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Table of Contents
SEpT/Oci 1995VOL. XXXIV No. 5
WHOLE No. 179
1
i JOHN HICKMAN
We Buy, Sell & Auction
The Very Best In Paper Money,
Stocks & Bonds, Coins & Autographs
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SOCIETY
OF
PAPER MONEY
COLLECTORS
I NC.
Paper Money Whole No. 179 Page 169
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Vol. XXXIV No. 5 Whole No. 179 SEPT/OCT 1995
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IN THIS ISSUE
THE PAPER COLUMN
JOHN HICKMAN'S CONTRIBUTIONS
Peter Huntoon 171
THE STATE NATIONAL BANK OF ST. LOUIS AND ITS
UNIQUE ENGRAVED SIGNATURE CURRENCY
Dave Grant 174
ELEPHANTS ON WORLD PAPER MONEY
Mohammad H. Hussein 183
THE COOPER SHOP VOLUNTEER REFRESHMENT SALOON
IN PHILADELPHIA
Jim Watson
187
THE BUCK STARTS HERE
Gene Hessler 190
THE SEAL OF THE CITY OF NEW YORK
Stephen M. Goldberg 191
THE LITTLE-KNOWN FIRST ANS PAPER MONEY EXHIBITION AND
THE ANS' FIRST MEETING DEVOTED EXCLUSIVELY TO
PAPER MONEY
Ken Lowe 196
POSTAL COMMEMORATION OF BANK OF ENGLAND ANNIVERSARY
Barbara R. Mueller 197
CATALOG OF ENVELOPED POSTAGE
Milton R. Friedberg 198
THE BASICS
Bob Cochran 200
HOW TO START A BANK PRIOR TO 1851
Rocky Rockholt 201
SOCIETY FEATURES
THE PRESIDENTS MESSAGE 203
EXECUTIVE BOARD MINUTES FROM MEMPHIS MEETING 203
AWARDS AT MEMPHIS 204
NEW LITERATURE 204
IN MEMORIAM: JOHN HICKMAN
205
NEW MEMBERS 205
MONEY MART 206
Inquires concerning non-delivery of PAPER MONEY and for additional copies of
this issue contact the Secretary; the address is on the next page. For earlier issues
contact Classic Coins, P.O. Box 95, Allen, MI 49227.
Page 170 Paper Money Whole No. 179
SOCIETY OF PAPER MONEY COLLECTORS
OFFICERS
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STEVEN K. WHITFIELD, 14092 W. 115th St., Olathe, KS 66062
The Society of Paper Money Collectors was organized in
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PHILLIP B. LAMB, LTD.
CONFEDERATE STATES OF AMERICA, HISTORICAL CONNOISSEUR
Avidly Buying and Selling:
CONFEDERATE AUTOGRAPHS, PHOTOGRAPHS, DOCUMENTS, TREASURY NOTES AND BONDS,
SLAVE PAPERS, U.C.V., OBSOLETE BANK NOTES, AND GENERAL MEMORABILIA.
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Paper Money Whole No. 179 Page 171
JOHN HICKMAN'S
Contributions
T
OHN Hickman died June 27, 1995, at the age of 68, and
American numismatics lost one of its most influential
personalities. John had bladder cancer which had
metastasized and was periodically very ill this past year.
Through sheer grit and determination, he attended this years
Memphis show in June to say goodbye to his many friends.
John was a charismatic personality. As such, he was widely
beloved and just about everyone counted him as a friend as did
he they.
The impact of John on the paper money hobby cannot be
overstated. His contributions were devoted almost exclusively
to the field of national bank notes.
When John got into the game in 1965, paper money col-
lecting as we know it was in its infancy. National bank notes
were revered but occupied sideshow status relative to type
notes. At that time, the emphasis in national bank note col-
lecting was on types, and treasury signature collecting as an ex-
tension of type collecting. There were lots of national bank
notes but the market for them was limited because series type
sets could only soak up so many and even the added quest for
signatures made little impact. Pricing reflected the rarity of
types, so the high denomination Original and Series of 1875,
and selected other rarities headed the market. Location was
definitely secondary. Some rather frustrated individuals were
driving prices up for notes with rare signature combinations
but that market was rather artificial because it lacked depth.
Let me tell you about the impact of this. In the '50s and '60s,
when large hoards were still coming out, the dealers would
quickly sort the nationals by condition and type. The really rare
high denomination notes would get saved if they were of an ac-
ceptable grade, and AU or better common series notes were
saved if they had centering, etc. Coin dealers doing this sorting
were largely oblivious to the locations, and even paper
specialists threw back only those few notes that their buddies
were looking for from selected locations. Consequently, a lot
of location rarities went in for redemption because they were
low grade.
I don't want to leave the impression that location collecting
was unheard of in those days. Certainly a few state collections
were being assembled, some even included lowly small-size
notes. A few major collections had most states and many terri-
tories represented, an example being the great Donlon collec-
tion that came on the market beginning in 1971. Some people
even collected specific states or cities such as Philpot and Texas,
or Grinnell who had a particular fancy for New York City
It THE PAPER COLUMN
by Peter Huntoon
banks. But these were rather exceptional cases and their impact
on the market was minor because there were just too many
notes available.
John Hickman, more than any other individual, set that
status quo on its ear. He recognized early that the logical way
to collect national bank notes was to play on their historical
significance to the communities that spawned them. His vision
was to look beyond the series and treasury signatures to the
banks, the bankers and the towns represented, and tie the ro-
mance of the notes to the latter. This focus on location lent it-
self to collecting by region, either county or state.
John tirelessly and enthusiastically promoted this concept at
coin shows, through personal contacts with collectors, and
with his price lists which segregated national bank notes by lo-
cation rather than type. Whenever possible, he regaled his
listeners with anecdotes about the signers, or about the role
and importance of a bank in its community. He possessed an
unending lode of insights about how the bankers handled the
notes, or how the national bank note issues worked as financial
instruments. He had an unlimited memory for such details
and could pull stories out of his hat for any state. So vast was
his knowledge, everyone, no matter where they came from,
thought John was an expert on the banks in their back yards.
Pricing by location began to respond to his ministrations
within five years of his, and his first partner, John Waters, entry
into the market. The fact is that location collecting made sense
because it afforded the typical collector a way to develop a par-
ticularly strong identity with his notes. Collectors flocked to
nationals once this notion was laid out and became widely
promoted by other dealers.
Hickman did not galvanize the national bank note market
singlehandedly. A major contributor and contemporary was
Louis Van Belkum who first compiled a book showing the out-
standing circulations of the banks when they closed, and next
compiled from the Comptroller records in Washington, DC, a
complete listing of the issuances for each bank. As Hickman
was nurturing the marketplace, Van Belkum was providing the
road map.
John, more than anyone, must be credited with seeing the
potential impact of the Van Belkum data on stimulating na-
tional bank note collecting and ultimate on valuations. To
have value, he knew that Van Belkum's data had to be univer-
Page 172 Paper Money Whole No. 179
sally available. However, the first job was to facilitate Van
Belkum's work in abstracting the data from the Comptroller
ledgers in the National Archives. Van Belkum did this work for
a set fee per bank. Hickman encouraged collectors to contract
with Van Belkum for the data from their areas of interest. Of
course he received copies for his trouble. Once he had ex-
hausted this avenue, he arranged for the William Higgins
Foundation to purchase the data for the remaining locations
that had not been previously sponsored by collectors. All the
while, he relentlessly traded data sets he possessed for those he
didn't until he corralled the entire country.
The astute collectors were similarly gaining access to these
data, most with his direct or indirect help. As these data be-
came available and the rarity road map clarified, interest and
upward pricing naturally snowballed. By the early '70s, na-
tional bank location collecting was the preferred choice and
prices had advanced appreciably over '60s levels. As a dealer,
John Hickman was riding the crest of this wave which he had
largely created.
He was not finished with the Van Belkum data though. It was
available but not readily accessible. To get it into collectors
hands, he and his second partner, Dean Oakes, arranged with
Krause Publications to publish it in the now benchmark
Hickman-Oakes phone book-size catalog in which they even
provide rarity information. The first edition came out in 1982.
My own case reveals how John could influence one collector.
I got in the game in 1963, and found my first national in 1965.
These strange notes had a special resonance. My first impulse
was to collect one from each state. When I discovered John
Hickman, which didn't take long, he was then pushing this
idea as well, but I recall that his particular emphasis at the time
was on encouraging collectors to acquire notes from state cap-
itals. His concept for collecting nationals was starting to evolve
toward collecting counties. Only this could soak up the vast
supply available.
I lived in Arizona at the time and was naturally drawn to the
possibility of getting a few notes from my home state, but even
then they were very seldomly available, and besides I was a kid
without means. However, I did have the prescience to buy
those that came my way and gradually the idea of getting one
per bank took hold. Hickman's lists with each state blocked out
had a strong influence on my decision to pursue this course.
However, my modest collection slowly became disproportion-
ately populated with small-size notes because I didn't think I
could afford the more expensive blankets. After all, a large-size
Arizona note in those days cost between $75 and $200. Now
here is the important part. John Hickman was mentoring me
just like he did anyone who would take the time to talk to him.
He expressed great enthusiasm for what I was trying to do, both
in terms of my state collection, and my budding Arizona col-
lection. My wife Sue was from Iowa, so I would occasionally
visit him and Waters in Des Moines. Soon I had a good per-
sonal friendship with this guy, just like everybody else. He was
a magnet.
He asked me to bring my collection along on one of my trips
to Iowa so he could see it. This I did, and he and Waters pored
over it. I was quite proud of the Arizona set. I had a lot of the
banks, although most were represented by small-size notes. He
was most supportive, but then both he and Waters turned to
me and asked why was the set so light on large-size notes? My
answer was of course cost first and availability second. They then
got serious, especially Hickman, and pointed out that there
seemed to be no serious Arizona collectors at the time which
provided me with a real opportunity. Based on the true rarity of
the notes from the place, the large-size notes on the market
looked cheap relative to other areas where competition was de-
veloping. John also pointed out that Arizona notes—including
territorials—did not appear very frequently and my budget could
probably keep pace with them, particularly if I would get a job.
He even suggested that I could help finance my quest by fun-
neling other material of lesser interest through them! You know,
this was the best advice I ever got in numismatics!.
Chastened, I returned to Arizona and bought every large-size
Arizona note that I could reach through the market. If my
means were stretched, I simply sold other stuff, often to
Hickman and Waters. I tirelessly traded other collectors out of
every Arizona blanket they would let loose. I got in on the
ground floor for Arizona, and I thank John Hickman for
forcing me to see the door.
Notice that there was not one word in John's advice about
"go for condition," The emphasis was always go for rarity NOW.
I got the note, then worried about upgrading it. Incidentally, I
never did get to upgrade some of the lower grade rarities that
came in during those early days!
John made another point early. Don't be a hog. Sell or trade
your duplicates so other collectors have a chance. It serves no
purpose for one collector to own them all, the duplicates should
go out and stimulate new collections. Hickman realized that the
apparent abundance of nationals in the early '70s couldn't last
as location collecting took hold. He also realized that if there
isn't any material, there won't be interest and collectors will drop
out. Who do you sell to when you are finished if you have them
all and have driven out all of your competitors?
One fortunate friendship Hickman cultivated was that of
William Higgins of northwest Iowa. Higgins was a crown col-
lector, had means, and was a bachelor. He had a passing in-
terest in paper money and through his association with
Hickman developed into one of the most passionate location
collectors ever. Higgins liquidated his crowns through auction
and plowed the proceeds into nationals. His specialty was Iowa
although the contiguous states also interested him as did a
state-territorial set. John helped Bill assemble his preeminent
collection and in fact Higgins' collection was also John's.
Left to right: John Hickman, William Higgins, Dean Oakes, at
the Iowa Numismatic Association Convention, October 1973.
Paper Money Whole No. 179
Page 173
Higgins wanted to leave his mark so Hickman helped him de-
velop and ultimately implement the concept of a national
bank note museum. The Higgins Museum at Okoboji, Iowa, is
the fruit of more than a decade of Hickman's pursuit of that
grail. The museum is not simply a place where a lot of notes
hang on the walls, it houses a library and other archival
documentation to support serious research. For example, it
owns a complete set of the Annual Reports of the Comptroller
of the Currency, numerous bank directories, and now
Hickman's vast files of known notes.
Hickman recognized almost from the beginning that the Van
Belkum data could not provide the complete road map to
rarity. The vagaries of survival dictated that issue totals could
not be the last word. Hoarding patterns made selected small
issues readily available whereas other factors drove large issu-
ances to virtual extinction. The only real insights would ulti-
mately come through cataloging all the known notes. Early on,
even in the late '60s, Hickman began to collect census data on
national bank notes. He even bought photocopy machines to
record those that he handled or those that collectors would
show him. He badgered collectors and dealers alike to supply
data, photocopies preferred. When possible he enlisted the aid
of prominent location collectors to join him by maintaining
thorough records of notes from the areas that they tracked. The
result by the time of his death was information on about
150,000 notes. Everybody seems to collect data now, but this
did not really catch on until the last few years. Those of us who
pioneered this concept had a hard go of it early on.
John Hickman recognized that census data was ultimately
worthless if secreted away. Before he died he began to consider
ways to make it available in a more sophisticated form than the
simple count rarity scales in the Hickman-Oakes catalog. Some
years ago, John, the hyper guy who could hardly sit still,
bought a computer and began the painstaking process of log-
ging his data into the system so that he could organize it. By the
time he died, he had almost 100,000 entries. His hope was that
he would live to finish this job but toward the end entering 200
records a day became an exhausting pace and he lamented to
me just a day or two before he died that he wasn't going to
make it. He enlisted Don Kelly to finish the task.
What we will see in the next few years is a lot of trading of
such data just like we did with the Van Belkum data. Before
long you will be able to buy a book the size of a phone book
that will list the known notes. We aren't far from being there.
Those who hoard such data for their short term personal ad-
vantage will ultimately be overwhelmed as the collective tide
rolls over them.
Another concept that Hickman helped nurture was that of
the sealed bid auction of national bank notes. Auctions have
been around forever. By the time John Hickman got estab-
lished, numismatic auctions were not regarded as the bastion
of lofty ethics, and collectors were generally gun-shy about par-
ticipating in them. John wanted to foster an auction environ-
ment that operated on a level table for all, where the collector
and dealer competed on equal footing. Of course, he also
wanted to see his material achieve its maximum potential.
More importantly for his business, John felt that if collectors
could trust the auction—his auction—he would get to handle
considerably more material than if he operated directly from a
stock. Thus, he and Dean Oakes pioneered the modern na-
tional bank note auction beginning in 1976, and set a prece-
dent for the modern auction machine that now dominates
national bank note sales. His philosophy was that he didn't
really have to own every note; he would be just as happy to get
10 percent of the value of each one that went by! The fact is that
Hickman actually owned very few notes after Waters retired
from their partnership in 1972.
John handled a lot of nationals, and many of the great rari-
ties. Without doubt, though, his all time favorite was the $10
Series of 1882 brown back on The First National Bank of Win-
nemucca, Nevada, which he handled in 1970.
John realized that collecting, like sex, defied logic and
thought that spending money for old paper money didn't
really make rational sense. But if you accept human foibles
such as a need to have ties to the past, hunger for power and
stature through possession, desire for competition between in-
dividuals, love of aesthetics, and all the other peculiar elements
that combine to yield a collector, you have the basis for a very
dynamic market. If there is a dynamic market, there is always
room for a salesman.
John Hickman was a salesman first and national bank note
specialist second. When it came down to the essence of it all, he
enjoyed the machinations of the game more than the notes
themselves. If you understood him, you discovered that the
notes were simply a vehicle for a much larger engagement with
life. His stories centered on the people because he was a
people-oriented human being. He was not particularly materi-
alistic and lived a rather modest lifestyle. Given a note,
Hickman would spin two types of tales: the stories of the
signers whose names appeared on the note, or the tales of the
people who had owned the note.
John loved the lineages of the famous rarities and particu-
larly the intrigues that surrounded their transfers in ownership.
He also relished knowledge of the stories behind the more
colorful people who were players in our game.
He perceived his role as a dealer as being the facilitator who
caused material to move to where it was most appreciated.
John was a master at playing on the tensions inherent in col-
lectors who both wanted more and possessed much. One type
of deal he particularly enjoyed was where he matched an ar-
dent collector with something the guy couldn't live without but
at the same time he separated the guy from something great
that could be used to tantalize and tease yet someone else.
Above all, John loved to cut complicated deals where he got a
piece of each of the parts! He enjoyed three and four way deals
where the material followed tortuous routes. He would create
the dance floor and then orchestrate the dance. I got involved
in a number of these and they could last months. Part of the
dance involved trades, another cash deals, and another an auc-
tion sale.
But the point is, this is how the truly great material moves. A
lot of the best stuff just doesn't go to the highest bidder in a public
auction. Money doesn't move many owners. Hickman repre-
sented a master at the dying art of manipulating reluctant owners
to become sellers, and often the price did not involve cash!
Part of John's walk through life and part of his estate came
out of my hide, and you know it was a real pleasure letting him
earn it. He and his heirs are welcome to it. The important thing
is that our 30-year friendship enriched me appreciably and he
added substantially to my enjoyment of numismatics and life
in general. I really feel a big loss now that the realization that
he is gone has sunk in. John Hickman is irreplaceable.
Page 174 Paper Money Whole No. 179
The State National Bank of St. Louis
and its Unique Engraved Signature Currency
by DAVE GRANT
The note illustrated below, poorly cut and in mediocre condition, is nonetheless one of my fa-
vorite St. Louis National Bank notes. Unlike the '02 notes of any other St. Louis national banks,
this note carries signatures engraved on the printing plate at the Bureau of Engraving and
Printing. The note was in the middle of a pile of "you won't find anything in there, its really just
junk" notes apologetically offered by a dealer at the fall paper money show in St. Louis a couple
of years ago. Significant items do lay around waiting to be discovered by the persistent and
studious.
Curiously, although several St. Louis banks had very large circulations during the 1920s—
the most notable of which was the National Bank of Commerce, Charter 4178—only the State
National Bank chose to have signatures engraved on its plates, and not until the end of 1928.
laTilb.731,svzsArt milemlo.teuenoefroseAralMely= a ar.ef ow4.161virriz•-liwsrarxer ,
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BACKGROUND OF THE STATE NATIONAL BANK
HE earliest direct ancestor of the State National Bank
was the State Savings Institution, incorporated on De-
cember 29, 1855. The Institution was chartered as a
savings bank, but engaged in all of the functions of other com-
mercial banks except for the issuance of bank notes. An early
advertisement indicates that:
This institution is prepared to receive on deposit specie and cur-
rency, and allows interest thereon; buys and sells Exchange. collects
notes, etc (City paper without charge)
Banking hours were from 9 AM to 3 PM and offerings for dis-
count were to be made daily before 10 AM, for which an answer
would be given by 11 AM.
Acknowledging the Institution's focus, in 1857 the Missouri
Legislature authorized the conversion to a bank of issue under
the name "Bank of Commerce!' State's shareholders failed to
ratify this arrangement, in part due to worsening economic
conditions at the end of the year, and the opportunity was al-
lowed to lapse.
The Institution's strong capitalization helped it survive the
Panic of 1857, although it and other St. Louis banks suffered a
series of runs in late September and early October. Two years
later the Missouri Legislature passed the Richardson Act, pro-
hibiting state chartered savings banks from accepting bank
notes quoted at less than par. It was common to accept
deposits in the form of checks or notes drawn on outstate
branches of St. Louis headquartered banks. With the shortage
of specie, the home offices in St. Louis increasingly refused to
redeem their branchs' bank notes except at a discount or would
only permit the deposit of such notes as "bankable funds!'
Thus, under the Act, such notes were not acceptable for deposit
at chartered savings banks. To preserve this important segment
of business, the Institution chose to surrender its charter and
the shareholders formed an unchartered partnership as the
State Savings Association. The amount of $100,000 was added
to capital but, because of the partnership arrangement, the
strength of the bank was greater than its stated capital. A June
1860 Banker's Magazine article summarized the situation by
noting that the State Savings Association is "one of the few in-
stitutions where every stockholder is liable to the extent of his
private fortune for the liabilities of the bank in case of in-
solvency"
Times changed, and on January 26, 1864 the State Savings
Association was rechartered since the passage of the National
•
SHARE S
1771, -tjAc..40,..44,,„fr
k .4 )
' .i(%/t //5//aee(ee,,A,
_
( ///i/a..7/.
V4q117:ti. je71-6,47,eity.8"90.070.-r-.--
—
( w //f n,4 d'ir,//), 'A 44,i'.
(A, \,) ,/7; ,i,„:////.0,,,,-47//,/%7,(//: (///61,7) . 17//, ////'/ I//(/
? ////// //// /:). (7'th /r1fh
me- 1719110M ZED CAPITAL $1.0 0 0.0 0 O.
Paper Money Whole No. 179
Page 175
A stock certificate from the State Savings Association, dated June 21, 1869 and signed by John J Roe as president and Charles
Parsons as cashier. The stock of the national bank had the same layout with par value at $100 and authorized capital to-
talling $2 million.
Not shown, the back of the certificate indicates payments received by the shareholder—Charles Hasebrock—after the forma-
tion of the national bank. In 1899, Hasebrock received 28 shares of State National Bank stock and $63.62 in cash for each
Association share. The liquidation of the Association's assets not transferred to the new bank took a number of years and
Hasebrock received additional cash payments between 1900 and 1907 totalling $25.50 per share.
Bank Act made the prohibitions of the Richardson Bill a dead
issue.
In 1888 the company became the State Bank, more descrip-
tive of its business, although the actual operation and officers
were unaffected. Eleven years later, on January 30, 1899, the
State Bank and the Commercial Bank consolidated into the
newly chartered State National Bank of St. Louis, with paid-up
capital of $2MM and National Bank Charter number 5172.
The Commercial Bank had been founded in 1868 and had
been held in very high regard. This changed when an examina-
tion in 1898 revealed that a very large nonperforming loan
threatened Commercial's soundness. A commercial insurance
agent owed the bank over $600,000 of which $400,000 was
considered to be a loss. This was the result of a series of increas-
ingly large loans which had, at first, been repaid through the re-
ceipt of premiums and commissions. Eventually, the very large
size of the debt became unmanageable. Rather than permitting
the bank to fail and liquidate, management began to look for
a merger partner, approaching the National Bank of Com-
merce, Third National, and St. Louis National. The best terms
were received from the State Bank, which took the opportunity
to thoroughly clean both institutions of questionable assets.
State Bank's first three presidents—R.M. Henning, John How
and John Roe—were all successful St. Louis merchants. The
bank's first professional banker, Charles Parsons, became presi-
dent in 1870, a position he held until his death in 1905.
Through 40 years of service, it was Parsons who had the
greatest impact on the bank.
Parsons was born into an established New York merchant fa-
mily in January 1824. He spent several years as a clerk in his
father's store, in a bank and then as a partner in a commercial
house in Buffalo, New York. He came to St. Louis in 1850, but
was encouraged by Henry Bacon, of the important local
banking house of Page and Bacon, to establish a bank in
Keokuk, Iowa. At the start of the Civil War, Parsons left this suc-
cessful enterprise and volunteered his services to the Union.
With strong business capabilities, he was put in charge of the
Union Army's rail and river transportation operations at St.
Louis. Parsons' administration was so successful that he was
promoted to lieutenant colonel and was offered the position of
Director of the Bureau of Railroad Transportation for the entire
United States in 1864. He declined, preferring instead the op-
portunity to become cashier of the newly rechartered State
Savings Association. This was essentially the key manager of
the Association and Parsons was elected president in 1870.
Pershall's Book of St. Louisians notes that the success of
Parsons' tenure was such that the bank never paid a dividend of
less than 5%, and for most of the period the dividend was 8%.
Charles Parsons in the 1880s
Page 176 Paper Money Whole No. 179
At the same time, the bank amassed a capital surplus of $1.1
million. Parsons was well-known in national banking circles
and had been proposed for the Secretary of the Treasury. He
was president of the St. Louis Clearing House for more than
two decades, had been American Banker's Association presi-
dent several times, and was selected to preside over the World's
Congress of Bankers and Financiers at Chicago in 1893. He be-
came St. Louis City Treasurer in 1892, after a large embezzle-
ment had been discovered, and resigned only after the
completion of an investigation, restoration of the books and
the election of a new Treasurer.
Although Parsons reputation and extensive business con-
nections brought substantial opportunities to the bank, bank
examinations at the turn of the century reveal that his long
tenure also had a downside. While the bank was very sound, its
facilities were felt to be too small, some processes were overly
cautious or old-fashioned and even the vault was old, out of
date and offered little protection. In his 1901 examination, Na-
tional Bank Examiner W.P. Fulkerson observed that the bank
had not seen the level of growth compared with other banks
and that "it would prove wholesome to the institution to in-
terest some more active businessmen" in the directorate.
Changes were slow to come, however, and Parsons was suc-
ceeded by two other "old timers;' Lorraine Farquar Jones and
John McCluney.
The Security Building, the home of the State National Bank from
1892 to 1929. The corner entrance has been closed off but otherwise
the building looks the same today as it did in 1896.
L.F. Jones was born in Charleston, West Virginia in
November 1837 and began his career as an office employee at
a Rhode Island cotton mill in 1853. As with Parsons, he felt the
need to serve his country at the outbreak of the Civil War. He
returned to the south in 1861 and enlisted in the Confederate
Army where he rose to the rank of Captain of the Richmond
Howitzers. At the end of the war he relocated to St. Louis and
helped to organize the American Manufacturing Company, in
which he remained an officer until his death. Although Jones
had been a director and first vice president of the State Bank
immediately prior to his election as president in 1906, Jones
was not a professional banker. Nevertheless, when succeeded
by John McCluney in 1907, Jones became the bank's chairman,
a position he held until at least 1909, and remained a director
until ill-health and old age forced his retirement from the
board on September 9, 1913.
and Edward Pryor in 1900.
McCluney was also a West Virginian, born in Wheeling in
1840, although his family moved to St. Louis shortly thereafter.
McCluney joined the bank in December 1857 and served con-
tinuously at the State Bank until his death. In the 1860s he was
a teller, and succeeded Parsons as cashier in 1870. He was
elected second vice president following the organization of the
State National Bank in 1899. One has the sense that he
managed most of the day-to-day affairs of the bank even prior
Paper Money Whole No. 179 Page 177
to Parsons' death. In fact, he was initially offered the presidency
but declined in favor of L.F. Jones who was technically "second
in command': At the anniversary of McCluney's 50th year with
the bank on December 2, 1907, Jones resigned and McCluney
was finally named president. His death in April 1914 ended his
career with the bank.
Edward Bailey Pryor succeeded John McCluney. Pryor was
another West Virginian, born in Fayetteville on March 8, 1854
but had been raised and educated in Palmyra, Missouri. He
joined the Wabash, St. Louis and Pacific Railway Company as
a clerk in the auditor's office in December 1879 and held in-
creasingly important positions, eventually becoming the assis-
tant to the president and vice president of the Wabash
RailRoad. This railroad entered receivership, and in 1912 Pryor
was one of three court appointed receivers.
During this period he was also a director of the State Na-
tional Bank and resigned from the receivership to become
State's president following McCluney's death in 1914. Despite
plunges such as financing the Spirit of St. Louis in 1927 and
some modest attempts at modernization, the bank remained
conservative and focussed on business lending, lacking a
savings department or other services that would appeal to the
consumer or retail market.
The late 1920s saw significant consolidation among major
St. Louis banks. On July 1, 1929 the State National Bank surren-
dered its national charter and merged with the Mississippi
Valley Trust Company and the Merchants-Laclede National
Bank to become the Mississippi Valley Merchants State Trust
Company. On opening day, this state chartered trust company
held assets of $80 million and had capital of $9.6 million. This
merger had been in the works since late 1928, but the State
Bank did not become involved until March of 1929. Originally,
the chairman of the new organization was to have been George
Hoffman of the Merchants-Laclede Bank and Pryor was to be-
come chairman of the executive committee. Hoffman unex-
pectedly died in April 1929, however, and Pryor became
chairman of the combined institution. State National Bank
shareholders received 28% of the stock of the new company.
Not all assets were transferred to the new organization, and a
liquidation company was organized—the State National Secu-
rities Company—to dispose of these assets and to pay the
resulting proceeds as additional dividends to shareholders.
Pryor acted as the liquidating agent, and was winding-up its
affairs at the time of his death in May 1935.
CURRENCY ISSUES OF THE BANK
During its 30-year history the bank issued 2,291,192 bank notes
with a total face value of $19.8 million. Three types of notes
were issued: 1882 Brown Backs and 1882 Date Backs, and 1902
Plain Backs. The issues and the five known signature combina-
tions are summarized in Table 1. The 1882 Date Back note is
very common for State, even in high grade, and even a few $50s
are known. Three St. Louis banks issued 1882 Date Backs: State,
the National Bank of Commerce and Merchants-Laclede, and
by far State's notes are the most commonly encountered by the
collector.
It's also of interest to note that the bank should have issued
1882 Value Back notes starting in 1916 until its recharter in
1919. The bank must have had sufficiently large quantities of
Date Back notes at the Currency Bureau so that additional
printings in the form of Value Backs were unnecessary.
As suggested by Table 1, the scarcest signature combination
is that of McCluney-Thompkins on 1882 Brown Backs. By con-
trast, either an 1882 Date Back or a 1902 Plain Back carrying the
overprinted signatures of Pryor and Stadler is extremely
common. These are usually "vanity-style" signatures printed in
a bold black ink, and are frequently mistaken for autographs.
A comparison with almost any other note with this combina-
tion will reveal that the signatures are, in fact, identical. While
autographed notes may exist, this author has not encountered
such examples.
THE 1928 ENGRAVED SIGNATURE ISSUE
National bank notes with engraved signatures are generally not
scarce. They are easy to distinguish from notes on which signa-
tures were overprinted since the signature lines were removed
from the plates when the signatures were engraved. National
bank notes were usually delivered unsigned and uncut to the
banks, which had signatures added prior to issue. Originally,
facsimile signatures were not permitted. Autographs were be-
lieved to be an effective anti-counterfeiting device. The
resulting burden on banks with a large circulation must have
been horrific and many began to lobby for the use of artificial
methods of signing the notes. In fact, some banks may have ac-
tually employed such methods, since the 1881 Annual Report of
the Comptroller of the Currency recommended that artificial
methods of signing the notes be outlawed and a $20 fine be
imposed for each violation.
Table 1
STATE NATIONAL BANK OF ST. LOUIS
KNOWN SIGNATURE COMBINATIONS ON NATIONAL BANK NOTES
1882 BB 1882 DB 1902 PB
Cashier—President
OVERPRINTED SIGNATURES
Thompkins—Parsons
Thompkins—Jones
Thompkins—McCluney
Stadler—McCluney
Stadler—Pryor
1/99-12/05
1/06-12/07
12/07- 1911
1911- 4/14
4/14- 6/29
Dates in Office $5 $10 $20 $5 $10 $20 $50 $100 $5 $10 $20
L
L
X X X
ENGRAVED SIGNATURES ($5s only issued after Dec. 8, 1928)
Stadler—Pryor X
X Signature confirmed for the issue
L Signature likely to exist for the issue
•Page 178 Paper Money Whole No. 179
Within ten years, the attitude expressed by the Comptroller
had been entirely reversed. In discussing the Act of July 28,
1892 it was noted that signatures of the bank officers were not
essential to bind these liabilities to the bank. In fact, notes
stolen from the bank and placed in circulation with forged, or
even no, signatures were considered as legal obligations of the
bank and were honored when presented for redemption.
Thereafter a variety of methods was used to apply signatures in-
cluding handstamps and local printers, although some officers
continued to sign each note by hand. The Comptroller took a
further step in recommending that engraved signatures be
added to notes by the Bureau of Engraving and Printing. In the
Comptroller's 1914 Annual Report, it was noted that:
The new Federal Reserve note issues, like all other current govern-
ment obligations simply bear the engraved signatures of the ap-
propriate Government officers.
This would be a considerable timesaver for banks, no longer having
to stamp, print or sign each note.
The notes would hold up better in laundering, which had been
used for the "renovation, renewal or washing" of other currency. By
contrast, notes with printed or written signatures could not hold up
to laundering without blurring or destroying the signatures.
This recommendation continued to appear periodically in
the Comptroller's Annual Report. Finally, and appropriately
enough, a revision of section 5172 of the National Bank Act, ap-
proved on March 3, 1919, authorized the engraving of the signa-
tures of the president or vice president, and cashier on the
plates for printing the notes. A number of both large and small
banks took advantage of this opportunity.
There is an interesting ledger in the Suitland Facility of the
National Archives which details the production of printing
plates and the associated costs from the end of April 1925
through the end of June 1933. A number of charges associated
with the production of printing plates are indicated. In general,
production of an original four note plate cost $130; as the
plates became worn with use, duplicate plates were produced
at a cost of $120. On March 7, 1925 an entry notes that the State
National Bank paid $120 for the creation of a duplicate
3/$10-$20 plate G-H-I-C to replace plate D-E-F-B.
A second entry for the State National Bank was made on Oc-
tober 29, 1928: "Engraving 2 signatures and transfer to 2 plates!'
The bank paid $78 for this service. Specimen sheets in the
Smithsonian Collection confirm that signatures were added to
both the 4/$5 plate I-J-K-L as well as the 3/$10-$20 plate G-H-I-
C and examples both before and after the alteration are illus-
tf7+171,,2),4,
UNITED STATES )5172
414r-, ne [a, ev-x<4,,
W312-4° —
Moil 0004" IRMA
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•
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The five signature combinations on 1882 Brown and Date Backs. The top two combinations appear exclusively on Brown
Backs while the bottom two combinations are only on Date Backs. The Thonipkins-McCluney combination is transitional
and appears on both types.
Paper Money Whole No. 179 Page 179
,,.,SEILTITEIIIITINITEDST.L., MINDS PJt'OS
111M11111111
•
•
14V VAt#1.1
Comparison of the typical overprinted signatures (top) versus engraved signatures. Notice that the signature line only ap-
pears on the note with overprinted signatures.
Table 2
4/$5 SHEETS, DATES RECEIVED AND ISSUED
BY THE CURRENCY BUREAU
RECEIVED ISSUED
Beginning Ending Total
Sheet # Sheet # # Sheets
Beginning
Sheet #
Ending
Sheet #
Total
# Sheets
Issue brought forward from before 3/11/25 138,000
10/29/28 SIGNATURES ORDERED FOR PLATES
11/19/28 ALTERED PLATES APPROVED
12/04/28
138,001 138,995 995
12/08/28 138,996 141,965 2,970 138,001 138,785 785
12/13/28
141,966 144,949 2,984
12/15/28 138,786 139,755 970
12/17/28 144,950 147,708 2,759
12/22/28-01/15/29 139,756 143,135 3,380
03/28/29 143,136 144,135 1,000
04/04/29 "Issue suspended acct 5% fund"
04/10/29 "Notice to resume issue" 144,136 145,435 1,300
04/18/29-05/08/29 145,436 147,255 1,820
05/15/29 LAST ISSUE OF 5s 147,256 147,570 315
07/01/29 VOLUNTARY LIQUIDATION
07/19/29 CANCELLATION OF REMAINDERS 147,571 147,708 138
trated. A specimen from the I-J-K-L 4/$5 plate was originally
pulled on October 8, 1923; an example from the altered plate
was drawn on November 19, 1928, about three weeks after the
order was placed. Similarly, the original 3/$10-$20 plate G-H-
I-C was proofed on March 25, 1927 (18 days after the order)
with the specimen from the altered plate pulled on November
17, 1928.
Ironically, with the merger, this action became somewhat
moot. A number of $5 notes with engraved signatures was is-
sued but the altered 3/$10-$20 plate was used to print a
number of notes, none were ever issued to the bank!
The Bond and Currency Ledgers at the National Archives in-
dicate why this occurred, and key data is summarized in Tables
2 and 3. As indicated in Table 2, there were no $5s in "inven-
tory" at the Currency Bureau when the plate alterations were
ordered. There were 138,000 sheets of 4/$5s printed and en-
tirely issued prior to March 11, 1925. On December 4, 1928 995
sheets of 4/$5s were received from the Bureaus of Engraving
"f■II47;71',7-,24:41;
ALT/MED
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12,141
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SECL-RED BY UNITED SUMS HOMIS ntrosnienwiu
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MAR 25 1927
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A L'EERED
Page 180 Paper Money Whole No. 179
"Before and after" the alteration of the 1 K L 4/$5 plate and the G-H-I-C 3/$10-20 plate. Notice the 4/$5 plate was origi-
nally proofed and approved on October 8, 1923. The plate was altered by the addition of officer signatures and the removal
of the signature lines. This was approved on Nov 19, 1928. The 3/$10-$20 plate carries similar notations.
2 4441.4“ It t S2.1■, AIAAA1444.44,14,
11,
57'
£1. -4Aligaltaii7lliiiaUtoAVid
ir N 111(70,1141,.‘ I I P.4
Ntilikossaft
WED STATES tIF AMERICA ,„
• Nailitnutininpvenear
UMW MIMS OFAMERICA
1111
SWAIM
,4111401711"4
.4J44.644,LC:410.114AWAMAULI 7 JWAAJWLI
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1 ,11, 1°,
Paper Money Whole No. 179
Page 181
ALLTII.RED
So close! The full G-H-I-C 3/510-520 specimen sheet held in the Smithsonian collection.
Page 182 Paper Money Whole No. 179
Table 3
4/$10-$20 SHEETS, DATES RECEIVED AND ISSUED
BY THE CURRENCY BUREAU
RECEIVED ISSUED
Beginning Ending
Total
Sheet # Sheet # # Sheets
Beginning
Sheet #
Ending
Sheet #
Total
# Sheets
Issue brought forward from 3/3/28
122,694
07/09/28-09/06/28 119,140 121,842 2,703
09/07/28 122,695 124,707 2,013
09/10/28
124,708 127,677 2,970
09/12/28 121,843 122,099 257
09/14/28 127,678 130,679 3,002
09/18/28-10/26/28 122,100 124,477 2,378
10/29/28 SIGNATURES ORDERED FOR PLATES
11/02/28-11/17/28 124,478 125,548 1,071
11/17/28 ALTERED PLATES APPROVED
11/24/28-06/06/29 125,549 128,513 2,965
03/09/29 130,680 131,650 971
03/13/29 131,651 134,655 3,005 128,514 129,262 749
03/28/29 129,263 129,263 1
04/04/29 "Issue suspended acct 5% fund"
04/10/29 "Notice to resume issue"
04/10/29 129,264 129,282 19
05/22/29 LAST ISSUE OF 10/20s 129,283 129,546 264
07/01/29 VOLUNTARY LIQUIDATION
07/19/29
CANCELLATION OF REMAINDERS 129,547 134,655 5,109
and Printing by the Comptroller of the Currency, of which 785
sheets were issued to the bank on December 8th. It was from
this issue that the humble note at the beginning of this article
originated. The last $5s were issued on May 15, 1929 and, when
the bank entered liquidation in July, there were just 138 re-
mainder sheets to be cancelled and destroyed.
By contrast, when the plate alterations were ordered for the
3/$10-$20 plates, over 5,000 of the old sheets remained in the
vaults at the Comptroller's office. The last issue of these "old"
notes occurred on May 22, 1929 and when the bank entered
liquidation in July, there were about 1,100 sheets printed prior
to October 1928-i.e., without signatures-as well as 3,976
sheets printed in March 1929 with engraved signatures. All
were cancelled along with the remaining 4/$5 sheets on July
19, 1929.
Although the addition of signatures coincided with a re-
newed production and issue of $5 notes for the bank, there is
no indication why the bank chose this moment to add signa-
tures to the plates. Few records remain from the bank, and
those officers in the know are now gone so its unlikely we'll
ever know the rationale. Fortunately for St. Louis collectors, a
few of the $5s, along with the Smithsonian sheets, remain to
provide testimony for a unique practice among St. Louis na-
tional banks.
BIBLIOGRAPHY
Bureau of Engraving and Printing. List of plates engraved for national
banks, 1925 to 1933. Suitland Facility of the National Archives,
Washington DC.
Comptroller of the Currency (various dates 1925 to 1929). Bond and
currency ledgers, National Archives, Washington D.C.
Comptroller of the Currency (various dates 1881 to 1935). Annual Re-
port of the Comptroller of the Currency, Washington, D.C.
Comptroller of the Currency (various dates 1899 to 1929). Correspon-
dence, examination and liquidation files, National Archives,
Washington, D.C.
Hickman, J. and D. Oakes. (1990). The standard catalog of national bank
notes, Iola WI.
Hogan (1875). Pictorial St. Louis. St. Louis, MO.
Kargau, E.D. (1902). Mercantile, industrial and professional St. Louis, St.
Louis, MO.
Owens, E. (1948). A history of Mercantile Commerce Bank and Trust Com-
pany 1857-1948, Unpublished Thesis for University of Wisconsin.
Pershall, (1899). The book of St. Louisians, St. Louis MO.
St. Louis Post Dispatch, (1899). Various isues.
Thompson, W (1899). Banks and Banking, The encyclopedia of St. Louis
history, St. Louis, MO.
My thanks to Lynn Vosloh for generously providing the photographs
of the Specimen sheets in the Smithsonian Collection and to Bill
Sherman for making material available to me at the National Archives.
My appreciation is also due to Peter Huntoon for steering me onto the
Suitland Ledger and for helping to organize my thinking about this
very interesting issue.
Paper Money Whole No. 179
Page 183
ELEPHANTS
ON WORLD PAPER MONEY
by MOHAMAD H. HUSSEIN
T
HE elephant is the largest and most powerful land ani-
mal living today. It is the descendant of prehistoric
mammals that roamed the earth millions of years be-
fore homo sapiens appeared on the scene. The elephantidae fa-
mily belongs to the proboscidea (animals with trunks) order
that lived more than fifty million years ago. Living relatives in-
clude the rabbit-like little furry hyraxes, the seal-like dugongs
and the manatees (Freeman 1980). Of the more than 350
different species only two elephant species remain: loxodonta
africana (African elephant) and elephas maximas (Indian or
Asiatic elephant). Depending on the particular species, an
adult elephant is usually 15 to 25 ft (4.6 to 7.6 m) long, stands
7 to 13 ft (2 to 4 m) tall, and weighs 9,000 to 16,000 lbs (4090
to 7300 kg). Estimates of current elephant population range
between 350,000 and 650,000 and declining at an alarming
rate.
African elephants represent more than 90 percent of the total
number of elephants now alive. They live in a large area of
Africa bordered by the Sahara Desert to the north and South
Africa to the south. Asiatic elephants live throughout the In-
dian subcontinent and Southeast Asia (India, Bhutan, Ban-
gladesh, Nepal, Thailand, Malaysia, Laos, Vietnam,
Kampuchia, Sri Lanka, Myanmar and the Yunan province in
China). African elephants are usually larger than the Asiatic
ones and are distinguished by their convex heads, large ears
and slightly hollow backs. Asiatic elephants have domed con-
cave heads and arched backs. The African elephant is also
characterized by the transverse ridges on its trunk. The tip of
the African elephant's trunk ends with two finger like projec-
tions while the Asian ends with one.
Elephants feed on grass, leaves, flowers, fruits and tree barks.
An adult elephant consumes up to 700 lbs (320 kg) of food and
40 gallons (190 liters) of water a day. The elephant cannot
lower its massive head; it uses its trunk to reach for food and
drink. The trunk is very strong and sensitive. It usually extends
ahead of the body but is always curled up out of harm's way in
dangerous situations. An elephant has 24 separate molar teeth
grouped into series of flat transverse plates about one foot (30
cm) long and weighing 8 pounds (3.6 kg) each joined together
to form blocks of enamel and dentine. The great ivory tusks are
the second upper incisor teeth that have developed to enor-
mous proportions. Male elephants' (called bulls) tusks grow to
a length of about 6 feet (1.8 m) and weigh up to 70 pounds (32
kg) each, while those of the females (called cows) are smaller.
Cows of the Asiatic elephant and bulls native to Sri Lanka have
poorly developed tusks, or none at all. The precious ivory tusks
have long been the reason for the massive senseless killing of
elephants. Some countries and dealers are stockpiling ivory
(considered "white gold") as a protection against the time
when elephants become extinct. There is now a strong anti-
poaching movement and national and international organiza-
tions that are dedicated to elephant preservation.
Females usually live in family groups consisting of 12 to 24
members, all related to the elder leader. Around the age of four-
teen, males leave the family and join an all-male group where
they spend most of their time. Herds are made up of a number
of family groups. Elephants make their presence known and
greet each other with a rumble. They communicate by smell,
vision, touch and sound. Trumpeting is used in situations of
danger. With no particular mating season, elephants are born
year round. The mother is pregnant for about two years. The
newly born calf has pinkish skin with scattered brown hair,
stands (within minutes of birth) at about three feet (1 m) and
weighs around 250 pounds (114 kg). Elephants walk, virtually
on tiptoe, at a speed of about three miles per hour (5 km/hr)
and charge at speeds reaching eighteen miles per hour (29
km/hr). Under favorable conditions elephants may live longer
than 60 years.
Elephants have long been used in the service of man. Unlike
other wild animals such as camels and horses, elephants were
tamed but not really domesticated. They have been employed
in agriculture, forestry, hunting, entertainment and warfare. A
healthy adult elephant can pull very heavy weights, lift huge
logs and carry loads of up to 800 pounds (364 kg). Hannibal's
use of elephants in the third century B.C. in the time of war is
legendary. Since ancient Roman times elephants have been
used in circuses displaying acts of strength, gentleness and obe-
dience. Elephants are usually major attractions in zoos and
parks. Inspiring awe, wonderment and majesty, elephants have
been featured in religious ceremonies and even worshiped as
gods in some cultures. Ganesh, the elephant-headed god of in-
telligence, is one of the major Hindu gods.
Symbolizing strength, intelligence, grace, sensitivity and
many other admirable attributes, images of elephants are often
used on national symbols of many nations. Many paper
money issuing authorities depict elephants on their notes.
Other animals such as dogs and horses are also depicted on
paper money all over the world (Jordan 1982, Hessler 1984).
The accompanying figures show paper money notes from
some countries featuring elephants in various situations.
Countries showing elephants on their paper money are located
mostly in Africa or Asia, places where elephants can still be
found today. The table included in this article provides a list of
notes depicting elephants. All notes listed can be found in the
Standard Catalog of World Paper Money (Pick 1994).
Over a century ago, there were more than ten million
elephants (and only 16 million people) living in Africa; less
than three quarters of a million elephants are alive today all
over the world (Bright 1989). The future of the elephant looks
bleak. Major factors contributing to their near extinction are
ivory poaching and destruction of living space. It is hoped that
depicting elephants on paper money raises awareness and
causes concern about the desperate and critical condition of
this endangered specie.
-.4111101Mr.
ANMTA)EnrA-T,Si41enwm6sw-
DEZt7/4QJWICSNIETAE-1-FRIG
41-
LES AUTEURS OU COMPLICES DE FALSIFICATION OU DE
CONTREFAOON DE BILLETS DE BANQUE SERONT PUNTS
CONFORMEMENT AUX LOIS ET ACTES EN VIGUEUR.
Page 184 Paper Money Whole No. 179
Paper Money Whole No. 179
Page 185
President
Governor
IfINH TOT PRAT Kfld• SAI 1011016 K NO siA MAO
BM1Y BAC OD NITOTIABG OUBC-GIAViBT.NAM PRAT RA
WORLD PAPER MONEY
Specialized in Poland, Russia 6 E.Europe
IL uy &
Free Price List
Tom Sluszkiewiez
P.O.Box 54521, 7398 Edmonds St.
BURNABY B.C. CANADA V3N 1A8
Page 186
Paper Money Whole No. 179
Country Denomination Date Description, Pick #
Angola 100 Escudos 15.8.1956 Elephant herd at waterhole on back, P.89
Belgian Congo 20 Francs
500 Francs
10.9.1940
ND
Working elephants on back, P.15
Elephants bathing on back, P.18
Cameroon Republic 1000 Francs 1.1.1985 Large elephant on back, P.18
Ethiopia 100 Thalers 1.5.1932 Elephant on front, P.10
French Indo-China 1000 Piastres
10 Cents
ND (1951)
ND
Decorated elephant on front, P.84
Market scene with elephants, P.85
India 100 Rupees ND Two elephants on back, P.41
Indonesia 1000 Rupiah ND (1957) Elephant on front, P.53
Laos 5 Kip
1000 Kip
5 kip
ND (1962)
ND
ND (1979)
Man riding elephant near temple, P.9
Elephant in jungle on back, P.18
Logging elephants on back, P.26
Mozambique 100 Meticas 25.6.1976 Herd of elephants on back, P.124
Myanmar 10 Rupees ND (1949) Elephant lifting log on back, P.36
Nepal 1000 Rupees ND (1981) Large elephant on back, P.36
Portuguese India 50 Rupias 1.1.1924 Elephant trumpeting on front, P.28
Sri Lanka 1000 Rupees 1.1.1991 Elephant with trainer on front, P.88
South Africa 20 Rand ND (1993) Four elephants on back, P.124
Sudan 5 Pounds 1970-80 Elephant and other animals on back, P.14
Tanzania 1000 Shilingi ND (1990) Elephant and calf on front, P.20
Thailand 20 Baht ND (1981) Armed men riding elephant on back, P.88
Uganda 5 Shillings
500 Shillings
1987
1991
Elephant and animals at waterhole, P.27
Large elephant on front, P.33
Vietnam 1000 Dong
1000 Dong
ND (1972)
1988
Elephants carrying men and loads, P.34
Elephant logging on back, P.95
Zaire 1 Zaire 1972-77 Elephant tusks on back, P.18
Zimbabwe 20 Dollars 1980-83 Elephant and Victoria falls on back, P.4
Literature Cited:
Bright, M. (1989). Elephants. New York: Gloucester Press.
Freeman, D. (1980). Elephants, the vanishing giants. New York: W.H.
Smith Publishers, Inc.
Hessler, G. (1984). Trial list-horses on world paper money. Interna-
tional Bank Note Society Journal, Volume 23 No. 1.
Jordan, V.J. (1982). Dogs on banknotes. International Bank Note Society
Journal, Volume 21 No. 3.
Pick, A. (1994). Standard catalog of world paper money, Volume 2, seventh
edition. Iola, Wisconsin: Krause Publications, Inc.
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
ER HoSPITAL
1 0 !'■,11,0 1 1 ,. ' 111110;.1 1 t: .11
The Cooper Shop
Volunteer Refreshment Saloon
in Philadelphia(The First uscr,
by JIM WATSON
Paper Money Whole No. 179 Page 187
0 N May 1, 1861 Union troops en route to Washington,DC landed in Philadelphia at the foot of WashingtonAvenue on the Delaware River. The troops then
boarded cars of the Philadelphia, Wilmington and Baltimore
Railroad Company to continue their journey to put down the
Confederate rebellion that had commenced with the attack on
Fort Sumter, South Carolina.
Mrs. William M. Cooper, a resident of Philadelphia, felt that
the ladies of her neighborhood should organize a committee
to furnish the soldiers with coffee during their brief stopover at
the wharf area. She enlisted the help of Mrs. Grace Nickles, Mrs.
Sarah Ewing, Mrs. Elizabeth Vansdale, Miss Catherine Vans-
dale, Mrs. Jane Coward, Mrs. Susan Turner, Mrs. Sarah Mellen,
Miss Catherine Alexander, Mrs. Mary Plout, and Mrs. Captain
Watson. They formed the nucleus of the Cooper Shop Volun-
teer Refreshment Committee.
Mrs. Cooper's husband, William M. Cooper, was not only a
"Cooper" by name. He was in business as an "Oakcooper," with
locations at 135 South Water Street and 1009 Otsego Street. It
was from this latter location that the soldiers were served. They
could relax under the shade trees in front of Mr. Cooper's shop
while they enjoyed their refreshments. Mr. Cooper eventually
allowed the Committee to take over his shop, and he became
the President of the Volunteer Refreshment Committee.
On the 25th of May Mrs. Cooper received a telegram that the
"German Rifles," under the command of Col. Louis Blenker,
would arrive that night or the following day. Acting on short
notice, she arranged for tables to be ready for a coffee breakfast
for the entire regiment, some 1040 men. The "German Rifles"
arrived at the dock at 3 a.m. on Monday, May 27th, and were
fed a substantial breakfast.
The "German Rifles" that arrived were the First German Rifle
Regiment, part of the 8th New York Volunteer Infantry Brigade.
They were to see a lot of hard campaigning and fighting, in-
cluding the battles of first and second Bull Run (Manassas),
Fredericksburg, and the "Mud March!' One hundred and forty-
three of the regiment's men would die during the War; ninety-
three were killed in battle, and one officer and forty-two en-
listed men died of disease.
Louis Blenker was born in Worms, Germany, about 1815. He
had led troops during the German Rebellion of 1848, and came
to the United States in 1849. As an early organizer of German
Page 188 Paper Money Whole No. 179
General Louis Blenker
immigrants, he was elected Colonel of the First German Rifle
Regiment. During the first battle of Bull Run in July 1861 he as-
sumed temporary command of the 8th New York. The unit suc-
cessfully repulsed a Confederate attack during a rear guard
action. After the battle, he was promoted to the rank of Briga-
dier General. In October 1861 he organized several German
regiments into what was known as "Blenker's Division!' The di-
vision was assigned to General John C. Fremont's Mountain
Department. During his service in that area, Blenker was seri-
ously injured in a fall from his horse. He received a medical dis-
charge in March 1863, and retired to his farm in Rockland City,
New York. He died on October 31, 1863 as a result of the inju-
ries he sustained in the fall.
Blenker's "German Rifles" was the first regiment to be fed at
the Cooper Shop. The troop arrivals kept increasing, and it be-
came apparent to the Committee that the Cooper Shop could
not handle all of them.
Consequently, another group started an operation similar to
the Cooper Shop in the same vicinity, and named it the "Union
Saloon!' The two saloons agreed to divide the officers and en-
listed men evenly, and to alternate days of service in which to
receive all units of 200 or less in a 24-hour period, thus giving
each saloon a respite every other day.
Due to the needs of the troops, the Cooper Shop was ex-
panded to include treatment for sick and wounded soldiers.
They started with 12 beds and grew into a 28-bed hospital. Dr.
Andrew Nebinger was the resident surgeon, and eventually 549
men were treated under his supervision.
Thirteen patients died at the hospital, so the Committee ac-
quired a burial plot at Mt. Moriah Cemetery and erected a
wrought-iron fence around the plot.
The services of the Cooper Shop were expanded to include
bathing facilities with hot and cold water, and a committee was
formed to provide men going on furlough with adequate or
suitable clothing.
,Icc,c3,03 VOLUNTEER Rtf-,Q,
"c4A,
SALOON',
No. 1009 OTSEGO STREET.
AM/.
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eeite4 ern/ 510ae;Iteym, e,/,/y/ 2/ lie at4e ,Tni/ekhent.
WM. M. COOPER, PrePident,
406 South Front Street.
C. V. FORT, Vice President,
122 Queen Street.
A. M. SIMPSON, Treasurer,
9 Queen Street.
WM. M. 24AULE.,, Secretary,
323 Catharine Street.
Form letter
TAR 17
AS.
FIFTLETII REM m ENT
u55uclivicttli Ali Ell i n,
COOPER SHOP V01.1' NTHI: IIEFUSH)1[NT S LOON.
P II 11, A D E I, P II IA,,
NEW YEAR'S DAY, 1863.
The Jefferson Cornet Band will escort the Regiment to the Saloon
13 I X. X, 0 A 11.
ROAST.
Chick•n-. Parks
....
Lamb
- —
BOILED.
Turkey Corned Beer. II lin
Chickens. lielcry. Cranberry Sallee
ENTREES.
.per. fried
VEGETABLES.
Baked relate., Sweet Pio:ilia, Bailed Beana
nailed " Baked
—
PASTRY. DESSERT.
Minre l'ie. Cranberry Tails.
Apple " Apple
Pumpkin Pie.
Pound Cake. Cake. irled ('a k
ICE CREAM.
Pine Apple.
Strasobi•rry
Apple, Cheese and Cracker , .
Menu
No. pig r
/2 lq
Dollars, and this shall be your receipt.
• niF.SIDENT.
•
Secretary.
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Please pny to the order of
. . '
To 111st. A. M. St hi PsoN,
Tf WU. of Cooper Shop Vol. Rd. Saloon.
IA
A
Paper Money Whole No. 179 Page 189
Since the entire operation was supported by donations,
"form" letters seeking funds and supplies were sent out in large
numbers. An example of this letter is illustrated with this
article.
New Years' Day 1863 witnessed a special dinner fed to the
Fiftieth Regiment of the Massachusetts Militia at the Cooper
Shop Volunteer Refreshment Saloon. An illustration of the
menu is included with this article; the meal was undoubtedly
one of the best the soldiers would receive during the entire
war!
During the four years of the Civil War, 316,993 meals were
served to the troops, at an average cost of 18 cents per meal. In
addition, an estimated 10,000 meals were served to single
soldiers and small groups.
Cash donations to the Cooper Shop Volunteer Refreshment
Saloon were used to pay for the food and other goods needed
to provide for the troops. Receipts were printed and given to
the businesses which provided these items. The receipts are
quite attractive; they were printed in red ink on white paper,
and depict the 34-star flag of the United States in full color.
"Cooper Shop Volunteer Refreshment Saloon" is overprinted
on the flag.
Red Cross, Salvation Army, various religious groups, and the
United Services Organization (USO).
Two members of the Cooper Shop Volunteer Refreshment
Saloon Committee may be of interest (and perhaps further re-
search) to numismatists: Ex-Governor of Pennsylvania J. Pol-
lock listed his address as the United States Mint; E.S. Hall was
the President of the Seventh National Bank of Philadelphia,
and undoubtedly signed national currency issues from that
bank.
SOURCES
Annual financial statements of the Cooper Shop Volunteer Refresh-
ment Saloon, 1862-1865.
Dyer, F.H. A compendium of the war of the rebellion.
Official army register of the volunteer force of the United States Army (Part
II). Adjutant General's office, Washington, DC. August 31, 1865.
McElroy, A. McElroy's Philadelphia City Directory, 1861.
ACKNOWLEDGMENTS
Thanks to Martha Pilling of the Pennsylvania Historical Society; Con-
stance Williams of The Civil War Library Museum of the Loyal Legion;
and Bob O'Connor of the Pennsylvania Genealogical Society.
The receipt illustrated is made out to one "Fred Hures," but
no information has surfaced as to his identity. He was probably
a craftsman or tradesman being compensated for goods or
services he provided to the Saloon. The receipt was taken to the
Committee Treasurer, A.W. Simpson, to be exchanged for
monies owed. The treasurer then kept the vouchers to docu-
ment the Committee's expenses.
The success of the "Cooper Shop" was the catalyst which
caused other cities to open similar establishments. The
"Cooper Shop" was the first service organization to become
well-known in the United States.
Many later organizations performed (and still do) similar
valuable services in later wars involving U.S. troops, such as the
This article proves that even the simplest paper document can chal-
lenge and reward the curious collector. A somewhat unusual piece of
paper provides the mystery; some "educated guesses" leads the
researcher to several possible sources of explanation, then facts and
images. The result is a fascinating story—we learn of the efforts of
volunteers working "behind the scenes" to comfort young men on their
way to battle. We meet and learn about a German immigrant who rose
to the occasion in the fire of battle, who gave his life in the military
service of his adopted homeland.
Curious collectors of paper money and financial documents are
offered this same opportunity by every single piece they hold in their
hands. We can only hope that others will accept the challenge as Mr.
Watson has, and share their findings with the rest of us. Bob Cochran]
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Page 190 Paper Money Whole No. 179
The
Starts Here
A Primer for Collectors
by GENE HESSLER
I
N the last issue of PAPER MONEY some military payment
certificates (MPC) were described. Some of these design
features, both primary and secondary, were used on pre-
viously-issued U.S. paper money. If something works the first
time, use it again.
On the $2 silver certificate issued in 1896 there are five en-
graved figures—Science Presenting Steam and Electricity to Industry
and Commerce. The head of the figure on the left, which
represents Commerce, was borrowed and used on the $10
MPC, Series 641 and Series 651.
The image of Pablo, the bull bison, or buffalo, used on the
1901 $10 United States note made a second appearance on the
$1, Series 692. This $1 certificate, in uncirculated condition, can
be purchased for under $25. The extremely popular $10
"buffalo bill" with which it could be matched, is relatively ex-
pensive in any condition. However, the same face design, made
from the original plate, adorns a souvenir card that was issued
by the Bureau of Engraving and Printing (BEP) in 1980. This
lovely card can be purchased for $15, probably less, from sou-
venir card and paper money dealers.
The border on the back design of the $1 MPC, Series 641 was
borrowed from two different U.S. notes one large- and one
small-size. The face and back borders on the last large-size $1
United States note, Series 1923 were merely reduced and used
on the first small-size $1 note, Series 1928. Some of us don't ac-
cept change easily. On August 31, 1965 when MPC Series 641
was issued for use by American forces in South Vietnam the
back of the $1 certificate had a familiar design.
The $1 note, Series 1928 in very fine condition should cost
about $20. The $1 MPC, Series 641 in uncirculated condition is
about $15. So, the pair, if you will settle for conditions less than
perfect, will cost about $25.
Both the face and back border designs on the $5 MPC, also
Series 641 were borrowed from the $5 silver certificate, Series
1899. The original note with the portrait of Chief Running Ante-
lope is one of the most popular notes among collectors of U.S.
paper money, and, consequently, is expensive. The MPC with
the matching border designs is also expensive in the best state
of preservation, over $100 in uncirculated condition. However,
$25 will pay for one in very fine condition. And, once again, a
BEP souvenir card comes to the rescue. This card with the en-
graved imprint of the face of the $5, Series of 1899 note is avail-
able for $5, perhaps less. Even if you don't care to match the
borders on these two notes, the souvenir card with the Indian
portrait is a real bargain at $5.
Although not used on paper money, the image of the Minute
Man, based on the statue of Daniel Chester French, was previ-
ously used on the 1941 U.S. Defense Postal Savings stamps.
This figure is imprinted in the minds of those of us who pur-
chased savings stamps, in order to purchase World War II
Savings Bonds when the appropriate amount was reached. The
Minute Man was placed on the $1 MPC, Series 651. The cost of
this MPC ranges from $2 in very fine to $20 in uncirculated
condition.
Take a look at Military Payment Certificates by Fred Schwan,
the specialist on this subject. There you will discover more
about these colorful historic notes.
(Copyright story reprinted by permission from Coin World, March 28,
1994.)
Paper Money Whole No. 179
Page 191
The Seal ge City of
NEW YORK
by STEPHEN M. GOLDBERG
On June 24, 1915, on the 250th anniversary of the crea-
tion of its current municipal government, the City of
New York adopted the corporate seal shown in Figure 1.
It is the latest version of an earlier seal granted to the city
in 1669, no definitive impression of which is extant, and
updated in 1686 and 1784. This article will discuss the
history and symbolism of the official seals, illustrating
how the English version has been used both formally on
the government issues of the Province and State of New
York and artistically, and with considerable license, on
bank notes of the city itself. An additional example will
be given of its use on a merchant's issue from the neigh-
boring city of Brooklyn.
T
HE first seal ever used in what was to become New York
City was the seal of the Province of New Netherlands,
the Dutch colony initiated in 1621 when settlers under
the Dutch West India Company descended onto the site of
present day Albany. The Manhattan settlement of New Am-
sterdam began when Director-General Peter Minuit arrived on
May 4, 1626 and "bought" Manhattan Island for trade goods
worth sixty guilders, traditionally equated to twenty-four
dollars. Whether the American Indians understood the transac-
tion as a purchase in the European sense is questionable. They
may have believed only that they were receiving gifts in ex-
change for allowing the land to be shared. To put the purchase
in perspective, two ships returning to Holland in 1624 carried
the skins of 4000 beaver and 700 otter, which sold for between
twenty-five and twenty-seven thousand guilders. In 1628, the
population of New Amsterdam was recorded as 270, slightly
more than the number of persons living in the single Bronx
building I left 359 years later. Either there were no Indians
living in the settlement or they didn't count and weren't
counted.
According to the Charter of Freedoms and Exemptions of
June 7, 1629, the Dutch West India Company had complete
jurisdiction over Manhattan: the Director-General and Council
made and administered the laws with the consent of the
Directors at Amsterdam and you and I had nothing to say
about it. In 1649, a remonstrance sent to the States General of
the Netherlands, setting forth the colonists' grievances, led to
the creation, on February 2, 1653, of the first municipal govern-
ment, consisting of a schout, a sort of sheriff and prosecutor,
and a "bench of justice" with two burgomasters and five schepens,
loosely judges and jurists. For the first time New Amsterdam
had a government distinct from that of New Netherlands.
Fig. 1: The current Seal of the City of New York, as adopted in 1915.
On March 22, 1664, by our current calendar, King Charles II
granted to his brother James, Duke of York, parts of Maine and
Massachusetts, Long Island, and all the land from the Connect-
icut River to Delaware Bay. On September 8, 1664, with no re-
sistance, Director-General Peter Stuyvesant surrendered New
Netherlands to Colonel Richard Nicolls and both the province
and the Manhattan settlement were renamed New York.
Governor Nicolls ultimately disestablished the Dutch-formed
city government and on June 24, 1665, created the present one
with Thomas Willett as the city's first mayor. As a child growing
up in Flushing, I remember being taught that Stuyvesant was
the last Dutch governor but it isn't so: the Dutch reacquired the
colony on August 9, 1673, renamed the city New Orange after
their own William of Orange, and it was Governor Anthony
Colve who gave it up for good on the 10th of November, 1674.
Stuyvesant left for Holland but eventually returned to his
Bowery estate where he died in February 1672. He is buried in
the graveyard of St. Mark's Church at East 13th Street and St.
Mark's Place in the East Village section of Manhattan, pretty
much forgotten. William of Orange eventually ended up with
the whole province anyway when he left the Netherlands to be-
come King of England in 1688. Politics must have been con-
fusing in the seventeenth century, without the clarity we have
today.
Page 192 Paper Money Whole No. 179
Fig. 2: The Seal of the Province of New Netherlands.
The New Netherlands seal, then, used on official documents
of New Amsterdam for a short period before 1654, is shown in
Figure 2. A beaver is displayed diagonally and is surrounded by
what might be a wampum string. The crest is a count's coronet
implying that the province was equivalent to a county, and the
whole is surrounded by a wreath. The inscription reads
"Sigillum Novi Belgii'=seal of New Belgium—and how one gets
from "New Belgium" to "New Netherlands" is not for me to say,
but it was a time when the Belgian and Dutch Netherlands
were united in the United Netherlands. United I suspect in the
sense that the states were united in the United States at the time
of Fort Sumter. The beaver, of course, represents the commer-
cial purpose of the colonization, the trade in fur and skins. It
is believed that the appearance of the animal on the seal is the
first instance of its use in heraldry and that the next two ex-
amples are the last.
In response to a request of the burgomasters and schepens, the
Directors of the Dutch West India Company wrote to Governor
Stuyvesant on May 18, 1654:
Fig. 3: The Seal of the City of New Amsterdam.
'e have decreed that a seal for the City of New Amsterdam
shall be prepared and forwarded" This seal is shown in Figure
3. Its shield displays a central vertical band upon which a ver-
tical row of three saltire crosses is arranged. To left and right are
additional bands, and a beaver provides the crest. Above the
shield is a mantle with an escutcheon that bears the monogram
G.W.C., the Dutch initials for "Chartered West India Company",
and the motto reads "Sigillum Amstelodamensis in Novo
BelgioL-seal of Amsterdam in New Belgium. The whole is again
surrounded by a wreath. The saltire crosses are found on the
seal of, and represent, the city of Amsterdam in Holland, and
the beaver, this time, represents New Netherlands. The mantle's
colors are purported to be orange, white, and indigo blue from
the top down, as flown by ships of the United Netherlands of
the period.
The New Amsterdam seal ceased to be used at the time of the
English acquisition except perhaps during the interregnum of
Governor Colve since no seal for New Orange is known to have
been created. In 1669, new seals were delivered for both the
Province and City of New York. The provincial seal does not
appear to ever have been used by the city government. It con-
sists of the shield of the House of Stuart surrounded by the
Order of the Garter. It is the city seal which would have been
the first of interest to paper money collectors except that no im-
pression remains. The fire at the State Library at Albany in
1911—one source gives 1912—which is known to have destroyed
a major collection of colonial-era small change notes seems
also to have destroyed all examples of the 1669 city seal,
reducing the wax to shapeless blobs on those early English
colonial documents that otherwise survived, leaving no im-
print. I've made no attempt to determine whether any
specimens have turned up since 1915, the date of my principal
reference, "Seal and Flag of the City of New York:' New York
being New York, any inquiry to the city about a missing seal
would likely have gotten me nothing but a referral to one of the
zoos. It has been speculated that the 1669 city seal resembled
the seal of 1686 which is discussed next.
Fig. 4: The New York City Seal, 1686, with ducal coronet.
On April 27, 1686, a charter granted by Governor Thomas
Dongan included a provision—in the English of the period—
that the "Mayor Aldermen and Comonalty of the said Citty of
New Yorke and their Successo's shall and may for ever hereafter
have one Comon Seale The new seal was approved on July 24,
1686, and its earliest known impression, shown in Figure 4, is
found on a realty grant of September 1, 1687. The description
of this seal in "Seal and Flag" is unimprovable and I can do no
better than quote it:
"It is oval in shape . . . In the center is a shield charged saltire-
wise with the sails of a windmill. Between the sails in chief . .
[and] in base [is] a beaver; and between the sails on each flank
a flour barrel. The dexter supporter is a sailor, resting his left
hand upon the shield. His right hand holds a cross-staff . . .
r a LAW Of the CoLoNT of
net130 ' ti pogt,
this BILL ma WI, {hall pafs
current for %O N POUNDS,
Arrw.fri, tho o4 April 1736.
4 z.
uff.wrll to counterfeit Ibis Bill.
eZ5r45,Vr417,Znill7c:04:ATFPW4IV ,t7i1VV•q7:PcIltgMgn$
Fig. 7: A ten pound note of the Province of New York, April 20, 1756, by
James Parker, shown by courtesy of Currency Auctions of America
Paper Money Whole No. 179 Page 193
[and] a lead-line. The sinister supporter is an Indian, wearing a
head dress of many feathers, his right hand resting upon the
shield, his left holding by the middle a one-piece bow . . . The
supporters stand upon a horizontal branch . . . beneath which
is the date 1686. The crest is a ducal coronet. Upon a ribbon ..
is the legend: 'Sigil: Civitat: Novi: EboracC=Seal of the City of
New York.
The windmill was not necessarily a symbol of Holland since
the device was common in both England and New York. It
symbolized the mechanical power available, although the first
known mill in the city was a horse mill built in 1626. The flour
barrels honored two important city industries: bolting—this
was the sifting of the flour into different size particles for which
the city was granted a monopoly—and the production of the
barrels or staves themselves. The sailor's lead-line was used for
measuring water depth and the cross-stafffor measuring lati-
tude. The ducal coronet was erroneous, as the Duke of York had
become King James II in 1685; at some unknown later date the
coronet was replaced by a royal crown. It is the revised version
of the seal that was used on the government notes of the Prov-
ince and State of New York from at least 1717 until just after the
Declaration of Independence. It is illustrated in Figure 5 and is
taken from a mayor's warrant of 1711.
Fig. 5: The New York City Seal, 1686, with imperial crown.
A small, round seal with ducal coronet and having the legal
status of common seal existed simultaneously with the larger
oval version and is known, from a certificate of allegiance, to
have been used at least as early as September 9, 1687. There is
no record of the creation of, or grant of, any other seal between
1669 and 1687. Its design is similar to that of the shield of the
1686 seal and it has no supporters or legend. Both seals were
officially recognized: in 1691, the Common Council estab-
lished that the mayor's fees for affixing seals would be six
shillings for every "great Seale" and three for a "small Seale" The
smaller version's lack of a date has led to speculation that it is
the seal of 1669, but there is no proof of the conjecture. It
would have been very odd for a seal to have been created,
brought over, granted, or assigned without any place name or
motto. Its origin is unknown. A bit of private enterprise on the
part of the mayor and council is not absolutely out of the
question.
The seal of 1686 was not officially modified until 1784 when
the eagle and hemisphere device from the state seal of 1778 was
placed at the crest of the shield, substituted for the imperial
Fig. 6: The New York City Seal, 1784, with eagle and hemisphere.
crown. The 1784 seal is shown in Figure 6. The document upon
which it is impressed is not identified in my reference. Except
for the crest, it's basically the same as the earlier one, but the
style is very different and the shield seems to correspond more
closely to the design that was used on the state issues of 1771
to 1776. It was never used on any later notes of New York
State—the issues of 1786 and 1788 use the state seal—but it was
used informally on various city issues of the nineteenth cen-
tury, strictly as a design, and it was also used in Brooklyn.
The seal of 1686 was the principal feature of the colonial and
state government issues from at least 1717 through 1776 and
was obviously used to put the stamp of authority on the notes.
The seal itself is rendered in two distinct styles. From the early
issues to that of 1760, the seal resembles the primitive appear-
ance of the official version and any differences over time may
be attributed to a small degree of individualism on the part of
the engraver, although one gets the impression that a serious
attempt at copying was being undertaken. The first style may be
seen in Figure 7, a f10 note of April 20, 1756, printed by James
Parker. Both the sailor and Indian are shown bow-legged and
bare-footed and their facial features are expressed by points.
The cross-staff is not held. The Indian is bare-chested and wears
a stripe of paint from neck to waist, and his bow is double-
curved or compound, a type never used by eastern Algonquins.
One might describe the style as "folk art" today.
WO: *1-1 I
.Li'i
I . NG.
PYR.tt)Trit4YffisiC"t'
MINA Z,SPt
0
ONE THIRD of a DOLLAR. No.
T HI S B I L L pats cur-rent in all PAYMENTi in this
Colony, for TWO SHILLINGS ,
and EIGHT PENCE, (being equal 1
to One Vied of a SpaniIh Milled
Dollar) or the Value thereof in
Gald or Silver ; according to the
Refolution of the Provincial Con- -
grefs of New-York, on the fifth
Day of March, 1776.
2J8 ;
2 s. 8 d.
&: :6 . t1S":610 6016.V.Cri tr,
0 OQTJ1.--All 7/12) 2.64011111'6
( /i////
Le_ //,'(/////.../ , /zit ./ /hit/ .
/11111T-TORYK / /.1':32. 044
le,G7/3t
t.
e''// e7.C.///////1
Page 194
Paper Money Whole No. 179
Fig. 8: A one-third dollar of the Province of New York, March 5, 1776, by
Samuel Loudon.
After a lapse of ten years, the province began to issue notes
again and now one finds the second style. The basic details of
the official design are clearly in evidence but they are begin-
ning to show a bit of free-form relative to the formalism of
1686. In Figure 8, a $1/2 bill of March 5, 1776, printed by Samuel
Loudon, the supporters' facial features are more realistic and
their stance is more natural. They appear to have acquired foot-
wear. The cross-staffis gone, the bow is now single, and the In-
dian wears a quiver. His skin is drawn darker, in contrast to that
of his companion. The seal's overall contour is round, not
ovular, but its shape actually varies with the denomination in
the issue. There is no longer a cartoonish quality to the design.
The difference in the details of the variant used from 1771 to
1776 suggests less of artistic license and more that the seal itself
had undergone some alterations. Although there are no ex-
isting records of any official change before 1784, it is difficult to
picture that the object that was continually in use embossing
official documents never wore out and was never replaced at
any point from 1686 to 1771. I'd venture a guess that the
metallic die was changed from time to time and what one sees
on the notes after 1770 is the seal as it truly was in 1771 as the
result of a gradual accumulation of small changes after 1760,
and Loudon, like Parker before him, copied rather than did-
dled with the design.
Such is not the case for the nineteenth century when the state
no longer issued notes. Although the seal in the sense of an im-
pression from a die was theoretically standardized for a given
period of use, the details of its design were not and it appears
with considerable variation whenever it was used other than by
embossment, even on official correspondance, so it's no sur-
prise that its renderings on nineteenth century issues,
government-authorized or otherwise, display considerable
freedom of expression. I'll show four examples from my own
collection of the free-wheeling use of the seal, with the attribu-
tions left to the figure captions, but I can only point out some
obvious features. Those desiring a scholarly discussion will
have to consult their local art critic.
Fig. 9: City Trust and Banking Company, $2 post note, December 21, 1839, by Rawdon, Wright and Hatch.
Fig. 10: New York County Bank, $2, June 4, 1858, with imprints of Baldwin, Bald and Cousland, and Bald, Cousland and
Company.
)
ixto
// / 7 '131/"01114.
..1,77.1.713. 1- ST.
IL -LEFFERTS laelfINGE OEFICZ
, (/ ///////f/ // i/w/ ..41tra- /1%.')
J 7'1/, / /// / I / I // I ;It:
Paper Money Whole No. 179 Page 195
Fig. 11: Park Bank, $1, July 4, 1862, by Rawdon, Wright, Hatch and Edson, printed by the American Bank Note Company.
Fig. 12: Brooklyn, R. Lefferts Exchange Office, 121/2 cents, February 20, 1851, by Danforth, Bald and Company.
Aside from all four designs showing the sailor to the right of
the shield, about the only other thing they have in common is
that they have nothing else in common. In the example of
Figure 9, both the Indian and sailor are seated, the latter
outfitted as a businessman, his instruments now a sextant and
anchor. The Indian is half-naked and the eagle appears aggres-
sive. In the seal in Figure 10, the sailor is garbed like one and
the Indian is clothed. Both individuals are again seated and the
eagle is spread-winged. My personal favorite is the arrange-
ment shown in Figure 11 because it's an extreme example of ar-
tistic license: the sailor stands without his implements and
supports the shield alone; his companion has strolled off to
watch the fountain. The latter has been drawn with a headdress
more elaborate than usual, and the eagle is nowhere to be seen.
To complete the design, the artist has added more barrels to the
scene, placing them to the rear. The last example, seen in Figure
12, comes from Brooklyn and is a surprising use of the seal on
a note issued outside the city. The Indian is seated with a deer-
skin behind and holding a rifle this time, while the sailor is
standing with some bales behind and holding a flag. The eagle
has returned and brought his hemisphere with him, and the
engraver has added a dugout at left and a tall ship at right.
There are probably as many versions of the seal on nine-
teenth century city notes as there were issuers who wanted one
for a design and engravers who could create one on demand,
which brings us back to Figure 1, the current corporate seal,
prepared to do away with all these variations. Except for the
crest, which comes from the seal of 1784, the basic layout of
1686 has been retained. From "Seal and Flag": "The costume
and head-dress of the Indian conform to early descriptions and
drawings of the tribe of the Manhattans, a branch of the Mo-
hicans, living on Manhattan Island," and the sailor is dressed in
period English costume with his cross-staff and lead-or plumb-
line back in his right hand. It was decided that the meaningless
1686 be replaced, and the corporate seal now bears the date
when the city was first named New York, 1664. And in all my
years there, I don't think I ever looked at it once.
REFERENCE
John B. Pine, editor, "Seal and Flag of the City of New York, 1665-1915"
1915; the first six figures have been taken from here.
Page 196
Paper Money Whole No. 179
The Little-Known First ANS Paper Money Exhibition
and
The ANS' First Meeting Devoted Exclusively to Paper Money
by KEN LOWE
(From Out On A Limb, The Journal of The Money Tree. Vol. III, No. 1, June 1994. Reprinted
through the courtesy of the author and The Money Tree.)
R
ECENTLY I obtained a small group of older U.S.
numismatic periodicals. Included was a copy of The
Philatelic West and Collector's World, September 14, 1914,
Volume 63, No. 2. Remy Bourne had mentioned to me long ago
that many philatelic periodicals contained significant articles
about numismatic subjects and that this periodical was one of
the more noteworthy. According to this issue of The Philatelic
West and Collector's World (The West) this magazine was estab-
lished in 1895 as Redfield's Stamp Weekly and in time absorbed
many other magazines.
In perusing this issue, I found that A.A. Leve, Syracuse
numismatic dealer, wrote the featured numismatic article
"United States Paper Money at The Great New York Exhibition,
1914!'
The American Numismatic Society (ANS) held an historic
exhibition of United States and Colonial coins from January 17
to February 18, 1914. The ANS published a superb catalogue of
the exhibition. This catalogue has become quite a valuable
reference work.
Then, only one month later, there was an ANS exhibition of
paper money. The only coverage given to this exhibition in The
Numismatist were the mentions given in the summary of the
ANS meetings in the April (p. 220), May (p. 280), and June
(p. 327) issues of 1914. The ANS report in the April issue
devoted one paragraph to it. The report in the May issue gave
it half a page leading with "The American Numismatic Society
has again showed its progressive [part?] in the Numismatic
field in opening the first paper money exhibit held in this
country!' The June issue contains a brief paragraph noting that
the exhibition had closed. In Howard Adelson's American
Numismatic Society 1858 to 1958, only seven lines are devoted
to it.
One month later still another exposition was held relating to
paper money. The exhibition was to last from March 26 to May
15, 1914. On this occasion there was no attempt made to pre-
pare a catalogue, but once again the individual exhibitors were
presented with bronze copies of the Huntington medal. The
widely scattered notices in the press which continued to appear
even after the exhibition had closed may be taken as a measure
of its success.
It is significant that even though an examination of those
press reports shows that the entire program enjoyed great
success, there was a gradual decline in the time devoted to this
subject by the Council and the general membership (p. 170).
[This paragraph was inserted for ease of reading. The text actu-
ally continued the same paragraph listed above.]
Endote number 72, (p. 327) noted above, listed 12 news-
papers which carried accounts of the exhibition. The 13th
listing in the endnote is an error pertinent to our narrative.
Adelson cited The Philadelphia West, LXIII, No. 2 (August 31,
1914). This correct citation should have been The Philatelic
West, LXIII, No. 2, (August 31, 1914)—this entry.
So, here is Leve's account from The West, pp. 54-55, with
grammatical and syntax changes. Some of the awkward word-
ing is unclear to the editor.
"UNITED STATES PAPER MONEY AT THE
GREAT NEW YORK EXHIBITION, 1914"
The first paper money exhibition under the auspices of the
American Numismatic Society held in its magnificent $50,000
fire-proof building at 156th Street and Broadway in New York
City was brought to a successful ending on May 15th, and pro-
nounced by the capable men in charge as well as all who at-
tended the exhibition as one of the most interesting and
instructive exhibits ever staged by the Society. This exhibition
was not a contest. It was merely a great showing of U.S. and
New York State paper money, loaned by members and was the
first of its kind held.
Nearly all the N.Y. notes were, of course, either broken bank
bills or other early currency of the state, long since uncurrent.
Among these was an 1860 $5 bill on the Chemical Bank, N.Y.
City, still exchangeable, and a rare note, the property of Mr.
Charles G. Dodd.
In the exhibition there were 700 state notes and 500 U.S.
bills, 175 pieces of fractional currency, 40 specimens besides,
envelopes, colonial notes, etc.
Members of the society who participated in the exhibition
were: F.C.C. Boyd, Wm. P. Brown, Henry R. Drowne, A.A. Leve,
David Proskey, Elmer S. Sears, Elliott Smith, Dr. D.W. Valentine,
George H. Blake, Charles G. Dodd.
Also shown were complete sets of the U.S. fractional cur-
rency, including full sheets of some varieties, proofs,
specimens, etc.
There were many unique U.S. federal notes. Some rare errors,
inverted faces, interest-bearing notes, the rare 7.30% $50 note,
varieties, rare low serial numbers, etc. One collector showed a
note signed by one officer of the bank only. The array of notes
demonstrated the immense possibilities in paper money col-
lecting.
Included were a great many of the rare demand notes, na-
tional gold notes from California and wonderful oddities in
serial numbers in which Mr. George Blake, known as a great ex-
pert on paper money, showed the first and last McClung notes,
No. BIB and No. B100,000,000 in crisp condition. There were
rare low numbers in nearly every issue. A unique exhibit was
the No. 1 $5 1863 U.S. note owned by Mr. Theo F Ahrens of
Colorado. This note is in fair condition and no doubt has had
an interesting life. It is worth mentioning here that the No. 1
THREE HUNDRED YEARS
I
N recent years the "booklet" form of merchandising small
quantities of postage stamps has become extremely pop-
ular in Britain as well as the U.S., with the former even
producing special booklets honoring or advertising certain
businesses and institutions. On July 27, 1994, Royal Mail issued
such a special booklet to honor the 300th anniversary of the
Bank of England.
Paper Money Whole No. 179
Page 197
1862 U.S. note is also in existence, the property of an Ohio
man.
Among the rare and unique notes were refunding certi-
ficates, compound interest notes, demand notes, scores of na-
tional bank notes and silver certificates. In the exhibit of Mr.
Leve there was a 7.30% $50 note, a one-year note, $10 and $20
1878 seal error notes, serial number 67 current $1 bill, inverted
$1, $2 and $5 notes, an Indian Head and Jackson note, the $100
Lincoln 1880, several gold notes, serial number A4 $20 gold
certificate and many rare low serial number notes.
Fractional postage, Confederate, wild cat and broken bank
notes were also shown in profusion. Mr. Blake showed a
number of demand notes payable at different cities.
During the last week of the exhibition, a meeting was held in
the building, given up entirely to the paper money subject. At
this, the first paper money meeting of the American Numis-
matic Society, these gentlemen spoke on the various phases of
paper money: Mr. G.W. Holding, of American Bank Note Com-
pany, who has been with the company for over forty years,
spoke interestingly on the manufacture of paper money with
special reference to the engraving of the plates. Many fas-
cinating facts were included in his remarks. There are only 132
engravers in this country and 42 are employed by the American
Bank Note Co. Only one plate is engraved, and by a process of
pees, ire, duplicate plates are made, similar to the making of
postage stamp plates. Mr. Holding also described the method
by which damaged plates are repaired. He also showed a
specimen plate that has been scratched and brought up to its
former condition.
Mr. A.A. Leve of Syracuse, N.Y., who had the rarest notes in
the exhibition and who has the finest collection in the East,
spoke on paper money collecting, and related some stories in
connection with the hobby.
Mr. George H. Blake of Jersey City, N.J. spoke authoritatively
on the hobby and also showed several rare items. He also read
an article on the American Bank Note Co. from an old maga-
zine, and the comparisons drawn were humorous and aston-
ishing, especially regarding equipment.
Mr. Proskey gave some facts regarding fractional currency.
Those present also enjoyed looking over the personal collec-
tion of Henry Russell Drowne, the genial presiding officer. Mr.
Drowne's collection started in 1880, beautifully arranged, in-
cludes nearly every known variety in Confederate and broken
bank bills. His unique collection of U.S. postage envelopes was
also on exhibit and the fraternity is grateful for Mr. Drowne's
many good articles and patient research.
The meeting closed with refreshments served in the main Ex-
hibition Hall and all the ladies and gentlemen present ex-
pressed their delight for the evening spent with United States
Paper Money. Collectors are doing a valuable service in
preserving specimens of our paper money, as it is short-lived,
and few collectors care to concentrate on this branch of numis-
matics.
All the exhibits were given a bronze society medal. By
preserving various specimens, thousands of people will be able
to see the wonderful array of beautiful examples of art used on
United States notes.
Credit is given to Mr. Howland Wood, the genial and
talented curator of the Society, for his tasty arrangements of the
exhibit. Mr. Wood is an authority on Chinese and Japanese cur-
rency as well as that of our own country. In fact, I doubt if any
coinage whatsoever can stop him. ■
Postal Commemoration
of Bank of England
3 00th Anniversary
by BARBARA R. MUELLER
Like most, this booklet is a modest little affair consisting of
a "pane" of just four stamps denominated first class (1st) and an
attached decorative label delineating the commemorative pur-
pose. The attractive, multicolored label, lithographed by the
House of Questa security printers, measures 2 3/8 x 2 inches. Its
design is reminiscent of the iconography of the traditional
early Bank of England notes, with the center medallion a
reproduction of the Britannia figure seen on the 1855 note.
That Britannia, according to W. Kranister writing in The Money-
makers International (1988), was especially commissioned from
Royal Academician Daniel Maclise to replace the earlier primi-
tive depiction. It remained in use until the Series C notes ap-
peared in 1960.
Collectors in England, both philatelists and numismatists,
were dissatisfied with the use of the booklet format, believing
that the significance of the anniversary merited a full-fledged
commemorative, valid-for-postage stamp. Moreover, the place-
ment of the label in the booklet meant that it would be auto-
matically creased through the center by the fold. In response to
complaints, Royal Mail then placed unfolded panes on sale at
its Philatelic Bureau. Because of the dual hobby attractions of
the pane, pundits are predicting a quick rise in its market value.
Page 198 Paper Money Whole No. 179
Catalog of Enveloped Postage
by MILTON R. FRIEDBERG
(Continued from No. 177, page 109)
Catalog Number 186 Catalog Number 191
Paper WHITE 63.35mm Paper CREAM
Ink ORANGE-RED Ink BLACK
Commentary U.S./Postage Stamps + EAGLE Commentary RUBBER STAMPED VALUE IN SINGLE
Numerical Value 50 CIRCLE ON BLANK ENVELOPE US OVER
Word Value CENTS. VALUE OVER S
Value Message 50 CENTS Numerical Value 50
Flap Printed MISSING Word Value NONE
Pedigree HK X-MOREAU (BACK AND FLAP Value Message US/50/S in circle
MISSING) NOTE: SIMILAR TO CAT #77,
BUT WITH ENTIRELY DIFFERENT EAGLE
Flap Printed
Pedigree
NO
RW X-SEEMAN LOT 1353
PLUS OTHER DIFFERENCES
Catalog Number 192
Catalog Number 187 Paper CREAM 73x35mm
Paper WHITE Ink BLACK
Ink BLACK Commentary UNITED STATES/25 CTS/POSTAGE STAMPS.
Commentary U.S./Postage Stamps (NOTE PERIOD AFTER STAMPS)
Numerical Value 50 Numerical Value 25
Word Value 50 Cents. Value Message 25 CTS in dble lined box
Value Message 30 cts. Flap Printed
Flap Printed MISSING Pedigree RW MOREAU
Pedigree HK X-PROSKEY (BACK AND FLAP
MISSING) Catalog Number 193
Paper CREAM 74x37mm
Ink RED
Catalog Number 188 Commentary UNITED STATES/25 CTS/POSTAGE STAMPS
Paper WHITE (NO PERIOD AFTER STAMPS)
Ink GREEN Numerical Value 25
Commentary U.S./POSTAGE STAMPS. Value Message 25 CTS in dble lined box
Numerical Value 75 Flap Printed MISSING
Word Value cts. Pedigree MRF X-MOREAU (MISSING BACK AND
Value Message 75 cts. FLAP)
Flap Printed NO
Pedigree RW X-SEEMAN LOT 1353
Catalog Number 194
Paper CREAM-WHITE 75x37mm
Catalog Number 189 Ink LIGHT RED-ORANGE
Paper YELLOW (WHITE?) 73x37mm Commentary UNITED STATES/50 CTS/POSTAGE STAMPS
Ink BLACK (GREEN?) Numerical Value 50
Commentary U.S./POSTAGE STAMPS. Value Message 50 CTS in dble lined box
Numerical Value 75 DOUBLE BARS THROUGH WITH 90 IN Flap Printed MISSING
Mss. TO LEFT Pedigree MRF X-MOREAU (MISSING BACK AND
Word Value cts. FLAP)
Value Message 75 cts. changed to 90 cts.
Flap Printed MISSING Catalog Number 195Pedigree RW X-MOREAU (BACK AND FLAP Paper LT CREAM 74x45mm
MISSING) Ink BLACK
Commentary POSTAGE STATES/25/ CENTS TOP LINE
Catalog Number 190 CURVED
Paper DARK ORANGE 73.37mm Numerical Value 25
Ink BLACK Value Message 25 CENTS
Commentary U.S. Postage Stamps Flap Printed MISSING
Numerical Value 75 Pedigree KK X-MOREAU (MISSING FLAP AND BACK)
Word Value CENTS
Value Message 75 CENTS Catalog Number 196
Flap Printed MISSING Paper BUFF
Pedigree DKH X-MOREAU (MISSING FLAP AND Ink BLACK
BACK) Commentary UNITED STATES POSTAGE STAMPS.
U.S. Post age St amps .2.i el s.
0
Paper Money Whole No. 179 Page 199
Printer NOTE THAT CATALOG No. 129 IS SIMILAR Numerical Value 50
EXCEPT FOR PRINTER'S IMPRINT Word Value Cts.
Numerical Value 25 Value Message 50 Cts.
Word Value Cts. Flap Printed ?
Value Message 25 Cts. Pedigree HOOBER
Flap Printed NO
Pedigree MRF, H.R. DROWNE Catalog Number 201
Paper ?
Catalog Number 197 Ink ?
Paper BRIGHT YELLOW 71x33mm Commentary U.S. Postage Stamps
Ink BLACK Used By WARD'S
Commentary UNITED STATES POSTAGE STAMPS. Advertising Message PERFECT FITTING SHIRTS
Printer NOTE THAT PREVIOUS LISTING IS Address 387 BROADWAY
SIMILAR EXCEPT FOR PAPER COLOR. City (NYC)
Numerical Value 25 State (NY)
Word Value
Cts. Printer MURPHY & SON, PRINT,
Value Message 25 Cts. Printer's Address 68 FULTON STR.,
Flap Printed NO Printer's City N.Y.
Pedigree MRF-XWL X-MOREAU (BACK AND FLAP Printer's State (NY)
MISSING)
Numerical Value 25
Catalog Number 198
Paper
CREAM 65x42 mm.
Ink BLACK
Commentary POSTAGE STAMP HOLDER (PENCILLED
DATE 1862 LOWER RT)
Advertising Message SOLD BY S.C. UPHAM
Address 403 CHESTNUT STREET,
City PHILA.
State (PENNSYLVANIA)
Value Message NONE
Flap Printed NO
Pedigree RW 1986 X-CLINTON (LOT 5031) B&R
HETRICH (LOT 1521)
Catalog Number 198A
Paper WHITE (ALMOST TISSUE THIN)
Ink BLACK
Commentary UNITED STATES /POSTAGE STAMPS
(VERTICAL, ON RIGHT).
Advertising Message C. VAN BENTHUYSEN'S PRINTING
BINDING PAPER,
Address No. 407 BROADWAY, ALBANY
State (NY)
Numerical Value 25
Word Value Cents.
Value Message 25 Cents. vertical on left
Flap Printed NO
Pedigree DKH
Catalog Number 199
Paper
Ink
Commentary U.S. POSTAGE//STAMPS.
Advertising Message David Walker, Stationer & Printer, 4 Park
Place, N.Y.
State (NY)
Numerical Value 25
Word Value Cts.
Value Message 25 Cts.
Flap Printed
Pedigree HOOBER
Catalog Number 200
Paper
Ink
Commentary U.S. POSTAGE//STAMPS.
Advertising Message David Walker, Stationer & Printer, 4 Park
Place, N.Y.
State (NY)
Word Value cts.
Value Message 25 cts.
Flap Printed
Pedigree HOOBER
Catalog Number 202
Paper
YELLOW 72x39mm
Ink BLACK
Commentary U.S. POSTAGE STAMPS,
Used By JAMES WILEY,
Advertising Message Dealer in/Wines, Liquors & Segars,
Address No. 307 BROADWAY,
City N.Y.
State (NY)
Numerical Value 25
Word Value Cts.
Value Message 25 Cts.
Flap Printed MISSING
Pedigree RW X-MOREAU (BACK AND FLAP
MISSING)
Catalog Number 203
Paper
BUFF W/PINK LBL
Ink BLACK
Commentary PILL ENVELOPE USED FOR CHANGE?
Used By A. WILLIAMS & Co.
Advertising Message SOLD BY
City BOSTON
State (MASS)
Value Message NONE
Flap Printed NO
Pedigree MRF
End of series
Nobody pays more than Huntoon for
ARIZONA & WYOMING
state and territorial Nationals
V205926ENmEtit!!!!!!111.'nel2r‘UNITED STATES OFAMERICA
ulX411•1•B11■13
”IkUl.r,1.11141,111,111141,1,1
Peter Huntoon
P.O. Box 3681
Laramie, WY 82071
(307) 742-2217
Page 200
Paper Money Whole No. 179
THE BASICS
by BOB COCHRAN
Many new SPMC members are also new to the hobby of
collecting paper money and financial documents. I
remember when I first discovered paper money; I needed
to learn an entire new language in order to understand
the terminology commonly used.
Many of our new members are probably in the same
situation, and have repeatedly asked for a "beginners"
section in PAPER MONEY I certainly don't claim to have
all the answers, but I thought a review of the paper
money "glossary" would be worthwhile.
WHAT IS "POSTAGE
CURRENCY"?
During the Civil War, the U.S. government was faced with the
problem of solving the critical shortage of coin money in the
country. The mints couldn't produce enough coins to satisfy
the need.
People began to use postage stamps to make change. On July
17, 1862 President Abraham Lincoln signed a bill authorizing
stamps as circulating currency. This worked, but it was quickly
realized that the stamps would not last very long in circulation.
Several enterprising merchants printed envelopes which, when
filled with the appropriate number of stamps, could be used.
The persons making the exchange could look into the envelope
and make sure that it contained the proper amount without
damaging the stamps.
Still, this was not a good solution. Francis E. Spinner, the
Treasurer of the United States at the time, recounted that he
came up with the idea of making bank notes out of stamps.
What he did was to design paper money bearing the designs on
the current 5- and 10-cent postage stamps. He gave them the
name "postage currency," and had the edges of the notes perfo-
rated, just like the stamps. This term is reserved for only the first
issue of notes, in 1862 and 1863. The designs were changed in
1863, and the perforated edges were discontinued.
The four subsequent issues of notes in denominations of less
than one dollar by the U.S. government over the period
1863-1876 are properly defined as "fractional currency!'
WHAT DOES
"DISCOUNT" MEAN?
"Discounting" was the practice of redeeming paper money at
less than its face value. Many banks were located in small
towns away from metropolitan areas, and news traveled very
slowly. Because there were so many notes in circulation from as
many different banks, the public was cautious about accepting
paper money from a bank with which they were not familiar.
Merchants often accepted paper money from such banks, but
they would not accept it at face value. Remember, they had to
turn around and use it to pay their bills, and their creditors or
banks might apply the same practice to them.
William H. Dillisten in Bank Note Reporters and Counterfeit
Detectors 1826-1866 offered an insight into the situation, when
he quoted the story of a French visitor with Georgia bank
notes:
It seemed the little man had arrived from Cuba, with about eight
thousand dollars in gold, which by way of security he lodged in one
of the banks of Savannah. When he came to demand his money, he
was told that they did not pay specie, and he must therefore take
bank notes or nothing. Being an entire stranger, and ignorant of the
depreciation of paper money, arising from the refusal to pay specie,
and from the erection of such an infinite number of petty banks in
every obscure village without capital or character, he took the
worthless rags and began his Journey northward. Every step he
proceeded with his money grew worse and worse, and he was now
travelling on to Boston with the full conviction that by the time he
got there he should be a beggar.
Paper Money Whole No. 179 Page 201
HOW TO START A BANK:
PRIOR To 1851
Submitted by ROCKY ROCKHOLT
D
ID you ever wonder how difficult or easy it would be
to have set up a new bank during the time when so
many banks were created with little more than
printed paper? If you thought that people in one community
would not accept paper with no known value that was a
product of that same community, how could you get enough
bank notes from other communities to start a bank? Obvi-
ously, bank notes from a different community would be ac-
cepted at full or near full face value in trade, wouldn't they?
Well, maybe; well, for a little while, maybe.
What happened to the enterprising folks who were brazen
enough to attempt to start a bank? Were they honest? Were
they run out of town? Did they become the pillars of the com-
munity? Did their children become some of the communities
most respected citizens of the next generation or two?
As a student of obsolete bank notes from the State of Min-
nesota for many years, I have, from time to time, pondered
these thoughts. We now know that most of the time the bank
notes were not worth the paper on which they were printed,
even though some of them are prized and priced very dearly
today!
A friend loaned me a book recently, Old Times on the Upper
Mississippi, by George Byron Merrick, published by The Arthur
H. Clark Company of Cleveland, Ohio, in 1909. This is a book
of recollections of a steamboat pilot from 1854 to 1863 and is
fascinating reading! One chapter particularly caught my atten-
tion: "Wild-Cat Money and Town-Sites' I wanted to share these
insights with you and quote directly from the book:
Both of these specimens of natural history were bred, nur-
tured, and let loose in countless numbers to prey upon the
people in the early days that witnessed the opening of the
Northwestern territories to settlement. The wild-cat dollars
waxed fat upon the blood and brawn of the settlers who had
already arrived; wild-cat town-sites found ready victims in
the thousands of Eastern people who desired to better their
fortunes, and who lent ready ears to the golden tales of un-
scrupulous promoters, that told of wonderful cities of the
West, whose only reality was that blazoned in the prospec-
tuses scattered broadcast through the East.
The younger generation, whose only acquaintance with
the circulating symbols of wealth that we call "money", is
confined to the decades since the close of the War of Seces-
sion, can have no idea of the laxity of banking laws of the
fifties, in the Northwestern states and territories, nor of the
instability of the so-called "money' that comprised nine-
tenths of the medium of exchange then in use in the West.
Nowadays, a bank bill stands for its face value in gold, if it
be a National Bank issue. [Editor's note: Please keep in mind
this was published in 1909.] If a state bank—and bills of this
sort are comparatively few in these days—they are also
guaranteed, in a measure, by the laws of the state in which
the bank is situated. In these days, of which I am writing,
and especially in the unsettled and troublesome times just
before the war (from 1856 to 1862), the money that was
handled on the river in the prosecution of business, except
of course the small proportion of gold that was still in circu-
lation, had little or no backing, either by federal or state
enactments.
A man went into an embryo city, consisting in that day of
two or three thousand town lots, and from fifty to a hun-
dred inhabitants, with an iron box costing twenty-five
dollars. In this box he had ten, twenty, or thirty thousand
"dollars" in new bank bills purporting to have been issued
from two, three, or four banks doing business in other
equally large, populous, and growing cities, situated else-
where in Wisconsin, or preferably in Illinois, Indiana, or
Michigan. How did he become possessed of all this wealth?
Was it the savings of years? The iron box was, perhaps; per-
haps he got trusted for that. The money was not usually the
savings of any time at all; it was simply printed to order.
Five or six persons desirous of benefitting their fellow
men by assisting them in opening their farms and "moving
their crops," would get together in Chicago, Cincinnati, or
St. Louis, wherever there was an establishment capable of
engraving and printing bank bills—and not very elegant or
artistic printing was required, or desired. These men pro-
pose to start as many banks, in as many "cities" in the West.
They have money enough, each of them to buy a safe, an
iron box into which any carpenter could bore with an ordi-
nary brace and bit, and enough over to pay for the printing
of twenty thousand dollars' worth of bills in denominations
of one, two, five and ten dollars. The printing finished, each
man would sign his own bills as president, and one of the
others would add the final touch of authenticity by signing
a fictitious name to the same bills as cashier. Then it was
"money"
But it would have been overloading the credulity of even
the most gullible denizens of his adopted city to ask them
to accept his own bills as legal tender; so a swap was made
all around, and when the requisite amount of shuffling was
completed, each man had his twenty thousand dollars in
bills on four or five banks, but none of his own issue. There
was a double incentive in this transaction: first, it inspired
the utmost confidence in the minds of the men who were to
borrow this money. How could this banker who had come
among them for their good, have acquired this money by
any other than legitimate transactions? If it were bills on his
own bank that he proposed to put into circulation, there
might be some question as to their guaranty; but he could
not get this money by merely going to the printing office
and ordering it, as he might in case of bills on his own insti-
tution. It certainly must be good money. Secondly, by dis-
tributing his bills in as many different localities as possible,
the chances of its never being presented for redemption
Page 202 Paper Money Whole No. 179
were greatly multiplied; it might be burned, or lost overboard,
or worn out, in which case he would be just so much ahead,
and no questions asked.
The foregoing may be a somewhat fanciful statement of the
way in which the bankers proceeded, but in essence it is a true
picture. They may not have all met in Chicago, or anywhere
else, to perfect these arrangements, but the arrangements were
all perfected practically as stated: "You put my bills into cir-
culation, and 1 will put out yours; and in each case the ex-
change will greatly assist each and all of us in hoodwinking
our victims into the belief that it is money, and not merely
printed paper which we are offering them!'
Equipped with these goods, and with a charter from the
state in which he proposed to operate—a charter granted for
the asking, and no questions raised—the banker transports
himself and his box of money to his chosen field of opera-
tions. The newspaper which has already been located in the
new city heralds the coming of Mr. Rothschild, our new
banker, more or less definitely hinting at the great wealth lying
behind the coming financier. A bank building is rented, a sign
hung out, and he begins to loan his money at five percent per
month on the partially-improved farms of his neighbors, or
the house and lot of his "city" friends. He is a liberal man, and
if it is not convenient for you to pay the interest as it accrues,
he will let it stand—but he does not forget to compound it
every month. The result is inevitable. The debt mounts up
with a rapidity that paralyzes the borrower, and in the end
a foreclosure adds farm and improvements to the growing
assets of the banker. Within a very few years he is the owner
of eight or ten of the best farms in the county, and perhaps
half a dozen houses and lots in the village, and all with the
investment of less than a hundred dollars invested in printing,
and an iron box, and without the expenditure of an ounce
of energy or a legitimate day's work. And the victims break
up and start anew for the still farther West, to take new farms,
to be engulfed in the maws of other sharks. One may not
greatly pity the men themselves, for men are born to work
and suffer; but the women! God pity them. Worn, tired,
broken-hearted, they must leave that which is dearest to them
in all the world, their homes, and fare forth again into the
wilderness, to toil and suffer, and at last, blessed release, to die.
And the bankers? They were counted honest. If by any
chance one of their bills came to hand and was presented for
payment at the home counter, it was promptly redeemed,
sometimes in gold or silver, but oftener with another bill on
some other bank belonging to the syndicate. I personally
knew some of these bankers. Some of them were freebooters
without conscience and without shame. Under color of law,
they robbed the settlers of their lands and improvements, and
defied public opinion. Others put on a cloak of righteous-
ness; they were leaders in the lovefeasts and pillars in the
church; and they also had their neighbors' lands and improve-
ments. Their descendants are rich and respected to-day in the
communities where their fathers plied their iniquitous trade;
and these rule where their fathers robbed.
As a clerk on the river, I had some experience in handling
the wild-cat money. At Dunleith, before starting on the up-
river trip, we were handed by the secretary of the company,
a Thompson's Bank Note Detector, and with it a list of the bills
that we might accept in payment for freight or passage. We
were also given a list of those that we might not accept at all;
and still another list upon which we might speculate, at values
running from twenty-five to seventy-five per cent of their face
denominations. Thus equipped we started upstream, and the
trouble started with us. At McGregor we put off a lot of freight,
and were tendered money. We consulted our lists and cast into
outer darkness that which had upon it the anathema of Mr.
Jones, the secretary. We accepted all on the list of the elect,
and comprised upon enough more to balance our freight ac-
count. The agent at McGregor had a list of his own which
partly coincided with ours but in general disagreed. In the
meantime another boat of our line had arrived from up river,
and we get from her clerk fifteen or twenty lists of bills which
would be taken or rejected at as many landings above. This
helps somewhat, as we see our way clear to get rid of some
of our twenty-five per cent stuff at par in exchange for cord
wood or stores on the upper river, and we sort our stock out
into packages which are reported current at each landing. We
also see an opportunity to swap at Dunleith some bills which
are not current there at all, but which are taken at par at Pres-
cott or Stillwater, for other bills which they do not want but
which will be taken at the company's office at Dunleith in set-
tlement of our trip.
It required a long head to figure it out. Mine was long
enough, but unfortunately it had the same dimensions both
ways, and was not to be depended upon in these finer trans-
actions. Mr. Hargus labored with the problem, studying lists
until he came nigh to the point of insanity, with the result
that when we "cashed in" on our return it was usually found
that we had from five hundred to a thousand dollars that was
not acceptable. This we kept, and the boat was debited with
the amount on the company's books. On the next trip we
would usually be able to work off some of this stuff. At the
end of one season I recollect that we had some two thousand
dollars, face estimate, of this paper on hand, which the treas-
urer would not accept, for the banks on which the bills were
drawn had gone out of existence!'
Sounds to easy to be true doesn't it? Nevertheless, this is the
essence of the origin of some those little pieces of paper that we
collect today. To answer some of the questions posed at the be-
ginning, yes, I do believe that some of the bankers became pillars
of the society in which we live today. Sometimes, success breeds
success and those bankers had such a good thing going they
would not walk away from a very successful business enterprise.
Others may have hurriedly left town before the "tar and feather'
team retained them for one last activity.
We are all grateful for those little pieces of paper today. His-
tory does come to life as we read it today and use our fertile im-
aginations! Say, do you want to join me and several friends as
we plan to start a little banking syndicate in the Midwest . . . ?
OBSOLETE NOTES
LARGE CATALOG
ALSO INCLUDED CSA, STOCKS &
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$2.00 REFUNDABLE
Always Buying at Top Prices
RICHARD T. HOOBER, JR.
P.O. BOX 3116
KEY LARGO, FL 33037
PHONE (305) 853-0105
Paper Money Whole No. 179 Page 203
Column DeanOakes
My goals and your goals for the SPMC are similar, I'm certain,
if not the same. We wish for an increasing, active membership,
a membership made up of generalized and specialized cur-
rency collectors. Collectors demand and, we hope, receive
knowledge plus information from this magazine and other
published works that the Society underwrites. The Society has
plans to publish two books in the coming year.
One of the areas that we the members can profit by is
regional meetings. These meetings are usually held at state and
regional coin shows. The SPMC wants to return to its grass
roots and would like to help in providing programs and sup-
port to these meetings. We have at least three currency shows,
i.e., Memphis, St. Louis and Chicago where we have a presence
plus the ANA location each year. If you are not able to get to
one of these locations, contact an SPMC director or write to me
and we will see if we can come closer to you.
I want to thank Ron Horstman for his fine handling of the
new membership director's responsibilities over the past 13
years. In the years that I was treasurer we had only one mixup
with a new member out of the hundreds of names processed.
The Society will miss Ron's approach to this job. Ron is a
director and will be actively involved in the Society efforts.
Our new membership director will be Judith Murphy. Judith
is, of course, our past president. Judith and her husband Claud
attend many shows each year. She will be happy to talk to any
prospective member about the merits of the SPMC. Let's all
help out with recruitment of new members so Judith won't feel
like the Maytag repairman.
Most of you will know by the time you read this that the
hobby has lost its most ardent supporter of national bank note
collecting—John Hickman. John passed away a week after at-
tending the Memphis show. John spent a lot of the past thirty
years encouraging collectors to collect "Nationals!' If you
wanted to talk about nationals, John's time was yours. If you
wanted specific information from him he would give it but he
always mentioned a quid pro quo. John and I were partners for
many years, happily putting out lists until we were forced into
the auction business by the national bank note fervor brought
about by John's tutelage. I feel John Hickman had a presence
along with his love of "Nationals" and his fellow man that will
not be equalled. We won't fill John's shoes with any one person.
Happy Hunting,
Dean Oakes
Excerpts from the minutes of the meeting of the Executive
Board of the Society of Paper Money Collectors. Memphis,
Tennessee, June 17, 1995.
Meeting called to order by President Murphy at 8 a.m. Board
members present: Tim Kyzivat, John Ferreri, Austin M. She-
heen, Dean Oakes, John Jackson, Gene Hessler, Frank Clark,
Bob Moon, Ray Ellenbogen, Milton Friedberg, Steve Taylor,
Ron Horstman, Bob Cochran. Guests present: Gordon Harris,
Mike Crabb, Greg Ruby, Roger Durand, Les Winners.
The minutes of the previous meeting of the Board were ap-
proved as mailed to the members.
President Murphy presented a proposal for a slide program
from Ed Fritz, SPMC Life Member and President of the Blue
Ridge Numismatic Society. A discussion was held regarding the
proposal.
Ray Ellenbogen offered a motion to have SPMC set up a slide
program, to take $1,000 from the Wismer Fund, combined
with the $200 offer from Ed Fritz, and for Gene Hessler to work
with Ed Fritz to prepare the program. The motion was
seconded by Steve Taylor. MOTION PASSED.
The Secretary reported that the current membership is ap-
proximately 1,725 members.
The Treasurer reported that the Society is in excellent finan-
cial condition, and that a written statement will soon be
mailed out to the board and printed in PAPER MONEY.
Member Gordon Harris questioned the status of the manu-
script that he had provided to SPMC (New York Scrip Notes).
Bob Cochran relayed some comments from Wismer Project
Chairman Steven Whitfield to the effect that there are serious
problems with a large number of the illustrations that Mr.
Harris provided.
Steve indicated that none of the three SPMC members who
had agreed to review the Kentucky manuscript had contacted
him. He indicated that SPMC member Glenn Martin had
offered to allow notes from his collection to be photographed
for inclusion in the Kentucky book. Steve suggested that SPMC
consider hiring a professional to complete the Kentucky book
and begin work on the New York Scrip book. The task is too
large for a single individual to complete while juggling work
and family. This comment received universal agreement from
those present.
Roger Durand reinforced Steve's suggestion, that SPMC hire
a qualified writer to complete the Kentucky and New York Scrip
books. After some discussion, President Murphy appointed a
committee of Austin Sheheen, Roger Durand and Dean Oakes
(chair) with the task of "FIXING" the Wismer situation.
Editor Gene Hessler indicated that he has a good supply of
articles on hand, and that he will continue to use the 40-page
format for the time being, unless the number of new articles
coming in drops off substantially.
A discussion was held about the practice of placing adver-
tisements offering free issues of PAPER MONEY to anyone re-
questing one; specifically, sending the free issues and paying
the postage charges. Gene Hessler said that he thought the
board had agreed to stop this practice some time ago. He un-
derstood that the practice was to offer the magazines for free,
but to ask the recipient to pay the postage costs for delivery. A
report from Membership Director Ronald Horstman some
time ago stated that very few who received the free issues actu-
ally joined the Society.
Austin Sheheen stated that he felt the present practice was a
good one, as the Society needs to constantly solicit new
members, and that the practice as it currently stands should be
continued.
The
President's
Page 204 Paper Money Whole No. 179
Membership Director Ronald Horstman stated that he is
sending out extra issues from 1991, which would otherwise be
thrown away. Gene Hessler said that his understanding of the
policy is that extra issues of PAPER MONEY are to be made
available to SPMC members for passing out at local and
regional numismatic shows and club meetings. It was also
pointed out that the masthead page in PAPER MONEY states
that individual copies of PAPER MONEY are offered for sale at
$3.75, including postage.
President Murphy then stated that she would not be a candi-
date for re-election to the office of President, and opened the
floor for nominations. Bob Cochran nominated Dean Oakes
for President, seconded by Bob Moon. Austin Sheheen moved
that Dean Oakes be elected by acclamation, seconded by Frank
Clark. Motion passed.
Bob Cochran nominated Bob Moon for Vice-President,
seconded by Austin Sheheen. Austin moved that Moon be
elected by acclamation, seconded by Tim Kyzivat. Motion
passed.
President Murphy welcomed new board members Raphael
Ellenbogen and Steven Whitfield. Milton Friedberg, Treasurer
Tim Kyzivat and Secretary Bob Cochran were asked by Presi-
dent Oakes to continue to serve in their current positions until
at least the meeting in St. Louis, at which time the proposals for
revising the By-Laws will be decided. All agreed to do so.
President Oakes indicated that he will be seeking volunteers
to serve on the Awards and Nominating Committees, as well as
qualified members to serve as Exhibit Judges at those events
where SPMC makes awards.
Raphael Ellenbogen proposed an expression of appreciation
to former President Murphy for her excellent performance as
President. Second lost in the applause.
The meeting adjourned at 9:25 a.m.
Bob Cochran, Secretary
Awards at Memphis
Literary awards for 1994 were presented on June 17 at the
Memphis International Paper Money Show.
For articles in PAPER MONEY, vol. xxxiii: 1, Stephen Gold-
berg "Sorting the Issues of New York City" No. 173; 2, Gene
Hessler 'Two Unique Interest-Bearing Notes," No. 173; 3,
Robert Moon 'Why I Collect New York State Nationals," No.
169. The recipient of the Dr. Glenn Jackson Memorial Award
was Walter Allan for the "Development of the Bank of
Canada's 1937 Issue" in the Canadian Paper Money Journal, vol.
30, no. 114, 1994. This is the third consecutive year for Walter.
The Nathan Gold Memorial Award went to John Hickman
for his continuous contributions to the field of paper money
research. Once again Stanley Morycz was recognized as the
top SPMC recruiter: Stanley recruited 87 members. Bravo!
A plaque from the Memphis Coin Club was made available
to each exhibitor. Specific awards were also presented. Raphael
Ellenbogen received the SPMC Best of Show Award for an ex-
ceptional presentation of U.S. error notes; Walter Allan won
the Julian Blanchard Award for his "Development of Bank Note
Design"
The Fractional Currency Collectors Board presented three
awards: 1, Bob Laub for "Fourth Issue Fractionals"; 2, Benny
Bolin for "Justice, Third Issue Fractionals"; 3, Milton Friedberg
for "Fractional Currency Experimental & Unusual Issues"
The Amon Carter, Jr. Award, presented by the IBNS, went to
John Jackson for "The French Connection" The Bank Note
Reporter Most Inspirational Award was received by James
Simek for his exhibit of U.S. small-size currency.
The quality of exhibits was extremely high this year, espe-
cially those that showcased bank note design and engraving. To
those interested in this subject, it would have been worth the
trip to Memphis just to see exhibits by Walter Allan, Ray Ellen-
bogen, John Jackson and Mark Tomasko, to mention a few. If
there had been an award for the heaviest exhibit, Raphael
Ellenbogen would have received it for the books he transported
to Memphis that were included in one of his exhibits. He said,
"never again"
New Literature
The Engraver's Line. Gene Hessler, 448 pp., hardcover, illus-
trated. BNR Press, 132 E. Second St., Port Clinton, OH
43452-1115. Voice or FAX 800-793-0683 or the ANA Money-
Market, telephone toll free 800-367-9723. $85 plus $3 postage.
Before the publication of Gene Hessler's Book The Engraver's Line:
An Encyclopedia of Paper Money and Postage Stamp Art (ANA Li-
brary Cat. No. US25.H4e), there virtually was no source from
which to learn about many American bank note engravers,
designers and artists. For the first time, Hessler has made avail-
able a large amount of information about these craftsmen, their
work and the bank note companies.
The starting point for The Engraver's Line was an unpublished
1940s typescript. Over a long period of time, Hessler added
numerous pieces of information and hundreds of photos of en-
gravers and designers (as well as many of the engravings them-
selves) to his research, ultimately creating a biographical
dictionary.
The listings of engravings that follow the biographical infor-
mation (when specific works are known) usually are keyed to
the bank notes, stamps or securities on which the engravings ap-
pear, with references to the appropriate catalog numbers in the
most commonly used bank note and stamp catalogs. (Unfor-
tunately, in the case of securities, no such catalogs exist, so the
references pertain solely to the stocks or bonds on which the en-
gravings appeared.)
The question of how to identify vignettes poses a problem be-
cause so many are very similar in design. The same often is true
of portraits. Bank note company vignette numbers or other types
of identification generally are not available, so Hessler has
resorted to the only really feasible solution: he associates the vi-
gnette or portrait with documents that, at least in the case of
stamps and bank notes, can be found in most catalogs.
Hessler notes in the preface that this is an "initial effort" and
I think he would agree that work in this area is just beginning.
However, I strongly suspect there will not be another volume like
this published in the foreseeable future, because of the time, cost
and limited market involved. For many of the minor engravers
and companies, existing biographical information, let alone any
listing of their works, is sketchy or incomplete.
The book contains several lengthy appendixes, including lists
of designers and engravers of all United States postage stamps,
and a listing of patents related to bank note engraving. A com-
prehensive bibliography and three indexes assist in locating en-
graved subjects and other references.
Hesslei's pioneering book makes a major amount of informa-
tion accessible to researchers and collectors for the first time. Re-
search libraries and collectors will want to add this volume to
their reference collections. Mark D. Tomasko
Reprinted courtesy of The NUMISMATIST (May 1995), official
publication of the American Numismatic Association, 818 North
Cascade Avenue, Colorado Springs, CO 80903-3279.
Paper Money Whole No. 179 Page 205
IN MEMORIAM
I knew John Hickman, John Hickman was a friend of
mine, and you are no John Hickman. Anyone who knew
John can safely utter these familiar words, because John
was like no one else; he was that super-rare, unique in-
dividual. With his endless repertoire of stories, John was
a numismatic Mark Twain. Just about everything there is
to say about John has already been said, but there is no
reason not to say it again and again.
John was born in Macon, GA in 1927 and attended
Lanier High School. After serving in the U.S. Navy he
moved to West Des Moines over 40 years ago. His in-
terest in our collective endeavor began about 25 years
ago; it evolved from his work as a representative for F&E
Check Protectors.
Everyone knows that John co-authored the Standard
Catalog of National Bank Notes. However, to achieve this,
John collected data for decades, and thereby was able to
assign a rarity to each note he saw. His initial notations
on scraps of paper grew to records for more than 150,000
national bank notes. These notes, all with stories to tell,
were, as John would say, history in your hand. Chet Krause
called him "America's resident expert on nationals!'
John helped to establish the Higgins Museum and Li-
brary in Okoboji, IA. The museum has the most com-
plete collection of Iowa national bank notes. He was the
recipient of numerous awards, including those from the
CSNS, the CCCC, the PCDA and the SPMC.
We will all miss John. Those who never met him, will,
unfortunately, never experience the joy of having John
share his knowledge with them. The largest recorded as-
semblage of SPMC members came to hear John speak at
the annual meeting in 1977. He spoke for over 45
minutes, much too long for the average speaker. How-
ever, for the audience, John's audience, it was not long
enough. Time had little meaning for John when he was
talking about his favorite subject—national bank notes.
John is survived by his wife, Doris Juanita, a daughter,
Alice Barz and three sons, Rick, Matt and Kevin, and his
mother Alice Clay. Memorial contributions may be sent
to the Higgins Museum Foundation in Okoboji, IA or
the American Cancer Society.
We lost John on June 27. However, to further per-
petuate his memory, there will be some previously-
printed thoughts of John Hickman in future issues of
PAPER MONEY (Ed.)
NEW MEMBERSHIP COORDINATOR
Judith Murphy
P.O. Box 24056
NEWWinston Salem
MEMBERS
8870 Wolfgang Tschira, Postfach 1104 D-76765 Hagenbach/PFALZ,
Germany; C, World notes.
8871 Fred Pan, 9710 Laramie Ave., Chatsworth, CA 91311; C&D,
China.
8872 Charles E Weiss, 1542 Moreno Dr., Glendale, CA 91207; C,
U.S.
8873 John Bow, 7411 Bridle Dr., Nashville, TN 37221; C&D, Obsolete
notes.
8874 Michael E. Powers, 6531 Co. Rd. 200 N, Greensburg, IN 47240;
C, Indiana NBN.
8875 Mark Perry, 440 W. Creekview Dr., Meridan, ID 83642; C, C.S.A.
& Lg. size U.S.
8876 Jerry Lebo, P.O. Box 44337, Indianapolis, IN 46244; C&D, In-
diana notes.
8877 Bud Arey, 9201 Moody Park, Overland Park, KS 66212; C.
8878 Gary Polanec, 3 Pinewood Rd., Hudson, NH 03051; C, NH &
PA obsoletes.
8879 Allan T. Robinson, 1159 Concord Dr., Brick Town, NJ 08724;
C, Obsolete & U.S. notes.
8880 Nick Adam, #4 Horseshoe Ln. Box 453, Litchfield, IL 62056; C.
8881 Albert J. Korbel, 909 E. Kenilworth Rd., Palatine, IL 60067; C,
$3 obsoletes.
8882 Ron Carman, 141 Newport Lane, Lilburn, GA 30247; C.
8883 Len Marshall, 116 Burke Place, Paramus, NJ 07652-4012; C, FR
& NBN.
8884 James E. Deas, 4583 Northlake Lane SE, Conyers, GA
30208-4618; C, Colonial, C.S.A. & Lg. size U.S.
8885 Larry Judah, 220 Century Place #3108, Alexandria, VA
22304-5781; C, Errors.
8886 Marvin Mercile, 1928 Dominion Dr., Fort Wayne, IN 46815; C,
MPC.
8887 Christopher J. Salmon, 560 Ridgeway Rd., Lake Oswego, OR
97034; C, Continental, colonial & U.S.
8888 Claire Lobel, 45 Great Russell St., London WCIB 3LU England;
C&D.
8889 Kenneth A. Korb, 24 Helene Rd., Waban, MA 02168; C, Lg. size
U.S.
8890 Bruce C. Hoag, 365 Macon Dr., Bridgeport, CT 06606; C, Sm.
size U.S.
8891 Charles Lindquist, 347 Maureen, Wheeling, IL 60090-4549; C.
8892 Peter Bylen, P.O. Box 7193, Westchester, IL 60154-7193; C, Latin
America, Ukraine, Prussian Empire, U.S.S.R.
8893 Paul R. Matzke, 4820 Woodlyn Dr., Baton Rouge, LA 70816; C.
8894 John Harris, 507 Marlowe Rd., Raleigh, NC 27609; C, NC ob-
soletes & U.S.
8895 Edwin Ayala, P.O. Box 7972, Caguas, PR 00726; C, U.S.
8896 Roger Champagne, 4100 Massachusetts Ave. NW #412,
Washington, DC 20016; C, All U.S., Early Chinese and Japanese.
8897 Richard A. Carlson, Box 979, Graystone Sta., Yonkers, NY 10703;
C, U.S., Ireland & British.
8898 David L. Pimper, P.O. Box 5541, Rome, GA 30161; C.
8899 Sherwin J. Hemphill, 501 Napa Valley Rd. #722, Little Rock, AR
72211; C, Small-size notes.
8900 Robert P. Magyar, 558 Clark St., Bridgeport, CT 06606; C, U.S.
currency.
8901 Hal Webb, 4024 Rochdale Dr., Carmichael, CA 95608.
8902 Richard Kohl, 1840 N. Federal Hwy., Boynton Beach, FL 33435;
D.
8903 Lawrence Birk, 303 Elm Ave., Pewee Valley, KY 40056; C.
8904 Bruce Vogt, 116 Conifer Circle, Agoura, CA 91301; C, U.S. silver
cert., world paper, esp. India.
8905 Robert W. Kindig, 1504 NW Valley View Dr., Roseburg, OR
97470.
8906 Darrell 0. Raysor, 410 Brookwood Dr., Ambler, PA 19002-5027;
C, Sm. size NBN.
8907 Charles Moloney, 8146 Peaceful Valley, Clarkson, MI 48348; C,
Colonial oversize notes.
8908 Fred Brisentine, 141 Acuff Rd., Gurley, AL 35748.
8909 Joseph Semerdi, P.O. Box 7343, Dandenong, 3175 Vic. Australia;
C&D, 18th & 19th Cent. world notes.
8910 Victor M. Torres, A-38FA Unit #15683, APO AP 96257-0683; C,
Korea.
8911 Partick Hempel, 318 E. Main, Mendon, MI 49072.
8912 David Stordahl, P.O. Box 88 110 Cleveland Ave., McIntosh, MN
56556; C.
8913 Michael W. Haner, 6543 Ledbetter, Houston, TX 77087; C, Col.,
cont. & U.S.
Page 206 Paper Money Whole No. 179
8914 Richard 0. Kriss, 26137 Paysandu Dr., Punta Gorda, FL 33983.
8915 Donald Patterson, 2818 Mohawk Ave., Baltimore, MD 21207.
8916 John J. Becker, 3762 Walters Dr., Brunswick, OH 44212-2747;
C, Small-size U.S. & British Commonwealth.
8917 Malcolm Grover, 13039 King Arthur Spur, St. Louis, MO
63146; C, Lg. size U.S.
8918 Joseph Starha, 40380 Upper Calapooia Dr., Sweet Home, OR
97386; C, Lg. size U.S.
8919 Robert R. Anschuetz II, 1123 Lake Weldona Dr., Orlando, FL
32806; C, Carmi Thompson signature notes.
8920 Bobby S. Wang, 3000 N. First Lane, McAllen, TX 78501; C, U.S.
& Chinese notes.
8921 James S. Barber, 104 N. Avon, Phillips, WI 54555; C.
8922 C. Robert Chow, P.O. Box 1776, Boston, MA 02105; C, CO Nat.
BN.
8923 Stanley Mutzabaugh, P.O.Box 56, Duncannon, PA
17020-0056; C, Nat. BN.
8924 J. Granger MacFarlane, P.O. Box 201, Roanoke, VA 24002; C.
8925 Arthur Mollica, 9362 72 St. South, Cottage Grove, MN 55016;
C, 20th cent. notes.
8926 Stephen Gulo, 27 Hartford St., Dover, MA 02030; C.
8927 Paul J. Puskar, 215 Allan Ave., Rohnert Park, CA 94928-3116.
8928 Robert Inselmann, 111 S. 13th St. 2nd Fl., Allentown, PA
18102; C.
8929 Greg K. Bannon, P.O. Box 188, Cedar, MI 49621; C, US. sm.
size notes.
8930 Donald L. Skinner, 2909 Partridge Ave., Wausau, WI
54401-7295; C, WI Nat. BN & MPC.
8931 Sam Rider, 3760 Maderia Way, Livermore, CA 94550; C.
8932 Russell Plutchok, 686 E. 2nd St., Brooklyn, NY 11218; C, U.S.
notes & sil. certs.
8933 Bart Albano Jr., 58 Central Ave., Medford, MA 02155; C, frac-
tionals.
8934 Bruce M. Gelber, P.O. Box 171042, San Antonio, TX 78217; C,
$2 bills & Nat. BN.
8935 Jim Poe, P.O. Box 309, Englewood, OH 45322; C&D, U.S.
currency.
8936 Sheldon F. Smith, 2406 Monroe St., Columbia, SC 29205; C,
C.S.A. & southern states.
8937 Mike Marek, 16749 Baywood Terr., Eden Prairie, MN 55346.
8938 John Hayes, 837 W. Salisbury St., Asheboro, NC 27203; C, Nat.
BN.
8939 Brad Good, 1111 North Gulfstream Ave. #16D, Sarasota, FL
34236; C, Sil. certs.
8940 Henry Yonan, 1109 Neubert St., Flint, MI 48507-2104; C.
8941 Robert C. Kaufman, 4001 Irvington Ave., Coconut Grove, FL
33133; C, U.S. type notes.
8942 David Ricobene, 6100 S. Karlov, Chicago, IL 60629; C, First
charter Nat. BN.
8943 Jim Sobery, 6617 Sienna Ct., Norcross, GA 30092; C, C.S.A.
notes.
8944 Paul Butler, 106 Cornell Ave., Pt. Pleasant Beach, NJ 08742; C.
8945 Edward J. Lane, P.O. Box 2186, Pensacola, FL 32513; C&D, Nat.
BN.
8946 William E Lemmon, 99 Cranford Ave., Staten Island, NY
10306-2113; C, Errors & lg. size U.S.
8947 Charles W. Woodruff, P.O. Box 3776, Redwood City, CA
94064; C&D, Col., C.S.A., U.S. obsolete & fed.
8948 Tim Hughes, P.O. Box 3636, Williamsport, PA 17701; D, Col.
& cont.
8949 Robert L. Woodard, 7291 Germantown Trails, Memphis, TN
38125; C, Nat. BN.
Paper Money will accept classified advertising from members only on a basis of
154 per word, with a minimum charge of $3.75. The primary purpose of the ads
is to assist members in exchanging, buying, selling, or locating specialized mate-
rial and disposing of duplicates. Copy must be non-commercial in nature. Copy
must be legibly printed or typed, accompanied by prepayment made payable to
the Society of Paper Money Collectors, and reach the Editor, Gene Hessler, P.O.
Box 8147, St. Louis, MO 63156 by the first of the month preceding the month of
issue (i.e. Dec. 1 for Jan./Feb. issue). Word count: Name and address will count
as five words. All other words and abbreviations, figure combinations and initials
count as separate. No check copies. 10% discount for four or more insertions of
the same copy. Sample ad and word count.
WANTED: CONFEDERATE FACSIMILES by Upham for cash or trade
for FRN block letters, $1 SC, U.S. obsolete. John W. Member, 000 Last
St., New York, N.Y. 10015.
(22 words: $2: SC: U.S.: FRN counted as one word each)
OLD STOCK CERTIFICATES! Catalog plus 3 beautiful certificates
$4.95. Also buy! Ken Prag, Box 14817PM, San Francisco, CA 94114.
Phone (415) 566-6400. (182)
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: U.S., CSA, OBSO-
LETES, STOCKS, FRN, MPC, JIM, WWII, GUERRILLA, WORLD, NOT-
GELD, STAMPS, FDC, COINS, CHITS. 526 SASE APPRECIATED.
702-753-2435. HOFFMAN, BOX 6039-S, ELKO, NEVADA 89802-6039.
(180)
WANTED: EDINBORO, Penna the FNB of Edinboro Ch. #7312. Hal
Blount, 535 Autumn Oak Dr., Baton Rouge, LA 70810 or 504-756-5583
after 9 p.m. or leave message. (179)
WANTED: NEW YORK FOR PERSONAL COLLECTION. TARRY-
TOWN 364 & 2626, MOUNT VERNON 8516 & 5271, MAMARONECK
5411 & 13592, Rye, Mt. Kisco, Hastings, Croton on Hudson, Sommers,
Harrison, Sing Sing, Ossining, White Plains, Irvington, Bronxville,
Ardsley, Crestwood, New Rochelle, Elmsford, Scarsdale, Larchmont,
Portchester, Tuckahoe, Mt. Vernon, Peekskill, Pelham, Hartsdale,
Chappaqua. Send photocopy, price: Frank Levitan, 4 Crest Ave., Larch-
mont, N.Y. 10538-1311, 914-834-6249. (187)
LEBANON WANTED. Private collector pays top prices for paper
money from Lebanon in any condition. Also buying worldwide paper
money. Please contact: MHH, 6295 River Run Place, Orlando, FL 32807
USA. (182)
WANTED: Camden, N.J. Nationals, Lg. and small. Send list with prices
(photocopy appreciated). Ken Denski, 495 Burgundy Dr.,
Southampton, PA 18966-3527. (179)
STOCK CERTIFICATE LIST SASE. Specials: 50 different $19. Five lots
$75. 15 different railroad stocks, most picturing trains, $20. Five lots
$80. Satisfaction guaranteed. Always buying. Clinton Hollins, Box
112-P, Springfield, VA 22150-0112. (190)
.mon?oP mart
CIVIL WAR CONFEDERATE, U.S. and State paper money, documents
and stamps wanted in good, fair and poor condition. Lots and dupli-
cates welcomed. Jim Sobery, 6617 Sienna, Norcross, GA 30092.
WANTED: Huntsville Alabama—Nationals, Obsoletes, scrip, checks,
postcards, etc. Bob Cochran, Box 1085, Florissant, MO 63031.
PAPER MONEY ISSUES WANTED to complete a set: Vol. 2, No. 1
Winter 1973; Vol. 2, No. 2, Spring 1963. Robert R. Moon, P.O. Box 81,
Kinderhook, NY 12106. (A)
Rare Kirtland, Ohio $100
Important Historical Mormon Issue
:":4N1*
lerliTL-4.17) /4"PY .3 001479184
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.
,40114.41S1410"4)
0:173"
SILVER 1/01.1,11t4
itEnr.tmlwat (413n4.01,1!!
:241.1A•lat 1V,r•
tralle.C.ArSigft
q,u ■1141*.iatiom 11 , .111,liasi
■- vrIONt,/„, ,
IliAlph",4111.1W
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I I. N.)010:Ii1 Hs,
Paper Money Whole No. 179
Page 207
BOWERS AND MERENA
for the Best Prices on your Paper Money!
A
Actual currency lotfrom a recent Bowers and Merena auction sale.
Paper money has always been a
specialty at Bowers and Merena.
We offer:
• Unsurpassed descriptions
• Profuse illustrations
• Extensive publicity
• Wide-ranging expertise
We would be delighted to offer
single important notes and entire
collections.
Please call D. Richard A.
Bagg, our Director of Auctions,
at the toll-free number below.
There is no obligationjust 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
AIM Sr
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SUPERB
UNITED STATES CURRENCY
FOR SALE
SEND FOR FREE PRICE LIST
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
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.
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
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. 179 Page 209
WHY NOT?
WHY NOT A NEW RARITY SCALE THAT MORE ACCURATELY DENOTES TRUE RARITY?
EXAMPLE: Known 1 CIRC. NOTE and 1 UNCUT SHEET on a bank.
OLD Rarity Scale: 4*S
S was used for SHEET and it
could mean any number of them.
Sheets lumped in with single notes.
RARITY
10
9
8
7
6
5
4
3
2
1
FREE NATIONAL BANK NOTE SCALE
Send SASE for YOUR plasticized WALLET SIZE.
No return envelope or stamp needed with your comments, criticisms, or opinions.
1405 WEAVER ST. S.W.
CANTON, OH 44706
KEN McDANNEL SPMC 1836
NATIONAL BANK NOTE
RARITY SCALE
FEB. 28, 1995
NEW Rarity Scale: 10S*1
S now used for SMALL size
Use L for LARGE size
*3 alone means 3 SHEETS
0 notes
1, 2
3, 4
5, 6
7, 8, 9
10, 11, 12
13, 14, 15
16 to 20
21 to 35
36 to 50
over 50
NATIONAL BANK NOTES
IN MEMORY OF JOHN T. HICKMAN
JOHN HICKMAN WILL FOREVER BE REMEMBERED FOR HIS LOVE OF NATIONAL BANK NOTES.
He shared his wisdom of them freely and graciously. His mission in life was to immerse his
whole being in doing works and deeds that promoted nationals. John was a true scholar
and a true champion of changes for the good of the hobby.
John SHARED information with all of us. When I phoned John on June 9th, one of the things
we discussed was the failure by many who engage in the hobby in reporting their notes.
John told me "those who don't report are the first to be on my doorstep to find out rarities."
Report your notes and share knowledge with others as John has done. Participation has
long-term beneficial rewards that transcend short-term financial gain. The hobby DOES
need YOU to share information. You should do it for the good of the hobby. You can do it
in honor of John for his generosity. John earned and most certainly deserved the award
presented to him at Memphis recently.
JOHN HICKMAN WAS A LEGEND IN HIS OWN TIME FOR HIS VAST WORKS WITH NATIONALS.
John's first question to me was "why in the world didn't you start your crusade at least a year
sooner?" He might have considered using some of the changes in his 3rd edition, but it was
too late. He liked the idea of a star to denote unreported banks, but he preferred Rarity 7
for unreported notes and then his original scale of 6 down to 1.
Page 210
Paper Money Whole No. 179
ESTABLISHED COLLECTOR
SENDS SAMPLE WORK SHEET TO
SHOW HOW HE IS USING THE NEW RARITY SCALE FOR HIS COLLECTION.
This is the FIRST REPORTED USE by a collector of the NEW RARITY SCALE.
HE IS ENJOYING IT. WHY NOT YOU TOO?
Albert F. Kaminsky, Jr.
7461 Brighouse Court
Alexandria, VA 22315-3835
McDannel
Rarity
H&O
Rarity Census
Interest/Want List (703) 922.5354 L S LS L S
Athens (Bradford)
The First National Bank of Athens 1094 10L 6 — 2
8442,900/52,718-1910
The Farmers National Bank of Athens 4915 8L 7S 4 4 6 7
51,597,310/873,150/83,870-1935
The Athens National Bank 5202 8L 8S 4 6 6 6
$1,231,970/$49,200/$2,420-1935
Blossburg (Tioga)
The Miners National Bank of Blossburg 5007 9L 5 — 4 ■••
8814,350/849,000-1929
The Citizens National Bank and Trust 13381 7S — 4 — 7
Company of Blossburg
$514,200/8125,000-1935
Canton (Bradford)
The First National Bank of Canton 2505 7L 8S 4 5 8 5
$2,218,900/8144,500/$5,880-1935
The Farmers National Bank of Canton 9317 9L 10S 5 6 4 2
8874,720/539,920/53,360-1932
Carbondale (Lackawanna)
The First National Bank of Carbondale 664 9L 9S 5 5 4 4
$4,344,490/S146,750/$11,760-1935
Clarks Summit (Lackawanna)
The Abington National Bank of 10383 10L 8S 6 5 1 5
Clarks Summit
$694,130/548,800/51,320-1935
Dickson City (Lackawanna)
The Dickson City National Bank 9851 9L 9S 5 5 3 3
8992,290/844,400/82,340-1934
The Liberty National Bank of 12459 10L 10S 6 6 1 1
Dickson City
$254,360/$24,160/8640-1932
Just wanted to show you how I'm using your Rarity Scale.
JUNE 19, 1995 Sincerely, AL KAMINSKY
Paper Money Whole No. 179 Page 211
NATIONAL BANK NOTES
The 2 Sets OHIO SMALL and the TYPE SET OHIO LARGE have been SOLD.
The 13000 CHARTER SET is the ONLY COMPLETE 29 NOTE SET IN EXISTENCE.
CENSUS
NEW
RARITY
13150 JEWETT 10Ty2 A000222 X.F. 5 SINGLE SMALL NOTES 8
13154 CALDWELL 10Ty1 0000743A X.F. 7 SINGLE SMALL NOTES 7
13171 SMITHFIELD 20Ty1 C000119A X.F. 5 SINGLE Best of 3 20Ty1 8
13198 WEST UNION 20Ty 1 C000069A V.F. 6 SINGLE One of 20Ty1 8
13273 CRESTLINE 10Ty2 A000147 X.F. 10 SINGLE One of 2 10Ty2 6
13318 PAINESVILLE 20Ty2 A000677 X.F. 8 SINGLE The only 20Ty2 7
13457 DEFIANCE 10Ty1 C000248A X.F. 11 SINGLE SMALL NOTES 6
13490 WASH. CT. HOUSE 20Ty2 A000057 V.F. 28 SINGLE The only 20Ty2 3
13535 DELAWARE 20Ty1 A000069A V,F. 6 SINGLE Best of 3 20Ty1 8
13569 CHARDON 10Ty1 E000022A V,F. 3 SINGLE The only 10Ty1 9
13586 YOUNGSTOWN 20Ty2 A007587 X.F. 27 SINGLE One of 4 20Ty2 3
13596 NEW LEXINGTON 10Ty2 A001891 X.F. 10 SINGLE One of 2 10Ty2 6
13715 LAKEWOOD 20Ty2 A002580 X.F. 9 SINGLE Best of 5 20Ty2 7
13740 BRYAN 10Ty2 A006350 V.F. 5 SINGLE Best of 5 10Ty2 8
13742 ORRVILLE 5Ty2 A001194 Fine 2 SINGLE SMALL NOTES 10
13767 LIMA 10Ty2 A001325 X.F. 5 SINGLE Best of 3 10Ty2 8
13774 CLEVES 10Ty2 A001590 V.F. 5 SINGLE Best of 4 10Ty2 8
13802 DENNISON 10Ty2 A001110 X,F, 4 SINGLE SMALL NOTES 9
13832 PORTSMOUTH 20Ty2 A001110 V.F. 10 SINGLE SMALL NOTES 6
13844 CALDWELL 20Ty2 A000331 4 SINGLE SMALL NOTES 9
13850 EAST PALESTINE 20Ty2 A000428 V.F. 4 SINGLE The only 20Ty2 9
13883 CARROLLTON 5Ty2 A000485 X.F. 4 SINGLE The only 5Ty2 9
13899 BRYAN 5Ty2 A008959 X.F. 5 SINGLE SMALL NOTES 8
13905 CAMBRIDGE 20Ty2 A000093 X.F. 1 SINGLE SMALL NOTE 10
13912 MONTPELIER 20Ty2 A000426 V.F. 7 SINGLE Best of 2 20Ty2 7
13914 BELLAIRE 20Ty2 A001434 X.F. 4 SINGLE Best of 2 20Ty2 9
13922 ST. CLAIRSVILLE 5Ty2 A000077 X.F. 1 SINGLE SMALL NOTE 10
13971 MARIETTA 10Ty2 A001251 Fine 5 SINGLE SMALL NOTES 8
13996 BELLAIRE 10Ty2 A000024 X.F. 3 SINGLE Best of 2 10Ty2 9
14011 DILLONVALE 20Ty2 A000156 A.U. 2 SINGLE 1 20 and 1 10 10
14030 TOLEDO 20Ty2 A001911 V,F. 8 SINGLE SMALL NOTES 7
14050 BRIDGEPORT 10Ty2 A002278 Fine 2 SINGLE 1 10 and 1 20 10
14077 BRADFORD 10Ty2 A001866 V.F. 6 SINGLE Best of all 6 8
14105 SPRINGFIELD 5Ty2 A001289 V.F. 8 SINGLE One of 2 5Ty2 7
14183 MINGO JUNCTION 10Ty2 A000740 V.F. 3 SINGLE Best of 2 10Ty2 9
14232 PAINESVILLE 10Ty2 A001808 V.F. 6 SINGLE One of 3 10Ty2 8
14261 BETHESDA 10Ty2 A000718 Fine 2 SINGLE 1 10 and 1 5 10
2181 THURMAN ORIG 2 795 E16624 Fine 5 SINGLE 1 LAZY TWO 8
1904 PLYMOUTH 1875 1 989 A518673 Fine 4 SINGLE 1 of 2 1.00 9
1929 SHELBY 82BB 5 1636 A590571A Fine 8 SINGLE LARGE NOTES 7
6016 ADENA 82DB 20 159 A705671 V.F. 4 SINGLE Only 1 82DB 9
5640 FREDERICKTOWN 82VB 10 1054 U289342 V.F. 4 SINGLE Only 1 82VB 9
7790 ROCK CREEK 02RS 10 293 H437718 V.G. 2 SINGLE 1 10 02RS 10
1989 QUAKER CITY 02DB 10 1320 H366505A X.F. 11 SINGLE Only 1 02DB 6
7896 SPRING VALLEY 02PB 10 1291 M341418E Fine 1 SINGLE LARGE NOTE 10
KEN McDANNEL SPMC 1836 1405 WEAVER ST. S.W. CANTON, OH 44706
Page 212
Paper Money Whole No. 179
•
KILU INC
P.O. BOX 84 • NANUET, N.Y 10954
OBSOLETE CURRENCY, NATIONALS, U.S.
TYPE, UNCUT SHEETS, PROOFS, SCRIP.
Periodic Price Lists available: Obsoletes
($3 applicable to order), Nationals, & U.S. Large &
Small Size Type.
BUYING / SELLING:
BOOKS ON PAPER MONEY
Arkansas Obsolete Notes & Script, Rothert $22 Territorials—US Territorial National Bank Notes, Huntoon $20
Florida, Cassidy (Ind natls & obsolete) $29 Vermont Obsolete Notes & Scrip, Coulter $20
Indiana Obsolete Notes & Scrip, Wolka $22 National Bank Notes, Hickman & Oakes 2nd ed $95
Indian Territory/Oklahoma/Kansas Obsolete Notes & Scrip,
Burgett and Whitfield $20
US Obsolete Bank Notes 1782-1866, Haxby 4 vol
Early Paper Money of America, 3rd ed., Newman
$195
$49
Iowa Obsolete Notes & Scrip, Oakes $20 Depression Scrip of the US 1930s $27
Minnesota Obsolete Notes & Scrip, Rockholt $20 World Paper Money 6th ed., general issues
$49
Pennsylvania Obsolete Notes & Scrip, Hoober
$35 World Paper Money 6th ed., specialized issues $55
North Carolina Obsolete Notes, Pennell rpm.
$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
,,,,,a i4,,, EARLY
AMERICAN
NUMISMATICS
,:t.--'• *619-273-3566
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CONTINENTAL
CURRENCY
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BARRY WEXLER, Pres. Member: SPMC, PCDA, ANA, FUN, GENA, ASCC
(914) 352.9077
Paper Money Whole No. 179
Page 213
e
W.f.& Pt*
7 ("///7/ ./ '?' 7e%-
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
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
OINig ItUNDHE D DOTLARS
"A Distinguished Member of the Humane Society'
7t6
ABOUT
VIGNETTES
by Roger H. Durand
Many of the great works of art were named by the artists who
created them or the people who commissioned them. Several
vignettes that were used on Obsolete Bank Notes & scrip were
also named by the engravers who created them. In fact, several
vignettes were taken from the paintings of artists such as Sir
Edwin Landseer, P.O.C. Darley, and many others equally as fa-
mous. This book records and illustrates the named engravers
that appear on notes and scrip, the engravers & the artist who
painted the original painting when known. A refund if you are
not satisfied for any reason.
$22.95 pp
Order from your favorite dealer or front the author:
P.O. Box 186
ROGER H. DURAND Rehoboth, MA 02769
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
Page 214 Paper Money Whole No. 179
MYLAR D CURRENCY HOLDERS
PRICED AS FOLLOWS
BANKNOTE AND CHECK HOLDERS
SIZE INCHES 50 100 500 1000
Fractional 43/4 x 23/4 $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 6 5/8x 2 7/8 17.75 34.00 152.00 285.00
Large Currency 7 7/8x 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 95/8 x 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 D. 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
Page 215
Paper Money Whole No. 179
BUYING and SELLING
CSA and Obsolete Notes
CSA Bonds, Stocks &
Financial Items
Extensive Catalog for $3.00,
Refundable With Order
ANA-LM
SC NA
PCDA
HUGH SHULL
P.O. Box 712, Leesville, SC 29070 / (803) 532-6747
FAX 803-532-1182
SPMC-LM
BRNA
FUN
BUYING
AND SELLING
Obsolete-Confederate
STOCKS & BONDS
Continental-Colonial
Large Price List
19th Century Stocks-Bonds
Over 200 Different
Small or Large Collections Mostly 19th Century
Send List or Ship (305) 853-0105
Railroads, Mining, etc.
SPMC
Richard T. Hoober, Jr. P.O. Box 3116, Key Largo, FL 33037
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
LIfe Member hail.
Life Member ANA 639
Buying & Selling
National Bank Notes, Uncut Sheets, Proofs,
No. 1 Notes, Gold Certificates, Large-Size
Type Error Notes, Star Notes.
Commercial Coin Co.
PO. Box 607
Camp Hill, PA 17001
Phone 717-737-8981
11,1111.11SIMSCIII:MISLUELL'
MiglitATO.31AMOIMMAW
67431
,orb,1111Cnitzm
•
67431S.1er
1.11107. AZ'
e.) ..".Tr'■■41...11-4•1117
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
Million Dollar
Buying Spree
Currency:
Nationals
MPC
Lg. & Sm. Type
Obsolete
Stocks • Bonds • Checks • Coins
Stamps • Gold • Silver
Platinum • Antique Watches
Political Items • Postcards
Baseball Cards • Masonic Items
Hummels • Doultons
Nearly Everything Collectible
Fractional
Foreign
399 S. State Street - Westerville, OH 43081
1-614-882-3937
1-800-848-3966 outside Ohio
8.4 1/45- )
EST 1960
" 101491144SiiitO1"
SEND
FOR
OUR
COMPLETE
PRICE
LIST
FREE
COIN
SHOP
INC
THE CAMP HILL
NATIONAL BANK
O CAMP HILLCO PENNSYLVANIA
1
•
;;;;;Ii.:;;;;5: '
F000126A
N.ALTMN 11.
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
CONTINENTAL — COLONIAL
CURRENCY
AND RELATED ITEMS
Priced for the Collector
Send for Free Price List
Always Buying
RICHARD T. HOOBER, JR.
P.O. Box 3116, Key Largo, FL 33037
Phone (305) 853-0105 SPMC
Page 216 Paper Money Whole No. 179
Illllii!!,I
WE ARE ALWAYS
BUYING
■ FRACTIONAL CURRENCY
■ ENCASED POSTAGE
■ LARGE SIZE CURRENCY
■ COLONIAL CURRENCY
WRITE, CALL OR SHIP:
•
II
'W) `TO /IN re "1
CURRIE
LEN and JEAN GLAZER
(718) 268-3221
POST OFFICE BOX 111
FOREST HILLS, N.Y. 11375
I'l--', Sl X11. -
-- - • - - v 1, I. '
..t1„.. 1'.\ Ph. ii )N1("F.1
, ( ot .11.cl-oils
ri im•
„I .,,,,,.ahn€12:-:
Charter Member
'41111ba'r,,HStandard Guild...
APERNICNEr
By 0.13t °dm
SMALL-
SIZED
Wisconsin
Obsolete Bank Notes
and Scrip
wry
700 E. State Street • Iola, WI 54990-0001
GET ItIGITIT ON THE MONEY WITH
standard cm.tog of
seventh etiamn
WORLD PAPER MONEY
general K., vo,t,■•••=. two
• 250 ■••,
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.
Please print clearly
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lee
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(payable to Krause Publications)
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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
Shipping and Handling*
Subtotal
WI residents add 5.5% sales tax
Total Enclosed
`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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