The Bureau of Engraving and Printing (BEP), the government agency responsible for printing U.S. currency, reported August production totals on Tuesday that shows a quicker pace.

667,520,000 U.S. banknotes were manufactured in August worth $10,547,200,000. That compares to 576 million notes worth $9.8 billion in July.

Substantially more $1s, $5s, $20s, and $100s were produced for the month while the volume of $10s printed were identical to July’s figures.

In addition, the BEP printed 1.92 million $100 star notes, which are replacements for misprinted notes or certain serial numbers, like 000 000 000. Star notes are generally more desirable to collectors, as they are rarer.

Spread across the 31 days in August and counting weekends and holidays, the BEP averaged more than 21.5 million notes per day with a total daily face value worth about $340 million, which would be enough for every man, woman and child in the U.S. to have slighter over $1.

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Dallas, TX: Heritage Auction Galleries, the official auctioneer of the Long Beach Coin, Stamp & Collectible Expo, will conduct a 6,000+ lot Currency Signature® Auction on Wednesday, Thursday, and Friday, September 17-19, 2008 at the Long Beach Convention Center, 100 South Pine Ave., Long Beach, California.

The Convention Center is also the site of the Long Beach Coin, Stamp & Collectible Show, as well as the location for lot viewing for all Heritage auctions. Nearly 2,000 of the lots will be included as part of the online session.

“The auction is anchored by the impressive $5mm+ Jupiter Collection and the Dr. Edward and Joanne Dauer Collection of Demand Notes,” said Dustin Johnston, Consignment Director for Dallas-based Heritage. “Other notable collections include offerings from the Albert Rollins Collection, The Norman Collection, The Sandpoint Collection of Idaho Nationals, and another installment from the Collection of a Louisiana Gentleman.”

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The Bureau of Engraving and Printing (BEP) is responsible for printing U.S. currency, and their reported July banknotes totals have been released. Note production was substantially lower for the month.

576,000,000 U.S. banknotes were manufactured in July worth $9,766,000,000. That compares to 649.6 million notes worth $15.5 billion in June.

More than $5 billion of the difference came from a reduction of $100s in July. Fewer $5s were also produced while the quantity of $1s, $10s and $20s slightly increased.

Spread across the 31 days in July and counting weekends and holidays, the BEP averaged nearly 18.6 million notes per day with a total daily face value worth $315 million, which would be enough for every man, woman and child in the U.S. to have slighter over $1.

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“Queen Mary” $500 1911 is One of Only Three Known to Exist

Dallas, TX: Heritage Auction Galleries will offer one of the rarest Canadian notes ever printed, the “Queen Mary” $500 1911, in their upcoming Long Beach Currency Signature Auction, to be held September 17-19, 2008.

DC-19 $500 1911

“This is an amazing note, one of the classic rarities in Canadian currency,” said Michael Moczalla, Consignment Director for Dallas-based Heritage Auction Galleries. “Until the discovery of this particular piece, there were only two examples known to exist in private hands. In fact, this type and denomination is so rare that it is even lacking in the official Bank of Canada collection!”

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Dallas, TX: Heritage Auction Galleries will offer the very first $2 note ever printed by the U. S. Government in their upcoming Long Beach Currency Signature Auction, to be held September 17-19, 2008. 

Fr. 41a $2 1862 Legal Tender PCGS Very Good 8

The large-size 1862 Legal Tender note (Fr. 41a) is serial number one, and has had four different owners over the past 100 years. Two of the four collectors have owned the note for approximately 70 of those 100 years.

“Due to an inability to pay its debts in gold or silver during the Civil War, the U. S. Congress authorized the printing of a new series of paper notes, called Legal Tenders, in denominations of $1, $2, $5, $10, $20, $50, $100, $500, and $1000″ said Jim Fitzgerald, Consignment Director for Heritage. 

“Initially resisted by the people, who were accustomed to the established gold and silver coinage, the Legal Tender Act of 1862 firmly established the paper money as a legitimate form of currency in the United States.”

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Dallas, TX: Heritage Auction Galleries’ upcoming Long Beach Currency Signature Auction, to be held September 17-19, 2008, will be anchored by the impressive Jupiter Collection.

“The collection contains a total of fifty-nine Large Size Type Notes and 11 Small Size High Denomination Notes, as well as a partial pack of twenty-five Large Size Federal Reserve Notes,” said Dustin Johnston, Consignment Director for Dallas-based Heritage.

“It was assembled by a collector with astute attention to quality and rarity. No note was added to the collection unless it was fully Gem in quality, one of the finest available for the type, or exceedingly rare.”

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Top Coin and Currency Honors from the Baltimore Rarities Sale Prior to ANA World’s Fair of Money Go to 1918/7-D Buffalo Nickel in PCGS MS-64 at $155,250, and 1928 $500 PMG Gem 65EPQ Uncirculated Gold Certificate at $97,750

IRVINE, Calif. – Bowers and Merena Auctions, America’s leading rare coin auction house, hosted their Baltimore Rarities Sale on July 26, 2008, at the Baltimore Marriott Waterfront, just prior to the ANA World’s Fair of Money. The auction presented approximately 1,100 coin and 200 currency lots and realized a total of $4,427,243.

Earning top dollar was Lot 384, a 1918/7-D Buffalo Nickel, FS-016.5, graded MS-64 by PCGS that realized $155,250. A major condition rarity, this near-Gem is easily among the finest-known survivors of the variety, with a PCGS Population of 31 and a mere three finer in MS-65.  Lot 1093, a 1795 Capped Bust Right Half Eagle, Small Eagle, BD-8, HBCC-3041, Miller-10, Rarity-5+, graded MS-63 PL by NGC, realized $146,625.

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Just last week Zimbabwe released $100 billion notes in an attempt to fight inflation. But the new banknote on the day it hit the street wasn’t enough to buy a loaf of bread. Today, reports say it will take $200 billion to buy that loaf, and $600 billion to buy a can of Coke.

While Americans may be feeling an increased change in the value of its dollar due to inflation (see inflation calculator for examples), it’s nothing compared to the Zimbabwe 2,200,000% inflation rate.

It’s the world’s highest, and in an attempt to change that, Zimbabwe will now slash ten zeros from currency, making $10 billion a revalued one dollar.

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The Bureau of Engraving and Printing (BEP) was slow in reporting June printed banknote totals, but they picked up the pace in bottom line production numbers.

Today’s released data reflects a manufacturing output of 649,600,000 U.S. banknotes in June worth a total of $15,504,000,000. That compares to 614.9 million notes worth $13.5 billion in May.

More than $1 billion of the difference came from new $20s, as none were printed in May. New $5s also stuck out with a nearly doubling amount.

Spread across June’s 30 days and counting weekends and holidays, the BEP averaged nearly 21.7 million notes per day with a total daily face value worth $516.8 million. Read the rest of this entry »

The U.S. public may be feeling a pinch of inflation’s rise, but it’s nothing compared to the stranglehold it has on Zimbabweans. On Saturday, the Zimbabwe’s Central Bank issued a new Z$100 billion banknote to try and combat the severe shortages of money.

How much will the new note buy? According to CNN and BBC reports, its not enough for lunch or, for that matter, a loaf of bread. Apparently, it is sufficient — at least for now — to purchase four oranges.

Zimbabwe is stricken by severe hyperinflation that some news agency’s have reported as high as 2,200,000% — the Zimbabwean government stopped providing figures long ago. Contrast that to an already outrageously high of 50,000 percent reported back in January when the central bank issued new $10 million notes.

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