By Allen Mincho, Bank Note Reporter

This January 2008 column for Bank Note Reporter marks the 10th year that my musings have appeared on a monthly basis. It has been a truly amazing ride that we in the currency market have enjoyed for the past decade, with a market that has widened beyond the scope of even the most optimistic prognosticator, with more buyers, sellers and dedicated collectors taking part than any observer could reasonably have predicted at the start of 1998.

The advent of truly unbiased and objective third-party grading, the explosion of modern research techniques into hitherto uncharted fields, the expansion by all of the major coin auction houses into the currency auction arena, and the realization by the numismatic community that currency was both undervalued and considerably scarcer than its metallic counterparts all have played a major role in defining where this market has progressed as we start 2008. Read Full Story

[UPDATED] Dallas, Texas: Heritage Auction Galleries, the world’s leading numismatic auctioneer, will present currency from the Peter Gamble Collection at the Florida United Numismatists Show January 10-12, 2008 in Orlando Florida.

The Peter Gamble Collection is an incredible type set of United States Large Size Currency, containing some of the finest examples offered at auction in years. Mr. Gamble’s focus was on both quality and rarity. According to Dustin Johnston, Director of Currency Auctions, “In many instances where a large number of quality notes were available for a particular type, Mr. Gamble chose to pursue a scarcer Friedberg Number to represent the type and he did so without compromising quality. He still found the finest pieces available.”

The numbers tell the story. Of 59 large size notes in the collection, 35 are graded Gem or better by PMG and PCGS. Fifteen pieces are the finest graded or tied for finest graded by their respective grading services. “Collectors seeking the finest pieces for eye appeal and rarity will find the Gamble Collection to be a wonderful buying opportunity,” added Johnston.

In addition to the Large Size offering, Heritage will present Mr. Gamble’s selection of United States Fractional Currency. The 79 pieces include 22 examples that are also finest or tied for the finest known at PMG. The Fractional Currency selection is highlighted by Spencer M. Clark’s Presentation Book of Fractional Currency. In May of 1866, thirteen books containing Fractional Currency specimens were presented to Andrew Jackson, his cabinet, and several congressmen. Clark served as Superintendent of the National Currency Bureau and later the Bureau of Engraving and Printing from 1862 to 1868. (more…)

The only complete set of Legal Tender Rainbow Notes outside the US Government hands will be exhibited at the FUN show coming up in Orlando, Florida.What makes this exhibit so distinctive is the fact that the $500.00 and $1000.00 Rainbow Notes are unique in private hands, making this the ONLY complete set possible.

For the first time the collector fraternity will have what could be a once in a lifetime opportunity to see these rarities together. This display of the 1869 Rainbow Series Notes will consist of 9 notes ranging from the $1.00 denomination to the $1000.00 denomination.

This event has been arranged by Sergio Sanchez of Sanchez Coins and Currency from Miami, Florida. Sergio is representing the owners, a group of anonymous collectors, at the FUN show. Take the time to pass by and see this magnificent display in the Exhibition area, it could very well be the only time this will happen in ones lifetime.

SAGINAW — Mark Berg can hold Saginaw history in his hands. In a chance find this year, he uncovered the first three $10 notes Saginaw City Bank issued in 1837. The notes bear the serial numbers 1, 2 and 3 and are in perfect condition. Norman Little, founder of Saginaw City in 1836, served as Saginaw City Bank president and signed the notes Dec. 26, 1837 — 170 years ago today.

“The significance isn’t in the value of these notes or in their pristine, uncirculated condition,” said Berg, a Saginaw Township numismatic hobbyist and small-time collector. “It’s the fact that they still survive today, 170 years later, as a group.”

Little’s bank issued “wildcat” currency in 1837. His ability to sell land in Saginaw City backed the notes, says “Saginaw’s Changeable Past: An Illustrated History,” which Delta College history Professor Jeremy W. Kilar wrote. Read Full Story

Special Note is the First Graded Superb Gem New 69 of Any Large Size Type

IRVINE, Calif. – Teletrade, America’s largest fully automated Internet auction company for certified coins and currency, announces the record-setting sale of an 1899 “Black Eagle” Silver Certificate. Bidding on the note advanced to $30,000 during Teletrade’s December 10 auction, but the note did not meet the reserve. A day after the sale, Teletrade sold the note to a private buyer who was previously unavailable during auction bidding.

Teletrade is not releasing the final price the buyer paid or the identity of the buyer, but will confirm the sale price was in excess of $30,000. According to Ian Russell, president of Teletrade, “This note sets records as the highest price paid for a non Serial Number One ‘Black Eagle,’ and it is the second most expensive for the type.”

This impressive note was a record-holder even before the sale, in addition to its record sale price, as it is the first large size type note of any design to receive the grade of “69PPQ” from PCGS Currency. (more…)