A $10 1882 Value Back from the First National Bank of Smithton, Pa., charter E5311, Fr. 577, sporting an inverted $20 back is one of the prized highlights of Lyn Knight Currency Auctions‘ 2013 CPMX Auction, March 7-9, at the Crowne Plaza O’Hare in Rosemont, Ill. The sale is in conjunction with the 19th annual Chicago Paper Money Exposition.
Graded VF, the rare $10/inverted $20 note is estimated at $40,000 to $60,000. According to the cataloger, it last brought $29,000 in a 2005 Heritage auction. “This note was part of a sheet #V95408 and bank serial #1620, plate position ‘D’ and the back is an inverted $20 Value Back!” he wrote.
Another star lot, estimated at $35,000 to $50,000, is a 1902 No Date serial No. 1 $5 from “America’s oldest city.” Hailing from the First National Bank of St. Augustine, Fla., charter S11420, the Choice CU-graded $5 note carries the pen-signed signatures of G.P. Laura, president, and Ero. L. Estes, cashier.
Among large-size type notes crossing the block is an 1880 $100 Legal Tender Note, Fr. 173, PCGS VF 30 Apparent that is thought to be worth between $30,000 and $40,000.
“This is the very rare Bruce-Wyman signature combination with the large brown seal and blue serial number,” according to the cataloger. “There are currently nine notes in the census and six have been sold since 1997.” The last of these to cross the block was in 2007 when a Fine 12 brought $25,300. This specimen, with restoration on its back, is cataloged as “equal to the finest known.”
Besides boasting more than 1,000 nationals, the CPMX auction features errors, type notes, fractionals, Colonials, and Confederate notes. A stellar offering of world notes is led by the Lake Louise Collection and selections from Mexico and Latin America.
Other top CPMX lots include:
• 1875 $1 German American National Bank, Washington, D.C., charter 2358, Fr. 384, PMG Ch. VF 35. “Aces, or for that matter virtually any DC First Charters are rare and the DC Aces are limited to 42 notes reported from 9 banks.” Estimate: $15,000 to $25,000;
• Original Series, $2 First National Bank of Delphi, Ind., charter 1949, Indiana, Fr. 389, Fine. Only the third large note recorded. Estimate: $6,500 to $10,000;
• 1875 $10 First National Bank of Topeka, Kan., charter 2646, Fr. 420, Choice AU. The only known $10 First Charter on this bank. Estimate: $10,000 to $20,000;
• 1929 Type 2 $20 First National Bank of Chestertown, Md., charter 13798, Fr. 1802-2, PCGS Abt. New 53. Only survivor known of total issue of 162 Type 2 $20s from this bank. Estimate: $18,000 to $24,000;
• 1882 $5 Brown Back First National Bank of St. Louis, Mich., charter 3239, Fr. 467, PMG VG 10. This bank issued only $5 Brown Backs on 2,659 sheets with $400 outstanding in 1910. Estimate: $7,500 to $15,000;
• Original Series $2 Citizens National Bank of Faribault, Minn., Fr. 389, PCGS XF 40. One of nine First Charters known on this bank, which also has 10 notes reported with the second title. Estimated: $10,000 to $20,000;
• 1902 $10 Red Seal First National Bank of Neosho, Mo., charter M6382, Fr. 613, VF+. Estimate: $10,000 to $15,000;
• 1882 $50 Date Back First National Bank of Albuquerque, N.M., charter W2614, Fr. 565, VF+. Five recorded notes. Estimate: $12,500 to $25,000;
• Original Series $5 Mechanics and Traders National Bank of the City of New York, N.Y., charter 1624, Fr. 397, AU. Finest of two examples known. Estimate: $7,500 to $15,000;
• 1902 $10 No Date, Tottenville National Bank, Tottenville, N.Y., charter 8334, Fr. 626, XF/AU. Estimate: $7,500 to $15,000;
• 1875 $20 Fourth National Bank of Columbus, Columbus, Ohio, charter 2423, Fr. 434, PMG Abt. UNC 55 EPQ. Estimate: $12,000 to $15,000;
• 1882 $50 Brown Back First National Bank of Newark, Ohio, charter 858, Fr. 508, PCGS New 62 PPQ. Estimate: $15,000 to $20,000;
• 1882 $100 Brown Back, South Texas National Bank of Houston, Texas, charter 4350, Fr. 524, XF/AU. Estimate: $12,500 to $25,000;
• 1902 $5 Red Seal, National Bank of Commerce of Tacoma, Tacoma, Wash., P3789, Fr. 589, PCGS XF 45 PPQ. Estimate: $15,000 to $20,000.
For additional information, contact Lyn Knight Currency Auctions, P.O. Box 7364, Overland Park KS 66207; telephone 913-338-3779; or visit www.lynknight.com. For more information on CPMX visit www.cpmxshow.com.
