Small Size and Error Notes Led in Heritage September Long Beach Currency Auction

by Heritage Auctions on September 19, 2011 · 0 comments

Heritage Auctions’ Long Beach Signature® Currency Auction, held in Long Beach, CA, September 7-9, realized $5.52 million — including the two non-floor sessions held on Sept. 11-12. All prices include a 15% Buyer’s Premium.

Heritage September Long Beach Currency Auction Highlights

A few currency highlights from the Heritage September Long Beach Currency Auction. (Larger images below.)

The auction began with a large selection of World Notes representing 94 countries. The Chinese and Cuban notes, in particular, brought strong prices.

The China Commercial Guarantee Bank of Chihli 50 Taels 1912 Pick S2514Ds S/M#P33 Specimen graded PMG About Uncirculated 55 brought $7,475, with several other Chinese notes realizing similar results.

The auction included a large selection of rare Cuban material with the top seller being a Cuba Republic 10,000 Pesos 1950 Pick 85s Specimen graded PCGS Very Choice New 64PPQ, which brought $5,750.

Cuba Republic 10,000 Pesos 1950 Pick 85s Specimen

This Cuba Republic 10,000 Pesos 1950 Pick 85s Specimen realized $5,750 in the Heritage September Long Beach Currency Auction.

The Russia 5 Gold Rubles 1924 Pick 188s Specimen graded PMG Choice About Unc 58 EPQ far surpassed the estimate of $500+ when a number of competing bidders drove it to a closing price of $5,463.

Other Session One highlights included a PMG Superb Gem Unc 67 EPQ BC-31bA $5 1954 Devil’s Face Replacement that fetched $28,750.

The Kings Mountain Collection, containing primarily Colonial notes from the Southern States, including many rare pieces, saw strong prices for a number of offerings. Foremost among them was the exceedingly scarce North Carolina 1780 $50 Independence PCGS Very Fine 30 example that realized $10,350.

North Carolina 1780 $50 Independence

This North Carolina 1780 $50 Independence note realized $10,350 in the Heritage September Long Beach Currency Auction.

Not surprisingly, the Obsolete with the highest winning bid was the Salt Lake City, UT- California & Salt Lake Mail Line $50 1863 graded PCGS About New 53. That coveted note brought $40,250.

National Bank Notes were offered during Session Two. Two notes from Palm Beach County, Florida, brought strong prices in particular with the Lake Worth, FL – $5 1902 Plain Back Fr. 607 The First NB Ch. # 11716, graded PCGS Very Fine 30, selling for $44,563, while the West Palm Beach, FL – $10 1902 Plain Back Fr. 634 The American NB Ch. # (S)12057 example, with a PCGS grade of Very Fine 35PPQ, realized $37,375.

West Palm Beach, FL - $10 1902 Plain Back

This West Palm Beach, FL - $10 1902 Plain Back realized $37,375 in the Heritage September Long Beach Currency Auction.

Other Nationals of note were the PCGS Apparent Very Fine 20 San Francisco, CA – $20 Original National Gold Bank Note Fr. 1152 The First National Gold Bank Ch. # 1741 that hammered for $43,125, the Tombstone, AZ – $10 1902 Plain Back Fr. 628 The First NB Ch. # (P)6439, graded PCGS Very Fine 30PPQ, that sold for $41,688 and the Eaton, CO – $10 1882 Brown Back Fr. 490 The First NB Ch. # 6057, graded PCGS Very Fine 30PPQ, that catapulted well beyond the pre-auction estimate of $12,500+ to cross the auction block for $37,375.

Eaton, CO - $10 1882 Brown Back

This 1882 Eaton, CO $10 Brown Back tripled estimates and realized $37,375 in the Heritage September Long Beach Currency Auction.

Small Size Notes and Errors were offered during Session Three. As expected, the top selling lot among the Small Size offerings was the Fr. 2221-B $5000 1934 Federal Reserve Note PCGS Very Choice New 64PPQ, which realized $132,250.

Fr. 2221-B $5000 1934 Federal Reserve Note

This Fr. 2221-B $5000 1934 Federal Reserve Note realized $132,250 in the Heritage September Long Beach Currency Auction.

The Grand Forks, ND – $20 1902 Plain Back Fr. 658 The Northwestern NB Ch. # 11142 Double Denomination Error note handily surpassed the estimate and sold for $69,000.

Session Four contained Large Size Type Notes, with the standout among the grouping being the Fr. 165a $100 1862 Legal Tender PCGS Apparent Very Fine 30, which sold for $69,000.

1862 $100 Spread Eagle note

This 1862 $100 Spread Eagle Note realized $69,000 in the Heritage September Long Beach Currency Auction.

Additional highlights included the Fr. 150a $50 1863 Legal Tender PCGS Apparent Fine 15, with a winning bid of $32,200 and the Serial Number One Fr. 897a $10 1914 Red Seal Federal Reserve Note PCGS Extremely Fine 40PPQ, which realized $29,900.

About Heritage Auctions

Heritage Auctions, headed by Steve Ivy, Jim Halperin and Greg Rohan, is the world’s third largest auction house, with annual sales more than $600 million, and 500,000+ online bidder members. For more information about Heritage Auctions, and to join and gain access to a complete record of prices realized, along with full-color, enlargeable photos of each lot, please visit HA.com.

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