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Coltrane Collection Draws Nearly $2.6 Million

1723 South Carolina 10 Shillings note. (All images courtesy of Heritage Auctions)

1723 South Carolina 10 Shillings note. (All images courtesy of Heritage Auctions)

The Mike Coltrane Collection Part 1 was offered at the November 4-5 auction. There were several notes that interested me because of their wonderful engravings, including a “Spread Eagle” $100 Legal Tender Note. The history represented by the signed, South Carolina 10 Shillings 1723 uniface Colonial bill or credit is significant.

The five lots I kept my eye on were numbers 25008, 25034, 25105, 25111, and 2591. I will start with lot number 25034, a United States, Act of February 24, 1815, $3 Treasury Note dated March 25, 1815. The War of 1812 note is the only known $3 bill issued by the United States government. Graded by PMG a Very Fine 25, there is foxing apparent. Estimated at $150,0000-$250,000, the note realized price fell within its estimate at $168,000.

United States, Act of February 24, 1815, $3 Treasury Note.

United States, Act of February 24, 1815, $3 Treasury Note.

The second lot I followed, was 25008, a 1723 South Carolina 10 Shillings note attributed to the Newman Collection. Engraved by John Massey, the Fr. SC-27, is graded by PCGS as Apparent Very Good 10. Sold in 2017 for $9,600, the note hammered in higher this time at $13,200.

$100 1863 Legal Tender note with engravement work by Joseph Ourden.

$100 1863 Legal Tender note with engravement work by Joseph Ourden.

The third note I watched, lot 25105, a $100 1863 Legal Tender graded by PMG a Choice Very Fine 35. Regarded for the quality engravement work by Joseph Ourden on the front and back, this auction highlight note estimated at $50,000 - $75,000 sold above estimate for $87,000.

$50 Act of March 3, 1863 Two-Year 5% Interest Bearing Note.

$50 Act of March 3, 1863 Two-Year 5% Interest Bearing Note.

The fourth note I observed was lot 25111, a Fr. 203 $50 Act of March 3, 1863 Two-Year 5% Interest Bearing Note dated April 1, 1864. Graded by PMG a Very Fine 30. Another intricately engraved item in the collection, this note’s plates were engraved by American Bank Note Company, New York. Estimated at $120,000-$180,000, the lot sold below the estimate at $96,000.

Second National Bank, Danville, Illinois, $50 1875 National Bank Note.

Second National Bank, Danville, Illinois, $50 1875 National Bank Note.

The final lot I covered was number 25191, a beautifully engraved Fr. 451, Second National Bank, Danville, Illinois, $50 1875 National Bank Note. Graded by PMG at 30 Very Fine, the note estimated at $50,000-$75,000 sold slightly above its high estimate for $78,000.

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