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$10 gets $45,000

An 1864 $10 Compound Interest Bearing Note, Fr. 190b, brought a hammer price of $45,000 in Lyn Knight Currency Auctions’ CPMX 2012 sale in Rosemont, Ill.

The sale was held from March 8-10 at the Crowne Plaza O’Hare in conjunction with the 18th Annual Chicago Paper Money Expo.

Prices listed here do not include the 15-18 percent buyer’s premium.

Graded Gem CU, the 1864 $10 was cataloged as the finest known and a extreme rarity in high grade.

“The existence of a Compound Interest Treasury Note in this condition was not even rumored until this incredible piece turned up,” the cataloger wrote. “In fact, of the nearly 200 Compound Interest Treasury Notes of all dates and denominations, there is only one uncirculated example and two AUs, which are in the ANA Museum.”

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Bringing a hammer price of $40,000 was an 1862 $100 Legal Tender Note, Fr. 165, in PCGS VF 25 Apparent. “This is the type note that the most people seem to feel is necessary to obtain. Everyone likes Spread Eagle $100s. There are only 13 serial numbers recorded for this, the earliest variety listed.”

Hammered at $38,000 was an 1882 $100 Gold Certificate, Fr. 1211, in PCGS Gem New 65 PPQ. A new addition to the census, it is believed to be the finest known.

Another Gold Certificate, this one an 1882 $50, Fr. 1189a, in PCGS Apparent VF 30, was bid to $26,000. “This lovely triple signature Gold note has the signatures of Thomas Actor, B.K. Bruce and James Gilfillan. The census indicates 12 notes reported from all sources.”

Among a large number of Michigan National Bank Notes, a unique 1882 $10 Brown Back from the First National Bank of White Pigeon, Mich, charter 4527, went for $32,000. From the Dr. Wallace Lee collection, “this note is so rare that no one has seen it publicly offered before. The bank only operated from 1891 to 1900 and printed just 2,194 sheets.” It carried pen signatures of J.N. Watson and T.E. Clapp.

From the James W. “Billy” Key collection, a serial No. 1 experimental set of 1928 $1 Silver Certificates went for $22,000. “One of the centerpieces of Billy’s collection, this set came from the #1 – #100 pack formerly owned by Aubrey Bebee… This is the single most coveted set of serial #1 Silver Certificates.”

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Among errors, a pack of 100 consecutive $1 2003A “B” New York mismatched serial numbers sold for $45,000.

“Here is an amazing opportunity for a collector or marketer to obtain a complete consecutive pack of 100 MISMATCHED serial #B71101001B/1101B through B71101100B/1201B. Packs of mismatches are few and far between but the quality of this pack is the key.” More than half of the notes were graded 68 and the pack included a 69, “which represents the finest mismatch ever graded.”

World notes were represented by offerings that included a rare Palestine Currency Board 8a 5 pounds, Sept. 1, 1927 in fine. It was described as “the key date for this series” and went for $30,000.

For additional information, contact Lyn Knight Currency Auctions, P.O. Box 7364, Overland Park, KS 66207; telephone (913) 338-3779; or visit www.lynknight.com.

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