|A Major Currency Event in Long
Currency Auctions of America's Long Beach California auction
promises to be one of the major currency events of 2005, with the
event containing numerous rarities in virtually every field,
including Colonial Currency, Confederate and Obsolete Currency,
Military Payment Certificates, Fractional Currency, Large and Small
Type Notes, and National Bank Notes.
The Heritage CAA auction is the official currency auction of the
Long Beach Coin & Stamp Expo, and will take place on Thursday
afternoon and evening and Friday afternoon and evening September
22-23, 2005 at the Long Beach Convention Center, 100 South Pine
Ave., Long Beach, California. The Convention Center is also the
site of the Long Beach Coin & Stamp Show, as well as the
location for lot viewing for the Heritage CAA auction as well as
other Heritage auctions.
The more than 4000 lot auction features The Paul Angenend
Collection of Confederate Currency, selections from the Confederate
and Obsolete holdings of Arlie Slabaugh, the Gilbert I. Stuart
collection of Confederate and Obsolete notes, a specialized
collection of Mississippi Obsolete Notes, the Midwest Collection of
Fractional Currency, the Mark Mraz Collection of High Denomination
Small Size Notes, the Thomas Wolfe Collection, the High Desert
Collection of California National Bank Notes, a major collection of
Illinois National Bank Notes, and is anchored by the New England
Changeover Collection, which offers a vast selection of rarities in
many fields including the finest collection of large and small
changeover pairs ever sold, as well as other important properties
from over 150 individual consignors.
The Thursday afternoon session opens with over 100 lots of
Colonial and Continental Currency, including several rare uncut
sheets and then moves on to Fractional Currency, where over 400
lots, many certified by PMG, will be offered as part of the Midwest
Collection. Highlights include a
Fr. 1351, one of only about a dozen known, and a
Fr. 1359 which the cataloguer describes as "possibly the finest
known of this rare number."While only a few lots, the MPC section
offers several seldom seen items, the highlight being a newly
discovered Series 541 Replacement Note, which is one of just two
The Confederate and Obsolete offerings rank among the finest CAA
has ever assembled, with the Angenend collection replete with high
grade specimens which have been off the market for almost two
decades. It is augmented by notes from the Arlie Slabaugh
collection as well as the Gilbert I. Stuart collection, a vast
array of both Confederate and Obsolete material salted away by the
consignor's grandfather from the 1930's through the 1950s, with
virtually ever item new to the numismatic marketplace.
The auction continues with perhaps the finest offering of Small
Size Type Notes that CAA has ever presented at one time. Numerous
rarities will cross the block, including a pair of
1928 $1 Legal stars, a trio of
1934 North Africa tens, a huge selection of low and fancy
number notes including several serial number 1 examples, the finest
collection of changeover pairs ever auctioned, a pair of high grade
$1000 Gold Certificates, an Uncirculated $10,000 note from the
Binion hoard, and over 100 1928 and 1934 series $500 and $1000
notes, including a bevy of star examples from the Mark Mraz
The Large Size Type Notes comprise over 1000 lots, highlighted
by several Federal Proofs and a run of rarities from the New
England Changeover Collection, including an 1875 $100 Legal, a
1880 $100 Silver Certificate, a pair of unique serial number 1
Type Notes, and a multitude of low and fancy number examples,
including a 99999999to 100000000 changeover pair.
Friday night is devoted to National Bank Notes with over 1400
lots scheduled to go under the hammer, anchored by major
collections from California, Illinois, Iowa, and Nebraska.
Collectors will be delighted by the opportunity to obtain Proof
examples of the ultra-rare First Charter $500 and the unknown $1000
National Bank Notes. Worthy of special mention is the first
offering of a unique large note from the
Farmers & Merchants NB of Livermore, California consigned
from an estate purchased in northern California by Jim Beer of the
Coin Broker in Palo Alto and a Mississippi $5 Brown Back from the
formerly unreported community of Port Gibson. Also worthy of note
is a group consigned from a recently unearthed Midwest cash hoard
consisting of large Nationals from all over the country, with notes
as diverse as Morrillton, Arkansas, Ismay, Montana, and Enosburg
This auction will be posted for bidding soon at www.HeritageCurrency.com.
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Found Treasures: More Lost
by Stewart Huckaby
The e-mail waiting for me when I came into the office on Monday
showed beyond a shadow of a doubt that this is a subject that
touches everyone. The coin that got away. The collection that could
have been... or once was. Here is a sampling of the stories I read
GM in Missouri tells of a co-worker whose uncle had a prized
coin that he carried with him everywhere in a velvet pouch. This
gentleman keeled over one day from a heart attack, and his family
looked all over for this coin without finding a trace of it. If
anyone out there stumbles across a stray Double Eagle dated 1856
with an 'O' mintmark on the back, I'm quite sure that the family
would like to hear from you.
Come to think of it, if you find this coin Heritage would like to
hear from you too...
TC in Mississippi was doing what most ten year old kids do when
they find a construction site - playing. While digging around in
the dirt, he found what he first thought was a washer, but what
turned out to be a 1876-S Seated Liberty Quarter. Not knowing about
such things, he decided that the coin needed to be "cleaned up" to
remove some debris... with a file. What was once a nice AU coin
became a nice AU coin with several very nice scratches.
TF in Arizona tells of the time he worked for his brother at a
drive-in in the late 60's. There were still a lot of interesting
things in circulation at the time, and his brother once found two
Gold Certificates. Feeling that they would be better hidden, he
stashed the notes in a dictionary in the attic. Guess what was
thrown out when the attic was cleaned...
JM in Massachusetts tells of his son's baseball card collection
in the late 70's. The cards were in excellent shape, and the boy's
mother, thinking that the collection would look better displayed,
decided to pin the cards to Styrofoam wall panels in the basement.
Through body parts. One would hope that she was not practicing
TY in Colorado worked as a child in the 1960s mowing yards,
delivering newspapers, shoveling snow - everything that an
industrious kid could do to make money. He often received older
coins in change and a couple of his regular customers made a point
of giving him "old money" like Morgan Dollars and Indian Head
Cents. His mother, noticing his interest in money, decided that he
needed a savings account. I think you can guess the rest.
RC in Pennsylvania worked for a vending business in his
twenties, and one of the coins he was able to put away was a
Buffalo Nickel that was missing a leg. A babysitter knew of his
interest in coins and mentioned that she also had a 3-legged
nickel, a real beauty, so RC sold his specimen to the local dealer
(a guy named Q. David Bowers) in order to pay for an upgrade. When
he separated from his wife, he left his collection behind... and
later found that the collection had been sold for little more than
JA in California collected Lincoln Cents and Buffalo Nickels out
of change when he was eight years old. His best find was a 1914-D
grading XF (wish I could find something like that in change... or
for that matter even in my collection!) Unfortunately, his older
sister decided to scrounge through his dresser drawer, leaving him
without a 1914-D cent... for all of two weeks until he found an
even nicer one in change! He tells of eventually having found every
Lincoln in change except for one particularly elusive piece - yep,
you guessed it, the 1931-D. Huh??
Finally, TB in Kentucky once received a "really neat looking"
five dollar bill with a portrait of an Indian Chief from his uncle
in change. He gave the note to his Dad for safekeeping... and it
was promptly used to pay for a couple of sacks of groceries. Anyone
with keys to a time machine should notify TB immediately.
Because we're all collectors, we all have stories about the one
that was thrown away. If you have a good one, send it along to me
and hopefully we'll get a chance to mention it in a future issue of
Coin and Currency News.
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Website Tips: How to Bid
- Log onto heritagecoin.com.
- Search or browse for the lot that you're interested in. You can
do this from the heritagecoins.com home page, from the Auctions
home page, or from the home page for the particular auction you
wish to participate in.
- Click on the link or the photo icon for the lot that you want
to bid on.
- On the left, you'll see a small image of the lot in question,
in this case a 1882-CC dollar in a PCGS green label holder. Right
below the header is the bid box, which we'll cover in a bit. Below
are the name of the auction, the type of auction (Signature or
Internet Only), the number of bidders, the time remaining, a note
about sales tax, and the description of the item for shipping
purposes. The time remaining to bid is dynamic; go to any item page
and you'll see it counting down to zero. For this lot with its five
week bidding time remaining, we recommend that you don't watch it
until it counts all the way down.
- In several places on this page, you'll see the icon .
Simply roll your mouse over the icon (no click necessary), and you
will receive an explanation of the Buyer's Premium, the number of
bidders, or the Reserve Status.
- If you wish to place a bid, just enter the dollar amount you
wish to bid under Secret Maximum Bid. This header will show you the
minimum you must bid; as always, you may bid any amount above the
minimum. The reserve status, along with any reserve that has been
implemented, will also show here.
- It is no longer required that you place a bid equal to or
greater than an implemented reserve. The highest bid that has not
met the reserve at the end of the auction will be communicated to
the consignor, who then has the option to lower his reserve. If the
consignor chooses to lower his reserve, the high bidder will then
be given the option (with no obligation) to purchase the lot at the
amount of his bid.
- Once you have placed your bid, click on the "Place Bid" or
"Place Absentee Bid" button to continue.
- Now, the bid box will ask you for your User Name and your
password. This is a very quick process which does not require
opening up a separate web page. Enter your User Name (or e-mail
address in our records if you prefer) and password, and again click
on the "Place Bid" or "Place Absentee Bid" button to continue.
- You will be taken to a page entitled "Please Confirm Your Bid".
This page will show you the name of the item you're bidding on, the
current bid, and the maximum bid. When you are satisfied with your
bid, click on the button marked "Confirm Bid" (or "Confirm Absentee
Bid"). If you decide you do not wish to place this bid, click on
the button entitled "Cancel Bid"/"Cancel Absentee Bid".
- You will be taken to either of two pages. If your bid is the
current high bid, you will be notified, and given some information
on what might happen with your bid over the remainder of the
auction. If you have chosen to receive e-mail bid notifications,
you will also receive a Bid Confirmation notice via e-mail.
If your bid is not the current high bid, you will be taken to a
page that will notify you of that fact. You always have the option
to rebid, and this page contains another "Place Bid" box that will
allow you to do just that.
We want your bidding experience to be pleasurable and rewarding.
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Metal: A material coins (and a few other things) are made
Originally, coinage was made as a form of transportable wealth.
Metal was desirable as currency because of its durability as
compared to other types of valuables. The value of coins was
directly tied to the metallic content, or at least the perceived
The first coins were made in Lydia, a Greek area of what is now
Turkey, in the 7th Century BC. These coins were made of
Electrum, a naturally occurring alloy of gold and silver, and were
often little more than stamped nuggets. Electrum, which resembles
silver with a slight yellow tint, was also used for some Byzantine
coinage about a thousand years ago.
Some of the other common metals and alloys that have been used
to make coins are:
Gold: Distinct because of its unusual color, gold has
been prized for centuries. Too soft for heavy manufacturing usage,
gold was ideal as a form of transportable wealth. In ancient times,
gold was virtually always refined to a nearly pure state, roughly
.986 fine. 18th and 19th century US gold was
roughly .900 fine, on a par with most other gold coins of the time.
Today, gold is no longer used for circulating coinage, but many
countries produce commemorative gold coinage and gold coins for use
as bullion. The most popular bullion coins today worldwide are
those minted on .999 fine (or even finer) planchets, and the United
States whose American Eagle series of gold coinage is .917 fine,
will be producing a new series of coins for this market beginning
Silver: Also used for coinage for centuries because of
its status as a precious metal. While gold has been in use for
coinage longer than silver, the intrinsic value of gold coins was
often so high that most ordinary people never saw one. Silver was
therefore historically a means of distributing wealth among the
general population, and there were long periods of time in Medieval
Europe when coins were made of virtually nothing else. The fineness
of silver coins varied greatly depending on both the issuer and the
time, with the finest circulating silver coinage generally
somewhere around .917 fine, or Sterling Silver. US Silver coinage
before 1964 was generally .900 fine. Beginning around the middle of
the 19th century, silver started to gradually disappear
from the world's circulating coinage in favor of metals that had a
similar color and weight, and since about 1970 it has been very
unusual to find any circulating silver coinage. Today, silver is
used for commemoratives and bullion. Very low grade silver alloys
are known as Billon.
Copper: Commonly used for a wide variety of purposes
since prehistory, copper has used for coinage since at least the
fifth century BC. Because copper is very common and not
intrinsically valuable, it has historically tended to be used for
low denomination coins. An exception to this is Swedish Plate
Money, large denomination pieces made in the 17th and
18th centuries because Sweden had no silver and immense
supplies of copper. Unfortunately, the pieces, denominated between
1/2 and 10 Dalers, were so impractical because of their huge size
that most eventually found use as ballast rather than as money.
Common alloys of copper include Bronze (copper alloyed with
tin) and Brass (copper alloyed with zinc). US "copper" cents
made 1864-1982 are technically one of these two, depending on
whether zinc was included in the composition for the planchet.
Tombac is a kind of brass used for Canadian five cent pieces
during World War II. Orichalcum is a light-colored brass
alloy used by the Romans for the dupondius and sestertius.
Nickel: A very hard white-colored metal, commonly used as
a replacement for white silver coinage. Nickel has been used for
coinage since the mid-19th Century, often in alloys
containing copper (Copper-Nickel) such as the 75% copper/25%
nickel alloy used on US five cent pieces since 1866. Nickel in its
pure form is magnetic, although the US five cent piece is not.
Today's gold-colored British One Pound coin is made of a
Nickel-Brass alloy containing 5.5% nickel, 24.5% zinc, and
70% copper. German Silver or Nickel Silver is an
alloy of copper, nickel, and zinc, more silvery in color than
ordinary copper-nickel. Philippines 5 Centavo pieces are a good
example of this material.
Aluminum: A silvery, very light metal used by countries
around the world for low denomination coinage. Extracted from
bauxite ore, it has been known as a metal for less than 200 years,
and was once considered very precious. Unpopular because of its low
weight, it nevertheless is quite durable and resists corrosion
well. Also called Aluminium. Aluminum-Bronze is an
alloy of aluminum and copper popular for coinage, gold-colored, and
much heavier than aluminum.
Zinc: Used mainly as an alloy in brass, zinc is
occasionally used in its own right as a coinage metal. Zinc is dark
gray, almost black, and it can be very difficult to make out the
features on zinc coinage. Corrodes fairly easily. 1943 US Cents are
plated in zinc, while zinc is the core of US Cents made since 1982
and Canadian Cents made since 1997.
Tin: Experimented with as a coinage metal in
17th century England, tin proved so subject to corrosion
that the experiment was abandoned. Not used for coinage today.
Iron: Occasionally used for coinage in early
20th century Europe. Magnetic, but corrosive.
Steel: Often used for coinage, usually plated with
another metal because of its corrosive properties. US Steel Cents
are zinc-plated; many other low-denomination coins contain a
copper, nickel, or even chromium plating about a steel core. Steel
is quite magnetic, hence the magnet test used for "copper" 1943
Platinum: A precious metal, grey in color, occasionally
used by Russia for 19th century circulating coinage, and
commonly used today in the production of bullion coins.
Palladium: A silver precious metal, chemically similar to
platinum and nickel and currently worth about half the value of
gold, which is gaining some popularity in use as bullion. Palladium
coins were first issued by Tonga in 1967 to commemorate the
coronation of King Taufa'ahau Tupou IV.
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