Bidders get Wooed by Error Notes and a Rare $2 National

27 Dec 2017  Wed

Lyn Knight’s offering of the Emerald Coast Collection of United States Paper Money showcased a huge collection of 400 error notes that had its own catalog and auction session.

The auction covered most of the major error varieties except for double denominations. Included were notes missing second printings with blank faces except for the overprint; notes with overprints on the back; notes bearing unusual printed tears and folds; notes with double printings; printed scrap errors; and notes with inverted overprints on the back. There were few lots that sold for as low as $15 to $36 for minor misalignments and inking errors.

At the upper end of bidding was the $4,200, including the 20 percent buyer’s fee paid for a Friedberg 2071-G Series 1977 $20 Federal Reserve note from Chicago. It included a printed tear so odd that it resembles a pair of rabbit ears. This unique error occurred when selvage from the top of the sheet remained attached to the note, tore apart, and then folded over between the second and third printings, resulting in the district seal being on both the note itself and the scrap.

Several lots were knocked down for $2,700 each: A Choice Crisp Uncirculated F-2027-B Series 1985 $10 Federal Reserve note from New York with multiple printings on the face; a F-2030-G Series 1993 $10 Federal Reserve note of the Chicago district with a double printing on the face in PCGS Currency Very Choice New 64 Premium Paper Quality; and a gem Crisp Uncirculated $100 Federal Reserve note from San Francisco that, because the second printing, or face design, is missing entirely, carries no visible way of identifying the series it came from and who signed it.

Knight offered a second session, consisting of other paper money, running the gamut from Colonial and Confederate notes through obsolete currency to large- and small-size type notes.

The final session included a pair of large-size Series 1918 $500 and $1,000 Federal Reserve notes. The first was one of 22 known San Francisco F-1132-L notes, reaching a winning bid of $25,200 in an uncertified grade of Very Fine +, while the other, a Chicago district F-1133-G note, sold for $30,000 in PCGS Currency Extremely Fine 40.

The auction also featured a duo of Series 1886 and 1891 $1 silver certificates of the Martha Washington type (F-215 and F-222) with matching serial numbers of B7 and E7 that sold for $10,800. The F-215 note also featured a courtesy autograph of John Burke above Enos Nebeker’s engraved signature as treasurer.

Two serial #1 national bank notes, each realized $7,200: a large-size F-589 Series 1902 Red Seal $5 note from the First National Bank of Belmond in just Paper Money Guaranty VF-30 and a small-size F-1801-2 Series 1929 $10 note from the First National Bank of Gladstone, graded Extremely Fine by the auctioneer.

However, what stole the show was $ 32,400 Very Fine Original Charter “Lazy Deuce” $2 note (F-388) from the First National Bank of Hillsborough.

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