The paper money market still glowed hot in late November at the annual St. Louis show. Paper money collectors and dealers were in top spirits.
Sponsored by the Professional Currency Dealers Association, the National and World Paper Money Convention ran Wednesday-Saturday, Nov. 16-19, at the St. Louis Airport Hilton.
Catching the eye of more than one visitor to the bourse was a crisp uncirculated 1891 $50 Treasury Note that Judy Kagin of Kagin’s said is valued around $250,000. Kagin’s has offices in Tiburon, Calif., and Des Moines, Iowa.
“The market is very, very healthy and I think most dealers had a successful show,” said market observer Allen Mincho, director of Heritage-Currency Auctions of America. He said large-size type notes in virtually all grades were seeing the most appreciation at this show.
“For me it’s been a great opportunity to buy,” said Tom Denly, of Denly’s of Boston. “I was surprised, really, at how much I was able to purchase. Selling covered the whole gamut of paper money, with emphasis on large type and Fractional Currency.”
Robert Vandevender II and Jim Hodgson, of American Paper Connection, dealers of primarily small-size type notes, said, “We had a very good show filling holes in our inventory, and we found several notes for customers with price lists.” The firm is based in Joliet, Ill., and also does business online at Web site www.americanpaperconnection.com.
A two-session auction at the show was conducted Thursday and Friday evenings by Lyn Knight Currency Auctions. This sale followed the firm’s blockbuster Rickey sale by just a month. It realized more than $1.7 million, including 15-percent buyer fees.
“Quality reigned supreme. I’m looking forward to putting together a great sale for the Chicago Paper Money Expo,” said Lyn Knight.
“I think the distinguishing aspect of this show is that we’ve had the strongest educational component,” said Kevin Foley, bourse chairman of the show. “We are looking forward to returning to the St. Louis Airport Hilton next year in the weekend prior to Thanksgiving.”
Next year’s PCDA show is scheduled for Nov. 15-18 at the St. Louis Airport Hilton. For information, contact General Chairman Ron Horstman, P.O. Box 2999, Leslie, MO 63056; or Bourse Chairman Kevin Foley, P.O. Box 573, Milwaukee, WI 53201; telephone (414) 421-3484; e-mail email@example.com.