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Lot
16007

Fr. 1255a Milton 3R10.5 10¢ Third Issue Choice New. The finer by far of only two examples known to exist. The other piece wa...

2005 (CAA) St. Louis, MO (CSNS) Signature Sale #374

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Auction Ended On: May 6, 2005
Item Activity: 5 Internet/mail/phone bidders
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Location: St. Louis, MO
Description:
The Finer of Only Two Known Fr. 1255a's
Fr. 1255a Milton 3R10.5 10¢ Third Issue Choice New. The finer by far of only two examples known to exist. The other piece was the Milt Friedberg example which we sold in January of 1997 for $39,600. That piece resides in a West Coast collection, and it likely will remain there for many years to come. This note was the Gengerke example, which was sold publicly for the first time in January of 1995 as Lot 121. At that time, it realized $21,450 on an estimate of $20,000-up. The note was acquired by Martin from pioneering paper money dealer Ted Kemm in 1972. Fr. 1255a is the "stopper" note for a complete Regular Issue Fractional Currency set. Only two complete sets can exist, as that is all of the 1255a's that exist. When we sold this note in 1995, it was described, "By far the better of the two pieces known to exist, this lovely note is hand signed by Colby and Spinner. But unlike all other hand-signed notes, it has the back printed in the green ink used for notes with engraved signatures. Although one might expect that at least a full sheet of these had been produced, only this and one other have ever surfaced. This is the only note that F.C.C. Boyd was never able to acquire. It is bright and attractive, with a few ink smears about the margins and one larger smear running the length of the top margin. No Fractional Collection can ever be complete without this variety. The current record price for a piece of Fractional Currency is held by the Fr. 1352 (three known) that was sold by Stack's last year for $126,500. While it is unlikely that this note will pass that record, it is certain to take a run at it."

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