Stack’s Bowers October 2018 Baltimore Paper Money Sale Tops $11.1 Million

by CoinNews.net on November 9, 2018 · 0 comments

The Official Currency Auction of the Whitman Coin & Collectibles Winter Expo, presented by Stack’s Bowers Galleries (StacksBowers.com), saw total sales that exceeded $11.1 million.

Guthrie, Oklahoma. $10 1882 Brown Back

This serial number 1 1882 $10 Brown Back from the Capitol National Bank of Guthrie, Oklahoma brought $33,600

Part III of the Joel R. Anderson Collection realized over $8.6 million, while the Caine Collection of Federal Proofs and Essays, Part I, brought over a million dollars. The firm’s regular live and Internet sessions added $1.48 million to the sale total. All prices include the 20% buyer’s fee.

The first currency offering of the Stack’s Bowers Galleries Official Auction featured Part III of the Joel R. Anderson Collection of United States Paper Money. The 54 lots presented in the stand-alone catalog realized $8,619,240, with an average per lot price of nearly $160,000.

The highlight of the evening was the "Holy Grail" of American currency, the note voted to the top spot in Q. David Bowers and David Sundman’s 100 Greatest American Currency Notes. Lot 3042, the Anderson example of the 1890 $1000 "Grand Watermelon" Treasury Note, graded About New 50 by PCGS Currency, is one of only two Fr. 379a notes in private hands.

Friedberg 379a 1890 $1000 Treasury Note. PCGS Currency About New 50

Friedberg 379a (W-4580). 1890 $1000 Treasury Note. PCGS Currency About New 50. This note realized $2,040,000.

It was the first note to cross the $1 million mark when it was last auctioned in October 2005. Thirteen years later in Stack’s Bowers Galleries’ Baltimore auction, it nearly doubled that realization, bringing $2.04 million.

Among other highlights, lot 3016 offered a unique Act of October 12, 1837 $100 Interest Bearing Note, the only known federal note issued between the 1815 Treasury Notes and the Demand Notes of 1861. This example, the only issued note from this early federal series, brought $114,000, over four times the high estimate.

Hessler X99D. 1838 $100 Interest Bearing Note. PCGS Currency Very Good 10.

Hessler X99D. 1838 $100 Interest Bearing Note. PCGS Currency Very Good 10. This rarity brought $114,000.

The only Refunding Certificate presented in Part III of the Anderson Collection, an About New 58 PPQ Fr. 213 $10 in lot 3024, was bid to $780,000. It is the only privately held example of just two known, with the other permanently ensconced in the Bureau of the Public Debt. The conclusion of this third part brings the total to date for the Joel R. Anderson Collection to over $26 million, with one more offering planned for February 2019 in Baltimore.

Friedberg 213. 1879 $10 Refunding Certificate. PCGS Currency Choice About New 58 PPQ

Friedberg 213 (W-1510). 1879 $10 Refunding Certificate. PCGS Currency Choice About New 58 PPQ. This certificate realized $780,000.

The Anderson Collection was immediately followed by Part I of the Caine Collection of Federal Proofs and Essays, an unprecedented offering of these rare and fascinating items. The 113 lots featured in the Caine Collection Part I catalog brought over $1 million, highlighted by lot 4074 which offered face and back proofs for the 1891 $500 Treasury Notes and was bid up to $120,000.

1891 $500 Treasury Note Face Proof Pair

1891 $500 Treasury Note Face Proof Pair, part of lot 4074 which sold for $120,000

Part II of the Caine Collection will cross the block at the Stack’s Bowers Galleries Official Whitman Expo Auction in February 2019.

In addition to these specialized catalogs, Stack’s Bowers Galleries also presented live and Internet sessions featuring a diverse array of United States paper money. National banknotes were again a key attraction, and included a newly discovered serial number 1 1882 $10 Brown Back from the Capitol National Bank of Guthrie, Oklahoma. This note, graded Choice Very Fine 35 by PMG, realized $33,600.

Guthrie, Oklahoma. $10 1882 Brown Back

This serial number 1 1882 $10 Brown Back from the Capitol National Bank of Guthrie, Oklahoma brought $33,600

Also notable was a new-to-the-market serial number 1 $5 Brown Back from the First National Bank of Orlando, Florida graded Very Fine 30 by PMG. It crossed the block for $30,000.

1882 $5 Orlando Brown Back

This serial number 1 $5 Brown Back from the First National Bank of Orlando, Florida sold for $30,000

Among large size notes, a PCGS Currency Extremely Fine 45 graded Fr. 831 $50 Federal Reserve Bank Note from St. Louis realized $30,000, while, $26,400 was the high bid for a PCGS Currency Very Choice New 64 PPQ graded Fr.127 1869 $20 "Rainbow" Legal Tender Note.

1918 $50 Federal Reserve Bank Note

This 1918 $50 Federal Reserve Bank Note from St. Louis sold for $30,000

Small size currency was highlighted by a scarce replacement note, a Fr.2400* 1928 $10 Gold Certificate. Graded Gem New 65 PPQ by PCGS Currency this example sold for $28,800.

1928 $10 Gold Certificate Star Note

This 1928 $10 Gold Certificate Star Note realized $28,800

Also worthy of mention is a serial number 5 Fr.1500 1928 $1 Legal Tender Note graded About Uncirculated 55 by PMG. This new discovery, which had been presented to Olga Hirsch by Treasurer N.O. Woods, sold for $21,600.

1928 $1 Legal Tender Note

This 1928 $1 Legal Tender Note realized $21,600

Among colonial currency, a nearly new MA-164 August 18, 1775 7 Shillings 6 Pence "Sword in Hand" note graded Choice About New 58 by PCGS Currency brought $19,200.

1775 7 Shillings 6 Pence

This 1775 7 Shillings 6 Pence sold for $19,200

Stack’s Bowers Galleries (StacksBowers.com) next live currency auction event will be in in conjunction with the 2019 Whitman Coin & Collectibles Spring Expo in Baltimore.

For more information, or to discuss consignment opportunities contact Director of Currency Peter Treglia at PeterT@stacksbowers.com or Currency Specialist Brad Ciociola at BCiociola@stacksbowers.com.

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