WORLD BANKNOTE AUCTIONS US SALE 2

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V26 2023 INDEX E-SYLUM ARCHIVE

The E-Sylum: Volume 26, Number 14, April 2, 2023, Article 27

World Banknote Auctions owner Dennis Hengeveld wrote this article about the firm's second U.S. currency sale. -Editor

World Banknote Auctions US Currency Sale 2 is set to take place on April 14 at 10 AM on www.worldbanknoteauctions.com. This auction is an excellent opportunity for collectors and enthusiasts to acquire rare and unique US currency from a variety of eras and denominations. World Banknote Auctions is known for its high-quality auctions, and this event is no exception. The sale includes a diverse selection of US currency notes, including Federal Reserve Notes, Silver Certificates, National Bank Notes, and more. Whether you're a seasoned collector or a new enthusiast, World Banknote Auctions US Currency Sale 2 offers something for everyone. With a variety of denominations and eras represented, bidders are sure to find the perfect addition to their collection. We have posted some highlights below, but the entire catalog can be found on www.worldbanknoteauctions.com.

Lot 2030 is an extremely scarce issuer of encased postage, a rather niche collecting area that combines coins, stamps and banknotes. Encased postage was a Civil War era invention meant to remedy the lack of circulating coin by putting stamps (which was being used as small-change) in a casing to protect them when used cas currency. The 1 cent in this lot was ordered by Stephen F. Ambler, who patented an innovative method for producing aërated bread, a new invention at the time. Survivors of this issue are incredibly rare, with less than fifteen known to exist, according to both the Hodder-Bowers and Fred L. Reed III references. The piece being auctioned is a pleasing high-grade example of this rare issuer, with intact mica and excellent eye-appeal, showing only slight scratches and polishing on the tabs. This is an excellent opportunity for collectors to own a piece of history that very infrequently appears at public auction. It carries a pre-auction estimate of $3,500 – $4,000.

The National Banknote selection starts off strong with a pair of banknotes from the First National Bank of Clifton, Arizona that are both pedigreed to the Peter Huntoon Collection. Lot 2040 is a Territorial Issue on this bank (1882 Date Back $10 graded Very Fine 25 by PMG), while lot 2041 is a State issue (1882 Value Back $20 graded Fine 12 by PMG). These two notes were separated at their 2007 auction, but have now been briefly reunited for this sale, and give an opportunity to advanced collectors to acquire a rare Arizona Territorial issue on a rare bank. The Territorial has a pre-auction estimate of $50,000 – $60,000 and the State issue has a pre-auction estimate of $8,000 – $10,000.

Situated in a canyon formed by the San Francisco River, Clifton, Arizona is a small community in Greenlee County that played a significant role as a base for the mining industry, primarily copper, in the region. In 1901, the First National Bank was established, becoming one of the most reliable banks in the entire state at one point. However, due to a struggling mining economy, the bank went into receivership just over two decades later in 1923. The bank, which succeeded the Bank of Clifton, had a maximum issue of $30,000 for most of its existence, only increasing to $50,000 during the final two years.

National Banknotes are a popular choice among collectors, with many focusing on location or specific periods, while others pursue certain bank names or denominations. A rare and appealing offering for collectors is lot 2060, a First Charter $100 from the Bunker Hill National Bank of Charlestown, Massachusetts, which is one of the scarcest types of National Banknotes, and this one features one of the most historical names of all National Banks. The design elements of this rarity remain clear despite having spent considerable time in circulation, with bold overprinting and strong vanity ink signatures. This is an incredibly rare opportunity to acquire a pleasing example of the type, as only nine notes from the bank are currently recorded in the census. With such limited supply, it is not likely to repeat anytime soon. It carries a pre-auction estimate of $40,000 – $50,000.

Collectors continue to show great interest in large size type notes, particularly those in original grades that have received the Exceptional Paper Quality designation from grading services. World Banknote Auctions' US Currency Sale 2 features two lots that are sure to draw attention from collectors. The first is Lot 2095, an 1886 $5 Silver Certificate (Fr. 260) graded Choice About UNC 58 EPQ by PMG. This note's back design features five Morgan Silver Dollars from 1886, which were the silver dollar in use at the time and could be exchanged for this note. This is a scarce type with high grade examples always in demand, and this particular note carries a pre-auction estimate of $10,000 – $12,000. The second lot is Lot 2105, a 1922 $100 Gold Certificate (Fr. 1215) graded Choice UNC 63 EPQ by PMG. This is the highest denomination that many collectors can hope to add to their collection, and uncirculated pieces are scarce. This high end example carries a pre-auction estimate of $8,000 – $10,000. Both notes are impressive examples of their respective grades and are sure to be coveted by collectors.

Lot 2161 is a sheet of 16 $10 Federal Reserve Notes from Boston, dated 2003 (Fr. 2037-A) including a note with low serial number 2. This sheet has been graded Superb Gem Uncirculated 67 EPQ by PMG. These notes bear the signature of then-Treasurer of the United States Rosario Marin and are from the first printing of this series. The sheet has been well-preserved and offers collectors the opportunity to own a rare and pristine piece of US currency with a rare single digit star note. It appears that these sheets were never made available to collectors on the BEP website at the time of issue, and the consignor indicated that the sheet was acquired privately from a BEP contact. With the serial number 3 star note of this district known as a single note, this theory appears to have at least some truth to it, although the exact reasoning how this got into the market remains somewhat obscure. The pre-auction estimate for this lot is $6,000 – $8,000

The final lot we would like to feature in this blog is a true small size rarity that is surely on the wish list of many collectors. Lot 2183 is a 1928 $500 Gold Certificate (Fr. 2407) graded PCGS About Uncirculated 55 Details. Despite a total print run of 420,000, few were issued into circulation, and even fewer were not turned in when the US went off the gold standard. With just 119 examples in the Track & Price census, demand for this note exceeds supply. This particular example shows only faint traces of circulation and retains its original color reminiscent of the gold coins then in circulation. This note is a great addition to any advanced collection of small size notes and carries a pre-auction estimate of $20,000 – $25,000.