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Table of Contents
1111
VOL. XXXIV No. 1
WHOLE No. 175
JAN/FEB 1995
JUAN RODRIGUEZ CABRILLO
We Buy, Sell & Auction
The Very Best In Paper Money,
Stocks & Bonds, Coins & Autographs
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PAPER A
cot .i.EcToRs
I NC
Paper Money Whole No. 175 Page 1
11
Official Bimonthly Publication of
The Society of Paper Money Collectors, Inc.
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.,
1995. 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 1 TIME 3 TIMES 6 TIMES
Outside
Back Cover
$152 $420 $825
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Back Cover $145 $405 $798
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To keep rates at a minimum, advertising must be
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ule. In exceptional cases where special artwork or
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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.
All advertising copy and correspondence should
be sent to the Editor.
Vol. XXXIV No. 1 Whole No. 175 JAN/FEB 1995
ISSN 0031-1162
GENE HESSLER, Editor, P.O. Box 8147, St. Louis, MO 63156
Manuscripts (mss), not under consideration elsewhere, and publications for
review should be sent to the Editor. Accepted 711S5 will be published as soon
as possible; however, publication in a specific issue cannot be guaranteed.
Opinions expressed by authors do not necessarily reflect those of the SPMC.
Mss are to be typed on one side only, double-spaced with at least one-inch
margins. A copy should be retained by the author. The author's name, ad-
dress and telephone number should appear on the first page.
In addition, you may also submit a copy on a 31/4 or 5'/4 inch MS DOS
disk, identified with the name and version of software used: Microsoft Word,
Word Perfect or text (ASCII) are preferred. Avoid unnecessary carriage returns,
spaces, tabs and formatting. Avoid tabs or extra lines to begin paragraphs,
and in tables use only one tab per column. If disk is submitted, double-spaced
printout must accompany disk.
IN THIS ISSUE
QUASI-GOVERNMENT CHECKS
Forrest W. Daniels 3
THE BANKER'S WORLD'S FAIR NATIONAL BANK OF ST. LOUIS,
A Sequel
Dave Grant 6
COPIES OF THE TYPE 19 CONFEDERATE NOTE:
COUNTERFEITS OR FACSIMII,ES?
Brent Hughes 10
PRINTING IMPRESSIONS INTENDED FOR HEATH'S
INFALLIBLE COUNTERFEIT DETECTOR
Gene Hessler 15
WISMER CATALOG STATUS
Steve Whitfield 17
THE TYPE OR VARIETY DILEMMA FOR COLLECTORS
AND CATALOGERS
Steve Whitfield
19
MY SUMMER VACATION: A VISIT TO THE HIGGINS MUSEUM
Bob Cochran
22
COMPOUND INTEREST TREASURY NOTES WITH THE
INCORRECT DATE: A SECOND LOOK
Gene Hessler
24
THE BUCK STARTS HERE
Gene Hessler
25
SMALL-SIZE NATIONAL BANK NOTE SURFACES
Bob Andrews
26
CATALOG OF ENVELOPED POSTAGE
Milton R. Friedberg
27
SOCIETY FEATURES
NOTES FROM ALL OVER
29
SPMC MEMBERS HONORED BY ANS
29
FROM THE SECRETARY'S MAILBAG
30
NEW MEMBERS
30
MONEY MART 31
ON THE COVER. This portrait of Juan Rodriguez Cabrillo, discoverer of Califor-
nia in 1542, was engraved by Armandina Lozano.
Change of address, and inquiries concerning non -delivery of PAPER MONEY and
for additional copies of this issue, contact the Secretary; the address is on the
next page.
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 KYZ1VAT, 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 J. GALIETTE, 10 Wilcox Lane, Avon, CT 06001
LIBRARIAN
ROGER H. DURAND, P.O. Box 186, Rehoboth, MA 02769
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-
defies 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.
•
UMIS AL_U INC.
P.O. BOX 84 • NANUET, N.Y 10954
BUYING / SELLING: OBSOLETE EECURRENCY, NATIONALSUNCUT SHTS, PROOFS, SCRIP
BARRY WEXLER, Pres. Member: SPMC, PCDA, ANA, FUN, GENA, ASCC (914) 352.9077
Page 2 Paper Money Whole No. 175
attift, .*tats Ruilroal,Milititit rat ion,
DIRECTOR GENERAL. or RAILROADS.
ST. PAUL UNION DEPOT.
THIS DRAFT IS NOT VALID UNLESS SIGNED BY C P NASH, rcocRn4 TREASURER,
•
pay lo ae order C. H. ;lunch
SIXTY DDL L A DI4I1
^eioIAe dmounedueforservicesas Switohtander
pi a 6 e roa.sh, Me , ,FiRSTNAT/ONALBANACSTPALIL,MINN.
NOT VALID ir DRAWN
FOR MORE THAN
ii-eiLFRIAILitiOF TWO HUNDRED 00 LLA RS
7995
eS Paul,"„(lkyit D ?91919
Paper Money Whole No. 175 Page 3
QUASI-GOVERNMENT
CHECKS
by FORREST W. DANIELS
T
HERE is a class of United States government obligations
a step below monetary currency, checks and other direct
payment forms of federal funds. These are checks
drawn by federal officers on private funds, or on private ac-
counts of federal funds. A few examples will illustrate this class
of payment forms.
But first, some expansion of the intermediary class of pay-
ment forms may be useful. Neil Shafer's column in the August
1991 Bank Note Reporter illustrates and defines several of the
wide variety of government checks. There are, of course, many
others, even down to a handwritten draft drawn March 7, 1865,
on a U.S. Army quartermaster agent by a Civil War forage
officer for payment of $200 from his "Hay account!'The Official
Business postal cover in which that draft was mailed has five
red wax seals with the impression of an Indian head one-cent
piece.
Other unusual direct government payment forms include
Drawback Certificates of the Custom House Collector's Office
(PAPER MONEY, No. 47, 1973), and Department of Agriculture
Commodity Credit Corporation Commodity Certificates,
known as PIK (payment in kind) certificates. The latter come in
both lithograph and intaglio printed forms. Undoubtedly
there are many other printed forms to represent payment by
various other agencies of the federal government.
Before leaving government checks, here is an informative
anecdote. Contemporary government checks have an expiry
date for cashing. So when a low-value Social Security adjust-
ment check was uncashed after that date, a telephone call came
to the payee asking if the check had been received, cashed or
whatever. The check monitor was informed the check had been
placed in a numismatic collection and would not be cashed. It
was a first for that explanation—for that caller, at least.
Now to the subject of this story: quasi-government checks
for non-government money and its reverse. These are only
three examples of an unknown number; they are from the Rail-
road Administration, the Secretary of War and the Post Office
Department.
United States Railroad Administration
When the United States entered World I the movement of mili-
tary freight was a problem for the government. Delay and
growing congestion resulted from lack of cooperation between
the many railroad companies, uncoordinated schedules,
round-about routing and lack of standardized methods. There
was also the threat of a strike by rail workers to demand an
eight-hour work day. The government decided to take over full
operation of the carriers and Secretary of the Treasury William
G. McAdoo was appointed director general of the United States
Railroad Administration with "paramount authority" in all
matters pertaining to railroad transportation effective De-
cember 29, 1917.
Operation of the railroads was placed on a common needs
basis rather than any advantage to, or competition between,
the several corporations. Steps were taken to pool cars,
locomotive and repair facilities, and terminals. More efficiency
resulted from standardization in construction of freight cars
and locomotives and classification of freight. The results
produced by federal operation of the system as a single line
made a great impression on both government administrators
and railroad management. It resulted in legislative action in
1920 to provide better balance in the nation's railroad
operation.
One reference says that federal control of the rail system
lasted twenty-two months; the next sentence says that in
twenty-six months the loss to the government was a billion
dollars. The bill, of course, was paid by the nation's taxpayers.
It is obvious that regional headquarters and payment centers
were established in several hub cities. A salary check, denomi-
nated a draft, drawn by "Federal Treasurer" C.P. Nash at the St.
Paul Union Depot, and payable through the First National
Bank, St. Paul, is representative of this class of obligations.
Since the Railroad Administration was an official agency of the
government, however temporary, the quasi-ness of the checks
may not stand rigorous scrutiny.
Salary check of the United States Railroad Administration, St. Paul Union Depot.
IWAR DEPARTMENT OPERATING L
CERTAIN FACILITIES OF 16
MONTGONU,Y & Co.
5 SGEb
THROUOH
ONLY CONTINENTAL ILLINOIS NATIONAL SANK CAPFAINI N A 011 NTS ANO TRUST COMPANY OF CHICAGO F. 0.
LESS THAN
EIGHT SPIE, P:PRi,E;:r4,1V: CF THE
DOLLARS :ICRETARY of CUOCCIA41;
(vLcAsst ENDORSE ON OTHER SIRE)
523§8
THE SECRETARY OF. WAR, CUSTODIAN JUN45S
CENTS 08 CENTS
ONLY
NOT OVER
ONE DOLLAR
THIS REPRESENTS THE AMOUNT DUE YOU.
IT CAN BE CASHED AT ANY BANK.
TO THE SPECIAL REPRESENTATIVE OF
onhattan Compr
Netuz:Vorit,/
Post Master at
--has deposited in this Bank
J.: -.uto the credit
POST OFFICE
ta
CI -?.:11
bi :5-0
1. to)
3. +a
+4.4a
mama
Deposit receipt for Post Office funds at the Manhattan Company in 1835.
is
SIGNED DUPLICATES.
Teller.
Page 4
Paper Money Whole No. 175
Montgomery Ward & Co. refund check issued under the authority of the Secretary of Wan.
Special Representative of the Secretary of War, Custodian
The management of Montgomery Ward & Co., under Chair-
man Sewell Avery, carried on a long controversy with federal
agencies set up to regulate wages and prices during World War
II. In a confrontation related to a strike, in April 1944, Mr. Avery
was carried bodily from his office by two soldiers; a photo-
graph of the ejection was a prize news picture of the year. An
under-secretary of commerce was placed in charge of the com-
pany at that time.
On December 28, 1944, the army, under a presidential order,
took over Montgomery Ward property in Chicago and six other
cities: Detroit, St. Paul, Denver, Jamaica, NY, Portland, OR, and
San Rafael, CA. The reason given was that strikes had occurred
at several war plants, and if any other strikes followed it could
seriously impair the entire war price and stabilization pro-
gram. Another strike was threatened at Wards and the War
Labor Board ordered the company to negotiate with one of its
unions; the company refused, contending that Wards was not
a war plant and that the WLB's directive to grant certain union
demands were advisory, not compulsory. President Roosevelt
sent in the troops.
During the occupation of Montgomery Ward & Co., business
was carried on as usual under supervision of the Special
Representative of the Secretary of War, Custodian. One of the
specific duties of the Special Representative was to make re-
funds for overages sent by mail-order customers in the form of
refund checks and those were issued in the name of H.F. Gillie,
Captain F.D. (Possibly Fiscal Department.)
The refund checks were payable through Continental Illinois
National Bank and Trust Company, Chicago, and often were
for amounts less than a dollar with the cents value imprinted
on the form. Similar refund checks may have been issued from
other occupied mail order centers with other signatures and
drawn on other banks.
Postmaster's Account For Postal Funds
Perhaps the widest scattering of public funds was held in thou-
sands of postmasters' accounts in as many local banks. Security
for the postal funds was paramount and postmasters were per-
sonally responsible for them.
In cities and towns where there was no designated deposi-
tory for post office funds, postmasters were authorized to open
an account for temporary deposits in a national or state bank
of his choice. The account was to be held in the name of "Post
Office Department, by , Postmaster!'
Checks could be drawn on the account only for payment of
specified accounts or remittance of surplus funds to a deposi-
tory office. Postmasters who had no special bank account made
their remittances in cash.
The postmaster at Sykeston, North Dakota, had an account
in the Sykeston State Bank before it closed in 1929. Only a few
cancelled checks and the last pad of unused checks have sur-
vived as evidence. They show only two payees: the postmaster
and the bank. The postmaster's twice-a-month check covered
his salary, rent for the postoffice building, which he owned and
clerk hire; checks to the bank were for drafts to pay for stamps
ordered and to remit surplus funds to the state depository post-
master for third- and fourth-class post offices at Fargo. The last
check was drawn on January 17, 1929, to remit $124.30 of
surplus funds; $48.91 was left in the account. Later deposits of
stamp and money order funds brought the balance to $116.91
when the bank closed on Tuesday, January 22.
iSHanhattrot eompang,
Vbeeree9"&l, / 64 a,-4-"-
Covering letter for the deposit receipt of postal funds.
POSTMASTER No. 486
... : .
192
$ ‘&71-s—
_LP_ Dommuts
PX1r'11111
OF
SWAM niaiTlE i l;
71 -381 S'AlliSESPrtrlir,NALuc. 1'. M.
No.
•: SYKESTON, N. DAR-,
.. . . Ar 1997
... ,. ...
8-3
■4 0 DOELARS
POSTMASTER
• 'pAY TO THE
• ORDER OF
TO SYKESTON STATE BANK,
77981 SYKESTON, NORTH DAKOTA
The two forms and two payees of checks drawn on the "POSTMASTER" account the Sykeston State Bank.
hve
, .&4r ,
POST OFFICE! DEPART/61MT, a4
.71 44 leen & eterZ? &re
/et de enc./ewe/ILI:ha& eaterizerz&r.
ant,
9out Ohe.. ,W.e•
seeerinuei yonz Awe 1 04 /j"--
Paper Money Whole No. 175
Page 5
(Continued on page 9)
The Bankers World's Fair National Bank Building.
THE
BANKERS WORLD'S FAIR
NATIONAL BANK OF
ST. LOUIS
A SEQUEL
by DAVE GRANT
Page 6
Paper Money Whole No. 175
I
have been fortunate to receive some additional informa-
tion which corrects, clarifies or amplifies my article ap-
pearing in the January 1993 PAPER MONEY. A sequel
seemed to be appropriate at this time, and provides an excuse
to show the Smithsonian specimen sheet for the bank. In order
to minimize covering material previously discussed, it is as-
sumed that the reader is familiar with the earlier background
article.
PHOTOGRAPHS
Two important photographs that relate to the Bankers World's
Fair National Bank (BWFNB) are in the collection of the Mis-
souri Historical Society. The first of these is a simple view of the
bank. The photograph certainly confirms the utilitarian ap-
pearance of the bank and the description of the World's Fair
Bulletin that the bank was "a modern building 84 by 54 feet,
Paper Money Whole No. 175 Page 7
two stories in height, in the center of which is a tower 20 feet
square and 44 feet in height!'
While the Bulletin reported that the building was to be lo-
cated on the "model street" at the northeast boundary of the
Fairgrounds, the bank was actually located further west at the
main entrance of the Fair and very close to the primary railway
and streetcar stations, ensuring maximum exposure to the
Fair's visitors. Many views of the Fairgrounds, including that
used on the daily program, omit the entire area occupied by
the bank, so its actual location may not have been decided
until very late in the process.
Following the close of the Fair, the bank occupied its
building for only two weeks, at which time the building was
sold to the Chicago House Wrecking Company for $500. A
comment in the 12/31/04 Examination of the Comptroller of
the Currency notes that "since vacating the bank building at the
Fair Grounds on about the 16th tilt; Cashier French !sic! and
his employees, now reduced to two in number, have been oc-
cupying temporary quarters, during liquidation, at the Fourth
National Bank, St Louis!'
The second, more remarkable photo features twelve in-
dividuals standing together on what appears to be the bank's
steps.
Open since the end of March, the Fair generated large
amounts of cash, and Fair officials were increasingly anxious
for the bank to open. There is an interesting letter dated lune
1, 1904 which emphasizes the bank president H.A. Forman's
exasperation in being forced to open prematurely:
I wish to state, that the Bankers' World's Fair Natl. Bank has this day
opened its books, and will commence business today, although
hardly ready for such an occurrence, but owing to the desire of the
World's Fair interests for us to do so at as early a date as possible, we
have commenced business, notwithstanding the fact that all of our
furniture is not yet ready for use.
If the photograph was taken on opening day, the incomplete
nature of the building reinforces Forman's complaint. In any
case, the picture is a real "blockbuster" to students of St Louis
banking history since each of those pictured were related to the
BWFNB in some way and most were prominent St Louis
Bankers:
H.A. Forman. President & director of the BWFNB, president
of Fourth National Bank.
A. Lehner. Director & VP of the BWFNB, president of the
German-American Bank.
W.H. Thompson. Director and VP of the BWFNB, Treasurer of
the Fair and president of the National Bank of Commerce. He
was trained as a plumber, founded a plumbing supply com-
pany, became president of the largest St Louis bank and was the
driving force in the financial success of the World's Fair. The
Bank Directors on the steps of the Worlds Fair Bank 1904. Left to right, first row: H.A. Forman, W.H. Thompson and C.H. Huttig. Second row: A.
Gehner, !no. T. Lyn, W.H. Thomson, Christian Clatly, C.E. Bryan, Arthur 0. Wilson, R.R. Hutchinson, I.S. Calfee and N.A. McMillan.
Page 8
Paper Money Whole No. 175
half dozen years he was associated with the Fair took its toll,
however, and he died at the end of 1905.
C.H. Huttig. Director & VP of the BFWNB, president of Third
National Bank, founder and president of Huttig Sash and Door
Company.
A. Gehner. Director & VP of the BWFNB, president of the
German-American Bank.
Jno. T. Lynn. President of the St Louis Safe and Desk Com-
pany. Perhaps it was his products about which Forman com-
plained were not yet ready at the bank's opening.
W. H. Thomson. Director of the BWFNB, Cashier of
Boatmens Bank in St Louis. He had been with Boatmens from
the 1850s, and held the curious distinction of being considered
the "oldest" banker in the St Louis at this time.
Christian Clandy. Supervisor of the Burglar Proof Vault
Company and clearly an important individual with the safe de-
posit company associated with the bank.
C.E. Bryan. Cashier of the BWFNB. He had been assistant
cashier at the Central National Bank of Carthage, Missouri and,
more recently held a fairly minor position at the Third Na-
tional Bank in St Louis. Bryan appeared in the 1905 St Louis
City directory and then disappeared from St Louis.
Arthur 0. Wilson. At the time, a National Bank Examiner
who performed the final exam of the BWFNB at the end of
1904. In 1906 he became a Vice President at the State National
Bank.
R.R. Hutchinson. Director & VP of the BWFNB, president of
Mechanics National Bank.
J.S. Calfee. On the face of it, Calfee held a fairly minor posi-
tion as assistant cashier with the Mechanics National Bank,
and would not become cashier of its successor, the Mechanics
American, until 1909. However, he was to preside over the Mis-
souri Bankers Association Convention held at the Fair, and was
thus most appropriate to be in attendance at the opening of the
bank.
N.A. McMillian. director & VP of the BWFNB, VP of St Louis
Union Trust Co.
CIRCULATION
Peter Huntoon was kind enough to provide the following in-
formation from the Comptroller of the Currency's Bond and
Currency Ledgers presently located at the National Archives.
Reconciliation of Note Issue/Redemption
Date Denomination Ser. Nos. Value
Currency Issued*
4/19/04 $50-$100 1-333 $49,500
5/25/04 $50-$100 334 150
Currency Redeemed
5/23/04 $100 1 $ 100
1/03/05 $ 50 334 16,700
1/03/05 $100 333 33,300
*"Currency Issued" indicates actual sheet serial numbers issued, "Cur-
rency Redeemed" indicates number of notes involved.
The bank had been issued 333 sheets of $5-$100 notes on April
19, 1904. Each sheet consisted of one $50 note and one $100
note and was the highest value sheet issued at the time. Fewer
sheets meant easier handling and greater security. However,
$150 is not evenly divisible into $50,000, and this first ship-
ment totalled only $49,950. Since circulation was sent to banks
in the form of complete sheets, the only way to obtain the max-
imum circulation was to redeem $100. Significantly, there is a
letter from C.F. Bryan to the Comptroller dated May 21, 1904
which names A.S. Pratt and Sons as the agents to witness the
destruction of the bank's notes, about the same time that the
first $100 note was redeemed.
On May 23, 1904 one $100 note was redeemed, and two days
later, on May 25th, sheet 334 was issued to the bank. It appears
that the bank was simply trying to get to its maximum circula-
tion of $50,000 before it opened, presumably as payment/col-
lateral for the bonds sold (but actually lent) by the Fourth
National.
It is also of interest that a comment in the Comptroller's June
15, 1904 Examination indicated that, although circulation
received totalled $50,000, none was presently on hand at the
bank. A December 21 letter from C.E. Bryan specifically indi-
cates that the $50,000 sent in to redeem the bonds was, in fact,
the currency issued to the bank:
We are sending you today by Express Fifty Thousand dollars in cur-
rency of the Banker's World's Fair National Bank for which kindly
send to the Fourth National Bank of St Louis Mo our bonds which
are on deposit with you to secure this circulation.
The Currency Bureau ledgers indicate that 333 $100s and 334
$50s were canceled and presumably destroyed on January 3,
1905.
So, where was the currency from May to December 1904? As
previously suggested, it probably resided—perhaps uncut and
unsigned—in the vaults of the Fourth National to be redeemed
when the bank was liquidated following the close of the Fair.
The currency really served no purpose other than to pay for the
S bonds required to organize a National Bank since, unlike
other banks of the time, the BWFNB made no loans and it
generated plenty of cash from its cashiering and exchange
operations.
Further, under the terms of the Act of July 14, 1870, a bank in
the process of liquidation was required to deposit lawful
money to secure its outstanding circulation. If this deposit was
not made within 6 months of the decision to liquidate, the
Comptroller would force the issue by selling the bank's bonds
and making the necessary deposit from the proceeds. Bonds
carried significant premiums to par value at this time, so it was
in Forman's interest to return the currency so that Fourth Na-
tional's bonds would be released without a problem. Huntoon
(1982) provides the last word on the matter. In discussing reis-
sued currency, he notes that "when a bank reduced its circula-
tion ... it was required to deposit lawful money with the
Treasurer to redeem that fraction of its outstanding circulation.
What better way to accomplish this than to return available
sheets!" Although Huntoon's comments apply to a specific ex-
ample associated with the Aldrich-Vreeland Act, there is no
reason to believe that the practice was not followed in this
earlier case as well.
So, while St Louis collectors might wish that someone
"salted" a note from another bank into the $50,000 in exchange
for a souvenir, it appears that the documentation precludes the
(•171171.101aW'.
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Paper Money Whole No. 175 Page 9
chance that any notes of the bank survived. At least we can
enjoy the specimen preserved at the National Numismatic Col-
lection at the Smithsonian.
SOURCES OF INFORMATION/ACKNOWLEDGMENTS
Correspondence and Examination files, and Currency and Bond
Ledgers of the Comptroller of the Currency, various dates 1904 to
1905, presently in the National Archives.
World's Fair Bulletin, various issues 1902-1904.
Childs, C.F. (1947). Concerning U.S. government securities, Chicago. (See
especially pages 361 to 363.1 first heard about this invaluable book
and the concept of bond dealers "underwriting" the circulation of
national banks during John Hickman's presentation at the 6th an-
nual PCDA Show in St. Louis, October 1991.)
Grant, D. (1993). The Bankers World's Fair National Bank of St. Louis.
PAPER MONEY, No. 163, pp. 18-21.
Huntoon, P. (1982). National bank note reissues—a case study. PAPER
MONEY, No. 99, pp. 113-4.
Warns, M.O. (1973). National bank note reissues—a case study. PAPER
MONEY No. 99, pp. 14-15.
Special thanks are due to Lynn Vosloh for generously providing the
fine illustration of the proof sheet in the Smithsonian Collection, and
Peter Huntoon for the issue and redemption information for the bank.
Thanks are also due to Kristen Hammerstrom at the Missouri Histor-
ical Society for assistance in securing the photos of the bank and the
Directors. ■
CHECKS (Continued from page 5)
After the bank closed remittances were made by cash and
registered mail. Regulations required each bill be listed by type,
serial number and denomination and that a duplicate list be
retained. Two surviving 1935 stamp orders totalling $150 en-
closed eight Federal Reserve notes (one Chicago, seven Min-
neapolis), a $20 Farmers National Bank, Hutchinson,
Minnesota, and $10 First National Bank, Minneapolis. A
$32.48 order for envelopes enclosed a $20 Pacific National
Bank, Seattle; a Federal Reserve note; two silver certificates and
forty-eight cents in coin.
Rules relating to all transactions relating to the care and
transfer of all postal funds are defined in Postal Laws and Regula-
tions (GPO 1932). PL&R was the supreme law for every post-
master, so almost every town with a bank had a postmaster's
account for temporary deposits. Most of the accounts were
small; surplus funds were those more than $100 for third-class
offices and $50 for fourth-class. It is quite possible some post-
masters drew checks directly to the depository postmaster or
the stamp sales office rather than to the bank for a draft;
without other examples there is no proof, however.
Most of the cancelled postmasters' checks must have been
destroyed when a postmaster relinquished his job, or the bank
closed; or preserved in this case when the post office moved to
new quarters and the outdated forms were abandoned in the
building owned by the previous postmaster. ■
Page 10
Paper Money Whole No. 175
Copies of the Type 19 Confederate Note:
COUNTERFEITS OR FACSIMILES?
by IIRENT HUGHES
The financial structure of the Confederate States of
America was always on the brink of disaster. This was
caused by politics, stupidity, ineptitude and a succession
of bad breaks. One of the most incredible misadventures
involved Secretary of the Treasury Christopher Mem-
minger and Samuel Schmidt, manager of the New
Orleans office of American Bank Note Company of New
York, maker of the Type 19 Confederate note.
T
EFFERSON Davis was considered one of the leading
"Constitutionalists" of his day. Until the day he died he
sincerely believed that since the states within the United
States had voluntarily joined the Union without giving up their
rights as states, those states had a constitutional right to with-
draw from the Union if their citizens so desired. It was this be-
lief, shared by many Southern leaders, that led many states to
secede individually and then form themselves into the Con-
federate States of America. Their intention was to go their way
as a separate nation and none expected to fight a war in order
to do so. Lincoln had other ideas, of course, and the Civil War
was the result.
Prior to the war Memminger had been a banker, and as such
he knew all about paper money. In those days each bank issued
its own currency which it ordered from one of the giant bank
note printing companies based primarily in New York City.
When the Confederate Congress, meeting in Montgomery,
Alabama on March 9, 1861, authorized the issue of one million
dollars in interest-bearing notes, Memminger did what
bankers had always done. He placed an order with the Na-
tional Bank Note Company of New York to engrave and print
the currency known to modern collectors as "Montgomery
notes:' This issue consisted of 1,606 each of $50 and $100
notes plus 607 each of $500 and $1,000 notes. The bills earned
interest at the rate of 3.65% and could be transferred by en-
dorsement like most bank instruments.
lust who selected these denominations is not clear but appar-
ently it was not Memminger. When the sheets of notes were de-
livered at Montgomery on April 2, 1861, ten days before the war
began, Memminger wrote his friend G.B. Lamar in New York City
that there were too many $1,000 notes and too few $50 and $100
notes. He stated that lie intended to order more of the low
denominations and "suppress" the $1,000s. At this point it ap-
peared that Memminger believed that the New York companies
would supply all the currency the Confederacy would ever need.
He was rudely awakened when the bombardment of Fort Sumter
began on April 12, 1861 and Memminger realized that he was
cut off from the New York companies and the Confederacy had
virtually no facilities to print paper money.
A quick survey revealed that the only plant available in the
South was the small New Orleans branch of American Bank
Note Company, managed by Samuel Schmidt, his young son
and one helper. Memminger should have known that the tiny
shop at No. 12 Royal Street was not capable of volume produc-
tion but the desperate situation demanded that he try. Schmidt
was told to engrave and print $20 million worth of steel-plate
engravings within a two-month deadline. This arrangement
was made through James D. Denegre, president of the Citizen's
Bank of Louisiana. Memminger told Denegre that the alterna-
tive to steel-plate engraving would be stone lithography, a com-
paratively crude process not really suitable for the printing of
secure paper money.
To sustain the Confederate Government during the two
months granted Schmidt, Memminger asked Southern banks
to loan their own notes to the Treasury Department, taking the
interest-bearing "Montgomery notes" as collateral. Many banks
agreed to help the new government in this manner.
Schmidt was told not to use the American Bank Note Com-
pany name on the currency he was to produce and to substitute
the name "Southern Bank Note Company!' This ploy fooled no
one in the industry, but it was good politics to get rid of the
New York name on Confederate money.
Schmidt could not hire more employees—none existed in
New Orleans. Nevertheless he began work and did eventually
produce 5,798 each of the $50 and $100 interest-bearing notes
(now called the "First Richmond Issue") followed by 58,860 $5
notes (Type 31 "Five Females"), 58,860 $10 (Type 22 "Indian Fa-
mily"), 14,860 $20 (Type 19 "Navigation") and 14,860 $50
(Type 15 "Railroad Train") non-interest-bearing notes.
The two-month deadline passed and Memminger had not
received one note from Schmidt. Memminger was a tough in-
dividual who ruled his department with an iron hand. He sent
his agent, Dr. William R Rayburn, to talk to Schmidt and
Denegre. The upshot of this conference was that Schmidt was
told to continue work on his contract but 10,000 sheets of
paper would be transferred to the lithography shop of Jules
Manouvrier, also in New Orleans. Thus began the frantic
efforts to set up other currency printing facilities in Richmond.
Schmidt finally delivered his first contract notes on August
26, 1861 but it did not please Memminger who was disgusted
by the long delay. On August 28 he told Schmidt that he had
only two choices—Schmidt could move his equipment to Rich-
mond to join the other currency printers, or he could stay in
New Orleans if he could speed up production of his second
contract notes. Schmidt chose to stay in New Orleans, but he
could not speed up production. Such output was pure fantasy
on the part of Memminger.
This situation so angered the Secretary that he moved to put
Schmidt out of business by legal means. He had the Con-
federate government label Schmidt's shop an alien enemy,
seized his equipment and paper supply and hauled it off to
Richmond to be used by Leggett, Keatinge & Ball. Schmidt
asked his friend lames Denegre to intercede on his behalf and
Memminger relented somewhat, leaving Schmidt with a mini-
Paper Money Whole No. 175 Page 11
mum of equipment to keep him in business. This activity con-
tinued until November 16 when Memminger seized Schmidt's
plates and shipped them to Richmond. That was the end of
Schmidt's work for the Confederacy.
The tragedy of this situation was that Schmidt did beautiful
work, turning out masterpieces of the engraver's art. Collectors
today put a magnifying glass on Schmidt's notes and marvel at
the exquisite detail which made his notes virtually immune to
counterfeiting. Never again would the Confederacy enjoy such
beautiful currency and Memminger would have to endure
harsh criticism for the low quality of the paper money that al-
most invited counterfeiters to copy it.
I can find no record of any serious counterfeiter trying to
copy the steel-plate engravings used to print the "Montgomery
notes" or the "First Richmond Issues" and four other note types
produced by Schmidt. There have been some modern repro-
ductions and that sort of thing but nothing of importance to
the serious collector.
Such counterfeits of Schmidt's second contract notes that did
appear during the Civil War were printed from electrotype
plates made from crude woodcuts. I don't know of any litho-
graph copies, but some may exist. That the woodcuts circulated
as genuine is more a reflection of ignorance on the part of the
public than any artistic merit of the notes themselves.
Anybody with a small printing press could produce copies
from an electotype plate, but there were few people capable of
creating a woodcut. Most woodcut artists worked for Harper's
Weekly or Frank Leslie's Illustrated Newspaper which specialized
in pictorial presentations of Civil War events. Photography was
in its infancy and the woodcut was the only medium available
to such publications.
In this article we will examine the woodcut copies of the
Criswell Type 19 "Navigation" note. These counterfeits created
minor problems for the Southern economy but not the severe
ones caused by the very deceptive lithograph copies of other
notes. The rather odd circumstance in which two different
woodcuts were made and from which electrotype plates were
made is interesting because of the mystery involved. We can
only guess at who made the woodcuts, which came first and
who may have copied from whom. The one thing we are sure
of was that our old friend Sam Upham, the Philadelphia shop-
keeper, produced a lot of copies of Type 19, which he always in-
sisted were harmless "facsimiles" But Sam was a sharp old boy
who knew better.
To give the reader an idea of what Schmidt's genuine note
looked like, we will illustrate it and offer a word description of
its details.
Since there is a serial number/signatures disagreement in
one of the counterfeit notes to follow, the reader may be in-
terested in just who among the Treasury clerks signed the gen-
uine notes for the Confederate Treasury Department. Reference
to tables such as this is the quickest way to determine the gen-
uine or counterfeit character of a Confederate note. There are
exceptions to this rule, of course, but it is still a valuable tool.
All of the type 19 counterfeits known to me were printed
from electrotype plates made from two slightly different
woodcuts. I can find no record of a steel-plate or lithograph
counterfeit. How two woodcuts came into being is anybody's
guess, but I suggest one possible explanation.
Sam Upham complained that he had many competitors in
the facsimile business. Perhaps one of them saw the Type 19
note illustrated in a newspaper and bought an electrotype plate
for his own use. The newspaper note would logically have car-
ried the serial number from a genuine note since a woodcut
artist copied everything. Since Sam's competitor wanted his
notes to be different from the newspaper version he may have
shaved the serial number off and printed his facsimiles with
blank spaces. This allowed a dishonest person to write in con-
secutive serial numbers to fool the public and pass off his
copies as genuine.
Upham may have discovered one of these notes on which
someone had written in a fictitious serial number 4316. Not
being able to locate the original woodcut or the source of the
plate, Upham could have taken the note to another woodcut
artist and had him copy it. Upham could then order as many
electrotype plates as he wished, some with the printed serial
number 4316, some without, some with printed signatures and
some without.
Sam Upham was a sharp businessman who gave his cus-
tomers whatever they wanted. From one of his circulars in
THE GENUINE NOTE
Criswell Type 19—$20—issue dated September 2, 1861—by Southern Bank Note Company, New Orleans. Printed in black
and red on excellent paper. At center, female figure representing Navigation, seated beside her globe and charts. At left, fe-
male figure representing Minerva leaning on shield. At right, blacksmith at his forge. Red-orange overprint of two "20"
medallions at upper left and right and a larger "20" medallion at lower center behind which is a rectangular network of the
word 'TWENTY" repeated 192 times in tiny letters. Total issue: 14,860 with written serial numbers and signatures.
AUTHORIZED SIGNERS OF THE TYPE 19
SERIAL NUMBERS: SIGNER FOR REGISTER: SIGNATURE*AS USED ON NOTE:
SIGNER FOR TREASURER: SIGNATURE*AS USED ON NOTE:
1 thru 1900 Temple Ellett T Ellett Harrel H. Goodloe_H H. Goodloe
1901 2300 C C. Thayer C C. Thayer Harrel H. Goodloe _ H. H. Goodloe
2301 3900 Temple Ellett T Ellett Harrel H. Goodloe_H. H. Goodloe
3901 4400 C. C. Thayer C C. Thayer Harrel H. Goodloe_H H. Goodloe
4401 - 5600 Temple Ellett T Ellett Harrel H. Goodloe H. H. Goodloe
5601 6400 Thomas J. Miller Tho. J. Miller R. H. L. Tighe R H. L. Tighe
6401 - 7200 S G. Tinsley S G. Tinsley Albert W. Gray A W. Gray
7201 - 8400 C C. Thayer C C. Thayer John Ott Jno. Ott
8401 - 9200 R Hill, Jr. R Hill, Jr. R M. Payne R M. Payne
9201 - 9700 T L Crouch T L Crouch F. Westwood Ashby_F. W. Ashby
9701 11300 Thomas J. Miller Tho. J. Miller R. H. L. Tighe R H. L. Tighe
11301 12000 Meriwether Winston M. Winston John C. Tennent J C. Tennent
12001 14400 Temple Ellett T Ellett Thomas 0. Keesee_T. 0. Keesee
14401 - 14860 T. L. Crouch
T. L. Crouch Albert W. Gray A W. Gray
* Clerks were apparently paid on a piecework basis so most shortened their signatures
in the interest of speed.
"NAVIGATION" NOTES
VAIOA Le /Iv EleFir PIN CENT SroCA al? 8 ONO S 0 !CO ATE s rires or Amt- IlICA'
Fuo.Siesile Polfederate Not..—Sold Mamie and Retcsa, 9. C. Uplays, 403 Chest nut St. ?Wade •hilt.
-111-11: CEIVA.ILLE IN PAYMENT il'EF AIL 1111E$ EXC E E XPORT BETTE SI
Page 12
Paper Money Whole No. 175
which he was soliciting orders for wholesale lots, we see that
Sam offered the customer his choice of notes on "French paper"
at fifty cents per hundred or notes printed on "bank-note and
bond paper" at $1.50 per hundred. Further in his circular Sam
offered a deluxe version for the person who wanted the very
best, "The $5 (two kinds), $10, $20 (two kinds), $50 and $100
Rebel Notes, printed from NEW PLATES, on the best quality
bank note and bond paper, with numbers blank and signatures
omitted if preferred—perfect FACSIMILES of the originals—will
be furnished at $5 per 100, or $40 per 1,000 notes:' Customers
THE SAM UPHAM FACSIMILE
1 Os note 'vas printed from an electrotype plate of a woodcut rendering with the typeset Upham inscription added to the
bottom margin. The serial number 4316 and the signatures C.C. Thayer and Ina Ott are printed. Since the genuine note
with serial number 4316 was signed by C.C. Thayer and H.H. Coodloe, the serial number on the facsimile raises an in-
teresting question. Woodcut artists usually worked from a genuine note and would have simply copied the serial number
which should have been between 7201 and 8400. Why did he use a different serial number on this woodcut? The preceding
scenario offers only one possibility. There may be many others.
Most of these notes found today were closely trimmed and passed into circulation. Notes with the Upham inscription
intact are scarce to rare and command a premium price when offered.
reINDARLEJN ERWT REE cte-ivr Sraelf OR IT ON DS 0 FC ONeEReRATE STATES or AiRERICA
1..-f1111:EIVAXWE IN-PAYMENT ,OF AII.DATES -EXC RP TT.XP 0 RT,DVITESitstItt'lt.,tMt•t..ctt., *.tty:
-,eare7.
xetactABLE:m RtRe. OCK.017,80,VOSOfc.G.N100£141r STAI.C5 orAmERit • •
Mt.
.ti-filrfaTIVARLIIIItrPAYMKNI ,A. +Nit 1, ,n7t7..R P'
Ns.
Paper Money Whole No. 175 Page 13
were told to specify whether they wanted the notes with or
without signatures. Thus, for $5 per 100, a customer could re-
ceive beautiful notes on which he could write in serial numbers
and signatures, coming about as close to the genuine as pos-
sible. It is hard to believe that these notes were not intended to
be passed off as genuine on unsuspecting persons. Some
people believe that the Union government may have furnished
this excellent paper to Upham in order to further cripple the
Southern economy.
I have seen dozens of these facsimiles but never one with
written signatures. Many dishonest persons were willing to fill
in consecutive serial numbers because a dozen notes with the
same printed serial number would be suspicious, but few
wanted to fill in signatures. This may have been because many
people of that era could not write. Nevertheless I think we must
assume that Upharffs notes exist with printed serial numbers
and signatures, written serial numbers with printed signatures
and written serial numbers with written signatures. The last
combination would be quite rare.
One problem is that some notes appear to have written sig-
natures but they turn out to be clever alterations of the printed
signatures in which someone has traced over the printed signa-
tures with brown ink. The signatures look slightly brown but
the strokes are necessarily wider. By holding the note up to a
sun-lit window one can see the black printed signatures under
the "halo" of brown ink. This was just another ruse by the coun-
This is the sante woodcut from which the Upham electrotype plate was made except that the printed serial numbers have been
removed. The note has wide margins all around showing that the regular Upham inscription was never present. Instead,
there is a typeset inscription "Fac-Simile Counterfeit Note." running vertically on the left margin but fin enough out that it
could be trimmed off easily. The paper is of excellent quality but is thinner than most.
Collectors have wondered if such notes were made by Upham. I believe they were, even though Upham may not have
ordered them with the left edge inscription. We know that at one point Union detectives raided Upham's printing plant and
accused him of being a counterfeiter. Sant got off but the experience may have had an effect on Ins printer to the extent that
he insisted that the "Fac-Simile" inscription be printed on each note. The printer was thus made immune from arrest since
he could not be held responsible for whatever happened to the note after it left his plant.
Thi is the Upham facsimile which was originally printed with blank serial number space. Someone wrote in the serial
number 2143 in red ink, trimmed the margins off closely to eliminate the inscription and passed it into circulation. The back
is stained from having been carried in a leather wallet after folding. It appears to have been in circulation for some time but
is otherwise in fine condition. The word "Counterfeit" is written across the back, but there is no way of knowing just when
that was done.
This note was found with written serial numbers that have no relation to the signers of the genuine notes. I have another
specimen with serial number 1679 which is immediately suspect because the Titian Register shows that the genuine note with
that number was signed by Ellett and Goodloe, not Thayer and Ott.
Page 14
Paper Money Whole No. 175
POINTS OF COMPARISON OF THE TWO WOODCUT VERSIONS
The Upham Version The Second Version
• Three tiny marks over
the "D" of
"CONFEDERATE"
• Three tiny marks over
the "E" of "AMERICA"
• No tiny marks over
the "D" of
"CONFEDERATE"
• No tiny marks over
the "E" of "AMERICA"
■■••= iararm 'ellv;1=11-1-.
• Blacksmith's hair is
curly and there is a
period after "New
Orleans"
• Blacksmith's hair is
straight and full and
there is no period
after "New Orleans"
• Distinct curved strap
across foot
• Vague straight strap
across foot
floN1)411lFfn pf, A1 ‘110 ,,k On If ()An', Of t ("tarot II 41L621/,titim: tVII p .1
•
•.•
Ai, L.; 1.) E 5 EX C EPT EX 1,9 ft T. Inn' I I.;
Paper Money Whole No. 175 Page 15
At first glance this woodcut looks very much like the Sam Upham version, but closer examination reveals many differences:
1. There are no tiny marks over the "D" of "CONFEDERATE" and the "E" of 'AMERICA." The marks are present on
the Upham note.
2. The blacksmith's hair is straight rather than curly as it is on the Upham version.
3. There is no period after "New Orleans" on the right end. The Upham version has a period.
4. There is no distinct sandal strap across Minerva's foot; the Upham version shows a distinct curved strap.
I have four specimens of this second woodcut version note. All are closely trimmed, probably indicating that edge inscrip-
tions were trimmed off. All have printed signatures. Two notes have blank serial number spaces but circulated anyway. Two
have written serial numbers that do not agree with the Thian Register. All four notes have a crude overprint that is redder
than the ones on the Upham notes, where they are almost orange.
If anyone has Type 19 counterfeits not mentioned in this article, 1 would appreciate a postcard or letter addressed to me
at 781 Seay Road, Inman, SC 29349 giving pertinent details.
terfeiter to make the fakes appear genuine. One cannot be too
careful in examining counterfeit varieties.
Sources:
Ball, Dr. Douglas, various articles in Bank Note Reporter, a Krause Publi-
cation.
Bradbeer, William West. (1915). Confederate and Southern State Currency,
Mt. Vernon, N.Y.
Chase, Philip Fl. (1947). Confederate Treasury Notes, Philadelphia.
Chase, Philip H., various articles in The Numismatist, official publica-
tion of the American Numismatic Association.
Criswell, Grover C. (1976). Confederate and Southern States Currency,
Second Revised Edition.
Encyclopedia Britannica.
Slabaugh, Arlie R. (1976). Confederate States of America Paper Money,
Fifth Edition.
Thian, Raphael P. (1972). Register of the Confederate Debt, reprint by
Quarterman Publications, Inc.
Todd, Dr. Richard Cecil (1954). Confederate Finance, University of
Georgia Press, Athens.
Wheeler, Keith (1976). The Chroniclers volume of The Old West series
by Time-Life Books, New York.
Printing Impressions Intended for
HEATH'S INFALLIBLE
COUNTERFEIT DETECTOR
by GENE HESSLER
(The letters reprinted here were observed while researching another
subject. The subject could, and perhaps should, be researched further.
However, for now this is all this writer has recorded.)
0 N occasion, impressions of face and back designs,authentic and counterfeit, both printed by the Bureau
of Engraving and Printing (BEP) and intended for in-
clusion in a Heath's Infallible Counterfeit Detector, have been re-
moved from those publications and have masqueraded as
proof impressions. The paper used for the Heath publication is
in contrast different than the soft paper used for official BEP
proofs. The counterfeit impressions in the Heath publications
were printed by the BEP from captured plates.
The two letters that follow verify that some of these impres-
sions were disseminated without being included in Heath's .. .
Detector. Geo. B. McCartee, Chief of the Bureau of Engraving
and Printing sent the letters to Laban Heath: the first on 9 June
1870, the second is undated.
etAlttupapwrAiNopc—rotritia0 VINFUREN-
_„,,(5 sixvirv/J 71h•
/V, vsirtry_H-vpD, .04,11A1,01, - 113
01,1111 the t2t. trig5cr at ltlittiliiittjton
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tatgg4Z0
Attaill3 kenii3V0 NAnglyitt Oitall2inku
,
mot
ailli,21,91.9 fn I 1.e CO itj 1.41
• • • -
,401-1 • -
0•VANINVIS/
4404/144Vot oiinT at
'40;,%4^',,20
ES
,ty,itcHAN.-rs
Natitotitl
lilt pu g TEN 1)()I,TAR s to &over
0,,
453DP4OWIESODPAMV#S0101.MaRNOrtirlIgC.Mitta =4.01:0 $1144MattWeP7
to Bcdtel
Page 16 Paper Money Whole No. 175
Gentlemen:
I learn that you have disposed of single impressions from Counter-
feit plates furnished you by this Department for your Detector .
This is certainly contrary to the understanding of this Department,
and I beg you will inform me as to the extent of this matter, and
what kind and number of impressions have this far been disposed
of
The letter of reply, to which the following letter refers, was
not seen.
Gentlemen:
In answer to your letter of the 11th inst., I have to say that the name
of the person who is disposing of the notes in question is Wilson.
He claims to have received them from Laban Heath & Co., about
one year ago. He had been disposing of them at fifty cents per im-
pression of Ten or Twenty dollar Notes.
It is quite evident that these notes have never been in any book
whatsoever.
The man Wilson is a card and ornamental writer and calligrapher.
Without thoroughly examining what appeared to be two in-
complete "proof' impressions, this writer photographed two
national bank note pieces for Hessler (1979). In my haste to re-
turn these two pieces to their owner, I did not examine the
paper and the engraving closely enough. After publication I
discovered that I had fallen victim to the masquerade. These
two pieces were counterfeit prints from, or intended for, two
different Heath Detectors.
For those who have Hessler (1979) and have not already no-
ticed what I should have seen at the time, the counterfeits are:
The Merchants National Bank of Chicago $10 on p. 150
(Newman, Var. 3-P-2) and The First [National Bank of[ the City
of New York $20 on p. 152 (Newman, Var. 3-BH-I).
Sources:
Hessler, G. (1979). U.S. essay, proof and specimen notes. Portage, OH: BNR
Press.
Newman, E.P. (1991). Heath's counterfeit detector. (C.W.A. Carlson and
M. Hodder ed.). The American Numismatic Association Anthology.
Colorado Springs: American Numismatic Association.
Press copies of official and miscellaneous letters sent, 1862-1912, U.S. Na-
tional archives RG 318.
CONSIDER
donating a subscription
of PAPER MONEY to
your college alma mater,
local historical society
or library.
Paper Money Whole No. 175
Page 17
Wismer Catalog Status
by STEVE WHITFIELD
I T has been awhile since the SPMC published a new statecatalog as part of the Wismer project. The Wisconsinbook by Chet Krause is in the SPMC format but is not
published by the Society. It has been even longer since we have
seen an update on the project, so this is an effort to report on
the current status.
Many of the state books have been completed since the
Florida book was published back in 1967. A number of other
states have had excellent cataloging efforts completed by
collectors and researchers that were not exactly in the SPMC
format but met the requirements of a state book for collectors
libraries. Until we publish catalogs for uncataloged states, we
should not consider spending any effort in redoing acceptable
state books just to get them all in the same format.
The recent release of the American Paper Money collection
by the American Bank Note Company includes 35 states and
the District of Columbia. The collection, with the exception of
Montana, includes the earliest settled areas of the country that
fit into the "bank note" era. These states demand catalogs
because of the large numbers of obsolete notes that were issued
within their borders. I believe that the rest of the West and
Pacific states of Hawaii and Alaska could effectively be
combined into several volumes. The interpretation of what
gets listed for the western states is much more liberal than the
eastern states, since comparatively fewer notes were issued in
the West. Each state should have as much detailed history as
possible. California may have sufficient issues to warrant its
own volume. The Society would be happy to publish catalogs
that cover any of the western states where a volunteer author
can come up with sufficient material to create a volume. It
should also be noted that several of those states already have
significant books published on their note history, e.g.,
Colorado by Nolie Mumey and Utah by Rust.
If the eastern "half' of the country is divided by regions, it is
possible to tabulate where we are with reference to published
catalogs and for which ones we need some help. See Table 1.
For New England, the states of Connecticut, Massachusetts,
and New Hampshire await completion. In the Northeast, New
York bank notes needs to be completed and is being worked
on. The manuscript for New York scrip notes has been drafted
by Gordon Harris.
For the Mid-Atlantic region, Delaware, Maryland and Wash-
ington, D.C. have not been completed. Virginia, including the
state of West Virginia, was formerly done by Charles Affleck
and has been revised. Therefore, we shall conclude that these
two states are complete for now.
In the area I have designated as the Mid-West, only the state
of Missouri awaits completion. There are vast quantities of
information available but we need to figure out how to get it
ready for publication. One excellent suggestion received was to
consider having graduate students produce manuscripts as part
of their degree requirements. The state of Oklahoma was done
by Maurice Burgett and combined with Kansas. Oklahoma was
not included in the American Bank Note series and could be
included as a separate chapter in a Western States volume or
omitted since it has already been done by the SPMC.
The status of the North Central States is as follows: Illinois
and Ohio need to be done. The state of Michigan was done
years ago by Bowen and has been reprinted, so we shall
conclude that it does not need to be redone at this time. The
Kentucky manuscript by Earl Hughes is in my hands and I am
working to get it ready for publication. In the South, Georgia,
Louisiana, North Carolina, and South Carolina await
completion. Tennessee was cataloged by Paul Garland,
although he omitted scrip issues. For now we shall say we need
a volume on Tennessee scrip issues.
Work on the Western and Pacific States is required. In the
interim we have works on Colorado and Utah and I have seen
some articles and pamphlets on several of the other states.
Good work is proceeding on the states that constituted the
Oregon Territory.
Table 1 also shows the names of volunteer authors who
responded to a recent questionnaire regarding their efforts.
Anyone interested in participating in this project as an author,
assistant, researcher, photographer or in any other capacity is
urged to contact Steve Whitfield at 14092 W. 115th Street,
Olathe, KS 66062.
And as long as we are writing about catalogs for the paper
money hobby there are a few others I would like to see
completed, including:
1. Depression Scrip Issues of 1907/1914 (Help, Neil)
2. Sutler Scrip with detailed research
3. Labor Exchange notes, with all issuing locations
4. Railroad Scrip, compilation of Hoobefs great work
5. Look-Alikes, with information on the makers
6. Vignette catalog with names, numbers, artists, etc. (Start
with John Muscalus' works.)
There are countless other opportunities to create valuable
reference works for the hobby. It's a great way to contribute
something lasting to the sport of paper money collecting.
Table 1.
REGION AUTHOR STATUS
NEW ENGLAND
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
John Ferreri*
George Wait
Wayne Rich*
Roger Durand
Mayre Coulter
dormant
completed
unknown
in progress
completed
completed
Page 18 Paper Money Whole No. 175
NORTH EAST
New Jersey George Wait completed
New York (banknotes)
John Glynn* in progress
New York (scrip) Gordon Harris submitted draft
Pennsylvania R.T. Hoober completed
MID-ATLANTIC
Delaware Terry Bryan* in progress
District of Columbia unknown
Maryland unknown
Virginia see Affleck
West Virginia (included in Va.)
MIDWEST
Arkansas Matt Rothert (d) completed
Iowa
Dean Oakes completed
Kansas Steve Whitfield completed
Missouri Eric Newman* dormant
Nebraska see Walton & McKee
Oklahoma
Maurice Burgett (d) completed
NORTH CENTRAL
Illinois Dennis Forgue in progress
Indiana
Wendell Wolka completed
Kentucky Earl Hughes submitted
Ohio Don Kelly in progress
Michigan Larry Falater see Bowen
Minnesota
Rocky Rockholt
completed
Wisconsin Chet Krause completed
SOUTH
Alabama Walter Rosene completed
Florida Harley Freeman completed
Georgia Carl Anderson* in progress
Louisiana unknown
Mississippi L.C. Leggett completed
North Carolina
Jim Sazama*
in progress
South Carolina Austin Sheheen, Jr.* dormant
Tennessee (need scrip) see Garland
Texas
Bob Medlar (d) completed
WESTERN & PACIFIC STATES
Alaska
Arizona
Hal Birt, Jr.* "pub'd 1990"
California
Colorado
see Mumey
Hawaii
Idaho Dick Naven* in progress
Montana
Nevada
New Mexico
North Dakota
South Dakota
Oregon Dick Naven* in progress
Utah see Rust
Washington Dick Naven* in progress
Wyoming
* Names marked with an asterisk responded to a recent questionnaire on the status of their projects. I wish to ex-
press my appreciation to each of them for their input.
It is an enormous task to get one of these state catalogs ready for publication. Locating the notes,
obtaining the quality black and white photographs of them, doing the research on the issuers and
the state, and getting it all down in a word processing format, i.e. doing all the writing and typing,
can take years. Many of our volunteer authors have full-time jobs and other responsibilities that re-
quire their attention. A number of states are not being researched by anyone and several others are
sitting dormant because of the pressure of other business. We urgently need volunteers who have
the time to put into such an effort if we are ever going to achieve our goal of a catalog for every state.
Please volunteer to help if you can, or submit your good ideas on how the Society should proceed
from here. ■
Paper Money Whole No. 175 Page 19
The TYPF, or VARM;TY Dilemma
for
Collectors and Catalogers
by STEVE WHITFIELD
© 1994
What makes a note different enough to deserve its own
catalog space and number, and what notes are sufficient
to constitute a "complete" collection?
T
HERE are several factors that give a note its unique
characteristics. These include the plate from which the
note was printed; the stage or level of completeness of
the note; items added to the note after printing, such as signa-
tures or stamps; the way in which the note was cancelled or
redeemed; the color or colors of inks used; the number of
plates used, to include undertints or overprints; the method of
production, such as proof, or routine ciculation printing; the
purpose of the note, i.e. essay or specimen versus a circulating
note; the position of the note on the printing plate which de-
termines the plate letter; and the paper used for the note. All of
these factors may contribute to minor variations of a basic note
design. Additional varieties were created when genuine notes
were counterfeited, altered, or raised in denomination.
A unique design obviously creates a "type" that warrants
cataloging and collecting. The identical design used for a
different denomination from the same issuer would also be
considered a type note. But, if the plate were changed very
slightly, such as location of the cashier's signature, or addition
of a countersignature line, would such a note be a variety or a
separate type note? And, if identical notes had different hand
written places of redemption added, would they be different
"types" or would one simply be a variety of the other? Would
the answer vary if the different redemption locations were en-
graved on the plates rather than being handwritten? And, if a
plate was reused by a successor printer with a new logo added,
would it create a "type" note or a variety? If that same note was
improved or updated by adding a color tint or back design,
would the later notes be "types" or varieties?
And so it goes. Clearly we need to establish some ground
rules. Coin and stamp collectors have the same problem;
someone was always messing around with a perfectly good de-
sign, or "type" note, stamp, or coin by making minor changes or
improvements. Most collectors are only interested in aquiring
major "types," while the dedicated specialist looks to obtain
every minor variety of an issue for detailed study.
For purposes of cataloging note issues, I believe that all varie-
ties of every note should be listed under the basic "type" design.
Varieties would not receive a unique catalog number, as re-
served for "types," but instead would get a subscript added to
the basic "type" number. Therefore, all that remains is to estab-
lish the rules on what constitutes a "type" note. As we do this,
we should keep in mind the following questions:
I. Do the notes appear different enough that the average col-
lector will want to obtain both of them?
2. Are the notes available (affordable) enough to collect?
3. Is there a truly significant difference in the notes?
First, any note with a unique design, including vignettes,
denomination, or printed place of issue will always constitute
a separate "type" note and be given a unique catalog number.
Anything added after the note was printed, such as signatures,
stamps, or handwritten locations, will be considered as a va-
riety of the basic type design. All counterfeits and alterations
will be listed as varieties. Corrections made to plate errors, such
as spelling for subsequent printings, are considered varieties.
Proofs, specimens, essays (including color trials), and notes
printed on different paper, i.e., which may indicate the in-
tended purpose for the note, are also varieties. The stage of
completeness of the note, such as trial proofs, faceplate print
without overprint, or face only without back printing, will also
be listed as varieties. Plate position differences are varieties, as
are minor plate changes, such as "cashier" substituted for
"banker," a printed date replacing a written date, or different
printed dates for otherwise similar designs. Different printer
logos on the same plate and the presence or absence of over-
prints, to include machine serial numbers, are varieties.
There are at least three major differences that will always be
considered as separate "type" notes. The first is any title change
for the bank or other issuer made on the plate. The second is
any change in the wording of the redemption clause. This is
considered to be significant because it probably reflects
changes in the economic conditions at the time of issue, which
may be the reason for the note issue. And the last "type" will be
where major changes are made in other printed text on the
note. What constitutes a "major' word change, thereby creating
a "type" note as opposed to "minor" word changes creating only
a variety, will be left to the judgement of the cataloger. One ex-
ample that comes to mind would be a change in wording caused
by political legislation, such as a guarantee requirement. All other
rules on types and varieties are non-negotiable and will remain
inviolate until someone writes some new ones.
A major consideration in the question of "type" versus "varie-
ties" for albums should be the wants and needs of the collector.
Often, major designs, or "types',' are the only issues collected
because it would be too expensive to pursue all the minor vari-
eties of every similar design. And, most varieties are not readily
noticeable to the casual observer. Therefore, the creators of col-
lector albums need to know what the "types" are, since most
collectors don't want a larger, more expensive volume con-
taining costly varieties they will never own anyway. From the
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Page 2 0
Paper Money Whole No. 175
25c 'Type" note. This is the issued version of this merchant's scrip, dated Nov., 10th 7862.
25¢ Type note or variety? Although this note has a different date than the "type" example, along with some
other differences, it is considered a variety. It may have been a trial note leading to the final design.
$1 'Type" note. This note is complete and ready for signatures. It has a unique design and a red overprint "ONE"
,vt`f
t, on 4 1 ril titCee
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Paper Money Whole No. 175 Page 21
$1 Type note or variety? Although very similar to the "type" note above, this note has a different printed location so it is consid-
ered a separate "type" by our rules.
$1 'Type" note. The note has a unique design and the location is indicated as "Ft. Leavenworth."
$1 Type note or variety? This note is printed on heavy paper, has no red overprint, and the redemption clause is incomplete.
It is considered a variety. It may have been a trial note leading to the final design.
(Continued on page 23)
Page 22
Paper Money Whole No. 175
MY SUMMER VACATION
A Visit to the Higgins Museum
by BOB COCHRAN
T
HIS past August, my wife Sandy and I took a few days
off and visited the Higgins Museum in Okoboji, Iowa.
This was her first visit to this beautiful part of America,
and my second.
This trip was prompted by a comment from the museum's
curator, John Hickman. When I visited the museum several
years ago, their library was in much disarray. They had just
received several hundred volumes of banking-related material
from The Chase Manhattan Bank reference library, and most of
it had not been looked through or sorted. I mentioned to John
that I would really look forward to the opportunity to go
through their material when I could spend more time at the
museum. Last year, during the Professional Currency Dealers
Association show in St. Louis, John told me that the material
from The Chase Manhattan Bank had been unboxed and
cataloged, and he invited me to come up and take a look.
The Higgins Museum is dedicated to the preservation and
display of notes and artifacts of national banks. As such, the li-
brary contains a significant reference item for the serious stu-
dent of national banks and their paper money issues—a
complete set of Reports of the Comptroller of the Currency.
This is a remarkable accomplishment, as I would imagine no
more than one or two other complete sets exist, if any. Some
collectors might consider government reports "dry" and unin-
teresting, but if you really want to know about the laws, people,
activities, and in general the "why" and "how" of national cur-
rency, these reports are the best source of information.
The library also contains many, many excellent banking his-
tories, both of individual banks and states. Some of these
works are quite scarce. Of course the library contains all of the
standard reference works about U.S. paper money, but in-
cluded in this section are several very scarce works produced in
the early 20th century, and not often found outside of large
libraries. I was surprised to find that the library also has a large
number of reference materials about world currency and
banking, including extensive sources of information about Eu-
rope and the Middle East.
The last time I visited the museum I was unable to spend as
much time as I would have likecj viewing the incredible collec-
tion of national currency on display. The three major collec-
tions of the museum are notes from Iowa, Minnesota and
Missouri. Notes from the three states are displayed in four
wings of the building.
John told me the story behind the founding of the museum.
He had met William R. (Bill) Higgins, Jr. at one of the Central
States Numismatic Society meetings during the 1960s. John
said that the show was one of the most beneficial that he had
ever attended, in that he met and became friends with Del Bert-
schy, Chet Krause and Bill Higgins at the same show. At the
time Mr. Higgins was an advanced collector of crowns of the
world, having sought these elusive coins for over thirty years;
when his collection was sold it was the largest in private hands
anywhere in the world.
Mr. Higgins had been raised in nearby Spencer, Iowa, and
was the Mayor of Okoboji from 1960 to 1974. At one point
John offered to sell him a national currency note from Terril,
Iowa, a town located about twelve miles from Okoboji. John
recalled that the price of the note was about $30. Higgins wasn't
interested in the Terril note, but told John that he would
definitely be interested in acquiring a note from one of the na-
tional banks in Spirit Lake, only a few miles north of Okoboji.
John knew that the fabled Albert Grinnell Collection had
contained a $100 Second Charter note from the First National
Bank of Spirit Like, so he filed Mr. Higgins' comment in his
mind. Several years later John was attending one of the
Memphis paper money shows, and was at the table of Amon
Carter, Jr. waiting for the announcement that the show was
open to the public. John said that Mr. Carter would not show
anyone any of his material until the show was officially
opened. There were several dealers gathered around Mr.
Carter's table, and each of them was handed a stack to look
through when the announcement was made.
John was standing next to Lyn Knight, and each was going
through a stack of notes handed them by Carter. With his
peripheral vision, John just happened to notice that Knight had
paused while going through his stack, and was taking a long hard
look at—the $100 note from the First National Bank of Spirit
Lake! The note was priced very reasonably for such a rarity, and
John tried to stay calm while he waited for Knight to make his
decision, keeping his eyes on Knight and the stack of notes.
John finally had a chance to breathe a few moments later,
when Knight placed the entire stack back down on top of Mr.
Carter's table. John's description to me of his next move: "I
latched onto that stack of notes as quick as a lizard snapping a
bug with his tongue' (Close your eyes and think about that
statement for a moment, and you'll get a good mental picture.)
According to John, the elapsed time between Knight putting
the stack down and the stack being in John's hand was less than
a second.
John purchased the Spirit Lake note, and arranged a meeting
with Bill Higgins, who eagerly bought it from John. This note
generated the spark of interest in Mr. Higgins, and the idea of
forming a collection of Iowa nationals was born. Over the suc-
ceeding years Mr. Higgins formed a spectacular collection of
Iowa nationals, acquiring individual notes and purchasing the
holdings of other collectors. In 1973 and 1974, Mr. Higgins di-
sposed of his collection of crowns, and the proceeds from the
sale were applied to the erection of the Higgins Museum. Later,
extensive collections of Missouri and Minnesota nationals be-
came available, and were acquired by Mr. Higgins.
The basis of the Missouri collection was formed by the late
Dr. Howard Carter of Hamilton, Missouri; subsequent acquisi-
tions have made it the most complete in existence. Among the
many scarce and rare notes is a unique First Charter note from
Knob Noster, one of Mr. Higgins' personal favorites. Of partic-
Paper Money Whole No. 175 Page 23
ular fascination for me is the large group of notes issued by St.
Louis banks, one of my personal collecting interests. The Mis-
souri collection contains over 200 notes, and includes an uncut
sheet of $5 Red Seal notes from the City National Bank of St.
Louis, and an uncut sheet of Brown Back notes (3 $10s and a
$20, no less) from the Mechanics National Bank of St. Louis.
The uncut sheets from these two rare banks represent about
half of the notes known from each institution. Several years
ago my friend Ron Horstman traded Bill Higgins a $5 Red Seal
note from the City National, and I made up my mind that I
would one day own that note. It took me a few years, but I
turned tip a 1919 note from The Hamilton (Missouri) National
Bank, a note neither Dr. Carter or the Higgins Museum had ac-
quired. After two years of negotiations on my behalf by John
Hickman, Mr. Higgins finally agreed to trade the $5 Red Seal
for my note, but I had to kick in $10 to "sweeten the pot!'
The Minnesota Collection is also one of the most complete
in existence. Among the blockbuster pieces on display are a
number one First Charter Original Series $1 note from The First
National Bank of Northfield, famous for the attempted rob-
bery by the lames-Younger gang in 1876. A unique note is a
Third Charter Blue Seal $10 note from The First National Bank
of Sleepy Eye Lake, the only note known to exist with that title.
As impressive as these collections are, they are exceeded by
the notes from Iowa displayed in two rooms. There were 496
national banks in Iowa which issued notes; these banks were
located in 300 different communities. The Higgins Museum
collection has notes from 284 of the 300 towns—a remarkable
achievement. Remember the Terril, Iowa note mentioned
earlier? That note is on display here, and it was acquired for a
substantially higher price than when John originally offered it
to Mr. Higgins.
In addition to the three special collections on display,
representative notes from each state and several territories are
on display in the central "hub" of the museum. The most spec-
tacular grouping of notes, and the one which will (and should)
capture the attention of even the most advanced or specialized
paper money enthusiast, is a collection of 1902 Series Red Seal
notes, representing each state and the territories of Alaska and
Puerto Rico! Nearly a dozen of them are No. 1 notes. This is the
most extensive set of these notes anywhere, lacking only a note
from Hawaii to be complete. None is known to exist, but if it
did I'm sure the Higgins Museum would find a way to get it.
I spent the better part of two days in the museum. While I
was there several visitors came in; all of them were given a per-
sonal tour by John, who obviously enjoys his work. Many
prominent collectors have visited the museum over the years,
both to view the wonderful material and to collaborate with
John on his census of national currency.
I would heartily recommend that every serious collector visit
the museum. It's truly "a place just for us:' John is present at the
museum beginning the week after the Memphis International
Paper Money show; it closes Labor Day. The museum is open
from 11 AM to 5:30 PM Tuesdays through Sunday.
If you're wondering what the rest of your family will do
while you're drooling over all the great notes on display, be as-
sured that they won't be bored. The lakes are spring fed, so the
water is very clear. There are numerous swimming beaches,
boating, amusement parks, golf courses, historic sites, antique
malls, specialty shops, etc.; and make sure you see the beautiful
campus of the University of Okoboji. I can also relate from per-
sonal experience that the many restaurants in the area offer a
variety of excellent cuisine at reasonable prices with pleasant
surroundings.
Okoboji is located in extreme northwestern Iowa, between
East and West Okoboji Lakes; Spirit Lake is a few miles to the
north and east. Okoboji is about 20 miles south of Interstate
90 as it runs across the lower border of Minnesota. Depending
upon where you're coming from, it can be a long drive (in my
case, it's 12 hours one way) but it is definitely a most rewarding
experience. For those who are able to travel by private aircraft,
the local airport is right next door to the museum.
John was kind enough to give me a supply of brochures
describing the museum, and illustrating some of their notes. If
you'd like a copy, please send me an addressed, stamped
business-size envelope and I'll be happy to send you one.
Bob Cochran
P.O. Box 1085
Florissant, MO 63031
DILEMMA (Continued from page 21)
specialist's or researcher's view, the identification of all varieties
is extremely important for whatever clues each detail may offer
to the history surrounding the issues. Therefore, all varieties,
no matter how minor, should be included in the catalog.
Some collectors narrow their collecting focus even further in
order to have a better chance of success at completion. Com-
pletion is important for anyone considering exhibiting their
collection. Further reduction in the scope of a "complete" col-
lection can be achieved by leaving out "type" notes with the
same basic design that were issued in different denominations.
Other "types" may also be omitted, including changed redemp-
tion clauses or different issue locations on otherwise similar
appearing notes. Even title changes on similar "type" notes can
be left out for simplicity, along with similarly designed notes of
different issuers. For example, it is probably sufficient to collect
only one specimen of the stock notes used by various mer-
chants. In this case the only criteria for inclusion in a complete
collection would be a distinctly different face design as deter-
mined by layout and vignettes. Exhibits based on the above
listed premises will also be more interesting to the general
public.
Another issue facing the cataloger/collector is where to illus-
trate back designs for notes and whether to include similar
back designs that only vary by denomination. If the collector is
to be considered, here again we should probably only illustrate
the truly different back designs, thereby reasonably
challenging him or her to obtain examples of major types only.
Backs should probably be illustrated on separate album pages
from the face illustrations, in case the collector wants to re-
move those pages. However, in catalogs, backs should be illus-
trated in conjunction with faces. In the interest of catalog
space, similar designs should only be included once until
someone comes up with a better idea.
So, there you have it, all you need to know about "types" and
varieties of bank notes and scrip. This should clear up any con-
fusion about this topic, at least until the next collector
or cataloger expresses an opinion.
Page 24
Paper Money Whole No. 175
COMPOUND INTEREST
TREASURY NOTES
with the Incorrect Act Date
a second look
by GENE HESSLER
I
N PAPER MONEY (1985) I reported on the $50 com-
pound interest treasury note that bore the Act of July 2,
1864, an incorrect date. Two recent discoveries prompted
me to take another look at this phenomena. However, before
we progress further, the original 1985 article is reprinted here:
For those of us who are interested in uncovering the circum-
stances that relate to the issuance of all types of fiscal paper,
there is a phenomenon that we experience more often than
not. During the investigation of a subject, invariably a topic of
equal, similar or contrasting interest will come to our at-
tention.
While looking for something else in the index of The New
York Times for the year 1885, I stumbled on the subject that
will follow. The article will give all the necessary background.
A MISTAKE IN THE DATE
ANNOYING THE OLDER TREASURY OFFICIALS.
AN IRREGULARITY FOUND IN PRINTING THE
COMPOUND INTEREST NOTES—
WASHINGTON, July 7.—Some of the older Treasury officials are much
annoyed at the discovery just made that a number of fifty-dollar
compound interest notes issued in 1864, and recently redeemed,
bear upon their face the wrong date of the act under which they
were issued. This is also the case with a lot of ten-forty coupons is-
sued the same year, which are now found to be dated a year in ad-
vance of their enabling act.
In passing upon the accounts and vouchers of the United States
Treasurer the First Auditor's office discovered a compound interest
note already canceled which from its general appearance created
the suspicion that it might be counterfeit. The suspected note, with
a few genuine ones, was sent to the Bureau of Printing and En-
graving for expert opinion. They were all pronounced good, but at-
tention was called to the fact that the date of the act authorizing
their issue had evidently been changed on the plate. This caused
First Auditor Chenowith to hunt after the act referred to, but he
could not find it in the Congressional Globe on the date indicated,
July 2, 1864. Further search among redeemed compound interest
notes showed that some were apparently authorized June 30, 1864,
and some July 3, 1864.* In the Congressional Record of July 2 was
found an act passed June 30, but nothing subsequent to that in the
way of amendment rewarded the closest search. Secretary Manning
could tell nothing about it, neither could Treasurer Jordan. Finally
when all the officials got together the conclusion was reached that
* This appears to be a misprint. The other authorizing act was passed
on 3 March 1863.
there was nothing fraudulent in the matter. Whoever had issued the
order for the engraving of the compound interest note plate had
read the law passed lune 30, 1864, in the Record of July 2, 1864, and
had taken it for granted the act was passed on the date under which
it was printed. Then employes who had been in the department
during the war remembered that this error had been discovered in
a few days and that orders were given to change the date on the
plate. In all these years nothing had occurred to call close attention
to the notes and the circumstance was forgotten.
The First Auditor was certain at first that a grand steal had been
unearthed, but now that it is satisfactorily explained he thinks that
the circumstance is evidence of the condition of things at the seat
of Federal Government during the last year of the war. The dis-
covery has set the clerks in the department rummaging through a
lot of old redeemed war issues. They have found that the date of the
enabling act of the ten-forty coupons was printed March 3, 1863,
when it should have been 1864. Other errors of this kind will prob-
ably be found, now that everybody's attention is directed to dates.
Controller Cannon does not think there is anything surprising in
these cases, considering the time and circumstances under which
the money was issued.
On 14 July there was an article that reconfirmed many of the
statements in the earlier one. Controller 'sic] Durham decided that
the note was genuine, issued under and by virtue of the Act of 30
June 1864. He went on to say that "the note conforms in every par-
ticular to the requirements of said act; that it was unnecessary to in-
scribe on the note the date of the act under which it was issued; that
the inscription on the note, 'July 2, 1864; was done through
mistake.
'The Controller 'sic] cites several decisions of the Su-
preme Court to sustain his decision!' He estimated that about
$15,000,000 of the erroneously dated notes were issued, and
approximately $10,000 were outstanding at the time.
Upon reading, or hearing about the mistake in printing,
most citizens, at that time, were probably anxious to redeem
the "error" notes. If such a mistake occurred today, collectors
would be searching for the notes, even willing to pay a
premium to get one.
At the 1991 ANA convention I met SPMC member Mark
Hotz. He showed me a $10 compound interest treasury note
with the same incorrect date of July 2, 1864. All known notes of
this type bear the Act of March 3, 1863 and are dated June 10,
1864, or the Act of June 30, 1864 and are dated July 15, August
15, October 15 or December 15, 1864. Consequently, most ob-
servers said Mark's note with serial number 8275 was a counter-
feit. He wanted an explanation for this oddity, so I referred him
,L,r aari,
d I14:81
24/. i/////v/t //
.1,V7.11,11ti.ae'l
4it 1/11
411.1.
1p :,41-74", 3,317-3 4:4From__In.13
40111.111111
Paper Money Whole No. 175
Page 25
One of two known $10 interest-bearing treasury notes with the incorrect Act of July 2, 1864. The portrait of Salmon P. Chase
was engraved by Charles Burt; the Eagle of the Capitol was engraved by James Bannister. The female figure on the right
cannot be attributed.
to the article reprinted here. This reminded me that I had a
photograph of another $10 note of the same type, also with the
same date, that I had never written about. The New York Times
account of the $50 never mentioned other denominations. We
now know that the same mistake was applied to $10 notes and
could, therefore, suggest that $20 notes might have received the
same imprint.
Both $10 notes, one with serial number 8275, the other with
9592, lack the "Treasury Department" credit, and both were
dated July 15, 1864. In every other respect they are precisely the
same. U.S. Treasury Department records indicate that both the
Continental Bank Note Company and U.S. Treasury printed
these notes. Perhaps the notes without a credit line were
printed by the private bank note company.
Sources
Gengerke, M. (1989). United States paper money records. NYC: published
by the author.
Hessler, G. (Jan./Feb. 1985). Compound interest treasury note, an in-
correct date. PAPER MONEY vol. XXIV, No. 1, p. 18.
(1992). The comprehensive catalog of U.S. paper money. Port
Clinton, OH: BNR Press.
My thanks to Mark Hotz for showing me his $10 note, and my apology
for deleting his name from the acknowledgments in the fifth edi-
tion of The Comprehensive Catalog of U.S. Paper Money
The
Starts Here
A Primer for Collectors
by GENE HESSLER
A
MONG PAPER MONEY collectors who collect by
topic, boats and ships are probably the most popular.
One could present a history of boats and ships with
illustrations on bank notes. The Arab dhow, the Chinese junk
and just about every other type of sailing vessel, including bat-
tleships, have been used to decorate bank notes from around
the world. The list of boats and ships on bank notes is so
extensive-1 have counted over 100 countries—that it should be
easy to find numerous notes at modest amounts. Due to the
popularity of this subject, one dealer (Boats of Note, P.O. Box
2901, Cherry Hill, NJ 08034) issues price lists under the
heading of Boats of Notes.
If you plan to pursue this topic and you are unable to attend
coin and bank note shows, you should have access to the Stan-
dard Catalog of World Paper Money, by A. Pick; most libraries
have it. Dealers use the catalog numbers from this book to
identify the notes they have for sale.
The dhow, a fixture in the Persian Gulf for centuries, can be
seen on at least two notes from Bahrain, 100 fils, P1 and 1/4
dinar, P2. The price for each should not exceed $7.
The 1 piastre from French Indochina, with two junks, will
cost about $6 in uncirculated condition. From the same source
there is a 1 piastre, P76, with a sampam; the cost is about $2.50.
An example of a Chinese junk can be found on 1 yuan, P78.
The notes of China also include an ocean liner; one example is
jai* .
F000001 A
f
NEWTON
NATIONAL BANK
NEWTON
MASSACHUSETTS
yTEA IHIId.Uiti
F000001A
Page 26
Paper Money Whole No. 175
the 5 yuan, P157. A pristine example of the former will cost
about $10, the latter will cost about $3.
The back of the 100 escudo note from Chile, P110, is domi-
nated by a sailing ship; the cost should not exceed $3. An even
larger schooner fills the back of the 1,000 peso note, P269, from
Argentina. The suggested price for this note in the Pick book is
$15 in uncirculated condition.
The 1992 commemorative $1 note from The Bahamas honors
Columbus. On the back there are three ships that represent the
ships associated with the first voyage of Columbus. The Baha-
mian dollar and the U.S. dollar are at par. However, there is a
restriction that places a limit of $60 that may be taken out of
The Bahamas. Even with this restriction, the attractive Bahamas
$1 note is available from dealers in the U.S. for about $2.50.
The Battleship New York is the subject of the back of the U.S.
$1, 1918 Federal Reserve Bank note. The image of this World
War I battleship was engraved by C.M. Chalmers. In extra fine
condition this note will cost approximately $175. Here again, a
souvenir card comes to the rescue.
In 1988, to honor the Convention of the American Numis-
matic Association, the Bureau of Engraving and Printing issued
10,000 souvenir cards with this uniface design printed from the
original engraved plate. As a substitute for the note, the sou-
venir card will do nicely. It is available from paper money or
souvenir card dealers for about $10.
This is just a sampling of boats and ships on bank notes. By
going through a dealer's stock of notes you will notice many
notes with this subject, and there are always new issues. Bon
voyage.
(Copyright story reprinted by permission from Coin World, October
25, 1993)
Small-Size
NATIONAL BANK NOTE
Surfaces
by BOB ANDREWS
I grew up in Newton, Massachusetts and graduated from
the Newton school system many years ago. My first
home was mortgaged through the Newton National
Bank forty-five years ago. Although I have been
specializing in Maine small-size national notes, my
earlier years in Newton created my special interest in this
Newton National Bank note.
A BOUT two years ago I met a gentleman who was dis-posing of his long-time collection of coins and paper
money. I had been recommended to him by a mutual
friend who knew of my numismatic background. I spent many
hours with this gentleman cataloging his coins and trying to
come up with some idea of values for him. Since the major por-
tion of his collection had previously been sold, the remaining
countless cigar boxes and rolled coins, original bank wrapped,
were mostly pennies. Among other things, he had been a bank
officer as well as a bank auditor. This had spurred his interest
in coins and paper money.
Over the course of several weeks this gentleman and I ex-
changed many stories regarding our past experiences. He said
he had an original small-size national bank note, and offered
to show it to me on our next meeting. What a pleasant surprise
to go through the various envelopes of carefully preserved
notes and find this choice uncirculated Serial number 1 note
from the Newton National Bank! He knew the note meant a lot
to me, and he offered to sell it to me as a token of his apprecia-
tion for the help I had given him. It is the only Serial number 1
note I have ever owned, and it has been the center of attraction
at our monthly CCNE (Coin Club of New England) "Show and
Tell" sessions.
PAPER MONEY TIDBITS
by BOB COCHRAN
Quick quiz—what SPMC officer once signed LARGE-SIZE na-
tional currency? Give up? The correct answer is former SPMC
Treasurer I.T. Kopicki.
Mr. Kopicki, who passed away in 1970, was formerly the As-
sistant Cashier of the Lawndale National Bank in Chicago.
According to Dennis Forgue, Mr. Kopicki signed just a few
sheets of large-size currency in his capacity of Assistant Cashier.
One of those sheets, a 1902 Series Plain Back $5-5-5-5
bearing matching serial numbers 9740, and signed by Mr.
Kopicki, was Lot 1135 in the Illinois Numismatic Association
Auction Sale held on September 10 & 11, 1982. The sale was
catalogued and conducted by Auction Galleries of Oakbrook,
Ltd. Lot 1135 is illustrated in the sale catalog.
Paper Money Whole No. 175 Page 27
Catalog of Enveloped Postage
by MILTON R. FRIEDBERG
(Continued from No. 174, page 208)
Address
City
State
Numerical Value
Value Message
Flap Printed
Pedigree
Catalog Number
Paper
Ink
Commentary
Numerical Value
Word Value
Value Message
Flap Printed
Pedigree
Catalog Number
Paper
Ink
Commentary
Numerical Value
Word Value
Value Message
Catalog Number
Paper
Ink
Commentary
Used By
Advertising Message
Address
City
State
Numerical Value
Word Value
Value Message
Flap Printed
Pedigree
Catalog Number
Paper
Ink
Commentary
Used By
Advertising Message
Address
City
State
Numerical Value
Value Message
Flap Printed
Pedigree
Catalog Number
Paper
Ink
Commentary
Used By
Advertising Message
Address
City
State
Numerical Value
Value Message
Flap Printed
Pedigree
Catalog Number
Paper
Ink
Commentary
Used By
Advertising Message
158A
WHITE 67x33mm
BLACK
U.S./POSTAGE STAMPS.
SONNEBORN
Stationer and Printer
130 Nassau-st.
(NY) Note missing N.Y.
(NY)
25
Cts.
25 Cts.
MISSING
MOREAU
159
WHITE
BLACK
POSTAGE STAMPS
TAYLORS' HOTEL, KEPT ON THE EURO-
PEAN PLAN
OPEN AT ALL HOURS J. TAYLOR N.D.
TAYLOR
EXCHANGE PLACE
JERSEY CITY
N.1.
25 (THIN TYPE)
25 CENTS, Postage Stamps, 25
COLE (LOT 4132)
160
WHITE(YELLOW) 70.40mm
BLACK
POSTAGE STAMPS
TAYLORS' HOTEL, KEPT ON THE EURO-
PEAN PLAN
OPEN AT ALL HOURS 1 TAYLOR N.D.
TAYLOR
EXCHANGE PLACE
JERSEY CITY
N.J.
25 (BOLD TYPE)
25 CENTS, Postage Stamps, 25
KRAUSE 133-25, RW X-MOREAU (MISSING
FLAP)
161
YELLOW-ORANGE 73.45mm
BLACK
POSTAGE STAMPS
TAYLORS' HOTEL, KEPT ON THE EURO-
PEAN PLAN
OPEN AT ALL HOURS J. TAYLOR N.D.
TAYLOR
EXCHANGE PLACE
JERSEY CITY
N.J.
50
50 CENTS, Postage Stamps, 50
MISSING
RW X-SEEMAN LOT 1353, MOREALI 1750
162
WHITE, 2" SQUARE
RED
THE CHANGE WITH THANKS
NONE
NONE
NONE
NO
MRF
163
U.S./Postage Stamps.
30
cts.
30 cts
50 CENTS, Postage Stamps, 50
TAYLORS' HOTEL,
EXOHANGE PLACE,
JERSEY CITY, N.J.,
KEPT ON THE EUROPEAN PLAN,
OPEN AT A I.I. 11011118,
J. TATI.0 H. N. D TAYLOR
Page 28 Paper Money Whole No. 175
Flap Printed YES Value Message 50 CENTS
Flap Message SOLD BY DION THOMAS, Flap Printed NO
Flap Address 142 NASSAU STREET, (NYC, NY) 30 Pedigree RW X-SEEMAN LOT 1353
Pedigree HOOBER
Catalog Number 169
Catalog Number 164 Paper WHITE
Paper YELLOW Ink BLACK
Ink BLACK Commentary U.S. STAMPS.
Commentary UNITED STATES STAMPS Used By TICKNOR & FIELDS,
Used By R.D. THOMPSON Advertising Message TICKNOR & FIELDS, PUBLISHERS,
Address 152 WILLIAM ST. Address 135 WASHINGTON STREET,
City N.Y. City BOSTON.
State (NY) State (MASS.)
Numerical Value 10 Numerical Value 50
Value Message 10 CENTS Value Message 50 CENTS.
Flap Printed NO Flap Printed NO
Pedigree RW X-CHAS. AFFLECK Pedigree DF
Catalog Number 165 Catalog Number 170
Paper Paper
Ink Ink
Commentary UNITED STATES STAMPS Commentary U.S. POSTAGE STAMPS
Used By R.D. THOMPSON Used By G.W. & S. TURNEY
Address 104 FULTON ST. Address 77 CHATHAM ST, City N.Y.
City N.Y. State (NY)
State (NY) Numerical Value 25
Numerical Value 25 (6mm HIGH) Value Message 25 cts.
Value Message 25 CENTS Flap l'rinted
Flap Printed Pedigree KRAUSE 139-20
Pedigree KRAUSE 137-25, COLE (LOT 4134)
Catalog Number 171
Paper ORANGE-BUFF 72.37mmCatalog Number 166
Ink BLACKPaper DARK TAN 65x41mm Commentary U.S./POSTAGE STAMPS/10 CTS.Ink BLACK Numerical Value 10Commentary UNITED STATES STAMPS Value Message 10 CTS.Used By R.D. THOMPSON
Flap Printed MISSINGAddress 104 FULTON ST.
City N.Y. Pedigree MRF X-MOREAU (MISSING FLAP AND
State (NY) BACK)
Numerical Value 25 (8 mm HIGH, BOLD) Catalog Number 172
Value Message 25 CENTS Paper WHITE 63x34mm
Flap Printed MISSING Ink BLACK
Pedigree HK X-MOREAU (MISSING BACK AND Commentary U.S. POSTAGE/25 CTS./STAMPS.
FLAP) Numerical Value 25
Value Message 25 CTS.
Catalog Number 167 Flap Printed MISSING
Paper YELLOW-ORANGE Pedigree MRF X-MOREAU (MISSING FLAP AND
Ink BLACK BACK)
Commentary United States STAMPS
Printer R.D. THOMPSON Catalog Number 173
Printer's Address 152 WILLIAM ST. Paper TAN (YELLOW-ORANGE) 74x46mm
Printer's City N.Y. Ink BLACK
Printer's State (NY) Commentary U.S./ Postage Stamps/ 25
Cts.
Numerical Value 25 Numerical Value 25
Word Value CENTS Value Message 25 Cts.
Value Message 25 CENTS Flap Printed NO
Flap Printed NO Pedigree RW X-SEEMAN LOT 1353, KK X-MOREAU
Pedigree RW X-SEEMAN LOT 1353 (MISSING FLAP & BACK)
Catalog Number 168 Catalog Number 174
Paper BEIGE Paper TAN 73x46mm
Ink BLACK Ink BLACK
Commentary United States STAMPS Commentary U.S./Postage Stamps/50 Cts.
Printer R.D. THOMPSON Numerical Value 50
Printer's Address 152 WILLIAM ST. Value Message 50 Cts.
Printer's City N.Y. Flap Printed MISSINGPrinter's State
Numerical Value
(NY)
50
Pedigree KK X-MOREAU (MISSING FLAP AND BACK)
Word Value CENTS (To be continued)
Notes
From
. 3 All Over JudithMurphy
Paper Money Whole No. 175 Page 29
Chances are that by the time you read this the F.U.N. show will
be history, though I am writing it having just returned from the
Michigan State Numismatic Society show in Dearborn, held
annually over Thanksgiving weekend. This has posed some-
what of a problem for me, the time lapse between deadline and
mailing of current issues in that I wish somehow to convey
what is happening around the country to those of you who do
not attend a large number of shows. I am not certain just how
effective that has been. In any case, we had a great time at St.
Louis, at the PCDA show in November. It was convenient to
have everything under one roof and not have to go outside in
the early morning, but instead to be able to go directly from
breakfast to the bourse. Plans are, I am told, to have it there for
the next several years. At that show, Ron Horstman, our mem-
bership director, was presented with the Numismatic Ambas-
sador award by David Harper, editor of Bank Note Reporter at
the PCDA breakfast. Congratulations! We had a good turnout
for the General Membership meeting, where John Wilson an-
nounced his candidacy for the ANA Board of Governors, and
stated that he hoped he'd find lots of support from his fellow
members of the SPMC. Not much doubt about that, John.
Again, at St. Louis, the same generous member who donated
money last year to the publications committee, doubled that
this year, in honor of Gene Hessler, Editor, and Bob Cochran,
Secretary; many thanks.
Interest in CSA paper and related items continues strong as
proved out at the Michigan show, but with fair interest in obso-
letes as well. We had a chance to visit with George and Barbara
Beach briefly and cannot say too strongly how we admire the
valiant struggle this family has carried on against George's
leukemia. Our positive thoughts and wishes are with them. I
ran into Martin Delger who wanted me to remind you all that
the Memphis 1PMS is not that far away and that you need to be
planning your exhibits and getting in touch with him in order
to reserve your cases. Thinking of Memphis, your Board of
Governors met at St. Louis, but lacked one member to make a
quorum, so had only a general discussion of several issues.
One of these was the membership meeting and awards break-
fast; another was whether or not there would be any real in-
terest in a cocktail hour and dinner, either seated or buffet. It is
planned that there will only be an auction session on Saturday
this coming show, so that would leave Friday free for some
SPMC social time, if there is enough interest expressed. Drop
us a line or talk to any officer or board member as you meet
each other and tell us which you would prefer. Hope to see you
all at the Strasburg Scripophily Event at the end of January, or
perhaps the Paper Money Show in Chicago in February? Until
then or next time ....Judith
SPMC MEMBERS HONORED BY ANS
R. Henry Norweb, Jr and Leslie A. Elam flank honorees Arthur M. Kagin,
Frank I. Karen and Eric P Newman.
July 15, 1994 marked the occasion of a special meeting at the
American Numismatic Society, at which four ANS members—
Arthur M. Kagin (SPMC Charter Member), Frank J. Katen
(SPMC Member), Eric P. Newman (SPMC Charter Member)
and John J. Pittman (former SPMC Charter Member)—were
recognized for 50 years of membership in the Society.
ANS President R. Henry Norweb, Jr. chaired the meeting
which included the presentation to each honoree of a hand-
lettered, framed certificate identifying these individuals as
Honorary Life Members of the ANS.
In introducing the honorees, Mr. Norweb remarked, "Today's
program is joyous for several reasons. First, we have the privi-
lege of honoring four members of our Society whose loyalty
and devotion to this institution stretches back 50 years; truly
the modern history of the ANS has been written during their
membership.""... I trust that our honorees are pleased with the
progress that has been made in these past 50 years."
As Mr. Norweb presented the certificates to the honorees,
ANS Director Leslie A. Elam remarked briefly on each in-
dividual.
(Reprinted from Katen's 77th Public and Mail Bid Auction Sale,
courtesy of the publishers)
Paper Money Index Ready
An inclusive index through No. 168 is available for $5
postpaid. A limited number of copies have been printed.
You may order your index from Bob Cochran, P.O. Box
1085, Florissant, MO 63031.
AN APPEAL TO AUTHORS
At the general meeting at the St. Louis Paper Money Show, the
subject of more "how to" articles in PAPER MONEY was dis-
cussed: grading included. Grading, like learning to play a mu-
sical instrument, is best learned by direct application. So, the
editor appeals to anyone who would agree to tackle this subjec-
tive and difficult subject. If more than one member submits an
article on grading, the most comprehensive one will be pub-
lished. However, if multiple articles offer points of view that
prove to be beneficial to our membership, they, too, will be
published.
Page 30
Paper Money Whole No. 175
FROM THE SECRETARY'S MAILBAG
"I would become a lifetime member, but since I am , I
might not get my money's worth!"
'Thank you for the reminder letter. After looking around for
that issue of PM and finding it, I got a little surprise: It hadn't
been opened ...
That issue (NOVEMBER/DECEMBER 1993, CONTAINING
THE DUES RENEWAL NOTICE) came when we had a big fam-
ily get-together the last part of November. My daughter stayed
with us along with her family from Montana. I never got
around to reading that particular issue'
"Please continue sending PAPER MONEY, and renew my
membership in our fine organization"
"Appreciate your (reminder) letter regarding membership
dues. The dues notice did not go overlooked since
has been in a convalescent hospital since the end of October
following a stroke. He has been unable to read more than just
a short personal note since that time. Your letter just received
was very timely because he was ready to renew his sub-
scription ...
(Ever seen one of those city limits signs which says, "Welcome to
Anytown, home of 320 nice people and one old crab"? Well, here's a
letter from the crab.) "I'm not renewing my membership in the
SPMC. I joined it to learn about the paper money I collect,
mainly small-size American currency. To date, after reading
about six PM magazines, all I've seen is articles about Con-
federate money, both real and phoney, and a few articles on
large-size national currency. Also, I joined the SPMC in April
'93 and do not like getting a renewal notice six months later:'
(This man obviously didn't read the membership agreement, whereby
we guaranteed him at least 6 issues of PAPER MONEY for his dues.
But it sounds like we ivouldn't have made him happy, anyway)
LIFE MEMBERSHIP BONUS REMINDER
The life membership bonus first announced in PAPER MONEY
No. 159 has been increased to include two engraved sheets. In
addition to the sheet of presidential portraits, the anonymous
donor has given us an additional 60 engravings of the Statue of
Liberty. These two sheets, engraved at American Bank Note Co.
together have sold for over $150.
The two sheets will be mailed when total payment for life
membership has been completed, and I have been notified by
the membership director of the final payment. The numbers of
the 60 life members to receive these sheets will be published
when all have been dispersed. (ed.)
NEW MEMBERSHIP COORDINATOR
NEW Ronald HorstmanP.O. Box 6011St. Louis, MO 63139
MEMBERS
8720 Lesley Scott, 30024 West Shore Centre, Grand Cayman,
Cayman Islands, B.W.I.; C, World hank notes.
8721 George H. Schade, 50 East Dunlap Ave., Phoenix, AZ 85020;
C.
8722 Ted A. Gilliom, 4099 S. 50 W., Albion, IN 46701; C, U.S. fed-
eral & obsolete notes.
8723 Daniel Levitt, 5855 Carlton Way, Hollywood, CA 90028.
8724 Roger Holland, 4901 Hatton Point Rd., Portsmouth, VA
23703; C, U.S. lg. size notes.
8725 Robert A. Neilson, P.O. Box 98, Bogalusa, IA 70429; C&D.
8726 M.G. Massey, P.O. Box 160, Bogalusa, LA 70429; C&D.
8727 Leon Farmer, Ir., P.O. Box 7548, Athens, GA 30604-7548; C.
8728 Evelyn Koch, 101 Brown P1., Lindenhurst, NY 11757; C.
8729 Rick Trembley, 6513 Sugarbush Dr., Orlando, FL 32819; C.
8730 William F. Smith, Jr., 325 Armitage Dr., Monroe, MI 48161; C,
Monroe, MI obsolete & Nat. BN.
8731 David Smith, 19 King St., Pennsville, NJ 08070; C.
8732 Kelly Jones, 539 Greenmont Dr., Canfield, OH 44406; C, Lg.
size sil. certs.
8733 Roger A. Heller, 3021 Pebblestone Circle, Las Vegas, NV 89117;
C, U.S. currency.
8734 Igor Zhuravliov, P.O. Box 369, Vilnius 2006, Lithuania; D,
Paper money & coins.
8735 K. Atwell, 1616 Victory #201 Box 3784, Glendale, CA 91201;
C&D, Lg. size notes.
8736 Kenneth Margicin, 117 Holmes Ave., Trenton, NJ 08610; C, l.g.
size notes.
8737 Allan Bormel, 7224 Denberg Rd., Baltimore, MD 21209; C,
Colonial & frac. notes.
8738 Kevin Gillespie, 84 Bon Aire Cir., Suffern, NY 10901; C, U.S.
currency.
8739 Daniel Zapora, P.O. Box 1190, Barre, VT 05641-1190; C, Error
notes.
8740 David S. Willis, 123 Marlboro Farms Rd., Rocky Point, NC
28457; C.
8741 T.R. Bischetsrieder, 4265 Carlton Pl., Yorba Linda, CA 92686;
C, U.S. lg. & sm. size notes.
8742 Raymond Reling, 5902C Gunbarrel Ave., Boulder, CO 80301;
C.
8743 Louis Nanni, 65 Maple Hollow Rd., New Hartford, CT 06057;
C, U.S. lg. size notes.
8744 John J. Gerard II, 32 Central Ave., Midland Park, NI 07432.
8745 Jon Botham, 90 W. Juanita Ave., Gilbert, AZ 85233; C&D, U.S.
lg. size & sm. size error notes.
8746 Larry Klubert, P.O. Box 771445, Lakewood, OH 44107; C,
Colonial & U.S. currency.
8747 Corey Campbell, 5539 Garth Ave., Los Angeles, CA 90056; C.
8748 David 1. Lynch, 13217 Tifton Dr., Tampa, FL 33618; C, Col. &
cont. notes.
8749 Don M. Stiller, RR 4 Box 4046, Belton, TX 76513; C, C.S.A. &
Texas.
8750 I. David Fraser, 14 Winchester Dr., Merrimack, NH 03054-
4507; C, Small-size U.S. notes.
8751 Carl Davis, 131 Loraine Forest Dr., Macon, GA 31210; C.
8752 Ray Menzel, 1606 Cavalier Court, Wheaton, IL 60187; C.
8753 Robert W Young, P.O. Box 13023, Fort Wayne, IN 46866; C,
U.S.
8754 R.T. Nores Jr., 2311 Helen Rd., Fallbrook, CA 92028; C.
8755 John Kaiser, P.O. Box 81, Moose Lake, MN 55767; C.
8756 Cameron C. 'Frolic), 1 Sandy Run Rd., Yardley, PA 19067; C.
8757 David F. Sheffner, 2408 West 111th St., Chicago, IL 60655; C.
8758 Lanier Porter, 18604 S.W. 294 Tern, Homestead, FL 33030;
C&D, large-size U.S. notes.
8759 Armen Enkababian, 8 Ballymena Ct., Catonsville, MD 21228;
C, Foreign & large-size U.S. notes.
8760 David W. Porter, 240 Cardinal Dr., Bloomingdale, IL
60108-1317.
8761 James H. Loyd, 4207 Reynosa Dr., Austin, TX 78739.
8762 Mark Schiffer, 5 Fay Court, Wayne, NI 07470; C&D, World &
U.S. BN.
Paper Money Whole No. 175 Page 31
8763 John E. Brawley, 2100 Brickell, Miami, FL 33129; C.
8764 Richard J. Rice, 12901 Benvenue St., Los Angeles, CA 90049; C.
8765 Arthur DeMeo, 15261 Amalia St., San Diego, CA 92129; C.
8766 Dennis Terwilliger, 240 Eagleton Lakes Blvd., Palm Beach
Gardens, FL 33418; C.
8767 Warren Heistand, P.O. Box 15856, Long Beach, CA 90815; C.
8768 Jeff Sommer, 66 South St., Jersey City, NJ 07307; C, U.S. &
C.S.A.
8769 R.T. Graves, 157 Pinion Woods Drive, Sedona, AZ 86351.
8770 Doug Robinson, 65 E. Colorado Blvd., Pasadena, CA 91105;
C&D.
8771 John Butler, Jr., P.O. Box 33732, Las Vegas, NV 89123; D&C.
8772 Richard Perricelli, 1449 Overing St. 14-D, Bronx, NY 10461; C.
8773 William W. Billington, 282 Harding Place, Nashville, TN
37205; C, TN Nat. BN.
8774 Mark E. Fisher, P.O. Box 790, Carpinteria, CA 93014; C, U.S. &
world currency.
8775 Brad Vautrinot, 133 Commander Shea Blvd. #207, N. Quincy,
MA 02171; Lg. size type notes.
8776 Adam Thurston, 7406 Drew Lane, Fredericksburg, VA 22407;
C, Lg. size notes.
8777 Herbert R. Somers, 8044 Greenvalley Dr., Grand Blanc, MI
48439; C, U.S. currency.
8778 Steven R. Statland, 8108 Chelaberry Ct., Gaithersburg, MD
20879; C, U.S. currency.
8779 Michael Tomanich, 3939 Saratoga Ave., E106, Downers Grove,
II. 60515; C.
LMI70 Greg Martin, 5311 W. Broad St., Columbus, OH 43228; C&D.
LM171 Peter Johnson, conversion from 8610.
LM172 Raymond Jacobacci, 1326-43 St., Brooklyn, NY 11219, conver-
sion from 8692.
LM173 Consortium Consolidated Corp., M. Anderson, P.O. Box 7274,
Johannesburg, South Africa.
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
moneymart
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 l'aper 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 ERN 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 53IPM, Burlingame, Calif 94011. Phone
(415) 566-6400. (182)
WHITEHALL, NEW YORK MATERIAL WANTED FOR PERSONAL
COLLECTION. Looking for any material pertaining to Whitehall, New
York including nationals, obsoletes, city scrip, private scrip, advertising
notes, bank histories, etc. Jeff Sullivan, P.O.B. 895, Manchester, MO
63011. (175)
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. (185)
NEW JERSEY—MONMOUTH COUNTY obsolete bank notes and
script wanted by serious collector for research and exhibition. 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 memorabilia. N.B.
Buckman, P.O. Box 608, Ocean Grove, NJ 07756. 1-800-533-6163.
(185)
NEW ADDRESS FOR PERIODIC PRICE LISTS: LI.S., CSA, OBSO-
LETED, STOCKS, FRN, MPC, JIM, WWII, GLIERRILIA, WORLD, NOT-
GELD, STAMPS, FDC, COINS, CHITS. 52¢ SASE APPRECIATED.
702-753-2435. HOFFMAN, BOX 6039-S, ELKO, NEVADA 89802-6039.
(180)
WANTED: TEXAS NATIONALS, especially Hickman-Oakes R4-6, large
or small, all grades. Please send list with prices to Roger Moulton, 3707
Waltham Ct., Yardley, PA 19067. (178)
Buying & Selling
Foreign Banknotes
Send for Free List
William H. Pheatt
9517 N. Cedar Hill Cir.
Sun City, AZ 85351
Phone 602-933-6493
Fax 602-972-3995
Rare Kirtland, Ohio $100
Important Historical Mormon Issue
ti
leflt77..1,171.5*-41.WTY.4`017N7Y
.carflzr rr
533 Kirtland, Ohio, The Kirtland Safety So-
ciety Bank, OH-245. $100. Haxby. G-18.
EF. Dated July 4, 1837. Serial: 113. Made
payable to Joseph Smith. Signed by War-
ren Parrish as cashier and Frederick G.
Williams as President. The central vi-
gnette features the signing of the Decla-
ration of Independence. The writer Alvin
E. Rust described the issues of this bank
as the first Mormon currency endeav-
our." Very rare denomination.
anle471." IPTV tillt+11
E8277E
TAsSlItusg
IriE,1/E.41 SlItteS,
814%1:1, 114 0.TAI,
It1:1.1,ci1a1Mie■ 1:011111t1,
.xis ‘,1•44ALY4#
4.,..11t4i,I.11k6voom .111....Intstopn
8111.1111,,1i 11.0.1104..e N'ti,f)
• •■
Page 32
Paper Money Whole No. 175
BOWERS AND MERENA
for the Best Prices on your Paper Money!
Actual currency lot front a 'cowl Bowers and .11enour auction sale.
Paper money has always- been a
specialty at Bowels and Merena.
We offer:
•
Unsurpassed descriptions
• Prof use illustrations
•
Extensive publicity
• I Vide-ranging expertise
ire would be delighted tofroll er
single important notes and entire
collections.
Please call Dr. Richard A.
Bagg, our Director of Auctions,
at the toll-free number below.
There is no obligation just the
opportunity to sell your
paper money for the very best
market price.
Auctions by Bowers and Merena Inc.
BOX 1224 • WOLFEBORO, NH 03894 • TOLL-FREE 1-800-458-4646 • IN NH 569-5095 • FAX 603-569-5319
SUPERB
UNITED STATES CURRENCY
FOR SALE
///1" k.eve: 11X, D70990
VAVAV:iffillikkitt.#040gt,
arawm pm.ratz, SEND FOR FREE PRICE LIST
tm,r,mlar:forat,
I 4/4/////41/ 4 /4, I'
OEYAIIIA,111 SEM
BOOKS FOR SALE
PAPER MONEY OF THE U.S.
by Friedberg. 13th Edition. Hard Bound.
$17.50 plus $2.50 postage. Total Price. $20.00
,,L;FC:101.44W9023, ■fde,,:ciSS.,;( J.JJ z .L1' 11.121 :3111...y.r
,,/4/ he07, .6/// 64/4 N929443&s.
ekltrArljAbiltV4litts4
(01$1141,181)))141, tt,k
11
COLLECTING PAPER MONEY FOR PLEASURE AND PROFIT
by Barry Krause.
Includes a complete history of paper money.
Much information on U.S. and foreign paper money. Soft Cover. 255 pages.
$14.50 plus $2.50 postage. Total Price. $17.00.
COMPREHENSIVE CATALOG OF U.S. PAPER MONEY
by Gene Hessler.
5th Edition. Hard Cover. $29.50 plus $2.50 postage. Total Price. $32.00.
41/4 ////44 4 /4, 4,./ • /
CONFEDERATE AND SOUTHERN STATES CURRENCY
by Grover Criswell Jr.
4th Edition. Hard Cover. 415 Pages. $29.50 plus $2.50 postage. Total Price. $32.00
NATIONAL BANK NOTES
by Kelly.
2nd Edition. Hard Cover.
Lists all national bank notes by state and charter number.
Gives amounts issued and what is still outstanding. 435 pages.
$31.50 plus $2.50 postage. Total Price. $34.00.
Stanley Morycz
P.O. BOX 355, DEPT. M
ENGLEWOOD, OH 45322
513-898-0114
Page 34
Paper Money Whole No. 175
Pay over "bid" for many
Pay over "ask" for some
Pay over Hickman-Oakes for many nationals
Pay cash - no deal too large.
All grades wanted, Good to Unc.
At 74, I can't wait.
Currency dealer over 50 years.
A.N.A. Life #103 (56 years)
P.N.G. President 1963-1964
A.M. KAGIN
910 Insurance Exchange Bldg.
Des Moines, IA 50309
(515) 243-7363
Buy: Uncut Sheets — Errors — Star Notes — Checks
Confederate — Obsolete — Hawaiiana — Alaskiana
Early Western — Stocks — Bonds, Etc.
Paper Money Whole No. 175 Page 35
Announcing the
CHICAGO
PAPER MONEY
EXPOSITION
FEBRUARY
24-25-26, 1995
Ramada O'Hare Hotel
6600 North Mannheim Road
Rosemont, Illinois
The Chicago Paper Money Exposition will feature a 110 booth bourse area
with leading dealers in United States and world paper money, stocks and
bonds, literature and related paper money ephemera.
* 110 Booth Bourse
* One mile from O'Hare Airport
* Complimentary Airport Shuttle
* Society Meetings
* Educational Programs
* $99 Bourse Fee
United Airlines is the official airline of the Chicago
Paper Money Expo. To obtain special convention
fares, call United at (800) 521-4041 and tell the
agent you are attending event 577YZ.
To reserve a room at the Ramada O'Hare's
special event rate of $69, call the hotel direct
at (708) 827-5131 and tell the agent you are
attending the Chicago Paper Money Expo.
Bourse: KEVIN FOLEY
P.O. Box 573
Milwaukee, WI 53201
(414) 282-2388
FAX (414) 282-3528
The Chicago Paper Money Exposition is Sponsored by
Bank Note Reporter
of
EARLY
AMERICAN
NUMISMATICS
Q.--° *619-273-3566
COLONIAL &
CONTINENTAL
CURRENCY
We maintain the
LARGEST
ACTIVE INVENTORY
IN THE WORLD!
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 D 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
ci*
The "Biggest' little 41
coin and paper I
money show in
New England
kr ELKS LODGE
Pleasant St., Rt. 32
a Willimantic, Conn.
Sunday,
March 5, 1995
9 a.m. - 5 p.m.
6141.d190'
22nd Annual Show
50
50 Dealers
Bourse & Exhibition
Public Invited - Free Admission 50
40
"This is the Place"
for PAPER MONEY COLLECTORS in the Northeast to get
a jump on the Convention Season. Join us again this year
for the largest gathering of Paper Money Dealers and
Collectors in the New York/New England Area.
. . . FEATURING THESE LEADING
PAPER MONEY DEALERS .. .
1. R.M. SMYTHE & CO.—Stocks, Bonds, Obsolete Paper Money
2. DORIC COINS & CURRENCY—Lg & Sm U.S. Currency &
Coins
3. DENLY'S OF BOSTON—All U.S. Paper Money & Obsoletes
4. RABENCO—Fractionals, U.S. Nationals, Lg & sm U.S.
5. CLAUD MURPHY—Confederate & Southern States
6. CHRISTIAN BLOM—U.S. Obsolete Paper Money
7. RUSSELL KAYE, Ltd.—Obsolete Banknotes
8. THE PAPER TIGER (John Schwartz)—Sm. size U.S. Currency
9. R.I. REED ENTERPRISES—Banknotes of the World, Stocks
& Bonds
10.CHINA LAKE COIN & CURRENCY—U.S. Paper Money &
Coins
11.ROGER DURAND—Historical Banknotes
12.NUMISVALU—U.S. Lg & Sm., Nationals & Obsoletes
13.COLONY COIN—Collector Coins & Paper Money
14.BILL AQUILINO—Paper, Medals, Tokens, Worlds Fair
Ephemera
15.ROBERT PETRUCELLI—Confederate currency
. . . Plus 35 other Paper Money, Coin, Token and Ephemera Dealers . . .
Page 36 Paper Money Whole No. 175
INTERNATIONAL
BANK NOTE SOCIETY
MEMBERSHIP DUES & FEES
The current annual dues, in U. S. Dollars and U. K. pounds, are:
Regular membership $ 17.50
£10.00
Family Membership 22.50
12.50
Junior Membership 9.00
5.00
Life Membership 300.00
165.00
Euro Cheques, add .50
For applications for all categories of membership contact
Milan Alusic
P.O.Box 1642, Racine,Wisconsin 53401 U.SA
(414) 554-6255
Nobody pays more than Huntoon for
ARIZONA & WYOMING
state and territorial Nationals
14111A1011151101
1/1.1;:lqr
_ •
UNIMISTATES CAMERA
Peter Huntoon
P.O. Box 3681
Laramie, WY 82071
(307) 742-2217
COLLECTOR OFFERING FOR SALE
OHIO NATIONAL BANK NOTES
In Small-Size Crisp 'inc. #1 Notes: 6059 OXFORD $5 A000001A
443 BUCYRUS $10 Ty2 A000001
858 NEWARK $50 C000001A
In Small-Size, AS A SET: All 29 notes complete for the 13000 Charter range. Unless I hear
otherwise, to my knowledge, this 29 note set is the Only Known Complete Set in existence.
The 13905 Cambridge may be the only note known.
In Small-Size, AS A SET: All 8 notes complete for the 14000 Charter range. Only two notes
have surfaced for 14261 Bethesda. This 8 note set is one of Only Two Sets Possible To Make.
In Large-Size, AS A SET: An 8 note Large Size Type Set from better banks and smaller towns.
EVERY NOTE HAND SIGNED WITH PEN AND INK.
KEN McDANNEL SPMC 1836
1405 WEAVER ST. S.W. CANTON, OH 44706-4543
Paper Money Whole No. 175
Page 37
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
Million Dollar
Buying Spree
Currency:
Nationals MPC
Lg. & Sm. Type Fractional
Obsolete Foreign
Stocks • Bonds • Checks • Coins
Stamps • Gold • Silver
Platinum • Antique Watches
Political Items • Postcards
Baseball Cards • Masonic Items
Hummels • Doultons
Nearly Everything Collectible
gym ) 47praLtar,
Life Member
COIN
SHOP
INC
SEND
FOR
OUR
COMPLETE
PRICE
LIST
FREE
lagO
EST 1960
"1461049,4•0144,..t"
399 S. State Street - Westerville, OH 43081
1-614-882-3937
1-800-848-3966 outside Ohio
° 1107.1..1 .0
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 LM114 — PCDA — LM ANA Since 1976
SPATESSERI OFAMERICA
,
al II,r4 Nuti0--1--.14mo 71.28
N 4-MEM:NWm
art12.0.11...
Yr, 2W, I
/;0477e•
,52.11pipamoniam•
WANTED
ALL STATES ESPECIALLY THE
FOLLOWING: TENN-DOYLE & TRACY
CITY: AL, AR, CT, GA, SC, NC, MS, MN.
LARGE & SMALL TYPE
ALSO
OBSOLETE AND CONFEDERATE
WRITE WITH GRADE & PRICE
SEND FOR LARGE PRICE
LIST OF NATIONALS
SPECIFY STATE
SEND WANT LIST
DECKER'S COINS & CURRENCY
PO. BOX 69 SEYMOUR, TN
37865 (615) 428-3309
LM-120
ANA 640
FUN LM90
Page 38 Paper Money Whole No. 175
1100,
41- Ito
Series
ABOUT
ALLEGORICAL
REPRESENTATIONS
by Roger H. Durand
There are tens of thousands of different vignettes on obsolete bank
notes and many of them illustrate mythological gods and creatures.
Allegorical representations usually have hidden meanings. Could
you identify Amphitrite, Aurora, Fortuna or Tellus? Have you ever
seen a Hippocampus or a Hydra? Would you recognize the personi-
fication of Progress, Wealth, Victory or Fame? This book is full of
previously unpublished information. A complete refund if you are
not satisfied for any reason.
THIS BOOK IS LIMITED TO JUST 300 NUMBERED COPIES
$22.95 pp
Order from your favorite dealer or from the author:
P.O. Box 186
ROGER H. DURAND Rehoboth, MA 02769
,gnterestingoex,
-‘ **0Notes
• • t V •••••••■ V • IT • .1111.7, OTC!, "331
d4,
tit ittooNittmt
r1143 1
t57431
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 5233P
WALNUT CREEK, CA 94596-5233
LIFE MEMBER A.N.A. #1995 C.N.A. #143 C.P.M.S. #11
Paper Money Whole No. 175
Page 39
BOOKS ON PAPER MONEY
Arkansas Obsolete Notes & Script, Rothert
$22 Territorials—US Territorial National Bank Notes, Huntoon $20
Florida, Cassidy (Ind nails & 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, loober $35 World Paper Money 6th ed., specialized issues $55
North Carolina Obsolete Notes, Pennell rent.
$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
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 761, Camden, SC 29020 / (803) 432-8500
FAX 803-432-9958
SPMC-LM
BRNA
FUN
MYLAR D CURRENCY HOLDERS
PRICED AS FOLLOWS
BANKNOTE AND CHECK HOLDERS
SIZE INCHES 50 100 500 1000
Fractional 43/4x2 3 /4 $16.50 $30.00 $137.00 $238.00
Colonial 5 1 /2 x 3 1 /16 17.50 32.50 148.00 275.00
Small Currency 65/6 x 2 7/8 17.75 34.00 152.00 285.00
Large Currency 77/8 x 3 1 /2 21.50 39.50 182.00 340.00
Auction 9 x 33/4 25.00 46.50 227.00 410.00
Foreign Currency 8 x 5 28.00 52.00 239.00 430.00
Checks 95/8x 4 1 /4 26.50 49.00 224.00 415.00
SHEET HOLDERS
SIZE INCHES 10 50 100 250
Obsolete Sheet
End Open 83/4 x 14 1 /2 $13.00 $60.00 $100.00 $230.00
National Sheet
Side Open 8 1 /2 x 17 1 /2 25.00 100.00 180.00 425.00
Stock Certificate
End Open 91/2 x 12 1 /2 12.50 57.50 95.00 212.50
Map and Bond Size
End Open 18 x 24 48.00 225.00 370.00 850.00
You may assort noteholders for best price (min. 50 pcs. one size). You may
assort sheetholders for best price (min. 5 pcs. one size) (min. 10 pcs. total).
SHIPPING IN THE U.S. (PARCEL POST) FREE OF CHARGE
Mylar fa, is a Registered Trademark of the Dupont Corporation. This also applies to un-
coated archival quality Mylar' Type D by the Dupont Corp. or the equivalent material
by ICI Industries Corp. Melinex Type 516.
DENLY'S OF BOSTON
P.O. Box 1010 617-482-8477 Boston, MA 02205
ORDERS ONLY:
800-HI-DENLY FAX 617-357-8163
Milwaukee Calling
56th Anniversary
CENTRAL STATES CONVENTION
April 27th-30th, 1995
PNG Day April 27th
MECCA Convention Center
WISCONSIN'S LARGEST CONVENTION CENTER
4th and Kilbourn
Milwaukee, Wisconsin
Bob Korosec, Chairman 414/541-8650
Russ Konig, Bourse 414/781-4200
Fax 414/781-2883
4040 N. Calhoun Rd., Brookfield, WI 53005
Hosted By
Milwaukee Numismatic Society
South Shore Coin Club
Numismatists of Wisconsin
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
More Cash for your Cash
WISCONSIN
NATIONAL BANK NOTES WANTED
C. Keith Edison
P.O. Box 26
Mondovi, Wisconsin 54755-0026
(715) 926-5001
FAX (715) 926-5043
WORLD PAPER MONEY
* BUY, SELL, TRADE *
* FREE PRICE LIST *
specialized in Poland,
Russia and East Europe
Tom Sluszkiewicz
P.O. Box 54521, 7398 Edmonds St.
BURNABY, B.C., CANADA, V3N 1A8
U.S. CURRENCY
Free Periodic
Price Lists
S & S CURRENCY, LTD.
P.O. Box 1313
LaVergne, Th. 37086
(615) 896-6137
Page 40
Paper Money Whole No. 175
ss )l1' Il 11161 11 .
j
i
I I I \I i; ; I
I; 1 W. I., ; r; Athi [1
i tty I
111,1110)
t !
WE ARE ALWAYS
BUYING
■ FRACTIONAL CURRENCY
■ ENCASED POSTAGE
■ LARGE SIZE CURRENCY
■ COLONIAL CURRENCY
WRITE, CALL OR SHIP:
1.-0-411111.—•—■
2J7Tn A
XL" J ` .1 a re
IIE
LEN and JEAN GLAZER
(718) 268-3221
POST OFFICE BOX 111
FOREST HILLS, N.Y. 11375
--,.„. - ' SOCI 1-,T1
* .,,,
l
ITA )).t M 107s. El
, ( 01.1EC IURS
eti. a net ciz..- : )
Charter Member
Standard catafagag
SCV,rtth ediPonyogi) PAPER All)gy
d rip
• 264 kt..,q
by Pawl' '
0
IGO
MM.
krause
publications
700 E. State Street • Iola, WI 54990-0001
STANDARD CATALOG OF WORLD
PAPER MONEY
7th Edition Volume II,
General Issues By Albert Pick
Edited by Colin Bruce II and Neil Shafer
8-1/2" x 11", hardcover 10,000 photos,
approx. 1,200 pages, $55.00
This revised and thoroughly expanded catalog
enhances its reputation as "the" reference book
for nationally-circulated legal tender over the
last 300 years. More than 22,000 notes are list-
ed, including over 150 new notes from emerg-
ing nations like Estonia, Latvia, Lithuania,
Bosnia-Herzegovina and Macedonia. You'll
also find over 10,000 illustrations to help you
identify issues quickly and easily.
STANDARD GUIDE TO SMALL-SIZED
U.S. PAPER MONEY
By Dean Oakes With special contributions from
Michael Crabb, John Schwartz, Peter Huntoon
and Bernard Schaff
6" x 9", softcover, approx. 250 photos,
300 pages, $24.95
More than 250 large, clear photos are the focal
point of this all new reference. Positive identifi-
cation is easier on the eye. Listings include
more than 14,000 serial number blocks and
groups, and accurate, up-to-date valuations for
thousands of issues from 1928 to the present.
Updated printing figures and a concise, but
comprehensive history of modern U.S. paper
money, make this the most complete treatment
of small-sized U.S. paper money available!
WISCONSIN OBSOLETE BANK NOTES
AND SCRIP
By Chester L. Krause
8-1/2" x 11", hardcover, approx. 1,000 photos,
500 pages, $39.95
Respected collector and author, Chester L.
Krause, presents the most thorough treatment
of obsolete Wisconsin bank notes and scrip
from 1836-1865. More than 1,000 of these rare
and beautiful treasures are illustrated with
large, sharp photos that aid in identification.
Prices are also listed in this landmark edition —
in up to three grades of preservation.
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AQ2
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BOOKS
Qty. Item Code Item Title Price Sub Total
PM7 Standard Catalog of World Paper Money, 8th Edition $55.00
HP3 Standard Guide to Small-Sized U.S. Paper Money 24.95
OW Wisconsin Obsolete Bank Notes And Scrip 39.95
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WI residents add 5.5% sales tax
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'Please add $2.50 for postage for the first book and $1.50 for each additional book. Addresses outside the U.S. add $5.00 per title ordered for postage and handling.
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