Paper Money News – Rarities Shine in $3+ Million Stack’s Bowers ANA U.S. Currency Auction

 

Fr. 1700. 1933 $10 Silver Certificate. PMG Superb Gem Uncirculated 67 EPQ

Fr. 1700. 1933 $10 Silver Certificate. PMG Superb Gem Uncirculated 67 EPQ

The U.S. Currency sessions of the Stack’s Bowers Galleries Official Auction of the ANA World’s Fair of Money realized more than US$3 million as part of the firm’s ANA convention auction, which in total brought over $21 million. All prices realized include a 17.5% buyer’s premium. As could be expected, truly rare notes performed well with a number of census and condition rarities selling well within or above their estimate ranges.

In National Currency, a newly discovered and unique for the state Original Series $100 from the Salem National Banking Company of Salem, New Jersey, charter #1326, graded Choice Very Fine 35 Net “Restoration” by PMG (lot 10586) realized $164,500 against a pre-auction estimate of $80,000-$120,000. It is one of the highest-grossing National Banknotes at auction in recent years and shows that bidders will aggressively pursue great notes when they become available.

Also worthy of note among the National Currency offerings is an Original Series Ace from the People’s National Bank of Pueblo, Colorado Territory, charter #2134, graded Very Fine 25 Net “Corner Restoration” by PMG (lot 10523). That note blew past its $20,000-$30,000 estimate, selling for $49,350. It is just the second note to enter the census from this short-lived territorial bank and the first to ever appear at auction.

Among large size Federal type notes a rare “Triple Signature” Fr.1189a 1882 $50 Gold Certificate graded Fine 12 Apparent “Restorations, Rust Stains on Back” sold for $37,600 (lot 10366). This example was just the 13th of this rare type to be discovered and carried a pre-auction estimate of $10,000-$15,000.

Top population notes continue to show strength as attested by the $28,200 realization for a PCGS Gem New 66 PPQ Fr.347 1890 $1 Treasury Note (lot 10329), one of six graded by PCGS at that level with none graded finer. The realization landed it at the high end of the $20,000-$30,000 estimate range.

Small size Federal type notes were not to be outdone and several lots from that genre realized six-figure prices. A rare Fr.2220-F 1928 $5000 Federal Reserve Note from the Atlanta district graded Very Fine 35 Apparent “Minor Restorations” (lot 10482) sold for $117,500 at the high end of the $80,000-$120,000 estimate.

The finest graded Fr.1700 1933 $10 Silver Certificate, graded Superb Gem Uncirculated 67 EPQ by PMG, sold for $105,750 (lot 10408). This is the only example of the type to achieve a Superb Gem grade at either PMG or PCGS. The realization sat comfortably in the middle of the $75,000-$125,000 estimate for the lot.

Confederate currency remains the most consistently strong genre in American currency collecting, with scarce types and high grade notes continuing to draw vigorous bidder interest and robust prices. This was exemplified by the $14,100 price paid for lot 10130, a T-4 1861 $50 “Montgomery” graded Very Fine 20 Apparent “Stain on Face” by PCGS and pedigreed to the Old Virginia Collection. The lot had been estimated at $10,000-$15,000.

Collectors of manuscript issued “Train and Hoer” $100 notes of Types 39-41 continue to battle it out for rare and highly desirable notes as attested by the $4,700 price paid for a T-41 1862 $100 issued by Captain R.M. Oates of the 37th NC Regiment and graded Very Fine 35 PPQ by PCGS and also from the Old Virginia Collection (lot 10158).

We are currently accepting consignments to our November Official Auction of the Whitman Coin & Collectibles Winter Expo in Baltimore, Maryland. If you are interested in consigning, or have a currency related question please contact Currency Specialist Brad Ciociola at bciociola@stacksbowers.com or Director of Currency Auctions Peter Treglia at petert@stacksbowers.com.
 

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