Please sign up as a member or login to view and search this journal.
Table of Contents
VOL. XXXII No. 5
WHOLE No. 167
WELCOME MADAM PRESIDENT
; : e • • • ,
V'. 3
4 , 11,11111 , 1CS TIIAT -
MEM: 11,, !tr. ,: 1,,,rgo IN TOE
l'Itt,I.S111()"
°°"13ZeGaar:iiaTIN IE .
*1[11UTEDSterFS ChrAillER/Cli.71 1
:4 ... .... ...,00/ 1-12.r.tvile _, 1AI -
4192964:711:- '
-TAWI•72=
/1
Jr!,
Do You Collect Paper Money
or
Stocks & Bonds?
********* - -t********;;;;;********4***-7;**
R.M. Smythe & Co. Auctions
reach the most important collectors &
dealers in U.S. & International Currency,
Coins, Stocks & Bonds, Autographs, Ex-
onumia & related material. Call today or
send for our free color brochure describing
the wide range of specialized and personal
services we offer.
BUYING ALL U.S.
PAPER MONEY &
STOCKS AND BONDS
CALL OR WRITE
For Our Latest Price List
Of Stocks & Bonds!
**********************************
BUYING
■ Obsolete, Confederate, Colonial and Federal
Currency
■ Antique Stock & Bond Certificates
■ Rare Autographs
We will purchase your material outright i fyou
desire. Call or write today.
R. M. SMYTH E
26 Broadway
Suite 271
New York, NY 10004-1701
EBTABLI[NO E
lft4"1"
TOLL FREE 800-622-1880
NY 212-943-1880
FAX: 212-908-4047
Pcda
4:Ait)44,1,
MEMBER
SOC I ET Y
OF
PAPER NIONEY
COLLEC"FORS
Paper Money Whole No. 167
PAPER MONEY is published every other
month beginning in January by The Society
of Paper Money Collectors. Second class
postage paid at Dover, DE 19901. Postmaster
send address changes to: Bob Cochran,
Secretary, P.O. Box 1085, Florissant, MO
63031.
© Society of Paper Money Collectors, Inc.,
1993. All rights reserved. Reproduction of
any article, in whole or in part, without ex-
press written permission, is prohibited.
Individual copies of this issue of PAPER
MONEY are available from the Secretary for
$2.75 each plus $1 postage. Five or more
copies are sent postage free.
ADVERTISING RATES
SPACE
Outside
1 TIME 3 TIMES 6 TIMES
Back Cover $152 $420 $825
Inside Front &
Back Cover $145 $405 $798
Full Page $140 $395 $775
Half-page $75 $200 $390
Quarter-page $38 $105 $198
Eighth-page $20 $55 $105
To keep rates at a minimum, advertising must be
prepaid in advance according to the above sched-
ule. In exceptional cases where special artwork or
extra typing are required, the advertiser will be no-
tified and billed extra for them accordingly.
Rates are not commissionable. Proofs are not
supplied.
Deadline: Copy must be in the editorial office no
later than the 1st of the month preceding issue
(e.g., Feb. 1 for March/April issue). With advance
notice, camera-ready copy will be accepted up to
three weeks later.
Mechanical Requirements: Full page 42-57 picas;
half-page may be either vertical or horizontal in
format. Single column width, 20 picas. Halftones
acceptable, but not mats or stereos. Page position
may be requested but cannot be guaranteed.
Advertising copy shall be restricted to paper cur-
rency and allied numismatic material and publi-
cations and accessories related thereto. SPMC does
not guarantee advertisements but accepts copy in
good faith, reserving the right to reject objection-
able material or edit any copy.
SPMC assumes no financial responsibility for
typographical errors in advertisements, but agrees
to reprint that portion of an advertisement in
which typographical error should occur upon
prompt notification of such error.
\swiv
el.All advertising copy and correspondence should
be sent to the Editor.
Official Bimonthly Publication of
The Society of Paper Money Collectors, Inc.
Vol. XXXI I No. 5 Whole No. 167 SEPT/OC1 1993
ISSN 0031-1162
GENE HESSLER, Editor
P.O. Box 8147
St. Louis, MO 63156
Manuscripts, not under consideration elsewhere, and publications
for review should be addressed to the Editor. Opinions expressed
by the authors are their own and do not necessarily reflect those of
the SPMC or its staff. PAPER MONEY reserves the right to reject any
copy. Manuscripts that are accepted will be published as soon as pos-
sible. However, publication in a specific issue cannot be guaranteed.
IN THIS ISSUE
BROWN BACKS: A CHEAP AND OPEN DESIGN
Peter Huntoon
147
THE BUCK STARTS HERE: A PRIMER FOR COLLECTORS
Gene Hessler 148
SOME COUNTERFEITS OF THE CLIPPER SHIP AND
SAILOR CONFEDERATE NOTE
Brent Hughes
149
HOW TO DISPLAY YOUR PRECIOUS NOTES
Raphael Ellenbogen 153
THE FIRST AND LAST POSTAL NOTES 1883-1894
Charles Surasky 154
CHARLES SCHLECHTS MINERVA
Gene Hessler 158
THE "SPURISCOPE"
Bob Cochran 160
SYNGRAPHIC VIGNETTES
Robert Lloyd 165
BANK HAPPENINGS
Bob Cochran 165
SOCIETY FEATURES
NOTES FROM ALL OVER 166
MEET YOUR CHARTER MEMBERS
166
NEW LITERATURE 167
AWARDS AT MEMPHIS
169
AWARD WINNERS AT ANA 169
IN MEMORIAM 169
NEW MEMBERS 170
MONEY MART 170
ON THE COVER: See page 166 for President Judith Murphy's first message to the
Society.
Inquiries concerning non-delivery of PAPER MONEY and for additional copies
of this issue contact the Secretary; the address is on the next page.
Page 145
SOCIETY OF PAPER MONEY COLLECTORS
OFFICERS
PRESIDENT
JUDITH MURPHY, P.O. Box 24056, Winston Salem, NC 27114
VICE-PRESIDENT
DEAN OAKES, Drawer 1456, Iowa City, IA 52240
SECRETARY
ROBERT COCHRAN, P.O. Box 1085, Florissant, MO 63031
TREASURER
TIM KYZIVAT, P.O. Box 803, LaGrange, IL 60525
APPOINTEES
EDITOR GENE HESSLER, P.O. Box 8147,
St. Louis, MO 63156
MEMBERSHIP DIRECTOR
RON HORSTMAN, Box 2999, Leslie, MO 63056
WISMER BOOK PROJECT
STEVEN K. WHITFIELD, 14092 W. 115th St., Olathe, KS 66062
LEGAL COUNSEL
ROBERT I. GALIETTE, 10 Wilcox Lane, Avon, Cl' 06001
LIBRARIAN
WALTER FORTNER, P.O. Box 152, Terre Haute, IN 47808-0152
For information about borrowing books, write to the Librarian.
PAST-PRESIDENT
AUSTIN M. SHEHEEN Jr., P.O. Box 428, Camden, SC 29020
BOARD OF GOVERNORS
FRANK CLARK„ P.O. Box 117060, Carrollton, TX 75011
CHARLES COLVER, 611 N. Banna Avenue, Covina, CA 91724
MICHAEL CRABB, Jr., P.O. Box 17871, Memphis, TN 38187-0871
C. JOHN FERRERI, P.O. Box 33, Storrs, CT 06268
MILTON R. FRIEDBERG, Suite 203, 30799 Pinetree Rd., Cleve-
land, OH 44124
GENE HESSLER, P.O. Box 8147, St. Louis, MO 63156
RON HORSTMAN, Box 2999, Leslie, MO 63056
JOHN JACKSON, P.O. Box 4629, Warren, NJ 07059
ROBERT R. MOON, P.O. Box 81, Kinderhook, NY 12106
WILLIAM F. MROSS, P.O. Box 21, Racine, WI 53401
STEPHEN TAYLOR, 70 West View Avenue, Dover, DE 19901
WENDELL W. WOLKA, P.O. Box 569, Dublin, OH 43017
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 American Numismatic Association. The annual
meeting is held at the Memphis IPMS in June.
MEMBERSHIP—REGULAR and LIFE. Applicants must be
at least 18 years of age and of good moral character. JUN-
IOR. Applicants must be from 12 to 18 years of age and of
good moral character. Their application must be signed by
a parent or guardian. They will be preceded by the letter "j".
This letter will be removed upon notification to the secre-
tary that the member has reached 18 years of age. Junior
members are not eligible to hold office or vote.
Members of the ANA or other recognized numismatic so-
cieties are eligible for membership. Other applicants should
be sponsored by an SMPC member or provide suitable
references.
DUES—Annual dues are $20. Members in Canada and Mex-
ico should add $5 to cover additional postage; members
throughout the rest of the world add $10. Life membership,
payable in installments within one year, is $300. Members
who join the Society prior to Oct. 1st receive the magazines
already issued in the year in which they join. Members who
join after Oct. 1st will have their dues paid through Decem-
ber of the following year. They will also receive, as a bonus,
a copy of the magazine issued in November of the year in
which they joined.
BUYING / SELLING • OBSOLETE EECURRENCY, NATIONALSUNCUT SH TS, PROOFS, S RIP
BARRY WEXLER, Pres. Member: SPMC, PCDA, ANA, FUN, GENA, ASCC
(914) 352-9077
•
-17U INC.
P.O. BOX 84 • NANUET, N.Y 10954
Page 146 Paper Money Whole No. 167
Paper Money Whole No. 167 Page 147
BROWN BACKS
A Cheap and Open Design
by PETER HUNTOON
You are probably quite proud of that Series of 1882 brown back that
you just spent too much of your hard earned money to hoard away.
Here is a most interesting perspective from the past from a person very
close to the situation.
January 11, 1888
Hon. W. L. Trenholm
Comptroller of the Currency
Sir:
I duly received your letter of the 10th ultimo requesting me
to furnish you with the information which will enable you to
lay before Congress an estimate of the cost of preparing new
plates and currency of the series of 1882 for 796 national bank
which are still entitled to receive notes of the series of 1875, and
stating that to print a fresh supply of currency for them about
300,000 sheets of paper will be required, and also your letter of
the 20th ultimo in which you state that you think it will be safe
to make my estimate for 1,149 new plates for these banks, and
that the estimate for the cost of these plates and 300,000 sheets
of paper and the printing of the same will be in addition to the
estimates for plates and printing submitted to Congress by me
for the current needs of the next fiscal year.
In reply I beg to say that a careful calculation shows that the
cost of preparing the additional number of face plates and of
printing the additional number of sheets of national currency
of the series of 1882 mentioned by you will be $42,579.60,
which should be distributed among the three appropriations
for the support of this Bureau as follows:
Compensation of employees $26,329.10
Plate printing 5,250.50
Materials and miscellaneous expenses 11,000.00
I beg to say, however, that if any steps are to be taken in the
direction of making notes of all the national banks uniform in
design, the most desirable course, in my opinion, will be to dis-
card the brown backs of the series of 1882, and to replace them
with backs of the design used on the series of 1875. The backs
of the series of 1875 are printed in two colors, and consist of a
green border of lathe-work and ornamental work, embracing
denominational counters and the legend, and of an engraving
of some appropriate subject from American history beautifully
engraved and printed in black. The two colors afford a pleasing
contrast, while the two printings and the quality of the work
furnish excellent protection against counterfeiting. In the
backs of the series of 1882 the old borders have been retained,
but the beautiful black vignettes have been dropped, and the
space formerly occupied by them has been filled in with geo-
metric lathe-work of a cheap and open design. This lathe-work
affords little protection against counterfeiting, inasmuch as it
is cut directly on the bed-piece so as to print the dark lines,
while, in order to insure the best protection from this class of
work, it should be reverse, so as to show the white lines. These
backs are printed in brown ink, and over the lathe-work
covering the center of the plate the charter number of the bank
is printed in green ink from brass dies on an ordinary power
press. The combination of the two printings is ugly in the ex-
treme. It does not furnish adequate security against counter-
feiting, and it is greatly inferior to the backs of the series of 1875
which it replaced. I therefore earnestly urge that, if the neces-
sary appropriation can be obtained, the two plate printings of
the old design be restored. If necessary, in order to distinguish
the backs of the notes issued under this proposition from those
of the series of 1875, the color of the border may be changed
from green to some other appropriate color. To carry into affect
this suggestion would require for the next fiscal year an ap-
propriation of $12,000 additional to that for which an estimate
is submitted above, making a total appropriation of
$54,579.60, distributed under the following heads:
Compensation of employees $26,329.10
Plate printing 14,650.50
Materials and miscellaneous expenses 13,600.00
Page 148
Paper Money Whole No. 167
The appropriation of this amount, in addition to that for
which estimates have already been submitted to Congress,
would not only provide for the additional plates and printing
required to carry into effect your recommendation for doing
away with the distinction between the notes of the series of
1875 and those of the series of 1882, but would enable the Bu-
reau to place two printings upon the backs of all national bank
notes printed after the first of July next.
I suggest, also, that whether or not any other change be made
in the printing of the backs of the national currency, the coats-
of-arms of the several states and territories be omitted, and
replaced with a design uniform for all notes of the same
denomination, no matter where the bank by which they are to
be issued may be situated. The retention of these coats-of-arms
requires the preparation of separate back plates for each
denomination, or combination of denominations, for each
state and territory in which there is a national bank; the
keeping on hand of a stock of backs printed from each of these
plates, and the keeping of the accounts necessary to show the
state of these several stocks, without any compensation advan-
tage to the banks or to the public.
Respectfully yours,
Edward 0. Graves
Chief of Bureau
SOURCE OF LETTER:
Bureau of Engraving and Printing, various dates, Correspondence to and
from the Bureau of Engraving and Printing: U. S. National Archives,
Washington, DC. ■
The
Starts Here
A Primer for Collectors
by GENE HESSLER
C OLONIAL currency as a collecting topic was discussedin a previous issue of this journal; two notes fromMaryland were mentioned. You probably already
know that this first paper money experiment in early America
ended in disaster. Due to inflation that accompanied and fol-
lowed the American Revolution, colonial and Continental cur-
rency ultimately was worth a fraction of the original amount;
most of it became worthless.
A second paper money experiment took place in the 19th
century with roots that began in the end of the 18th century.
Many of these note-issuing banks failed or, in order to retain
their privilege to issue notes, joined the National Banking
System in 1863. By 1866 this colorful period that created over
3,000 banks, which produced 30,000 or more varieties of notes,
came to an end.
We generally call bank notes and merchant scrip from this
period obsolete notes, or broken bank notes, since many of
these banks went broke. However, the results of this disaster
has presented the collector with thousands of collecting possi-
bilities. True, many of these notes are rare and might cost
hundreds of dollars. However, coins of equal rarity would com-
mand thousands of dollars.
From these notes you are only limited by your imagination
as to what and how you want to collect. Again, before you col-
lect, take a look at the Standard Catalog of United States Obsolete
Bank Notes 1782-1866, by James A. Haxby. This four-volume
work is expensive, about $200. However, you can suggest that
your local library purchase it.
If you are interested in one state only, you could purchase
one of the books published by the Society of Paper Money Col-
lectors. The number of states covered thus far is approaching
25. These books are now being sold by Classic Coins, P.O. Box
95, Allen, MI 49227.
Introductory booklets, Collecting U.S. Obsolete Currency and
The Wonderful World of Paper Money are available for $2 each
from the Professional Currency Dealers Association, P.O. Box
573, Milwaukee, WI 53201. These 32- and 48-page booklets will
give you plenty of ideas about collecting bank notes, including
notes with topical subjects: Indians, trains, horses, ships, etc.
Obsolete bank notes are collectible from 34 states. In the
first column of this series two colonial notes from Maryland
were mentioned. If you wanted to add to a Maryland collec-
tion, consider notes issued by the Allegany County Bank. Some
$1, $2, $5 and $10 notes, in excellent condition, will cost less
than $25, half that amount if you are not particular about con-
dition.
The $2 note has an engraving of The Calmady Children by Sir
Thomas Lawrence (1769-1830). This is just one example of
many paintings that have been engraved for use on paper
money. Joseph P. Ourdan is credited with this engraving. This
same engraving appears on at least 17 other obsolete bank
notes: a separate collecting challenge. Another inexpensive
note that includes The Calmady Children in the design is the $3
note from the Beverly Bank in New Jersey. (See "The Calmady
Children" by David Ray Arnold, Jr. in the Nov./Dec. 1988 issue
of PAPER MONEY)
(Continued on page 157)
Paper Money Whole No. 167 Page 149
Some Counterfeits of the
CLIPPER SHIP AND SAILOR
CONFEDERATE NOTE
by BRENT HUGHES
A collector could spend a lifetime trying to find all of the
more than two hundred varieties of the Criswell Type 18
$20 Confederate note. At this late date he would be un-
likely to succeed.
William West Bradbeer did a remarkable job in listing
these varieties in his book Confederate and Southern State
Currency (1915) which was carried forward into Criswell's
Currency Series Volume 1 by the Criswell brothers Grover
and Clarence in 1957.
H
OYER & Ludwig of Richmond, Virginia and J.T.
Paterson of Columbia, SC printed a total of 2,366,486
of the Type 18 note in 1861 and 1862. This enormous
issue was encouraged by a desperate Treasury Department
trying to get a medium of exchange into the hands of the
people. It is unfortunate that such a quantity was produced be-
cause the note has little artistic merit. The clipper ship and the
sailor at capstan are old vignettes with no particular sig-
nificance to the Confederacy. Charles Ludwig had them on
hand and simply inserted them into the same layout of let-
tering that he used for his Type 13 $100, Type 14 $50 and, with
minor changes, on his Type 17 $20 note. In this way he was
able to produce more notes in less time and enhance his
profits.
As might be expected, a lot of mistakes were made in this
outpouring, including misspelled worlds, inverted letters and
missing flourishes. Most varieties were created by the great
number of plate letters and plate letter-number combinations
that were required to keep the serial numbers as low as pos-
sible. A modern counterpart of this system is the one used by
some states for automobile license plates.
Compounding the problems of printing this note was a mili-
tary crisis in Richmond. Union forces were getting too close to
the Confederate capital in early 1862 and nervous Treasury
officials decided to move the currency production facilities to
Columbia, SC. Secretary Memminger was astounded when he
found that Hoyer & Ludwig had no intentions of leaving Rich-
mond. Memminger was so angry that he vowed never to give
Ludwig "another dime's worth of work" Hoyer & Ludwig sold
their Confederate government contracts to a Richmond jeweler
named J.T. Paterson who moved to Columbia and continued
production of Type 18. He added sixteen varieties of his own to
Ludwig's vast number. Incidentally, Secretary Memminger
cooled off later and continued to employer Hoyer & Ludwig on
various projects until March 1865, but he tried to keep it quiet.
With Type 18 notes all over the South it was inevitable that
counterfeiters would race to get their copies made. They did a
superb job, using the same lithographic stones that the govern-
ment contractors were using. Their products are still around
today and can be detected only by tiny flaws that I will point
out in the illustrations with this article.
One exception was a crude woodcut apparently made by a
Northern newspaper which wanted to publish a rebel note as
a souvenir for its readers. To accommodate its printing press,
the newspaper had to convert the woodcut to an electrotype
plate which became worthless after the newspaper was printed.
The publisher would obviously be pleased if someone dropped
by the next day offering to buy the plate. With the plate in his
possession, a counterfeiter could go to his local print shop and
order as many copies as he wanted. Some printers took no
chances on being arrested, so they added an inscription to one
of the margins of the note stating that it was a "facsimile rebel
note," knowing full well that a dishonest person could simply
trim the inscription off with scissors.
Although the crude woodcut should have fooled no one, we
know that it did because we find well-circulated "facsimiles"
floating around even today. Some of the copies with inscrip-
tion intact are also around today, much to the delight of col-
lectors who treasure them.
The lithographed counterfeits have one thing in common—
they are all very well done. In fact the workmanship is so good
that some of them must have been made in England or Scot-
land. The paper is excellent and the impressions are precise. It
is not unusual today to see these notes being sold as genuine.
The seller simply can't tell the difference. When I find such
notes I buy them if I need them for my collection because the
counterfeits are much scarcer than the genuine.
Phillip Chase, in his book Confederate Treasury Notes (1947),
and in subsequent articles in The Numismatist, described some
of the Type 18 counterfeits. I now understand why he had
difficulty, because the flaws in Type 18 copies are obscure. I
hope to make things easier by providing a detailed word
description of the genuine note, emphasizing those features
that counterfeiters had trouble with. These involve rigging lines
and hull contours of the clipper ship plus facial features and
clothing items of the sailor.
• //:r. &%/didt/A /X4' "----
(/e/ 4-' ik. '4'. IFIV)/// (A' ( AtY1/7'
/,'P,) ,, A.
..- i (i''' VOW!' % -i-7/K'
Wig' ∎ . /... a( , ///,,(4i?'
42,,,,„,,,
- -----7--
----„---
7404
/E7 (31
'4/742
Criswell Type 18—$20, September 2, 1861 issue. Clipper ship at center; sailor leaning on capstan at left; ornate "20" and 'XX" value
medallion at right end. Printer's legend at bottom center—Hoyer & Ludwig or I.T. Paterson.
THE GENUINE NOTE
The ship has a full complement of sails with many rigging lines. There are two flags or pennants on the top of
the foremast and one flag on the top of the mainmast. The deck line is curved and the hull is rendered in a closely
spaced group of lines making it appear almost black. The waves are choppy and another ship can be seen astern.
The sailor wears an unusual hat, has long hair and a full beard. His eye and lips are distinct. His left elbow
rests on the capstan with his left hand raised as if pointing at the ship vignette at center. His right hand and
forearm are resting on the capstan. His left foot rests on the base of the capstan while his right foot is on the deck.
Behind him is a large wooden barrel in front of which is a bale of cotton. The end of the bale has what appears
to be the letter "L" or the letters "LB", but these vary between stones and may be missing on some genuine notes.
The value medallion at right has "XX" in which the bottom serifs are separated by a vertical line. In one variety
this "XX" is inverted.
The signatures are written, of course, in brown ink and the serial numbers are written in bright red ink. Some
varieties have flourishes between "CONFEDERATE" and "STATES" at top center; others have no flourishes. The
shading under the large lettering varies and should not be considered as an indication of spuriousness if it is light
or dark.
The paper used for these notes is of low to medium quality; some has an oily look about it. In many cases
the paper used for the counterfeits is superior to the genuine, making me believe they were made in England
where many fine paper mills existed.
Page 150 Paper Money Whole No. 167
COUNTERFEIT NOTES
This counterfeit was printed with an electrotype plate made directly from a woodcut. It is printed on excellent
paper and is found with the "Fac-Simile Confederate Note inscription on a wide left margin or trimmed closely
all around. The signatures of E.H. Smith for Register and John Ott for Treasurer were copied from a genuine note
c.://,/: /4.■//7/:ei0,2' /,...
''' ---::-
(14-44 .c0 ,Ac /'110 -9(//t/10
ey,41,(-4erAyxuarr
eaCEPT
eld r4inms gie,w/eek/, A....,
%);,,;‘,.." /'--,--,--- -
,
iinewie,Y9/
".rills
4..ahrt.
141:"34‘i-
TWENTY DOLLARS
4i1Z—eva la,
4,,VA'A,11.41LA
0'04/..4;a1(416 PAIIANT
,(21e AL'iouis /k /int/
Exckpi: )
22//-7
TWENTY DOLLARS
Itrcialro2vD,Ta,./
Paper Money Whole No. 167 Page 151
with plate letter/number A25 and a serial number somewhere between 20901 and 46800, according to the Thian
Register. This note has a blank space for the serial number which could be written in if desired. This particular
copy may appear with a printed serial number or even with written signatures and serial number. It was easy to
remove data from an electrotype with a small chisel.
Obvious flaws are the straight deck line on the ship at center, lower waves, one flag on the foremast, heavy
shading lines and rigging and the typical crudeness inherent in woodcuts.
This is an excellent lithograph which is a quarter-inch wider vertically than the genuine note. The signatures are
unusual in that they are totally fictitious. No "David E. Brown" or "Samuel Wilson" was ever employed by the Con-
federate government to sign notes. The brown ink used looks good, as does the red ink used for the written serial
numbers.
The plate letters "B" look odd, as if they were put in after printing with a rubber stamp. No "B19" combination
is listed as a variety in the genuine note list.
Phillip Chase had one of these notes with fictitious signatures "S. White" and "James Scott" so the note may
exist with any number of fake signatures. Perhaps a counterfeiter with a strange sense of humor created notes with
signatures of all his friends (or enemies).
The major flaw in this note is found in the face of the sailor which is too plain and without a lip line. The
left hand is too wide and too light.
There are differences in the shading along the top parts of the mainsails which are obvious when compared
to the genuine note.
The most obvious flaw in this counterfeit is the joined "XX" at lower right in which the tiny dividing line on the
bottom serifs is absent. The deck line on the ship is straight rather than curved as on the genuine note and the
wave caps are indistinct.
There seem to be far too may flourishes under the words "CONFEDERATE" and "STATES" and the six flour-
ishes to the left of "AMERICA" are too much alike. The sailor's face is too dark, almost obscuring the beard, and
the top of the cotton bale is also too dark. There is a white gap in the shading next to the capstan above the
cotton bale.
/eeitwi,
''1•4tilf1.1>r
Page 152
Paper Money Whole No. 167
The written signatures of R. Hill, Jr. and R.M. Payne were carefully traced from a genuine note, but the written
serial number 75199 is too high. The Thian Register indicates that the genuine note with plate letter/number A26
and serial number 75199 was signed by E.H. Smith and T.C. Gale. Hill and Payne signed genuine notes with serial
numbers from 70901 to 71100 in the 70,000-80,000 group. We can assume therefore that the counterfeiter incor-
rectly believed that Hill and Payne had signed the entire 10,000 notes.
— -----
. 4 L 0,, Ot
G i (i). ft, .r 'At!.
"?/, ,. i
: 74..l', //(://///../ (01%'? /‘//' ";.-5- 7 1/f//(74/(r/e.7 f:171'.2:„
4 —4- ,///
/k,
a i/i/
..-
il
I
i
: *.rt„'0%.',147. ,. ,/ir'
17; A:,A,.. - Y:1-IEIVT
1 Pi It 1.'.. b l'. -6I Fara'? r
■ 44,;17. ,, 4,
..
.
s0 1.
..."- 4,
(/ f///(7/i t, -,e, , v3,- - --,/ ., , . . /(,/,,, ,,,?2,,. _
//,./0, ,,/,?,th, ..-,9,7//L,I ' ' ' , 3,.....
' ///C /bah/ 1,7 ,:f ,,.. 7;10.4%/1 N
,,---..- ..._. ,../e- - _ ...- NOZP
-0 Ps.,- - \
. ---. --,, '''' W... ,.■ ..a. N
:7 ---"."- ''.'. % ' •
----,,
....■
-.......„- '
/ --'---
, 0
''1' , .---_._2,____
/I // .— —7 7 —
---
/ 4(11/ TWENTY DOLLARS fr' hY77(
..
4..,
.
.
...
e.: '
\
L A,
,
"115"V)/(44” 4,
> k:4,':,..4.,
.1
1 /7 ill C 1 1 itOND,faejiy, 't" f-',/ I ftA• 7 g MO I
(17/1-
i:. -
' '//,."../.- ACIMAIV....,..
Far Slircitr— Rebel....1dA,
This is an outstanding counterfeit except that the signatures were printed. The maker added e words "Fac Simile
Rebel Note" to the wide bottom margin from which it could and was easily trimmed off. The serial number space
was left blank.
Philip Chase lists this note as his #C2-131 and says that it is also found with written signatures. Chase points
out flaws as the two rigging lines from foremast to bow being too heavy and the deck house being aft of the
foremast.
There is a different eye and lip rendering and a definite ear on the sailor and the shading on the barrel is
too light.
This counterfeit was printed on excellent paper with a hard surface which produced very fine lines
throughout. The rendering of the sailor is outstanding with lines actually finer than on the genuine note.
This is the Chase #C2 -131 counterfeit from which the margin inscription "Fac Simile Rebel Note" was trimmed and
someone entered the serial number 73,303 in red ink. The note was then passed into circulation as genuine and
circulated for some time before being detected. The word "Counterfeit" was then written vertically on both sides
of the ship vignette in brown ink, apparently by an alert bank teller.
Few records were kept in the shadowy world of the counterfeiter, so we know almost nothing about the
people who did the engraving and printing of the notes, how many they made and if they passed them themselves
or hired others to do it. What did they buy and from whom? If the notes could talk we could get some interesting
answers, but as it is, we can only examine our notes and imagine what it was like in the hectic days of the Civil War.
Sources
Chase, Philip H. (1947). Confederate Treasury Notes, Philadelphia. Chase, Philip H., various articles in The Numismatist.
liartomaii7.46r-
.0. 1 ,11 ti'i'1Tj .
IS11.01.0101% •
Paper Money Whole No. 167 Page 153
110W TO DISPLAY
YOUR PRECIOUS NOTES
by RAPHAEL ELLENBOGEN
(leaving a margin) and assemble them
on a table, in the order of your display.
Purchase a frame of the size re-
quired. The author's frame measures
20" x30". They have plastic glass, or
cardboard backs and clip-on metal
frames. An art store will provide a
heavy paper backing in your color and
size. You can place descriptions below
appropriately positioned notes, held in
place by postage stamp hinges. It cer-
tainly will draw many comments from
your delighted friends, as your "collec-
tion" adorns the walls of your syn-
graphic den. ■
UNITED STATE:,
cNCY THE BUFF . PRINTING
RUREAU OF EN
V al)
111111ntlIC tr1/1/1
%maw. Mtn*, 4."`"
T
HERE is the inherent pride of
the "syngraphist" in his or her
collection which demands a
permanent display of these treasures.
Of course that is not practical or advis-
able, because of security reasons and
the eventual discoloration and deterio-
ration of valuable notes. There is, how-
ever, a method of displaying
magnificent large-size notes in their
original full color intaglio printing at
very low cost and no risk.
Secure "duplicate" Souvenir Cards
(issued by the Bureau of Engraving and
Printing) bearing your favorite notes
(in intaglio from the original master
dies). Carefully cut out the bills
allgrattlkStalfriki
Fa,
I ot310.,10.0,,,, 3
1=523:=10
ar.11■1714.13
Stir t-1011,11.1 kr,6egcn Collettton
E4 ;AMIDSTxrai-Krimut is,r4Lar)!:.!4k onr.a.mitnertm6.,..
_ 2 NV&
rzt),,,,,,;...46 5 It i aireae
For Less than Five Millers. Payable in the United States nnly .
4
4.0HR)11)114):
.._■..2.1LN)17..WMPN - ° :"‘ (04bit")(0 1)1 '
WILL PAY TO BEARER within It from the l,,st
tiny of the intintis of issue
I) Vents.
If lostortlestroyell no cittplieat,
ihteeh-ed the, above amount.
I II
cx 3ur i`SSTA
Paper Money Whole No. 167Page 154
The First and Last
Postal Notes 1883-1894
by CHARLES SURASKY
Collectors of postal notes are especially focused on the
dates of issue. They're important, among many reasons,
because they provide clues to two unanswered ques-
tions: when were the first notes—and when were the last
notes—of each type issued?
We know the first date of issue for the series: Sep-
tember 3, 1883. We also know the final date of issue for
the series: June 30, 1894. Now we need to identify five
more "first" dates and five more "last" dates. That leaves
plenty of work unfinished for postal note enthusiasts.
Perhaps one day a dedicated and energetic researcher
will uncover the official "first" and "last" dates for each
type and the postal note information puzzle will be
more complete. But to modern collectors who specialize
in these 19th century collectibles, identifying the earliest
known and the latest known notes of each type remains
a compelling project.
A BRIEF HISTORY
F EWER than 1,000 postal notes have survived. Most col-lectors have never seen one and know little, if anything,about this series. For collectors unfamiliar with these
notes, here is a thumbnail introduction:
Postal notes were special money orders sold in U.S. post
offices from 1883 to 1894. The direct descendants of our Civil
War-era fractional currency, they were introduced to be an in-
expensive, safe way to send less than five dollars through the
mail. Three banknote companies produced them: Homer Lee,
American, and Dunlap & Clarke. Two different paper stocks,
yellow and creamy white, were employed. They were produced
in two sizes and in six significant types.
Most postal note collectors start with a type I or a type V
note, then locate the other note needed for a "first and last" set.
The next step is to work on a six-note type set. Advanced col-
lectors build 12-note year sets or other specialized collections
as they acquire additional notes.
For more information on the postal notes of 1883-1894,
consult the publications in the additional sources section at
the end of this article.
To share the initial results of my research, and to ask for your
input, I have compiled a trial listing of the earliest and latest
notes of each type. If you own a note you believe will replace
one listed in this chart, please forward a photocopy of its face
and back.
A THEORY EXAMINED
Postal note collectors recognize six "types"' of notes, meaning
the "old" design was changed five times. The first type became
Four months before the Columbian Commemorative half-dollar was authorized by Congress, a 10 cent
postal note was issued in New York's Station I. Its chances of surviving a full year, let alone 100 years,
were tiny. But note number 6,904, issued on April 19, 1892 at the corner of 8th Avenue and West 123rd
Street, somehow survived. Postal note collectors believe it is the earliest known type V note.
BY WHOMSOEVER PRESENTED.
WILL BE WORTHLESS IN THE
HANDS OF?INY SUBSEQUENT
H LDER IF NOT PAID WITHIN
TH REE MONTHS FROM 4
THE LAST DAY OF THE j..."
MONTH , OFISSUE,THE -
HOLDR.TO OBTAINE
THE MOUNT THEREOF
LESS MI AIMITIONAt
FEE C THREE CENTS.
MUSTSELIVER IT TO
-/ THE POSTMASTER AT ANY 1..
MONET:ORDER OFFICE '(
AND SIGN AN APPLICATION
FORA DUPLICATE PAYABLE
TO HIM BY SUCH POSTMASTER.
raviD TO BE ISSUED BY THE
POST OFFICE DEPAIMIENT.
Paper Money Whole No. 167
Page 155
Station I's date stamp was applied to the left circle on the back when this postal note was issued. To
assure the note would only be cashed once, the paying office's date stamp was required in the right
circle when the note was presented for payment.
A type I note with serial number I.
The Earliest and Latest Known Notes:
The Earliest Reported
TYPE I TYPE II
TYPE IIA TYPE III
TYPE IV TYPE V
EARLIEST REPORTED 9-3-83
5-16-84 4-15-87
9-8-87 1-26-88
4-19-92
CITY NUMEROUS BALTIMORE NEW YORK CINCINNATI STAMFORD NEW YORK STA. J
STATE MD NY OFI CT NY
SERIAL NO. 9502 102023
71833
6115 6904
PLATE NO. F2 B19 G27 C6 F37
FACE VALUE .01
.01
.02
.01 .10
iiitriroctir sin AINEAUICA
—181
arepl,
ForLass than Five Dollars. Panable in the Mind Slalas nni9.
rosrmAt ,e4t
colinummp,'" •
WILL PAT TO BEARER within three months 11•0to the lost
day of t month t
41
Most ordestroyed i h d *h' ran i
deed the /Thom ainoun
s. wax *1: inf.,. "
uxlx t
Page 156 Paper Money Whole No. 167
The Earliest and Latest Known Notes:
The Latest Reported
TYPE I
TYPE II TYPE HA
TYPE III
TYPE IV TYPE V
LATEST REPORTED
CITY
STATE
SERIAL NO.
PLATE NO.
FACE VALUE
1-22-85
JACKSBOROUGH
TX
560
H3
25
8-19-88
PAWNEE CITY
NE
3326
G3
.01
5-2-88
NORTHWOOD
NH
1424
B25
.01
8-17-88
MOHAWK
NY
1821
G26
.02
4-23-93 6-30-94
REDWOOD FALLS NUMEROUS
MN
8993
40G
.50
Widespread publicity stimulated collectors to obtain extra souvenir notes on the first and last days
of issue: September 3, 1883 and June 30, 1894 respectively.
the second when the note's size was reduced and the paper al-
tered from yellow to white. The second type became type II-A
when an important aspect of the enabling legislation was
changed by Congress. Type II-A became type III when the
Homer Lee Bank Note Company added the words "ANY
MONEY ORDER OFFICE" to the notes' printing plates to reflect
the law's change.
Type III ended and type IV began when American Bank Note
Company won the second four-year contract (and directed
Thomas E Morris to redesign the note). Type IV became obso-
lete when Dunlap & Clarke of Philadelpia was awarded the
final contract. Their type V notes are exactly the same as
American's type IV's, except they removed American's name and
substituted their own!
Postal note collectors have long believed that the new de-
signs of types II, 11-A, III, IV and V were introduced without fan-
fare or publicity after two events had taken place:
1) A change of design, an alteration of the legislation, or the
awarding of a new production contract gave rise to a new type
of postal note;
2) A postmaster needed and requested a new supply of
notes.
Now let's look at the "Earliest and Latest" charts for corrobo-
ration or refutation of the currently-held theory.
The current theory follows this logic: postal notes were sent
to requesting postmasters as soon as the contractor printed the
order. Issuance of a new type started upon receipt if the
previous shipment had been exhausted. Because large city
offices sold more of these money orders than small town
offices, and had to re-order more frequently, they had a greater
likelihood of being the first to receive new designs.
The "Earliest Reported" list offers five opportunities to
confirm or refute the theory. The nation's largest city, New York,
appears twice, with Baltimore, Cincinnati, and Stamford com-
pleting the list. Baltimore and Cincinnati are big cities today
and would have been considered "major" cities in the 1880s
and 1890s. The only small town in the list is Stamford, Con-
necticut. Four of the five cities can be classified as "major,"
confirming the theory.
The currently held theory for the "latest reported" notes
follows this logic: small town citizens requested fewer postal
notes and their post offices needed new supplies less fre-
quently. Thus, a book of 100 or 200 notes would last much
longer in a small town than in a big city. This heightens the
probability that "old" types of notes were issued for longer
periods of time in smaller towns than in larger cities.
For the theory to be confirmed, we need to find a preponder-
ance of small towns in the "latest reported" list. In fact, all five
Paper Money Whole No. 167 Page 157
Jacks borough, TX No. 560, a 25-cent postal note issued on January 22, 1885, is the last note bearing the type I design known
to modern collectors.
listings are from small towns. To paraphrase George Peppard's
character in the TV program "The A-Team," "I love it when a
theory comes together!"
CONCLUSION
Postal notes were produced by three banknote companies
under contract to the United States Post Office between 1883
and 1894. Interested collectors know the initial date of issue for
the first type and the final date of issue for the last type, and
have strong suspicions about the possible first date of issue for
type II-A. Unfortunately, we have no hard data on the "first" or
"last" issue dates for types II, II-A, III, and IV.
This article provides a starting point for the identification of
the earliest and latest dates of issue for these elusive-to-rare de-
signs. But it is only a starting point. We need the cooperation
of every postal note owner to provide more accurate data, not
only to develop a concise answer for this inquiry, but to help
answer additional questions currently being investigated.
If you own a postal note issued between September 3, 1883
and June 30, 1894, please contact me. I will provide as much
data about your note as I can, and will enter it in our census. I
look forward to hearing from you.
ADDITIONAL SOURCES
Paper Money: Vol. 12, No. 4, whole no. 48, pages 171-178; Vol. 13, No.
1, whole no. 49, pages 20-29; Vol. 13, No. 12, whole no. 50, pages
70-76; Vol. 13, No. 3, whole no. 51, pages 109-111; Vol. 22, No. 2,
whole no. 104, pages 66-67; Vol. 24, No. 4, whole no. 118, pages
165-166.
Coin World: December 14, 1983; December 21, 1983; December 28,
1983; June 15, 1983, pages 38, 50; April 17, 1985, pages 3, 18; August
21, 1985.
The Centinel: Volume 32, No. 3, pages 26-28.
The Lamp: Volume 13, No. 3, pages 26-28.
The Numismatist: Volume 101, No. 7, pages 1189-1195.
The Postal Notes of 1883 to 1894, an educational program (#67) available
from the American Numismatic Association.
Morris, T.F., 11. The Life and Works of Thomas E Morris 1852-1898.
Carothers, N. Paper Currency of the United States.
ABOUT THE AUTHOR
Charles Surasky is a member of a study group which is gathering infor-
mation on postal notes. If you have a postal note issued between 1883
and 1894, please forward a photocopy of the face and back. If you have
additional information, a question, or a comment on this topic, please
forward it to Mr. Surasky. All inquiries will receive a prompt response.
Write: Charles Surasky, 15760 Ventura Blvd., Suite 110, Encino,
California 91436. ■
BUCK (Continued from page 148)
Other relatively inexpensive notes from Maryland are notes
from the Farmers & Mechanics Bank of Cecil County. The $1
through the $20 note should cost $25 or less. The $2 note has
The Calmar)), Children engraving. The $10 note bears an en-
graving of Liberty by an unknown engraver who engraved it for
the National Bank Note Co. This is one of my favorite en-
gravings. It appears on the United States $100 two-year interest-
bearing treasury note from 1861. This treasury note is unique,
but the $10 note from Maryland, with the same subject, is avail-
able for a fraction of what the $100 note would cost, if it were
to become available.
The paper on which these obsolete notes are printed is deli-
cate. So, don't be deceived with imitations printed on heavier
paper that appears to be aged.
At your first opportunity visit a paper money dealer who
handles obsolete currency. As you look through his or her
notes you will see many subjects that catch your eye. Don't go
overboard. Try to concentrate on a particular state or subject.
There are thousands of notes crying for a home. In the next
column we'll look at some odd denomination obsolete bank
notes.
(Copyright story reprinted by permission of Coi n World, February
22, 1993)
Charles Schlecht's
Minerva
by GENE HESSLER
Paper Money Whole No. 167Page 158
S
ECURITY engravings are occasionally seen with a copy-
right registration along the bottom; these small letters
often appear to be part of the vignette. This copyright
line is usually etched away before the subject becomes part of
a plate for a security instrument.
On occasion, but seldom, the name of the artist or engraver
will appear with the company name. One example is Walter
Shirlaw's engraving of Harvest, engraved for the Western Bank
Note Co., and used on the Bank of Hamilton, Canada $5, Pick
S451.
The name of "VV. Sherlaw" is seen on this engraving of Harvest; however, the
Western Bank Note Co. held the copyright.
About ten years ago, as a favor to our late colleague Dr.
Glenn E. Jackson, I photographed a business card once used by
engraver Charles Schlecht. Along the edge of the cloud on
which Minerva is seated one can see "Entered according to Act
of Congress in the year 1876, by Charles Schlecht, in the office
of the Library of Congress, Washington, D.C'
Charles Schlecht, who was born in Stuttgart, Germany in
1843, came to the United States in 1852. His engraving appren-
ticeship began in 1859 at American Bank Note Co. He received
individual instruction from Charles Burt and Alfred Jones. In
1864 Mr. Schlecht joined the Western Bank Note Co. in
Chicago, where he probably remained for about 10 years. Then
he worked at 56 Reade Street in New York City, as his business
card confirms. Later this engraver had his office in the Tribune
Building on Nassau Street in New York City.
On 5 August 1893 Charles Schlecht joined the Bureau of En-
graving and Printing at $5,000 per year. He left the employ-
ment of Uncle Sam on 7 January 1897 and engraved
independently. He died in New York City in 1932.
Within the past few years the subject of Mr. Schlecht's busi-
ness card has been on a bond, stock certificate and bank note,
each printed by a different company. The bond, issued by the
Lake Gas Co. in 1882, was printed by the Western Bank Note
Co.—Schlecht's copyright is retained. The stock certificate was
issued by the West Columbus Copper Co. in 1906; it was
printed by the New York Bank Note Co. with no copyright. The
copyright was also deleted on the Banco de Republica,
Colombia 2 pesos/dollars, printed by the Homer Lee Bank
Note Co., Pick 103. These are all the same engraving, not the
same subject engraved by another engraver.
Mr. Schlecht had enough business acumen to copyright this
particular vignette. We can assume he received payment for
each use. Engravers who are employed by companies hold no
ownership of the work they engrave for their employers. This
engraving is therefore an exception. You will notice that the
secondary subject on the shield is different for each use.
During the 1991 International Paper Money Show in
Memphis, the Catherine the Great Exhibition was on display in
the Convention Center. As I toured this magnificent collection
of artifacts from the U.S.S.R., my eyes were drawn to the fron-
tispiece of a small book, the Companion of Lovers of the Russian
World, or, Russian Language Lovers Companion, depending on
the translation of the title, published by the Imperial Academy
of Sciences, 1783-1784. There, without the cupid, was the same
image of Minerva. If Charles Schlecht did not see this book, he
must have seen another print of the same subject or perhaps
the original art work. My search for the original source con-
tinues.
f
)) ------
•
The engraved business card for Charles Schlecht.
OF (4
AY rffilr 4
ei;
Paper Money Whole No. 167 Page 159
w . HEADE ;STREET,,--
Minerva, with the copyright, on the bond for the Lake Gas Co.
Page 160
Paper Money Whole No. 167
Minerva, without the copyright, as she appears on the stock certificate for the West Columbus Copper Co.
I have learned to be constantly alert to anything that might our collecting fraternity, and some within, would call that ob-
relate to bank note design and engraving. Most people outside session. I plead guilty.
THE "SPURISCOPE"
submitted by BOB COCHRAN (with thanks to Bill Chisamore)
A
S of February 1950, Ruth Devices Corporation of New
York City was marketing the "Spuriscope," a device
which would allow the user to detect counterfeit U.S.
currency. Ruth Devices stated that the device, which cost $5,
was infallible in detecting counterfeits of [then] "Current Fed-
eral Reserve Notes, Silver Certificates & United States Notes of
every denomination (since 1929)."
The functionality of the "Spuriscope" was based upon the
sheet layout the Bureau of Engraving and Printing used at that
time for assigning check letters and serial numbers to the notes.
The check letter is a letter which appears twice on all U.S. small
size currency, at the upper left and lower right. It is a method
for determining the position of any given note from a printed
sheet. Until April 2, 1953, ALL small-size U.S. currency was
printed in sheets of 12 notes (National Currency and Federal
Reserve Bank Notes were printed in sheets of 12, then cut and
delivered to the banks in vertical sheets of 6 notes each; but the
serial numbering scheme differed from that used on the notes
the "Spuriscope" was designed to check).
On the 12-note sheets of Federal Reserve notes, silver certi-
ficates and United States Notes, the check letters "A" through "L"
were used. The six notes on the left half of the sheet, reading
top to bottom, bore the check letters "A" through "F"; the six
notes on the right half of the sheet, reading top to bottom, bore
check letters "G" through "L".
The "Spuriscope"; the user dialed in certain numbers of a note's serial number,
and compared the 'check letter" with the letters in the window (appearing to
the left of the "5").
LTO
G 20964705 B X 430
G. 20964705 B
TEDERAI RESERVE NOM
VDT DOLLARS10 1:0
Series of
1934 C
G 20209647 CSeries of
1934 C
O Torhrr DOLLARS
4: 14•1 ZTANICINK8:41 .:11411
G 20209647 C
z0
0 110
COUNTERFEIT BILLS THAT ARE POURING INTO NEW YORK
A diagram of the $10 bill. The back plate carries the number 1201. The face in the bottom right, in
ion to the K430, also bears G110, L108 and L430.
o r
VI
ed
A
ti
th
T.
st
ti
F
al
of
Se\
Wa
tu
and
the
qu
boo
pen
qua
Th
tion,
•
The bogus $20 hill. The back plate here has the number 480. The face carries, in addition to the G110 men
people
don't
of an
shown. 1110 and L108.
0
n
d
it
P
P.
P
RI
0 ill
011.4
cr) o
L)1
ag
z
ir-1
[CI
Ci_,z
O
Paper Money Whole No. 167 Page 161
SEE F1111 YOURSELF !
NEW YORK TIMES, FRIT
•
F-4
Lx
RI
g
U p.,
O
cr)
PLI
W
ZC)
2 zrr1 0
C7 A
6
By ROBERT
New York is being flooded with
the greatest amount of counter-
feit money in the history of the
country
This warning was sounded yes-
terday by officials of the Federal
Reserve Bank of New York and
the Secret Service. The counter-
feit bills, In denominations of $10
and $20, are so perfect that Re-
serve officials described them as
"dangerous." The bogus money
was first detected a week ago and
has since poured daily into the
H. FTTRIDGE
Federal Reserve Bank in such
creasing proportions that the bank
officials together with Treasury
agents called an unprecedented
press conference to warn of the
danger.
On the basis of the bogus money
already detected, it was estimated
that the amount in the hands of
the public might run into "mil-
lions of dollars," far outstripping
the exploits of "Count" Victor Lus-
tig, whose gang in 1934 flooded the
Midwest with $2,500,000 in coun-
terfeit currency.
So far the New York area has
been the main dumping ground for
the new counterfeit bills"; described
by Treasury agents as a masterful
Job of imitation.
On the Federal Reserve Bank of
Chica 11.; Series of 1934C, check
face plate N9. 108 or
S No. G20964706B; check
letter
face plate No. 430, Se-
No. 20984705B; check letter
face plate No. 110, Serial No.
G20209647B; facsimile signatures
$20 Counterfeit Described
The Secret Service describes the
$20 counterfeit as follows:
"On the Federal Reserve Bank
of Chicago, eries of 1934C;
check letter face plate No
110, No. 7958596C: check
letter face plate No. 110,
Serial No. G978.59597C:
Bogus Bills Flood New York Area;
$10 and $20 Notes Near Perfect
Copy of a New York Times article about counterfeit notes "pouring into
New York," which was included in the package containing The "Spuriscope."
$1,000 6uttrantrr $1,000
We hereby GUARANTEE that when the SPURISCOPE shows a bill to be
counterfeit
— IT IS COUNTERFEIT ! —
If directions on the back hereof are followed correctly and the
SPURISCOPE shows a bill to be counterfeit, and it proves to be genuine ...
— WE WILL PAY YOU DOUBLE THE AMOUNT OF THE BILL —
up to a maximum of ONE THOUSAND ($1,000) DOLLARS. That is :-
If a $5. bill shows counterfeit on the SPURISCOPE and
proves to be genuine, we will pay you $10.
If it is a MI. bill we will pay $20.
If it is a $20. bill we will pay $40.
If it is a $50. bill we will pay $100.
If it is a $100. bill we will pay $200.
If it is a $500. bill we will pay $1,000.
(This applies to Federal Reserve Notes, Silver Certificates, and United
States Notes, issued since 1929, presently in circulation).
DON'T GAMBLE AND HOPE,
USE THE SPURISCOPE !
RUTH DEVICES CORP.
11 BROADWAY
• NEW YORK 4, N. Y.
February 1st 1950
Page 162
Paper Money Whole No. 167
poes at
The guarantee offered to users of The "Spuriscope."
The method used to assign serial numbers to a particular
note was designed such that a particular serial number had to
match a particular check letter. Normally, the notes would be
numbered consecutively by the half sheet, six down on the left
and six down on the right. However, there were exceptions to
this rule. Neil Shafer provides the following information in his
book, A Guide Book of Modern United States Currency.
"The 12-subject sheets exist both with consecutive serial
numbers by half sheet as described above and with all twelve
notes in full consecutive order. As explained by the Bureau, the
general rule was that sheets intended for processing as regular
issues for circulation were numbered by the half sheet ac-
cording to the following example: Suppose that the total of a
particular run was to be 1,200 notes, or 100 sheets. The first
sheet would contain serial numbers from 1 to 6 on the left side
and 601 to 606 on the right side, the second sheet would have
numbers 7 to 12 and 607 to 612, and so on until the end of the
run.
"Sheets delivered to the Treasurer in uncut form, presumably
for release upon request to collectors and others, often but not
always bore consecutive numbers for all the notes on the sheet.
In 1950, it was officially ordered that all uncut 12-subject sheets
scheduled for delivery to the Treasurer should thenceforth bear
serial numbers in fully consecutive order for the entire sheet:"
So much for the technical stuff. Let's have some fun reading
about the "Spuriscope' But pay attention—there WILL be a quiz
later! The package containing the "Spuriscope" contained a
cover letter, a reprint of an article from The New York Times (il-
lustrated with this article), a guarantee (also illustrated), direc-
tions for using the device, and a booklet entitled "A Message To
Everyone Who Handles Cash" Here's the text of the cover letter
from Ruth Devices Corporation; at the top left was a vignette of
the "Spuriscope," with the legend "Don't Gamble and Hope, Use
the Spuriscope' Along the left side were "Prominent Users" of
the device—among them were several banks, governments,
large businesses, and the New York Giants!
Dear Sir:
What would you do if a man came into your bank today with a
cleverly-designed $50 counterfeit bill? Have your tellers a quick,
easy and accurate means of telling it was counterfeit?
Bogus money is flooding the country. The United States Secret
Service only recently warned of the terrific increase in counter-
feiting. Even bank tellers are occasional victims. No one knows
where or when the counterfeiter will strike next!
The Spuriscope is a patented and proven device for detecting
Counterfeit Money from $1 to $10,000. It is used by thousands of
firms, banks and agencies of the U.S. Treasury Department. It has
proved of utmost value to them—it will prove equally valuable
to you.
Paper Money Whole No. 167 Page 163
You need not check every bill—only a doubtful one. It takes but
seconds to check any bill!
The Spuriscope is sold only by direct mail. We have therefore
taken the liberty of bringing it to you—on the basis of a 10-DAY
FREE TRIAL. We realize this is an unusual way of sending a product,
but we feel sure you will find the Spuriscope most unusual.
The Spuriscope is worth many times its modest cost ... only
$5.00. Should you keep it kindly remit $5.00. If you retum it please
re-use our corrugated carton, stamp for which is enclosed.
One counterfeit bill detected MORE THAN PAYS FOR ITSELF!
Now, here's the directions for using the "Spuriscope."
Before using Spuriscope, see diagram below and note correct oper-
ating position of device and location of 'CHECK LETTER' and
SERIAL NUMBER on the face of all bills. Don't use Spuriscope until
you have worked all examples below.
Always place Spuriscope as shown with rectangular window on
TOP. Dial with finger in direction of arrow as you would a tele-
phone dial. Withdraw finger after striking bottom of dialing slot.
Bottom hole is for the RED RING (shown opposite the "4" in the il-
lustration of the "Spuriscope" elsewhere in this article); next hole is
for dialing EITHER 1 or 7; 3rd hole, 2 or 8; 4th, 3 or 9; 5th, is 4; and
top hole is 5. REMEMBER: '0' AND '6' CANNOT BE DIALED.
1. Before testing any bill, be sure to set RED-RINGED hole at
bottom of slot as shown below. FL in rectangular window is AL-
WAYS THE STARTING POINT.
2. Dial individually, and in succession, each and every number of
SERIAL NO. EXCEPT THE FINAL NUMBER, omitting '0' and '6r-
since they CANNOT BE DIALED and ....
"c;E=E=ESE D1RECTIOYS FOR USE
On Current Silver Certificates, United States Notes and
Federal Reserve Notes of every denomination (since 1929)
1. Before dialing any bill, be sure to set the red -ringed hole at bottom of slot. Dial in direction of arrow.
2. Then dial each numeral of Serial Number iri succession, up to and including the next-to-last numeral
and then STOP. (ZEROS and SIXES are considered numbers but cannot be dialed. If a ZERO
or SIX is the next-to-the-last number, stop at the last dialable number prior to that—see second
example below.)
3. Glance at the pair of letters in sight-opening. ir they are GREEN at this point, dial the last number
of Serial Number.
4. If, however, the pair of letters are RED at th.), point, you must dial number 3 additionally, then
dial the last numeral of the Serial Number.
5. Should the Check Letter which appears on face of bill in the upper left or the lower right corner
differ from either of the pair of letters in the sight-opening, the BILL IS COUNTERFEIT!
Easy-to-follow Examples
X735061861
Dial thus: 7 -3 5 • I - 8 then STOP. (8 being the next-to-last numeral).
The pair of letters FL appearing in sight-opening being
GREEN, you go right' ahead with last numeral which in
this particular case happens to be SIX.
ZEROS and SIXES cannot be dialed, therefore you have
completed the testing itf the bill. Should the Check Letter
on this bill be any letTe77other than Ir-oi-E7Ifie -MONEY
WILL BE A COUNTERFEIT!
Back
Lincoln Memorial X7350606.91
Dial thus: 7.3.5 then STOP ( being the next•to-last numeral).
The pair of letters CI appearing in sight-opening being
RED, you must dial an additional #3, then the last
numeral. The correct Check Letter on this bill must be
either C or I. If any other Check Letter should appear,
the MONEY WILL BE A COUNTERFEIT!
Back
U. S. Capitol
$10 .
Front
Hamilton
$100.
Front
Franklin
Back
U. S. Treasury
Back
Independence Hall
6uarantrr
We warrant each SPURISCOPE to be free from di fects in material and workmanship, and will replace
at our expense at our factory any defective part or parts thereof, which shall within one year after
delivery to the purchaser, be returned to us, transportation charges prepaid.
WHEN THE SPURISCOPE SHOWS IT'S COUNTERFEIT —IT'S COUNTERFEIT!
"DON'T GAMBLE AND HOPE, USE THE SPURISCOPE!"
RUTH DEVICES CORP.
11 BROADWAY • WRitehall 4-5580 • NEW YORK 4, N. Y.
1.."■...^%:%..'"Voi.."%..'N.1.1.."%%N.1.MN..-•."%..'"0..%.'N.."%lii=6...n...41.=.
The above "Directions for use" was submitted by Eric P. Newman.
Front
Washington
Back
Ornate One
S5.
Front
Lincoln
S 1-,
Back
White House
$20.
Front
Jackson
$50.
Grant
Million Dollar
Buying Spree
Nationals
MPC
Currency:
FractionalLg. & Sm. Type
ForeignObsolete
Stocks • Bonds • Checks • Coins
Stamps • Gold • Silver
Platinum • Antique Watches
Political Items • Postcards
Baseball Cards • Masonic Items
Hummels • Doultons
Nearly Everything Collectible
COIN
SHOP
EST 1960 INC
"91.•i494•%13•41.1"
399 S. State Street - Westerville, OH 43081
1-614-882-3937
1-800-848-3966 outside Ohio
Life Member
SEND
FOR
OUR
COMPLETE
PRICE
LIST
FREE
ro1l Urn.
Page 164 Paper Money Whole No. 167
3. At this point, look in window for COLOR of letters ..
If RED IF GREEN
Dial '3' and then dial the last Merely dial final number of
number of SERIAL NO. unless SERIAL NO. unless it is '0' or '6'
it is "0" or "6" which are always which are always omitted.
omitted.
After EACH and EVERY number of SERIAL NUMBER has been
properly dialed, EITHER of letters in window MUST CORRES-
POND with 'CHECK LETTER' on bill or else THE MONEY IS
COUNTERFEIT!
EXAMPLES
(a) SERIAL NO. 10468060 is dialed thus:
Dial 1, omit 0, dial 4, omit 6, dial 8. At this point look in
window. Letters are RED. Then dial 3. That completes test as
remaining numbers cannot be dialed. If "CHECK LETTER"
on this bill is any other than D or 1, the BILL IS COUNTERFEIT!
(b) SERIAL NO. 17483940—the following numbers are dialed:
1, 7, 4, 8, 3, 9, 4. At this point, look in window. Letters are GREEN.
Final number being Zero, you have completed the test. Correct
"CHECK LEI LER" is FL.
(c) SERIAL NO. 93827156 is dialed thus:
9, 3, 8, 2, 7, 1, 5. At this point look in window. Letters are RED.
Dial "3". Final number being 6 you have completed the test. Cor-
rect "CHECK LETTER" is BH.
(d) SERIAL NO. 12345601 is dialed thus:
1, 2, 3, 4, 5. At this point, look in window. Letters are RED. Dial
# "3" and then dial final number 1. Correct "CHECK LETTER"
is AG.
Here's some excerpts from the booklet:
"On the front of all bills, in the upper left hand, there is a
small Check Letter.
"A coded relationship exists between this Check Letter and
the Serial Number. Every time the Serial Number changes, the
Check Letter changes. Dial the Serial Number on the SPURI-
SCOPE and it will show you, 1,000,000 times out of 1,000,000,
what the Check Letter should be!"
"Q. Why don't counterfeiters place the proper Serial Number
on money?"
"A. In one word—TIME—prevents them. They would need 12
engraved plates! It takes a counterfeiter at least 8 MONTHS to
make a single plate! If he was to make 12 plates with a different
Check Letter on each, as is done by the Bureau of Engraving, it
would take him at least 96 MONTHS, or 8 YEARS! And maybe
even more. It takes a group of expert engravers working under
the best of conditions in Washington about 4 MONTHS to
make a single plate. No one engraver does all the work. One
works only on portraits, another on lettering, another on scroll
work, and so on.
"Twelve plates are made for each denomination. Each plate
of every denomination is absolutely identical EXCEPT FOR
THE CHECK LE'V'ER! Each plate has a different Check Letter,
ranging from A to L. EVERY time the Serial Number changes,
the Check Letter also CHANGES! A coded relationship exists
between the Check Letter and the Serial Number on every bill"
"Q. Why doesn't the counterfeiter take the Serial Number
from a good bill, and put that number on all his money?"
"A. That would be like putting his fingerprints or address on
each bill. Why? Here's what would happen. After passing his
first bogus bill, it would be deposited in a bank within a day,
and there be picked up as bogus. It would then be promptly
turned over to the Secret Service. They would immediately flash
a warning to business places to be on the lookout for bills
bearing that Serial Number. The same Serial Number on all
bills would be the broadcast and easiest trail for Treasury
Agents to follow. The counterfeiter would leave himself wide
open to quick capture. Now do you understand why the coun-
terfeiter DOES NOT put the same Serial Number on all his
money?"
"Hot Number" (an article by Frank Farrell from the New York
World-Telegram)Mark Klauser, advertising director of Ohr-
bach's, shoved a 10-spot towards the cashier in the Paris Theater
the other evening. She gave him a long double-take, studied
the serial number of the bill and started dialing what Mr. K pre-
sumed to be a telephone. He got a fast case of jitters, an-
ticipating a sudden swooping down of T-Men, G-Men, and
local police to third-degree him for the origin of a counterfeit
saw-buck. Then the cashier handed out his change. She eased
his pain, explaining that she had not phoned anybody, but had
dialed the serial number on a 'Spuriscope' to detect phony lOs
and 20s'
REFERENCE:
A Guide Book of Modern United States Currency. Shafer, N. Fifth Edi-
tion, 1971. Western Publishing Company, Racine, WI.
Paper Money Whole No. 167 Page 165
Syng Cap itie Vig ri,ette5
by ROBERT LLOYD
Back in 1922 this writer was sent to the grocery store to pur-
chase the weekly order. Imagine the thrill when Dad handed
me a new, crisp, U.S. note, Series of 1880 with signatures of
Elliot and White, the first ever to come to my hand. It was one
of those made from the last plates of $20 greenbacks that were
soon to be destroyed. The retirement of the circulating $1 notes
of 1917 made way for their conversion into the higher denomi-
nations. A week later, it was a $20 gold certificate, probably one
of those that had been impounded during the recent war, but
still the first I had seen.
In looking back over the large-size notes that this writer had
collected, the Series of 1880 U.S. notes seems to give the col-
lector the most variety and the greatest challenge.
To begin with, it is the only series of large-size notes to run
in all denominations from $1 to $10,000. Others ran from $1 to
$1,000 (1863); $5 to $10,000 (1914-1918) Federal Reserve notes;
gold certificates from $20 up and National Bank notes from $1
to $1,000 in their early years. The "Silvers" as they were called by
collectors and dealers, were $10 to $1,000 at first, later adding
the three lowest values and losing their high values early in the
game. The $10 gold certificate arrived late.
Secondly, the Series of 1880 produced notes all in the same
general style—portraits and vignettes on the face with much en-
graving on the backs along with statements on counterfeiting
and redemption. This uniformity of style changed only with
the 1901 $10 and the 1923 $1 and $10.
Next, the Series of 1880 ran through a variety of seal sizes
from the large beautiful seals of the '80s to the small rounds a
few years later, ending with the long-lived scalloped type. And
along with seals came the usual red serial numbers, then the
blue toward the end of the last century to give the red, white
and blue appearance. They finally reverted to red which was to
be the true mark of the greenback.
Further, the issues of 1880 and following years was subject to
some manipulation, as the $1s and $2s were restricted after
1886 when low value certificates were issued; the two high
value notes disappeared altogether, their place taken by gold
certificates. Also to go was the $10, which gave way to the
"buffalo note" of 1901, sometimes called the "Pan-American
Note And in 1907, the $5 was altered and given a new series
because it carried a new red counter.
So the set was shorn of its originals, but its descendants were
the 1917 bills, somewhat redesigned, but quite similar to the
early $ ls and $2s, which had been discontinued after 1896. The
1917 $ls were able to go through eight blocks before giving way
to the 1923 $1 notes.
This is a series which will make a great display, as they are the
descendants of the Civil War greenbacks of 1863. When the
total amount outstanding was frozen at $346,681,016 in 1879,
they circulated side by side with National Bank notes of the
same denominations. Congress had planned to discontinue
the entire issue, but by 1917, this total was really too small to
allow reasonable printings of all the values. So policy shifted to
increasing low value notes and retiring the large denomina-
tions. This policy operated from the late 1880s to 1928.
BANK Happenings
[From American Bankers Association Journal, November, 1931. Submitted
by Bob Cochran.]
Posted
T
HE Bank of Massachusetts which was opened in Boston
in July, 1784, "to be a public utility and more particu-
larly beneficial to the trading part of the community,"
had some practices that at this date may appeal to us as quaint.
One practice was that if a customer failed to meet his obliga-
tions on time, his name was posted in the corridor of the bank.
Harsh as this may seem in view of the generosity with which
extensions are granted today, that was not all of the penalty. In
addition to being posted, where all who ran into the bank
might read, the officers for eight months would not consider
any more discounts to the customer unfortunate enough to
thus fall into arrears.
The illustration pictures a likely scene when on a fair day, say
140 years ago, a delinquent passed the door of the bank as his
friends read of his inability to meet his obligations. No great
exercise of the imagination is necessary to fashion the words
with which the Puritanical folks of that time passed judgment
upon some unlucky acquaintance who had ventured too far in
his conduct of business.
Page 166
Paper Money Whole No. 167
Meet Your Charter Members
Notes
From
All Over JudithMurphy
Let me begin by saying how much I am looking forward to
working with our new board to further the aims of the Society.
For those of you whom I haven't met, I attend approximately
thirty-five shows a year, with my husband, Claud. I hope if I am
in your area you will stop by our table and introduce yourself.
I am looking forward to making many new friends as I pursue
my collecting of scrip, checks and stock certificates. Also, I
speak for all the board when I tell you we welcome your
suggestions—this is, after all, YOUR Society. Let us hear from
you.
The SPMC met at ANA Baltimore, with ninety-two members
present from twelve states, including impressive representation
by the Currency Club of Chester County (PA). Thanks to Steve
Taylor, who chaired and Nelson Page Aspen, who shared with
us his wonderful program on educational notes. Since we met
at 10:00 AM Wednesday, before the bourse had even opened, I
can't imagine how many members might have attended had
we been scheduled a little later in the program. Plans are to
meet again at the FUN show in Orlando in January '94; more
about that later. If there is a regional or state show coming up
in your area, and you'd like to help organize a regional SPMC
meeting, please contact Wendell Wolka, who has agreed to be
Regional Coordinator. Watch for names of persons to be con-
tacted in your area as volunteers make themselves known to
us. If you want to publicize such an event, or anything to do
with SPMC, please get in touch with Bob Moon, our Publicity
Chairman. It is our hope that regional meetings will help in-
crease our membership and give us opportunities to share our
knowledge and experience in our areas of interest. I hope we
will be inundated with volunteers. Another great way to share
is by exhibiting, as many of you already know. Let's all work to-
gether to further these ends.
The Board will meet again at St. Louis, at the PCDA show in
November. 1 will look forward to seeing you all as we travel
around the country.
CONSIDER
donating a subscription
of PAPER MONEY to
your college alma mater,
local historical society
or library.
Bill Mason
When my father died, in 1907, he left me $100 in gold coins—
one $20, two $10s, four $5s, twelve $2.50s and ten $1s. I
thought they were the prettiest things, and planned to never
spend them. I still have the $20, dated 1850, the year my father
was born.
In the 1920s and 1930s I was buying books, mostly from
Wills Book Store in Greensboro, North Carolina. I would read
and keep them for our small library. One day in Wills Book
Store a lady gave me a nice package of postage stamps—they
hooked me good! Then I had to buy some stamp books from
her, just like she knew I would.
I searched every old chest and attic that people would let me
examine for old stamps, and I bought them from H.E. Harris &
Co. in Boston and from Stanley Gibbons in Connecticut. I
really had a good time placing them in my stamp books and
learned more about the world than I had ever known.
In about ten years I had almost all the U.S. postage stamps,
from the first ones in 1847, used and unused, and the first day
covers from 1917, all but the upside-down airplane, U.S. enve-
lopes and postal cards, also some from every foreign country
that printed them. I think stamps are pretty, especially after
President Roosevelt promoted commemorative stamps. I had
the duck stamps, newspaper stamps, food stamps and most
any others you can think of.
Wills Book Store kept telling me to collect coins. I told them
stamps were keeping me broke all the time, but once they gave
me a box of U.S. cents. So here we go again, buying a lot of coin
book holders to put them in, from Wills Book Store. I also
bought more coins in the book store.
I soon got in touch with Stack's in New York City (Ben and
Joseph Stack), and New Netherlands Coins. I was trucking sea-
food to the old Fulton Fish Market in New York in the 1930s
and 1940s, and after I would get unloaded and eat some break-
fast at Sloppy Joe's, I would park my truck and take a subway to
Stack's, 12 West 46th Street at that time. I would come back to
my truck a few hours later with my pockets full of silver and
gold coins. They would give me all the credit I wanted. Some-
times I would carry Ben and Joe Stack some spotted trout—that
was their favorite fish. They lived out on Long Island and they
would have a fish cookout.
By 1947 I had collected all the dates I could get, so I got
Stack's to sell my collection. The William Mason Collection
brought $50,000; the same collection today would probably
bring over $5 million dollars.
In 1959 my interest in coins began again, but by then they
cost too much. I turned to paper money, mostly obsolete notes,
because they were inexpensive. I had always liked paper money
because each piece is different and the large-size notes are
beautiful. I had a lot of paper money in my sale, but Stack's sent
most of them back to me, because they would not sell high
enough above face value.
I started going to coin shows with Robert Payne in 1959. We
went to every show within 100 miles of Greensboro, North
Carolina; there were many coin shows then. We would arrive
early on Saturday mornings, about 8 a.m., so we could look the
goodies over while the dealers were setting up their tables. We
have had some good times together collecting paper money
Paper Money Whole No. 167
Page 167
and some coins. We still go to the shows together, anywhere be-
tween Raleigh and Charlotte. We would also visit Dr. Bolt and
Clyde Plyer in Monroe, North Carolina, and Paul Whisonant
in Lincolnton, North Carolina; they would let us have some
nice notes.
For over twenty years K.P. Austin and I attended many shows
around Washington, DC together. At one time I had 36 books
of paper money. I had collected and put together twelve books
of small-size notes and twenty-four books which each held 50
to 60 large-size notes. I collected low charter number national
bank notes from 1 to 100, notes from each state capital, and
Red Seal notes from each state. I also collected different U.S.
Treasury seals (18), all the different signature combinations
(66 including large and small), fractional currency and obso-
lete notes.
When Walton, a collector from Roanoke, Virginia, was killed
in a car wreck in 1962 while on his way to a coin show in
Wilson, North Carolina, his paper money collection was sold
by Stack's. I went to the sale and bought most of his obsolete
notes. Stack's offered it in packages; when I was bidding on a
package of North Carolina notes, I thought someone had
raised my bid. I bid again, but Morton Stack said, "Bill, you
raised your own bid, but I won't charge you for it." I won the lot
and brought them back to Greensboro. Bob Payne rented a
table at a local show, and we sold most of the duplicates we
didn't need for our own collections.
I once purchased a real pretty Red Seal note from a bank in
Key West, Florida; the note easily graded EF, and was a real
beauty. On a trip to the FUN show in Florida, I showed it to
Warren Henderson, a Florida State Senator at the time. He
looked at it and said, "Bill, will you sell it?" I told him it was his,
that I had brought it to the show for him, and that he could
give me anything he wanted to for it. He handed me his book
of Florida nationals and told me to take any two notes that I
wanted, except the uncirculated notes. I took a $5 Brown Back
and a $5 Red Seal in about fine condition. The last time I saw
Warren, he still had the Key West note.
George Nicholson got two or three of my Brown Back books
containing notes from different states. He let Dexter have one
book of the notes, and Dexter and another fellow were on a trip
to a show when they stopped at a restaurant to eat breakfast.
They parked the car where they could watch it as they ate. All
of a sudden Dexter's friend said, "Our car is going off!" He ran
outside and shot at the car as it left the parking lot, but it kept
going. The police found the car parked in some nearby woods
about 15 minutes later, but all the coins and notes were gone.
They caught the thieves, and Dexter got part of his coins and
notes back. They had been buried in the ground in tin cans;
Dexter later showed me some of the Brown Backs with rust
stains on them.
Dale Evans from Texas got one of my books of Red Seal
notes, and K.P. Austin got another book of Red Seals and
Brown Backs. Bob Payne got my small-size North Carolina na-
tional bank notes; he had helped me collect them. K.P. found
a note from Lexington, the only one I have ever seen or heard
of I got some nice notes from Andy Sparks, and Register found
me the Key West Red Seal I mentioned earlier. Curtis Iverson
bought my collection of large-size North Carolina notes, 148
notes from 92 banks in 72 towns.
I have sold entire collections for people and helped some
put collections together. Yes, I have had lots of fun collecting,
not only coins and paper money, but everything else. At one
time I had a gold coin from each of the 212 countries in the
world that had minted them. Now I am collecting sea shells,
and I have 360 different varieties. I have even "collected" coun-
tries, by visiting 64 of them on different trips.
Yes, collecting is interesting. You not only meet a lot of nice
people, but you learn a lot. At one time I could have visited any
large city in the U.S. and called-up someone I knew. I have en-
joyed collecting as a hobby for sixty years.
Robert D. Currier
I joined the SPMC at its incep-
tion because I was collecting all
paper money of World War
II—propaganda, guerilla notes,
occupation money, concentra-
tion camp, etc. This was part of
my interest in World War II
books, which I was and still am
collecting, which came from
the small bit I had in that war
as a B-17 radio gunner in Eu-
rope. In the past few years my
interest has focused further to
air dropped propaganda leaflets of World War II, some of
which I personally threw out of the opened bomb bay.
You asked for comments about the old days. Things were
different 30 years ago. I'd buy from mimeographed sheets
mailed by Arlie Slabaugh, then located in Chicago. He had
great stuff, and cheap. And one could pick up a cigar box of
World War II paper for $5 at coins shows and even in some
shops0h, give me $5 for the lot, it's been sitting here for
years," they'd say.
It's a great hobby. The trouble is, I also have several buffalo
nickels, I'm interested in "ham radio;' and I collect old books,
especially medical books. I'm a neurologist by profession—
born, raised & trained in Michigan—and have spent the last
30+ years running the Neurology Department here at the
University of Mississippi Medical Center. This is academic
medicine: teaching and some research.
My paper money collection is in sad shape. I do not know
what I have. I have never written an article for PAPER MONEY
But I have hopes. I'm not retired quite yet. So perhaps some
day . . . .
New Literature
Confederate States Paper Money by Arlie R. Slabaugh, 128 pp.,
eighth edition, 1993. Krause Publications, Inc., 700 E. State
Street, Iola, WI 54990-0001. $12.95 soft cover plus $2.50.
When Mr. Slabaugh introduced his first edition in 1958, col-
lectors literally wore it out carrying it around from show to
show because it fit into a coat pocket. It had just 48 pages but
all the Confederate Type notes were illustrated with prices in
conditions from Good to Uncirculated. Dealers quickly
adopted it. The Civil War Centennial of 1961 was being
planned and interest was building in the study and collecting
of the South's paper money. As more and more people entered
the hobby, prices increased and dealers began searching for
notes to add to their inventories.
.6 • •• • *It O. •
More Cash for your Cash
" 1 MS T
WiSCOnSin C000055A
National Bank Notes Wanted
„„7:,7-,7_ C. Keith Edison
"Nl . ii-1"' (715) 926-5001'
C000055A
P. O. Box 26
OT
Mondovi, Wisconsin 54755"-- talL
4
to
ti
C. Keith Edison
715-926-5001
PAPER MONEY
UNITED STATES
Large Size Currency • Small Size Currency
Fractional Currency • Souvenir Cards
Write For List
Theodore Kemm
915 West End Avenue q New York, NY 10025
Page 168 Paper Money Whole No. 167
Mr. Slabaugh's Centennial Edition showed clearly that prices
had almost doubled in three years. His catalog was enlarged to
64 pages with coverage of the mysterious "Chemicographic
Backs" from England, plus seven pages on counterfeit, facsi-
mile and bogus notes. The author's scholarship was beginning
to show.
The "Revised Edition" was published in 1971 and sold for the
heady sum of $1.50. Now 80 pages, it offered more informa-
tion, the result of the author's continual research which has be-
come his hallmark.
The 8th edition apparently represents what the author
always hoped it would become. Larger in all dimensions with
an attractive cover, the book now has 128 pages crammed with
an enormous amount of history. The first chapter, "A Nation
Asunder," tells us how the Confederacy began. The second
chapter explains how cotton, if properly managed, could have
become the "white gold" to provide a financial foundation for
the new nation. As historians have pointed out, bureaucratic
bungling of the cotton market was the basic reason for the de-
cline of Confederate fortunes.
Mr. Slabaugh continues to turn up obscure information to
reward his readers. For instance I have been puzzled for many
years about the identity of a woodcut engraver named Adrian
Sharp. The name appears on some of Sam Upham's famous
facsimiles of notes issued during the Civil War. In this latest
edition I was startled to find the following: "Adrian Sharp, by
the way, was not an individual. It was the firm name of William
Adrian and Joseph E. Sharp, wood engravers at 138 S. 3rd St.,
Reading further I realized that Sam Upham was just the best-
known of several small businessmen in Philadelphia who
cashed in on the public's demand for souvenirs of the war.
Upham was first located at 310 Chestnut Street, then at 402
Chestnut; James B. Chandler, a printer, was located at 308
Chestnut while James Magee, who marketed patriotic enve-
lopes, was at 316 Chestnut. John Storey sold tobacco and dab-
bled in facsimiles of a Dunnington & Cockrell, Dumfries,
Virginia note in his store at 216 N. 10th Street while E. Rogers,
James Gibbons and the Adrian Sharp partnership were nearby.
Thus we see that there existed a small colony of merchants
who apparently knew each other and availed themselves of
each other's services. It seems logical once we think about it.
Other facets of Confederate finance are covered. The Trans-
Mississippi notes are presented, as well as "The Enigmatical
Issues" which some still call "Essay Notes!' The Chemicographic
Backs explanation remains with fine illustrations. Two pages
are devoted to error notes, two pages to redemption matters
and twelve to counterfeit and bogus notes. Two new Sam
Upham broadsides are shown along with an excellent listing of
his facsimiles.
Next comes a discussion of modern facsimiles along with a
list of notes altered by advertisers. These are followed by an
index of vignettes used on Confederate notes and finally a
chapter titled "When This Cruel War is Over" describes the post-
war suffering of the southern people.
The Catalog portion of the book explains how Confederate
notes are collected today. The years of plentiful supply are gone
and collecting by varieties is a vanishing effort. Finding quality
specimens of Type Notes is challenging enough and can be
both frustrating and expensive.
Photographs of all the Type Notes are presented in much im-
proved form along with their "Slabaugh Numbers' There are
several numbering systems around, the two most popular
being Slabaugh and Bradbeer-Criswell. For some reason Brad-
beer chose to number the notes from the highest denomina-
tion down, a system which I find vaguely uncomfortable.
Slabaugh's system essentially runs from the lowest denomina-
tions upward except for the large issue dated September 2, 1861
where he separates the notes by the contractors who produced
them.
Whichever number system a collector prefers, he can easily
find his way by using Mr. Slabaugh's neat "Cross-Index of
Catalog-Numbers" which gives the Type Numbers as listed by
Slabaugh, Raymond, Chase, Bradbeer, Criswell and Pick.
The prices as computed by the author with the help of
prominent dealer Hugh Shull reflect current market averages
essential to informed collectors. But market prices are not what
sets this book apart. Mr. Slabaugh's catalogs have always con-
tained new information and illustrations available in no other
publication and this edition maintains that standard. For that
reason alone, the 8th Edition should prove to be as valuable to
advanced collectors as it is to those who collect Confederate
currency as a sideline or are just beginning.
Considering the wide distribution and relatively low price of
the Slabaugh catalog, I believe our hobby would be well served
if it were adopted as the standard reference book and notes
were bought and sold by the Slabaugh numbers. The historical
data, 146 illustrations, current market prices in six conditions,
excellent printing, bookstyle binding and modest price make
this latest edition one of the great bargains of today's numis-
matic literature. Brent Hughes
Paper Money Whole No. 167 Page 169
Awards at Memphis
The following literary awards were presented on June 20th at
the Memphis International Paper Money Show.
For articles in PAPER MONEY, vol. XXXII: 1, C. John Ferreri,
"America's First Historical Vignettes on Paper Money;' No. 157;
2,Brent Hughes, "Some Troublesome Counterfeits," No. 158;
3,Robert R. Moon, 'The Brief History of the Germantown Na-
tional Bank:' No. 157. An Award of Merit went to Richard
Jones for his contribution to Virginia Obsolete Paper Money. The
Nathan Gold Memorial Award, presented by the Bank Note
Reporter, went to Forrest Daniel for his years of contributions
to PAPER MONEY.
Each paper money exhibitor received an appreciation
plaque. However, specific awards were also made. The Frac-
tional Currency Collectors presented three awards: 1, Doug
Hale; 2, Milt Friedberg; 3, Bill Brandimore.
The Amon Carter, Jr. Award, presented by the IBNS, went to
Raphael Ellenbogen.
The Bank Note Reporter Most Inspirational Award was
received by Lance Campbell.
The SPMC Best of Show Award went to Doug Wolcutt. The
Julian Blanchard Award, also presented by the SPMC, went to
Gene Hessler.
Numismatic News presented one of their Numismatic Am-
bassador Awards; the surprised recipient was Gene Hessler.
The Dr. Glenn Jackson Memorial Award, only the second
time it was presented, went to Walter D. Allan for the "British
American Bank Note Company;' in the Canadian Paper Money
Journal.
Tom Denly was recognized as the top SPMC recruiter. He
brought in 36 new members.
tary Currency"; 3rd, Halbert Carmichael, "A Selection of Bird
Notes."
Obsolete Paper Money: 1st, Tom Sheehan, "Panic Scrip of
1907"; 2nd, Robert Schreiner, "Spanish Coins on American
Notes"; 3rd, Phil W. Greenslet, "Selected Franklin Paper—
Portrait by Duplessis."
Issues of the Government of Israel: 1st, Raphael Ellenbogen.
"The First Currency of the State of Israel."
The Farran Zerbe Memorial Award, the highest award
presented by the ANA, went to Robert L. Hendershott.
The Lifetime Achievement Award was presented to Margo
Russell.
The Exemplary Service Award went to Eric P. Newman.
Among the five who received Medals of Merit was Julius
Turoff.
Six members of the ANA received the Glenn Smedley
Memorial Award. Two SPMC members received this award:
Gene Hessler and John Wilson.
IN MEMORIAM
Dr. Darryl Kinnison, SPMC 7543, passed away on
February 5, 1993. His wife, Susan, writes: "He finally lost
his battle with cancer after four years of a courageous
fight. Darryl's interest in his collection, as well as his vast
knowledge of history, served as a wonderful diversion
during his time of illness. Fortunately, he was able to re-
main an active business teacher until October, 1992.
Thank you for helping to make Darryl's life so rewarding:'
Walter D. Allan, Gene Hessler and Robert R. Moon with their awards.
Award Winners at ANA
The following awards were presented at the 1993 American
Numismatic Association convention in Baltimore, Maryland.
U.S. Paper Money: 1st, Raphael Ellenbogen, "Portraits of the
Famous on the Face of Our Large-Size Currency"; 2nd, Greg
D. Ruby, "Series 692 Military Payment Certificates"; 3rd, Wil-
liam H. Horton, "$10 Note Types, 1861 to the Present."
World Paper Money: 1st, John E. Zabel, "The People on the
Notes of Slovakia, 1939-1944"; 2nd, Fred Schwan, "Allied Mili-
Montana Wanted:
Buying obsoletes, ad notes, mining scrip,
fraternal scrip, depression scrip,
clearing house certificates, etc.
(nearly anything fiscal from Montana)
Also National Currency from
Hamilton and Stevensville only.
Douglas McDonald
Box 350093, Grantsdale, MT 59835
SUPPORT YOUR
SPMC DEALERS
Look for their membership cards
in their cases at coin and paper
money shows.
Paper Money Whole No. 167Page 170
NEW MEMBERSHIP COORDINATOR
Ronald HorstmanNEW Louis P .O .mBoxo 636013191St.
MEMBERS
8440 Brenda Rion, Rt. 4 Box 17-H, Blackstone, VA 23824; C, Obso-
lete notes; stocks & bonds.
8441 Romas Tamtis, Taikos 161-20, LT 2017, Vilnius, Lithuania; C,
Former U.S.S.R.
8442 Kevin G. Lafond, P.O. Box 4724, Portsmouth, NH 03802; C,
NH merchant scrip.
8443 Lewis B. Nunnally, Jr., 84 South Lawin Ave., Quezon City 1104,
Philippines; C&D.
8444 W.R. Weiss, Jr., Box 5358, Bethlehem, PA 18015; C&D.
8445 Mark Copas, 8310 Wind Willow, Houston, TX 77040; C, Notes
with sailing ships and whales.
8446 Oscar R. Fonseca Calderon, Aptdo Postal 3701, Correo
Cemtral-Managua, Nicaragua; D, Nicaraguan Paper Money.
8447 Philip R. Varnum, 716 Sandlake Rd., Onalaska, WI 54650; C,
WI obsolete & NBN.
8448 William E. Tilley, 816 Stratford Hall Dr., Va. Beach, VA 23452;
C, U.S.
8449 Kenneth Green, 14308 South Shore Ct., Laurel, MD 20707; C,
Frac. Curr.
8450 Gregory Dembicki, 30 Prescott Terr., Quincy, MA 02169; C,
U.S. & Canada.
8451 Gerald Perkins, 5919 Brushy Creek Tr., Dallas, TX 75252; C,
Mormon money
8452 Richard Warman, 66 Broadmoor Circle, Ormond Beach, FL
32174; C&D, Cleveland, OH silver certificates, C.S.A.
8453 Thomas B. Ross, P.O. Box 4194, Scottsdale, AZ 85261; C, Small-
size U.S.
8454 Paul Willson, 10711 Meridian Ave. #401, Seattle WA 98133; C,
Obsolete notes.
8455 Kenneth Trainor, 10502-32nd SW., Seattle, WA 98146.
8456 Lynn M. Kelley, 1309 Clark Lane, Litchfield, IL 62056; C,
Large-size nationals.
8457 L.D. Mitchell, P.O. Box 5100, Laurel Center Station, Laurel,
MD 20726-5100; C, Radar & notes depicting coins.
8458 Tony Marion, Box 504, Blountville, TN 37617; C&D, C.S.A. &
obsolete TN notes.
8459 Bill Webster, P.O. Box 741, Jericho, NY 11753; C&D, U.S. obso-
lete & France colonial notes.
mone
oP
ymart
Paper Money will accept classified advertising from members only on a basis of
150 per word, with a minimum charge of $3.75. The primary purpose of the ads
is to assist members in exchanging, buying, selling, or locating specialized mate-
rial and disposing of duplicates. Copy must be non-commercial in nature. Copy
must be legibly printed or typed, accompanied by prepayment made payable to
the Society of Paper Money Collectors, and reach the Editor, Gene Hessler, P.O.
Box 8147, St. Louis, MO 63156 by the first of the month preceding the month of
issue (i.e. Dec. 1 for Jan./Feb. issue). Word count: Name and address will count
as five words. All other words and abbreviations, figure combinations and initials
count as separate. No check copies. 10% discount for four or more insertions of
the same copy. Sample ad and word count.
WANTED: CONFEDERATE FACSIMILES by Upham for cash or trade
for FRN block letters, $1 SC, U.S. obsolete. John W. Member, 000 Last
St., New York, N.Y. 10015.
(22 words: $2: SC: U.S.: FRN counted as one word each)
OLD STOCK CERTIFICATES! Catalog plus 3 beautiful certificates
$4.95. Also buy! Ken Prag, Box 531PM, Burlingame, Calif 94011. Phone
(415) 566-6400. (182)
STOCK CERTIFICATE LIST SASE. Specials: 100 different $31; five lots
$130. 20 different railroad stocks, mostly picturing trains, $30; five lots
$125. Satisfaction guaranteed. Always buying. Clinton Hollins, Box
112P, Springfield, VA 22150. (172)
WANTED: ADVERTISING BANKNOTES for dentists, veterinary,
chiropractors, patent medicines (not Morse's Pills). Facsimile or over-
printed notes. Interested in drugstore script. Ben Z. Swanson, Jr., 616
South Hanover Street, Baltimore, Maryland, 21230-3821. (173)
WANTED: LARGE SIZE NATIONAL CURRENCY from Cherokee,
Oklahoma and Grand Rapids, Minnesota for personal collection. Sid
Moore, P.O. Box 57, Cohasset, MN 55721. (168)
OHIO NATIONALS WANTED. Send list of any you have. Also want
Lowell, Tyler, Ryan, Jordan, O'Neill. Lowell Yoder, P.O.B. 444, Holland,
OH 43528, 419-865-5115. (170)
STATE NOTES WANTED: New Jersey-Monmouth County obsolete
bank notes and scrip wanted by serious collector for research and exhi-
bition. Seeking issues from Freehold, Monmouth Bank, Middletown
Point, Howell Works, Keyport, Long Branch, and S. W. & W. A. Torrey-
Manchester. Also Ocean Grove National Bank and Jersey Shore memo-
rabilia. N.B. Buckman, P.O. Box 608, Ocean Grove, N.J. 07756.
1-800-533-6163. (171)
Guntersville, Tucson, Daytona Beach, Honolulu, Zeigler, Mishawaka,
Anamosa, Goff, Hodgenville, Skohegan, Braintree, Ludington, Yazoo
City, Reno. 46 states. Free list (specify state). Apelman, Box 283,
Covington, LA 70434. (169)
JACK FISHER BUYING AND PAYING COLLECTOR PRICES for
Michigan First Charter Nationals, all Kalamazoo, Michigan notes,
Second and Third Charter $100 all States, 1935 Canada $500 and
$1,000. Jack Fisher 3123 Bronson Boulevard, Kalamazoo, MI 49008.
(172)
WANTED: NEW JERSEY NATIONAL BANK NOTES, LARGE &
SMALL, Blackwood, Cape May Court House, Clemonton, Lakehurst,
Laurel Springs, Mays Landing, New Egypt, North Merchantville,
Pedricktown, Penn's Grove, Port Norris, Seabright, Somers Point, Tuck-
ahoe, Vineland, Westville, Williamstown, other towns needed, doing
research. Send photocopy; price. Robert Kotcher, Box 110, East Orange,
NI, 07019.
PAPER MONEY ISSUES WANTED to complete a set: Vol. 2, No. 1
Winter 1973; Vol. 2, No. 2, Spring 1963. Robert R. Moon, P.O. Box 81,
Kinderhook, NY 12106. (A)
DALLAS, TX NATIONAL BANK NOTES WANTED, large or small.
Frank Clark, P.O. Box 117060, Carrollton, TX 75011. (A)
WANTED: JERSEY CITY, NJ NATIONALS and other bank-related ma-
terial including checks, passbooks, bank histories, bank stocks, and
bank postcards. Michael G. Kotora, 37 College Dr., Apt. 3G, Jersey City,
NJ 07305. (A)
WANTED: Information on 1907 clearinghouse certs. from all states.
Send photocopy and price if for sale. T.W. Sheehan, P.O. Box 14, Seattle,
WA 98111-0014; (206) 999-3607. (A)
ST. LOUIS, MO NATIONALS, OBSOLETES AND BANK CHECKS
WANTED. Ronald Horstman, Box 6011, St. Louis, MO 63139.
(A)
hat we have
done for others,
we can do for you.
Telephone Dr. Richard Bagg
today, or use the coupon
provided. Either way, it may be
►ifll 4144HEN1-1
•. •
thillt ib t,,,No e
02006
,1) ,4--- ktf, SO85,
.-1•••/",,,`A.
gOotig
ALL.U1VJ ,
This "Second Charter Period" $20 National Bank Note
grad ing Fine to Very Fine sold for a phenomenal
55,5 00 in one of our recent sales.
Paper Money Whole No. 167 Page 171
Realize
the best prices
for your paper money.
.,‘ o with
the world's
most successful
auction company—
Auctions by Bowers and
Merena, Inc. When you consign
your collection or individual important
items, you go with a firm with an
unequaled record of success!
ver the years we
have handled some
of the most important
paper money collections
ever to be sold.
Along the way our auctions have
garnered numerous price records for
our consignors. Indeed, many of our
sales establish new price records on an
ongoing basis.
hinking of selling
your collection or de-
sirable individual notes?
Right now we are accepting con-
signments for our next several New
York City and Los Angeles sales, or our
annual Florida United Numismatists
sale. Your call to Dr. Richard Bagg, Di-
rector of Auctions, at 1-800458-4646
will bring complete information con-
cerning how you can realize the best
price for your currency, in a trans-
action which you, like thousands of
others, will find to be profitable and
enjoyable.
the most profitable move you have
ever made!
Dear Rick Bagg: PM 9/10 -93
Please tell me how I can include my paper
money in an upcoming auction. I understand
that all information will he kept confidential.
NAME
ADDRESS
CITY
STATE ZIP
q lam thinking about selling.Pleasecontact me.
BRIEF DESCRIPTION OF HOLDINGS
DAYEIME TELEPHONE NUMBER
action by Bowers and Merena, Inc.
Box 1224 • Wolfeboro, NH 03894
-Toll-free: 1-800-458-4646/ In NH: 1-603-569-5095/ Fax: 1-603-569-5319
0
0
N
N
CO
a) 69
cm ON o aia c‘i c.) cr;
1--- Lc-) CO "E a)
(N
69 a. ,..: c7)LL
O . >.-
ai >- r75 C Q.
0 as
cc a) w ) 0 6 E
,...
Q. > Z 6: Z F- 7 cou-)
O w c
CD 0 g• 8 g w ai o
69
Z ,, r.,:
. 4 0 45 ,— CC 0 = 0)
-03 Cr
co
i- 0
45
1-z c co
5 6) .4
.2 c`16 cz :E) 69 ■•1 CA
o 6 w E co w'9C.T4
a
c
cc - _. 0 .....a- (/) -a 6
it'4 ,4 eqrn
•
(n m o
D a) ---, 0 --. 07 u.i ca. O@ C.) kr)
6 t
a21 W ',1 a:
To
0 a_ as• a g (i-_
W • _ E To (A 1-07) 1._
o
.: Lo
I- --, c.i
u) • -0
-L-•' °,.) g `I- ,'•1.4.
E; .1-
0., x
x i CI) ,..., M ,o. 0_69 0 0 0 °76 f4
I- o_ 0 - - -6
a >-, a) 1. u_ N ? Z TD 0 Z 07
) E .6 iitsoZ) 0 71-
a4 u. 0 I--- cc 0 ,- a 0 op • m 3 y 13.. 7) 7 H co
co 0
° ct a;
u_ 7/5 c)- co CD 1 'ft I ,',-, o < Ti) i _c) .- a)
N (-, I Li] .cn a Z 1: 05 >, cf) CI) ,,-; 6, -
ai
ca)
C 0 T•
O „, u) kr) ,-, cr,
Z -c 0 u.1 0
92 V) _1 - 2 I- `-' 'n ca Y . 0 -,c; ,c3
a5 (.5.)
M 0c
,-, ccW.I W u-I
•
>- , -.' E c mtu
< cp a c4-)
p 0 co o_Z m 1-,) 92 a 0 c, o > ca _1 ›,
cS 9) _C (9
< -0 '— .6 ° q Xh.) >2 '- o 0 a G < ,-) u) 2 ,g z '--6 c -ED 0
a
■••••- V)
# CC CO'? 2 -0 E -0 u", 0 2- 0; 0 0 Lt' 0 al _. E ,-) 'El °= 1.1
D a
66' -0 Ma_ <
0
r- c rZ C‘i-0 66
Zi
—.)
Lij 0 cri 69 > <
Cs1 Z >, cr) p
C..) ct 2 'N
cc a) c c.i LU
69
(>-) a
ILIH Lo Z
cC1 -° 0
, a (')
co 0 a 6 0cx t o)j r,
z
,..:
0 0_< t'a) r.) CL 05 • u)
::
"C.-_ 7:,_
U_
0. 4'; W 0
W ,r .O -(e a a: rT -,4
2 E coLLux -,„0 w : ',
E
Ts' --'m cf)
c) ,..-,
- 5 .4 cc ,... 0
a)
> c
• I-- a , ,- CI- RS IL 0 CO
69- 0
2 i u_ Q = c) 69
W Z
co E
_1 0 O -2 (r) (13
-.
E C.) 0 0 as up co0 t-' 2 _J (1) L1.1 C
0
..c
u-> -g
w
.=
,o-
Page 172
Paper Money Whole No. 167
Paper Money Whole No. 167
Page 173
WANTED TO BUY
Collections, lots, accumulations, singles, U.S., obsoletes, stock certificates, checks, counterfeit detectors, historical documents, foreign currency,
U.S. coins, medals, tokens. I buy it all—not just the "cream." The various guides are just that—guides. I will pay over "catalog" for what
I want and "market" for the balance. The "Proof"—the availability of the many rarities I have for sale—came from knowledgeable collec-
tors and dealers who sold them to me for "top prices." Quick confidential transactions with immediate payment—no deal too large.
IOWA NATIONALS
BLACK CHARTER 2130 $5 Series 1875, First of Red Oak, very good to fine, margins all
around both sides, decent appearance for grade. ONLY 3 KNOWN (1 in Higgins
museum, other probably not available for many years). Only Iowa bank to issue black
charters. Call for price.
$10 1902 Atlantic Nat'l, 2762, XF face/VF back-125.
$20 1929 T-1, First of Bagley, 6995, VF, nice margins-125.
$20 1882-1908 Bedford Nat'l. 5165, VF-365.
$20 1902 Bedford Nat'l, 5165, XF, nice margins-275.
$20 1902-1908 First of Burlington. 351, VG-135.
$20 1902 ABRAM RUTT of Casey, 8099, VF-375.
$20 1902 Cedar Rapids Nat'l, 3643, Choice AU-235.
$10 1882 VALUE BACK, Chariton Nat'l, 6014, VF-695 .
$10 1902 Chariton And Lucas County of Chariton, 9024 GEM-650.
$20 1902 Same bank, GEM-750.
$20 1902 Same bank, Unc, close top-350.
$5 1871 Original, First of Charles City, no charter # (1810), VG, small repairs-235.
$5 Series 1875, First of Charles City, 1810, Choice Unc with lovely blue top (fibers) vibrant
colors and signatures-1950.
$10 Series 1875, City of Clinton, 2469, GEM UNC with nice colors and margins, signed by
A(ass't) Cash. and V(vice) Pres., UNLISTED! H-0 lists "First Charter, Original Issue"
but not Series 1875-4500.
$10 1882-1908 City of Clinton, 2469, AU with nice colors and margins-575.
$20 1882 VALUE BACK City of Clinton, 2469, XF-1275.
$10 1902 Merchants of Clinton, 3736, Choice Unc.-495.
$20 1902 Same bank, VF, nice margins all around both sides-145.
$10 1902 Okey-Vernon of Corning, 8725, Fine-95.
$20 1929 T-2. First in Council Bluffs, 14028, F-VF-95.
$10 1902 Creston Nat'l, 2833, VG, nice margins-110.
$20 1929 Ti.- First in Creston, 12636, XF-99.
$20 1929 T-2, Same Bank, Fine-95.
$10 Series 1875, Citizens of Davenport, 1671, UNC, decent margins sides and bottom but
top cut unevenly with shears dipping into margin at center-2450.
$20 1902-1908 Iowa of Davenport, 4022, Fine-125.
$20 1882 Brown Back, First of Denison, 4784, VF-550.
$10 1882 Brown Back, Citizens of Des Moines, 1970, VG, also postcard with picture of
Citizens National Bank Bldg.-350.
$10 1882-1908 Des Moines Nat'l, 2583, Fine-195.
$5 1882 VALUE BACK, same bank, VG-195.
$20 1902 Same bank, VG-49.
$5 1902 Iowa National of Des Moines, 2307. VG, top right corner gone —25.
$10 1902 Same bank, AU. lavender signatures-245.
$10 1929 T-1 Iowa—Des Moines Nat'l Bank & Trust, 2307, XF-19.
$5 1902 Valley Nat'l of Des Moines, 2886, Gem Unc except top right corner close. no
signatures-375.
$10 1902 Same bank, pen & ink signatures, Crawford as V. President, M. overprint,
VF-59.
$10 1902 Same bank, printed sigs. (Crawford as President) no "M" overprint, GEM
UNC-575.
$20 1902 Same Bank. Choice AU, "M" overprint, no sigs-169.
$20 1929 Ti- Same bank, desirable #424 (radar #), Choice AU-149.
$20 1882 VALUE BACK, 5934, XF-1450.
$10 1902-1908 First of Elliott, 6857, VG, nice margins all around both sides-215,
$20 1882 VALUE BACK, Commercial of Essex, 5803, Choice Unc, sides and bottom mar-
gins wide, top close in center-2950.
$20 1929 Ti- First of Essex, 5738, Fine-125.
$5 1902 First of Fredericksburg, 10541, Unc. with nice margins-450.
$20 1882 Brown Back Mills County of Glenwood, 1862, F-VF, bold pen sigs-750.
$10 1902 Griswold Nat'!, 8915, VG-149.
$20 1902-1908 Citizens of Hampton, 7843, VG, bold pen sigs.-95.
$20 1902 Peoples of Independence. 2187, Choice AU-275.
$10 1902 Exchange of Leon, 5489, Choice Unc-495.
$20 1882 Brown Back, First of Lenox, 5517, F-VF, nice margins all around-425.
$5 1882-1908 First of Lenox, 5517, VF-295.
$20 1929 T-1 same bank, serial #36, Fine-125,
$20 1929 T-1 First of Missouri Valley, 3189, VG-95.
$5 1882 VALUE BACK, First of New Hampton, 2588, AU-1750.
$10 1902 First of Logan, 6771, VG-125.
$20 1902-1908 First of Logan, 6771, VF/VG-165.
$2 1865 ORIGINAL SERIES, First of Newton. 650 OVERPRINT, Good (legible), margins all
around but slightly irregular, etc.-895.
$20 VALUE BACK, First of Oelwein, 5778. Choice AU 1950.
$20 1882 Brown Back, Guthrie County of Panora, 3226, VG/G, strong sigs., back
"washed"-225.
$10 1902 First of Prescott, 5912, Fine-150
$10 1902 First of Randolf, 7833, VF-250.
$1 1873 ORIGINAL SERIES, First of Red Oak, 2130 OVERPRINT, XF, nice colors. broad
margins all around both sides-985.
$10 1902 Red Oak Nat'l, 3055, VG, strong sigs.-125.
$20 1902 same bank, Fine, same sigs-150.
$20 1929 T-1 First of Red Oak. 2130. VF-75.
$10 1882 Brown Back, First of Shenandoah, 2363 acquired as "VG" (I grade it about
Good)-375.
$10 1902 Shenadoah Nat'l, 2679, VG-175.
$20 1902 same bank, 2679 VG-225.
$20 1929 T-1, Shenandoah Nat'l, 12950, VG-75.
$101902 First of Sioux City, 1757, Very Choice AU, nice colors, margins, sigs.-150.
$100 1882-1908. Live Stock of Sioux City, 5022, XF, nice colors and margins all around
both sides, bold sigs., popular "type"-2750.
$20 1929 T-1, First of Stanton, 6434, VG-235.
$20 1902 First of Sumner, 8198, VF-XF, nice margins all around both sides, bold
$10 1902 First of Tabor, 4609, Very Choice AU, bold green ink sigs.-595.
$20 1902 First of Traer, 5135, Fine-175.
$5 1875 SERIES, First of Villisca, 2766, VF/F, bold sigs.-750.
$20 1902-1908 Villisca Nat'l, 7506, Fine-195.
$20 1929 T-1 Villisca Nat'l, 7506, Fine-125.
$10 1921 T-1 First of Waverly, 3105, Choice Unc-150.
$5 1875 SERIES, Citizens of Winterset, 2002 (RADAR CHARTER—same forward and back-
ward), VF-XF, bright colors, bold sigs-750.
$20 1929 T-1 Citizens of Winterset, 2002 (RADAR CHARTER) F/VG-95,
$20 1902 First of Woodbine, 4745, Very Choice AU, nice colors and margins, bold violet
sigs-475.
IOWA OBSOLETE CURRENCY
$1 1857 The Dubuque Western Rail Road Compy., Dubuque, VF-95.
$5 1857 Same issue, VF-95.
$101857 Same issue, "X" instead of numeral as above, AU-125.
$3 1858 The Dubuque Central Improvement Company, Unc.-75.
$1 1858 Treasurer of Lyons City, Unc but tip of lower right gone-50.
$2 1859 Same issue, UNC, tiny punchhole (cancel?)-95.
$5 1858 Same issue, AU-95.
$1 1857 NEBRASKA TERRITORY, The City of Omaha. VF-35.
Satisfaction Guaranteed-15 day return privilege—please include $5 for postage/insurance etc. on orders under $200. Nationals on all states
and some Territories available—Black Charters, CAL. Nat'l GOLD BANKS $5-$100 ($50 & $100 Kidder Nat'l GOLD BANK color Specimens also)—
U.S. 1815-1861-65 Interest Bearing-1861 Demand-1862-1923 Legals $1 to $100 (have $1001862, etc)-1878-1923 (yes have triple sigs.)-
Coin Notes-1915-18 FRBN $1-1,000-1914 FEDS—GOLD NOTES 1866-1922 $10-1,000 (1866 $100 UNIQUE, etc.)—SMALL SIZE (F-1700,
2308, etc). Star Numbers, Errors, Inverts, Low Numbers. Send want list. I don't claim to have the "largest stock" of currency but I do claim to
have handled over 95% of the currency listed in Frdbg (in the last 50 years or so) and occasionally I recycle some. Stock kept in bank vaults.
Open by appointment.
A.M. KAGIN Collector Since 1928; Professional Since 1933
910 Insurance Exchange Bldg. PNG #14, A Founding Charter Member; Past Pres. 1964-6
Des Moines, Iowa 50309
ANA Life Member 103, Governor 1983-87
(515) 243-7363
50 Year Gold Recipient 1988
EARLY
AMERICAN
NUMISMATICS
We maintain the
LARGEST
e of
65'
•
*619-273-3566
ACTIVE INVENTORY
IN THE WORLD!
COLONIAL &
CONTINENTAL
CURRENCY
SEND US YOUR
WANT LISTS.
FREE PRICE
LISTS AVAILABLE.
SPECIALIZING IN: SERVICES:
q Colonial Coins q Portfolio
q
q
Colonial Currency
Rare & Choice Type q
Development
Major Show EARLY AMERICAN NUMISMATICS
Coins Coverage c/o Dana Linett
q Pre-1800 Fiscal Paper q Auction
q Encased Postage Stamps Attendance q P.O. Box 2442 q LaJolla, CA 92038 q
619-273-3566
Members: Life ANA, CSNA-EAC, SPMC, FUN, ANACS
1 c 1-IEST PFD ICES PA. I C)
V" IC) Pt A L_ IL_
4C3 I_ C) NI I 44n. L_
.& PRE 1 800 41k FZ I
IN1
IR. E
Ft I F)
EC) S LOTTERY '1r
TICKETS_FCE -Us..
s Ca.ONOAL FRADANa 000,0NO.
0 101 TREMONT ST.,SUITE 501
z`f 7.) BOSTON, MA 021 08
James E. Skalbe
(617) 695-1652 Russell R. Smith
MEMBER:
ANS,ANA,SPMC,CNA, SCPMC,EAC,NENA,CWTS,ASCC, SAN,APS,MAS,AP1C,FUN,ETC
Page 174 Paper Money Whole No. 167
Nobody pays more than Huntoon for
ARIZONA & WYOMING
state and territorial Nationals
AIL
pm :N.
A•15,`
ferir-Z,40Z
V205926E
Peter Huntoon
P.O. Box 3681
Laramie, WY 82071
(307) 742-2217
BUYING and SELLING
PAPER MONEY
U.S., All types
Thousands of Nationals, Large and Small,
Silver Certificates, U.S. Notes, Gold Cer-
tificates, Treasury Notes, Federal Reserve
Notes, Fractional, Continental, Colonial,
Obsoletes, Depression Scrip, Checks,
Stocks, etc.
Foreign Notes from over 250 Countries
Paper Money Books and Supplies
Send us your Want List ... or ...
Ship your material for a fair offer
LOWELL C. HORWEDEL
P.O. BOX 2395
WEST LAFAYETTE, IN 47906
SPMC #2907 ANA LM #1503
"""":""''''ai(001000100iNifit 1-76037E.
M
1144N:t."/'"I' 1.17ie2" UN
ROSEMOITI%
3191
I COLLECT
MINNESOTA OBSOLETE CURRENCY
and NATIONAL BANK NOTES
Please offer what you have for sale.
Charles C. Parrish
P.O. Box 481
Rosemount, Minnesota 55068
(612) 423-1039
SPMC 7456 — PCDA — LM ANA Since 1976
HARRY
IS BUYING
NATIONALS - LARGE
AND SMALL
UNCUT SHEETS
TYPE NOTES
UNUSUAL SERIAL NUMBERS
OBSOLETES
ERRORS
HARRY E. JONES
PO Box 30369
Cleveland, Ohio 44130
216.884-0701
Paper Money Whole No. 167
Page 175
TAM
NigstiwftliAmspyilikAisnA
67431
111:7117.0.777 Orrrali9MTTIS477135,11,17,M5493 .21
CANADIAN
BOUGHT AND SOLD
•
CHARTERED BANKNOTES.
•
DOMINION OF CANADA.
• BANK OF CANADA.
•
CHEQUES, SCRIP, BONDS &
BOOKS.
FREE PRICE LIST
CHARLES D. MOORE
P.O. BOX 1296P
LEWISTON, NY 14092-1296
(416) 468-2312
LIFE MEMBER A.N.A. #1995 C.N.A. #143 C.P.M.S. #11
MYLAR D CURRENCY HOLDERS
This month I am pleased to report that all sizes are in stock in large
quantities so orders received today go out today. The past four
years of selling these holders has been great and many collections
I buy now are finely preserved in these. For those who have not
converted, an article published this past fall in Currency Dealer
Newsletter tells it better than I can. Should you want a copy send
a stamped self-addressed #10 business envelope for a free copy.
Prices did go up due to a major rise in the cost of the raw
material from the suppliers and the fact that the plant workers want
things like pay raises etc. but don't let a few cents cost you hun-
dreds of dollars. You do know - penny wise and pound foolish.
SIZE INCHES 50 100 500 1000
Fractional 4 3/4 x 2 3/4 $15.00 $28.00 $127.00 $218.00
Colonial 5 1 /2x33/16 16.50 30.50 138.00 255.00
Small Currency 65/8x 2 7 /8 16.75 32.00 142.00 265.00
Large Currency x 3 1 /2 20.00 36.50 167.00 310.00
Check Size 95/8x 4 1 /4 25.00 46.00 209.00 385.00
Baseball Card Std 2 3/4x 33/4 14.50 26.00 119.00 219.00
Baseball Bowman 2 7/8 x 4 15.50 28.00 132.00 238.00
Obsolete currency sheet holders 8 3 /4x 14, $1.20 each,
minimum 10 Pcs.
National currency sheet holders 8 1 /2 x 17 1 /2, $2.50 each
17 1 /2" side open, minimum 10 Pcs.
SHIPPING IN THE U.S. IS INCLUDED FREE OF CHARGE
Please note: all notice to MYLAR R mean , uncoated archival
quality MYLAR R type D by Dupont Co. or equivalent material
by ICI Corp. Melinex type 516.
DENLY'S OF BOSTON
P.O. Box 1010 617-482-8477 Boston, MA 02205
800-HI-DENLY FAX 617-357-8163
Page 176
Paper Money Whole No. 167
BUYING and SELLING
CSA and Obsolete Notes
CSA Bonds, Stocks &
Financial Items
Extensive Catalog for $3.00,
Refundable With Order
ANA-LM
SCNA
PCDA
HUGH SHULL
P.O. Box 712, Leesville, SC 29070 / (803) 532-6747
FAX 803-532-1182
SPMC-LM
BRNA
FUN
BOOKS ON PAPER MONEY
Arkansas Obsolete Notes & Script, Bothell $22 Territorials-US Territorial National Bank Notes, Huntoon $20
Florida, Cassidy (Incl nails C obsolete) $29 Vermont Obsolete Notes & Scrip, Coulter $20
Indiana Obsolete Notes & Scrip, Wolka $22 National Bank Notes, Hickman & Oakes 2nd ed $95
Indian Territory/Oklahoma/Kansas Obsolete Notes & Scrip,
Burgett and Whitfield $20
US Obsolete Bank Notes 1782-1866, Haxby 4 vol
Early Paper Money of America, 3rd ed., Newman
$195
$49
Iowa Obsolete Notes & Scrip, Oakes $20 Depression Scrip of the US 1930s $27
Minnesota Obsolete Notes & Scrip, Rockholt $20 World Paper Money 6th ed., general issues $49
Pennsylvania Obsolete Notes & Scrip, Hoober $35 World Paper Money 6th ed., specialized issues $55
North Carolina Obsolete Notes, Pennell rpnt $10 Confederate & Southern States Bonds, Criswell $25
Rhode Island & The Providence Plantations Obsolete Confederate States Paper Money, Slabaugh $9
Notes & Scrip, Durand $25 Civil War Sutler Tokens & Cardboard Scrip, Schenkman $27
10% off on five or more books • Non-SPMC members add: $3 for one book, $5 for two books, $7 for three or more books
CLASSIC COINS - P.O. Box 95-Allen, MI 49227
-
k'
WE ARE ALWAYS
BUYING
■ FRACTIONAL CURRENCY
■ ENCASED POSTAGE
■ LARGE SIZE CURRENCY
■ COLONIAL CURRENCY
WRITE, CALL OR SHIP:
.14c1Au
-TO Tr /10
dl
RERN (CP inc.
LEN and JEAN GLAZER
(718) 268.3221
POST OFFICE BOX 111
FOREST HILLS, N.Y. 11375
, 1, 11,!. ..4--
.,..,, ‘1,' 1( X, 141- .." 1 . 1
)dtl,P \ 11 R NIONI..)
,'(0I II( 101(S
,,,/ _ im
,
jlel am .42 _ \
Charter Member
Inside: IIINS Congress takes
center of numismatic stage
RRODE FOR PAPER MONEY COLLECTORS
Vo, 20. No l0 • Octobe■
• loka
Major sale
1002
planned for St. Louis
Joe
Confederate
notes missing from
Ast
SPECIAL
ISSUE
Intemational
Bonk Note
Society
Con►ess
tfr
•-... ..■ ...
'rr ...";:•,::., ". 4". 1.■ ,
';',- 44.":"...:7.", '4''. 1., -, .17.. tr t•---- ,....4
tr.**2„,,,,, 04:1;,:°,..
-.. ...^'P.,:...
et;f1gps 4.1.,.....
- ,...",,, °"4":-.
°- .4,-. 2....
-... ...,--. ..sr
U.S. paper money collectors! Get more news of
your particular collecting interest, every
month, in Bank Note Reporter.
Bank Note Reporter is your one-stop paper
money information source. Make sure you're
in the know, by entering your subscription
now.
Bank Note Reporter is the only independently
produced publication that blankets the entire
paper money spectrum. You'll get all the news
you need. And, you'll find it a convenient way
to keep current on U.S. and world notes, plus
all other related fiscal paper.
Take advantage of our special half-year offer.
Or request a free sample issue (U.S. addresses
only).
r 1
Name
001
Address
Enter my Bank Note Reporter subscription as
City
follows:
( ) New State
( ) Renewal/Extension (attach your mailing label)
( ) MasterCard/VISA
( ) 1/2 year (6 issues)
$15.75. Credit Card No
Foreign addresses send $20.95. Payable in U.S. funds. Expires: Mo
( ) Send me a free sample issue (U.S.
Signature
addresses only)
Note: Charge orders will be billed as Krause
( ) Check or money order (to Bank Note Reporter) Publications.
ABAE45JL
Mail to:
.culatio
dt.
/00 E. State St., Iola
Zip
Yr
Tweet
More like this
- Paper Money- Vol. XXXIII, No. 5- Whole No. 173- September- October 1994
- Paper Money- Vol. XXII, No. 5- Whole No. 107- September- October 1983
- Paper Money- Vol. XXIII, No. 5- Whole No. 113- September- October 1984
- Paper Money- Vol. LVI, No. 5- Whole No. 311- September/October 2017
- Paper Money- Vol. LIII, No. 5- Whole No. 293- September-October 2014