Stack’s Philadelphia Americana Sale was held last week in conjunction with the Whitman Coin and Collectibles Expo and was a resounding success. The auction realized nearly $9 million and set a new record for the most expensive silver U.S. medal ever sold at auction at a whopping $345,000! This sale featured not only the familiar U.S. coin and paper money issues, but also showcased landmark collections of medals, tokens, and other numismatic interests.

Part One of the Americana Sale featured American Paper Currency and was led off by the Chester L. Krause Collection of Wisconsin Obsolete Banknotes. Nearly 350 lots of Chet’s were offered and were extremely well-received. Highlights included a Oneida Bank Proof Sheet, a gorgeous color sheet that brought $23,000, and a fantastic Farmers Bank at Hudson color proof sheet that realized $17,250, more than doubling the pre-auction estimate. An excessively rare Waupun Bank “Santa Claus” Proof was also a significant highlight and sold for $16,100.

The second half of Part One was comprised of Canadian paper money, U.S. large and small size currency, fractional currency and fractional currency shields, Colonial and Continental currency, and a few pieces of Tromp l’Oeil numismatic artwork. Large size currency boasted an outstanding Gem 1896 $5 Educational note graded Superb Gem Uncirculated-67 PPQ (PCGS) that brought $23,000. National Bank Notes featured a prized D. O. Mills & Company, Sacramento, California 1872 $5 in Very Fine condition that fetched $43,125. There were three trompe l’oeil paintings offered in the Americana sale, the most notable of which was the 1949 “We’re All Gold Bugs” by Otis Kaye that sold for $43,125.

Following the numismatic art was a large section of Colonial and Continental Currency, which included a fabulous run of 1709 Colony of New York notes. First up was a rare May 31 Ten Shillings graded New-62 (PCGS) that garnered $13,225. Next was the amazing strip of three May 31 notes from the Ford-Boyd collection that went for $34,500, followed by an extremely rare November 1 Twenty Five Shillings in Extremely Fine-40 (PCGS) that sold for $12,650. Capping off this impressive run was the incredibly rare uncut pair of 25 Shillings-50 Shillings that sold for a respectable $27,600.
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Stacks Philadelphia Americana Sale, Part I, will be featuring American currency (Part II, with coins, medals, and tokens is in a separate catalogue). On September 23 and 24 all eyes in the world of paper money will be focused on one of the greatest sales ever held by Stack’s.

This is the inaugural show held by Whitman in Philadelphia. As of today, the September gathering is already a success! Or at least there is every indication of such. A “sold out” notice has been posted by one recommended hotel near the Convention Center, and rooms are going fast at the others. Word has spread, and it seems that this paper money sale will be a gathering of eagles-with just about everyone in this specialty in attendance, or represented by an agent, or bidding in real time on the Internet.

Beyond Part I and Part II of the Americana Sale, Stack’s expect that the exposition itself will be a great drawing card. Hundreds of dealers will be on hand, and some great programs will be presented. Among these will be Dave Bowers’ telling of “Famous Numismatists I Have Met-from B. Max Mehl to Date.” You are cordially invited to attend. Similar to the spectacularly successful Whitman shows in Baltimore, the Philadelphia event is very conveniently located. Draw a 500-mile circle around the city and you will probably encompass 70% or more of the numismatists in America.

PART 1 – CURRENCY

Great Collectors, Great Collections

Beginning the sale is the Chester L. Krause Collection of Wisconsin Obsolete Currency, Part I. Chet, as he is known, founded Numismatic News in 1952. In time, his business acumen, energy, and enthusiasm combined to grow what became Krause Publications, with dozens of different magazines, reference books, and price guides, all based in Iola, Wisconsin. Several important texts bear his name on the cover, including the Standard Catalog of World Coins, used all over the globe, and, relevant to our present offering, Wisconsin Obsolete Bank Notes and Scrip. (more…)