitution” and chief architect of the Bill of Rights on it.

An interesting footnote about President Madison, he also helped establish the departments of war, treasury, and state, and also tried to establish a national brewery; and even a cabinet position for a secretary of beer, as reported on a recent “Sunday Morning” on CBS. Whoever has the winning bid for this item might be toasting with more than beer!

Direct Auction Galleries is a Chicago auction house specializing in estates and fine antiques, founded in 1962 by Mike and Barbara Modica, located at 7232 N. Western Ave. in Chicago. Auctions are held every other Tuesday with inspections Monday prior to auction day from 3:30-7:30pm and 2-3pm before the sale. For more information, call 773-465-3300 or for full listing, photos, and catalog, visit www.directauction.com.

PCGS Currency Releases Population Report for Serial Number Blocks

The newest resource for paper money collectors is now available online. PCGS Currency has expanded the PCGS Currency Population Report, a report by grade of more than 250,000 notes authenticated and certified by PCGS Currency, to include population by serial number block. Updated daily and available by subscription to members of the PCGS Currency Collectors Club and all PCGS Currency Authorized Dealers, the new “Pop by Block” feature gives collectors and Small Size U.S. currency specialists the opportunity to view PCGS Currency grade populations by serial number block.

“Small Size U.S. currency collectors and specialists now have the availability to research population data and view the relative scarcity of individual blocks by grade,” says PCGS Currency Vice President Laura A. Kessler. “Our new “Pop by Block” population report expands the many resources available to our members. With it’s ease of navigation and 24 hour availability at your fingertips, collectors can quickly find and research pertinent information for over 150,000 small size notes by block. Our initial small size series release includes Legal Tenders, Silver Certificates, Federal Reserve Bank Notes, Federal Reserve Notes, WWII Emergency Notes, and Gold Certificates.”

While the initial release of population data for serial number blocks includes just Small Size notes, the data for Large Size notes by serial number block will soon be released as well. Population data for Canadian notes by serial number block will follow, as well.

“A great deal of work has gone into this project,” stated Jason W. Bradford, President of PCGS Currency. “Our experts have gone over the data line by line to ensure the accuracy of this report. The PCGS Currency Population Report expansion to include serial number blocks will provide collectors of all U.S. notes to gather more information and accurately gauge the relative scarcity of specific blocks by grade.”

PCGS Currency Collectors Club memberships are available online by clicking on our Collectors Club page, or you can join by calling (309) 222-8200. All PCGS Currency Collector Club members can submit notes directly to PCGS Currency, access the online Population Report, and receive a free sample note and a copy of the PCGS currency Grading Standards guide.

Bureau of Engraving and Printing Podcast Series on the $100 Bill

The first of six short videos will cover topics such as how to detect a counterfeit note, the art of banknote design and how new notes enter circulation. The episodes will feature guests from the Bureau of Engraving and Printing, the Federal Reserve Board and the United States Secret Service.

Episode OneAn introduction to the $100 public education program.

Episode 2The New $100 Note Podcast Series : How To Detect A Counterfeit


(more…)

Money on Paper Exhibit at Firestone Library, Princeton University Opens August 30th

Bank Notes and Related Graphic Arts from the Collections of Vsevolod Onyshkevych and Princeton University – August 30, 2010, to January 2, 2011

Paper money as a form of art might seem the makings of a rather small exhibition, to judge from the modern bills of the United States and Europe. Bank notes, however, have constituted one of the dominant forms of visual communication for the past two centuries, and in many cases can be seen as works of art in their own right. Princeton University’s Numismatic Collection is featuring currency worth looking at in the exhibition “Money on Paper” on view in the August 30, 2010, through January 2, 2011.

New Jersey, 1 shilling, December 31, 1763.
Printed by James Parker, Woodbridge.

Because British colonial policies resulted in a dearth of circulating coins, the American colonies were the home of the earliest regular issues of paper money. Illustration was applied to colonial currency as an anti-counterfeiting device as well as for aesthetic purposes. Not surprisingly, the most inventive printer of paper money of the time was Benjamin Franklin, who devised a system of transferring the vein patterns of tree leaves to printing plates to foil counterfeiters. The Princeton exhibition includes a large selection of Franklin’s nature-print notes, as well as issues of Paul Revere and the South Carolina engraver Thomas Coram, who brought classical imagery to that colony’s bank notes.

One of the highlights of the exhibit will be the first public display of the recently discovered banknote engraving of a grouse by John James Audubon, the great wildlife illustrator’s first published work. On display with a sample sheet containing the vignette will be an original watercolor by Audubon, a steel printing plate from The Birds of America, and the Princeton first edition of the elephant folio book open to the page with Audubon’s drawing of the pinnated grouse.

Asher B. Durand, one of America’s greatest painters, was also a major figure in the development of bank note art in this country. Along with his brother Cyrus, who invented a highly decorative series of anti-counterfeiting devices, he developed a classical, patriotic approach to bank note design that dominated the medium for the first half of the nineteenth century.


Montgomery $1,000
Confederate States of America, $1,000, Montgomery, May 22, 1861.
Portraits of John C. Calhoun and Andrew Jackson
.

A section of the Princeton exhibit will explore the divergence of imagery on the bank notes of northern and southern issuers before and during the Civil War. Collectors of paper money will be especially interested by the complete set, in Extremely Fine condition, of six notes printed by the National Bank Note Company in New York and smuggled into the Confederacy in 1861 for distribution as notes of Montgomery, Alabama, and Richmond, Virginia. The American section of the exhibition ends with the high point of American bank note art, the Educational Series of 1896, designed and engraved by some of the most important illustrators of the day. (more…)

1934 New York $5000 bill brings $103,500 in Heritage Boston ANA Auction

Heritage Auction Galleries’ Signature® Currency Auction, held Aug. 11-15, including the non-floor session held on Aug. 15, contributed more than $3 million to the $46+ million total realization of Heritage’s official ANA World’s Fair of Money auction in Boston, MA.

Highlights from Session One included a possibly unique complete uncut sheet of 16 red and black Continental Currency January 14, 1779 Extremely Fine-About New, which realized $28,750. An outstanding New York November 1, 1709 (Lyon Dollars) 2 Ounces 15 Pennyweights or 4 Lyon Dollars PCGS Choice About New 55PPQ sold for $23,000, while a number of Mormon-related pieces had strong showings, including a rare countersigned Kirtland, OH- The Kirtland Safety Society Bank $2 March 9, 1837 G4 Wolka 1424-06 Nyholm 31 Rust 5 grading PCGS Apparent Very Fine 30, which brought $20,700.

National bank notes were offered during Session Two, where a Boston note brought the highest price – realizing $20,700 – a new to the census Boston, MA – $50 1875 Fr. 444a The State NB Ch. # 1028 PCGS Apparent Very Fine 20.

Also in the session two Territorial notes drew strong prices: a Roff, IT – $10 1882 Brown Back Fr. 490 The First NB Ch. # (W)5417 PMG Very Fine 25, unique as a Territorial from the bank, sold for $16,100, while an Enid, OT – $5 1902 Red Seal Fr. 588 The Enid NB Ch. # (W)8231 PMG Choice Fine 15, one of two known, also realized $16,100.

The highest price realized for a single note in the auction came in Session Three when the Fr. 2221-B $5000 1934 Federal Reserve Note PCGS Very Choice New 64PPQ crossed the auction to the tune of $103,500.

Another highly anticipated piece of currency was the “King of Errors” double denomination Fr. 2071-K $20/$10 1974 Federal Reserve Note PMG Choice Uncirculated 63, which soared to $32,200. Among the Large Size highlights was the Fr. 1217 $500 1922 Gold Certificate PMG About Uncirculated 55 EPQ, a spectacular note that sold for $66,125.

All prices realized include 15% Buyer’s Premium.

Heritage to Present 2,800+ Lot Currency Auction at Boston ANA

Official Auctioneer of the ANA World’s Fair of Money, Aug. 11-16

The Official Currency Auction of the 2010 ANA World’s Fair of Money in Boston, MA will be conducted by Heritage Auctions Aug. 11-16. The auction includes three floor sessions and one online session. Lot viewing will be conducted at the Hynes Convention Center, Room 210, 900 Boylston St., Boston, MA 02115 and the floor sessions will be held at the Hynes Convention Center, Room 203, 900 Boylston St., Boston, MA 02115.

In addition to lot viewing in Boston, a preliminary lot viewing will take place at Heritage Galleries Beverly Hills, 9478 W. Olympic Blvd., Suite #100, Beverly Hills, CA 90212 on Friday, July 30, 2010 and Saturday, July 31, 2010.

Session One will begin on Wednesday evening, Aug. 11, at 6 p.m. ET and includes Continental Currency, Colonial Currency, Fractional Currency, Encased Postage, Obsolete Currency, Confederate Notes, a Confederate Bond, Miscellaneous, Postal Notes, Military Payment Certificates, World Currency, and Canadian Currency.

Heritage Currency Auctions is presenting The Collection of a Patriotic American, a complete collection of all 102 Friedberg numbers associated with Continental Currency and believed to be the finest collection ever assembled. The collection also includes 71 additional related items, including the extremely rare marbled edge counterfeit detector; eight extra Fugio bills representing the different plate positions; 21 different contemporary counterfeits; nine sheets of Continental Currency, including a very rare sheet of Fugio bills; and nine counterfeit detector sheets. Among the 71 items are 23 pieces issued by cities and states payable in Continental Currency: four notes from Albany dated 1776 and 19 typeset certificates from Georgia dated June and September 1777.

Among the many highlights of the collection is the finest known Continental Currency May 10, 1775 $20 PCGS Choice About New 58PPQ. The $20 from this first issue of Continental Currency is the only piece of the 102 different Continental Currency notes that has a different shape, size, paper, and color. Benjamin Franklin procured the distinctive marbled edge paper from his contacts in Paris.

Other exceptional rarities in the collection include: a Continental Currency February 17, 1776 Twenty Four Note Sheet Choice About New, the finest of three known examples; a Continental Currency May 20, 1777 Complete Double Sheet of Sixteen Extremely Fine-About New which is unique to Heritage’s best knowledge; a Continental Currency May 10, 1775 $20 Counterfeit Detector PCGS Choice About New 58, one of only two known examples and the only one available to collectors as the other piece belongs to the Colonial Williamsburg Museum; and a gorgeous Georgia June 8, 1777 $8 PCGS Choice About New 58PPQ that was payable in Continental Currency, hence its inclusion in this collection. (more…)

1875 Walla Walla, WA $5 brings $161,000 to lead $5.1 million Heritage Memphis Currency Auction

Rare U.S. and World notes make strong showing at International Paper Money Show

Heritage Auction Galleries’ Currency Signature® Auction held in Memphis, TN, June 17-19, in conjunction with the Memphis International Paper Money Show, showed continued strength in the rare currency market, successfully realizing $5.1 million.

“This auction contained a wide variety of significant U.S. and World notes,” said Allen Mincho, Director of Currency Auctions at Heritage, “and savvy collectors – both at the show and online – were more than happy to take advantage of the offerings.”

Highlights from Session One included: a BC-28 $1000 1937 PMG Gem Uncirculated 65 EPQ, which realized $19,550; an exceedingly rare green ink Russian-American Company 1 Rouble ND (1816-1867) Pick UNL Kardakoff 53.4, one of two known, graded PMG Choice Very Fine 35 Net, finishing at $18,975; a Puerto Rico Bank of Porto Rico in San Juan $10 1.7.1907 Pick 48ctfp Face Proof PMG Uncirculated 61 Net brought $18,400; a Australia Bank of Queensland Limited Dalby Branch £1 Dec. 1, 1864 Pick UNL PMG Very Good 8 sold for $17,250 and a Hawaii Republic of Hawaii Silver Certificate of Deposit $10 1895 (1897) Pick 12a PCGS Fine 12 also realized $17,250.

Other notable items from Session One included a rare Maryland Colonial Allegorical note that sold for $6,325 and three scarce Darwin, Calif., obsoletes that sold for more than $4,600 each.

High denomination Small Size Federal Reserve Notes led the prices realized results for Session Two, with a Fr. 2221-K $5000 1934 LGS Federal Reserve Note. PMG Very Fine 30 bringing $63,250 and a Fr. 2231-K $10000 1934 Federal Reserve Note PCGS Apparent Very Fine 25 realizing $57,500.

The highest price realized in the auction came near the end of Session Three when a Walla Walla, Washington Territory – $5 1875 Fr. 403 The First NB Ch. # 2380 PMG Very Fine 25 crossed the auction block and was sold for $161,000. The Serial Number One Flagstaff, AZ – $5 1902 Plain Back Fr. 606 The First NB Ch. # (P)11120 PMG Choice Uncirculated 64 EPQ realized $69,000.

Stacks Holds The 52 Collection: Art and Security on American Paper Currencies Auction

Stacks hosted an American paper currency auction on Tuesday, June 29th, 2010 in New York. 

The 781 lot sale was anchored by The 52 Collection: Part I. This collection was carefully assembled over two decades by Bruce Roland Hagen (currently a professional numismatistwith Stacks), which features American obsolete currency proofs, engraver’s sample sheets, Federal proofs and related items that emphasize the artistry and security of American paper currency from Colonial times to the 1920s.

Two highlights from the sale include:

Silver Certificate. 1895. Five Dollars. Face Essay Proof. Similar to Fr.268. Choice AU. SOLD $18,400


No plate letter. Printed on India paper, mounted on new card. Imprint of Bureau of Engraving and Printing. Virtually the same design used on the Series of 1896, series date at right and concealed in lower right filigree curl by Morgan’s signature. Wide full-length vignette of Electricity Presenting Light to the World engraved by G.F.C. Smillie. This version slightly different from the 1896 final version. Darker printing and the bulb held aloft is differently shaped. Hessler SCE16 FD, page 111.The Hessler Plate Note. Rarity-7. This is a complex series of proofs and essays. This example matches the Hessler Plate Note for this sub-variety best for the details around the light bulb. This is a very desirable essay from the earlier dated, 1895 series and a magnificently printed example. The note was last sold in November 1990 and has been off the market since that time, housed in this private collection. Very light central fold in the India paper and handling. Looks like a Gem. A showpiece and highlight in this collection of Federal Proofs.



The Bank of St. Louis, St. Louis, Missouri. Ten Dollars. 1850s. Proof. Gem Uncirculated. SOLD $20700


Plate B. Printed on India paper, mounted on original archive book card. Imprint of Danforth, Wright & Co., Philad. & New York. Deep red lathe tint overall with protector TEN bottom center upon micro-lettered repeating TEN pattern. Top center, long line of steamships at the water’s edge being unloaded, amazing perspective running up the riverbank. Lower left, man dressing leather. Lower right, portrait of Col. O. Fallon. Upper left corner, X counter with snowflakes. Upper right corner, 10 counter with petal cycloidals. Haxby MO-50 G4aa Unlisted, different imprint and red tinting. Rarity-7. Certainly not the rarest full color proof in the auction, but debatably one of the central vignettes. Yet another classic American image of the 1850s period, a reminder of Mark Twain’s prose and legacy in the canon of American literature. Every feature of the note is in perfect harmony, from the rich color to the vignettes and intricate counters. There were only four examples on the original sheet this came from in the 1990 ABN sale, which was plated in color in the sale catalogue on page 140. One position is locked into a private collection. The “A,” top position proof from this former ABN Sale sheet realized $4,600 at Schingoethe Part 3 in Memphis, 2005. In the five years since that Memphis sale, stellar looking rarities such as this have generally shown some upside along the way.


Unique NJ Banknotes Stolen 2 Years Ago Returned to Owner at Long Beach Coin Expo

A unique six-note uncut sheet of $5 New Jersey National Currency notes stolen two years ago was returned to its grateful owner at the Long Beach Coin, Stamp & Collectibles Expo during dealer set up on June 2, 2010. The sheet was taken in an October 2008 burglary from the offices of dealer Kevin Lipton of Beverly Hills, California, and is the only item recovered so far.

Beverly Hills, California dealer Kevin Lipton happily holds the recovered six-note $5 National Currency sheet from the Branchville, NJ Bank stolen from his office in 2008.  It was recently recovered by Virgel Nickell and brought to him at the June 2010 Long Beach Coin, Stamp & Collectibles Expo.  (Photo credit: Donn Pearlman.)

“It’s the only thing stolen from my office that I ever cared anything about,” said Lipton who gratefully gave a $5,000 reward to the part-time dealer who recovered and returned the sheet.

“The notes are from Branchville, New Jersey, and that’s the town where I went to summer camp as a child. I bought the sheet at a Christie’s auction in 1982, and they were framed and displayed in my office for years. The notes are reminiscent of my youth,” explained Lipton.

The sheet is the only known six-note uncut sheet of Series 1929 Type II National Currency $5 notes from The Branchville Bank in Branchville, New Jersey. The notes are consecutively numbered, A000001 through A000006.

It was recovered unframed by Virgel Nickell of Santa Ana, California who describes himself as “a dabbler” in National bank notes. Nickell was at a swap meet in Huntington Beach, California in early May when he was approached by a young man who wanted to sell the notes.

“He wanted $500 for it. I figured it was a common sheet, but my reaction was that it was good buy at $500. But when a friend and I researched it on the Internet we learned it was not only rare, it was not mine,” said Nickell.

“I knew I couldn’t keep it. I had to return this to its owner, so I brought the sheet to Long Beach because I thought Kevin would be there. I wasn’t expecting anything in return. I cried when he gave me money for it. I wasn’t expecting that.”

“I couldn’t believe it when he showed me the notes. They’re the only thing taken that I cared about,” Lipton reiterated.

Long Beach Expo General Chairman Ronald J. Gillio was at Lipton’s table as the notes were being returned.
“Kevin was ecstatic. He was so excited, his face was just beaming,” Gillio said.

Anyone with information regarding the theft or the still missing coins and paper money is urged to contact the Detective Division of the Beverly Hills Police Department at (310) 285-2158.

Over 3400 Lots at Heritage’s Memphis International Paper Money Show Currency Auction

[ CoinLink News ] The Official Currency Auction of the 2010 Memphis International Paper Money Show in Memphis will be conducted by Heritage Auctions June 17-21. The auction will include three floor sessions and an online session. Lot viewing will be conducted at the Cook Convention Center, East Hall, 225 N. Main Street in Memphis, and the floor sessions will be held at the Memphis Marriott Downtown, Heritage Ballroom, 250 North Main Street.

Session One will begin on Thursday evening, June 17, at 6 p.m. CST, and includes World Currency, Canadian Currency, Miscellaneous, Continental Currency, Colonials, Fractional Currency, Obsoletes, Confederate Notes, and Military Payment Certificates.

Heritage Currency Auctions is pleased to present a large selection of World notes as part of Session One. Eighty one countries will be represented by the 226 lots being offered. Featured lots include: Australia Commonwealth of Australia £10 ND (1927) Pick 18b R55 PMG Choice About Unc 58, Hawaii Republic of Hawaii Silver Certificate of Deposit $10 1895 (1897) Pick 12a PCGS Fine 12, and a Palestine £10 Palestine Currency Board 1929 Pick 9b PMG Choice Very Fine 35. The Canadian offerings include a BC-19 $1000 1935 PMG Gem Uncirculated 65 EPQ and a Halifax, NS- The Bank of Nova Scotia $100 1929 Ch # 550-28-40 PMG Very Fine 20.

Additional Session One highlights include: an extremely rare “Independence” Sword in Hand Note

Massachusetts November 17, 1776 36s PMG Choice Very Fine 35; a Maryland July 26, 1775 $1 1/3 PMG Choice Fine 15 Allegorical Note; fourteen group lots of Obsoletes from the Bank of the State of South Carolina, among them Charleston, SC- Bank of the State of South Carolina Fractional Notes, Including Several Unlisted Varieties; a Confederate T6 $50 1861 PMG Choice Uncirculated 64 EPQ; a rare Ball 277 Cr. 137 $5000 1863 Four Per Cent Call Certificate PMG Very Fine 20; and Military Payment Certificate Series 661 $10 PMG Gem Uncirculated 65 EPQ.

Small Size Notes, Error Notes, and Large Size Notes will be featured during Session Two beginning on Friday, June 18 at 6 p.m. CST. Among the Small Size selections are newly discovered $5,000 and $10,000 Federal Reserve Notes from the Dallas district Fr. 2221-K $5000 1934 LGS FRN Note PMG Very Fine 30 and Fr. 2231-K $10000 1934 FRN PCGS Apparent Very Fine 25, and a gorgeous Fr. 2407 $500 1928 Gold Certificate PMG Gem Uncirculated 65 EPQ. A number of outstanding Error Notes will be presented, including the “King of Errors,” a Fr. 964/Fr. 904 $20/$10 1914 Double Denomination FRN PCGS About New 50, and a Skaneateles, NY – $10 1929 Ty. 1 The NB of Skaneateles Ch. # 5360 with a rare inverted overprint of the black ink portion. Large Size offerings include a Fr. 1072a $100 1914 Red Seal FRN PMG Gem Uncirculated 66 EPQ that is tied for finest known and the  Ten Note Federal Reserve Proof Presentation Set Number 1 that was presented by Secretary of the Treasury William G. McAdoo on December 21, 1914. (more…)

Bowers and Merena to Offer Diverse Selection of US Banknotes in Baltimore

Bowers and Merena Auctions will again present the Official Auction of the June 2010 Whitman Coin & Collectibles Baltimore Expo. More than 200 impressive currency lots will join a magnificent array of nearly 3,500 coin lots in the auction that will be held June 16-20, 2010.

Ponterio & Associates, a division of Bowers and Merena, will present the world and ancients auction of coins and paper money, more than 2,300 lots, including over 1,500 lots of Ancient and foreign coins and 828 lots of world paper money.


Prior to the auction, lot viewing opportunities for U.S. currency lots will include a special viewing at the Memphis International Paper Money Show on Thursday, June 17, from noon to 5 p.m. CT, when the notes will then travel to Baltimore for the live auction and viewing at the Expo.

Matt Quinn, director of currency auctions, is enthusiastic about the impressive highlights that will cross the auction block. “We have two magnificent sheets of currency to offer, with the first being a tremendous uncut sheet of Rhode Island Colonials. The Catalog numbers range from RI-282 to 289, with two of each denomination seen, seldom seen in such a large format. The other significant uncut grouping of notes is one of the finest sheets of Silver Certificates we have come across. The sheet is an Uncut Sheet of 12 Fr. 1654 1934D Five Dollar notes encapsulated in a Superb Gem 68PPQ holder by PCGS Currency. This stunning sheet of notes is flawless to the naked eye.”

Some important National Banknotes in the catalog start with a highly scarce large size 1902 Five Dollar Plain Back with the second bank name for charter 9745. This County National Bank of Santa Cruz note retains nice appeal and is likely missing from even comprehensive California collections. The second notable National comes from Muscogee, Indian Territory with the Charter number of 4385. “Territorial notes are ever popular pieces which always command a premium,” Quinn said, “as mostly all in the National Banknote section of the hobby aspire to own one.”

The type collectors will also be fortunate to participate in the sale with a few notable high grade large size pieces available. Quinn added, “One of the most pleasing examples we have seen in some time for Friedberg number 21 will be presented to the collecting community bearing the challenging series ‘A,’ in a robust PCGS Extremely Fine 45PPQ holder. Next a wonderful Fr. 116 1901 $10 Bison note will cross the block encapsulated in a PMG Superb Gem Uncirculated 66EPQ grade which really wrings out all the detail the design could offer. A tasteful selection of high grade Gold Certificates will be the staple in the end of the large size type selection with many outstanding Gem notes seen.” (more…)

1914 Richmond Federal Rerserve Proof Banknote Set to be Sold.

Heritage Auction Galleries will offer the 1914 Federal Reserve Proofs Presentation Set Number 1 in its upcoming Signature® Currency Auction, held in conjunction with the Memphis International Paper Money Show, June 17-19. It is estimated at $60,000+.

The set consists of 10 pieces: a Richmond district front of each of the five denominations along with a back for each of the five denominations. The notes have all been certified and encapsulated by PMG. The card that accompanied the set when it was presented to the Honorable Joseph E. Ralph, Director of the Bureau of Engraving & Printing, by Treasury Secretary McAdoo on December 21, 1914 is also contained with the lot.

Additionally, a copy of a letter dated Oct. 28, 1914 is included. The letter from Director Ralph informed McAdoo that the first Federal Reserve Notes would bear the “Richmond Federal Reserve District” seal.

“On Dec. 23, 1913, President Woodrow Wilson signed the Federal Reserve Act, which transformed the American monetary system and is now about to celebrate its 100th birthday,” said Allen Mincho, Director of Currency Auctions at Heritage. “Soon after that signing Joseph E. Ralph, the Director of the Bureau of Engraving and Printing, was assigned the task of designing and producing the new Federal Reserve Notes.”

During the next year, various prototype designs were produced until a standardized design was finalized in the fall of 1914. As a part of the design process, a small quantify of Proof examples were produced. These Proofs were printed from the actual currency plates on to card stock, with the Treasury seal and the all zero serial numbers glued on by hand by the pressman. On the back of each Proof the official “Proofing Room” number was imprinted in light blue ink.

Gene Hessler, in his book U.S. Essay, Proof & Specimen Notes, states that the 1916 “Annual Report of the Bureau of Engraving & Printing” notes that only two complete sets of Proofs were produced, although it is likely that either two more sets were unofficially created or that other Proofs were combined to make at least two more sets, as four complete sets are said to exist today.

Neither the Smithsonian nor any of the Federal Reserve Bank branches, or their headquarters in Washington, D.C., contains any items comparable to this first presentation set in their collections.

Heritage Currency Auctions is currently accepting consignments for the ANA Boston Signature Currency Auction that will be held August 11-13, 2010 in Boston, MA. The consignment deadline is June 18, 2010. Please call 800-872-6467, ext. 1001 for more information.

Ponterio Baltimore Auction to Offer Diverse Selection of Ancient and World Coins, Plus Currency

Ponterio & Associates, Inc., the world and ancients auction division of Bowers and Merena Auctions, will conduct its Baltimore Auction of World and Ancient Coins and Paper Money as part of Bowers and Merena’s Official Auction of the June 2010 Whitman Coin & Collectibles Baltimore Expo.

The two-session sale will be conducted June 18 and 19 at the Baltimore Convention Center. More than 2,300 lots will be offered, including approximately 1,500 lots of Ancient and foreign coins and 825 lots of world paper money.

Executive vice president, Rick Ponterio states, “Our June 2010 Baltimore Auction is sure to see strong bidder participation—and competition—among specialists in many areas of foreign coins and paper money. Featured among the coin offerings in this sale are important rarities from many periods of history, ranging from Ancient Greece to the modern era.”

Continued Ponterio: “An example of the diversity in this sale can be found in two of the more important highlights. The first is a very rare Zeugitana, Carthage AV Trihemistater, or 1 ½ Shekel, that dates to the early period of the First Punic War (ca. 264-260 BC). The coin is attributed alternatively as Jenkins & Lewis Group IX Pl.18#392 (same dies) and Muller-Pg.86#66, and has been certified by NGC as AU, Strike: 5/5, Surface: 3/5.”

“We will also present a Yuan Dynasty Zhi Yuan 50 Tael Sycee Ingot that is extremely rare and historically significant,” Ponterio added. “It is dated the 14th year of the Zhìyuán era (1273 A.D.), inscribed with the denomination at upper left and the ruler’s name and date at lower center, Khubilai Khan, the fifth Great Khan, grandson of Genghis Khan (1260-94). It is among the earliest known Chinese 50 Tael Sycee ingot.”

MORE THAN 825 LOTS OF WORLD PAPER MONEY TO BE OFFERED

“We have received a wide array of important world paper money consignments for this sale,” stated Bowers and Merena’s director of currency auctions, Matthew Quinn. “A splendid selection of Iranian notes from the 1920s and 1930s figure prominently among the highlights in this auction, and they include a stunning Choice Uncirculated 1 Toman note dated 1.6.1920 and attributed as P-1b. Also of note is a China, Republic, 5 Yuan dated 4.10.1914 and attributed as P-34. The note grades Very Fine and is significant because examples of this type are usually seen only in remainder form without signatures and perforated ‘canceled,’ which is a fate this note escaped. We anticipate strong bidder competition for these and other important world paper money lots in this sale.” (more…)

Heritage CSNS Coin and Currency Auctions Tops $25 Million

Gold remains dominant in surging rare coin market; 1921 Saint-Gaudens, Ex: Norweb, leads all lots with $218,500

With the final tallies for Heritage’s April 28 to May 3 Milwaukee Central States Numismatic and Currency auctions in at more than $20 million jointly – $16.9 million in rare U.S. Coins and $3.1 million in rare currency – the totals of the two auctions, in combination with the previous week’s Chicago International Coin Fair World Coin auction – a $5.2 million event – made for a 10 day stretch that totaled more than $25 million in total for the company. All prices include Buyer’s Premium.

“We continue to see great prices across all categories, with gold simply dominating,” said Greg Rohan, President of Heritage. “The economy is definitely improved, so we saw less volume as collectors don’t absolutely need to sell. That said, however, the market continues to climb past the previous record 2007-2008 levels on many coins.”

The rare U.S. coins portion of CSNS saw a superb 89% of lots sold by value and 92% by total number of lots, contested by just more than 7,250 bidders, while the rare currency sessions saw a highly respectable 86% of lots sell by value and 94% by total lots, with 1,915 bidders vying for the offerings.

The top lot in CSNS was the Select 1921 Saint-Gaudens Double Eagle MS63 PCGS, Ex: Norweb, an historic absolute and condition rarity with few peers in the world of numismatics, which brought $218,500

“We continue to see great prices across all categories, with gold simply dominating,” said Greg Rohan, President of Heritage.

“Gold currently rules, and the king is Saint-Gaudens,” said Rohan, “and the 1921 Saint-Gaudens double eagle is a premier rarity in the series, ranking as the third rarest regular issue, behind only the famous and ultra-rare 1933 and 1927-D examples. The price that this very smart collector paid for this amazing and famous coin is money very well spent.” (more…)

Paper Money Guaranty to Grade and Encapsulate ANA Bebee Collection

Project Enables ANA to Showcase Collection at Boston Convention

The American Numismatic Association has contracted with its official paper money grader, Paper Money Guaranty, LLC to encapsulate, grade, appraise and provide a complete certification report for the ANA Bebee Collection of Paper Money.

The collection, donated to the ANA Edward C. Rochette Money Museum by Aubrey and Adeline Bebee in 1987, is one of most comprehensive collections of U.S. paper money ever assembled. It features 904 notes including national bank notes from virtually every state and territory and perhaps the finest collection of large-sized notes outside of the Smithsonian Institution.

“This agreement with PMG makes it possible for the ANA to share this fabulous collection with numismatists and paper money aficionados who, otherwise, might never have an opportunity to see the spectacular rarities collected by Aubrey and Adeline Bebee,” said ANA Executive Director Larry Shepherd. “The Bebees entrusted the ANA to protect and preserve their life’s work – but we also know that they hoped this special collection could be shared with the numismatic community. It’s a great feeling to know that we’ll now be able to expand our use of these notes for educational purposes, share them with the numismatic community, and preserve them for future generations.”

“This is such a special collection,” said Glen Jorde, manager of PMG, which along with NGC and NCS serve as the ANA’s official grading and conservation services. “So many of the Bebee specimens are either unique or the finest we’ve ever seen. The national bank note collection, with nearly every state and territory represented, blew me away. And the collection of large-sized U.S. notes is simply one of the finest anywhere outside of the Smithsonian.”

The Bebee collection, displayed on the ANA website , will be encapsulated in time for its inaugural display at the summer ANA World’s Fair of Money in Boston, August 10-14, at the Hynes Convention Center.

Beginning this month, PMG will accurately and safely grade and encapsulate each note into a holder designed for long-term protection. Three PMG graders will examine each of the notes to confirm authenticity, attribution and to render an opinion on its condition. Once graded, each note will be encapsulated along with a certification label. The information will then be recorded in PMG’s data management system and provided to the ANA. The project is scheduled for completion by June 11. (more…)

U.S. Treasury Unveils The New $100 Federal Reserve Note

Officials from the U.S. Department of the Treasury, the Federal Reserve Board and the United States Secret Service today unveiled the new design for the $100 note. Complete with advanced technology to combat counterfeiting, the new design for the $100 note retains the traditional look of U.S. currency.

“As with previous U.S. currency redesigns, this note incorporates the best technology available to ensure we’re staying ahead of counterfeiters,” said Secretary of the Treasury Tim Geithner.

“When the new design $100 note is issued in TBD, the approximately 6.5 billion old design $100s already in circulation will remain legal tender,” said Chairman of the Federal Reserve Board Ben S. Bernanke. “U.S. currency users should know they will not have to trade in their old design notes when the new notes begin circulating.”


The redesigned $100 note includes two new advanced counterfeit-deterrent security features, in addition to effective security features from the previous design. The features are easy for consumers and merchants to check when verifying authenticity.

The blue 3-D Security Ribbon on the front of the new $100 note contains images of bells and 100s that move and change from one to the other as you tilt the note.

The Bell in the Inkwell on the front of the note is another new security feature. The bell changes color from copper to green when the note is tilted, an effect that makes it seem to appear and disappear within the copper inkwell. “The new security features announced today come after more than a decade of research and development to protect our currency from counterfeiting.

To ensure a seamless introduction of the new $100 note into the financial system, we will continue global public education of retailers, financial institutions and industry organizations to ensure that consumers and merchants are aware of the new security features,” said Treasurer of the United States Rosie Rios. (more…)

Heritage 2,700+ Lot Currency Signature Auction at Central States, April 28-May 3

The Official Currency Auction of the 2010 Central States Numismatic Society Convention in Milwaukee will be conducted by Heritage Auctions April 28 to May 3. The auction will include three floor sessions and an online session. Lot viewing will be conducted at the Midwest Airlines Center, Rooms 201 A thru D, 400 West Wisconsin Avenue, Milwaukee, Wisconsin 53203 and the floor sessions will be held in Rooms 203 A and B.

Session One starts Wednesday evening, April 28, at 6 p.m. CT, and includes Colonials, Fractional Currency, Obsoletes, Confederate Notes, and Canadian Currency. Featured lots include: Fr. 1330 50¢ Third Issue Spinner PMG Gem Uncirculated 66 EPQ; a rare Kirtland, OH- The Kirtland Safety Society Bank $50 Mar. 9, 1837 G16 Wolka 1424-16 Rust SV6; New Orleans, LA- Citizens’ Bank of Louisiana $10 Uncut Sheet of “Dixie” Notes PMG Choice Uncirculated 63; T2 $500 1861 PF-1 PMG Choice Very Fine 35; and a unique Windsor, NS- Commercial Bank of Windsor $20-$20-$20-$20 Ch. 195-10-02S Uncut Specimen Sheet PMG About Uncirculated 50.

National Bank Notes will be sold during Session Two
, on Thursday, April 29 at 6 p.m. CT. The auction includes Part II of selections from the Lone Star Collection, an assemblage of National Bank Notes formed over three decades consisting of the very finest notes that could be obtained from Arkansas, Oklahoma and Texas. The consignor’s Arkansas collection is almost certainly the finest ever formed, with his Oklahoma holdings ranking as one of the two greatest collections ever formed on that state, and the Texas collection rivals any ever assembled save for that of William Philpott.

Among the notes from the collection being offered are a unique Serial Number One $50 Date Back from Oklahoma Madill, OK – $50 1882 Date Back Fr. 564 The First NB Ch. # (W)5404 PMG Very Fine 20 and Marietta, IT – $10 1882 Brown Back Fr. 490 The Marietta NB Ch. # (W)5958 PMG About Uncirculated 55.

Additional National Bank Note highlights from Session Two include: Oakland, CA – $10 1875 Fr. 419 The Union National Gold Bank Ch. # 2266 PCGS Very Fine 35PPQ; Serial Number One Lead, SD – $5 1882 Brown Back Fr. 472 The First NB Ch. # 4631 PMG Very Fine 30; and Serial Number One Lake Ronkonkoma, NY – $20 1929 Ty. 1 The NB of Lake Ronkonkoma Ch. # 13130 PMG About Uncirculated 55 EPQ.

The floor sessions of the auction will conclude with the Friday evening Session Three
offering of Small Size Currency, Error Notes, and Large Size Type Notes. The session will begin at 6:00 p.m. CT. Small Size selections include: Fr. 2221-H $5000 1934 Federal Reserve Note PMG Choice Extremely Fine 45 Net; Fr. 2231-J $10000 1934 Federal Reserve Note PMG Extremely Fine 40 Net; and Fr. 2407 $500 1928 Gold Certificate PMG Choice Very Fine 35. (more…)

U.S. Government to Unveil New $100 Note Design on April 21

The new design for the $100 note will make its debut on Wednesday, April 21 during a ceremony at the Department of the Treasury’s Cash Room. The U.S. government redesigns currency in order to stay ahead of counterfeiters and protect the public.

Decisions about the redesign of each denomination are guided by the government’s close evaluation of the range of ongoing counterfeit threats, whether from digital technology or traditional printing presses.

The ceremony in Washington, D.C., will be held at 10:00 a.m. U.S. EDT and will feature:

Secretary of the Treasury Timothy Geithner

Chairman of the Board of Governors of the Federal Reserve System Ben Bernanke

Treasurer of the United States Rosie Rios

Director of the United States Secret Service Mark Sullivan

When the new note begins circulating, it will be important for people to know that it is not necessary to trade in old-design notes for new ones. All U.S. currency remains legal tender, regardless of when it was issued.

The unveiling of the $100 note is the first step in a global multi-government agency public education program implemented by the Department of the Treasury, the Federal Reserve Board and the U.S. Secret Service, to educate those who use the $100 note about its changes before it begins circulating.

The $100 note is the highest value denomination of U.S. currency in general circulation, with up to two-thirds of $100 notes held outside the United States. (more…)

Record Set at Spink Auction for a Chinese Banknote, $990,000 HKD

On the 23rd and 24th of January 2010, Spink held a magnificent sale of Stamps, Banknotes, Coins and Bonds of Hong Kong and China, at the Landmark Mandarin Oriental in Hong Kong.
The sale featured a number of rare and valuable items which resulted in fantastic prices at auction including a new record for a Chinese banknote.


This note was the first one yuan note available for public purchase and it caused quite the bidding frenzy on the day of the sale. A Taiwanese Collector was the lucky buyer in the end.

The highly valuable note features 2 black dragons signifying the prowess of the Emperor and Monarch and accordingly named as the “Ooi-Long note”, in the middle “Xuan Tong Yuan Bao”.

The Kwangsi bank existed for a brief stint of less than 2 years before being reorganised in 1911 and the notes were subsequently recalled.

To date, only 3 examples of this note have been discovered, and it is noteworthy that all 3 are believed to be in the hands of collectors outside Kwangsi.

Barnaby Faull, Director of Banknotes at Spink, commented, “This was an absolutely fantastic auction. We offered a fresh collection of Chinese notes from an English collector and the new material resulted in great interest from collectors around the world. The Chinese market is very buoyant and potentially unlimited and this was without doubt the finest sale to be held in Hong Kong for banknotes. The sale also featured a wonderful collection of coins and bonds. In the end, nearly HK$11 million was sold at auction on the day.” (more…)

Unique Australian 1952 £50 banknote sells for $750,000

Western Australian-based business The Rare Coin Company, in Albany has just sold the only Australian 1952 George VI £50 unissued specimen banknote of its type known in private hands to a WA client for $750,000, setting a new benchmark for this classic Australian rarity.

The only other example is displayed in the Reserve Bank of Australia’s (RBA) museum in Sydney.

Presented in superior about Uncirculated-grade (aUNC), the banknote last surfaced for sale in 2006, when it was sold to another WA buyer for an undisclosed sum.

Previously Unreported

This magnificent banknote, featuring the portrait of Sir Henry Parkes, known as the ‘Father of Federation’, remained unreported until the 1990’s. It is believed to have been one of a proposed new series of Australian banknotes. It was first shown at the International Coin Fair in Singapore by its purchaser, coin and banknote company Monetarium (Australia).

At the time, it was also reported in the Australian Coin Review magazine’s March and May 1996 editions and displayed at the Numismatic Association of Australia (N.A.A.) Coin Fair in Sydney, in March the same year.

Then Monetarium spokesperson Barrie Winsor told Coin Review at the time “that the recent publicity surrounding the launch of a Parkes one dollar coin helped bring this new discovery to light”. The Parkes portrait later appeared on the commemorative five dollar polymer banknote issued in 2001 to mark the Centenary of Federation. (more…)

Upcoming Champion Hong Kong Auction Offers Chinese Numismatic Rarities

The 10th Hong Kong Champion Auction will be held on February 24 at the renowned Hyatt Regency Hotel located in 18 Hanoi Road, Tsim Sha Tsui, Kowloon, Hong Kong, and features a rich selection of Chinese coins and banknotes certified by Numismatic Guaranty Corporation (NGC) and Paper Money Guaranty (PMG).

Among the auction listings are Chinese Empire minor Silver and Copper coins from a long-standing American collection. Also presented is a group of Copper Pattern coins from another American collection, including an extremely rare Yunnan Dollar pattern with raised edge, whose heritage may include the Schuler Company.

The auction will be held on February 24, 2010, at the Hyatt Regency Hong Kong. More information can be found on Champion’s multi-lingual Web site, www.cghka.com, and the auction can be seen at www.liveauctioneers.com/catalog/20498.

586 rare coins and banknotes will be offered and Among the highlights of coins are:

CHINA-Yuan Dynasty 5 Taels Gold Sycee, Weight 185.5g, VF?lot 48?
CHINA-SHANTUNG 1926 Dragon and Phoenix 10 Dollars Gold Pattern, KM Pn7, K1536, NGC MS65?lot 68?
CHINA-YUNNAN ND 10 Cash Copper Pattern, AU. Extremely rare possibly unique (lot 235)
CHINA-SINKIANG 1878 One Mace Silver, Lanchoufu Arsenal Mint, L&M808, K1000, NGC AU55(lot 214)
CHINA-Qing Dynasty Empress Dowager Presentation Birthday Charm, 63mm in diameter, 10mm thick, 241.8g, XF(lot 41)

Highlights of banknotes are:
CHINA 1911 Shensi Provincial Bank 3 Taels (Guo-829), VF-XF(lot 449)
CHINA 1854 Board of Revenue 10 Tales PA12b(lot 367)
CHINA 1907 Kiangse Government Bank $1 PMG VF20(lot 447)
CHINA 1914 Bank of China Chihli $5 PMG AU58EPQ(lot 389) (more…)

Baldwins 48th Hong Kong Coin Auction Results

The 48th Hong Kong Coin Auction is taking place a little earlier than usual this year, in-line with the Hong Kong International Coin Convention and Antique Watch Fair. As usual the sale will be held at the Holiday Inn Golden Mile, Kowloon, Hong Kong, at 10.00am on the 25 th February, and will feature two sessions (868 lots in total) of predominantly Asian coins and banknotes.

The auction opens with lot 1, a Ming Dynasty (1368-1644) 1-Kuan banknote. The Baldwin’s – Ma Tak Wo auction group sold a similar piece in their last sale for a record breaking US$19,000 and, although this note isn’t in as good condition, they are hopeful that this piece will attract as much attention.

The banknote section continues to show promise with lot 39 a 1908 Hio Lung Kiang Government Bank, Branch Office $5 note in extremely fine condition and leads into an extensive selection of Indian banknotes, the most unique and desirable being lot 227 the 1000 Rupees, first issue note of Hyderabad.

Following the success of the Chinese medals and orders section of the last sale the Hong Kong sale this year offers a smaller but equally as interesting selection. The highlight of the orders is lot 560 – The Order of the Stripped Tiger, First Class Set.

Founded in 1912 by President Yuan Shih-Kai as an award of merit to Chinese Navel and Military Forces, the award cam in nine classes and is no longer awarded. The class is indicated by the number of stars appearing above the tiger’s head and also by the size of the badge itself. Three stars denotes a first class award, two a second class award and one for third class. Lot 560 holds three stars and is in extremely fine condition and estimated at US$12,000 – 15,000. (more…)

Bowers and Merena To Auction Exceptional Banknotes In Baltimore

Bowers and Merena Auctions, America’s leading rare coin and currency auction house, is preparing another phenomenal sale as the Official Auctioneer of the March 2010 Whitman Coin & Collectibles Baltimore Expo.

A particularly diverse and important selection of United States currency is on hand for the auction–so many notes, in fact, that the firm will be preparing a separate, stand-alone catalog comprised only of United States paper money.

The notes will be auctioned March 2-6, 2010, as part of the Bowers and Merena Official Baltimore Auction offering rare United States and International coins, currency and banknotes. Ponterio & Associates, division of Bowers and Merena, will present the world and ancients auction of coins and currency.

“Our March 2010 Baltimore Auction promises to be an especially memorable event as far as paper money collectors are concerned,” opined Steve Deeds, president of Bowers and Merena. “We are assembling a complete catalog dedicated to United States currency, a definite highlight of which is a profound condition rarity Fr. 1700 1933 $10 Silver Certificate. A breathtakingly beautiful example, this note has been certified Gem Uncirculated 65EPQ by PMG.”

Matt Quinn, directory of currency auctions, added, “Another small size Silver Certificate highlight in this sale is a Fr. 1608 1953A $5 note in PCGS Superb Gem New 67PPQ with a captivating serial number F00000001C. And not to be outdone in our March 2010 Baltimore Auction are the large size Silver Certificates, which include an extremely rare Fr. 282* 1923 $5 Silver Certificate Star Note that PMG has certified as Superb Gem Uncirculated 67EPQ.” (more…)