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Knight CPMX auction showcases rare paper money

Opening with world bank notes and then moving into U.S. notes from Colonials through large-size type and Nationals, Lyn Knight Currency Auctions’ March 18-20 sale promises something for everyone.

The Knight auction is to be held at the Crowne Plaza O’Hare, 5440 N. River Road in Rosemont, Ill., in conjunction with the 16th Annual Chicago Paper Money Exposition.

The first session, slated for 6 p.m. on March 18, features what Knight termed the firm’s largest offering of world bank notes to date.

The March 19 second session, at 6 p.m., promises to draw attention as it opens with a 200-lot Costa Rican note offering considered one of the finest collections known. These will be followed by U.S. notes, starting with Colonials, Continental currency, obsoletes, Confederate, Fractional and Military Payment Certificates, including some high quality examples of regular issues and replacements.

The small-size (current size) U.S. currency will be headed up by a $10,000 Federal Reserve Note note from the Binion hoard graded 64 and estimated to bring in the $100,000 range. Also up for bid are interesting serial number notes, stars and errors.

The March 20 third session, at 6 p.m., will feature large-size U.S. type notes including an Fr. 180 $100 Legal Tender, graded VF-35 by the Professional Coin Grading Service, and an Fr. 378 $100 1891 Treasury Note in fine.

$20 Technicolors in Paper MG-67 and -65 are included. Also featured is a run of circulated type notes.

 National Bank Notes will likely lead the evening and include uncut sheets crossing the block for the first time.

Individual note highlights follow:

• Fr. 378 $100 1891 Treasury or Coin Note, PMG VF-20 Restored, estimated at $150,000-250,000. “The open back 100 Treasury note is far rarer than the early Watermelon issue of 1880,” according to the cataloger. “There are only 12 examples known, including five in institutions, leaving collectors seven examples with the finest grading VF/XF.” This example is one of four “found pinned to a drifter’s coat.”

• Fr. 180 $100 1880 Legal Tender Bruce-Roberts. “This is one of the rarest of the Lincoln $100 Legal Tender notes,” according to the cataloger. “There are a total of seven notes in existence today with three remaining in government institutions, doubtful to ever be sold.” This specimen, estimated at $90,000-$150,000, is the second finest known.

• $5 1882 Brown Back First National Bank of Huron, Territory of Dakota, VF, J.W. Campbell-president, J.W. Smith- cashier. “This bank was organized on May 19, 1882, and went into receivership on March 14, 1924. The bank issued 2,425 sheets of $5 Brown Back Territorials and this is the only example known to have survived.” Estimated at $40,000-60,000.

• Unique Fr. 517/529 $50/100 1882 Brown Back uncut sheet, Corn Exchange National Bank, Chicago. “This is the only two-note uncut sheet known to have survived intact. This bank was chartered in 1897 and liquidated in 1924.” Estimated at $125,000-$250,000.

For additional information, contact Lyn Knight Currency Auctions, P.O. Box 7364, Overland Park KS 66207-0364; telephone (800) 243-5211, or (913) 338-3779. Lots may also be viewed and bid on online at www.lynknight.com.

More Resources:

• Subscribe to our Coin Price Guide, buy Coin BooksCoin Folders and join the NumisMaster VIP Program

2010 U.S. Coin Digest, The Complete Guide to Current Market Values, 8th ed.

State Quarters Deluxe Folder By Warmans

Standard Guide to Small-Size U.S. Paper Money, 1928 to Date

Strike It Rich with Pocket Change, 2nd Edition

 

 

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