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Internet drives strong bidding on errors

by Bill Brandimore

First, I need to correct a mistake on the history of Currency Auctions of America and Heritage Currency Auctions. Len Glazer and Allen Mincho corrected me on my history recollections at the PCDA convention in Rosemont, Illinois. CAA started in 1990 and connected with Heritage in 2001. I never dispute Allen’s memory, as I remember meeting him at Memphis years ago. I had purchased notes from him through the mail and when I introduced myself, he said “oh, yes” and recited my address. That’s a memory. The show, as always, was a great experience.

Unfortunately, as a 40 table show it was no longer sustainable financially and will not continue next year. At the show I enjoyed visiting with a Military Fester, Dave Frank. I bought his new book, World War II USA POW & Internment Camp Chits, and enjoyed his talk on that subject at the Chicago Coin Club meeting at the show.

I also visited with Steve Zitowsky and Carl Wolfe at the Chicago Coin Club table. I talked briefly with Donald Kagin and purchased a hand-signed copy of his new book, Treasury Notes of the War of 1812. Don is the current VP of ANA and is running for president of the association. He has some good ideas on bringing in younger members to the ANA.

I was also cheered recently to learn that Cliff Mishler is also running for the board. In prior terms as board member and ANA president, Cliff was a positive force for the association. His business acuity and strength of character make him an excellent candidate for ANA leadership.

I was successful in finding several Canadian notes at the show and my roommates Keith Thode and Terry Kafka also scored notes. At the US portion of the Lyn Knight auction, Continental Currency and Colonials were weak in mid-grade condition with many going to the order. Mid-grade US Large, however, showed some strength.

As usual Small Size Federal Reserve Bank notes were not predictable and showed more strength than the last auction. Star notes in this series are very desirable in all grades. Federal Reserve Notes were mixed, but showed more interest than in recent auctions. Attendance at the auction was sparse and aside from dealers at the auction, most of the bidding came from the internet and the phone and internet bidders fought it out in very strong bidding on errors. An obstructed 1977 Atlanta $20 FRN with mismatched serial numbers and graded 55 EPQ brought $12,000 with auction fees.

A double denomination $20/$10 1974 Dallas issue in 63 PPQ went for @28,800. A double denomination $10/$1 1950A New York FRN in PMG45 scored $43,200 with a $5/$10 1934D Kansas City FRN in 66 PPQ was hammered down at $42,000. Small Size Double denominations are hot! A good primer for these fascinating notes is Fred Bart’s book on error notes. I am now looking toward Central States auctions in late April.

This Heritage auction usually is a highlight before the summer doldrums. This coming Sunday I’m hitting a Windsor, Ontario club show and one in Toronto on May 3 & 4. With Canadian currency down considerably, Canadian auctions and shows are interesting if you collect World currency. Contact me at billbrandimore@charter.net I’d really like to hear from you.

 

This article was originally printed in Bank Note Reporter. >> Subscribe today.

 


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