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1861 Demand Note makes auction debut

The finest known Fr. 10 $10 1861 St. Louis Demand Note will makes it first public auction appearance as part of Heritage Auctions’ Eric P. Newman VIII Currency Signature Auction, slated for Nov. 1-2 in Dallas. The rarity, one of only four known, was acquired by Newman from D.C. Wismer in 1938 and is estimated to bring $125,000 to $250,000.

“Only 48,000 $10 St. Louis notes were printed,” according to the lot description, “with this No. 47760 example, the highest serial number of the four known, virtually the end of the print run.”

 Only four specimens are known of this 1861 Demand Note. It was obtained in 1939 for $125.

Only four specimens are known of this 1861 Demand Note. It was obtained in 1939 for $125.

“All Demand Notes are rare,” it continued, “but with only four examples known, the Fr. 10 is one of the rarest Federal type notes in existence. Eric P. Newman acquired this museum-caliber treasure privately from Obsolete currency legend David C. Wismer in July 1939 for $125.00.”

Of the other three known examples, one is in the American Numismatic Association’s Money Museum. “The other two are closely held in private collections, cherished by their owners.” The rarity is graded PCGS VF-30.

Other top lots in this sale include:

• Colony of New York Nov. 1, 1709 Lyon dollars or 11 Ounces of Plate, Fr. NY-11, PCGS About New 53 PPQ, $20,000 to $40,000 estimate;

• Colonial, South Carolina Aug. 27, 1715 Act, four pounds, Fr. SC-17, PCGS Fine Apparent, $20,000 to $40,000 estimate;

• Confederate, T4 1861 $50 Montgomery, PF-2, Cr. 4, PCGS Choice About New 55, $20,000 to $40,000 estimate;

• Colonial, North Carolina 1729 five pounds handwritten bill, Fr. NC-34, Extremely Fine 40 Apparent, $15,000 to $30,000 estimate;

• U.S. Treasury Department, War of 1812 Treasury Note, Fr. TN-14a, $10 March 25, 1815 “Act of February 24,1815” double signature remainder, PCGS Choice About New 58 PPQ, $10,000 to $20,000 estimate;

• Colonial, State of Vermont, February 1781 two shillings six pence, Fr. VT-3, PCGS Extremely Fine 40 Apparent, $10,000 to $20,000 estimate;

• Obsolete, California and Salt Lake Mail Line $50 18__ , Rust 107var., Nyholm 145 var. remainder, PCGS Extremely Fine 40, $10,000 to $20,000 estimate.

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• The Standard Catalog of United States Paper Money is the only annual guide that provides complete coverage of U.S. currency with today’s market prices.

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