Large-size note rarities led results in Lyn Knight?s bank note auction at the Chicago Paper Money Expo March 9-10.
Top price in Lyn Knight?s CPMX auction March 9-10 was $345,000 bid for a $20 Gold Certificate of 1863 graded very fine by the auction firm.
Top single contributor to the full-sale total realization of $6,734,241 was an 1863 $20 Gold Certificate. Graded very fine by the cataloger, this example was described as previously unknown to the hobby. It surfaced in New Hampshire, the cataloger said, and has had ?minor splits and tears professionally closed to prevent any spreading.?
Classifed as Krause-Lemke 550, Friedberg 1166b, the 1863 $20 sold for $345,000.
All prices reported here include the 15 percent buyers? fees.
An 1880 $1,000 Legal Tender Note, KL-979, Fr. 187j, was next at $258,750. It was graded Very Fine 30 by Paper Money Guaranty.
That $1,000 was part of a collection of high denomination notes in the sale. Also part of the collection was a small-size 1934 $5,000 from the St. Louis Federal Reserve district that hit $149,500. It was graded Gem Uncirculated 65 EPQ by PMG. A second 1934 $5,000 Federal Reserve Note, this one from the Dallas district and graded Very Choice Crisp Uncirculated 64 by PCGS Currency, realized $109,250.
A large-size $1,000 Federal Reserve Note of 1918, KL-1022, Fr. 1133D, from the collection graded Very Choice New 64 PPQ by PCGS Currency reached $97,750, the same price paid for a 1918 $500 FRN, KL-965, Fr. 1132L, graded Gem New 65 by PCGS Currency.
Getting away from the high denominations, an 1878 $50 Silver Certificate, KL-708, Fr. 324c, called very good by catalogers, sold for $230,000 while another large-size $50, this one an 1865 Interest Bearing Note, KL-692, Fr. 212d, graded Very Fine 20 by PMG, went for $80,500.
Top National Bank Note realization was $109,250 for a Wyoming Territory $5 of 1875 from the Wyoming National Bank of Laramie City. It was graded choice about uncirculated by the cataloger.
Next among Nationals was a 1902 $10 Date Back from the Yuma National Bank, Yuma, Ariz. With a grade of choice CU from the cataloger; the note brought $82,800.
Another Arizona note, this one from the Territory of Arizona, sold for $49,450. It was an 1882 Brown Back $10 from the Prescott National Bank graded VF.
An uncut sheet of four 1882 Brown Back $10s from the First National Bank of Parsons, Kan., termed choice AU went for $48,300.
Rounding out National Bank Notes are two from the state of Wyoming. First is a 1902 $20 Plain Back from the First National Bank of Manville, graded fine+, that reached $44,850. Second is a 1902 $10 Plain Back from the First National Bank of Lusk, graded fine, that changed hands at $43,125.
The Michigan section of National Bank Notes was anchored by pair of significant consignments, the Lee DeGood collection of Lower Michigan notes and the Bill Brandimore collection of Upper Michigan notes. Along with some other consignments, the Michigan section as a whole realized about $765,448.
Small-size U.S. type notes were highlighted by a 1929 $20 Federal Reserve Bank Note from the Dallas district that was also a star note. Graded fine, it sold for $7,475.
A serial No. 1 1969A $1 Federal Reserve Note called choice CU fetched $5,520, and a 1934A $1,000 Federal Reserve Note from the Minneapolis district, graded Very Choice CU 64 by PCGS Currency, brought $5,061.15.
A 1928 $500 Federal Reserve Note from the Kansas City district graded Gem New 65 by PCGS Currency reached $4,600.
Additional prices realized are available at Knight?s Web site, www.lynknight.com.
There were 509 successful bidders out of 592 registered to participate in the auction.
Knight?s next two paper money sales are currently scheduled to take place at his Lenexa, Kan., auction facility. The firm is also conducting a postcard auction in mid-April.
For more information, contact Lyn Knight Currency Auctions, P.O. Box 7364, Overland Park, KS 66207; telephone (800) 243-5211 or (913) 338-3779; e-mail email@example.com.