Paper Money * Vol. LXIV * No. 1 * Whole No. 355 * Jan/Feb 2025

official journal of Origin & Demise of the Educational Series LEGENDARY COLLECTIONS | LEGENDARY RESULTS | A LEGENDARY AUCTION FIRM Consign Your United States Currency by January 29, 2025! Artesia, California. $5 1902 Red Seal. Fr. 588. The First NB. Charter #8063. PMG Choice About Uncirculated 58 EPQ. Serial Number 1. Brawley, California. $5 1902 Date Back. Fr. 593. The First NB. Charter #9673. PMG Very Fine 30. Livermore, California. $5 1902 Red Seal. Fr. 588. The First NB. Charter #8002. PMG Very Fine 30 EPQ. Serial Number 2. Oakdale, California. $10 1902 Red Seal. Fr. 613. The First NB. Charter #7502. PMG Choice Very Fine 35 EPQ. Serial Number 1. Oakland, California. $20 1875. Fr. 1158. The First National Gold Bank. Charter #2248. PMG Choice Fine 15. Paso Robles, California. $20 1902 Plain Back. Fr. 653. The First NB. Charter #9844. PMG Choice Fine 15. Rodeo, California. $5 1902 Plain Back. Fr. 606. The First NB. Charter #11201. PMG Very Fine 30. San Francisco, California. $100 1882 Brown Back. Fr. 530. The Western NB. Charter #5688. PMG Very Fine 20. San Francisco, California. $5 1902 Red Seal. Fr. 587. The Germania NB. Charter #6592. PMG Very Fine 25. Serial Number 1. San Jose, California. $10 1874. Fr. 1148. The First National Gold Bank. Charter #2158. PMG Very Fine 20. Stockton, California. $20 1875. Fr. 434. The First NB. Charter #2412. PMG Very Fine 25. San Francisco, California. Imperial Government of Norton I. 1870s 50 Cents. PMG Very Fine 25. SBG PM Spring2025 HL 250101 Official Auction of the 2025 Whitman Spring Expo America?s Oldest and Most Accomplished Rare Coin Auctioneer 1550 Scenic Ave., Ste. 150, Costa Mesa, CA 92626 ? 949.253.0916 ? Info@StacksBowers.com 470 Park Ave., New York, NY 10022 ? 212.582.2580 ? NYC@stacksbowers.com Visit Us Online at StacksBowers.com California ? New York ? Boston ? Philadelphia ? New Hampshire ? Oklahoma Sacramento ? Virginia ? Hong Kong ? Copenhagen ? Paris ? Vancouver Contact Our Experts: Peter Treglia: 949.748.4828 ? Michael Moczalla: 949.503.6244 ? Consign@StacksBowers.com Highlights from the Eric Agnew Collection Part II Featured in the Spring 2025 Showcase Auction Auction: March 31-April 4, 2025 ? Costa Mesa, CA a_oM_om            W?????&??????????? ??? ^??????? ?????????>????d?????????????????K???????D????? 32%R[6DQ$QWRQLR7;SLHUUHIULFNH#EX\YLQWDJHPRQH\FRPZZZEX\YLQWDJHPRQH\FRP $QGPDQ\PRUH&6$8QLRQDQG2EVROHWH%DQN1RWHV IRU VDOH UDQJLQJ IURPWRILYHILJXUHV 6 Origin & Demise of Educational Silver Certificates--Peter Huntoon 22 En trepreneurial Holt Family--Bill Gunther 28 Origin of Fr. 1192a--Peter Huntoon 33 Try This Over Your Piano--Terry Bryan 38 Inverted/Mirrored Plate Numbers on Fractional Currency Sheets--Rick Melamed 50 Fargo--Bob Laub 61 2024 Paper Money Index SPMC.org * Paper Money * Jan/Feb 2025 * Whole Number 355 1 Columns Advertisers SPMC Hall of Fame The SPMC Hall of Fame recognizes and honors those individuals who have made a lasting contribution to the society over the span of many years.? Charles Affleck Walter Allan Mark Anderson Doug Ball Hank BieciukJoseph BolingF.C.C. Boyd Michael Crabb Forrest DanielMartin DelgerWilliam DonlonRoger Durand C. John Ferreri Milt Friedberg Robert Friedberg Len Glazer Nathan Gold Nathan Goldstein James Haxby John Herzog Gene Hessler John Hickman William Higgins Ruth Hill Peter Huntoon Brent Hughes Glenn Jackson Don Kelly Lyn Knight Chet Krause Allen Mincho Clifford Mishler Barbara Mueller Judith Murphy Dean Oakes Chuck O'Donnell Roy Pennell Albert Pick Fred Reed Matt Rothert John Rowe III From Your President Editor Sez New Members Uncoupled Chump Change Obsolete Corner Cherry Picker Corner Small Notes Quartermaster Robert Vandevender 3 Benny Bolin 4 Frank Clark 5 Joe Boling & Fred Schwan 44 Loren Gatch 47 Robert Gill 48 Robert Calderman 52 Jamie Yakes 54 Michael McNeil 56 Stacks Bowers Galleries IFC Pierre Fricke 1 Whatnot 21 World Banknote Auctions 27 PCGS-C 32 Fred Bart 36 Lyn Knight 37 FCCB 43 Greysheet 46 Higgins Museum 48 Bob Laub 51 Bill Litt 56 Whitman Publishing 60 PCDA IBC Heritage Auctions OBC Fred Schwan Neil Shafer Herb& Martha Schingoethe Austin Sheheen, Jr. Hugh Shull Glenn Smedley Raphael Thian Daniel Valentine Louis Van Belkum George Wait D.C. Wismer SPMC.org * Paper Money * Jan/Feb 2025 * Whole Number 355 2 Officers & Appointees ELECTED OFFICERS PRESIDENT Robert Vandevender II rvpaperman@aol.com VICE-PRES/SEC'Y Robert Calderman gacoins@earthlink.net TREASURER Robert Moon robertmoon@aol.com BOARD OF GOVERNORS APPOINTEES PUBLISHER-EDITOR smcbb@sbcglobal.net ADVERTISING MANAGER Benny Bolin smcbb@sbcglobal.net Megan Reginnitter mreginnitter@iowafirm.com LIBRARIAN Jeff Brueggeman MEMBERSHIP DIRECTOR Frank Clark frank_clark@yahoo.com IMMEDIATE PAST PRESIDENT Shawn Hewitt WISMER BOOk PROJECT COORDINATOR Pierre Fricke From Your President Robert Vandevender II 2IILFHUV $SSRLQWHHV (/(&7('2)),&(56 35(6,'(17?6KDZQ+HZLWW VKDZQ#VKDZQKHZLWWFRP 9,&(35(6,'(17? 5 EHUW9DQGHYHQGHU,, UYSDSHUPDQ#DROFRP 6(&5(7$5