Paper Money - Vol. XXXVIII, No. 3 - Whole No. 201 - May - June 1999

Official Journal of the Society of Paper Money Collectors VOL. XXXVIII, No. 3 MAY/ JUNE 1999 WHOLE No. 201 ,`411686.11) gat. etvSECLICED 11V1PVITED ST.111ES BO DS OR (mum SIN litITIES vro B490825B ..4111:S0,1002. A Z.e E 4:41.2.4-411.r.w.v.144-1444.4.4441.uwjimm 557-11.,( atizoto5:6630mgleam INSIDE THIS ISSUE: Kate Gleason, National Bank President ... Will You Do What Most Experienced Collectors Have Done When It's Time To Sell? You've enjoyed collecting paper money for years, and now you are seriously thinking about selling. You could grade, price and describe each item yourself, and publish costly newspaper ads. You could write your own fixed price list or catalogue, and mail it out to thousands of collectors. You might even attempt to accurately price each piece, and offer it wholesale to dealers, or you could do what most experienced collectors and dealers have done when faced with this difficult decision - consign your collection to an auction. Once you decide to sell at auction, you need to select the right auction company. While many factors should be taken into consideration, one question should always be ask - "where and when will my material be auctioned?". At R. M. Smythe and Company, we think there is only one correct answer - great collections of paper money should be auctioned at important paper money shows. If your collection was in our June 1998 Memphis International Paper Money Show Auction, or our September 1998 Strasburg Paper Money Show Auction, or our October 1997 St. Louis Paper Money Show Auction it might have been personally viewed by hundreds of the world's top paper money collectors and dealers. It would have been bid on by hundreds more through the mail. Just how many people do you think will see your notes if they're sold at an ordinary coin show? There are many other good reasons to consign to Smythe. We have a full-time staff of recognized experts in paper (Dr. Douglas B. Ball, Martin Gengerke, Kevin Foley, Stephen Goldsmith and Caleb Esterline). We care about our bidders and consignors, so we won't sell your lots at 3 AM in the morning, or during convention hours when dealers need to be at their tables. We'll illustrate every major item, using boxes or color to highlight your material where appropriate. On Federal note consignments we won't charge you for lotting, or photos, and our commission rates are flexible and highly competi- tive. Immediate cash advances are available, and no one pays faster than R. M. Smythe & Company. Why do leading collectors and dealers choose us? They know there are simply no substitutes for years of experience, thorough, professional research, world-class auction catalogues and unquestioned integrity. Take advantage of the hottest paper money market in years, and take advantage of our comprehensive schedule that includes America's best paper money shows. We are accepting consignments NOW for the following auctions: August 26-29, 1999. Coins. The Blue Ridge Show. Dalton, Georgia. Accepting consignments now. September 16-19, 1999. Currency, Stocks and Bonds. The Fourth Annual Strasburg Paper Money Show. Strasburg, Pennsylvania. Accepting consignments through August 25, 1999. October 1999. Currency, Stocks and Bonds. The St. Louis National and World Paper Money Convention. St. Louis, Missouri. Autumn 1999. Autographs. New York City. Accepting consignments now. NOW YOU CAN CONTACT ALL OF OUR SPECIALISTS TOLL FREE! Call Stephen Goldsmith, Douglas Ball, Martin Gengerke at 800-622-1880 or Kevin Foley at 877-270-1727. To check on the status of your subscription, ask for Marie Alberti. See Us At Over 40 Shows In 1999! We are planning to attend almost every major numismatic event. .LICIETY OF PAPER MONEY COLLECTORS INC. MP:61bl .4ülegbot. steptiwn Goldsmitt MEMJJEK Kevin Foley members 26 Broadway, Suite 271, New York, NY 10004-1701 • e-mail: info@rm-smythe.com Toll Free: 800-622-1880 • NYS: 212-943-1880 • Fax: 212-908-4047 • www.rm-smythe.com PAPER MONEY • May/June 1999 • Whole No. 201 65 PAPER MONEY is published every other month beginning in January by the Society of Paper Money Collectors (SPMC). Second-class postage is paid at Dover, DE 19901. Postmaster send address changes to Secretary Fred L. Reed Ill, P.O. Box 793941, Dallas, TX 75379-3941. © Society of Paper Money Collectors, Inc., 1999. All rights reserved. Reproduction of any article, in whole or in part, without express written permis- sion, is prohibited. Individual copies of this issue of PAPER MONEY are available from the Secretary for $2.75 each plus $1 postage. Five or more copies will be sent postpaid. Send changes of address, inquiries concerning non-delivery of PAPER MONEY and requests for additional copies of this issue to the Secretary. MANUSCRIPTS Manuscripts not under consideration elsewhere and publications for review should be sent to the Editor. Accepted manuscripts will be published as soon as possible; however, publication in a spe- cific issue cannot be guaranteed. Opinions expressed by authors do not necessarily reflect those of the SPMC. Manuscripts should be typed (one side of paper only), double-spaced with at least 1-inch mar- gins. The author's name, address and telephone number should appear on the first page. Authors should retain a copy for their records. Authors are encouraged to submit a copy on a 3'/2-inch MAC or DOS disk, identified with the name and ver- sion of software used. A double-spaced printout must accompany the disk. ADVERTISING All advertising copy and correspondence should be sent to the Editor. 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Advertising copy shall be restricted to paper cur- rency and allied numismatic material and publi- cations, and related accessories. The SPMC does not guarantee advertisements, but accepts copy in good faith, reserving the right to reject objec- tionable material or edit copy. The SPMC assumes no financial responsibility for typographical errors in advertisements, but agrees to reprint that portion of an advertisement in which a typographical error should occur upon prompt notification of such error. Paper Money Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XXXVIII, No. 3 Whole No. 201 MAY/JUNE 1999 ISSN 0031-1162 MARILYN REBACK, Editor, P.O. Box 1110, Monument, CO 801 32 IN THIS ISSUE FEATURES Kate Gleason, National Bank President 67 by Karl S. Kabelac Some Women Who Made a Difference 71 by Gene Hessler The Ethnic National Banks 74 by Charles A Dean About Texas Mostly 78 by Frank Clark Bank Happenings 80 submitted by Bob Cochran The Buck Starts Here 82 by Gene Hessler The Green Goods Game 83 conducted by Forrest Daniel The Paper Column 85 by Peter Huntoon SOCIETY NEWS Information & Officers 66 The President's Column 88 by Bob Cochran SPMC News 89 New Members 93 Money Mart 94 Advertisers 96 ON THE COVER Raised in a prominent family, Kate Gleason made news as she took over the presidency of the First National Bank of East Rochester, New York (page 67). 66 May/June 1999 • Whole No. 201 • PAPER MONEY Society of Paper Money Collectors The Society of Paper Money Collectors (SPMC) was organized in 1961 and incorporated in 1964 as a non-profit organization under the laws of the District of Columbia. It is affiliated with the American Numismatic Association. The annual SPMC meeting is held in June at the Memphis IPMS (International Paper Money Show). MEMBERSHIP—REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral charac- ter. Members of the ANA or other recognized numis- matic societies are eligible for membership; other applicants should be sponsored by an SPMC member or provide suitable references MEMBERSHIP—JUNIOR. Applicants for Junior mem- bership must be from 12 to 18 years of age and of good moral character. Their application must be signed by a parent or guardian. Junior membership numbers will be preceded by the letter "j," which will be removed upon notification to the secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or vote. DUES—Annual dues are $24. Members in Canada and Mexico should add $5 to cover postage; mem- bers throughout the rest of the world add $10. Life membership—payable in installments within one year—is $500, $600 for Canada and Mexico, and $700 elsewhere. Members who join the Society prior to October 1 receive the magazines already issued in the year in which they join. Members who join after October 1 will have their dues paid through December of the following year; they also receive, as a bonus, a copy of the magazine issued in November of the year in which they joined. v OFFICERS PRESIDENT Robert Cochran, P.O. Box 1085, Florissant, MO 63031 VICE-PRESIDENT Frank Clark, P.O. Box 117060, Carrollton, TX 75011 SECRETARY Fred L. Reed III, P.O. Box 793941, Dallas, TX 75379-3941 TREASURER Mark Anderson, 335 Court St., Brooklyn, NY 11231 APPOI NTEES: EDITOR Marilyn Reback, P.O. Box 1110, Monument, CO 80132 CONTRIBUTING EDITOR Gene Hessler MEMBERSHIP DIRECTOR Frank Clark, P.O. Box 117060, Carrollton, TX 75011 WISMER BOOK PROJECT Steven K. Whitfield, 14092 W. 115th St., Olathe, KS 66062 LEGAL COUNSEL Robert J. Galiette, 3 Teal Ln., Essex, CT 06246 LIBRARIAN Roger H. Durand, P.O. Box 186, Rehoboth, MA 02769 PAST PRESIDENT Dean Oakes, Drawer 1456, Iowa City, IA 52240 1929-1935 OVERPRINTED NATIONAL CURRENCY PROJECT Robert Cochran, P.O. Box 1085, Florissant, MO 63031 BOARD OF GOVERNORS: C. John Ferreri, P.O. Box 33, Storrs, CT 06268 Milton R. Friedberg, 8803 Brecksville Rd. #7-203, Brecksville, OH 44141-1933 Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231 Ron Horstman, 5010 Timber Ln., Gerald, MO 63037 Judith Murphy, P.O. Box 24056, Winston-Salem, NC 27114 Stephen Taylor, 70 West View Ave., Dover, DE 19901 Steven K. Whitfield, 14092 W. 115th St., Olathe, KS 66062 Wendell W. Wolka, P.O. Box 569, Dublin, OH 43017 BUYING AND SELLING CSA and Obsolete Notes CSA Bonds, Stocks & Financial Items 60-Page Catalog for $5.00 Refundable with Order ANA-LM SCNA PCDA CHARTER MBR HUGH SHULL P.O. Box 761, Camden, SC 29020 (803) 432-8500 FAX (803) 432-9958 SPMC LM 6 BRNA FUN PAPER MONEY • May/June 1999 • Whole No. 201 67 Kate Gleason, National Bank President BY KARL S. KABELAC 44 , WAS NO GREAT SHAKES AS A BANK PRESIDENT. The factI that the bank was more prosperous when I resigned than when I was made president was due mainly to circumstances." So said .,,... Kate Gleason of her presidency—from 1918 to 1920— of the First National Bank of East Rochester, New York. She had always believed she was the first woman to be president of a National Bank, adding another first to her remarkable career, but we now know several women pre- ceded her. But she may have been the first woman National Bank president without previous family ties to the bank. Born in Rochester, New York, on November 24, 1865, Kate Gleason was the oldest of four children of William and Ellen (McDermot) Gleason. When she was 11, her older half brother, who had helped her father in his small tool- making shop, died, and Kate began helping out as a bookkeeper. In 1884 and again in 1888, she attended Cornell University, where she was the first woman to take engineering courses, but each time family needs forced her to leave before the school year was completed. Back in Rochester, she began to take a more active part in her father's business, the Gleason Works, and from 1890 to 1913 served as secretary of the company, traveling frequently in both the United States and Europe as its sales representative. This role required a thorough knowledge of the industry and the technical aspects of the machinery she was selling. Years later, in her entry in Who's Who in America, she listed her occupation as mechanical engineer and credited her father as her primary teacher. With the development of the automobile, the gear-cut- ting machinery her father had developed years earlier found new and growing markets. Henry Ford, a customer of the Gleason Works, is said to have incorrectly credited her with its invention, thereby extending her fame in a very male-dominated field. In 1914 she was the first woman elected to the American Society of Mechanical Engineers, and in 1916 she became the first woman member of the Rochester Engineering Society and an early woman mem- ber of the Rochester Chamber of Commerce. Her two younger brothers also were active in the family business, and in 1913 management disagreements caused her to leave the company. Seeking other outlets for her tal- ents, she became the receiver for a bankrupt machine-tool company in Rochester and was able to reverse its misfor- tunes and soon return it to profitability. She then became involved in several business ventures in the village of East Rochester, which was a mile or two from her suburban Rochester home. One of the businesses produced trailers Kate Gleason, circa 1918. NEW YORK BANKS. ""'""IVI1r$°: 162 hint& IllaTrF.::41 -Ir-1.41"aNt mg! T4rs!";"1'2; 0ig::41 A,"sn, tivpnlr.nt ,!!11!);,1,z (trust Eompanv %P.". MN SAM'S A GENE NAL WRING NOISINESS SPECIAL ATTENTION 610014 TO COL LECTIONS ON EAST AURORA 0140 VICINITY ,4:'"";:ilt,'„::% 1.4 •tt lizep00, 100141t.,'" Ar ;`-",::itei;--clamt; ,•;11oor .v. F 7771 Yze.; ML • " 1164" N BUFFALO—THE "M. & T." NATIONAL 68 May/June 1999 • Whole No. 201 • PAPER MONEY sEpTE -MITE1-1 11319, PAGE 1210 11.).111; Dire,rtw-, , 17, 1 3S7 Accessible To,vns, I. 1401 • 3. Bank Attorneys, p. 1 41 I• _ FFICES .-_-__ -I-State oPmvate Estabi ! '. East Itc.chester. ...... First National Dan LS .... ....1U,12'$1 , K , i . _.:: ?.5.000 Loans S D15.... .72.1.100, Hanover National 12-an1.:. N. Y s ,,, e G l„.,.,,,, Pres' capital Monro 50:06 Nrcd)1'_; - i- .4ncre s-r A11“ ',, .-c , H. --. Bo , n.... V. P 'Sur S. Prof. 16.000 U. S. Doncis. 1;6 WU' Merchant Iir,,It., 13.o.,ne,..•.e, 11 Pop. 4100 04 Last Ssie $:r,t) An'l Di , tV,,.. P. Pragur:11... ..... Cash. Carr warn 7.000, Stzte &M Bits. n 000 rratit'rs nt. 'as . 1"'-'ch ,,,,, Inelly Dep 629.00' Dee In El'I.c.$ . ... 66.1.7:it• State Dep 1,000, Cast. on hand... :11116.16 rIther Res .'.6.1.67.1 O E LI.AB7.1TH..-.$ Re$orucl:s 00 RI:E. PoN DENT: FORM COPYRIGHTED. Interest El Grace not allowed. NEW YORK BANKS A1. eue:•TY BANG An entry in Polk's Bankers Encyclopedia, September 1919, lists Kate Gleason as bank president. At this time, there were 7,905 National Banks in the United States. to be attached to cars for hauling or camping. Another was construction of a development of 100 low-cost, poured-concrete houses. This interest in concrete led her to become the first woman member of the American Concrete Institute. The housing tract exists in the village to this day. East Rochester was founded in the 1890s, and by 1910 it had a population of nearly 2,500. As a grow- ing community, it needed a bank. The First National Bank of East Rochester was chartered in late 1911 (charter number 10141) and opened early in 1912. In 1918 its first president left to assist in the war effort with the YMCA in France, and Miss Gleason, as an active local business person, was unanimously elected his successor by the board of directors. The war and immediate postwar period brought the bank prosperity, but as we have heard, Miss Gleason felt she could not take credit for it. On January 23, 1920, she resigned the bank pres- idency to devote herself to her other interests. During the 1920s, she continued her interest in low- cost housing, as she planned communities in the Sea Island region of Beaufort, South Carolina, and the San Francisco, California, area. The former, to be developed as an artists' and writers' colony, was underway at the time of her death, while the latter was abandoned when the State of California took over some of the land for other purposes. Toward the end of her life, Miss Gleason main- tamed three homes, one in suburban Rochester, one in Beaufort, and one at Septmonts near Soissons, France. She had come north to Rochester from Beaufort for the Christmas holidays in 1932 and, contracting pneumonia early in the new year, died in Rochester on January 9, 1933. The obituary in the Rochester Democrat and Chronicle noted she was a "philanthropist and pioneer woman engineer and industrialist" who was "dynamic, tireless and with an enthusiasm which ever renewed itself." Her will, probated later that Depression year, left $1.4 million to a long list of charitable organizations and friends. The First National Bank of East Rochester prospered during the 1920s under its third president, Andrew H. Bown, an East Rochester businessman and former bank vice president. It did not, however, survive the Depression, closing in 1934. Bown always considered it would have survived but for outside regulators who were too quick to close the village's bank. Headquartered in Rochester, the Gleason Works continues to be a world May/June 1999 • Whole No. 201 • PAPER MONEY SEILIUltED LTV ' UNITED STATES BONDS OU OTHER. SECURITIES r'; 5 0 LI4ji 7.) B490825B S1.11'. Itmlx. 69 4144.W.1444,0444441..W.i.la it41,441 WAG iMifirOkTIIS 4)7 Xitif/4,4/ t"e1 _lit,: Olf 1 11 11111:1111 1111'LLOCIII 557-i* ra Yer‘ Ye • wizi„. .1° TWENTY Miss Kate Gleason Chosen President Of National Bank 1C:It• Gleason, loanliC;Icturpr and 11% . ,.:. loper of MISS GLEASON PRESIDENT OF EAST ,ROCHESTER BANK inti n s t rie , and ho mes est 1 , :*. « rt iin:;nintnlisl Believ'ed First Woman in Country to Be Named for Place of Its Kind. business iroechkalcalASTROCHESTEklig FIRSt elmr• sr tF WOMEN BASKTRES • Bank of Ittititution Unatilmoits Chisket . °fi, MlisTrate4leason TeSitithedliarriaW,ger, Wke,,Coes , to:Frarree To Engage in Y. M. --- War W'o'rk; Bailt Up Prdiperaus SubuitCfriiii Mere Harriet. sal bank the out. built for cs and It that sh • 1th town's possibilities. Sheix now devoting all of her lilac to one of her et Roch- ester interests, the tirailormm, which she considers ns great a improcti merit on the 100 0 In u. till, 11111 while is 2(1.9S KATE GLEASON. rhahleal engineering department of Cor- nell' University. In. 1914 the American Societe of Nforlionlool l'noinoorc With the leaving of Ilarry C. Eye, or this week for o Nuns, the areal• business acute, of the Scatter that has come to the trent as fast recent yearn. • ',sr imminwoompownowst • e f A, .G1tasoo ,Elekted;,Prigdeqt. of Nitlooll Bink--Retirtoc, to . G. toFriace for Y.A. With her iec-eni election :stha_ Kate Gleason gave the first $20 National Bank note she signed to her friend, suffragist leader, Dr. Anna Howard Shaw, who kept it in the little leather "Votes for Women" case and called it her "Good Luck Pocket Piece." Newspaper clippings tell the story of Kate Gleason's selection as president of the First National Bank of East Rochester, New York. "ey — - • Famed suffragist and fellow Rochester resident Susan B. Anthony was a long-time friend of the Gleason family. Anthony's inscription to Kate Gleason in the first volume of History of Women Suffrage, which she presented her in 1903: Kate Gleason, — the ideal business woman of whom I dreamed fifty years ago — a worthy daughter of a noble father. May there be many such in the years to come is the wish of Yours affectionately Susan B. Anthony Dec. 2. 1903. Rochester. N. Y. May/June 1999 • Whole No. 201 • PAPER MONEY70 leader in the production of gear-making machinery, with other factories in England, Germany and India. The company is listed on the New York Stock Exchange, and the current chief executive officer, James Gleason, is Kate's grandnephew. Kate Gleason's presence continues in the Roch- ester area. The Rochester Public Library was one of the beneficiaries of her estate, and today its audito- rium is named in her honor. For nearly a century, Kate and other members of the Gleason family have been active in the governance of the Rochester Institute of Technology (RIT). In 1947 a women's dormitory was named in her honor, and in 1998 the Gleason Foundation, founded by family members and today Rochester's largest philanthropic founda- tion, gave RIT $10 million in Kate Gleason's name to upgrade engineering facilities and expand engi- neering educational opportunities, especially for women students. In recognition of this gift, the engineering division recently was named the Kate Gleason College of Engineering. Sources and Acknowledgments BIOGRAPHICAL SKETCHES OF KATE GLEASON are found in Who Was Who in America (1943), Dictionary of American Biography, First Supplement (1944) and Notable American Women (1971). Other useful sources include an article by Helen C. Bennett in the October 1928 issue of The American Magazine (from which the opening quote of this article comes); accounts of her election to the bank presidency in each of the four Rochester daily English-language newspapers, August 18 or 19, 1918, and her obituary from the Rochester Democrat and Chronicle of January 10, 1893. Bown's typescript analysis of the financial situation of the bank at its closing is found in the Fellows Papers, Box 1, Folder 12 in the Department of Rare Books and Special Collections, Rush Rhees Library, University of Rochester. The photograph of the National Bank note and its leather holder is courtesy of the Lavery Library, St. John Fisher College, Rochester. The photograph of Kate Gleason and the inscription by Susan B. Anthony are courtesy of Jan Gleason of Rochester, whose help with this article is grate- fully acknowledged. v Karl S. Kabelac recently retired after 30 years as a librarian with the Department of Rare Books and Special Collections, Rush Rhees Library, University of Rochester (New York). A Danish 200 kroner shows actress Johanne Louise Heiberg. PAPER MONEY • May/June 1999 • Whole No. 201 71 Some W men Who ade a Difference BY GENE HESSLER ONTINUED FROM THE LAST ISSUE IS A SURVEY OF WOMEN whose achievements have been recognized by having their likeness- es portrayed on paper money. Part I highlighted artists; Part II con- tinues with an actress and a scientist. PART II: ACTRESS Johanne Louise Heiberg MANY EXPERTS CONSIDER JOHANNE LOUISE HEIBERG DENMARK'S greatest actress. Born Johanne Luis Patges in Copenhagen on November 22, 1812 , both of her parents were Germans from Cologne. Her tyrannical father operated a tavern where, against her mother's wishes, he often had Johanne and her sister dance on the tables. At the age of 8, Johanne entered ballet school. Jonas Collin, director at the Royal Theatre, befriended her and arranged for her to live with actress Mme. Anna Wexchall. There the young Johanne came alive and knew she was des- tined to devote her life to the theatre. Johanne married a playwright, Johan Ludwig Heiberg, many years her senior. (Heiberg's mother was author Thomasine Gyllembourg Heiberg, whose image is found on a Danish 1,000-kroner note (P53).) Johanne's career coincided with the blossoming of Danish literature; however, because of poli- tics at the Royal Theatre, she and her husband fell out of favor during the 72 May/June 1999 • Whole No. 201 • PAPER MONEY The design of this 1994 French 500-franc note (P 92) was created by computer-imaging. Pierre and Marie Curie received Nobel Prizes, however, on the note Pierre is placed in the secondary position. The face and back of the note carry symbols for atoms and chemistry. Seven Years' War (1849-56). Her reputation and ability as an actress proved stronger. When she returned to the stage after an illness, she was met with wild enthusiasm. Admirers sent flowers to her home and the theatre; she was followed in the streets; and women copied her dress and hair style. Notwithstanding, Johanne remained sincere and humble. Her last appearance was on June 2, 1864, in her husband's play Elver')di. Three years later, Johanne returned to the Royal Theatre as an instructor, the first women to hold that position. Johanne Louise Heiberg died in Copenhagen on December 21, 1890. SCIENTIST Marie Curie THE SPARTAN, REGIMENTED LIFE OF MARIE SKLODOWSKA CURIE (1867-1934) makes an ideal story for a movie script, and this actually has been done. Before she died on July 4, 1934, Marie Sklodowska defied every tradition that kept women from achieving success and recognition. When she left her humble home and went to Paris to study, she changed her name to Marie from Marya, the name she was given at her baptism in Warsaw, where she was born on November 7, 1867. Marya was a precocious child, the brightest student in her class. She graduated first in every subject. After she enrolled at the University of Paris in 1891, she may have adopted French ways, but she remained loyal to Polish nationalism. Three years later, she met Pierre Curie, an important physicist. They were married, without rings, in 1895. When her first child, Irene, was born two years later, Marie Curie was one of two women in Europe who were studying for a doctorate. In 1898 Pierre discontinued his work research to join his wife in her research; they shared work in physics and chemistry. Marie's discovery of radi- um brought her a Nobel Prize in Physics in 1903. The years Marie and Pierre spent in their crude, inadequate laboratory affected their health. They both were subjected to radon gas and often went to their laboratory at night to watch the glowing test tubes as children watch fireflies. When Pierre Curie died in 1910, the hideous effects of radioactivity still were unknown. In 1906 Marie Curie accepted a position at the Sorbonne; she was the first woman to teach at this school in its 650-year history. In public, Marie PAPER MONEY • May/June 1999 • Whole No. 201 73 Marie Sklodowska Cure is portrayed on a Polish 20,000 zlotych (P 152). The back shows a nuclear reactor. appeared cold and insensitive to most. However, she had a sensitive and caring side, which she often committed to paper. Marie opened 200 X-ray units in France during World War I. Her second Nobel Prize came in 1911, this time for chemistry. In 1920 an American journalist, Missy Meloney, went to Paris to interview this remark- able woman, who still worked in a lab that was not equal to her status. Meloney brought Marie Curie to America twice, where the Polish-born scien- tist received 20 honorary degrees. The donations she received helped establish her Radium Institute in Paris. The year she received her second Nobel Prize, Marie met French physicist Paul Langevin. An affair that might have taken place with this married man turned her admirers against her. Marie had four cataract operations and even- tually died of leukemia in 1934. These were just some of the symptoms caused by exposure to radioactivity that were documented by 1924. In 1935, the year after her death, Marie's daughter, Irene, and her husband, Frederic Joliot, received a Nobel Prize in Chemistry for their work in artificial radioactivity. When France celebrated the 100th anniversary of Marie Curie's birth in 1967, the government had a difficult time locating a portrait that did not make the shy scientist look "too Polish." The portrait on which the Polish bank note engraving is based can be found in McGrayne (p. 13). As she looks into the camera lens for this 1913 photograph, Marie Sklodowska Curie seems to have just said, modestly but with pride, "I am Polish." continued in next issue + References A complete list of sources will appear at the end of this series. McGrayne, S.B. Nobel Prize Women in Science. New York: Birch Lane Press, 1993. Nati n S Only one note is known on the German National Bank of Memphis, Tennessee. It carries the signatures of Martin Griffin, cashier, and H.E. Garth, president. 74 May/June 1999 • Whole No. 201 • PAPER MONEY BY CHARLES A. DEAN E \TER SINCE I STARTED COLLECTING CURRENCY, I have beenfascinated by the wide and unusual variety of titles used by NationalBanks. Although about half the National Banks used the word"First" in their titles, hundreds of interesting names can be found; most are located in the Northern and Midwestern states. Having collected Tennessee National Bank notes for 28 years, I was sur- prised to learn that there was one very unusual title among these issues. Lot 545 in Lyn Knight's 1997 Memphis Paper Money Show auction was a Series 1875 $1 on the German National Bank of Memphis, Tennessee. To me, this seemed like an odd title for a Southern bank. I soon decided on two courses of action: first, I was determined to add this note to my collection (after a heated bidding battle, I acquired this uniquely titled note); next, I decided to find out how many of these ethnic National Banks were chartered and how many of their notes survive. By far the largest category of ethnic National Banks were German: 53 German National Banks were chartered in 22 states and the District of Columbia. Chart I lists these banks, the number of Nationals they issued and the number of known survivors. As the chart illustrates, with the exception of six or seven banks, National Bank notes surviving from these banks are scarce or rare. German immigration to the United States increased markedly in the mid 1840s. At the time, Germany was less advanced that other countries of Western Europe, with most people making their living from farming. Beginning in 1844, harvests were poor, business contracted and a depression PAPER MONEY • May/June 1999 • Whole No. 201 75 Chart I German National Banks State Charter City National Bank Title # of Notes Issued # of Notes Known AR 3318 Little Rock German 41,978 1 CA 6592 San Francisco Germania 23,446 2 CO 2351 Denver German 34,524 3 DC 2358 Washington German-American 18,440 2 IL 4469 Aurora German-American 66,760 3 IL 1734 Chicago German 33,456 0 IL 3613 Lincoln German-American 100,212 7 IL 3770 Pekin German-American 68,526 7 IL 3296 Peoria Commercial German 492,172 12 IL 3070 Peoria German-American 49,396 3 IN 1772 Evansville German 74,408 1 IN 7725 Fort Wayne German-American 201,528 3 IN 8199 Hammond Citizens German 81,520 4 IN 3864 Vincennes German 237,652 4 IA 9664 Arlington German-American 7,920 3 KS 6701 Beloit German 43,884 8 KS 3473 Newton German 1,516 0 KY 1847 Covington German 335,582 27 KY 2062 Louisville German 78,146 5 & 2 unc. KY 2726 Newport German 67,820 4 KY 2070 Paducah German-American 79,512 5 LA 1591 New Orleans Germania 55,388 4 LA 7876 New Orleans German-American 393,688 8 MN 4655 Little Falls German-American 23,376 7 MN 3009 Saint Cloud German-American 15,220 0 MN 2943 Saint Paul National German-American 125,852 5 MO 3793 Kansas City German-American 4,960 0 MO 9042 Saint Joseph German-American 101,080 5 NE 4148 Beatrice German 18,478 1 NE 8328 Columbus German 29,900 2 NE 3732 Hastings German 45,224 5 NE 8383 Johnson German 10,176 1 NE 3571 Lincoln German 16,540 1 NJ 2045 Newark German 84,280 4 ND 7695 Wahpeton German-American 1,448 0 OH 2524 Cincinnati German 552,896 29 OH 5212 Marietta German 55,200 7 OK 9616 Ponca City Germania 9,684 2 OK 7238 Weatherford German 7,360 1 terr. PA 2261 Allegheny German 196,422 7 PA 2241 Mil lerstown German 7,880 1 PA 757 Pittsburgh German 593,090 10 SC 10708 Charleston Germania 34,400 0 SD 8125 Redfield German-American 8,840 0 TN 1636 Memphis German 55,928 1 TX 7098 Mason German-American 11,720 1 WI 4602 Beaver Dam German 55,716 7 WI 8887 Marion German-American 0 0 WI 6853 Milwaukee Germania 196,500 12 WI 4196 Oshkosh German 35,836 4 WI 4305 Ripon German 88,780 15 WI 6403 Shawano German-American 20,732 6 WI 4744 Wausau National German-American 106,984 9 76 May/June 1999 • Whole No. 201 • PAPER MONEY Chart II Germantown National Banks State Charter City National Bank Title # of Notes Issued # of Notes Known NY 12242 Germantown Germantown National Bank 4,604 L 3L 1,440 S 2S OH 86 Germantown First National Bank 43,124 L 5L 2,661 S 9S PA 546 Philadelphia National Bank of Germantown 782,792 L 26 L 193,673 S 31 S PA 12860 Philadelphia Queen Lane National Bank in 57,456 L 8L Germantown Chart III Swedish National Banks State Charter City National Bank Title # of Notes Issued # of Notes Known IL 9823 Rockford Swedish-American 200,372 L 8L 45,424 S 12S MN 4951 Minneapolis Swedish-American 91,752 6 NY 9748 Jamestown Swedish-American 37,672 2 OH 4506 Ashtabula Marine National Bank of Sweden 2,952 0 Chart IV Scandinavian National Banks State Charter City National Bank Title Issued Known IL 1978 Chicago Scandinavian National Bank 27,000 1 MN 9409 Minneapolis Scandinavian-American 36,836 6 SD 10553 Sioux Falls Scandinavian-American 0 0 ensued. In 1848 revolts spread in the German states. All of this, coupled with the availability of cheap land in the Western United States, gave a marked stimulus to emigration. From 1819, when U.S. immigration records first were kept, until 1860, some 1,546,476 Germans arrived in the United States. During the Civil War, immigration slowed, only to increase again after the conflict ended. By 1893 Germany had become in- dustrialized, and that, plus the fact that the best land in the United States had been taken, led to a rapid decline in emigration. Most Germans coming to America settled in the Midwest because the climate and crops grown there were similar to that in Germany. Few settled in the hot and humid South. The first ethnic National Bank was the German National Bank of Pittsburgh, Pennsylvania, which was granted charter 757 on January 26, 1865. More than half the German National Banks were chartered between 1870 and 1890; only one was chartered after 1909. The Germania National Bank of Charleston, South Carolina, was granted charter 10708 in February 1915, after World War I had started in Europe. When the United States declared war on Germany on April 6, 1917, anything that had the appearance of a German connection was looked upon with disdain. One by one, beginning with the German National Bank of Hastings, Nebraska, on April 27, 1917, all these banks changed their name. Most took on patriotic names such as American, Liberty or Lincoln. The German- PAPER MONEY • May/June 1999 • Whole No. 201 77 American Bank of Shawano, Wisconsin, and the German-American National Bank of Arlington, Iowa, postponed a name change until July 1918, after American Expeditionary Forces under John J. Pershing had landed in France. Two German National Banks were liquidated within two months after the United States declared war on Germany: the German National Bank of Johnson, Nebraska, on April 11, 1917, and the Germania National Bank of Ponca City, Oklahoma, on June 4, 1917. Perhaps these banks could not withstand American patriotic fever or the resentment of anything German. (An interesting aside to the German National Banks are those institutions located in places called Germantown. These four banks are listed in Chart II.) The next largest group of ethnic National Banks was Swedish banks. Four banks, located in four states, are listed in Chart III. The Swedish-American National Bank of Rockford, Illinois, survived to issue 45,424 Series 1929 notes and was the only ethnic National Bank to issue small-size Nationals. The last group of ethnic National Banks was Scandi- navian banks. There were three such institutions, only two of which issued National Bank notes. They are listed in Chart IV. Survivors from this group are rare. Although not strictly ethnic National Banks, two oth- ers deserve mention: The Huguenot National Bank of New Paltz, New York, and the Batavian National Bank of La Crosse, Wisconsin. The Huguenot National Bank was granted charter 1186 in 1865 and stayed in business throughout the note-issuing period, putting almost 400,000 Nationals into circulation. About three dozen specimens survive today. The Batavian National Bank, named for the Batavian Republic (The Netherlands of 1795-1806), was chartered in July 1904, receiving char- ter 7347. It issued slightly more than 275,000 Third Charter and Series 1929 notes. A few more than 40 Nationals are known from this bank. Ethnic National Banks form an interesting part of banking history. I hope this article will give collectors a greater appreciation of these historic artifacts. Sources Jennings, Walter W. A History of Economic Progress in the United States. New York: Thomas Y. Crowell Company, 1926. Kelly, Don C. National Bank Notes: A Guide with Prices. 3rd ed. Oxford, OH: The Paper Money Institute, Inc., 1997. Knight, Lyn F. Memphis Paper Money Show. Auction catalog, 1997. The World Book Encyclopedia, 1976. EARLY AMERICAN NUMISMATICS • 619-273-3566 We maintain the LARGEST ACTIVE INVENTORY IN THE WORLD! COLONIAL & CONTINENTAL CURRENCY SEND US YOUR WANT LISTS. FREE PRICE LISTS AVAILABLE. SERVICES: q Portfolio Development q Major Show Coverage 1:1 Auction Attendance SPECIALIZING IN: q Colonial Coins q Colonial Currency L:1 Rare & Choice Type Coins q Pre-1800 Fiscal Paper q Encased Postage Stamps EARLY AMERICAN NUMISMATICS c/o Dana Linett P.O. Box 2442 • LaJolla, CA 92038 619-273-3566 Members: Life ANA, CSNA, EAC, SPMC, FUN ANACS 78 By FRANK CLARK - X2155500 - I vs" _ 4rigiaillaCC4*. '4,44,44,r4.4eM111.1I”,114:11- I 14,,,vi 4eVAIV•50■111 .iandia4416) Assistant Cashier Signatures on National Bank Notes I F YOU'RE INTERESTED IN NATIONAL BANK NOTES,specifically the large-size notes issued between 1863 and 1929, you've probably seen a note bearing the written or stamped signature of a "vice" president. You may also have seen a note bearing the written or stamped signature of an "assistant" cashier. You may be surprised to learn that the signature of a vice president of a National Bank on its notes was acceptable, but the appearance of a signature of an assistant or "acting" cashier was illegal! Let me tell you why. I'll begin by covering the original and amended laws concerning the notes and the required signatures. After that, we'll see how certain aspects of these requirements were conveniently ignored by the United States Treasury (and in particular the office of the Comp- troller of the Currency), which allowed the circulation of the notes mentioned above. The National Bank Act The original act establishing national currency, passed on February 25, 1863, actually was entitled "An act to provide a National currency secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof ..." Thankfully, an amendment to the act in 1874 [Act June 20, 1874, Ch. 343, Sec.1, 18 St. L., 123.] changed the name of the law to the "National Bank Act." From the veiy beginning in 1863 to the introduction of small-size notes in 1929, the laws regarding circulating notes (the "national currency") specifically stated that the only signa- tures allowed to appear on the notes were those of the bank's president or vice president and cashier: Such notes shall state upon their face that they are secured by United States bonds deposited with the Treasurer of the United States, by the written or engraved signatures of the A $5 National Bank note from the Third Charter period, issued in the early to mid-1920s by The First National Bank of Sanger, Texas, Charter 7886. The "Asst." cashier signature of E.B. Brown is at bottom left. His signature is hand-written, while that of Bank President J.T. Chambers is stamped. May/June 1999 • Whole No. 201 • PAPER MONEY Treasurer and Register and by the imprint of the seal of the Treasury. They shall also express upon their face the promise of the association receiving the same to pay on demand, attested by the written or engraved signatures of the president or vice- president and cashier. [Act June 3, 1864, Ch. 106, Sec. 22; 13 Stat. L., 105. Act Mar. 3, 1919.] Serious collectors may notice that "engraved" signatures is an amendment to the original act; but only signatures of the three officers named could appear on the notes! Amazingly, the rigidity of this particular clause prompted some havoc within the national banking system. In some instances, notes that had been delivered to National Banks but had not yet been signed were stolen from the banks; the thieves forged the correct officers' signatures on the notes and spent them. In another case—which was very embarrassing to the U.S. Treasury—some sheets of unsigned National Bank notes were stolen by an employee of the Bureau of Engrav- ing and Printing (BEP) before they were delivered! The employee also forged the correct officers' signatures on the notes and passed them. In eves) , case, the U.S. Treasury denied any responsibility for the loss to the banks involved. The Treasury pointed to the clause cited above and stated that the signatures were "forgeries" and not the actual signatures of the approved offi- cers as required by law. As a result, the individual banks were left to cover the losses, since their bonds to secure the notes were held by (you guessed it) the U.S. Treasury! The Act Is Amended Finally, in 1892, the law was amended to correct the problem: That the provisions of the Revised Statutes of the United States, providing for the redemption of national bank notes, shall apply to all national bank notes that have been or may be issued to, or received by, any national bank, notwithstanding such notes may have been lost or stolen from the bank and put into circulation without the signature or upon the forged signa- ture of the president or vice president and cashier. [Act July 28, 1892, 27. Stat. L., 322.] What this says is that a note signed by the president or vice president and the cashier of the bank was acceptable; a note with the forged signatures of the president or vice president and the cashier of the bank was acceptable; or a note with no signatures at all was acceptable. But the law still did not men- tion any other officers! Rubber-Stamped Signatures The practice of "rubber-stamping" officers' signatures began in the late 19th century. The specified officers were too busy IMADHL-NO-VIS-"111-11 NINI THE FIBST 7886 A001451 NATIONAL BANK OF c) SANGER W1L1...I1071■• EIE■LER OX F1..110 FIVV ;110LIARS 1001451 7886 11111.4.1NARIA,ST.N1WiNIMULIIKINIABAk THE FARMERS '"' NATIONAL BANK OF co KINGSJ_EY- IOWA ••■ d PAPER MONEY • May/June 1999 • Whole No. 201 79 or too important to take the time to sign each note, so the duty fell to the clerks to stamp their names on the notes before they were issued. There is absolutely no doubt that the United States gov- ernment (the Treasury Department and Congress) was aware of this practice, although probably not too happy about it. The following comment, published in Pratts' Digest of National Bank Laws in 1908, most likely refers to the banks that issued large numbers of notes: ... the matter of signatures of officers is evidently not impor- tant, and in view of this fact many banks have the signatures of their officers engraved or stamped on the notes, and they are frequently ordered sent direct from Washington to the Reserve Agent of the bank for credit, arrangement having been made with the correspondent to have signatures of officers printed on notes. By the 1920s, even the United States Treasury accepted the fact that the bank officers weren't going to personally sign every note. For a fee, the Comptroller of the Currency would arrange for the BEP to engrave the signatures of the officers directly onto the plates, and deliver the notes to the bank. These notes can be identified rather easily; they are all Third Charter Series 1902 Plain Back notes, and the line for the officers' signature is not present. I know of only one case in which the signature of a vice president was engraved on a plate by the BEP. Several such notes—no line, and engraved signatures—exist for The National Bank of Fairmont, West Virginia (Charter 9462). However, the word "Vice" has been engraved before the word "President" on the plate. According to the law, this was per- fectly legal. A Series 1929 $5 type II note issued by the same bank between 1933 and 1935. The signatures are the same as those on the large-size note, but now E.B. Brown has been promoted to cashier. The bank furnished the officers' sig- natures to the Comptroller of the Currency, and they were engraved and printed on the notes. A very few Series 1929 notes are known on which the signature in the president's space is that of the vice president—unusual, but legal. Apparently by this time the Treasury Department took the still-existing law to heart and reviewed the submitted sig- natures very carefully—but one slipped by! The only Series 1929 noted with an "Assistant" cashier's signature that has been observed is this Type I $20 issued by Charter 9116, The Farmers National Bank of Kingsley, Iowa, bearing the signature of W.L. Karlson in the cashier's spot, with a tiny "a" above the "c" in "Cashier." A contemporary bankers' directory confirmed that W.L. Karlson was assistant cashier of The Farmers National Bank of Kingsley, Iowa, through the Series 1929 note-issuing period. Assistant Cashier Signatures We know from surviving specimens that some National Bank notes were signed by the "assistant cashier." It is not known if the banks were ignorant of the law or if they purposely dis- obeyed it. Also, it is not known if the Treasury Department would notify a bank of its mistake or if the bank would be penalized in any way. The Treasury Department would certainly find the signa- ture discrepancy when the notes came in for redemption or when a National Bank examiner audited the bank. Chances are Treasury Department officials (and any members of Congress who really cared) simply chose to ignore the necessities of the banking business. The law intended for National Bank notes to circulate; the issuing banks wanted them to circulate, so in most cases they were paid out as quickly as possible. If the cashier happened to be out of the bank at the time some notes were paid out to a customer, then the assistant cashier, acting cashier, vice president (active, acting, 1st, 2nd, 3rd or what- ever) was pressed into duty and asked sign (or stamp) the notes. When an assistant cashier signed notes, he or she would usually write "Assistant," "Asst" or possibly only an "A" before the engraved word "Cashier" on the notes. I find these issues a fascinating variation to look for when collecting National Bank notes. References National Banks of the United States. The National City Bank of New York, 1910. The National-Bank Act as Amended. Washington, DC: Government Printing Office, 1922. Pratts' Digest of National Banking Laws. Washington, DC: A.S. Pratt & Sons, 1908. I Happenings, -Alb- BANK Submitted by BOB COCHRAN SUPPORT YOUR SPMC DEALERS Look for SPMC membership cards in their cases at coin & paper money shows. L 3.1 r I :aArtxturlf ":44) 273 jiti---•-•,17.771:11.;.:71.11111r1lArraVaria k.:V(gtt t 1 1 THE FIE:1 NATIONAL Mt 0 IF SU`EI;R ivil HOLLAIRS , ?AM- lairg-AYtk9. 11stent04. C 000179A k*.# 1-, 3 P, A—% ; 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 LM 114—PCDA—LM ANA Since 1976 PAPER MONEY • May/June 1999 • Whole No. 20180 A "Changeover" Pair? I WAS "SCROUNGING" AT A LOCAL FLEA MARKET oneweekend and stumbled across the two items pictured on this and the following page. I figured at $2 for the pair, it was a transaction I could handle! As you can see, B.L. Hill Sr. was the agent for The Pacific Express Company in Higginsville, Missouri, which is located in the central part of the state. When the Wells Fargo & Company buyout of Pacific Express took effect on August 1, 1911, Mr. Hill continued as the agent. He also created a cou- ple of souvenirs for his son. Hill issued the last Pacific Express money order on July 31, and the first Wells Fargo money order the following day. We know these were souvenirs for two reasons: (1) he didn't remove the "remitter's receipt" from either money order, and (2) he documented his efforts on the back of each. I'll bet these transactions took place just before and just after midnight on Always Wanted Monmouth County, New Jersey Obsoletes – Nationals – Scrip Histories and Memorabilia Allenhurst — Allentown — Asbiny Park — Atlantic Highlands — Belmar Bradley Beach — Eatontown — Englishtown — Freehold — Howell Keansburg — Keyport — Long Branch — Manasquan — Matawan Middletown — Ocean Grove — Red Bank — Sea Bright — Spring Lake N.B. Buckman P.O. Box 608, Ocean Grove, NJ 07756 800-553-6163 Fax: 732-922-5055 July 31 and August 1, 1911. There are two other fascinating items on the Pacific Express money order. First, notice that the money order itself is made out for 10 cents, but the receipt is for only 5 cents! Second, the Pacific Express logo—the shield at the center of the money order—shows a railroad car at the top, with the phrase CALL AND CALL AGAIN running across the bars! PAPER MONEY • May/June 1999 • Whole No. 201 81 att, attfttrasir.-Acti • TIT Aet.er ACI P .6.4, Or !DINE 19759 Itirtijar eXcpilit'4,:tki• (1;:t1. t: jr" 'Afro ••(...40 S 19759 Pt it it {MESS (4; MONO • ORM. %WIENS NO CI"' E E ; T 1E SOILatt': n sv Me., , JAAA 3144,A //1 Dn. LARS sag.' PAY To THE pRoy.A0E • --reA „Agt 3//4 /. 764 JeVeied -.-- 14 Failit7/04. -S(4 11001 alf 0111.011 • -41,NO KEMP IT.PAY TO THE ORDER OF THE SUM OF rat.ts.4“ Ifigy ns Vihe. ,9 111 /CM. , taCr.,,Vdrxr GREES TRAN WHEN COUNTENSiC,NED PlY AGE.pi r nun, 0t sour .1. 1 DAT I The last Pacific Express money order was issued by Agent B.L. Hill Sr. on July 31, 1911. After Pacific Express was bought out, B.L. Hill Sr. contin- ued as agent and issued the first Wells Fargo & Company money order on August 1, 1911. A Primer for Collectors BY GENE HESSLER 82 T HE MENTION OF A $3 BILL usually gets a laugh,unless you are among collectors. Yes, Virginia, there are $3 bills, as well as notes for other odd denominations. The Nov./Dec. 1978 and the Mar./April 1991 issues of PAPER MONEY included articles by this writer about the $3 note the federal government prepared but did not issue. By perusing a dealer's list or personally examining the notes he or she has to sell, you will see that $3 bills are rela- tively common among obsolete bank notes. This denomina- tion is a popular one to collect, however, since there are so many different examples. You should be able to find enough COlioraclo NloiopD itirazi3043i2,',/ rflIE STATE OF GE 0 R GIA , FOUR DOLLARS Paper money has been issued in many odd denominations, including $2, $3 and $4. May/June 1999 • Whole No. 201 • PAPER MONEY that will not exceed your budget. In addition there are notes for $1.25, $1.50, $1.75, $4, $6, $7, $8 and $9. There have been paper money issues for $11, $12 and $13; however these are rare and command hundreds of dollars. Odd-denomination bills are extremely popular, consequently supply and demand creates relatively high prices. Three banks in New Jersey issued paper money that included $6, $7, $8 and $9 notes. The notes from The People's Bank in Paterson, New Jersey, are affordable. These fascinating notes should be priced at about $25 each, perhaps a bit more or less depending on condition. There is no way that a cash register could accommodate all of these different denominations. Each businessman, propri- etor and saloon keeper must have devised his own method to keep these notes ready for making change. Today many peo- ple reject $2 bills. In the middle of the last century denomina- tions that were a convenience for some must have been a nui- sance for others. Notes for $1.25, $1.50 and $1.75, when you can find them, will cost more. Some of these fractional notes were at one time related to the Spanish milled dollar or "piece of eight." The Spanish silver coin, once legal tender in the United States, was divided into bits. One-half equaled four bits, one-quarter was two bits. Some examples of these bank notes show the image of the coin on the note, especially those for 25o and 50E. If you would pursue additional notes that are related to the legendary "piece of eight," you would see notes for 12I/2E and even 6 1 /4E. If these fractional and odd denominations appeal to you, consider the topic of the first column in this series—colonial paper money. The Continental Congress and at least five colonies or states issued fractional notes and notes for $4, $6, $7 and $8. Some colonies issued notes in shillings and pence, some in dollars, some in both units. The Continental Congress and Maryland issued notes for $I/6, $'/;, $ 2/3, $l/9 and $ 2/9. Massachusetts, New York, Rhode Island and Virginia issued notes for those other odd denomi- nations. The $1 note from Virginia dated 1777 includes the Spanish milled dollar in the design. Again, for the price of about $25 each, you will be limited to specific issues. Odd-denomination obsolete notes are sometimes related to the price of a particular product within a specific area. In addi- tion, some railroads issued bank notes, and what could be more convenient than denominations that related to specif- ic fares. There is a particular odd-denomination note that should be affordable. In the 1860s, the Missouri Defence Fund issued a note for $4.50. Although it looks like a bank note, it was con- sidered to be more like a bond. These attractive notes with a rust-colored background are not too expensive. This Missouri note was printed by Keatinge & Ball in Columbia, South Carolina, the printer of many Confederate notes. This tiny credit line at the bottom of the note reminds us of the location of Missouri and how its loyalty to the Union and the Confederacy moved from one to the other. These and other notes are frequently seen without sig- natures. Notes without signatures are most often remainders, or notes that were never issued. Nevertheless, a piece of paper money for $4.50 should provoke some conversation in any company. —Adapted with permission from COIN WORLD, March 22, 1993. The EEC GOODS GAME, WORLD PAPER MONEY specializing in Poland, Russia & E. Europe visit us: http://www.atsnotes.com ats@atsnotes.com Buy & Sell Free Price List Tom Sluszkiewicz P.O. Box 54521, Middlegate Postal BURNABY, B.C., CANADA,V5E 4J6 PAPER MONEY • May/June 1999 • Whole No. 201 83 A Monstrous Forgery by a Woman—Strange Development A FEW WEEKS SINCE A MRS. SEVASTI, a Moldavianlady, was arrested at Constantinople, having in her pos- session a large amount of counterfeit paper money of the denomination known as "kaimes," or 20 piastre notes. While under judicial examination she admitted that the notes were printed by a book and job printer in New York, named W.L. HARRISON, who, on Thursday last, at the instance of the Turkish Consul, was arrested as an accomplice. The Tribune of Saturday gives the result of Mr. HARRISON'S examination, as follows: Mr. Harrison states that the job came to him in the regular course of business, that it was executed without the slightest attempt at concealment; he supposed that the paper notes were labels for some sort of Oriental commodities, a supposi- tion most reasonable, for the notes have not the slightest resemblance to any sort of paper money ever used in this country. The discovery of the plan to flood the Ottoman Empire with spurious money was particularly fortunate, for in that country they have never had any counterfeit notes, and they would have been put into circulation with the greatest ease, without their character ever being suspected. The imitation was pronounced by the Turkish gentleman to be excellent, and the fac simile of the seal of the sultan was so good that its genuineness would probably never ha[v]e been questioned. The [s]eal is called the "[Tughra]," and is guarded with the strictest care, a number of the officers of the State being specially detailed to take care of that important instru- ment. The "kaimes" found on the premises of Mr. Harrison, and several bales of which were brought to the Mayor's Office, are some that were rejected by Madame Zuuifmen [sic] (an assumed name) on account of some alleged imperfections in the imitations. They are printed on the soft porus [sic] kind of paper, sometimes called "India paper," and the translation of the inscription on each note represents that it is the legitimate paper currency of the Ottoman Empire, of the value of 20 piastres; authenticity is guaranteed by the "[Tughra]" of the Sultan, and by the Grand Seal of the Minister of the Mint, both of which are imitated with great exactness. The value of the genuine "kaime" is $8, and the ingenious Madame Zaifmen had in her possession when apprehended spurious "kaimes" of the purported value of $4,800,000. She had her counterfeit notes concealed in mattresses and in trunks with false bottoms, at the time of her arrest, and she would doubt- less have succeeded in introducing them into the country had she not shown great anxiety to pass the Custom House officers without having her baggage scrutinized. Her punishment will be, if not death, a very long term of imprisonment. The following named articles have been sealed with the Mayoralty and the Turkish seals, and deposited in the Shoe and Leather [Bank] to await the action of the Ottoman author- ities: 38 plates for printing the body of the notes; 20 plates for printing the "[Tughra]" of the Sultan, and 20 plates for print- ing the seals of the minister of the Treasury. The Mayor being satisfied of the innocence of Mr. Harrison in his letter permitted him to depart on his giving the subjoined certificate: NEW YORK, Oct. 8, 1858. The plates and "kaimes" printed by me for Madam Zaifman, having been ascertained to be intended for fraudulent purposes, and the undersigned having been unwittingly used by her in printing the same, I hereby deliver and relinquish the same to Daniel F. Tiemann, as a Justice of the Peace and Mayor of the City of New York, to be handed over to the Turkish Government, or to be otherwise disposed of. W.L.S. HARRISON, No. 62 Duane Street. —The Daily Pioneer & Democrat, St. Paul, Minn., Oct. 15, 1858. •:• OBSOLETE NOTES I Also CSA, Continental & Colonial, I I Stocks & Bonds, Autographs& Civil War Related Material I LARGE CAT. $2.00 Ref. IAlways Buying at Top Prices I I RICHARD T. HOOBER, JR. IP.O. Box 3116, Key Largo, FL33037 L I FAX or Phone (305) 853-0105-I Pay Cash (no waiting) No Deal Too Large A.M. ("Art") KAGIN 910 Insurance Exchange Bldg. Des Moines, Iowa 50309 (515) 243-7363 Fax: (515) 288-8681 At 79 Now is The Time — Currency & Coin Dealer Over 50 Years I attend about 25 Currency-Coin Shows per year Visit Most States (Call, Fax or Write for Appointment) Collector Since 1928 Professional Since 1933 *Founding Member PNG, Pres, 1963-64 ANA Life Member 103, Governor 1983-87 ANA 50-Year Gold Medal Recipient 1988 CHECK THE "GREENSHEET" GET 10 OFFERS THEN CALL ME (OR WRITE) FOR MY TOP BUYING PRICES The Kagin name appears more often than any other in the pedigrees of the rarest and scarcest notes (U.S. Paper Money Records by Gengerke). BUY ALL U.S. CURRENCY Good to Gem Unc. I know rarity (have handled over 95% of U.S. in Friedberg) and condition (pay over "ask" for some) and am prepared to "reach" for it. Premium Prices Paid For Nationals (Pay 2-3 times "book" prices for some). BUY EVERYTHING: Uncut Sheets, Errors, Stars, Special Numbers, etc. I can't sell what I don't have 84 MayJune 1999 • Whole No. 201 • PAPER MONEY TABLE 1 Deliveries of Series 1934 $10,000 New York Federal Reserve notes from the Bureau of Engraving and Printing Data from Bureau of Engraving and Printing (1952) and Shafer (1967). Year Serials Delivered 1935 B 00000001A-B 00001200A 1936 B 00001201A-B 00001800A 1937 B00001801A-B00002400A 1938 none 1939 B00002401A-B00004200A 1940 B00004201A-B00007800A First delivery: Dec 18, 1935 Last delivery: Apr 23, 1940 TABLE 3 Serial Numbers on the $10,000 Series 1934 New York Federal Reserve Notes as Arranged in the Binion Frame All have the form B0000xxxxA. 2257 2323 2418 2258 2324 2275 2274 2273 3073 3060 2272 2271 2269 2267 2268 3071 2651 2266 3072 2260 2264 2265 2253 2255 2256 2254 2261 2262 2263 2251 3070 3069 3068 2187 2189 3067 3066 3065 3064 2157 2158 2156 2153 2154 2155 2123 2730 2729 2125 2143 2121 2120 2124 2024 2122 2259 2023 2021 2678 2022 2653 2654 2652 2679 2728 2856 2950 3075 3074 2740 2739 2738 2864 2972 2971 3051 3033 3059 3740 3083 2967 3061 3031 3062 3055 3082 3054 3081 3053 3063 3032 2965 3084 3058 2966 2968 2970 3057 2969 3056 PAPER MONEY • May/June 1999 • Whole No. 201 85 The PAPER Ar„, otu n By PETER HUNTOON The Binion $10,000 Notes of Las Vegas, Nevada O NE OF THE BEST KNOWN, MOST VISITED and oldestlandmarks in Las Vegas is the million-dollar display in Binion's Horseshoe Casino in the downtown gambling dis- trict. Framed by a golden horseshoe are one hundred $10,000 notes. The display is located just inside the northeast-most entrance to the casino off Casino Center Boulevard in a fairly spacious foyer. It is the most-photographed icon in Vegas. Until a couple of years ago, you could have your photo taken next to the display, and in about an hour the casino would give each person in your party a free, postcard-size print. The old photo stand has been removed, but you can photograph the exhibit yourself. As I understand it, the notes are on loan to Binion's from the Federal Reserve Bank of New York, wherein the corpora- tion is charged an annual interest rate. The corporation then writes off for tax purposes the expenses of the exhibit, includ- ing the interest and the passive security system housing it. All the notes are $10,000 Series 1934 New York Federal Reserve notes from back and face plates 1. All have serials in the B00002021A to B00003740A range. As shown in Table 1, A famous million-dollar display in Las Vegas' Binion's Horseshoe Casino: one hundred $10,000 notes are framed by a golden horseshoe. 86 May/June 1999 • Whole No. 201 • PAPER MONEY Table 2 Serial Numbers and Plate Letters on the $10,000 Series 1934 New York Federal Reserve Notes in the Binion Frame All have the form B0000xxxxA. 1 2021 E 26 2258 H 51 2679 C 76 3056 H 2 2022 F 27 2259 I 52 2728 D 77 3057 I 3 2023 A 28 2260 J 53 2729 E 78 3058 J 4 2024 B 29 2261 K 54 2730 F 79 3059 K 5 2120 H 30 2262 L 55 2738 B 80 3060 L 6 2121 I 31 2263 G 56 2739 C 81 3061 G 7 2122 J 32 2264 H 57 2740 D 82 3062 H 8 2123 K 33 2265 I 58 2856 F 83 3063 I 9 2124 L 34 2266 J 59 2864 B 84 3064 J 10 2125 G 35 2267 K 60 2950 D 85 3065 K 11 2143 G 36 2268 L 61 2965 A 86 3066 L 12 2153 K 37 2269 G 62 2966 B 87 3067 G 13 2154 L 38 2271 I 63 2967 C 88 3068 H 14 2155 G 39 2272 J 64 2968 D 89 3069 I 15 2156 H 40 2273 K 65 2969 E 90 3070 J 16 2157 I 41 2274 L 66 2970 F 91 3071 K 17 2158 J 42 2275 G 67 2971 A 92 3072 L 18 2187 I 43 2323 G 68 2972 B 93 3073 G 19 2189 K 44 2324 H 69 3031 G 94 3074 H 20 2251 G 45 2418 F 70 3032 H 95 3075 I 21 2253 I 46 2651 E 71 3033 I 96 3081 I 22 2254 J 47 2652 F 72 3051 I 97 3082 J 23 2255 K 48 2653 A 73 3053 K 98 3083 K 24 2256 L 49 2654 B 74 3054 L 99 3084 L 25 2257 G 50 2678 B 75 3055 G 100 3740 B the serials up through 2400 were printed in 1937. The higher numbers were printed in 1939. The notes were overprinted with the transitional yellow- green seals and serial numbers that characterize the last of the Series of 1934 yellow-green seal printings. I was surprised not to find pale blue-green seals and serials on the notes numbered above 2400 because my work with $5s pointed to a change to blue-green ink near the end of 1937. The serials and plate letters are listed in Table 2. The largest consecutive run of notes in the exhibit consists of 23 notes numbered 3053-3075; the second largest includes 17 notes numbered 2253-2269. No $10,000 stars were made because errors were replaced by make-up lookalikes (Huntoon, 1984). Consequently, none could have appeared in the exhibit by chance. The notes are housed in glass so you can view both sides, and each is fastened to the glass by what looks like a spot of rubber cement or some such glue, which results in a translu- cent spot on each note. As shown in Table 3, the notes are not arranged in serial number order. The grades of the notes range from about VF-XF through AU. Most exhibit counting marks on the right end, some have dings or creases in the mar- gins, and some have one or more rounded corners. The notes obviously did not circulate through wallets, but they were counted many times. Seven have penned numbers on their faces, specifically those with serials 2189, 2652, 2856, 2950, 3031, 3032 and 3074. References and Sources of Data Bureau of Engraving and Printing. First Serial Numbers Printed during Each Year on United States Small Size Notes from 1928 to 1952: Typed list prepared by 0 & M Secretary. Washington, DC: Bureau of Engraving and Printing, 1952. Huntoon, P. "Update on High Denomination Star Notes." Paper Money (23) 1984, p. 89. Shafer, Neil. A Guide Book of Modern United States Currency, 2nd ed. Racine, WI: Whitman Publishing Co., 1967, 160 p. RPRITrtrittftIhmtlr .4„, D70990VIMAJAY.VgitfleAVARN., 101:1=1,4 D1000 st. -423E133:331.MElia, 241k050:1:Kihir,SK :ILL( YeZGISCDERACAe 741 he',/ 6,)/ 41, 'fa% /I k9294-434:ramoopiglaititAaKtooDyfutumy yr 'DDID;,/,„,"7„, 7, /4. N929443 CO SUPERB -UNITED STATES CURRENCY FOR SALE SEND FOR FREE PRICE LIST BOOKS FOR SALE COMPREHENSIVE CATALOG OF U.S. PAPER MONEY by Gene Hessler. 6th Edition. Hard cover. 579 pages. The new Edition. $32.00 plus $3.00 postage. Total price $35.00. THE ENGRAVERS LINE by Gene Hessler. Hard cover. A complete history of the artists and engravers who designed U.S. Paper Money. $75.50 plus $3.50 postage. Total price $79.00. NATIONAL BANK NOTES by Don Kelly. The new 3rd Edition. Hard cover. Over 600 pages. The new expanded edition. Gives amounts issued and what is still outstanding. Retail price is $100.00. Special price is $65.00 plus $4.00 postage. Total price $69.00. U.S. ESSAY, PROOF AND SPECIMEN NOTES by Gene Hessler. Hard cover. Unissued designs and pictures of original drawings. $14.00 plus $2.00 postage. Total price $16.00. Stanley Moryez P.O. BOX 355, DEPT. M • ENGLEWOOD, 011 45322 937-898-0114 rlakifORA. Your Hometown Currency Headquarters Top prices paid for National Currency Collections, Large-Size Type Notes, All Florida Currency and Scrip Largest Inventory of National Currency & Large-Size Type Notes! Interested? Call 1-800-327-5010 for a Free Catalog or write kst May/June 1999 • Whole No. 201 • PAPER MONEY88 The PRESIDENT' Column By BOB COCHRAN H ELLO! IT'S HARD TO BELIEVE IT'S ALREADY TIMEfor the International Paper Money Show in Memphis! Mike Crabb and the members of the Memphis Coin Club make this the best show of the year for paper collectors! The SPMC Membership meeting is scheduled for 10 a.m., Saturday, June 19, in the ballroom of the Marriott Hotel (for- merly the Holiday Inn Crowne Plaza). I believe the speaker for our meeting will be a first for SPMC: Jim Hughes of the Smithsonian Institution has gra- ciously agreed to tell us about the paper money collections in the National Museum of American History. I've asked Jim to provide some detailed information about the "proof impres- sion sheets" of National Currency, among other topics. We're quite fortunate to have such a special guest! We also will honor authors and others who have contributed to our knowl- edge and enjoyment, with the announcement of SPMC awards. SPMC's annual Breakfast meeting and famous "Tom Bain Raffle" will take place on Friday, June 18. Judith Murphy is handling ticket sales—and this event does sell out! What do you think of the reprints of "classic" articles in Paper Money? Most of you have joined within the last 5 to 10 years, so you may never have seen these articles. Look for more of these wonderful stories in upcoming issues. Any sug- gestions for specific topics we could "dust off"? Contact your Editor and let her know! I'll be stepping down as SPMC president after the Saturday morning board meeting. I've enjoyed serving you since 1986, when I was asked to become secretary. Many wonderful people still are servingyou, donating their time and efforts to make this hobby more fun for all of us. I urge you to support your incom- ing officers and board members, and encourage you to take part in SPMC activities throughout the year—attend a meeting, make an educational presentation, sign up a new member or two, contribute your time and energy if asked to "get involved," and consider writing an article for Paper Money. + William Youngerman, Inc. Rare Coins & Currency "Since 1967" P.O. Box 177, Boca Raton, FL 33429-0177 L Special Thanks Due to Wismer Project Supporters When SPMC decided to publish the long-overdue Kentucky Obsolete Notes and Scrip book in 1998, the subscription price was based on the best-faith estimates of the SPMC Board. Rather than going into the boring details, suffice it to say that we experienced cost overruns in producing the book. In my personal opinion, however, the enhancements were more than justified—the book is very well done. Even though the subscribers had already paid a set amount in advance, they were asked to contribute a specified amount to help offset the increased costs of production. All the funds received were returned to the SPMC Wismer Obsolete Notes Project fund, to be used for publishing the next book. The following individuals and organizations (some of whom are not SPMC members) deserve special mention: They "coughed up" the extra bucks when asked; some even sent more than was asked. I apologize to anyone whose name I may have inadvertently omitted. Glenn Martin Steven Whitfield Richard T. Crowe Charles Kemp Paul R. Matzke Jonathan Kern Joseph J. Adamski Joe L. Hensley Stephen R. Taylor L. Jim Kaczor State Historical Society of Wisconsin Walt Wiegand Ed R. Humphreys Ercel E. Rushing Charlie L.Farmer John Glynn David Tucker Marc Napolitan Lowell C. Horwedel Herb Schingoethe Wayne K. Homren Richard Jones Wendell Wolka Michael Kovac Thomas E. Caton Stephen W. Bailey Terry V. Brunton Michael E. Neibrugge Russell a. Hibbs Edward F. Flaherty Jack M. Vorhies David D. Gladfelter Dallas J. Riddle Elvin B. Miller Eric P. Newman David Schneider Kentucky Historical Society Library Forrest Daniel Joe S. Graves Bob Schreiner Frank Clark William Sharp Alan J. Moser Eric Jackson Armand Shank William Hopkins Ray Patterson Southland Coin Jerry R. Roughton Art Bermingham Jeff Tyler Ken Barr Larry Klubert Wolfgang Beck Russell Kaye Robert Reed Mark Reilly Keith Harrison Howard Pardee Don C. Kelly Frank Boone Roger Durand Michael J. Sullivan PAPER MONEY • May/June 1999 • Whole No. 201 89 SPMC NEWS CAA's Sale of the Charles Colver NBN Collection Born in Pomona, California, in 1920, Charles Colver spent his entire life in the state that he loved. Moving with his family to Covina at an early age, he began his collecting career when his grandfather gave him a can of English coins. In his late teens, he became inter- ested in Nationals, which later became a big part of his life. Colver served in many positions with the SPMC. Up until only a few years before his passing, he never missed an International Paper Money Show in Memphis. In the late 1960s, John Hickman con- vinced him that Nationals were really worth collecting. Though he collected California, type NBNs, and other States well before that period, he became more aggressive with his purchases. He was always in pursuit of the notes he needed to fill in his California and State NBN set. He also wanted at least one different denomination of Nationals up to $100. He utilized many sources to find notes: bankers and later on their relatives, his- torical societies, municipal officials, other collectors, dealers, coin shows, auction houses and others. Over the years, this amazing man, known as "Mr. California," amassed a fantastic collec- tion of NBNs. When he passed away in 1998, a great loss was felt not only by his family, but also his thousands of friends around the country. When we found out that Currency Auction of America (CAA) was going to sell the coveted Charles Colver Col- lection of California National Bank Notes and other Nationals on May 14- 15, 1999, we could hardly wait for the catalog to arrive. To our surprise, the huge catalog (2,830 lots) not only con- tained the coveted Colver material, but an entire section was dedicated to Charles Colver. (CAA made a special, softcover catalog containing only the Colver California section. The catalog for the California section is interspersed with many post cards of the actual banks. The section is also a treasure trove of information on banks and coun- ties. We don't think very many copies are left.) When we arrived at the Rosemont, Illinois, Sofitel Hotel, for the sale, we immediately checked in and went to the viewing room, which was packed mostly with dealers. At 8:20 p.m., the highlight of the sale was about to start to a packed house. The celebrated Charles Colver Collection of 431 California NBNs (all illustrated) was about to be dispersed to the dozens of collectors who flew, drove, walked (one person lived a half mile away) and traveled by train to the sale. We nicknamed this session: "Let the blood games begin." With great excitement and anticipa- tion, the California section was about to go under the hammer. With virtually every California NBN collector or deal- er in attendance, the book bids were rel- atively low. With so many highlights, we can just cover a few. The auctioneers had many bidders all over the floor for many of the notes. One auctioneer, Tom Mulvaney, commented during this section that he had so many bidders he couldn't memorize the bidder numbers. It wasn't long before an estimate was torpedoed off the page. Lot 1715 was a L. Candler Leggett L. Candler Leggett died in Jackson, Mississippi, on July 5, 1998, of com- plications of leukemia. He was 86 years old and had been in ill health for some time. Born in Hattiesburg, Candler graduated from Millsaps College and the Jackson (Mississippi) School of Law. During World War II, he served as a price inspector for the OPA. Later he was an account executive for WLBT and WJDX radio and televi- sion in Jackson. Candler loved the outdoors and was an avid sportsman. He was a member of the Mississippi Numismatic Association, Jackson Ad- vertising Club and Jackson Photog- raphy Club. Survivors include his wife, Ruth; daughter, Gail Webster of Clinton, Connecticut; two grandchildren; and two great-grandchildren. Candler joined the SPMC in 1963 (member #566) and was the author of the SPMC's Mississippi Obsolete Paper Money and Scrip published in 1975. The book's title says quite a bit about the man. It is one of only two of the SPMC "Wismer Project" books that use the phrase "Obsolete Paper Money" instead of "Obsolete Notes." I first met Candler at the Memphis paper money show about 15 years ago. I was born in Jackson, Missis- sippi, and we "hit it off" pretty good from the start. He was wearing a wide-brimmed "planter's hat," a style I had seen only when I was very young. We laughed quite hard when he told me he had driven up from Jackson in his "Big Cadillac," and I asked him if his hat had "whipped him about the head and shoulders" from the wind. We corresponded sporadically for some years. When Candler learned of my love of numismatic literature (I asked him to autograph my copy of his book, and his face lit up like a new bulb), he sent me a box of odds 'n' ends that kept me busy for weeks. Some of the items were pretty scarce, and I mentioned that when I wrote to thank him for the material. He said it was just "gathering dust" at his house. I last heard from Candler in early spring 1998. He wrote me a note and said he was coming to the Memphis show that June, and asked me to noti- fy the Tennessee State Patrol and the Memphis City Police Department to "keep an eye out for me." —Bob Cochran 90 May/June 1999 • Whole No. 201 • PAPER MONEY SPMC NEWS $5, 1902 Fr. 609 Oilfields NB of Brea (Ch. #1301) estimated at $2,000-$4,000. Opening at $1,800, it sold to a dealer using a cell phone for $13,000. The sec- ond-highest-priced item in the sale was the AU, $5, First NB of Covina, Series of 1882 Fr. 477 Brown Back Ch. # (P) 5830 uncut sheet in Lot 1744 in AU condition. Estimated at $30,000 to $50,000, it opened at $20,000, and after what seemed like an eternity, it finally was sold for $70,000 to David Koble (Mid-American Currency). A round of applause followed, and everyone looked around in amazement. This sheet was not only unique as a Brown Back sheet for the state, but also was Colver's favorite and most-cherished note. Lot 1844 contained an extremely rare First NB of Los Angeles, $20, Series of 1875 Fr. 434 Ch. #2491 note in VF. Opening at $2,800, this $5,000-$10,000 estimated note sold for $15,000 to a determined floor bidder. This note formerly was in the Amon Carter Jr. Collection. Another key note was in Lot 1895. This fine conditioned Series of 1902, $20 Fr. 652 Ch. #(P) 9512 Peoples NB of National City note was considered unique. The catalog description for this lot advised bidders "to bring money, swallow hard, and hang on for an inter- esting ride." The catalogers were right. Estimated at $3,500-$6,500, it opened at $2,750 and sold to California dealer Harlan White for $16,000. A $5 1902 RS Fr. 588 Farmers & Merchants NB of Redondo Ch # (P) 7895 in Fine condi- tion was in Lot 1966. Estimated at $3,500-$6,500, it opened at $2,100 and sold to the floor for $11,000. Lot 2041 contained another incredible note. The VF+ $10 1882 BB Ch # 3826 First NB of San Luis Obispo opened at $7,000 and sold to a floor bidder for $16,000. The estimate was $7,500-$12,500. We spoke with several collectors after the sale and found out they were happy to get what they did. Prices were stunningly high for many of the Colver notes. Few went to the book, and bar- gains for bottom feeders (bargain hunt- ers) were few. One collector of Cali- fornia notes told us he was able to get 20 notes, half of what he came for. He was delighted to be able to add the notes to his great collection; he knew Charles Colver for over 40 years and contended with him for many notes over the years. The final section contained 713 NBNs, most of which were Charles Colver's State type set. Among the high- lights were Lot 2384, which contained a Choice AU $5 Original Series First NB of Winona, MN Fr. 397 Ch. #550. Estimated at $3,000-$6,000, it opened at $4,800 and sold to a major collector for $12,000. Lot 2385 was a likely unique $5, #1 1882 Brown Back, Ch. #3224 on The NB of Winona, MN. This Ch. AU note was estimated at $3,000-$5,000. Opening at $5,250, it sold to a floor bid- der for $12,000. All the prices realized do not include the 10% buyer's fee. The total prices realized for the sale was $3,065,000. There were 840 total bidders, including 235 registered floor bidders. For catalog or sale information, write to Allen Mincho, P.O. Box 700, Spicewood, TX 78669, or Leonard Glazer, P.O. Box 111, Forest Hills, NY 11375. –Submitted by John and Nancy Wilson New Catalog Edition Covers Specialized Issues As part of the total revision and updat- ing of the most comprehensive world paper money reference, the recently released Standard Catalog of World Paper Grover C. Criswell Jr. Grover Cleveland Criswell Jr., a founder of the Society of Paper Money Collectors, died on Thursday, April 8, 1999, of a heart attack. Criswell, 65, of Ft. McCoy, Florida, was known as the "richest man in the world" because of his exhaustive col- lection and knowledge of Confederate paper money. He authored several books on the subject, including Confederate and Southern States Currency, Confederate and Southern? States Bonds, and Confederate Money and Civil War Tokens, which he co- authored with Herb Romerstein. He also wrote North American Currency and numerous related articles. Born in Chicago, Illinois, in January 1934, where his father ran a candy company, Criswell began col- lecting coins when he was 10 years old, buying 1909-S VDB Lincoln cents for $2 each. In 1944 he moved with his family to St. Petersburg, Florida, where he began his first mail- order coin business at the age of 12. After graduating from The Citadel in Charleston, South Carolina, in 1955, he attended Stetson College of Law in Florida before he was called to active military duty. When he was 25, Criswell was elected mayor of St. Petersburg Beach, Florida, one of the youngest men at the time to hold the post of mayor in a city with a popula- tion greater than 10,000. He went on to seek election to the United States House of Representatives and report- edly twice was considered for the position of director of the U.S. Mint. Criswell launched Bank Note Reporter in 1972 and served as its publisher for four years when it was sold first to Austin M. and Fred Sheheen and then in 1978 to Krause Publications. In 1965 Criswell was elected to the American Numismatic Association's Board of Governors, served as its president from 1977-79, and com- pleted his last Board term in 1993. A member of many clubs, Criswell was a founder and twice president of the St. Petersburg Coin Club and Florida United Numismatists (FUN). A member of the 1977 Roosevelt Uni- versity lecture series, Criswell also was a participant at the American Numismatic Society's 1985 Coinage of the Americas Conference. Criswell is survived by his wife, Dolly, and was preceded in death by his son, Grover C. Criswell III. • PAPER MONEY • May/June 1999 • Whole No. 201 91 SPMC NEWS Money, Vol. I: Specialized Issues is the only reference book available dealing solely with this collecting area. A complete grading guide includes definitions of the terms used throughout the volume. In compiling Standard Catalog of World Paper Money, Vol. I: Specialized Issues, authors Colin R. Bruce II and Neil Shafer changed more than 65% of the 51,000 prices to reflect current market conditions. Many of the issues more than doubled in price since the last edi- tion. Recent sales of specimen notes and proofs from the archives of American Bank Note Co. have led to many new listings in the book, as well as descrip- tions of pieces not previously available for cataloging. Some categories required extensive revision and updating. Dozens of new illustrations were added to the Colombian entries. Extensive adjust- ments of cyrillic text were required for Russian listings and nearly a complete rewrite was needed for the Italian and Papal states. It documents 250 years of selected issues of major commercial banks and quasi-government institutions, such as national pawn shops and some railroads. Notes issued by state and regional authorities, and siege notes from the 1500s to modern times issued by occu- pying military forces also are covered. More than 17,000 notes are de- scribed in detail and, for the first time, listed chronologically by issuing coun- try, province, state or commercial inter- est. Over 8,000 photographs show faces and backs for easy identification. Standard Catalog of World Paper Money, Vol. I: Specialized Issues (1,184 pages, softcover) can be purchased from major bookstores or directly from the publisher, Krause Publications, for $60 plus $3.25 shipping for the first book and $2 for each additional book. Wis- consin residents, add 5.5% sales tax. Illinois residents, add 6.25%. To order by mail, write to Krause Publications, Book Department PR99, 700 E. State St., Iola, WI 54990-0001. Charge-card customers can call toll-free 800-258- 0929, Dept. PR99, or purchase the book through the Krause Publications web site at http://www.krause.com . Doty Remembers Criswell I knew Grover for more than 20 years: if you were working in American 19th- century currency in the '60s and '70s, you were apt to run into him in short order. Grover wrote the book, as they say, and his texts, especially the ones on Confederate bonds and currency, grace the shelves of thousands of hobbyists. I had the opportunity of actually working with Grover Criswell on one occasion, during the mid '80s. I was organizing the second Coinage of the Americas Conference at the American Numismatic Society at the time, and I tapped Grover for a paper. He replied with enthusiasm; then, no word at all for months. We still hadn't heard from him on the actual day of the conference, and Leslie Elam, who was the current direc- tor of the museum, was having fits. But I knew Grover well enough to assure Leslie that if he said he'd be there, he would. Sure enough, Grover came in approximately 10 minutes before he was to go on and winged a brilliant presenta- tion, one of the highlights of that COAC. We consulted and stayed in fairly regular touch up until his stroke; I shall miss him greatly. Grover was one of a kind, but of the highest importance for our hobby: he got into it early and kept interest alive through much hard work until the rest of us caught up with him. —Richard Doty, Curator of Numismatics, Smithsonian Institution Nobody pays more than Huntoon for ARIZONA & WYOMING state and territorial Nationals V2059201. ..114;444t • 6579 ,"17222=ZEW.:' ....W.11.1.1.44114404,3.11.1.141, TC:.■ 1).‘1114, 11154 401C,P. Peter Huntoon P.O. Box 19464 Las Vegas, NV 89132 702-270-4788 Million Dollar Buying Spree Currency: Nationals MPC Lg. & Sm. Type Fractional Obsolete Foreign Stocks • Bonds • Checks • Coins Stamps • Gold • Silver Platinum • Antique Watches Political Items • Postcards Baseball Cards • Masonic Items Hummels • Doultons Nearly Everything Collectible 399 S. State Street - Westerville, OH 43081 1-614-882-3937 1-800-848-3966 outside Ohio Cia Life Member /:.1.110■ aloe EST 1960 "illosig49AmIld/s4" COIN SHOP INC SEND FOR OUR COMPLETE PRICE LIST FREE MayJune 1999 • Whole No. 201 • PAPER MONEY92 BUYING AND SELLING PAPER MONEY U.S., All types Thousands of Nationals, Large and Small, Silver Certificates, U.S. Notes, Gold Certificates, 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 MYLAR D CURRENCY HOLDERS PRICED AS FOLLOWS BANK NOTE AND CHECK HOLDERS SIZE INCHES 50 100 500 1000 Fractional 43/4 x 3'/a $17.75 $32.50 $147.00 $255.00 Colonial 5 72 x 31/46 18.75 35.00 159.00 295.00 Small Currency 6'/a x 278 19.00 36.50 163.00 305.00 Large Currency 7 I x 3 1/2 23.00 42.50 195.00 365.00 Auction 9 x 31/4 26.75 50.00 243.00 439.00 Foreign Currency 8 x 5 30.00 56.00 256.00 460.00 Checks 9 5/8 x 4 1/4 28.25 52.50 240.00 444.00 SHEET HOLDERS SIZE INCHES 10 50 100 250 Obsolete Sheet End Open 81/4 x 14 lb $13.00 $60.00 $100.00 $230.00 National Sheet Side Open 8 72 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 & Bond Size End Open 18 x 24 48.00 225.00 370.00 850.00 You may assort note holders for best price (min. 50 pcs. one size). You may assort sheet holders 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 uncoated 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, Boston, MA 02205 • 617-482-8477 ORDERS ONLY: 800-HI-DENLY • FAX 617-357-8163 PAPER MONEY • May/June 1999 • Whole No. 201 93 NEW MEMBERS MEMBERSHIP DIRECTOR Frank Clark P.O. Box 117060 Carrollton, TX 7501 1 9635 Jimmie Ranes, P.O. Box 118333, Carrollton, TX 75011-8333 (C, small-size U.S., Nationals) 9636 Karl S. Kabelac 9637 Roger W. Parry, 1000 Wesley Pines Dr., Lumber- ton, NC 28358 (C, pre-Civil War & Civil War) 9638 William T. Hart, 111 South St., New Providence, NJ 07974 (C, U.S., obsoletes, world) 9639 Benjamin Jaworski Jr., 40 Furlanf Dr., Schuyler- ville, NY 12871 (C & D) 9640 James Vernon Epps, P.O. Box 1348, Lake City, SC 29560 (C, South Carolina colonials & "Sweet Potato Dinner Notes") 9641 Mitchell T. Kinder, P.O. Box 4113, Cleveland, TN 37320-4113 (C, Tennessee obsoletes, especially Ocoee Bank) 9642 George G. Proctor, 564 Mission #611, San Fran- cisco, CA 94105 (C) 9643 Bud Calhoun, 60 Spruce Ln., Canton, MA 02021 (C) 9644 William E. Hopkins, 1006 Bellewood Rd., Anchor- age, KY 40223-2512 (C, Kentucky notes & scrip w/medical events & portraits) 9645 Arturo A. Hidalgo, 3-K Fellowship Ct., Towson, MD 21286 (C, Latin-American notes) 9646 Gary W. Rutenberg, 16514 Denise Dr., Austin, TX 78717 (C, large-size type & obsoletes) 9647 David Conlon, Box 39-1237, Mountain View, CA 94039 (C, fantasy notes, world, U.S. 19th-century paper money) 9648 Frank J. Denney, 11415 North 76th Plaza, Omaha, NE 68122-4027 (C, U.S. silver certificates, legal- tenders, foreign) 9649 Behzad Malek, P.O. Box 19585-444, Tehran, Iran (C & D, Iran, Western Europe & North America) 9650 Robert S. Carter Jr., 16 Rosedale Rd, West Hartford, CT 06107-2928 (C, small-size currency) 9651 Robert P. Campbell, 130 Jerry Daniels Rd., Marl- borough, CT 06447 (C) 9652 Erik Miglins, P.O. Box 10116, Glendale, CA 91209 (C, U.S. & Europe) 9653 Tom Thompson, 2608 Hilton St., Union City, CA 94857 (C, CSA) 9654 Jerry Macomber, 2744 Panorama Dr., Rockford, IL 61109 (C) 9655 Jim Fitzgerald, 8125 Spruce Valley Dr., Ft. Worth, TX 76137 (C, Fort Worth Nationals) 9656 Gary Whitelock, 12602 Gilmore St., N. Hollywood, CA 91606 (C & D, large-size type) 9657 Gary McNorton, 4775 Bit & Spur Rd., Mobile, AL 36608 (C & D, world) 9658 LTC A. Hudson McDonald, P.O. Box 7552, Spanish Fort, AL 36577 (C & D) 9659 David Bossert, 25641 N. Shaw Pl., Stevenson Ranch, CA 91381 (C, British, French, Dutch Caribbean, U.S. FRBNs) 9660 James Feely 9661 Richard J. Holcomb, 6315 Sunhollow Ln., Haslett, MI 48840 (C, Michigan & Midwest obsoletes) 9662 David E. Brown, 2709 St. Cloud Oaks Dr., Valrico, FL 33594 (C, silver certificates) 9663 Chris Gondran, 700 Jessie St., Austin, TX 78704 (C & D, nationals, MPCs, gold certificates, large-size type) 9664 Lon Kiker 9665 Hal Turner 9666 Paul Dyka, 92 A4 Cynthia Ln., Middletown, CT 06457 (C) 9667 James D. Hellyer III, 7830 Eastern Ave., Wynd- moor, PA 19038 (C) 9668 Geoffrey N. Shanklin, 1122 N. Brand Blvd., #202, Glendale, CA 91202 (C & D, Nationals, CSA) 9669 Michael Olsen, 67 S. Skyward Dr., Newark, DE 19713 (D) 9670 Neil F. Jacobs, 4029 W. Liberty St., Cincinnati, OH 45205-1459 (C, U.S., fractional, colonial) 9671 David L. Owen, 1960 Kingfish Rd., Naples, FL 34102 (C) 9672 Bruce Hedrick 9673 Rodney D. Novak, 1698C Mira Costa Cir., Chula Vista, CA 91913 (C, large & small type) 9674 Jerry J. Kumler, 706 S. Marias, Clawson, MI 48017 (C, $1 silver certificates) 9675 Alan John Lasecki Sr., 56 MC8059, Yellville, AR 72687-9899 (C, small-size notes) 9676 John Delucchi, 1555 Annie St., Daly City, CA 94015 (C) 9677 Joseph S. Blum III, 344 Main St., Emmaus, PA 18049 (C, errors, stars, webs) 9678 Mark Hays, 51 Wild Meadow Ct., The Woodlands, TX 77380 (C, large-size type) 9679 Gerald Sutphin Jr., P.O. Box 3451, Seward, AK 99664 (C, large-size type & stars) REINSTATEMENT 4549 Robert G. Lanphear, 501 Vikings Ln., Atlantic Beach, FL 32233 (C) CHANGE OF ADDRESS 9578 Noel Williams, 2222 Pacheco St., #608, Concord, CA 94520 LM291 William L. McNease, 23610 Maricio Dr., Valencia, CA 91355 RESIGNATION LM267 Marc Napolitan, 1318 Forest St., St. Paul, MN 55106 111i1; Nalg"),IWg. nit CAMP 4ILL MATICIAl BAH ( \MP HILL . May/June 1999 • Whole No. 201 • PAPER MONEY94 PAPER MONEY will accept classified advertising—from members only—on a basis of 15e 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 special- ized material and disposing of duplicates. Copy must be non-commercial in nature. Copy must be legibly printed or typed, accompanied by prepayment made payable to "Society of Paper Money Collectors" and reach Editor Marilyn Reback, P.O. Box 1110, Monument,CO 80132, by the first of the month pre- ceding the month of issue (i.e., Dec. 1 for Jan./Feb. issue). Word count: Name and address count as five words. All other words and abbreviations, figure combinations and initials count as separate words. 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, NY 10015. (22 words, cost $2. SC, U.S. and FRN each count as one word) STOCKS & BONDS wanted! All types purchased including rail- road, mining, oil, zoos, aviation. Frank Hammelbacher, Box 660077, Flushing, NY 11366. 718-380-4009; fax 718-380-9793) or E-mail (norrico@compuserve.com). (207) STOCK CERTIFICATES, BONDS, 40-page list for two 320 stamps. 50 different $25; three lots $60. 15 different railroads, most picturing trains $26, three lots $63. Clinton Hollins, Box 112, Dept. P, Springfield, VA 22150-0112. (208) WANTED OHIO NBNs. Please send list. Also, want LOWELL, TYLER, RYAN, WHITNEY, JORDAN, O'NIELL. Thanks for your help. 419-865-5115. Lowell Yoder, POB 444, Holland, OH 43528. (207) WANTED: STOCKS AND BONDS. Railroad, Mining, City, State, CSA, etc., etc. Also wanted Obsolete and CSA Currency. Always Paying Top Dollar. Richard T. Hoober, Jr., P.O. Box 3116, Key Largo, FL 33037. Phone or FAX (305)853-0105. (203) NYC WANTED: ISSUED NYC, Brooklyn, Williamsburgh obso- letes, any obsoletes from locations within present-day Manhattan, Brooklyn, Bronx, Queens, Staten Island. Steve Goldberg, Box 402, Laurel, MD 20725-0402. (204) WANTED: VERMONT OBSOLETES & NATIONALS. Please send list. Also want books and articles on Vermont notes. George Parker, 564 Mission #611, San Francisco, CA 94105; 415/954-4313, georgep@pobox.com (202) WANTED: NEW YORK OBSOLETE NOTES, all types. Also want obsolete notes from Portsmouth N.H. Please send list or Xerox. John GLYNN, 41 St. Agnell's Lane, Hemel, Hempstead Herts, HP2 7AX, England. (206) TRADE $5.00 C-UNC 1929 National 906 Lexington KY Type II for other National C-UNC. Write! R.S. Marshall, 87 Jane Dr., St. Peter, MO 63376. (201) FOR SALE. ALL STATES. I have many extra paper items available for sale. Scrip, coupons, chits, advertising notes, Depression scrip, col- lege notes, interesting old transportation tickets, etc. Please specify your interest. Photocopies available. I collect miscellaneous scrip, Depression scrip, coupons, and old transportation tickets (trolley, stage, railroad, bridge, ferry, tollroad, etc.) and am always eager to buy such items. Dan Benice, Box 5708, Cary, NC 27512. (201) WEB COLLECTORS, have available notes from a small run of 1988A A-F block Webs front plates; back 6 Gem CU. $32 + $2 postage for certified mail if desired. Roger Moulton, 821 E. Woodward, Austin, TX 78704. (201) WANTED: BANKER DIRECTORIES for Missouri National Bank research. Need 1905-06, 1908-10, 1912, 1914-19 and 1921-23. My 1863-1935 list of Missouri Presidents and Cashiers is nearly complete. My list of Vice-Presidents and Assistant Cashiers needs much work. Willing to exchange information. Can you help me? Do you have a Missouri national with a signature that has you stumped? Send a Xerox. I'll help if I can. Lloyd Deierling, Box 394, Moberly, MO 65270-0394. (201) VIRGINIA IDRs WANTED. Confederate Interim Depositary Re- ceipts from Pearisburg, Christiansburg, Lewisburg, Fredericksburg, Charlottesville, Scottsville, Gordonsville and Dublin, Virginia. J. Tracy Walker III, 2865 Mt. Aire Rock Lane, Charlottesville, VA 22901. (202) WANTED: $50 Bank of the Old Dominion, Alexandria, VA Pearisburg branch written in; BA30-26 or BA30-27 (Jones-Littlefield #). J. Tracy Walker III, 2865 Mt. Aire Rock Lane, Charlottesville, VA 22901. (202) WANTED: Bank of Singapore issues. 1837-39. Haxby MI-420. Any denominations. Signed or unsigned, single notes or sheets. F or bet- ter. Trevor Wilkie, PO Box 182, Cammeray, NSW, 2062, Australia. Phone Fax ++61-2-9438-5040. Buying & Selling National Bank Notes, Uncut Sheets, Proofs, No. 1 Notes, Gold Certificates, Large-Size Type Error Notes, Star Notes. Commercial Coin Co. P.O. Box 607 Camp Hill, PA 17001 Phone 717-737-8981 Life Member ANA 639 CANAD IAN BOUGHT AND SOLD • CHARTERED BANK NOTES. • 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 (925) 946-0150 Fax (925) 930-7710 LIFE MEMBER A.N.A. #1995 C.N.A. #143 C.P.M.S. #11 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 • I N C P.O. BOX 84 • NANUET, N.Y 10954 BOOKS ON PAPER MONEY & RELATED SUBJECTS The Engraver's Line: An Encyclopedia of Paper Money & National Bank Notes, Kelly $45 Postage Stamp Art, Hessler $85 U.S. National Bank Notes & Their Seals, Prather 40 Comprehensive Catalog of U.S. Paper Money Paper Money of the U.S., Friedberg 24 Errors, Bart 35 Prisoner of War & Concentration Camp Money of the The Comprehensive Catalog of U.S. Paper Money, Hessler 40 20th Century, Campbell Small-Size U.S. Paper Money 1928 to Date, Oakes & 35 U.S. Essay, Proof & Specimen Notes, Hessler 19 Schwartz, Softbound 25 The Houston Heritage Collection of National Bank World Paper Money, 7th edition, general issues 55 Notes 1863-1935, Logan 25 World Paper Money, 7th edition, specialized issues 60 10% off five or more books • SHIPPING: $3 for one book, $4 for two books, $5 for three or more books. All books are in new condition & hardbound unless otherwise noted. CLASSIC COINS - P.O. BOX 95 - ALLEN, MI 49227 BUYING / SELLING: PHONE or FAX BARRY WEXLER, Pres. Member: SPMC, PCDA, ANA, FUN, GENA, ASCC (914) 352.9077 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. PAPER MONEY • May/June 1999 • Whole No. 201 95 AD INDEX ALLEN'S COIN SHOP 92 BOWERS & MERENA GALLERIES IBC BERGS 96 N.B. BUCKMAN 80 COMMERCIAL COIN CO. 94 CLASSIC COINS 95 DENLY'S OF BOSTON 92 EARLY AMERICAN NUMISMATICS 77 RICHARD T. HOOBER 83 HORDWEDEL, LOWELL C. 92 HUNTOON, PETER 92 JONES, HARRY 95 KAGIN, A.M. 84 KRAUSE PUBLICATIONS OBC LAMB, PHILLIP B. 96 MOORE, CHARLES D. 95 MORYCZ, STANLEY 87 NUMISVALU, INC 95 OREGON PAPER MONEY EXCHANGE 96 PARRISH, CHARLES C. 80 PHEATT, WILLIAM H. 96 SHULL. HUGH 66 SLUSZKIEWICZ, TOM 83 SMYTHE, R.M IFC YOUNGERMAN, WILLIAM, INC. 88 96 May/June 1999 • Whole No. 201 • PAPER MONEY 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. Superb, Friendly Service. Displaying at many major trade shows. PHILLIP B. LAMB P.O. Box 15850 NEW ORLEANS, LA 70175-5850 504-899-4710 QUARTERLY PRICE LISTS: $8 ANNUALLY WANT LISTS INVITED APPRAISALS BY FEE. CURRENCY CHECKLIST UNITED STATES SMALL SIZE By TYPE. 1928 to Date. Legal Tender—Silver Certificates Gold Certs.—Hawaii—North Africa NBN—FRBN—FRN. 3 3/4 x 7 3/4 in. $10.95 postpaid. SPMC. BERGS P.O. Box 1732, Bismarck, ND 58502 Bank History Books • Published Bank Histories, over 200 Different, from Almost all States and Canada, 1882 to Present. • State and Regional Banking Histories, over 40 Different, mid-1800s to 1920s • Bank Directories & RR Manuals, Occasionally • Research Materials, Collateral Items for your Paper Money or Check Collection • Inquire by Author, Bank Name, or State of Interest OREGON PAPER MONEY EXCHANGE 6802 SW 33rd Place Portland, OR 97219 (503) 245-3659 Fax (503) 244-2977 Buying & Selling Foreign Banknotes Send for free List William H. Pheatt 6443 Kenneth Ave. Orangevale, CA 95662, U.S.A. Phone 916-722-6246 Fax 916-722-8689 4702r1Z=D' .1101 lit•:111 Na I tall": Realize Top Market Price for Your Paper Money! The currency market is hot! In recent months we have seen a tremendous amount of buying activity and invite you to jump on the bandwagon. Consider selling your important notes and currency items in one of our upcoming auctions to be held in New York City or in conjunction with the Suburban Washington/Baltimore Convention. The same bidders who helped set world record prices in our recent sales will compete for your currency items as well. Call Q. David Bowers, Chairman of the Board, or John Pack, Auction Manager, at 1-800-458-4646 to reserve a space for your material. We can even provide a cash advance if you desire. It may be the most financially rewarding decision you have ever made. A cut sheet of four $10 Legal Tender notes. F-123 in Average New to Choice New realized $17,600. A $5 Federal Reserve Bank note. F-782* in EF realized $7,150. A $10 Silver Certificate. F-1700 in Gem New realized $8,800. A $100 One-Year Note, believed to be unique, realized $8,250. An Interest Bearing $5,000 Proof Note realized $11,000. An Uncirculated Lazy Two $2 note from the State of Missouri, Town of California realized $4,840.Auctions by Bowers and Merena, Inc. Box 1224 • Wolfeboro, NH 03894 • 800-458-4646 • FAX: 603-569-5319 • www.bowersandmerena.com rause Publications provides collectors with unbiased and insightful information for true hobby enjoyment. We offer: • Over 45 years of committed service • Accurate, reliable price guides, updated regularly • Insightful and experienced columnists • Dependable, respected advertisers So relax! Experience true hobby enjoyment all year long with the most committed and dedicated hobby publications in numismatics. NUMIS TIC NEWS • COINS • COIN PRICES .4 WORLD ,:!OIN NEWS • BAN OTEREPORTER FINE NUMISMATIC OOKS When You Think Numismatics.. . Think krause publications For Order Information Call Toll-free 800-25 29 M-F, 7 am - 8 pm; Sat., 8 am - 2 pm CT Jet Visit and order from our secure website: www.krause.com If you collect it — you will find it: vv ww.collectit.net