Indholdsfortegnelse for May 2024 i Banknote Reporter

After the Japanese attack on Pearl Harbor and Declarations of War on Japan and Germany, United States officials were concerned about the possibility of an invasion of the Hawaiian Islands. This would allow Japan to seize United States assets. So, all United States currency was collected from residents to prohibit Japan’s use of them to purchase war materials, as Germany had done in their conquests in Europe. This currency was burned. One wonders how many $1 1928 C, D, and E Star notes went up in flames. The currency was replaced with new specially marked notes of $1, $5, $10, and $20 for use in Hawaii, so they could be demonetized if Japan should occupy Hawaii. All the notes had Hawaii printed in large letters across the back of the…

Most of you are aware that you can view the certified proofs for all the Series of 1875, 1882, and 1902 national bank note face plates on either the Smithsonian website or more easily on the Society of Paper Money Collectors website. Occasionally you will run into a proof such as illustrated here that has numbers written next to the bank-specific items. These are roll numbers for the rolls that were used to lay in the adjacent text. The numbers on this Hooper proof from top to bottom are: 15676 – Elliott signature including title 15481 – Burke signature including title 4983 – Hooper in its tombstone 15804 – script Hooper 13661 – Nebraska 15805 – script March 26, 1920 15759 – charter number 5297 If you aren’t familiar with…

Collectors of Civil War currencies can walk a thin line between numismatics and philately. During the Civil War, the American economy was in complete disarray. Because of a severe shortage of coinage throughout the nation, many people started using various forms of payment for their daily necessities. Copper tokens, partially or entirely modeled like U.S. cents, were widely used. On July 17, 1862, Congress signed into law an act that gave the Treasury Department the authority to issue “postage currency.” The postage currency utilized the then-current postage stamp design, printing them on Treasury paper. People generally interpreted this to suggest that postage stamps could be used as legal tender, but the fragile stamps were not suited for the rough handling that currency typically endured. They were thin and easily damaged,…

According to the Federal Reserve, the lifespan of a $20 bill is approximately 7.8 years. However, Ronald McKernan’s recent ATM withdrawal included a note that defied those expectations by nearly 70 years. After withdrawing $100 cash to spend on an upcoming vacation, McKernan noticed that one of the $20 bills he had received from the bank looked and felt different from the rest. He shared his find on Reddit, where it was upvoted more than 20,000 times. It also initiated quite a bit of discussion. One Redditor noted that the Series 1934C $20 bills were printed between July 1946 and May 1949, although some sources state that the 1934C $20 bill featuring the old reverse was printed on January 7th, 1947, while the new reverse was printed on July 27th,…

The Stack’s Bowers Galleries Spring 2024 Showcase Auction saw intense collector interest, realizing $32 million over 14 sessions of U.S. coins, bank notes, numismatic Americana, and physical cryptocurrency. Included were two live U.S. currency sessions in which several historic rarities realized strong bids against their initial estimates. Many Legal Tender rarities attracted strong prices, including $96,000 for lot 21084, a Fr. 148a 1862 $50 Legal Tender Note assigned a grade of Very Fine 30 by PMG with a comment and net designation for “Repaired.” A rare type and denomination even in its own time, this example represents the finest of two known recorded examples for the individual Friedberg number. Lot 21007 a Fr. 19 1874 $1 Legal Tender Note assigned a grade of Superb Gem Uncirculated 67 EPQ by PMG…

Canada has withdrawn its $1,000 bank note. The €500 bank note has been withdrawn by the European Union. The United States no longer issues any denomination bank note over $100. India is now completing the process of withdrawing its ₹2000 (rupee) bank notes. In each situation, the reasoning behind the withdrawal of particularly high-value bank notes has varied to some amount, but in all cases, the illegal or corrupt use of these notes has been a factor that led to their demise. India’s ₹2000 denomination was introduced in 2016 following the withdrawal of and demonetization of the 2016 series of ₹1000 and ₹500 notes. There was almost no warning the two note denominations were about to be demonetized. On Nov. 8, 2016, the central bank announced both note denominations would…

Mavin held an auction featuring hundreds of bank notes and coins from around the world, with a focus on Southeast Asian rarities. The notes and coins were offered in Mavin’s Auction 65, which was held on April 20, 2024. Among the top lots for bank notes was a Malaysia, Bank Negara ND (1983-84) 1,000 Ringgit Specimen graded PMG 58 Choice About Uncirculated NET (lot 285), with an estimate of at least 6,500 SGD (about $4,800). Featuring an image of Malaysian Prime Minister Tuanku Abdul Rahman on the front and Malaysia Houses of Parliament building on the back, this is the highest denomination available for this series of notes. There are only 13 examples of this particular catalog number in the PMG Population Report. Other notes in this auction included: •…

Widespread counterfeiting of the first three Fractional issues led to the creation of 4th issue notes. Introduced in July 1869, the 4th issue Fractional denominations included the 10-cent Liberty, 15-cent Columbia, 25-cent Washington, and 50-cent Lincoln, Stanton, and Dexter. There were three steps taken by the U.S. Treasury to create a 4th issue Fractional: the obverse design, the reverse design, and the addition of a seal. The notes also included a more sophisticated manufacturing process, with embedded color fibers in the paper, ornate engraving and the inclusion of a Treasury seal. Arguably the most beautiful of all Fractionals is the Lincoln note (Fr. 1374), with its magnificent portrait of our 16th President gracing the front. Engraved in 1869 by one of the Treasury’s principal engravers, Scottish-born Charles Burt, it shows…

The focus of this article is intermediate size back plate serial number 1597 on $10 1950A, B, and C FRNs, a variety that few people know about because nothing much has been written about it. Decades ago, someone pointed out 1597 on the back of a $10 Federal Reserve note from the 1950 series. Here is what I learned about it. The notes bearing the variety were printed from an 18-subject flat plate. Those were the last plates used to print notes on wetted paper. Consequently, the notes bearing the variety have terrific eye appeal characterized by crisp inks and paper that possesses a distinctive crackling texture and feel when new. Many collectors of Small Size notes refer to notes printed on wetted paper as coming from the classic small…

A vintage Netherlands Indies rarity was the top highlight among an incredible assortment of more than 450 bank notes in a Crown Currency sale. Focused on the Netherlands and with a particularly strong group of bank notes from its former colonies, Crown Currency Live Auction 28 concluded on April 23, 2024. Highlighting the sale was a Netherlands Indies, Javasche Bank 1914-19 1,000 Gulden graded PMG 15 Choice Fine NET (lot 71). This high-denomination bank note was issued by Javasche Bank, an institution that served the Netherlands Indies, which became the independent nation of Indonesia after World War II. This is one of only two examples of this bank note found in the PMG Population Report and bidding had already reached €4,000 (about $4,300) two weeks before the sale. Other bank…

Coin and bank note collecting is part of the same numismatic animal, or are they? Since my interest in paper money is primarily in researching the story behind the individuals who signed a short snorter, the increase or decrease in the value of bank notes is something I am still learning as I post the prices offered here. No one really cares about the condition of a short snorter—the value is in who signed the note or what can be learned from it. It is challenging to determine a generic value for a National considering people tend to collect notes issued by a bank in their favorite city rather than seek a generic National. Other areas such as Small Size Federal Reserve notes are easier to value. The value of…