Texas Collection Leads Heritage's FUN 2001 Currency Sale to Success

Dallas, Texas: Heritage's one-session FUN Currency Sale was conducted on January 4, 2001 and realized more than $1 million. The anchor collection in this sale was the Texas Collection of National Bank Notes, formed by Heritage Co-Chairman Steve Ivy over a period of 20 years. "Mr. Ivy's consignment attracted every major collector of Texas National Bank Notes to our 2001 FUN Sale," reported Heritage Auction Director Bob Korver. "As anticipated, these collectors competed fiercely for every note in the Texas Collection, and the floor bidding was among the most impressive that I have ever seen at a Heritage auction. Only the bidding that accompanied our sale of the Bassano Collection of Mercury Dimes as part of the Philadelphia 2000 Signature Sale rivals that for the Texas Collection in terms of intensity and competitiveness in the last year. What we did not anticipate, however, was the effect that the floor bidders would have on the pace of our FUN Currency Sale. As bidders dueled for each lot in the Texas Collection, they simply would not let the gavel fall, continually driving the price up and prolonging the auction - which was difficult for our staff, but good for our consignors, especially Mr. Ivy."

According to Jason Bradford, Heritage's Currency Cataloger: "One of the most important notes in the Texas Collection is the 1902 $10 Red Seal note from the Canyon National Bank of Canyon, TX. This note, a VF example, is the only known survivor from this bank. We estimated that this note would sell for $5,000 - $7,500, but the realized price was $11,500. Another note that took us by surprise is the 1902 $20 Third Charter Red Seal from the Adams National Bank of Devine, TX. This note, graded Fine-VF, sold for $8,050 despite an estimate of only $3,000 - $4,000."

Among the other consignments in the FUN Currency Sale was a Fine 1882 $20 Second Charter Brown Back from the Phoenix National Bank of Phoenix, Territory of Arizona. Offered as lot 4735 with an estimate of $10,000 - $20,000, this note drove the bidders to $27,600 before the gavel fell."

Prices Realized for the 2001 FUN Currency Sale are posted online at HeritageCoins.com and http://www.CurrencyAuction.com

Highlights from the Texas Collection:

First National Bank of Corsicana, TX, Charter #3506. 1902 $100 Third Charter Red Seal, Fr-687, VF. Realized $16,675.

Stockmens National Bank of Cotulla, TX, Charter #14302. 1929 $10 Type Two, Fr-1801-2, Fine+. Realized $3,680.

First National Bank of Covington, TX, Charter #7147. 1902 $10 Third Charter Red Seal, Fr-613, Fine-VF. Realized $10,350.

First National Bank of Glen Rose, TX, Charter #5795. 1902 $20 Third Charter Plain Back, Fr-659, XF. Realized $3,450.

First National Bank of Lamesa, TX, Charter #11163. 1902 $5 Third Charter Plain Back, Fr-606, Fine-VF. Realized $8,625.

First National Bank of Lorena, TX, Charter #8621. 1902 $10 Third Charter Plain Back, Fr-626, Fine-VF. Realized $7,187.50.

First National Bank of Pampa, TX, Charter #9142. 1929 $20 Type One, Fr-1802-1, Fine. Realized $5,520.

Other Highlights:

Nogales National Bank, Nogales, AZ, Charter #11012. 1929 $20 Type One, Fr-1802-1, Fine. Realized $2,990.

National Bank of Arizona at Phoenix, AZ, Charter #3728. 1902 $20 Third Charter Plain Back, Fr-646, VF-XF. Realized $3,680.

Consolidated National Bank of Tucson, AZ, Charter #4287. 1902 $10 Third Charter Plain Back, Fr-620, AU. Realized $4,830.

First National Bank of Driggs, ID, Charter #10278. 1902 $20 Third Charter Date Back, Fr-594, Choice AU. Realized $5,520.

First National Bank of Morgan City, Louisiana. 1902 $10-$10-$10-$20 Third Charter Plain Back Sheet, Fr-616/Fr-650, CU. Realized $13,800.

First National Bank of Salisbury, NC, Charter #2981. 1882 $5 Second Charter Brown Back, Fr-467, Choice CU. 4,140.

Onepapa Vignette autographed by G.F.C. Smillie. Realized $6,038.