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Oat Bin $1,000 Tops ANA Sale
By Bank Note Reporter
September 06, 2013

This article was originally printed in Bank Note Reporter.
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An 1863 $1,000 Legal Tender Note was the top lot in Stack’s Bowers sale of rare U.S. and world notes in conjunction with the American Numismatic Association’s World’s Fair of Money, Aug. 13-17, in Rosemont, Ill.

The rarity, Fr. 186c, which went for $881,250 with the buyer’s premium, is “one of three collectible examples with the ‘Morris Design.’” It was discovered in 1966 in a jar containing $40,000 in cash found in an oat bin on a Missouri farm.

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“There are only three types of this note available to collectors, all with the Second Obligation text,” the cataloger observed. “The present note is unique with the March 10th, 1862 date, while the other two are dated 1863.”

It is graded PCGS Fine 15 Apparent with minor edge restorations.

Selling for $352,500 was an 1880 $100 Silver Certificate, Fr. 340, PCGS Extremely Fine 45, the “finest available Roman numeral ‘C’ note.” It was from the Dr. Edward and Joanne Dauer Collection of Silver Certificates.

“The 1880 Silver Certificates are all seen with the famous black back designs which prominently display the word ‘SILVER’ across the back. This $100 denomination from the series is rare in any variety and grade. The only two cataloging numbers that feature this design type with the large brown Treasury seal with Roman numeral “C” below it are this Fr. 340 and the previous lot, Fr. 339. This example represents the finest for the counter aforementioned type as PCGS has only graded three others, a Fine 15, VF 35 and the Very Fine 25 from the previous lot.”

Among world lots, six early high-denomination Turkish notes were the highlight. Chief among these was a PMG graded Very Fine 20 Net, AH1333 (1917) 1,000 livres Ministry of Finance, Pick 107, which brought $52,875. An impaired version of the same note, with “large tape repairs,” sold for $17,625 in a PMG Very Good 10 Net grade.

Four 500-livre notes made up the final lots of the group, with a Pick 107B AH1334 (1918) piece realizing $25,850 in PMG Very Good 10 Net.

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