RARE HAWAIIAN CURRENCY IN KAGIN'S AUCTION

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V24 2021 INDEX E-SYLUM ARCHIVE

The E-Sylum: Volume 24, Number 10, March 7, 2021, Article 22

Here's a press release about the Hawaiian paper money offered in the upcoming Kagin's sale. Rare and interesting pieces. -Editor

Offered in Kagin's March 12th 2021 auction is "The Aloha Hawaiian Collection" including high-grade examples of the earliest and rarest Hawaiian scrip currency. Each note is graded by Numismatic Grading Corporation and listed in Hawaiian Money by Donald Medcalf and Ronald Russell.

Hawaii's sugar industry started in 1835 on the Island of Kauai. Ladd & Company signed a lease with King Kamehameha III and issued scrip in 1837 to pay workers. The company went bankrupt and the Government seized their assets. The finer of just two reported known notes, a PMG CU-63 $1/8th HAPAWALU 2PE-1 last sold in the Superior 2/75 sale of the incomparable A.J. Ostheimer Collection begins the offering.

Hawaii - Wailuku Female Seminary - 2PE-5 - Hapaumi - PMG 63 - FRONT - PMG1819586-002

The 1844 WAILUKU FEMALE SEMINARY 1 HAPAUMI (approx. 10 cent) note is another seldom seen or offered note. The Seminary opened July, 1837 in Wailuku, Maui and was dedicated to teaching domestic arts to native girls. Missionaries imported a printing press to Honolulu in 1820 and in 1833 the press was shipped to the Lahainaluna Seminary. At the time there was an acute shortage of coins to pay the male employees so in 1844 they printed scrip in red on thin cardboard. The finest of only 5-6 known, graded PMG CU-63, is part of the Aloha Collection.

An additional $200 of these notes were made to order for sugar manufacturer, Edward Bailey and were counter-stamped "Edward Bailey". A PMG VF-35 specimen is in the unreserved auction. Both notes are extremely rare.

Highlighting this collection is the Unique 1844 "Bernard" Money note which according to the cataloger, is its only public appearance in over a half century. John Bernard, and Englishman, Godfrey Rhodes, leased 150 acres of land in Hanalei, Kauai, from the Hawaiian Government. Like Bailey, Bernard had $850 worth of notes printed by the Lahainaluna Seminary who counter-stamped "Bernard" on them. A single known AU-50 HOOKAHI DOLLAR is offered.

A six-note set of LAHAINALUNA SEMINARY CURRENCY is offered provisionally in six lots and then as a single lot. It is believed by the cataloger to possibly be the finest known cut sheet.

Additional Hawaiian currency, coins and medals and U.S. currency, encased postage stamps and more can be viewed on-line at www.Kagins.com.