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Krause notes propel Stack

The Wisconsin obsolete bank note collection of Numismatic News founder Chester L. Krause helped propel auction prices realized to nearly $9 million at Stack’s Americana Sale held Sept. 23-26 in Philadelphia.

A record price for a silver U.S. medal was also established at this, the official auction of the Whitman Coin and Collectibles Expo.

Among the 350 Krause lots, an Oneida Bank proof sheet brought $23,000 while a Farmers Bank at Hudson color proof sheet was bid to $17,250.

A Waupun Bank “Santa Claus” proof note fetched $16,100.

It was a large-size Thomas Jefferson Indian Peace medal struck as thin silver shells that is the most avidly sought after size of three, according to Stack’s. The final bid of $345,000 nearly doubled its original estimate and set the record for the most expensive silver U.S. medal ever sold at auction, the firm noted.

There were nearly 100 Betts medals in the sale, over 20 Indian Peace medals and a number of U.S. Naval medals.

A 1906 Indian Head cent struck in gold brought $276,000.

Likely unique, the piece was graded AU-58 by Numismatic Guaranty Corp. This off-metal strike was probably struck on a planchet intended for the gold $2.50 denomination, the firm said.

Among gold coins, a 1908 $20 gold piece with the “In God We Trust” motto, graded Proof-66 by NGC saw the auctioneer’s hammer fall at $69,000.

For further information, write Stack’s at 123 W. 57th Street, New York, NY 10019. Telephone (800) 566-1580, or visit the Web site at www.stacks.com.

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