STACKS-BOWERS SULLIVAN SALE, PART II

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V22 2019 INDEX E-SYLUM ARCHIVE

The E-Sylum: Volume 22, Number 31, August 4, 2019, Article 6

The second part of Michael Sullivan’s of American counterfeit detector collection is being offered in this month's Stack’s Bowers sales at the American Numismatic Association convention. Here's the press release, which incorporates the full lot descriptions of four highlights. -Editor

The Stack’s Bowers Galleries 2019 ANA Worlds Fair of Money U.S. Currency auction features the second portion of the MJS Collection (Michael Sullivan’s) of American counterfeit detectors and related documents. The live auction session will be held Friday, August 14, 2019 at 5:00 P.M. CDT in room 12-13 of the Stephens Convention Center in Rosemont. The 36 lots were cataloged, like the first part sold in March at Baltimore, by Bruce Hagen, and presented beautifully by the Stack’s Bowers graphic arts team. The MJS collection was formed across over a quarter-century, gathered for its relevance, rarity, beauty and, significantly, its relationships with American paper money. The volumes offered here mirror the later Obsolete Banknote issuing period and most of the descriptions within them provide the only record known of many note types.

This second offering from the collection complements the initial selection sold in March. It is not only vast in scope – like the March sale – but it also maintains the highest standards of quality of such books ever cataloged for sale. The March 2019 offering of the MJS Collection Part 1 emphasized detectors using “rules” such as the initial Foote detectors and most famously, the multiple types of Heath’s that were included. That sale also contained remarkable Autographical and Pictorial detectors. The items offered in the 2019 ANA World’s Fair of Money sale are an important continuation, featuring two other major genres of counterfeit detectors: Descriptive Lists and Bank Note Reporters.

Descriptive Lists are detectors that describe the vignette structures, layouts, and other information of a note for the publisher’s clients to compare banknotes to. The current offering also includes several rare different types of Bank Note Reporters in their original paper wrappers. Most of these are very rare and all are interesting. Related supplements printed by these publishers, such as those featuring coins in circulation, are also cataloged in this second part. The collection of Hodge’s is studied and cataloged in detail. The Dye’s/Hodges’ series is examined and assigned “Sullivan Type” letters.

Of the 18 different types confirmed by Michael, there are 15 cataloged for sale here. The initial 1855 Dye’s Bank Note Delineator offered here is considered the first of its genre, and quickly evolved into the Hodges’ volumes. The descriptive pages were designed as a grid with the vignette details brief due to the small space of each “rectangle” in the grid. However, the quantity of listings in 300 some pages was extensive. These large volumes were usually poorly made, and their tall size made them susceptible to handling and damage, as they were not a perfect fit for standard shelves of the period. Choice, originally bound examples are very rare. The majority of the Hodges’ offered here have been expertly bound in three quarter Morocco leather and are now beautiful and sturdy examples. The examples known, but not in the collection, are featured on an appendix page with diagnostics and pedigrees.

1855 Dye’s Bank Note Plate Delineator. Sullivan Type A. Original Brown Half-Calf. Fine.

1855 Dye’s Bank Note Plate Delineator spine

An extremely important volume in the field of counterfeit detectors and the template for the pagination of the Hodges' Bank Note Safe-Guard books that followed. This is, as originally bound, and in excellent condition. A great rarity.

Titles and Specifications: Dye, John S. Dye's Bank Note Plate Delineator; A Spurious and Altered Bill Detector, Giving Printed Descriptions of the Genuine Notes of Every Denomination, of All the Banks Doing Business throughout the United States and British North America. Complete. Published by John S. Dye, Exchange Broker, Publisher of "Dye's Bank Mirror," 172 Broadway, Corner of Maiden Lane, New-York, 1855. First edition. Folio 35.0cm by 21.5cm. Original brown half-calf with brown cloth sides. (2), (2), 3-94, 93-94, 95-287, (1) pp. Boarded typographical depictions of bank notes organized 3 by 9 to a page.

Notes: Only two other examples have been offered at auction in the last 40 years (see Stack's-Kolbe-Ford Library Part I, 2004, lot 427 and Heritage-Newman Part XI, 2018, lot 15206). The deteriorated Newman copy was bound in embossed cloth with a printed lithographic front wrapper. The Newman part XI sale lot description, authored by David Fanning, elaborates on this landmark title: "An extremely rare and important volume. Its groundbreaking status as the first work to provide detailed information on genuine bank notes is stated by Dye in the introductory text: "The Paper currency of the United States is so varied in design, that the Counterfeiters could sport on the ignorance of the people, for no Detector that was ever published described the genuine note, the force of all publications that are devoted to money, being directed towards the spurious, altered and counterfeit." Dillistin (page 146) observes that Dye's groundbreaking work "appears to have had a rather brief existence" but that soon thereafter "J. Tyler Hodges ... undertook the publication of Hodges' New Bank Note Safe-Guard. The description of the notes and the style in which they are presented is identical with that of Dye's Delineator." Dillistin concludes Hodges pirated the Dye publication, but this is now held to be unlikely, given that Hodges's Safe-Guard was published for a number of years, apparently without any objection for Dye, and that the first edition of Hodges would seem to have been printed from the very same plates as Dye'sDelineator--all of which suggests a legal transfer of ownership. Whatever its ultimate legacy, Dye's landmark 1855 work is very rare." Importantly, he also notes the ANS Library lacks a copy and it was not in Champa, Fuld, nor Bass libraries.

Pleasing with its original boards intact and spine details. Internally, exceptional throughout with embossed pagination mostly; bright and handsome. For its type, a Fine and choice copy. Its condition and rarity provide a powerful combination. Contemporary notation on front leaf "West River Bank [Jamaica, Vermont]." Ex: Kolbe Sale 97, March 22, 2002, lot 2. This is a groundbreaking volume indeed in the canon of counterfeit detectors and a beautiful example. Estimate: $2,500 - $5,000.

1856 J.T. Hodges’ New Bank Note Delineator. Sullivan Type B. Fine Contents and Finely Bound.

The first Hodges' title and important as the transition from the 1855 Dyes's using the identical description plates. This 1856 "transitional" type merits much discussion and has been studied for generations by Dillistin and in the modern era by scholars such as Eric Newman and current bibliophilic catalogers. Finely bound, matching most of the Hodges' in this collection, in impeccable style. These bindings were done by Sam Ellenport, binder of most of the fine volumes sold in the MJS Collection Part 1 Sale in March 2019.

Titles and Specifications: Hodges, John T. Hodges' New Bank Note Delineator; A Complete Spurious and Altered Bill Detecter, Giving Correct Printed Descriptions of All the Genuine Notes of Every Denomination, of All Banks Doing Business throughout the United States and Canada. The Only Work of the Kind Extant. New-York: Published by Hodges & Company, 1856. First edition. Folio 34.0cm by 21.0cm. Bound in three quarter morocco leather, spine compartments titled in gilt, front board titled in gilt. Printed yellow lithographic front wrapper, 2-page index, title page & verso, 3-310 pp., printed yellow lithographic rear wrap. Boarded typographical depictions of bank notes organized 3 by 9 to a page.

Notes: The first work of this genre, as discussed in the prior description, is Dye's Bank Note Delineator, 1855 followed by J. Tyler Hodges 1856 work noted here using the same plates. Dillistin notes that "there can be no question that Hodges' publication was originally prepared from the identical plates used by Dye." Charles Davis concluded "the Dye was published in but a single edition, raising the possibility that one legally succeeded the other." Regardless of what the link between Dye and Hodges was legally, all [researchers] agree Hodges' and Dye's were printed from identical plates and both bear "identical errors in the spelling of place names." The Hodges' work is distinctive for the individual depictions of 27 note layouts per page (9 x 3 format). The depictions visually identify the locations all of primary design elements and their relative positions on the banknotes. J. Tyler Hodges printed the Delineator starting in 1856 then retitled it as the Bank Note Safe-Guard in 1857. Publishing responsibilities transitioned to Daniel M. Hodges, J. Tyler Hodges' brother, resulting in Hodges' American Bank Note Safe-Guard (1861 and 1862 revised edition). Finally, responsibility fell upon Daniel M. Hodges' son, Edward M. Hodges, yielding the 1862 (unknown to Dillistin transition volume, Sullivan Type N as offered in this collection) 1863, 1864, and final 1865 editions.

The only other example traced at auction is the inferior Champa-Newman copy (Bowers & Merena, Champa Part I, November 1994, lot 340, subsequently Heritage's Newman Part XI, November 2018, lot 15307). The Newman Part XI sale lot description discussion is as follows: "The very rare first issue of what came to be known, in subsequent editions, as the Bank Note Safeguard. The Hodges family were publishers of a prominent New York bank note reporter, along with several other similar publications, from the mid-1850s to the mid-1860s. According to Dillistin, this important work was pirated from John Dye's 1855 Bank Note Plate Delineator, but this is almost certainly incorrect. This 1856 issue was unknown to Dillistin and, given that it appears to have been printed from the identical plates used for Dye's 1855 work, it would seem that the copyright had been legally secured. All of the various editions are rare, but the first edition offered here is very rare indeed. The binding on this copy is damp-stained; text generally free of staining, though occasional exceptions are seen. Good to very good." There is also an example in the ANS Library.

This MJS example is a lovely book. Within its elegant Sam Ellenport binding, sharp contents and fully Fine or better, Internal pages clean throughout, but with some penciled corner page marks made in modern era. Yellow wrappers bold, perhaps slightly trimmed at the front. Colorful and exceptionally visual. Ex: Gordon Frost Library sold as Kolbe & Fanning 2012 New York Sale, January 7, 2012, lot 297. Essential to any significant numismatic library and important in the grand scheme of Hodges' detectors.

1863 Edward M. Hodges’ American Bank Note Safe-Guard. “Revised and Corrected and Arranged” Edition. Sullivan Type O. Original Decorated Cloth. Fine.

The 1863 Hodges' have two variations that are observed by the grid page details as discussed in the descriptions. This is a lovely and rare book in its original decorated cloth.

Titles and Specifications: Hodges, Edward M. Hodges' American Bank Note Safe-Guard; Giving Fac Simile Descriptions of Upwards of Ten Thousand Bank Notes Embracing Every Genuine Note Issued in the United States & Canada. Revised and Corrected, and Arranged Geographically and Alphabetically. The Most Effectual Detector of Spurious, Altered and Counterfeit Bills Ever Published. The Only Work of the Kind Extant. New-York: Arranged and Published by Edward M. Hodges, 1863. Folio 35.5cm by 22.0cm. Bound in original burgundy decorated cloth with gilt titling. (3), 4-340 pp. Boarded typographical depictions of bank notes organized 3 by 10 to a page.

Distinguishing Features: The Sullivan Type O and Type P versions are nearly identical. They have to be differentiated by comparing the note descriptions. Using page 53 as an example, the O-version describes in column 3, note 7 from the top "People's Bank of Derby Line, VT $10." This same note position in the P- version is "People's Bank of Derby Line, VT $5" and column 3 notes 8 and 0 are "Title of Bank" - no note listed. The first edition to include the U.S. postage currency.

Notes: Most Hodges' extant are in a poor state of preservation since the spines were manufactured weakly and the books were taller than most book shelves. This is superior to most Hodges' encountered.

Fully original and choice; extremely rare as such. The bright pages and bold decorated boards are appealing. There is only very faint looseness in the binding. The appearance of the Postal Currency is key content. Ex: Kolbe & Fanning 2012 New York Sale, January 7, 2012, lot 302; previously in the Champa Library Sale III (Bowers & Merena, 1995, lot 1331) and the Stack's-Kolbe Ford Library Sale I June 1, 2004, lot 592. Exceptional and we can't imagine a finer example in its original binding.

1864 Edward M. Hodges’ Bank Note Safe-Guard. “Revised and Corrected and Arranged” Edition. Sullivan Type Q. Fine Contents and Finely Bound.

The penultimate edition of the historic Hodges' titles and rare. This is another beauty and now richly bound by Sam Ellenport to match the others here. A significant pedigree to the Newman Library.

Titles and Specifications: Hodges, Edward M. Hodges' American Bank Note Safe-Guard; Giving Fac Simile Descriptions of Upwards of Ten Thousand Bank Notes Embracing Every Genuine Note Issued in the United States & Canada. Revised and Corrected, and Arranged Geographically and Alphabetically. The Most Effectual Detector of Spurious, Altered and Counterfeit Bills Ever Published. The Only Work of the Kind Extant. New-York: Arranged and Published by Edward M. Hodges, 1864. Folio 35.5cm by 22.5cm. Bound in three quarter morocco leather, spine compartments titled in gilt, front board compartment with original decorated cloth and gilt titling. (3), 4-340 pp. Boarded typographical depictions of bank notes organized 3 by 10 to a page.

Notes: This edition's rarity is confirmed from the Newman Part XI sale description and discusses this as follow: "......Original subscription receipt for Hodges' Journal of Finance and Bank Note Reporter affixed to front pastedown; a printed circular for George H. Barker as agent for Hodges tipped in; small yellow printed circular for Barker, advertising various Hodges publications, tipped in at title page. A very rare late edition, lacking from the Champa, Bass and Ford libraries and not represented in the American Numismatic Society Library. Joints cracked and reinforced with cloth tape; spine also reinforced with cloth tape. Overall condition very good." The 1865 "Safe-Guard," published by Edward M. Hodges is Sullivan Type R, but is not included in the collection. It is another extremely rare volume and significantly had the Confederate controlled area's notes removed.

Handsome and bright internally. There are minor restorations to the front wrapper. Inserts are gorgeous. Very handsomely bound like the rest of the set and visually exciting. Ex: Heritage-Ex: Heritage's Newman Part XI Library, November 2018, lot 15315.

Distinctive and extremely rare. The final Hodges' volume in a collection carried across an amazing acquisition tenure of twenty-five years. A feat that might never be duplicated in this scope.

A fascinating collection of early bank note detectors from a tumultuous time in American financial history. -Editor