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Rare paper money goes up for bids

Lyn Knight Currency Auctions
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Lyn Knight Currency Auctions? Nov. 8-9 auction in St. Louis, Mo., features the serial No. A1 1882 $20 Gold Certificate and serial No. 1 Original Series Lazy Deuce from New Mexico Territory.

This variety of the No. A1 1882 $20 Gold Certificate, Krause-Lemke 551, Friedberg 1175, has never been offered at public auction before, according to Lyn Knight.

?Not even the great collection of Albert Grinnell or the vast holdings of Harley Freeman or Amon Carter ever had the opportunity to consider buying this amazing piece of paper money,? Knight said.

The sale catalog states:

?The Gold Certificates were part of nine issues, but only four issues circulated widely. The first of those was the Fourth Issue, commonly known as the 1882 Series, which was authorized in denominations from $20 to $10,000, and was the first to have wide circulation. This is the first note issued and printed for this series, and it is the top note from the first sheet. Only one other example, with the hand-signed signature of Thomas Acton, has ever survived. ...

?The historical context of the issue of these first circulatory Gold Certificates is without a doubt the reason this note was saved, and obviously carried as one can see from the folds. There is one other hand-signed example, serial #A2205, from this very short issue that is in similar condition, graded very fine by Ossie (dealer V.H. Oswald) in March 1996. ...

?The condition is very fine with several minor edge splits along the upper border that have been restored to near perfection.?

Of the No. 1 Original Series $2 from the First National Bank of Santa Fe, Territory of New Mexico, charter 1750, Knight wrote:

?The First National Bank of Santa Fe was chartered on Dec. 13, 1870, nearly five years after the First National Bank of Denver was chartered, and those two banks are the only banks in the nation to have saved serial No. 1 Lazy Deuces as we know today. ...

?This is the finest of the four Deuces known, and the only No. 1 large-size in the records. There were 5,000 $2 bills printed in the Original Series and 3,500 of the Series of 1875, but none of the latter are known to have survived.

?Life was tough in New Mexico Territory in 1870 and $2 was a bunch of money. Few people, other than Lucien Maxwell, could have afforded to save this rarity. Even if you collect the $1 serial No. 1 Territorials you can only add three more notes ? a Yankton, Dakota and two Salt Lake City notes.

?In my mind, this is absolutely one of the most important National Bank Notes historically known. The note is evenly circulated, with good color and bold, clear signatures.?

Knight?s sale at the Professional Currency Dealers Association?s National and World Paper Money Convention will offer more than 2,700 lots, with large-size type and National Bank Notes selling on Friday (1,500 lots) and the rest starting Thursday evening (1,260 lots).

The Thursday session begins with a varied collection of small-size U.S. currency including a $10,000 Federal Reserve Note from the Boston district graded Choice Uncirculated-64 EPQ by Paper Money Guaranty, and a large selections of small Federal Reserve Notes and a collection of uncut sheets, including 1928E, 1928D and 1928C $1 Silver Certificates.
The second part of the Herb and Martha Schingoethe collection of College Currency will be offered.

Large-size notes comprise more than 650 lots in all price ranges from the most common to the rarest, Knight commented.

National Bank Notes include part two of the Connecticut collection, as well as material from the Joe Hensley estate.

Sale sessions are scheduled to begin at 6 p.m. on Thursday and Friday, Nov. 8-9, in the Grand Ballroom of the St. Louis Airport Hilton Hotel.

Lots will be available for viewing at the show, and the catalog will appear online at

For more information, contact Lyn Knight Currency Auctions, P.O. Box 7364, Overland Park, KS 66207; telephone (913) 338-3779; e-mail