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Silver Certificates Strong at ANA Sale
By Bill Brandimore, Bank Note Reporter
September 10, 2013

This article was originally printed in Bank Note Reporter.
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The August American Numismatic Association auctions by Stack’s Bowers Galleries offered a wide range of desirable notes. Interesting in the Fractional Currency venue were a number of notes with penciled notations on the backs. These were pedigreed to F.C.C. Boyd, a noted collector in the early 20th century. At that time many collectors noted catalog numbers from Valentine or Wayte Raymond on their notes. I have several such notes in my collection. These, however, are extra special given the Boyd pedigree.

Boyd had access to many early collections and saved some amazing material that was then further preserved by New York City dealer John J. Ford. These notes were offered Aug. 15t as Part XXII of the Ford collection, which Stack’s has been offering over several years, given the extent of Ford’s holdings. Boyd is so special to collectors that the major Fractional collector group, the Fractional Currency Collectors Board took its name from Boyd’s initials.

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In the various currency auctions at the show, large-size type prices seemed mostly higher, with some true rarities in the offing. These prices even stood up strong against a number of net grades that indicated various failings in the condition of the notes. The Dr. Edward and Joanne Dauer Silver Certificate collection featured a complete type set of large-size Silver Certificates, many of them significant rarities. These notes were featured in American History As seen Through Currency, a book that was published a few years ago featuring their entire collection of U.S. large-size notes. Many of these Silver Certificates brought great prices.

Especially interesting were a run of 1880 $10 and 1878 $20 Silver Certificates. These notes are rarely seen in high grade and while some were net graded, a number of them were very nice for the grade. They included an apparent Fine 15 1878 $20 Silver Certificate, unique in private hands, KL576/F306, a Stephen Decatur note that brought $85,188. A similar note, KL575/F305 in apparent Very Fine 20 with edge restorations was hammered down at $58,750. This note is one of three known and is a hand autographed triple signature variety.

In the $10 denomination an 1880 Robert Morris note, KL407/F284 was hand autographed by Treasury official J.C. Hopper and sold for $38,188 in net Very Good 10 grade. It features significant repairs but its rarity overshadows condition. Previous owners include Albert Grinnell and Amon Carter. This run of Silvers continued in much the same fashion with rare $50 and $100 Silver Certificates as well.

Other treats in this Stack’s Bowers auction featured the Oat Bin hoard $1,000 Legal Tender note, KL968/F186c, which generated a price of $881,250. All these prices included buyer’s fees. This note is unique and previously sold for $650,000. It was discovered along with a number of other notes in a jar in an oat bin on a Missouri farm in 1966. The portrait features U.S. Senator Robert Morris, who was also a signer of the Declaration of Independence and established the Bank of North America.

To say that these auctions were exciting would be an understatement. One thing can always be said for the ANA show: Great material seems always to be on display. If you didn’t make it this year, shoot for next year.

Write me at billbrandimore@charter.net with your questions and comments.



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