Paper Money - Vol. LIX - No. 3 - Whole #327- May/June 2020

Paper Money Vol. LIX, No. 3, Whole No. 327 www.SPMC.org May/June 2020 Official Journal of the Society of Paper Money Collectors IPMS KC 2020 Cancelled. See page 171 for a note from Lyn Knight 1231 E. Dyer Road, Suite 100, Santa Ana, CA 92705 ? 949.253.0916 470 Park Avenue, New York, NY 10022 (Spring 2020) ? 800.566.2580 Info@StacksBowers.com ? StacksBowers.com California ? New York ? New Hampshire ? Hong Kong ? Paris SBG PM ANA2020 Consign 200410 America?s Oldest and Most Accomplished Rare Coin Auctioneer LEGENDARY COLLECTIONS | LEGENDARY RESULTS | A LEGENDARY AUCTION FIRM Consign World Paper Money by June 15 ? Consign U.S. Currency by June 22 Call Today About Consigning to Our Official Auction at the ANA World?s Fair of Money! 800.458.4646 West Coast ? 800.566.2580 East Coast ? Consign@StacksBowers.com ? www.StacksBowers.com Stack?s Bowers Galleries continues to realize strong prices for currency, as shown by these results from our recent auc- tions. We are currently accepting consignments to our Official Auction of the 2020 ANA World?s Fair of Money in Pittsburgh, Pennsylvania. Whether you have an entire cabinet or just a few duplicates, the experts at Stack?s Bowers Galleries are just a phone call away and ready to assist you in realizing top dollar for your currency. ANA World?s Fair of Money? Pittsburgh, Pennsylvania ? August 4-7, 2020 Consign to the Stack?s Bowers Official Auction at the Friedberg 184 (W-4060). 1869 $500 Legal Tender Note. PCGS Currency Choice About New 55 PPQ. From The Joel R. Anderson Collection. Realized: $1,440,000 Fr. 1700. 1933 $10 Silver Certificate. PMG Superb Gem Uncirculated 67 EPQ. Realized: $105,750 Auburn, Nebraska. $100 1902 Red Seal. Fr. 686. The First NB of Auburn. Charter #3343. PMG Very Fine 25. Realized: $66,000 Friedberg 346e (W-4581). 1891 $1000 Silver Certificate. PCGS Currency Very Fine 25. From The Joel R. Anderson Collection. Realized: $1,920,000 Fr. 2231-A. 1934 $10,000 Federal Reserve Note. Boston. PMG Choice Uncirculated 64. Realized: $216,000 Fr. 2220-D. 1928 $5000 Federal Reserve Note. Cleveland. PMG Very Fine 25. Realized: $168,000 Friedberg 376 (W-2938). 1891 $50 Treasury Note. PCGS Currency Gem New 65 PPQ. From The Joel R. Anderson Collection. Realized: $660,000 Rosebud, Montana. $10 1902 Plain Back. Fr. 632. The First NB. Charter #11437. PMG Choice Uncirculated 64. Serial Number 1. Realized: $48,000 Richmond, Virginia. Virginia Treasury Note. Sept. 25, 1861. $500. PMG Choice Very Fine 35. Realized: $78,000 Paper Money * May/June 2020 * Whole No. 327 PAPERMONEY ISSN???????? 0031?1162? Official?Bimonthly?Publication?of?The?Society?of?Paper?Money?Collectors? Vol.?LIX,?No.?3,? May/June?2020? ? 156 Cover Story Patent Dates on Early Large Size Currency and Certificates of Deposits?Peter Huntoon Patent?dates?are?curious?features?found?on?many?early?United?States?large?size?notes.?The?purposes?of? this? article?are?to?explain?what?the?patents?refer?to?and?to?list?their?occurrences.? 165 Alternating Plate Serial Font Sizes?Joe Farrenkopf Was?the?BEP?engraver?who?etched?the?digits?into?the?production?plates?unable?to?make?up?his?or?her?mind?about? the?digit?size??The?difference?in?the?digit?size?wasn?t?a?result?of?indecision?at?the?BEP.? Indeed,?the?difference?was? deliberate.? 173 An Alternate Look at the ?Giori? Jefferson Test Notes--Roland Rollins Jefferson?Center?notes?presumably?produced?in?Germany?are?generally?called?Giori?Jefferson?test?notes.? 179 Treasury Seal Varieties?Peter Huntoon This?article?illustrates?the?numerous?seals?that?were?employed?on?Treasury?currency?during?the? period? when?sealing?was?carried?out?in?the?Treasurer?s?office?and?explain?the?changing?patterns?of? use?that? occurred?during?that?era? 189 Dual Signatures on National Bank Notes?Frank Clark Nationals?that?had?the?same?person?serving?in?both?the?cashier?and?president?positions?are?illustrated.? 192 The First National Bank of Havre de Grace, Md.,--J. Fred Maples 194 Note Issuing Banks in Antebellum Fayette County, PA--Gerald Dzara 215 The SPMC Bank Note History Project (Part 1) By Mark Drengson ? Departments ? ? ? Advertisers Uncoupled 196 ? Stacks-Bowers IFC ? DBR/Denly's 201? Chump Change 202 ? Lyn Knight 164 ? Fred Bart/Vern Potter 203 Small Notes 204 ? CSNS 172 ? FCCB 205 Quartermaster Column 206 ? ANA 178 ? Whitman 214 Cherry Picker' Corner 209 ? PMG 188 ? PCDA IBC Obsolete Corner 212 ? Higgins Museum 195 ? Heritage Auctions OBC ? ? Pierre?Fricke?Buying and?Selling! 1861?1869?Large?Type,?Confederate?and?Obsolete?Money!? P.O. Box 33513, San Antonio, TX 78265; pierrefricke@buyvintagemoney.com; www.buyvintagemoney.com And many more CSA, Union and Obsolete BankNotes for sale ranging from$10 to five figures ? 153 Officers & Appointees ELECTED OFFICERS: PRESIDENT?Shawn Hewitt, shawn@shawnhewitt.com VICE-PRESIDENT? Robert Vandevender II rvpaperman@aol.com SECRETARY?Robert Calderman gacoins@earthlink.net TREASURER?Bob Moon robertmoon@aol.com BOARD OF GOVERNORS: Mark Anderson mbamba@aol.com Robert Calderman gacoins@earlthlink.net Gary J. Dobbins g.dobbins@sbcglobal.net Matt Drais Stockpicker12@aol.com Pierre Fricke pierrefricke@buyvintagemoney.com Loren Gatch lgatch@uco.edu Joshua T. Herbstman, jtherbstman@aol.com Steve Jennings sjennings@jisp.net J. Fred Maples maplesf@comcast.net Cody Regennitter cody.regennitter@gmail.com Wendell A. Wolka purduenut@aol.com APPOINTEES: PUBLISHER-EDITOR Benny Bolin, smcbb@sbcglobal.net ADVERTISING MANAGER Wendell A. Wolka LEGAL COUNSEL Robert Galiette LIBRARIAN--Jeff Brueggeman jeff@actioncurrency.com MEMBERSHIP DIRECTOR Frank Clark frank_spmc@yahoo.com IMMEDIATE PAST PRESIDENT-- Pierre Fricke WISMER BOOK PROJECT COORDINATOR--Pierre Fricke From Your President Shawn Hewitt May/June 2020 By now I?m sure you?ve heard the expression ?unprecedented times? more than you care to remember. As the lockdown associated with COVID-19 continues in mid-April, it?s true that our hobby is also significantly impacted, as several numismatic conventions and local shows have already been cancelled. As for the 2020 International Paper Money Show in Kansas City, we have just learned that this, too, is cancelled. Please see the announcement from Lyn Knight in this edition of the journal. While cancellation of our main paper money event is a sad occasion, I can?t help but feel optimism for the future. Lyn has suggested the possibility of a late 2020 gathering, but more than that, I am excited that moving the show to Las Vegas in 2021 is appearing likely. Back at the FUN show in January, Lyn first mentioned the idea to me, and I was intrigued by it. Since then I have come to believe that Las Vegas is an excellent choice for a venue. It almost seems obvious, and certainly better than any other location I?ve heard bantered about. So, here?s to a reboot of IPMS. I have a very good feeling about it. We still plan to hold voting for our literary awards soon, so watch our website (www.spmc.org) for the opportunity to cast your votes. We?ll figure out how we can bring parts of IPMS to you in the next several weeks. Back to the present, allow me to share my perspective on our times. As long as I can remember, my hobbies ? including collecting bank notes ? have been a refuge for me. Whenever the weight of national or global problems escalate, or the news and political climate take another turn for the worse, I like to take a mental break and retreat into a world where I have more control. It is here that I dive into history and enjoy my collections or other passions. Sometimes when I do so it will spark a new research project, or think about new ways in which to collect. Online auctions are getting more of my attention. The SPMC website has several resources in which you can tap to learn more about the notes you collect. Two primary ones are the Obsoletes Database Project and the Bank Note History Project. I encourage you to have a closer look at these, especially as you may have more time on your hands than you know what to do with these days. You may be surprised how much both of these have grown over the last year. To be sure, there are many important things that you must attend to during these trying times: the health of family and friends, your financial situation, and others. But when you find that you need a mental break, take a little time for yourself to enjoy ? and be grateful for ? what you have in your collections. It is my wish that all our membership remains healthy and safe. We will get through this, together. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 154 Editor Sez ?Wow! What else can one say? We seem to certainly redefined the term-Unprecedented Times! First and foremost, I want to say that I hope you all are safe and well. Never before have we had the adversities and concerns that we have today. As many of you know, I left for Hawaii when this was all just in its infancy and returned on a day that it seemed to really take off. I had not stocked up on anything food- wise as I did not want it to go bad and when I got back, stores were empty of the basics. It was just recently that I was able get TP! Being in the healthcare profession for over 40 years, this is a totally new and really scary time. I was in the profession when AIDS first came about as well as when SARS (bird flu) occurred. I was the director of the largest ER in Texas when the swine flu happened. I still remember seeing over 500 patients a day, setting up remote hospitals and treatment areas, but none of that compare to this. I give great kudos, thanks and accolades to all the health care workers, first responders who are working diligently to keep us safe. In prior times, we did not have the huge social media presence that we have today. While I feel that irresponsible social media has created a lot of unnecessary fear and yes, I said it?FAKE NEWS, the disease itself is certainly a force of its own, and a scary one at that. My main wish in all this (besides that it never happened or that no one got ill or worse) is that we could have leaders that focused on the PEOPLE FIRST instead of their own re-elections or career desires. Why can?t they just all work together to find a solution, take care of the people and get America and the world back to where it belongs. Okay, enough soap-boxing. Social distancing is the new norm. Eating at home, family game nights and just staying safe. Cancellations, delays are now the norm. These times have certainly changed the way we do things in the hobby. When can we go back to a show? Unfortunately, as mentioned in this issue, IPMC KC 2020 has been cancelled. Lyn Knight is working on alternatives and the SPMC governors are working to do some virtual presentations. One thing is we will still have our literary and obsolete registry awards. The voting for these will be as always, via the website www.spmc.org/vote (web address may not be exactly correct?check the website for the true web address. Our authors and registry set developers deserve your recognition, so please vote when the time comes. I encourage you to take this extra time you are staying in (if you indeed are) and write an article for Paper Money. I am always looking for new material and will be happy to help you in anyway I can. Until the next issue?Stay Safe! Benny Terms?and?Conditions? The Society of Paper Money Collectors (SPMC) P.O.Box 7055, Gainvesville, GA 305504, publishes PAPER MONEY (USPS 00-3162) every other month beginning in January. Periodical postage is paid at Hanover, PA. Postmaster send address changes to Secretary Robert Calderman, Box 7022, Gainesville, GA 30504. ?Society of Paper Money Collectors, Inc. 2020. All rights reserved. Reproduction of any article in whole or part without written approval is prohibited. Individual copies of this issue of PAPER MONEY are available from the secretary for $8 postpaid. Send changes of address, inquiries concerning non - delivery and requests for additional copies of this issue to the secretary. MANUSCRIPTS Manuscripts not under consideration elsewhere and publications for review should be sent to the Editor. Accepted manuscripts will be published as soon as possible, however publication in a specific issue cannot be guaranteed. Include an SASE if acknowledgement is desired. Opinions expressed by authors do not necessarily reflect those of the SPMC. Manuscripts should be submitted in WORD format via email (smcbb@sbcglobal.net) or by sending memory stick/disk to the editor. Scans should be grayscale or color JPEGs at 300 dpi. Color illustrations may be changed to grayscale at the discretion of the editor. Do not send items of value. Manuscripts are submitted with copyright release of the author to the Editor for duplication and printing as needed. 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The SPMC assumes no financial responsibility for typographical errors in ads but agrees to reprint that portion of an ad in which a typographical error occurs upon prompt notification. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 155 Patent Dates on Early Large Size Currency and Certificates of Deposits Patent dates are curious features found on many early United States large size notes. The purposes of this article are to explain what the patents refer to and to list their occurrences. A patent represents the exclusive right granted by a government to an inventor to manufacture, use, or sell an invention for a specific period. Patents can be taken out by inventors not only for gadgets but also for processes. The patents referred to by the patent dates found on early U. S. notes fall into the category of conceptual processes, all of which were innovations designed to deter counterfeiting. Obviously, a patent holder registers his invention in order to (1) win the exclusive right to manufacture and sell products that incorporate the concept, (2) license its use on a royalty basis, or (3) simply sell the concept. Pecuniary gain is the objective. The Patents I have identified five patent dates on early U. S. currency and certificates of deposit. Data pertaining to them and their occurrences on notes are summarized on Table 1. Two of the earliest were for anti-counterfeiting inks used to print the green tints on the faces of Demand Notes and 1862/3 Legal Tenders. These were Matthews? June 30, 1857 and Eaton?s April 28, 1863 patents. See Figure 2. The first item printed on the faces of those notes were the green tints, which were printed from intaglio plates (Hawkins, 1869, p. 208). The next was the black face design, which was superimposed onto the green tint. The idea underlying both of the patented green inks was that they were supposed to be virtually indestructible so they couldn?t be removed without damaging the black intaglio printing and the paper. This was supposed to prevent counterfeiters from obtaining a sharp photographic image of the black overlay because they couldn?t get rid of the green. Consequently, it was claimed that the green image would merge with that of the black on their negatives and produce a blob. The result was that when the Treasury contracted for the printing of the Demand Notes, and later for the 1862 and 1863 Legal Tender Notes, it was specified that Matthews?s green ink be used. This was Figure 1. Top part of the face of a $100 1862 Legal Tender Note with the June 30, 1857 Matthews patent date printed in green and an April 23, 1860 MacDonough patent date printed in black. The green tint was printed first. Figure 2. George Matthews? June 30, 1857 and Asahel K. Eaton?s April 28, 1863 patent dates on 1862 and 1863 Legal Tender Notes were for anti-photographic green tint inks. Eaton?s ink replaced Matthews? but ultimately neither worked. Eaton?s ink had a distinct bluish cast. The Paper Column by Peter Huntoon _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 156 Ta b le 1 . P at e n t d at e s th at a re p ri n te d o n e ar ly U n it e d S ta te s cu rr en cy a n d c e rt if ic at e s o f d ep o si t. P la ce m e n t o f P at e n t D at e N u m b e r P at e n t H o ld er P at e n t Ty p e & S e ri es P at e n t D at e U sa ge Ju n e 3 0 , 1 8 5 7 1 7 ,6 8 8 G eo rg e M at th ew s an ti -p h o to gr ap h ic g re en in k - D em an d fa ce t in t al l ch ro m iu m -s es q u io xi d e LT 1 8 6 2 /1 8 6 3 fa ce t in t $ 1 1 8 6 2 u se e n d s d u ri n g Se ri es 1 7 4 fa ce t in t $ 2 1 8 6 2 a ll fa ce t in t $ 5 1 8 6 2 a ll; 1 8 6 3 u se e n d s d u ri n g N ew S er ie s 6 5 fa ce t in t $ 1 0 1 8 6 2 a ll ex ce p t so m e Se ri es 5 -7 e rr o rs ; 1 86 3 u se e n d s d u ri n g N ew S er ie s 4 0 fa ce t in t $ 2 0 1 8 6 2 a ll; 1 8 63 u se e n d s d u ri n g N ew S er ie s 1 8 fa ce t in t $ 5 0 1 8 6 2 a ll; 1 8 63 u se e n d s d u ri n g N ew S er ie s 2 fa ce t in t $ 1 0 0 1 8 62 & 1 86 3 a ll fa ce t in t $ 5 0 0 1 8 62 a ll; 1 8 6 3 u se e n d s d u ri n g N ew S er ie s 1 fa ce t in t $ 1 0 0 0 1 86 2 a ll; 1 8 6 3 u se e n d s d u ri n g N ew S er ie s A p ri l 2 3 , 1 8 6 0 3 0 ,4 8 8 Ja m es M ac D o n o u gh re p et it iv e cy cl o id al o r ge o m et ri c la th e LT 1 8 6 2 /1 8 6 3 fa ce $ 1 & $ 2 a ll w o rk in co rp o ra ti n g co u n te rs a n d w o rd s LT 1 8 6 2 /1 8 6 3 fa ce t in t & b ac k $ 5 0 , $ 10 0 a ll A p ri l 2 8 , 1 8 6 3 3 8 ,2 9 8 A sa h el K . E at o n an ti -p h o to gr ap h ic g re en in k - LT 1 8 6 3 fa ce t in t $ 1 0 1 8 6 3 u se b eg in s d u ri n g N ew S er ie s 4 0 ; ch ro m iu m o f b ar yt a $ 50 1 8 6 3 u se b eg in s d u ri n g N ew S er ie s 2 Ju ly 2 4 , 1 8 6 6 5 6 ,6 5 0 Ja m es M . W ill co x p ap er w it h lo ca liz ed d is ti n ct iv e fi b er s LT 1 8 6 9 fa ce al l LT 1 8 7 4 b ac k al l LT 1 8 7 5 b ac k al l LT 1 8 7 8 b ac k al l e xc ep t $ 1 0 ,0 0 0 C ir cu la ti n g 1 8 7 3 b ac k $ 1 0 N o v 2 4 , 1 8 6 8 8 4 ,3 4 1 G eo rg e W . C as ile ar se ri al n u m b er s w it h o u t sp ac es a n d w it h LT 1 8 6 9 ti n t al l te rm in al c h ar ac te rs p ri n te d o n f in el y LT 1 8 7 4 fa ce al l en gr av ed b ac kg ro u n d LT 1 8 7 5 fa ce al l LT 1 8 7 8 fa ce al l LT 1 8 8 0 fa ce al l e xc ep t u se e n d s w it h R o se cr an s- Jo rd an LT C D 1 8 75 fa ce al l e xc ep t u se e n d s w it h R o se cr an s- Jo rd an w h en se ri al n u m b er p an el s w er e m o ve d t o t in t p la te G o ld 1 8 7 0 fa ce t in t al l e xc ep t p o ss ib ly $ 1 0 ,0 0 0 G o ld 1 8 7 5 fa ce t in t al l e xc ep t $ 1 0 ,0 0 0 C ir cu la ti n g 1 8 7 3 fa ce $ 1 0 SC 1 8 78 fa ce al l SC 1 8 80 fa ce al l e xc ep t u se e n d s w it h R o se cr an s- Jo rd an _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 157 carried out by the American and National Bank Note companies and the Treasury paid a royalty for its use. The problem was that the counterfeiters circumvented the safeguards afforded by the Matthews ink, a tale chronicled in detail by Reed (2008). The Matthews ink was dropped and the supposedly improved Eaton ink was substituted in 1863. Unfortunately, Eaton?s ink also failed the same mission. The respective patent dates, June 30, 1857 and April 28, 1863, were incorporated into the designs of the intaglio plates used to print the green tints on the faces of the notes. Consequently, both are printed in green. Their locations vary depending upon the denomination, but they are found free-standing under some part of the green tint. They can be difficult to discern on well-circulated specimens. The June 30, 1857 date was omitted from one or more of the tint plates used to print some $10 1862 Series 5 through 7 Legals, thus creating the Fr. 93e & f varieties, which classify as errors. James MacDonough, a founder of the National Bank Note Company, patented the concept of incorporating words and denomination counters into small mechanically engraved designs created on cycloidal and geometric lathes to form repetitive patterns that spread across large spaces on notes. His primary objective was to thwart the raising of notes because the denomination was repeated so many times. The first use of the concept on U. S. securities occurred on Act of March 2, 1861 six-percent interest bearing two-year Treasury Notes produced by the National Bank Note Company (McCabe, 2016, p. 230- 231). The concept also was used in the green tints for the faces of the $1 and $2 1862/3 Legal Tender Notes as well the green $50 and $100 backs as shown on Figure 3. The April 23, 1860 patent date was incorporated into the borders of the faces of the notes; specifically, in the black lower left bottom border of the $1s and $2s and green upper center-right top borders of the $50s and $100s. The date was duplicated on the backs of the $50s and $100s; specifically, in the upper border on the $50s and lower border on the $100s. The most aesthetic paper ever used for U. S. currency was produced by the Willcox Paper Mill in Glen Mills, Pennsylvania. James Willcox obtained a patent for his safety paper dated July 24, 1866 that was characterized by having a broad band on one side of the paper that contained pronounced distinctive fibers. The position of the band and the side of the note it appeared on varied depending on the series. For example, the band occurred on the faces of the Series of 1869 Legal Tender Notes where it was oriented vertically and occupied about a fifth of the width. In contrast, it appeared on the backs of the later series of Legal Tender Notes. The effect was achieved by introducing a slurry of pulp containing the distinctive fibers onto the surface of still-forming paper. The slurry merged with the substrate so that the distinctive fibers were pronounced on one side of the finished paper. Figure 3. MacDonough?s April 23, 1860 patent date from the back of an 1862 $100 Legal Tender Note for the repetitive cycloid work incorporating counters and words shown below. The patent date also was repeated on the face of the note as shown on Figure 1. This repetitive technique was used by the National Bank Note Company for the green face tints on the 1862/3 $1s and $2s, and the green backs on the $50s and $100s. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 158 The substrate used for the Series of 1869 notes already contained distributed but less pronounced fibers. Furthermore, the slurry with the distinctive fibers also carried a blue stain that penetrated through the full thickness to the other side. Willcox?s patent date appears on the Series of 1869 through 1878 Legal Tender Notes and also was used on the unissued Series of 1873 Circulating Notes. It occurs in a circular motif on the 1869 rainbow notes as shown on Figure 4. Otherwise it was placed on the backs as illustrated on Figure 5. The patent date that appeared on the largest selection of notes was that of George W. Casilear?s November 24, 1868 patent pertaining to securing serial numbers. Casilear was a designer who became Chief Engraver at the Bureau of Engraving and Printing. He registered several anti-counterfeiting patents. The concern he addressed with his 1868 patent was tamper-proofing of serial numbers. He felt that serial numbers with spaces between the characters that were printed on an open field invited mischief, such as the Treasury serial number illustrated on Figure 6. His patent addressed making serial numbers tamperproof in two ways. First, he eliminated the spaces between the characters and terminated both ends of the numbers with either letters or special characters such as brackets. Second, he specified that the numbers be overprinted on fine-lined mechanically-produced intaglio engraved work that would be damaged if the serial numbers were altered. The first partial application of his concept involved the overprinting of Treasury serial numbers on Original Series National Bank Notes beginning in April 1869. The spaces between the characters comprising the numbers were closed and terminal characters were employed that consisted of prefix letters or brackets mated with suffice brackets. No attempt was made to alter the intaglio face plates to include fine-line guilloche as background for the numbers. His patent date was not added to the plates mainly because the plates already were in existence, but also because his patented concept was not fully implemented without a fine-line intaglio background. Casilear?s November 24, 1868 patent date debuted on Series of 1869 Legal Tender Notes where the serial number panel and date were incorporated into the brown tint in very fine letters below the serial number. It was handled in like manner on the 1870 Gold Certificates. Casilear designed the faces of the unissued Series of 1873 Circulation Notes. One serial number panel was incorporated into the face design and it held the bank sheet serial number. As illustrated on Figure Figure 4. Willcox?s July 24, 1866 patent date for localized fiber paper used to print the Series of 1869 Legal Tender rainbow notes. The band of fibers on them appeared on the faces. Figure 5. Willcox?s patent date appeared on the backs of the Series of 1873 Circulating Notes and 1874 and later Legal Tender Notes. The band of threads was displayed in the open fields on the backs of these notes. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 159 8, it had a very elaborate frame into which was woven ?G. W. Casilear?s Patent Nov. 24, 1868.? As such, Casilear?s was the only name associated with a patent date to appear on notes and this was the first such occurrence. The backs of the Circulating Notes were engraved at the National Bank Note Company. Included on the left was a field of James MacDonough?s repetitive fine lathe work that incorporated counters and the words ?National Currency.? The Treasury sheet serial numbers were printed on the backs so undoubtedly, they were overprinted on MacDonough?s lathe work, which satisfied one of Casilear?s patent criteria (Cannon, 1885). But MacDonough?s patent date was not displayed on the notes. When the Series of 1874 Legal Tenders came along, the serial number panels were incorporated Figure 6. Serial numbers such as the Treasury sheet number on the left end of this Original Series National Bank Note with the gap following the prefix letter and lack of terminating character were considered insecure by George Casilear. Photo courtesy of Dave Bowers. Figure 7. Variable presentations of Casilear?s Nov 24, 1868 patent date: in fine letters as part of the brown tint at the base of the serial number panel on 1869 LTs (top), with name as part of the black intaglio face at the base of the serial number panel on 1874 LTs (middle), and as part of the gold tint at base of the serial number panel on 1875 GCs (bottom). _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 160 into the design of the black intaglio face plates instead of the tints. On these and successive series of Legal Tenders through the Series of 1880 Bruce-Wyman issues, the patent date was displayed as ?G. W. Casilear?s Patent Nov. 24, 1868? in the lower part of the left panels on each subject. Even though Casilear designed the Series of 1878/1880 Silver Certificates, he did not incorporate his name along with the patent date on them. The serial number panels on those notes are part of the black intaglio face design. His patent date appears in the scroll work below the number in the left panels. Figure 8. The most elaborate presentation of Casilear?s patent date occurred on the 1873 Circulating Notes where his name and the date are woven into the scroll work above and below the serial number panel. Figure 9. The locations of Caselear?s patent dates on the unissed Series of 1873 circulating notes is revealed by the blue ovals. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 161 End of Use Things became difficult for the Bureau of Engraving and Printing Bureau, and hot for Chief Engraver Casilear in particular, following passage of a Sundry Appropriation Act dated March 3, 1875. The act required that at least the last plate printing on National Bank Notes be carried out at the Treasury Department so in August Secretary Benjamin H. Bristow directed that faces of nationals be printed at the Bureau (Knox, 1875, p. LVII). From then on, progressively more work was assigned to the Bureau at a loss to the bank note companies including classes of currency other than nationals. The management in the bank note companies waged an all-out campaign demeaning the quality of the government work in an attempt to regain their lucrative contracts. Casilear, being Chief Engraver and note designer, was excoriated. Then the heat was turned up on Casilear from inside the Treasury Department. The New York Times reported on May 10, 1885: When, in 1881, Mr. Casilear, the late chief engraver of the Bureau of Engraving and Printing, preferred a claim against the department for the use of certain patented devices employed in the preparation of the Government notes, Mr. Graves made a report on that subject severely criticizing the inartistic results of the employment of designs for which Mr. Casilear asked payment. Mr. Graves was Edward O. Graves, a long-term employee, auditor and trouble-shooter in the Treasury Department. Graves went on to become Assistant Treasurer in 1883. One bit of fallout that appears to have resulted from Graves? 1881 report was that patent dates no longer were incorporated into new currency designs made thereafter. For example, none appeared on the Series of 1882 Gold Certificates even though Casilear had designed them. However, the patent dates on existing designs were left alone, such as the Series of 1880 Legal Tender Notes and Silver Certificates. When Democrat Grover Cleveland?who had run on a platform of government reform?took office for his first term on March 4, 1885, he wasted no time in appointing Daniel Manning as his Secretary of the Treasury on March 8th. Manning also was a reformer and assumed office wary of the BEP. On April 16, he replaced Casilear as Chief Engraver with John A. O?Neil, a picture engraver and former Mayor of Hoboken, New Jersey ?for the good of the service? (New York Times, Apr 18, 1885). Next, Manning appointed Conrad N. Jordan as U. S. Treasurer who began his term on May 1 (New York Times, Apr 23, 1885). Jordan had drawn up plans to clean up the Treasury Department on behalf of the Cleveland presidential campaign. Jordan?s appointment was followed on May 9th by the appointment of Edward O. Graves to Chief of the Bureau of Engraving and Printing (New York Times, May 10, 1885). Casilear, although not fired, found himself sidelined to virtual insignificance under the yoke of this Democratic team. One minor but significant manifestation of this is the fact that his November 24, 1868 patent date was removed from all currency plates that were made bearing Jordan?s signature. This action was particularly noticeable in the case of the Series of 1875 Legal Tender Certificates of Deposit that came in $5,000 and $10,000 denominations. Previously, the serial number panels were incorporated into the black intaglio face design and Casilear?s patent date appeared in fine letters under both of them. The panels were incorporated into the tint and his dates removed from the Rosecrans-Jordan and younger permutations. The cleansing of Casilear?s patent date from the plates made from 1885 forward marked the end of Figure 10. Before and after serial number panels from $500 1880 LTs, where Casilear?s patent date was removed beginning with the use of Treasurer Jordan?s signatures in 1885. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 162 the use of patent dates on U. S. currency. Viability The use of patent dates on the notes was a peculiar practice. They acknowledged that a patent holder was being recognized and compensated, but the particular patents listed on Table 1 are but a fraction of the patented processes and machines that were employed to produce the notes, so the question becomes why these? The selection process for such special treatment appears to have been rather arbitrary. In reality, the presence of the patent dates cluttered the designs. They had nothing to do with anything associated with the legal authority for the issues or the monetization of the notes. They certainly meant nothing to the note holder. If even noticed, there was nothing to indicate what the patent date stood for. It would take currency-collecting wonks almost a century and a half to figure them out! Bob McCabe (2016) compiled a 21-page appendix listing in fine print all of the U. S. patents pertaining to banknote and securities printing that he could find so there was no shortage of them. Reed (2008) points out that the bank note companies occasionally incorporated patent dates along with the name of the patent holder into the designs of obsolete notes. This practice served to advertise that something special protected the notes so that other note issuers should pay attention and buy whatever it was. The use of patent dates on early U. S. currency was a carryover of this tradition. As for George W. Casilear, when Republican Benjamin Harrison took office in 1889 after Cleveland?s first term, the top agency seats went to Republicans; specifically, William Windom as Secretary of the Treasury and William Meredith as Chief of the Bureau of Engraving and Printing. Casilear was rehabilitated and elevated to Superintendent of the Engraving Division. However, his patent dates did not reappear on forthcoming plates. Then Cleveland won a second term in 1893 and Democrats were back. Casilear, 68 at the time, retired from the Bureau October 30, 1893 (Hessler, 1993, p. 80). Acknowledgments The detail photos from issued notes are from the Heritage Auction Archives. Those from proofs are from the National Numismatic Collection, Smithsonian Institution. McCabe (2016, p. 105-106) unraveled the chemistry and convoluted transfer of ownership rights and legal intrigue that attended the development and use of the Matthews green tint ink. Sources and References Cited Cannon, H. W., July 16, 1885, Letter from the Comptroller of the Currency to BEP Chief E. O. Graves requesting information about $10 Series of 1873 Circulating Notes found in the vault of the Issue Division; in, Bureau of Engraving and Printing, Correspondence to and from the Bureau of Engraving and Printing: Record Group 318, U. S. National Archives, College Park, MD. Casilear, George W., Nov 24, 1868, Method of preventing the alteration of numbers on bonds, &c.: U. S. Patent Office, Patent number 84,341. Eaton, Asahel K., Apr 28, 1863, Improvement in ink for printing bank-notes, &c.: U. S. Patent Office, Patent Number 38,298. Hawkins, George W., 1869, Testimony of a plate printer for the National Bank Note Company before the Joint Select Committee on Retrenchment [pertaining to the production of United States Securities]; in, Reports of the Committees of the Senate of the United States for the Third Session Fortieth Congress, report 273, U. S. Government Printing Office, 436 p. Hessler, Gene, 1993, The Engraver?s Line: BNR Press, Port Clinton, OH, 437 p. Knox, John J., 1875, Annual report of the Comptroller of the Currency to the First Session of the Forty-Fourth Congress of the United States: U. S. Government Printing Office, Washington, DC, 776 p. MacDonough, James, Apr 23, 1860, Style of engraving bank-notes, &c.: U. S. Patent Office, Patent Number 30,488. Matthews, George, Jun 30, 1857, Improvement in printing-inks: U. S. Patent Office, Patent Number 30,488. McCabe, Bob, 2016, Counterfeiting and technology, a history of the long struggle between paper-money counterfeiters and security printing: Whitman Publishing, Atlanta, GA, 480 p. New York Times, May 10, 1885, Promotion for merit; a proof of sincerity in civil service reform; the appointment of Edward O. Graves as Chief of the Bureau of Engraving and Printing. New York Times, Apr 18, 1885, The new chief engraver; Mr. Casilear?s removal considered a good thing. New York Times, Apr 23, 1885, A new Treasurer chosen; Mr. Wyman resigns; and Mr. Jordan is appointed. Reed, Fred L., Oct 2008, Feds look to second anti-photography ink, Shades of the Blue & Grey, part 40: Bank Note Reporter, v. 36, no. 10, p. 38, 40, 42, 44, 48, 50, 52, 54. United States Statutes, March 3, 1875, An act making appropriations for sundry civil expenses of the government for the fiscal year ending June 30, 1876, and for other purposes: Government Printing Office, Washington, DC. Willcox, James M., July 24, 1860, Safety paper: U. S. Patent Office, Patent Number 56,650. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 163 Lyn Knight Currency Auct ions If you are buying notes... You?ll find a spectacular selection of rare and unusual currency offered for sale in each and every auction presented by Lyn Knight Currency Auctions. Our auctions are conducted throughout the year on a quarterly basis and each auction is supported by a beautiful ?grand format? catalog, featuring lavish descriptions and high quality photography of the lots. Annual Catalog Subscription (4 catalogs) $50 Call today to order your subscription! 800-243-5211 If you are selling notes... Lyn Knight Currency Auctions has handled virtually every great United States currency rarity. We can sell all of your notes! Colonial Currency... Obsolete Currency... Fractional Currency... Encased Postage... Confederate Currency... United States Large and Small Size Currency... National Bank Notes... Error Notes... Military Payment Certificates (MPC)... as well as Canadian Bank Notes and scarce Foreign Bank Notes. We offer: Great Commission Rates Cash Advances Expert Cataloging Beautiful Catalogs Call or send your notes today! If your collection warrants, we will be happy to travel to your location and review your notes. 800-243-5211 Mail notes to: Lyn Knight Currency Auctions P.O. Box 7364, Overland Park, KS 66207-0364 We strongly recommend that you send your material via USPS Registered Mail insured for its full value. Prior to mailing material, please make a complete listing, including photocopies of the note(s), for your records. We will acknowledge receipt of your material upon its arrival. If you have a question about currency, call Lyn Knight. He looks forward to assisting you. 800-243-5211 - 913-338-3779 - Fax 913-338-4754 Email: lyn@lynknight.com - support@lynknight.c om Whether you?re buying or selling, visit our website: www.lynknight.com Fr. 379a $1,000 1890 T.N. Grand Watermelon Sold for $1,092,500 Fr. 183c $500 1863 L.T. Sold for $621,000 Fr. 328 $50 1880 S.C. Sold for $287,500 Lyn Knight Currency Auctions Deal with the Leading Auction Company in United States Currency Alternating Plate Serial Font Sizes on Series 2013 $20 Federal Reserve Notes by Joe Farrenkopf The five Series 2013 $20 notes pictured in Image 1 have consecutive face plate serials: 45, 46, 47, 48 and 49. Image 1: Series 2013 $20 notes printed at Washington, DC, bearing face plate serials 45, 46, 47, 48 and 49 An up-close examination of those face plate serials, depicted in Image 2, reveals differing font sizes of the digits, namely that 45, 47 and 49 are small while 46 and 48 are large. Was the BEP engraver who etched those digits into the production plates unable to make up his or her mind about the digit size? ?Small . . . wait, large . . . no, small . . . no, large . . . no, small!? No, the difference in the digit size wasn?t a result of indecision at the BEP. Indeed, the difference was deliberate. Image 2: Close-up of Series 2013 $20 notes printed at Washington, DC, with face plate serials 45, 46, 47, 48 and 49. The variation in face plate serial font size found on $20 notes originated during Series 2006 when the Bureau of Engraving and Printing began to print $1 notes and $20 notes on its newly installed Super Orlof Intaglio, or SOI, presses at the Eastern Currency Facility in Washington, DC. One of the ways that the SOI press differs from the older I-10 press is that the SOI press uses three plates in rotation while the I-10 press uses four plates. To distinguish $20 notes printed on the SOI press from $20 notes printed on the I-10 press, the BEP increased substantially the font size of the face plate serial on SOI plates. That difference can be seen in Images 3 and 4, which depict two Series 2006 $20 notes; the smaller face plate serial font size on the note with serial IK38713038B indicates that the note was printed on the older I-10 press whereas the larger face plate serial font size on the note with serial IK01191123* indicates that the note was printed on the new SOI press. It?s not clear why the BEP did not do likewise with $1 plates prepared for use on the SOI press; the face plate serial font size remained unchanged on $1 notes printed on the SOI press, as seen in Images 5 and 6. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 165 Image 3: Series 2006 $20 notes printed at Washington, DC, on the I-10 press (top) and the SOI press (bottom). Image 4: Close-up of Series 2006 $20 notes printed at Washington, DC, bearing face plate serials 286 and 381. Face plate 286 was on the I-10 press while 381 was on the SOI press. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 166 Image 5: Series 2006 $1 notes printed at Washington, DC, on the I-10 press (top) and the SOI press (bottom). Image 6: Close-up of Series 2006 $1 notes printed at Washington, DC, bearing face plate serials 147 and 122. The font size of both plate serials is the same even though 147 was on the I-10 press while 122 was on the SOI press. The earliest print run where SOI $20s are found is in Series 2006 IL-D run 7, serialed in September 2008. From that point forward, all remaining Series 2006 $20 production at Washington, DC, was done using the SOI press. The SOI press continued to be used for all $20 production at Washington, DC, through the entirety of Series 2009. Moving into Series 2013, $20 production at Washington, DC, initially continued on the SOI press but soon thereafter moved back to the old I-10 press, excepting for a single instance midway into the series when some $20s were again printed on the SOI press. That instance is the source of the large face plate serials 46 and 48 seen on the notes in Images 1 and 2. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 167 Despite being consecutive, face plates 45, 46, 47, 48 and 49 were on the press at very different times, as shown in Table 1. Table 1: Usage dates of Series 2013 (Washington, DC) $20 face plates Plate serials typically increase over time within a given series because plates are prepared and used generally in sequential order. In modern series, low plate serials are typically found early in the series while high plate serials are typically found late in the series. In the specific case of Series 2013 $20s printed at Washington, DC, face plate serials 1 through 25 are large font (see Image 7), meaning those plates had been prepared for use on the SOI press. The next face plate serial to be found in the early production of the series is 31, but now with the small font (see Image 8), reflecting the transition of $20 production back to the I-10 press. Image 7: Series 2013 $20 notes printed on the SOI press at Washington, DC, bearing face plate serials 1 and 25. Plate Serial Press Type Date Installed Date Removed 45 I-10 Jan 15 2014 Apr 10 2014 46 SOI Jun 8 2016 Jun 14 2016 47 I-10 Jan 15 2014 Apr 10 2014 48 SOI Jun 14 2016 Jul 1 2016 49 I-10 Jan 15 2014 Apr 1 2014 _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 168 Image 8: Series 2013 $20 note printed on the I-10 press at Washington, DC, bearing face plate serial 31. Face plate serials 32 and up are likewise of small font, with the exceptions of 46 and 48. That anomaly raises a question: if face plates 46 and 48 were prepared at a time when $20 production had moved from the SOI press back to the I-10 press for the foreseeable future ? meaning all $20 face plates were to be engraved with the small plate number font that corresponded with the I-10 press ? how could the BEP have known in 2013 that more than two years into the future, the SOI press would be used one more time for $20 production and consequently face plate serials 46 and 48 would need to be engraved with the large font that corresponded with the SOI press? The answer is, they couldn?t. Up until September 2013, the two I-10 press lines at Washington, DC, had been dedicated to $100 note production while $1, $5 and $20 note production alternated on its two SOI press lines. Then after September 2013, $100 note production at Washington, DC, ceased entirely, and all $100 note production moved to the Western Currency Facility in Fort Worth, Texas. The two I-10 press lines at Washington, DC, were then available to print other denominations and became dedicated to $20 note production. $1 and $5 note production, meanwhile, continued to alternate on the two SOI press lines at Washington, DC.1 Now that $20s were being printed only on the I-10 presses again, face plate serials of $20 notes reverted back to the small font that designates I-10 press production. This change occurred shortly after the series transition from 2009 to 2013. As a result, the earliest notes of Series 12013 $20s printed at Washington, DC, exhibit the 1 It is worth noting that the alternating of $1s and $5s on the two SOI presses eventually ended; one SOI press line became dedicated to $1 note production while the second SOI press line became dedicated to $5 note production. large face plate serial font size while most of the remainder of the series exhibits the small face plate serial font size. BEP plate change records show that face plates 31 through 45 plus 47 and 49 were used on the I-10 presses between September 2013 and April 2014, but face plates 46 and 48 do not appear at all in the BEP plate change records from that time period. As $20 production continued over the next two years, the face plate serials increased in magnitude, reaching 220 by early June 2016. But the month before, a problem of some sort had rendered one of the I-10 face presses inoperable. In order to maintain $20 production while the unusable I-10 face press was out of service, the BEP temporarily moved some of its $20 production to the SOI press that had now been dedicated to $1 production. This temporary measure lasted roughly one month, and once the I-10 face press was back in operation, $20 production on the SOI press ended. What is curious about the short period in 2016 when $20s were printed on the SOI press is that the BEP did not assign face plate serials that were in contemporary sequence with those of the I-10 plates. That is, instead of using face plate serials in the vicinity of where the I-10 plates had reached ? i.e., in the 200s ? the BEP used very low plate serials that were closer in magnitude to the last time the SOI press had been used to print $20 notes over two years earlier: 26, 27, 46 and 48. This is notable because back in 2008 when the SOI presses were first installed, $20 face plate serials on Series 2006 notes had likewise reached the 200s on the I-10 plates, and the first face _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 169 plate serials of SOI plates were in the general neighborhood ? 240s and 250s ? of the face plate serials of the I-10 plates. Why didn?t the BEP do likewise with Series 2013? The likely reason that the BEP reverted back to lower magnitude face plate serials in 2016 is because SOI face plates with serials 26 and 27 already existed, having been manufactured back in 2013 but never used. Since those plates were already in the BEP?s inventory, only one additional SOI face plate was needed for the three-plate rotation of the SOI press. The BEP may have preferred that the third SOI face plate have a plate serial closer in magnitude to the existing two SOI plates rather than a plate serial in the 200s. If true, then why 46 and 48 rather than 28, 29 or 30? A Freedom of Information Act request to the BEP yielded no records from 2013 and 2014 that document the preparation of face plates with serials 28, 29 and 30, nor of face plates with serials 46 and 48. That the BEP didn?t manufacture in 2016 new SOI face plates with the unused plate serials 28, 29 or 30, together with the observation that 31 is the lowest I-10 face plate, suggests that 28, 29 and 30 could not be used in 2016 for some reason. Perhaps those three plate serials had been reserved for the SOI press back in 2013 and that although never used, some internal reason now precluded their use on an SOI plate in 2016. By contrast, plate serials 46 and 48 would have been reserved for the I-10 press back in 2013, and while they, too, were not used then, it may be that they could be used in 2016 on an SOI plate simply because the press type was different, i.e., not I-10. Whatever the reason, manufacturing SOI face plates in 2016 with face plate serials 46 and 48 resulted in creating the illusion of alternating plate serial font sizes on Series 2013 $20 notes bearing face plate serials 45-49. One other instance exists in Series 2013 of adjacent face plate serials with differing font sizes, this time on notes produced at Fort Worth. Prior to December 2015, the two SOI press lines at Fort Worth had been used almost exclusively for $1 note production. Then in December 2015 and lasting for about three months, one of the SOI press lines was used for the first time in that facility?s history to produce $20 notes, probably to accommodate $2 note production on one of the I-10 press lines that previously had been used for $20 note production. Unlike the Washington, DC, facility, the face plate serials of Fort Worth SOI $20 notes remained roughly in sequence with those of the I-10 plates. In this case, Fort Worth did not have any old SOI $20 plates stored in its inventory and so had no reason to assign unused face plate serials of a lower magnitude for the SOI plates that needed to be manufactured. Thus, the face plate serials of the Fort Worth SOI $20 plates were of the same magnitude as the face plates serials of the Fort Worth I-10 $20 plates. Face plate serials 109, 111 and 112 exhibit the large font size of SOI notes. Meanwhile, face plate serial 108, which is small font, was on the I-10 press several months later. As a result, one can find Series 2013 $20 notes from Fort Worth with adjacent face plate serials and having differing font sizes, namely 108 and 109, as shown in Images 9 and 10. Image 9: Series 2013 $20 notes printed at Fort Worth bearing face plate serials 108 and 109. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 170 Image 10: Close-up of Series 2013 $20 notes printed at Fort Worth bearing face plate serials 108 and 109. Looking at Series 2017, aside from what may have been a brief three-day testing period on the SOI press at Washington, DC, in July 2018, all $20 production at that facility was on the I-10 press. Consequently, one expects that the entirety of Series 2017 Washington, DC, $20 notes will bear only small font face plate serials. But at Fort Worth, $20 production was split between the I-10 and SOI presses, and four more instances of adjacent small/large face plates should be able to be found once those notes reach circulation: 22/23 (large/small); 26/27 (small/large); 56/57 (small/large); and 59/60 (large/small). Finally, in the new Series 2017A that recently began production, the BEP changed its existing practice of not using the same face plate serial on both press types. Recent BEP plate change records show instead that $20 production at Washington, DC, has been split between the I-10 and SOI presses and that each press type has been assigned its own set of face plate serials starting at 1. That is, there is a face plate 1 for the I-10 press as well as a face plate 1 for the SOI press; a face plate 2 for the I-10 press as well as a face plate 2 for the SOI press; and so on. Presumably the plate serial font sizes are still small and large, respectively, and if true, it will be possible to find a Series 2017A Washington, DC, $20 note with a small face plate 1 (I-10) as well as with a large face plate 1 (SOI). Time will tell once that series begins to enter circulation. Eventually all of the old I-10 presses will be replaced by SOI presses, and at that point, the alternating font size of $20 face plates will cease. Sources: Orzano, Michele. ?New presses printing some $1, $20 notes.? Coin World, June 22 2009, Vol. 50 Issue 2567, p. 4. IPMS 2020 Postponed Indefinitely We have determined that we are forced to cancel the 44th annual IPMS show scheduled for June 10-13 in Kansas City, Missouri at the Sheraton Crown Center Hotel and Convention Center. We are providing written notification to the hotel today, April 16th, so our room block will be cancelled, and cancellations of rooms can begin. The Sheraton has been working well with us during this tricky time, but they understand that no one much wants to get on a flight or be subject to quarantine before leaving or arrival. Let's stay close to home and remain safe and healthy. I have not given up on the possibility for holding an event later in 2020, but we are working on a 2021 date in Las Vegas within our early summer time frame. We are saddened by the cancellation, but we have a renewal spirit for 2021 IMPS. Lyn Knight Doug Davis Joel Shafer _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 171 L otel & vations: Central States Numismatic Society 81st?Anniversary Convention Schaumburg, I Schaumburg Renaissance H Convention Center April 21-24, 2021 Early?Birds:?April?21???11am?3pm;?$125?Registration? Fee?Public?Hours:?Wednesday?Saturday? No Pesky Sales Tax in Illinois Hotel Reser Schaumburg Renaissance Hotel - 1551 North Thoreau Drive ? Call (847) 303-4100 Ask for the ?Central States Numismatic Society? Convention Rate. Problems booking? - Call Convention Chairman Kevin Foley at (414) 807-0116 Free Hotel Guest and Visitor Parking. Visit our website: www.centralstatesnumismaticsociety.org? Bourse Information: Patricia Foley foleylawoffice@gmail.com ? Numismatic Educational Forum ? Educational Exhibits ? 300 Booth Bourse Area ? Heritage Coin Signature Sale ? Heritage Currency Signature Sale ? Educational Programs ? Club and Society Meetings ? Free Hotel Guest and Visitor Parking ? $5?Daily?Registraton?Fee?/?$10???4?Day?Pass Wednesday???Thursday???Friday???Saturday Now Including: The Chicago Coin Expo ? a foreign and ancient specialty event Also including: The National Currency Convention ? a rare currency specialty event sponsored by the PCDA An Alternate Look at the ?Giori? Jefferson Test Notes by Roland Rollins Most paper currency collectors are at least somewhat familiar with the Giori test notes made with BEP plates in Geneva N. Y. A full 32 note sheet came to light at the Kagins 308th sale auction held in 1976. The notes have Lincoln, Washington and Grant from left to right and are sourced from the ?Pigman Hoard?, named after Edgar L. Pigman, the lead for the American Can Company, the sub-contractor American Bank Note Company assigned to assemble the Giori press to be tested for the Bureau of Engraving and Printing. Most dealers call this the Giori Washington test note or a Pigman Hoard Giori test note. All test notes came from single sided sheets, thus uniface only test notes. The Jefferson Center notes presumably produced in Germany are generally called Giori Jefferson test notes. According to Hessler2, sometime after 1950, the BEP sent a plate to Germany to have test pieces printed. The actual date has been determined and disclosed later in this article. Coins3 reported a West German collector Wolfgang Koenig had purchased a sample of this type in 1984. This would then make these the first set on test notes produced (but 2nd reported), with the 2nd being the Washington center ?Pigman Hoard? produced at Geneva, New York in 1976, prior to moving the Magna press to Washington D.C. ABNC-002a 1 It is common practice when a large security press is sold to assemble the press at the factory, run (pull) trial sheets and make adjustments, and disassemble the press. The press is shipped, reassembled, and more trial sheets may be run to make adjustments and insure there is no issue with the assembly. By running the test prior to shipment, the press maker can assure the buyer the press is working as ordered. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 173 The front of the two-sided sheet presumably produced in Germany is shown here: ABNC-002b 1 Notice only the center third of these notes are the Jefferson center test notes. The others are three different ?Canada? test notes. The Canada plates were produced by British American Bank Note Company. There is more information to provide. 1. One of these ABNC-002 sheets sold at auction on 11/4/2014 by Archives International 4 has notation in pencil and pen that states "BA | BEP | HUCK 1970 / Different impression mats around the cylinders ? 171282 backing 171254?. We don?t know who added this, but BA = BABN? BEP=BEP? HUCK = Huck Multicolor press - a nine-color, web-fed, intaglio press used by the BEP from 1968 to 1976? 1970 = 1970? 2. It is known that BABNCo outsourced some of their work to Germany to the security printing web-fed press maker Goebel GmbH. A stamp sample, circa about 1936, is shown. It is called a dummy or Cinderella by philatelists. It was printed by Goebel in Germany5, not BABNCo. British American finally purchased a Goebel press in the 1960?s. 3. Goebel is located in Darmstadt, Germany. Giori is from Lausanne, Switzerland, but in 1952, Koenig and Bauer of Wurzburg West Germany purchased a 50% stake in Giori and commissioned Giori presses some time thereafter. 4. The Jefferson center sheet could be web press or web fed. Only two-sided Jefferson notes (reverse always inverted) have been observed. Web press systems print both sides simultaneously. Giori prints single side sheets. A second past must be made to print the reverse side. Both Goebel and Huck are web fed presses. 5. Coin World reported in 1963 ?Low bidder for the four new presses at $307,000 each Bureau Director H J Holtzclaw announced was the Miehle Co of Chicago representing the Swiss Organisation Giori. The presses will be constructed by Koenig and Bauer of Wurzburg West Germany.6? _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 174 Nearly universally, the test notes with the young lady?s bust are attributed to Goebel. Many of these also have BABN head office building and plant in Ottawa, Canada on the reverse. Here are examples included on the Giori Jefferson sheet: GOE-111 7 GOE-103 7 GOE-122b 7 Of all the trial run sheets available in the collector?s market, a huge preponderance of these are for Goebel press tests. Trail sheets and thus test notes on Goebel presses include Giesecke & Devrient, Bank of Norway8, Penzjegynyomda (Hungary Banknote Printing Company), F?brica Nacional de Moneda y Timbre (Royal Spanish Mint), National Bank of Denmark, probably Bundesdruckerei (German Printing Works) and British American Bank Note Company. Here is an example of a GD test note, printed by Goebel. This is a partially printed samples of notes printed for Algeria by GD. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 175 There are many more varieties of the Jefferson center test notes than the Washington test notes. Possible differences: ? 4 COLORS AVAILABLE ? grey/black, weak green, mud brown, purple brown (maroon) (Hessler lists black as well, with 9 front and back color combinations2) ? 7 SERIAL NUMBERS ? none, front normal, front inverted, back normal, back inverted, multiple same number, multiple different numbers. Hessler states the recorded serial numbers range from A00099XXA to 99998882XXA2. ? 2 SERIAL NUMBER COLORS ? black or red ? 2 WATERMARKS ? ?Papierfabriklouisent? or none. (Note: in German papier = paper) The watermarked paper was thus produced by Louisenthal, the wholly owned paper mill subsidiary of Giesecke & Devrient, founded just south of Munich in 1964. Jefferson center test notes ? Who, Where & When? ? A possible first set of Jefferson test notes (without watermarks) could have been pulled prior to the BEP receiving their first Giori press in 1957. With additional presses ordered in 1963 and Louisenthal watermarked paper only available from 1964 forward, it would seem the test note sheets with watermarks were produced about 1964 to 1968. BABN also ordered their Goebel BRNST-500 press to fulfill their contract with Canada Post starting in 1968. So, the watermarked test sheets would be pulled on a Giori press for the BEP at Koenig and Bauer, Wurzburg, West Germany or a Goebel press for BABN at Goebel, Darmstadt, West Germany. ? If the notation on the test note offered by AAI in 2014 is correct, another set of test notes were produced in 1970. The BEP could have pulled the test notes, probably without watermarked paper. There was no purpose to pull test notes on a Giori press 6 years after receiving the 2nd order of presses. A web fed test of the Huck Multicolor press the BEP was already using for stamp production WOULD have some use, since the BEP was actively pursuing this cost saving option. BABN was an active stamp and paper money maker, but Ken Sargent, once President of BA International states Huck ?would not suit our purposes.? 8 Thus this extra set was not produced by BABN. The 2nd set of test notes would explain the preponderance of different varieties of the Jefferson center version of the test note. The sheet mentioned with the notation adds credence to the BEP location. If the sheet was from the earlier run from Germany, why would such notations not be in German? These notations with technical printing notes could be from a BEP run. New discoveries ? I have cataloged 5 sales of the two-sided Washington center note, all in 20189. One of these was the same note sold twice. Unlike the Jefferson two sided notes, the front & back of the Washington center notes are oriented correctly; with no serial number (Jefferson reverses again are inverted). All 4 of the two-sided Washington notes recorded are black front, 3 with green reverse and 1 with black reverse. ? 2 one-sided Jefferson notes were sold on eBay in 2018, both with a black front and red serial numbers - A99934629A and A9998836A10. ? A set of duplicate serial numbers have been observed on the standard Jefferson two sided notes, and are offered for sale on eBay with identical black A99988327A serial numbers11. Another set of duplicate serial numbers (with the same A99988327A serial number) was sold on 9/3/1812. This set had green in reverses and one with no watermark, while the other had the Fabrick Louisental watermark. Further proof there was two separate printings? ? A little noticed 8 row sheet of Jefferson reverses was sold in April 200613. These are the Jefferson reverse since they don?t have the extra rectangle or extra three partial squares present on the Washington center type. A reverse only Jefferson reverse was first sold in 200114, also by Heritage. Both the sheet & individual note have green ink & no watermarks. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 176 Paper Money * May/June 2020 * Whole No. 327 Implications: ? The populations of the Jefferson Giori notes are recorded as low - less than 1001. The observed sales of the BABN notes are fairly plentiful. Either more Jefferson Giori notes are lost or being hoarded or more likely the BABN notes were also produced on other sheets without a center row of Jefferson notes present. ? The BABN notes are also available as uniface. Hessler also indicated versions of Jefferson centers replaced with Washington centers. Is it possible many of these Washington replaced notes come from one side only sheets, now cut up? If so, these sheets must have no watermark. Hessler indicated the population of these Washington notes were ?at least 100?1. Is it also possible some of the front only notes attributed to the Pigman Hoard are actually these notes? ? From a catalog standpoint, alternate printers and pull dates must be noted. ? Since any trial sheets run at the factory or the customer?s site should be identical, sample?s now available for sale; decades later cannot be attributed to either. ? With the configuration of the entire sheet, the population of the two-sided Washington and one-sided Jefferson notes discovered must be at least five or some multiple of five. ? There is too much lost and unconfirmed information at this time to clearly state all ?Giori? notes are Giori or all produced in Germany. There is a need for lost facts to come to light to confirm or correct the conclusions made in this article. I hope a reader comes forth who has knowledge they did not know was important to this discussion. References 1 Hessler, Gene, U.S. Essay, Proof, and Specimen Notes, 2nd Edition, 2004 2 Coins magazine, U.S. Numisnews section, September 1984 3 Rollins, Roland, North American Printers Promotional Sheets & Test Notes, 2020 4 Archives International XXI Wall Street Auction, November 2014 5 Sparks Auctions #29, January 2019 6 Coin World, page 1, August 16, 1963. 7 Rollins, Roland, eBook, The Catalog of Printers? Test Notes, 14th Edition, 2019 8 Sargent, Ken with Beaudet, Leopold, ?The Goebel Press Era of Canadian Stamps? from British North America Philatelic Society web site, 2010. 9 Kagins auction, March 2018, eBay February 7, 2018, Item ID: 192387594872, Heritage auction September 18, 2018, eBay June 26, 2018, item ID 192511741350, & Heritage auction #3509 April/May 2010 (PCGS #59015351) 10 eBay Auction, July 8, 2018, Item ID: 202355632609 and eBay auction, December 22, 2018, Item ID: 332963575445 11 eBay Auction, started September 23, 2014 & still active, Item ID: 121444351864. 12 eBay Auction, September 3, 2018, Item ID: 302852042291 13Heritage auction #406, April 2006. 14Heritage auction #31061, June 15, 2001. 177 Voting now open for literary awards and ODB Registry Sets Go to the SPMC Website and vote for your favorite articles, columns and books of 2019. Vote also for your favorite Obsolete Database Registry Sets. www.spmc.org ? Treasury seal varieties when sealing was carried out at the Treasurer?s office between 1885 and 1910 Introduction and Purpose The sealing of Treasury currency was reassigned from the Bureau of Engraving and Printing to the Treasurer?s office in 1885 and didn?t return to the Bureau until 1910. The purpose of this article is to illustrate the numerous seals that were employed on Treasury currency during the period when sealing was carried out in the Treasurer?s office and explain the changing patterns of use that occurred during that era. The explanation for why sealing was transferred to the Treasurer?s office in 1885 and then how it was returned to the BEP is presented in detail in Huntoon and Murray (2019). Seal Varieties During the period when sealing was being done at the Treasurer?s office, which took place between 1885 and 1910, a total of eight different seals were employed if we define a variety as consisting of a unique combination of size, shape and color. If we look only at size and shape, there were five because some seals were printed in different colors. This period exhibits the richest variety of seals during the large note era and those seals certainly add dramatic flair to the notes. The Paper Column by Peter Huntoon Doug Murray Figure 1. Inside the crowded Treasurer?s serial numbering press room in the Treasury Building sometime after 1900. The detail on the right shows one of the rotary presses that applied the seals. The presses were operated by a male pressman with the aid of women assistant. Left photo from Gurney and Gurney (1977), detail at right from a vintage post card. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 179 There were two protocols that dictated the use of seals while the Treasurer?s office did the sealing. The protocols changed midway through the Rosecrans-Hyatt era. Each class of currency was assigned a specific seal variety during the earlier period. A common seal was adopted for all classes during the latter period except for a few exceptions that came about as a result of series changes. Adding significantly to the complexity of this rather straightforward two-part system were two pivotal events that occurred during the latter period. First, the color of the common seal in use during the Rosecrans-Huston era was changed from red to brown and next an entirely new smaller red seal with scallops was adopted during the Rosecrans-Nebeker era. The new scalloped red seal was the same size and similar in design to the seal used on all large size national bank notes beginning with the Series of 1875 except for a distinctive larger seal used on Series of 1882 brown backs. See Figure 2. The scalloped red seal became the standard on all large size Treasury currency except for the Series of 1896 educational silver certificates. Its color was changed to blue for the Series of 1899 silver certificates and gold for the Series of 1906 and 1907 gold certificates after Treasury officials recognized that using different color seals for the different classes could aid sorting during the redemption process. One wrinkle developed after the scalloped seal came into use. A smaller seal with saw teeth was used exclusively on the Series of 1896 silver certificates. This change appears to have been made for esthetic considerations because the crowded design of those notes did not allow sufficient white space to display the standard larger scalloped seal. All of this information is presented visually on Table 1. Table 1 is organized so that time progresses from left to right using the progression of the Treasury signature combinations to mark the different eras. When you find two adjacent columns with the same signature combination, understand that a change occurred during their tenure with the old variety to the left and new to the right. We have included columns on the left and right ends that contain data for the BEP seals that immediately preceded and followed the Treasurer sealing era. The BEP assigned dedicated seals to the different classes beforehand thus explaining why the Treasurer did the same thing early on. However, both entities used different seals. The BEP used exactly the same seals as the Treasurer when sealing was reassigned to the BEP in 1910. One curiosity illustrated on Table 1 is that the BEP was using a large brown seal with spikes for legal tender notes when sealing moved to the Treasurer?s office. After a hiatus, the Treasurer adopted this same seal for use on all classes during the latter part of the Rosecrans-Huston era and into the early part of the Rosecrans-Nebeker era. We are illustrating all the seal varieties listed on Table 1. We have numbered them 1 to 11 as per the key on Table 2. Anomalies There are two glaring anomalies on Table 1; specifically, Fr.290 and 1192a, which carry the wrong seals for their class at the time they were made. Fr.290 consists of $10 Series of 1880 silver certificates bearing recently obsolete Bruce-Wyman signatures that were printed during fiscal year 1886 (July 1, 1885-June 30, 1886). They carry a large round red seal that appears to have been dedicated to Series of 1880 legal tender notes during that era. When $20 Series of 1880 silver certificates (Fr.312), also with obsolete Bruce-Wyman signatures, came along during fiscal year 1887, they were made with a small round red seal. The small round read seal was consistent with the seal used on the lower denomination Series of 1886 silver certificates that were in concurrent production then. It therefore appears that the small round red seal was dedicated to silver certificate production during the latter part of the Bruce-Wyman era, so Fr.290 should have had one. Fr.290 was produced during a transition period so although it appears to carry the wrong seal, it is possible the decision to dedicate the small round red seals to silver certificates may not have been made yet. Regardless of origin, the seals on Fr.290 represent a distinct oddity. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 180 Table 1. Treasury seals used on U. S. currency immediately before, immediately after and during the period when the seals were applied at the Treasury Department between July 1885 and July 1910. The numbers in the entries are Friedberg catalog numbers. BEP Treasury BEP Class Series Den B-W B-W R-J R-Hy R-Hy R-Hu R-Hu R-N R-N T-M T-R B-R L-R L-T V-T V-M V-M LTN 1880 1 30 30a 31 32 33 34 35 LTN 1880 2 52 52a 52b 53 54 55 56 LTN 1880 5 72 73 74 75 76 77 78 79 80 81 82 LTN 1880 10 102 103 104 105 106 107 108 109 110 111 112 113 LTN 1880 20 132 133 134 135 136 137 138 139 140 141 142 143 144 145 LTN 1880 50 156 157 158 159 160 161 162 163 164 LTN 1880 100 173 174 175 176 177 178 179 180 181 LTN 1880 500 185f 185g 185h 185i 185j 185k 185l 185m LTN 1880 1000 187b 187c 187d 187e 187f 187g 187h 187j 187k LTN 1901 10 114 115 116 117 117 LTN 1907 5 83 84 84 SC 1880 10 289 290 Fr.290 has wrong seal for class SC 1880 20 311 312 SC 1880 50 327 328 329 SC 1880 100 340 341 342 SC 1880 500 345d SC 1880 1000 346d SC 1886 1 215 216 217 218 219 220 221 SC 1886 2 240 241 242 243 244 245 SC 1886 5 259 260 261 262 263 264 265 SC 1886 10 291 292 293 294 295 296 297 SC 1886 20 313 314 315 316 SC 1891 1 222 223 SC 1891 2 245 246 SC 1891 5 266 267 SC 1891 10 298 299 300 301 SC 1891 20 317 318 319 320 SC 1891 50 330 331 332 333 334 SC 1891 100 343 344 SC 1891 1000 346e SC 1896 1 224 225 SC 1896 2 247 248 SC 1896 5 268 269 270 SC 1899 1 226,a 227 228 229 229,a SC 1899 2 249 250 251 252 252 SC 1899 5 271 272 273 274 274 SC 1908 10 302 303 GC 1882 20 1176 1177 GC 1882 50 1190 1191 1192 1193 1194 1195 1196 1196 GC 1882 50 1192a Fr.290 has wrong seal for class GC 1882 100 1203 1204 1205 1206 1207 1208 1209 1209 GC 1882 500 1215c 1215d 1216 GC 1882 1000 1218b 1218c 1218d 1218e 1218f 1218g GC 1882 5000 1221b 1221c 1221d 1221e No # 1221f 1221g GC 1882 10000 1223b 1223c 1223d 1223e No # 1223f No # GC 1905 20 1179 1180 GC 1906 20 1181 1182 1182 GC 1907 10 1167 1168 1168 GC 1907 1000 1219 1219a TN 1890 1 347 348 349 TN 1890 2 353 354 355 TN 1890 5 359 360 361 TN 1890 10 366 367 368 TN 1890 20 372 373 374 TN 1890 100 377 TN 1890 1000 379a 379b TN 1891 1 350 351 TN 1891 2 356 357 TN 1891 5 362 363 TN 1891 10 369 370 TN 1891 20 375 TN 1891 50 376 TN 1891 100 378 TN 1891 1000 379d 379c _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 181 The case of Fr. 1192a, a $50 Series of 1882 gold certificate with Rosecrans-Huston signatures, represents an especially strange occurrence. One example is known that defines the variety; specifically, the note bears the new red scalloped seal adopted during the latter part of the Rosecrans-Nebeker era, instead of a large brown spiked seal found on normal Fr.1192 notes. The note carries serial C128690, a number solidly within the Fr.1192 range. Furthermore, the seal is low and to the left of its position on much younger Fr.1193 and successive Series of 1882 $50 gold certificates. See Figure 14. Its serial number demonstrates that it was numbered during the latter part of the Rosecrans-Huston era despite the fact that the seal was not in use that early on any notes. The placement of the seal low and to the left of the normal position for the same seals on younger Series of 1882 $50 gold certificates reveals that the press setup was unique to it. At this point, the occurrence represents a true conundrum that defies a ready explanation. We simply have no viable explanation for its occurrence. Perspective The Treasury seals under consideration in this article were those used on Treasury currency that was current during the 1885 to 1910 period. Treasury currency consisted of legal tender notes, sliver certificates, gold certificates and Treasury notes. Treasury currency was the obligation of the U. S. Treasury. In contrast, there also was bank currency during the same period consisting of national bank notes that were the obligations of the banks, not the Treasury. The sealing of national currency remained with the Bureau of Engraving and Printing from the inception of that currency in 1863 until it went out of existence in 1935. The seals used on all large size bank currency had distinctively different designs than those on Treasury current currency. See Figure 2. Acknowledgment All the photos of notes are from the Heritage Auction archives (HA.com). Table 2. Key to seal colors and Treasury signature combinations on Table 1. First Seal Variety Use Seal Usage 1 large brown ? spikes 1880 dedicated to 1880 legal tenders through mid-B-W 2 large brown ? round with reeds 1880 dedicated to 1880 silver certificates through mid-B-W 3 brown ? wavey 1882 dedicated to 1882 gold certificates through mid-B-W 4 large red ? round 1885 dedicated to 1880 legal tenders from mid-B-W to mid-R-Hy 5 small red ? round 1886 dedicated to silver certificates R-J through mid-R-Hy 6 large red ? spikes 1888 adopted for all during R-Hy through mid-R-Hu - same as seal 1 except red 7 large brown ? spikes 1890 adopted for all during R-Hu through mid-R-N - same as seal 1 8 red - scallops 1891 adopted for all during R-N except 1896 & 1899 SC and 1906 & 1907 GC 9 small red ? saw teeth 1896 dedicated to 1896 silver certificates 10 blue - scallops 1899 dedicated to 1899 silver certificates - same as seal 8 except blue 11 gold - scallops 1906 dedicated to 1906 & 1907 gold certificates - same as seal 8 except gold Treasurer Register Period when Signature Combination was Current B-W Blanch K. Bruce A. U. Wyman Apr 1, 1883 - Apr 30, 1885 B-J Blanch K. Bruce Conrad N. Jordan May 1, 1885 - Jun 5, 1885 not used R-J William S. Rosecrans Conrad N. Jordan Jun 8,1885 ? May 23,1887 R-Hy William S. Rosecrans James W. Hyatt May 24, 1887 - May 10, 1889 R-Hu William S. Rosecrans J. N. Huston May 11, 1889 - Apr 21, 1891 R-N William S. Rosecrans Enos H. Nebeker Apr 25, 1891 - May 31, 1893 R-M William S. Rosecrans Daniel N. Morgan Jun 1, 1893 - Jun 19, 1893 not used T-M James F. Til lman Daniel N. Morgan Jul 1, 1893 - Jun 30, 1897 T-R James F. Til lman Ellis H. Roberts Jul 1, 1897 - Dec 2, 1897 B-R Blanche K. Bruce Ellis H. Roberts Dec 3, 1897 - Mar 17, 1898 L-R Judson W. Lyons Ellis H. Roberts Apr 7, 1898 - Jun 30, 1905 L-T Judson W. Lyons Charles H. Treat Jul 1, 1905 - Apr 1, 1906 V-T William T. Vernon Charles H. Treat Jun 12, 1906 - Oct 30, 1909 V-M William T. Vernon Lee McClung Nov 1, 1909 - Mar 14, 1911 _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 182 References Cited Friedberg, Arthur L., Ira S. & Robert, 2017, Paper Money of the United States, 21st edition: Coin & Currency Institute, Clifton, NJ., 328 p. Gurney, Gene and Clare, 1977, The United States Treasury, a pictorial history: Crown publishers, Inc., New York, 216 p. Huntoon, Peter, and Doug Murray, Sep-Oct 2019, Treasury sealing assigned to the Treasurer?s office in 1885: Paper Money, v. 58, p. 327-337. Figure 3. Seal 1: large brown seal with spikes dedicated by the Bureau of Engraving and Printing solely to Series of 1880 legal tender notes before sealing was transferred to the Treasurer?s office during the Bruce-Wyman era. Seal 7, used by the Treasurer?s office is identical. Figure 2. These are the seals used on bank currency during the 1885-1910 period with the only difference being that the seal on the left also came in blue. The seal on the right was used exclusively on Series of 1882 brown backs. Both differ from all seals used on large size Treasury currency. Figure 4. Seal 2: large round brown seal with finely reeded perimeter dedicated by the Bureau of Engraving and Printing solely to Series of 1880 silver certificates before sealing was transferred to the Treasurer?s office during the Bruce-Wyman era. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 183 Figure 5. Seal 3: Brown wavy seal dedicated by the Bureau of Engraving and Printing solely to Series of 1882 gold certificates before sealing was transferred to the Treasurer?s office during the Bruce-Wyman era. Figure 6. Seal 4. Large round red seal dedicated by the Treasurer?s office solely to Series of 1880 legal tender notes inclusive of Bruce-Wyman through Rosecrans-Hyatt signatures. Figure 7. Seal 5. Small round red seal dedicated by the Treasurer?s office solely to Series of 1880 silver certificates inclusive of Bruce-Wyman through Rosecrans-Hyatt signatures. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 184 Figure 8. Seal 6: large red seal with spikes of the same design as seal 1 used by the Treasurer?s office for all classes of Treasury currency on Rosecrans-Hyatt through Rosecrans-Huston notes following the decision to use uniform seals on all Treasury currency. Figure 9. Seal 7: large brown seal with spikes identical to seal 1 used by the Treasurer?s office for all classes of Treasury currency on Rosecrans-Huston through Rosecrans-Nebeker notes, which came about because the color on seal 6 was changed from red to brown. Figure 10. Seal 8: red seal with scallops that was adopted by the Treasurer?s office for all classes of Treasury currency during the latter part of the Rosecrans-Nebeker era. This seal, sometimes in different colors, was used on all large size Treasury currency from then on except the Series of 1896 silver certificates. Notice that it continued to be used at the BEP after 1910. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 185 Figure 11. Seal 9: small red seal with fine saw teeth adopted for Series of 1896 silver certificates by the Treasurer?s office owing to lack of open space in the crowded face designs. Figure 12. Seal 10: blue seal with scallops of the same design as seal 8 adopted for the Series of 1899 silver certificates by the Treasurer?s office. Notice that this seal continued to be used by the BEP when sealing was returned to it in 1910. Figure 13. Seal 11: gold seal with scallops of the same design as seal 8 adopted for the Series of 1906 & 1907 gold certificates by the Treasurer?s office. Notice that this seal continued to be used by the BEP when sealing was returned to it in 1910. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 186 Figure 14. The red scalloped Treasury seal on Fr.1192a (middle)?a Rosecrans-Huston note?is anomalous because the seal otherwise did not appear on Treasury currency until the Rosecrans-Nebeker era was well underway. The note should have a large brown spiked seal as on Fr.1192 (top). Furthermore, the placement of the seal is low and to the left of its normal position on the younger Series of 1882 $50s that did carry a red scalloped seal as on Fr.1193 (bottom). C128690 is a serial number from the middle of the Rosecrans-Huston range. The production of Fr.1192a is a mystery. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 187 HONG KONG SHANGHAI LONDONMUNICH SARASOTA Collect With Confidence Worldwide For more information, visit: NGCcoin.com PMGnotes.com NGC and PMG have earned the trust of collectors and dealers worldwide through their unrivaled expertise, stability and integrity. Together, the companies have certified more coins and paper money than any other grading services, and operate the largest network of global submission locations. In fact, NGC and PMG now operate more than 82,000 square feet of purpose-built offices dedicated to expert certification services, including expanded locations that recently opened in Hong Kong and Munich. As part of the Certified Collectibles Group (CCG), NGC and PMG share a long-term management team, as well as the financial backing to support their industry-leading guarantees of authenticity and grade. That?s strength and stability you can trust. 20 GLOBALLOCATIONS 50 GRADINGEXPERTS 47,000,000 COLLECTIBLES GRADED 46 YEARS OF COMBINEDINDUSTRY LEADERSHIP 19-CCGPA-4959_CCG_Ad_NGC_PMG_Stability_PaperMoney_MayJune_2019.indd 1 4/1/19 11:14 AM Dual Signatures on National Bank Notes by Frank Clark Peter Huntoon touched on this subject briefly in his small size reference, The National Bank Note Issues of 1929-1935. There is not a listing in that book, but only one bank is specifically mentioned that had the same person serving in both the cashier and president positions. I have kept track of this anomaly for many years. This listing is the fruits of my labor. The listed year(s) beside the officer's name are the year(s) that he served as both the cashier and president. Sometimes, the years were not consecutive. Also, the signatures can be identical or they are a little different. It is possible to match many of these notes with a different officer pairing from the same charter number. The years were gleaned from the SPMC's Bank Note History Project. I believe it is time to share this with the SPMC membership. Bank Charter # Series Type Officer First NB of Oroville, CA 6919 1929 1 C.W. Putnam (1929) Florida NB of Lakeland, FL 13370 1929 1 J.W. Gressing Florida NB of Lakeland, FL 13370 1929 2 J.W. Gressing (1933) First NB of Milledgeville, GA 9672 1929 1 John W. Hutchinson (1932-35) West Side NB of Chicago, IL 11009 1902 Plain Back Thomas J. Healy (1921) West Side NB of Chicago, IL (fig. 1) 11009 1929 1 Thomas J. Healy (1927-30) West Side-Atlas-NB of Chicago, IL (fig. 2) 11009 1929 1 Thomas J. Healy (1930) First NB of Bristol, NH 5151 1929 1 William C. White (1928-34) Fairport NB & TC of Fairport, NY 10869 1929 1 E.G. McGinnis Fairport NB & TC of Fairport, NY 10869 1929 2 E.G. McGinnis (1927-34) First NB of Islip, NY (fig. 3) 8794 1929 2 C.O. Ireland (1933-35) First NB of Palmyra, NY 295 1902 Plain Back R.H. Smith (1924) First NB of Port Jefferson, NY 5068 1902 Plain Back F. Kline First NB of Port Jefferson, NY 5068 1929 1 F.A. Kline First NB of Port Jefferson, NY 5068 1929 2 Francis A. Kline (1927-35) Mr. Kline's signature appears as F.A. Kline for cashier & Francis A. Kline as president on Type 1 & Type 2 notes Waukomis NB of Waukomis, OK 10227 1929 1 John R. Camp (1928-30) Merchants NB of Defiance, OH (fig. 4) 2516 1902 Plain Back Fred S. Stever (1925) Merchants NB of Defiance, OH 2516 1929 1 Fred S. Stever (1929) First NB of Kingston, OH 9536 1929 2 Philip M. Dunlap (1933-35) First NB of Sheridan, OR 8721 1929 2 H.C. Smith (1934-35) Ambridge NB of Ambridge, PA (fig. 5) 10839 1929 2 R.W. Aye (1933-35) First NB of Jellico, TN (fig. 6) 7665 1929 1 Sam Baird (1928-31) First NB of Reardan, WA 13444 1929 1 B.W. Hughes (1930) NB of Keyser, WV (figs. 7 & 8) 13831 1929 2 Jos. E. Patchett (1934) _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 189 Figure 1 Figure 2 Figure 3 Figure 4 _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 190 Figure 7 Figure 5 Figure 6 Figure 8 _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 191 The First National Bank of Havre de Grace, Md., Charter 3010 by J. Fred Maples This bank was chartered July 21, 1883 with Arthur Vosbury, president, and Robert K. Vanneman, cashier. The bank was successful right away as the Baltimore Sun reported on November, 19, 1883: ?The First National Bank of Havre de Grace was only opened for business on September 1, yet the deposits already amount to $152,000, and the earnings have been between three and four thousand dollars?The bank building, a very pretty affair, is on Washington street. Besides having a fine burglar-proof safe, the bank is further protected by the cashier's residence being above.? Over its 52-year lifespan this bank issued $633,640 in 1882 Series, 1902 Series, and 1929 Series notes, averaging about $20,000 in circulation, and continued through the end of the national currency period. Vosbury served as president until 1889 and was followed by Abram P. McCombs 1889-1916, Stephen J. Seneca 1916-1918, and finally Charles B. Silver 1918-1935. Vanneman was followed by William N. Coale as cashier from 1913 to 1935. Figure 1: $50 1902 Red Seal. The First National Bank of Havre de Grace, Md. This beautiful note was issued to the bank May 2, 1906, where the meticulous pen signatures of R.K. Vanneman, cashier, and A.P. McCombs, president, were applied. The fun bank serial #44 adds appeal. This bank issued just 124 sheets of $50 and $100 1902 Red Seals between 1904 and 1909. Interestingly $50 in 1906?s dollars would be worth over $1,400 today. The best available note from this bank for collectors today ? and arguably from all of Maryland - - is this $50 1902 Red Seal, Friedberg # 664, certified by PMG Very Fine 30. This note is wonderful in all respects, combining rarity and grade, with great color, bold pen signatures, and eye appeal. This note is one of only five known $50 Red Seals from Maryland, and the only one from outside of Baltimore, and according to the National Bank Note Census, one of only 104 known from all banks in the country. This note has a distinguished pedigree, most recently as a highlight of Marc Watts? Maryland collection when it sold for $66,000 in Heritage?s 2018 FUN sale, Lot 20973. Watts remembers buying this note from a Spink auction in the 1990s for about $40,000 against a crowd of bidders, and afterward he ?loosened up to buy the big notes?. Previously this note was in Bob Cohen's collection of the 1970s, who likely bought it from the 1982 Hickman & Oakes Memphis sale, Lot 299, where it fetched a then-princely sum of $1,500. This note was also included in Lyn Knight?s 1978 Memphis sale asking $2,250. The short-lived series of 1902 Red Seal national currency notes was authorized by The Act of April 12, 1902, which provided for reputable, established banks to extend their charters for another 20 years and for new banks to gain a 60-year charter. Like all national currency notes, 1902 Red Seals were secured by federal government bonds deposited with the U.S. Treasurer. All 1902 Red Seals include the impressive portrait of John Sherman, secretary of the Treasury from 1877 to 1881, and secretary of state from 1897 to 1898. In the early 1860s Sherman, then a senator, conceived of the idea of national banks. Sherman was also the author of the Sherman Silver Purchase Act of 1890 that authorized the now-popular Treasury Notes (also called coin notes). The 1902 Red Seals were issued until the Aldrich-Vreeland Act of May 30, 1908, went into effect, when they were abruptly replaced by the 1902 to 1908 Date Backs, which _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 192 provided more elasticity and were guaranteed in bonds ?and other securities?. This bank continued to grow and remained an important part of the Havre de Grace community as the Baltimore Sun reported September 1, 1906: "Today on its twenty-third anniversary, the First National Bank of Havre de Grace will begin business in its new home. The new building of the bank is 30 by 65 feet, 22 feet to the square, with a 12-foot L. It is constructed of cut and rock-face granite from the McClenahan quarries at Port Deposit, with copper cornices and Spanish the roof, and was designed by Architect W.L. Plack, of Philadelphia, the work being done by the John A. Sheridan Company, of Baltimore. The building is fireproof, the basement and first floor being of reinforced concrete and masonry. The banking apartment is large and roomy, with mezzanine floor and six beautifully ivory-capped onyx columns and apple-green walls. The vestibule is lined with mahogany, with a base of verde antique, while the banking room is lined with Norwegian marble, with cap and base of Italian verde antique. The doors, desks, partitions and furnishing are of the finest African mahogany.? As president Abram P. McCombs signed this $50 1902 Red Seal, along with Robert K. Vanneman as cashier. Both men were noted and respected citizens of Havre de Grace. McCombs was an iron works manager, coal dealer, newspaper founder and editor, and town commissioner, who lived into his 90s. Per the Havre de Grace Democratic Ledger of January 15, 1916, McCombs? obituary reads in part: ?Mr. Abram Prizer McCombs, 93 years of age, died at his home on Union Avenue about 11 o?clock Thursday night. He was senior editor of the Havre de Grace Republican, having founded that newspaper in 1868. Mr. McCombs was born in Coventry, Chester County, Pa., and came to Harford County in 1855, and located at Sarah Furnace in the Fourth district. In 1865 he went to Ashland Iron Works, Baltimore County. A year later he came to Havre de Grace and organized the Havre de Grace Iron Works. He was deputy collector for eight years and served under Collectors Thomas and Burchnal. In 1878 he was candidate for Congress on the Greenback Labor ticket, but was defeated. In 1883 he helped to organize the First National Bank here, being a director since its organization and its president since 1889 until last Tuesday, when he was succeeded by Mr. S.J. Seneca. In 1849 he married Miss Maria C. Schott at Lebanon, Pa., who survives him, together with one son, Mr. William S. McCombs, and one daughter, Mrs. Mary Packard. Mr. and Mrs. McCombs celebrated their 60th wedding anniversary a few years ago.? Conversely Vanneman?s obituary of Baltimore Sun, July 9, 1912, reads: ?The death of Robert K. Vanneman, former Mayor of Havre de Grace and cashier of the First National Bank, of this city, which occurred at Johns Hopkins Hospital, Baltimore, at 1 o?clock this morning marks the close of a long career of business usefulness. Mr. Vanneman had been in poor health for the last three years, but had attended work until last Thursday, when he collapsed and was hurried to a specialist. Death was due to a complication of liver, kidney and stomach troubles. Mr. Vanneman was 59 years old, a native of Cecil county and son of the late John and Caroline Carr Vanneman. At the age of 17 years he entered the Cecil Bank of Port Deposit, beginning as a runner. He lived at Havre de Grace for 29 years, having come to the city in 1883, when the First National Bank was organized, to become its cashier. He was one of the most prominent men of this place and was widely known, having been connected with large and varied business interests. He was elected to the Havre de Grace City Council in 1892, and became Mayor in 1895, serving six successive terms, until 1901. During his administrations many public improvements were made, notably the erection of the handsome school building and the remodeling of the old town hall into a modern opera house. His ideas were progressive and far reaching.? Havre de Grace, Maryland, is on the Susquehanna River in Harford County, and was incorporated in 1795. In 1782 General Marquis de Lafayette, a Frenchman, crossed the Susquehanna at the Lower Ferry, and was amazed how the place closely resembled Le Havre, France. Havre de Grace means ?Harbour of Grace? and comes from Le Havre, France, whose earlier name commemorated a chapel dedicated to Notre-Dame de Grace. An earlier French traveler exclaimed ?C?est Le Havre; Le Havre de Grace!? Lafayette agreed and was equally enthused, and soon the new name took hold. Later Havre de Grace became the county seat, and during the first Congress in 1789 was almost chosen as the United States capital, but the deciding vote for Washington, D.C. was cast by the Speaker of the House. The town was burned and plundered by the British army during the War of 1812. The first railroad access came to Havre de Grace around 1840. Interestingly railroad track was laid right on the winter ice of the Susquehanna River in 1852, as that winter was cold enough to freeze the river sufficiently, and railroad cars crossed with no problems for six weeks. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 193 NOTE ISSUING BANKS IN ANTEBELLUM FAYETTE COUNTY PENNSYLVANIA by Gerald Dzara Fayette County is south of Pittsburgh, with its southern boundary being the Mason Dixon Line. In the early 19th century its economy was mainly agriculture. The great coal boom was decades in the future. Before 1814, the Commonwealth's policy was to have a few large banks, (Bank of North America, Bank of the United States, Bank of Pennsylvania) with branches in select locations. Small local banks were discouraged, with the governor vetoing charters This changed, and after 1814, local banks were given state charters. The first bank was The Monongahela Bank in Brownsville. It opened in May 1812 and ran without a charter until 1814, when it received a state charter. Jacob Bowman was elected president and William Troth cashier. Bowman ran a "trading post" in the early days (bank shown at left) of the town, and branched out into building boats and paper manufacturing. The bank issued $I's 2's, 5's 10's and 20's printed by Toppan Carpenter, and fractional notes printed by John Bouvier. (left). In 1864 the bank took charter 648 as The Monongahela National Bank. It went into receivership in 1931. The Union Bank opened without a charter in Uniontown in August 1812. A charter was granted in 1814 and it stayed open until 1821. Prominent local lawyer, John Kennedy was president and John Simms the cashier. Kennedy eventually served on the Pennsylvania Supreme Court. It issued, fractional notes, 6 ?, 12 1/2, 25, 50 cents, and also $I's. 2's 3's, 5's, 10's and 20's. All were printed by Murray Draper Fairman.(top next col). The Connellsville Navigation Co opened in October 1816, with a state charter to improve navigation on the Youghioghany river and build bridges across said river. The company used this charter to issue notes. At no time did it make any "improvements" to river traffic, and it simply functioned as a banking house until 1831. Isaac Meason was president and John Trevor cashier. Meason, a revolutionary war officer, owned iron furnaces and was the richest man in the county The Company issued $46,600 in $I's, 3's 5's and 10's, printed by Turner Kearny Tiebout. At closure $1512 was listed as unredeemed. (below) The Farmers and Mechanics Bank of Fayette County in New Salem also opened in October 1816, without a charter. This bank was a total scam from the beginning. New Salem was a small settlement in the backwoods, known for gambling, drinking and cattle rustling. It was said that any missing livestock would be found there. Aaron Torrance, Timothy Smith, Peter Black and J. Morse were non locals who established the F&M Bank. Torrance was president and Smith, later Morse, were cashiers. They Jacob Bowman John Kennedy _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 194 spread this money anywhere it was accepted, and when the scheme collapsed, they fled to "the wilds of the Ohio". Notes from 6 1/4, 12 ?, 25, 37 ?, and 50 cents were printed by J Bouvier and J, Snowden, $I's, 3's and 5's were printed by Wm Harrison (below). October 1816 was a busy month for banks as The Youghaghany Bank was established in the small village of Perryopolis, again unchartered. Perryopolis was a market town for local farmers, with a grist mill, distillery, fulling mill and a glass works. Isaac Sparks was president and Joseph Bennett and David Allen were cashiers. Sparks was involved in the glass works and Allen was a Constable. The bank failed in 1819. John Bouvier printed 6 ? , 12 ?, 50cts and $1. Murray Draper Fairman printed $2's, %'s and 10's. At least $117.50 was unredeemed. (below and top next column). The last bank was The Bank of Fayette County, chartered December 1857. Alfred Patterson was president and William Wilson was cashier. The bank issued $1 's 2's 5's 10's and 20's printed by American Banknote Co. In 1865 the bank became The National Bank of Fayette County charter # 681 and lasted until 1931. In my experience all notes, with the exception of the New Salem issues, are very scarce to rare. Alfred Patterson _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 195 U n c o u p l e d : Paper Money?s Odd Couple Joseph E. Boling Fred Schwan More Chinese Frauds Last issue I introduced you to a group of Chinese notes printed for collectors or tourists. We will pick up three more of them in this issue, and leave the others for another time. First up is a 10 yuan note of the Fukien South- Eastern Bank, dated 1929 (figures 1 and 2). The English title on the back is misspelled, but this does not immediately condemn the note. There are many Chinese notes of this vintage, printed locally, that garble the Western languages used on their backs. Recall that one of the notes we looked at last issue was a fantasy. It bore a serial number in a distinctive font that is associated (so far) with only replicas and fantasies. Lo and behold, this month?s Fukien note uses the same font. See Boling page 198 Allied use of MPC?part 5 Over the past few issues, we have examined the use of military payment certificates by allied personnel. Such use began with the first series and continued through Series 692. The circumstances of the allied use varied substantially over this period. Today we will consider two additional possibilities: use by peace keeping forces and use by foreign nationals in United States armed forces? whom I call ?hidden allies.? Peace keeping forces I first considered the use of MPC by peace keeping forces when I visited the Windsor, Ontario coin club several years ago. There a member told me quite emphatically about a person who had served on a peace keeping force and insisted that he had used MPC. At least that is how I remember our conversation. I haven?t researched that clue until now. The International Commission of Control and Supervision was created to oversee the cease fire in South Vietnam as laid out in the terms of the Paris Peace Accords. Initial members of the ICCS were Canada, Indonesia, Hungary, and Poland. Canada supplied 240 personnel from the Canadian forces and fifty diplomats to the commission. The ICCS arrived in Vietnam on 28 January 1973, one day after the peace accord was signed. Members of the ICCS were dispatched immediately to 45 locations to supervise the exchange of prisoners and disarmament of combatants. One member of the Canadian contingent, Captain Charles Laviolette, died in a helicopter crash, and two officers of The Royal Canadian Regiment were abducted by the Viet Cong and held captive for 17 days. By 31 July 1973 Canadian participation in the ICCS ended; they were replaced by Iranians. The ICCS continued to operate for almost two years, until 30 April 1975. (Source for above and photo (next pg.): www.canadiansoldiers.com/history/internationalmissi ons/iccs.htm.) Figure 1 above & Figure 2 below _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 196 Did these Canadians use military payment certificates? Series 692 MPC was withdrawn from use in Vietnam on 15 March 1973. Therefore, it is entirely possible that the ICCS used MPC from arrival in January through the retirement of MPC. The Canadians and possibly the other ICCS members used American transportation and other equipment, so it is certainly possible that they used MPC. If the Canadians used MPC, did the Indonesians, Hungarians, and Poles use it as well? That would be a really interesting revelation! While it will not be easy to verify any MPC use, it should not be impossible. Some of the hundreds of ICCS members are still alive. Documents creating the ICCS and reports rendered by it must exist, and books likely have been written about the operation. That is just what I need, another deep research project. If the ICCS did not use MPC, or even if it did use MPC, did it have some other special money for use only by the ICCS after 15 March 1973? Such a prospect is even more exciting than use of MPC! Hidden Allies There is one more category of people who used MPC in Vietnam?those who served in United States forces but were citizens of other countries. To the surprise of many?then and now?non- citizens were drafted into the United States Army. In addition to draftees, a substantial number of non- American citizens volunteered for one of the branches and served in Vietnam. The draftees and many of the volunteers were residents of the United States. Many others were not. Of the residents who were drafted, the overwhelming majority were Canadian or Mexican. Certainly, there must have been a few draftees and volunteers from many different countries, but those numbers were really small. Service in foreign forces is not all that rare. In both world wars, Americans served and fought in foreign services before the United States entered the frays. The numbers for Mexican and Canadian are remarkably high, although as far as I can tell there are no official figures. As many as 30,000 of each may have served in Vietnam! I have found this estimate specifically for Canadians. The number for Mexicans is even harder to pin down. The Mexican and Canadian service in Vietnam is not entirely forgotten in the two countries. The Canadian Vietnam Veterans Memorial was created in 1995. It is in Windsor, Ontario. It honors the Canadians who died as a result of their Vietnam service. Although the reports vary on this number, sadly at least 133 Canadians qualify and their names are listed on the memorial. These same names are on the Vietnam Memorial in Washington, D.C. The memorial (known as the North Wall) is not very far from where I live. That means that it is not far from MPCFest headquarters. One year soon I think that the Fest will make a field trip to this memorial. I could not find any evidence of such lasting physical recognition for Mexican or Mexican- American Vietnam veterans, but there is at least one recognition. Ring Of Red: A Barrio Story is a play about part of a years-long effort that has gathered more than fifty oral histories of these veterans. All of these volunteers and draftees used MPC in Vietnam. Of course, their individual use as a citizen of whatever country is not the same as that country sending forces representing the country. Still, it is at least a hook. Certainly, MPC can be found in some scrap books and souvenir groups in Canada today. Three Canadians or Mexicans may have gotten together sometime and created short snorters commemorating their outing. It may have happened, but no such short snorter?or other artifact?has been reported. It would be great! There was some exciting MPC news in March. Below is a somewhat updated version of the story that Captain Sam McInns stands outside the Cao-Dai Temple in Tay- Ninh. The ICCS was equipped with vehicles from American stores, including these M151 and M151A2 1/4-ton trucks. The color of these MUTTs has been the subject of much debate on Canadian military web forums, with some saying they were black, while others thought they were left olive drab. Both colors are in fact correct. The two vehicles nearest the camera are black, the rest are OD. The spare wheel cover reads ?ICCS BASE Canadian Contingent Warrant Officer.? Credit: DND Photo Unit VNC73- 362. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 197 appeared in MPCGram. The Gram, as it is known, is a free electronic newsletter by, of, and for collectors of MPC and other military numismatic items. If you would like to receive the MPCGram, write to me at fredschwan@yahoo.com. One of the great holes in our knowledge about military payment certificates has been filled. As if out of the ether, a Series 701 $5 replacement appeared in a Stacks-Bowers auction catalog. No replacements from this series have been reported in any collection. There are many interesting aspects to the discovery of this great note. The first thing that you will notice is that the certificate has two holes. Such holes are well known. Most of the first printing regular issue format notes (as opposed to specimens and replacements) in collections have these holes. While other stories have circulated, I believe that these holes were intended as cancellations. If you look at the listings for first printing notes in the MPC book (page 240), you will find that the notes have these holes. Since the book was released (2002) specimen notes from the first printing without the holes have been placed into collections, but none with regular issue serial numbers. At the same time, I have not seen any of the second printing certificates with the cancellation holes?until now. This replacement is from the second printing?the first piece of that group to appear with this characteristic. Of course, the very existence of this replacement is the headline. It cries out for more research, which we are certainly going to conduct. Meanwhile, some dedicated collector was willing to pay $9600 for it in the recent Baltimore auction. I hope he comes out of the shadows and allows us to give it a close inspection. Boling continued Figure 3 is a closeup of the two notes? serial numbers. The illustration of the number in the previous column was too small to show the distinctive tall narrow numerals. Figure 3 should be much easier to use. Figure 4 is a closeup of two digits of the serial, which is letterpress as it should be. But in addition to having one strike against it?the font is not known on any genuine notes?look at all the dots in the blue tint behind it. This is again a screened image; the blue tint should be continuous lines instead of all those chopped-up fragments. Figure 5 is one of the seals on this note. It should also be letterpress, but it is lithographed in two colors that are misregistered?the red and yellow should be together to make orange, but the yellow is a shadow above the red (you may not be able to see the yellow in the magazine). Figure 3 above and Figure 4 below Figure 5 _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 198 There really was a Fukien South-Eastern Bank, but all of its published notes are dated 1928 and have the English spelled correctly, and none uses this design. This appears to be another fantasy piece. Next up is a note that is a perennial favorite with both tourists and collectors?it portrays Vladimir Ilyich Lenin (figures 6 and 7). This is a copy of Smith- Matravers C275-1, with a 19-character main title? Chinese Soviet Republic National Bank, Hunan?West Hupeh Special Branch. It is dated 1931 and denominated one jiao (one-tenth yuan). The note has two things going for it?the serial font is one that is not linked to fakes, and the serial number is letterpress. But it?s all downhill from there. Figure 8 is a closeup (20x) of part of the serial number, showing its letterpress features. But the tint behind it has the same issues we have already seen?a screened image that is misregistered. The blue and yellow that are supposed to make green have the yellow shifted to the northeast, leaving the blue lines completely blue (on a genuine note one ink, in green, would have been used). Figure 9 shows one of the seals. In this case both the blue and the red are accompanied by yellow shadows, instead of being converted to green and orange, respectively (and what was supposed to be orange should also be letterpress, like the serial number is). Figure 10 shows Lenin?s right shirt collar. Instead of being white, it is covered with blue dots. The reproduction process does not like empty space, and has placed blue and a few red dots on the collar to give it some tone. The naked eye will not see them, but your 20x-aided eye will. Our last note is an undated remainder 10-yuan piece from the Tientsin Wan-Yi River Bank (figures 11-12). Again, I have not been able to get a matching genuine piece (there may not be one to get). What I do have is images from the Heritage website of a 5 yuan of the same issuer dated Kuang Hsu 30 (1904) (figures 13-14). Both denominations show Chinese silver one- yuan coins on their backs, in the same fashion that some US silver certificates of the 19th century showed silver dollars on their backs. Figure 6 above and Figure 7 below Figure 8 Figure 9 Figure 10 _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 199 But look at how muddy the 10-yuan note is. Figures 15-17 show why. Those are 20x photos of the first character of the date, the printer?s imprint, and part of the legend on one of the coins. All those dots in that specific pattern tell us that this note is reproduced using four-color process lithography, and not very well done. I do not have 20x images of the 5 yuan note because I never had it in hand. Figure 11 above and Figure 12 below Figure 13 above and Figure 14 above Figure 15 Figure 16 above and Figure 17 below _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 200 Do you recall that reproduction processes do not like empty space? Figure 18 shows part of the margin of the 10 yuan note, where there is a split in the edge (artificially created to make the note look well-used). See all those dots going right out to the edge of the paper? That?s the reproduction process filling empty space. Whenever you find that kind of printing in the margins of a note, you are not looking at a genuine piece. But you have to use high magnification to see it. 20x is your best friend in separating genuine notes from frauds. Ultraviolet illumination is your next best friend. Get and use both. I will find something else to cover next issue. Have a nice summer. In Memoriam David E. Seelye of Prescott, AZ passed away peacefully on March 24, 2020, at the age of 73. Dave was born on September 13, 1946 in Watertown, NY. As a veteran, he proudly served in the US Army and then earned degrees in Economics and Chemistry from the University of Buffalo. Dave was also an expert numismatist specializing in Military Payment Certificates, World Paper Money and Internment camp and POW Chits, to name a few. This passion led to publishing two books, the most recent being The Complete Book of World War II USA POW & Internment Camp Chits which he co-authored with his friend, Dave Frank. He was awarded the Ray Toy award for service to the MPC community. He will be long remembered and missed by his many friends and colleagues. If anyone would like to make memorial contributions, the family has suggested two organizations that were dear to David's heart: (1) People Who Care, PO Box 12079, Prescott, AZ 86304 or (2) Military Numismatists Scholarship Fund (in Memory of David E. Seelye on memo line), c/o Dan or Kathy Freeland, PO Box 195, Mayville, MI 48744. Figure 18 _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 201 Chump Change Loren Gatch Laundering Money at the U.S. Treasury, 1912-1918 The COVID-19 pandemic has had one peculiarly distressing effect on our hobby: it has accelerated the trend towards cashless payments. Whether fairly or not, currency use has now been targeted as one vector of viral transmission. Lurid details abound about how central banks now quarantine and disinfect their notes in the coronavirus era. But just as pandemics are nothing new, so too isn?t the laundering of money? legally and literally. Over a half a century ago, Forrest W. Daniel first wrote in these pages about how the Treasury Department once got into the money laundering business.* Let?s take a look back at that episode. During the antebellum era, the condition of currency was basically a responsibility of the private banks that issued it. As currency became a national concern, the federal government also confronted the problem of worn and dirty banknotes. After 1875, the National Currency Redemption Center sorted out worn notes before returning the circulation to their banks of issue. Banks disliked the expense and risk of shipping unfit notes. An estimated 30% of the notes received were not worn, but merely dirty, and the question arose whether there were cost savings to be had in cleaning currency rather than printing replacement supplies. These cost concerns were reinforced by changing social attitudes about cleanliness. By the 1870s and 1880s, researchers like Louis Pasteur and Robert Koch had provided persuasive evidence for the germ theory of disease. Victorian society reacted to these findings in ways large and small. Men?s beards disappeared, while women?s hemlines rose (both were seen as harboring harmful bacteria). Anxiety spread about the health risks of unseen microbes. Currency, too, came under attack for its perceived dirtiness. In the United States, Mr. A. Cressy Morrison of New York became known as ?Clean-Money? Morrison for leading the movement to sterilize money. Not everyone was convinced there was a problem. As one bank teller said, ?if one stops to think, money can?t be a very common means of transmission, for if it were there wouldn?t be many of us alive today.? As the clean money campaign was taken up by Congress, the Treasury began its own experiments, and by 1912 produced the first currency washing machine. The contraption was an integrated affair, capable of washing, rinsing, ironing, and drying notes in a two-minute process, with a capacity of 4,000 notes an hour. Its cleaning solution consisted of bar soap, germicide, and bleach. Later, similar apparatuses were installed in the Sub-Treasuries of New York, Chicago, Boston, and Philadelphia. Bankers and businessmen were divided on the wisdom of the new service. Some would have preferred crisp, new notes, while others liked the softer texture of washed money because it was easier to count. More certain were the cost savings of money laundering. Washing cost thirty cents per hundred notes; printing the same number of new notes cost $1.30. If one money washing machine could process up to 35,000 notes a day, even with some notes rejected for reuse, the savings still amounted to some $300 a day. The only sustained opposition to the scheme came from the printing pressmen at the Bureau of Engraving and Printing, who understandably preferred the business of printing new notes. In a series of public attacks on the project, the pressmen deplored the use of ?soapsuds money?, alleging that, once washed, it would be difficult to distinguish such notes from counterfeits. There were some limits to this legal money laundering. Only bills of $20 and smaller got the treatment. Higher denomination bills were always replaced. In addition, money washing was confined to silver certificates and United States notes. National bank notes were regarded as unsuitable candidates for washing. Because they were either signed by hand or by rubber-stamped facsimiles, the inks used could not withstand the washing process. The establishment of the Federal Reserve System in 1913 brought with it a new currency, and the question arose whether its notes would also receive laundering services. While Treasury and Federal Reserve officials saw no problem in doing so, the fact that these notes were liabilities of the central bank _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 202 required separate washing facilities outside of the Treasury. Soon, the gathering storm of the European war led to shortages of the sort of ink and paper that were suitable for washing (paper with linen content), and the U.S. Treasury?s venture into money laundering was suspended. With the end of the war, however, the program could have resumed had it not been for the opposition of the Secret Service, which apparently felt that there was some merit after all to the pressmen?s objections that washing currency was making it harder to discern counterfeits. *?The Paper Money Laundry?, Paper Money Vol. 6, no. 2 (Spring 1967). Reprinted in Vol. 23, no. 3, (May/June 1993). _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 203 $ m a l l n o t e $ Treasury Ceases Printing Deuces By Jamie Yakes The Treasury Department released a press statement in August 1966 to announce their decision to cease printing $2 United States notes. That announcement is reproduced here (Treasury, 1966): Treasury Department, Washington, D.C. For Immediate Release, No. F-579 August 10, 1966 The Treasury Department announced today that no further $2 United States notes will be printed, because a lack of public demand indicates this note serves only a limited public interest. As of June 30, 1966, the $2 currency outstanding amounted to $139,321,994, approximately one-third of 1 percent of the total currency outstanding. Most of the $2 notes issued lie for long periods unused in bank vaults. Because the $2 bill is not circulated freely, the average life of each $2 bill is about six years, compared to the $1 and $5 bills which wear out in 18 to 20 months. Movement of the $2 bills out inventory has been so slow that none has been made since the end of Fiscal Year 1965 (Jun 30, 1965). Existing stocks of the new $2 United States notes will be issued, and $2 bills returned to the Federal Reserve Banks in a condition fit for continued circulation will be recirculated as long as the current supply lasts. Appropriations for the current fiscal year did not provide funds for printing $2 United States notes, and the Treasury has no plans to seek funds for this purpose in the Fiscal Year 1968 budget. The $2 bill has a long history. On June 25, 1776, the Continental Congress authorized the issuance of $2 million in ?bills of credit for the defense of America.? Under this authority, 49,000 bills in the $2 denomination were issued. During the Civil War, an Act of Congress of July 11, 1862 [the first Legal Tender Act], permitted issuance of $2 notes, as United States currency. For the large size era, $2s notes were issued in a variety of classes. Following the Legal Tender Act of 1862, the original National Bank Acts authorized the issue of $2 National Bank Notes. Legislation then passed in the 1870s prohibited issue of National Bank Notes in denominations of less than $5, and from then on the Treasury stood as the only issuer of $2 notes. In 1886, a pro-silver law authorized Silver Certificates to be issued in denominations of less than $10, paving the way for those $1, $2, and $5 notes. In the 1890s, Treasury issued Series of 1890 and 1891 $2 Treasury Notes. In the late 1910s, under actions of the Pittman Act, Federal Reserve Banks issued Series of 1918 $2 Federal Reserve Bank Notes to replace small-denomination Silver Certificates that had been removed from circulation. With the change to small-size notes in 1929, and the coincident shuffling of denominations and classes, Treasury again issued $2 bills only as United States Notes, until instructing the BEP to stop printing them during the Series of 1963A in the mid-1960s. Cessation didn?t last long, however, as the Treasury revived the denomination as Federal Reserve Notes in the 1970s, when Federal Reserve Banks issued bicentennial back Series of 1976 $2 notes. The banks issued $2s again in 1995, and have continued to do so with five subsequent series-year issues, that last being 2017. Circulation quantities of $2s have been printed, and the notes are often used in products designed for collectors. There is still little commercial demand for $2s. Sources Cited: 1. Treasury information release about ceasing production of $2 notes, August 10, 1966. Record Group 53-Bureau of the Public Debt: Entry UD-UP 13, ?Historical Files, 1913-1960,? Box 3, File K231. National Archives and Records Administration, College Park, Maryland. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 204 The Society of Paper Money Collectors was organized in 1961 and incorporated in 1964 as a non-profit organization under the laws of the District of Columbia. It is affiliated with the ANA. The Annual Meeting of the SPMC is held in June at the International Paper Money Show. Information about the SPMC, including the by-laws and activities can be found at our website-- www.spmc.org. The SPMC does not does not endorse any dealer, company or auction house. MEMBERSHIP?REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral character. Members of the ANA or other recognized numismatic societies are eligible for membership. Other applicants should be sponsored by an SPMC member or provide suitable references. MEMBERSHIP?JUNIOR. Applicants for Junior membership must be from 12 to 17 years of age and of good moral character. A parent or guardian must sign their application. Junior membership numbers will be preceded by the letter ?j? which will be removed upon notification to the secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or vote. DUES?Annual dues are $39. Dues for members in Canada and Mexico are $45. Dues for members in all other countries are $60. Life membership?payable in installments within one year is $800 for U.S.; $900 for Canada and Mexico and $1000 for all other countries. The Society no longer issues annual membership cards but paid up members may request one from the membership director with an SASE. Memberships for all members who joined the Society prior to January 2010 are on a calendar year basis with renewals due each December. Memberships for those who joined since January 2010 are on an annual basis beginning and ending the month joined. All renewals are due before the expiration date, which can be found on the label of Paper Money. Renewals may be done via the Society website www.spmc.org or by check/money order sent to the secretary. WELCOME TO OUR NEW MEMBERS! BY FRANK CLARK SPMC MEMBERSHIP DIRECTOR NEW MEMBERS 03/05/2020 15078 Greg Olson, Website 15079 Benjamin Hellings, Website 15080 John Fisher, Robert Calderman 15081 Jim Gardner, Gary Dobbins 15082 Mark TruelovePierre Fricke 15083 Benjamin Grinilia, Website 15084 Jimmy Denham, Website 15085 Mike Yasmer, Website 15086 Kurt Altman, Website REINSTATEMENTS None LIFE MEMBERSHIPS LM451 James Anthony De Falco, SPMC NEW MEMBERS 04/05/2020 15087 Ray Herz, Gary Dobbins 15088 Paul Landsberg, Gary Dobbins 15089 H. George Monticino, ANA 15090 Gary Pierson, ANA 15091 Igor Bakharev, Website 15092 Michael Shutterly, Gary Dobbins 15093 Clark Rogers, Website 15094 Fritz Scott, Robert Calderman 15095 Arthur Henrick, Frank Clark 15096 Patrick Doughney. Frank Clark 15097 Gloria Johnston, ANA 15098 Ransom Schultz, Robert Calderman 15099 Glenn Head, Robert Calderman 15100 Yaakov Mitrani, Website 15101 Henry Mensch, E-Sylum REINSTATEMENTS None LIFE MEMBERSHIPS None _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 205 The front of the Type-40 Treasury note endorsed by Capt. B. R. Davis, Assistant Quarter Master image: Kent Robertson The Quartermaster Column No. 12 by Michael McNeil Two hundred and sixty-three Confederate officers, most of them Quartermasters and Commissaries of Subsistence, are now known to have endorsed Confederate Type 39, 40, and 41 Treasury notes. The rate of new discoveries were an avalanche in the early days of research, and while new discoveries are rare, it should not be assumed that we have discovered all of them. The current Quartermaster Column describes a new discovery by Kent Robertson. Collectors should be aware that the Journal of the Confederate Congress records the commissions of a great many more Quartermasters and Commissaries than we have discovered on these notes; those with sharp eyes and armed with the right knowledge will know when they have spotted a new endorsement.1 The recent Heritage auction of Randy Shipley?s military endorsements in Orlando testifies to the strength of the market for these notes. A unique note endorsed by Capt. E. M. Stackpole, AQM, at Shreveport, Louisiana, fetched an astounding $7,800.00. Endorsements with places of issue and military units can bring strong premiums. The back of the Type-40 Treasury note with the May 26th, 1863 endorsement by (Capt.) B. R. Davis, AQM. Davis did not use his rank of Captain. He was given this commission in 1862 but dropped from the rolls of officers on April 16th, 1863, because his bond had not been received in Richmond (a casualty of poor communications between Texas and Richmond). The compact, left-handed script at the top is that of Edward Cross, Depositary in Arkansas, who originally issued the note on January 24th, 1863, just days after the fall of Port Arkansas to Union forces. image: Kent Robertson _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 206 The Battle of Fort Hindman (Arkansas Post). Image by Currier & Ives, courtesy of the Library of Congress and commons.wikimedia.org/w/index.php?curid=37164. The May 26th, 1863 endorsement by (Capt.) B. R. Davis, AQM also exhibits an endorsement of an earlier issue on January 24th, 1863 in a compact, left- handed script commonly associated with the handwriting of Edward Cross, Depositary in Arkansas. This was a strong clue that Davis might be associated with Texas. The National Archives files for Confederate Officers on the Fold3.com website quickly confirmed this. 1861 A letter of October 1st, 1861 by Davis was addressed to Gen?l P. O. Hebert in which he asked for a commission in the new ?Cond. Military Dept. of Texas.? He related his qualifications as having served as a 1st Lieutenant in the Mexican War and his current service as a Major in ?the Regiment of Volunteers commanded by Col. B. R. Nichols.? 1862 Davis was appointed on June 1st, 1862 as Quarter Master of the Third Regiment Texas Mounted Volunteers. This unit soon became the 25th Regiment Texas Cavalry.2 Davis was appointed Capt. & AQM to this unit on July 29th, taking rank retroactively to June 1st, confirmed on September 30th, and accepted on October 18th. A regimental return for the 25th Regiment Texas Cavalry for the month of September showed Davis present and stationed at Arkansas Post. Other documents show that in October Davis was stationed at Little Rock, Arkansas, and in November to December he was again at Arkansas Post. This location was fateful for the 25th Texas Cavalry ? in January the Union would launch a major offensive and all would be taken prisoners.3 1863 A Union offensive with an overwhelming force of 33,000 troops commenced on January 9th, and the Arkansas Post (Fort Hindman) surrendered 4,900 troops on January 11th, nearly one fourth of the total Confederate troops in Arkansas. The Union attack on Arkansas Post was led by Gen?l McClernand under the pretense of an original plan of attacking Vicksburg, and without the knowledge of Gen?l U. S. Grant, the commanding officer of the Vicksburg operation ? Grant considered Fort Hindman devoid of strategic value. McClernand?s goal was political advantage, and as he won the battle at Port Arkansas, he gained momentary political advantage but infuriated Grant, who was soon promoted to supercede McClernand and removed him. Military success requires cooperation, not self interested competition, and Grant was a case study in The header of a requistion by Davis at Arkansas Post, October 7th, 1862 image: Fold3.com _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 207 cooperative altruism (see Ron Chernow?s new book, Grant).4 Grant?s ultimate success in winning the war was certainly helped by weeding out the self- interested competitors on his staff. Both sides suffered from the effects of men like McClernand. The 25th Texas Cavalry was a part of the surrendered Confederate force, and most of them would be later exchanged and returned to service. After this battle Davis was attached to the Clothing Bureau of the Trans-Mississippi Department, a position he would hold until the end of the war. He was dropped from the rolls of officers on April 16th (i.e., he would not be paid) for failure to post a bond in Richmond. A requisition for forage located Davis in Shreveport, Louisiana on June 15th, which he signed as ?Capt. & AQM,? indicating that he was still quite active. In the summer of 1863 Davis was involved with the inspection of shipments of cotton on the British steamer HMS Gladiator at the Port of Matamoros, Mexico. A letter dated September 30th from the Head Quarters of the Trans-Missippi District Clothing Bureau in Shreveport, Louisiana to Chief Quartermaster Bloomfield in Houston asked for help in directing the Paymaster at Brownsville, Texas to advance one or two months pay to Davis, noting that he was without funds. 1864 In September 1864 Davis was still trying to resolve issues with his bond. The cover of one of his letters contains the remarks of his senior officers. The following comments show the poor state of communications between the Trans-Mississippi Department and Richmond: ?Office of the Chief QM District Texas, New Mexico & Arizona Houston, Sept 22, 1864 ?Respectfully forwarded. There is no doubt but Capt. Davis? bond was properly executed & forwarded through the regular channel, but like a great many others sent from this Dept never reached its destination. He is a good & efficient officer & it is to be hoped that he will be reinstated. The service can very poorly afford to lose such an officer.? This letter eventually found its way to Gen?l E. Kirby Smith, who forwarded it on to Richmond. The comments of the Secretary of War and the QM General in Richmond show that the appeal was successful and the original order would be revoked (i.e., Davis was to be reinstated as a paid officer). The approval reinstating Davis by A. R. Lawton, QM General, was dated December 15th, 1864, but the actual order took effect on February 21st, 1865; Richmond would fall less than two months later. 1865 Davis received $5,000 in ?new currency? on January 2nd, 1865 at Houston for his Quarter Master account. On April 26th Davis was still active and requested the appointment of a Captain to inspect the condition of fourteen bales of blankets shipped from Brownsville. But by this time Richmond had fallen, Gen?l R. E. Lee had surrendered, Gen?l Johnston was on the cusp of surrender, and President Davis was on the run. Capt. Davis signed a parole document at Houston on June 21st, 1865 and noted that his residence was Galveston, Texas. Discoveries of new endorsements will be made by those with sharp eyes, and there will be stories behind those endorsements. ? carpe diem Notes and References: 1. See the work by the author, Confederate Quartermasters, Commissaries, and Agents., Pierre Fricke, Sudbury, 2016. Updates with PDF files on new discoveries can be found on the website: www.csatrains.com. A 28 page booklet, An Imaged Key to the Military Endorsements on Type 39-41 Confederate Treasury Notes, with images of the endorsements of all the known officers as of October 2019 can be found on eBay in the listings for Confederate paper money. 2. The history of the 25th Regiment Texas Cavalry can be found on the Texas History Online website: tshaonline.org/handbook/online/articles/qkt26. 3. The Battle of Port Arkansas is described in detail on Wikipedia?s website: en.wikipedia.org/wiki/Battle_of_Arkansas_Post_(1863). 4. Chernow, Ron. Grant, Penguin Press, New York, 2017. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 208 Dreaming of the Keys! Have you ever awoken from a deep slumber to find you?d been vividly dreaming about currency? Don?t worry, all true collectors go through this ?you?re not alone! Now let?s step it up a notch. Have you ever dreamt of notes that don?t actually exist? It takes a special breed of fervid collector to reach this enlightened level of Tibetan Dream Yoga! If you are part of this elite group, then I am very sorry for your pain, Ha! I found myself going down this road very recently when I was drawn into a heated battle, feverishly bidding on a Top Pop 1/0 small size $10 Fed ?or was I?? Some notes are just so darn tough to locate that sadly you become forced to travel ?The royal road to the unconscious? in an attempt to find them. Can a collector be more dedicated than this!?! Levity aside, yes, I did actually suffer this fate thinking I was about add a literal dream note to my collection! Not only was it just a dream, my subconscious mind punished me further as I had a technology snafu while bidding and lost out on the note. Waking up all I could do was rub my eyes and laugh. Not only was I the dreaded underbidder ?but the note didn?t even exist, so at least I had that fleeting piece of redemption to hold onto. So, what note could bring such mental strain to this decidedly passionate collector? Only the key to the series he?s attempting to complete of course! While I had in fact dreamt of an overwhelmingly pristine 66Q example, in reality, featured here is my current example in well-loved Fine+ circulated condition. What makes this note so special is what we will delve into together. First let?s revisit the changes that took place on the series of 1950 Federal Reserve Notes! 1950 FRN?s marked a noticeable design change from their 1928/1934 predecessors. While on the surface the back design appears to be identical, the face of the notes changed significantly across all denominations. Elements of the second and third printings received a face lift and the move to smaller must be better firmly took hold. The ?TEN? counter located on the right side of the note was significantly reduced in size as were both the Federal Reserve Bank and Treasury Seals. ?Washington D.C.? was relocated from the lower right area of the portrait on earlier series to a bold new prime location above the ?TEN? counter and Treasury Seal. The typeface was reduced in size on both the obligation and the numerals that make up the serial number. Even the four numeric district identifiers and signatures have been pulled in closer to the portrait. While the basic structure of the $10 design is ultimately the same, the new layout with these subtle changes have greatly increased the open white space displaying a much cleaner contrast and overall, less busy appearance. Looking at Hamilton?s regal portrait, he now seems much more pronounced despite the image not actually changing in size! Study the images of these 1934D and 1950 tens. Can you locate all of the mentioned changes to the design? There are a couple of other design changes that I have purposely left out. One in particular is very significant! I will mail a small head $10 note to the first person who can spot the correct design change. As mentioned, the back design does look virtually identical from its inception on the first series of 1928 notes all the way through to the series we are now studying. However, during the later span of the $10 1950 FRN series a very subtle change was made that created some extraordinary collecting opportunities. 1950 tens were not the only notes to receive a back-side makeover. Federal Reserve Notes for series of 1950 Fives, Tens, and 1934D Twenties were all getting reformatted as were Silver Certificates for the series of 1934D Fives and Tens as well as the Legal Tender $5 1928F series. Even the 1935D series of $1 Silvers were getting their backs tweaked! All this moving and shaking was By Robert Calderman Fr.2010-G Narrow Variety 1950 $10 Federal Reserve Note G-A block Bp.1401 _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 209 devised to create a uniform standardized plate size. Faces were also being re-sized during this period, in a more limited capacity, but let?s leave that story for another day. Printed sheets across all series and denominations were slated to soon be increasing in size by 50% from 12-Subject to 18-Subject! Subsequently, all of these newly re-sized backs became the very last small size notes printed on 12-Subject sheets. Try collecting the very last back plate number for each series, block, and denomination. What an epic set that would be! This author has no definitive data on whether these plate changes were taking place specifically for the upcoming 18-Subject roll out or if the standardization was for an entirely unrelated purpose. What matters in my eyes are all of the amazing varieties these plate design changes created for the small size enthusiast! A multitude of change over pairs were printed in the process and the ability to collect multiple back variations for the same series, district, block, and even stars is absolutely fantastic! 1950 $10 FRN?s had both Wide and Narrow backs. All back plate #?s 1389 and below are the Wide variety and back plate numbers #1390-#1456 are the Narrow variety. See the enlarged images of back plate #1308 and #1401 for comparison. Even in circulated condition you can see the highlighted areas of the Narrow example were altered ever so slightly from their Wide predecessors, purposely to reduce the size of the design on the printing plate. All twelve districts of 1950 $10?s feature both wide and narrow backs. However, not all serial number blocks received narrow backs! Only New York and Chicago printed enough volume to necessitate multiple blocks. The New York B-A block was the sole 1950 $10 FRN across all blocks and districts to be printed and subsequently numbered as a wide variety only. Unfortunately, the change to the newly fashioned narrow back design took place nearly halfway into the B-B block serial number range, making it impossible for a narrow B- A to have ever been issued. New York also had a third B-C block that received both narrow and wide backs, the former being extremely elusive in Gem grades! While the B-C narrow variety is highly prized, it pales in comparison to the ?Dream Note? in our story. Over 161 million 1950 series Chicago Tens were printed beginning in February 1st, 1951 through May 5th, 1953 (Donlon ?69). Chicago?s received two serial number blocks, G-A and G-B. Beginning with SN G00000001A and ending in SN G61056000B. Both blocks received wide and narrow backs. While the wide G-A notes are exceedingly common, their narrow counterpart is excessively scarce and ultimately non-existent in Gem grades!! In any condition, even the narrow back G stars are easier to locate! Narrow back plates were introduced toward the tail end of the G-A run with the lowest observed example bearing serial number G92202739A. In fact, to underscore how extremely difficult these notes are to locate, both third party grading services have encapsulated a combined total of ZERO notes in all grades!!! You have to take reference books and price guides with a grain of salt as often notes will be clearly listed and even priced, giving the guise that these notes actually exist and can be added to your collection. Unfortunately, this is not always the case as we find here with this Hamilton ?White Whale?. When an Fr.2009-G 1934D $10 Federal Reserve Note G-D block Fr.2010-G Wide Variety 1950 $10 Federal Reserve Note G-A block Bp.1308 _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 210 opportunity presents itself to fill a hole in your collection, you must always remember my motto ?Rarity trumps grade 100% of the time?! If you are always waiting around for that perfect Gem, refusing all others, you will need several lifetimes to complete your collection, and even then, it still may never happen! Thus far, with collaboration, I have tracked a whopping total of (10) G-A narrow back examples which remarkably includes an error note and two changeover pairs! Wow, what are the odds of that! Just four short years ago, a five-note raw group lot listed as CCU sold at auction and included a single G- A narrow as part of a C.O.P. The narrow example was poorly centered and had a partially removed teller stamp. If this note is in fact uncirculated, it currently reigns supreme as the finest known example maxing out at a potential grade of 63 no Q w/ comments! While it is still not my ultimate Gem+ dream note, I?d say a 63 Net beats my Fine 15 example any day of the week!! Assistance adding data to this ultra-niche coveted variety is greatly appreciated. Please submit your serial numbers, plate #?s, and images to my email address below. Happy hunting! Special thanks to Jamie Yakes for contributing print run, delivery dates, and back plate data for Chicago 1950 $10 Federal Reserve Notes! And to Jim Hodgson for contributing observed serial numbers. Do you have a great Cherry Pick story that you?d like to share? Your note might be featured here in a future article and you can remain anonymous if desired! Email scans of your note with a brief description of what you paid and where it was found to: gacoins@earthlink.net? 1950 G-A Block Narrow Bp.1401 1950 G-A Block Wide Bp.1308 1950 $10 G-A Narrow w/ Ink Smear Error Bp.1401 _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 211 The Obsolete Corner The Philadelphia and Reading Railroad Company by Robert Gill Spring has finally arrived, and hopefully everyone is now experiencing nice weather. Here in Southern Oklahoma, the grass is green, the trees have their leaves, and my tomatoes are planted. Ah... my favorite time of the year! It's also time to be making preparations for Kansas City, where we will all be gathering for the International Paper Money Show. So, put aside what you're doing from June 10th thru June 13th, and come and join us. Now, let's look at the sheet from my collection that I'm sharing with you in this article. In this issue of Paper Money, let's go to the state of Pennsylvania. The Philadelphia and Reading Rail Road Company was very important to the economy of that part of the country. I'm especially proud to be the owner of this nice sheet of notes, as it came from the vast collection of Eric P. Newman. And now for its history. The Philadelphia and Reading Rail Road was chartered April 4th, 1833, to build a line between its namesake cities, Philadelphia and Reading, alongside the Schuylkill River. The rail from Reading to Norristown opened July 16th, 1838, and the full line was completed by December 9th, 1839. It was one of the first railroads constructed in the United States. The main reason for its construction was to haul anthracite coal from the mines in northeastern Pennsylvania's coal region to market in Philadelphia. This became a very profitable business as coal replaced wood as the fuel of choice in business and homes. It was very quickly able to expand by purchasing or leasing many of the upcoming railroads in the Schuylkill River Valley and Pennsylvania coal region. This early expansion led to, in 1843, The Philadelphia and Reading Railroad constructing the first double tracked main line in the United States. It also constructed Port Richmond in Philadelphia, to efficiently load coal into ships and barges to be exported. This increased the potential market for anthracite, and was key to the railroad?s success. Port Richmond was the self- proclaimed "largest privately owned railroad tidewater terminal in the world". In 1871, the railroad established a subsidy called The Philadelphia and Reading Coal and Iron Company, that set about buying anthracite coal mines in the region. This vertical expansion gave the railroad almost full control of coal, from mining through to market. The heavy investment in coal paid off quickly, and by 1871, The Philadelphia and Reading Rail Road was the largest company in the world, with $170,000,000 in gross value, and very well may have been the world?s first conglomerate. But the reliance on anthracite would eventually lead to the company's downfall. Instead of broadening its rail network, it invested its vast wealth into anthracite and its transportation. By 1890, the railroad, under the leadership of Archibald A. McLeod, finally saw that in order to remain successful, it was essential to expand its rail network and become a trunk railroad. McLeod went about trying to control neighboring railroads. He was able to gain control of some key lines, but came up short of becoming a trunk road, due to the efforts of people like J.P. Morgan, who was able to fight off more competition in the northeastern railroad business. The Philadelphia and Reading Rail Road was relegated to a regional railroad until it declared bankruptcy in February of 1893. So, there it is. A company that had everything going for it, but did not diversify its assets, and eventually was taken down. But fortunately, we do have this nice sheet of paper money that it has left behind to enjoy. As I always do, I invite any comments to my cell phone number (580) 221-0898, or my personal email address robertgill@cableone.net So, until next time, HAPPY COLLECTING. _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 212 _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 213 To order, please call toll-free: 1-800-546-2995 Online: www.whitman.com Email: customerservice@whitman.com Mention code USPM6 at checkout to receive FREE SHIPPING AVAILABLE NOW A Guide Book of United States Paper Money 6th Edition Includes an engaging history of the paper currency of the United States. Every federal note?from the ultra-rare Demand Motes of 1861 to the lunch money in our wallets today?is described and cataloged in detail, This book combines the hobby-standard Friedberg numbering system with retail values and hundreds of high-resolution, full-color photos. Features more than 20,000 market values, quantities printed, all federal series, plus Fractional Currency, War of 1812 notes, encased postage stamps, error notes, uncut sheets, and more! In Full Color 416 pages 6"x9" Softcover RECEIVE FREE SHIPPING! $24.95 ORDER NOW! The SPMC Bank Note History Project (Part 1) By?Mark?Drengson? Project Overview The Bank Note History Project is sponsored by the Society of Paper Money Collectors as part of its mission to promote the study and appreciation of paper money and related financial history. The purpose of the project is to help organize historical information related to U.S. bank notes issued during the National Bank Note Era (1863-1935) and Obsolete Bank Note Era (1782-1866). The project is focused on two of the primary historical aspects of these ?Hometown? bank notes: The Banks that issued them, and the Bankers who signed them. The Bank Note History Project consists of two online components: The Banks & Bankers Database and the Bank Note History Wiki. The Banks & Bankers Database includes historical data on all 14,348 National Banks that were chartered between 1863 and 1935. It also includes all of the bank Presidents & Cashiers listed in the OCC reports from 1867- 1935, as well as many other potential bank note signers (VPs & Asst Cashiers). Many Obsolete Banks and Bankers from 1782-1866 are also available with more being added over time. A Search web page provides an easy-to-use search interface into the data. Initially, the primary focus will be on the National Banks & Bankers, since we have data available for all of the National Banks. In the future, we will be adding additional data for the Obsolete Banks & Bankers. The Bank Note History Wiki is a public, crowd-sourced website (very similar to Wikipedia) for creating and organizing historical information on the National and Obsolete Banks & Bankers from 1782-1935. The primary content in this wiki is Bank Histories and Banker Biographies for bank note signers. The Banks and Bankers in the Database are linked to these Bank History and Banker Bio pages in the wiki. Introduction In this first article, we will go over in detail how to use the National Bank search procedures in the Banks & Bankers Database, and show you the information available for each bank. We will also give you a brief overview on how to use the Bank Officer Search. In a future article we'll provide an overview of the Bank Note History Wiki, and let you know how you can help us out with content for the Wiki and Database. Login to the Database To search the Banks & Bankers Database, you will need to login to the database from the SPMC website (spmc.org). On the SPMC website home page, login to your SPMC account with the link in the upper right-hand corner. Then go to the Project's home page, either by clicking on the Bank Note History Project link on the home page, or use the Outreach/Bank Note History Project menu option. The Bank Note History Project home page has a brief overview of the project along with links to the Database and Wiki. Click on the Search the Banks & Bankers Database button, and you will automatically be logged into the Database search website. You will then be at the Database Search Home page, which offers you three search options as shown in Figure 1: _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 215 Figure 2. Town Search Results for Gary 1. National Bank Search by Charter Number To use Search by Charter, simply type in the Bank's charter number. Then click on Find Bank and the Bank Information page for that bank will be displayed. 2. National Bank Search by Town or County To use Search by Town or County, type in the Town or County name. Then click on List Banks for this Town or County and a list of the National Banks for that Town or County in All States will be listed (See Figure 2). Click on the Bank Title of the bank you are looking for, and the Bank Information page for that bank will be displayed (See Figures 3 & 4). When you return to the Home page, it will still display the list of banks from your previous Town or County search results, so you can view the other banks. 3. Bank Officer Search To use Bank Officer Search, click on either the link near the bottom of the home page, or the Officer Search button in the upper left corner. See the How to Use Bank Officer Search section below for further information. Figure 1. Database Search Home page _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 216 Bank Information page Information shown on the Bank Information page for each National Bank includes: Official Bank Title(s) with Title change dates. Bank Officer Pairs showing the Cashier-President pairs with years served. This list is helpful for identifying Bankers that have signed a bank note, since this would be the normal pairing of signing officers. It also helps narrow down the year the note was actually issued by the bank. Bank Note Types Issued showing the VanBelkum Issuance Data (Series/Types/Denoms & Serial#s Issued). Bank History Summary based on the VanBelkum/Huntoon data, includes key dates and succession info. Any notations written on the Organization Report or Duplicate Charter in the National Archives are also shown. The Bank History Summary will also include links (if available) to the Bank Note History Wiki for the Bank History page, County Home page, and State Home page. Bank Balance Summaries and OCC Bank Balances By Year (Total Resources & Circulation balances for all years the bank was in business) based on the Pollock data. Figures 3 & 4 show the Bank Information page for Charter 9393, the First National Bank of Gary, SD. Figure 3. Bank Information page - part 1 Figure 4. Bank Information page - part 2 _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 217 Town/County Search Options Bank Search By Town or County has several search options that you can use to control how your search should work. Only list 'Note Issuing Banks' option The Note Issuing Banks Only checkbox controls whether ?No Issue? banks should also be included in the search results. The Note Issuing banks will always be included in the search results, since those are the primary banks we are interested in. But sometimes you may be interested in also seeing the banks that did not issue notes. The default is to have that checkbox checked, which means Town/County searches will include ONLY those banks that issued bank notes, and any No Issue banks will NOT be included in the search results. (Note: No Issue banks will have (No Issue) included in the bank name to indicate that bank did not issue bank notes). Exact and 'Fuzzy' search options The Exact checkbox next to the Town and County search boxes control whether the search routines do an Exact search or a 'Fuzzy' search using the Town (or County) value entered. An Exact search means the results will only include banks with that Exact Town (or County) name. (Note: These searches are Not Case-Sensitive, meaning upper/lower case doesn't matter). A Fuzzy search means the results will include banks that have the search value anywhere in the Town (or County) name. As an example of a Fuzzy search, suppose you are thinking of starting a collection of National Bank Notes with 'Cloud' in the Town name. To find out which National Banks would be included in that collection, you would: * Type 'cloud' in the Town search box. * UnCheck the Exact checkbox next to the Town search box. * Make sure the Note Issuing Banks Only checkbox is Checked (so the search will only include those banks that issued bank notes). * Click on List Banks for this Town or County, and it will return the list of banks shown in Figure 5. As you can see, the search results include banks from towns in various States, all of which include 'cloud' in the Town name. Figure 5. Fuzzy Town Search for 'cloud' _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 218 Multi-Town/County search options You can also include multiple town (or county) names in a Search by Town or County. For example, Pittsburgh, PA had 2 spellings (Pittsburgh & Pittsburg) during its history. Most of their National banks used the Pittsburgh spelling, but 5 banks used the Pittsburg spelling. To include both town spellings in the search results, you would: * Type 'pittsburgh, pittsburg' (separated by a comma) in the Town search box. * Make sure the Exact search option is checked. * Type 'pa' in the State search box, so it will only include Pennsylvania banks. * Make sure the Note Issuing Banks only search option is checked. * Click on List Banks for this Town or County to list the 51 Note Issuing banks with a Town name of either Pittsburgh Or Pittsburg, in the State of Pennsylvania (See Figure 6). NOTE: Notice in Figure 6 how the Town search routine searches All Towns for Multi-Town banks. So, if a bank moved to a different location, or the town name changed (or the town was annexed by a neighboring city as was the case with Allegheny/Pittsburgh), the Town search will still find that bank and include it in the search results for that Town. Bank Search Tips * For Search by Town or County, you must enter a Town or County name, but you can usually just leave State blank, and let it search All States for that Town or County to build the search results bank list. If that list is too long, then you can enter the State for the Bank(s) you are looking for, click on List Banks, and the search results will only include the banks for that State. * Some banks used abbreviations in their town name or bank titles (such as St. for Saint). For some towns with multiple banks, this resulted in both the abbreviation and full word being used on their bank notes. To avoid confusion, and missing banks in the search results, always use the full word instead of the abbreviation for your search value, and the search results will automatically include banks based on both the full word and abbreviation. Three specific examples are automatically handled by the search routines: St./Saint, Mt./Mount and Ft./Fort. Figure 6. Multi-Town search results _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 219 * The Home page and the Bank Search pages were designed so they should work well on most smart phones, however the Bank Officer Search page is not 'phone-friendly', since it displays so much information. So, you're better off using the Bank Officer Search on a device with a larger screen, such as an iPad or desktop computer. How to Use Bank Officer Search To use Bank Officer Search, click on either the link near the bottom of the home page, or the Officer Search button in the upper left corner. The Bank Officer Search page has several search fields and options to help you to search the database for Bank Officer information. Figure 7 shows an example of how to use the Bank Officer Search page, with (highlighted) search values set to find all female bank officers in the state of Minnesota. Bank officers are listed in alphabetical order by last name, with a summary of bank office(s) held, and several links to additional information: The Banker name is a link to the Banker Information page, the Bank title is a link to the Bank Information page, and the Officer Detail link lists OCC officer entries for each year for that bank. If available, links will also show for a Signature scan and the Banker Bio page in the wiki. For further information on using the Bank Officer Search, click on the Overview and User Guide link at the bottom of the search home page. Figure 7. Bank Officer Search page Summary To wrap up, in this article we gave you a brief overview of the SPMC Bank Note History Project, and went through in detail how to use the two Bank Search procedures to find information on National Banks you are interested in. We also gave you a brief overview on how to use the Bank Officer Search page. In a future article, we'll introduce you to the Bank Note History Wiki. For further information on the Banks & Bankers Database, click on the Overview and User Guide link at the bottom of the search home page. For Acknowledgments and data sources see the Acknowledgments link. If you have any questions, please contact me via email at admin@banknotehistory.com.? _____________________________________________________________ Paper Money * May/June 2020 * Whole No. 327___________________________________________ 220 OUR MEMBERS SPECIALIZE IN NATIONAL CURRENCY They also specialize in Large Size Type Notes, Small Size Currency, Obsolete Currency, Colonial and Continental Currency, Fractionals, Error Notes, MPC?s, Confederate Currency, Encased Postage, Stocks and Bonds, Autographs and Documents, World Paper Money . . . and numerous other areas. THE PROFESSIONAL CURRENCY DEALERS ASSOCIATION is the leading organization of OVER 100 DEALERS in Currency, Stocks and Bonds, Fiscal Documents and related paper items. PCDA To be assured of knowledgeable, professional, and ethical dealings when buying or selling currency, look for dealers who proudly display the PCDA emblem. For a FREE copy of the PCDA Membership Directory listing names, addresses and specialties of all members, send your request to: The Professional Currency Dealers Association PCDA ? Hosts the annual National Currency and Coin Convention during March in Rosemont, Illinois. Please visit our Web Site pcda.com for dates and location. ? Encourages public awareness and education regarding the hobby of Paper Money Collecting. ? Sponsors the John Hickman National Currency Exhibit Award each June at the International Paper Money Show, as well as Paper Money classes and scholarships at the A.N.A.?s Summer Seminar series. ? Publishes several ?How to Collect? booklets regarding currency and related paper items. Availability of these booklets can be found in the Membership Directory or on our Web Site. ? 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