Indholdsfortegnelse for June 2025 i Banknote Reporter

The Indian Territory is one of my favorites. There were 175 territorial-issuing banks, the largest number for any territory. The territory comes in with the third-highest reported number of territorial notes at 166. Sounds common, but the fact is that the vast majority of those issuing banks were minimally capitalized banks with tiny circulations in towns most people have never heard of. The result is that, on a note-by-note basis, just about every reported Indian territorial is a flaming rarity in its own right. Consequently, when I get wind of a new one, I can’t wait to see where it is from. Jess Lipka dropped a photo of this recent discovery in my lap, and as expected, it is another one-of-a-kind flamer. As I was logging it into my territorial…

I’ve always had a soft spot for “Series of 1929” notes with town names set in plain Gothic type, such as seen on this Blooming Grove, Texas, note. This font was made exclusively, but infrequently, at the Bureau of Engraving and Printing (BEP). It was used to make stopgap plates in the fall of 1929 to maintain production as Barnhart Brothers & Spindler (BB&S)—the firm awarded the contract to supply the Bureau with 1929 logotype overprinting plates—fell behind on deliveries. Later on, the BEP occasionally used the font for rush orders and plates when BB&S went into bankruptcy. Adam Stroup has also avidly sought this variety, and, between us, we think the First National Bank in Blooming Grove is the only bank in the country to have received $50 and…

Upon the death of Queen Elizabeth II, many former British Overseas Territories like Barbados and Belize have chosen not to feature British royalty on their new currency. Rather, the countries are forgoing the new royal portrait of King Charles III for images that better reflect their respective histories and cultures, such as local fauna, indigenous motifs, or illustrations of civic leaders. This trend has recently been embraced by a nation within the British Crown: Guernsey. The island’s government agency, the States of Guernsey, is currently executing a major redesign of its bank notes, and a royal portrait is not in the design plans. Located west of Normandy, France, in the English Channel, Guernsey is the second largest island in the Channel Islands and has been a British crown dependency since…

Gold and more were found at Sedwick Associates' Treasure, World, U.S. Coins, & Paper Money Auction 37. Taking place from May 7-9, the auction offered a treasure chest’s worth of rare coins, ingots, artifacts, and paper money. Many of the coins and exonumia were sourced from shipwrecks, including hoards found in the Caribbean and the coast of Florida. Although not found in the ruins of a ship, the paper currency sold at the event was quite the treasure. Like the other items for sale, this tender originated from equally fascinating origins, such as the Busto Collection, which was created by well-known Puerto Rican-based paper currency collector José O. Busto. The auction offered Busto notes from Caribbean locales such as Cuba and the Dominican Republic, and even the happiest place on…

Did you know that the NumisMaster database provides pricing information for bank notes? Spanning across time and place, NumisMaster’s vast selection of bank notes can be found through its easy-to-use search function in listings that provide all the information a collector needs to value and organize their collection. Recently, NumisMaster’s Jennifer Bushland has added over 1,000 bank note listings to the database and continues to update the site. Here is a small selection of what you can find on NumisMaster.com:…

In the last issue of Bank Note Reporter, I explored 1¢ notes mostly printed in the 19th century. Because of the meager purchasing power, 1¢ notes are quite rare; perhaps 50 varieties have appeared in auction archives. I have taken the next incremental step in this issue by exploring the various issues of 2¢ notes, including 2¢ notes from 1814–1816, sutler notes, and post-Civil War examples. Still quite rare, but not as hard to find as the 1¢ note. Most of the 2¢ notes shown in this article have basic designs. The ornate engraving we see on higher valuation obsolete notes rarely appears on 2¢ notes; a sacrifice merchants and financial institutions had to make considering their tiny value. Even 200 years ago, a 2¢ note did not have much…

Since Spain is a member of the European Union and the EU’s currency union, the financial transactions you make in that country should be easy if you travel from any other EU nation. While Spain subscribes to the EU’s common currency, unfortunately, there are differences in what you can or might not want to use as physical money. The Bank of Spain follows the example of the European Central Bank (ECB), which halted production of the €500 bank note in 2016 due to concerns about criminal activity. The €500 bank note remains legal tender, but it will raise eyebrows should you choose to use one, and many merchants are no longer willing to accept the note. The EU’s highest-value bank note may be under fire in Spain, but so are…

Collectors from the Midwest and beyond were at the annual Central States Numismatic Society’s (CSNS) convention. Celebrating its 86th year, the convention was held on April 23–26 at the Schaumburg Renaissance Hotel and Convention Center. A tradition of the convention is to celebrate currency from one of CSNS’ 13 member states. This year was all about the Cornhusker State, Nebraska. Representing were dealers from the state and two museums (Higgins Museums of National Bank Notes and Durham Museum) that exhibited rare Nebraska money. The event hub was centralized around an active bourse floor, which was filled with over 400 tables of dealers and exhibitors from local and afar. Navigating this vast selection was made easy as the floor was divided by specialties such as world and ancient coins and paper…

It’s been known for a long time that the cost of producing our 1¢ and 5¢ coins is ridiculously higher than the face value of the minted coins. No one is saying anything about the cost of printing or stockpiling the relatively unused $2 bank note or the expense we are incurring as the proposed Harriet Tubman $20 continues to be developed over what appears to be an inordinate amount of time. The Trump administration is auditing just about every aspect of governmental departments, but at the time this commentary is being written, there has been no news of an audit or other close examination of the operations of the U.S. Mint or the Bureau of Engraving and Printing (BEP). According to Public Law 81-656, the BEP is financed through…

If you collect fractional currency, you are undoubtedly familiar with the name Francis E. Spinner (1802–1890). Mr. Spinner served as the Treasurer of the United States from 1861 to 1875. Mr. Spinner played an important role in stabilizing the Union’s finances during the American Civil War. His legacy is literally printed on money—fractional currency, to be exact. These small-denomination notes, issued due to coin shortages during the war, became a staple of daily transactions in the 1860s and 1870s. And Spinner’s signature—an elaborate and unmistakable flourish—graced each of them. Spinner’s bold and artistic signature became so iconic that it was instantly recognizable across the nation. It added a sense of authenticity and personal accountability to the currency at a time when trust in government finances was fragile. His face also…

It’s difficult to ignore the well-broadcast news that U.S. President Donald Trump ordered the U.S. Mint to cease production of the 1¢ due to the coin costing more than three times its face value to manufacture. This is news in one way, yet in another, it’s not. In recent years, other mints around the world have faced similar problems with low-value coins. The bottom line is the loss of seigniorage, the difference in the cost to manufacture a coin compared to its face value. In an ideal world, a mint can produce a coin or print a bank note for less than its face value, and that mint then either puts that seigniorage profit into its own pocket or its country’s treasury. Namibia is no different than any other nation…

History and art came together at the Spring 2025 Maastricht Auction on May 8. The event focused on world paper money and occurred as a live session on May 8 at the Stack’s Bowers' Griffin Studios in Costa Mesa, California. The auction was followed by an online-only event on May 9 that sold the Windsor Collection of Queen Elizabeth II Paper Money. Selections from the shows were also featured during the MIF Paper Money Fair in Maastricht earlier in the month. A bank note that stood out amongst the vast options offered at these auctions was a Nicaraguan 10 pesos with a pick number (P-37) that had only once before been up for auction at Stack’s Bowers (that note sold for $6,000 in August 2023). Sold for $13,200, two thousand…