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Auction 396 | Lot 15398 » Fractional Currency » Third Issue

United States Treasury Permit To Purchase Postage Currency. When we sold the O'Mara piece, it received the following description: "Printed in black on green cardboard, this form is numbered 972, and is dated New York, November 13, 1862. This is only 2 months after the initial release of Postage Currency at a time when coinage was almost non-existent and Postage Currency in far too short a supply to meet the demand. One of only two known to exist, this piece bears the printed signature of John Cisco, the Assistant Treasurer of the United States. It permitted its holder to receive $30 in postage currency each Monday and Thursday 'until further notice.' The only other known specimen was pictured in the May, 1915 issue of The Numismatist (and repictured along with the currently offered piece on page 1517 of the August, 1985 issue). That piece differs from this piece only in its serial number and the hand written signature at the lower left. When this piece was offered as part of the Friedberg Collection in 1997 it realized $1760. It should do far better this evening!" The O'Mara piece realized $2875. This is the piece that Stack's sold one month after the O'Mara sale. It's identical to the O'Mara piece save for the handwritten parts, which are accomplished in the same handwriting.

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Jan 7, 2006

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Auction 396 | Lot 15399 » Fractional Currency » Third Issue

Fr. 1226 3¢ Third Issue PMG Gem Uncirculated 65. A handsome well margined 3¢ example.

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Jan 7, 2006

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Auction 396 | Lot 15400 » Fractional Currency » Third Issue

Fr. 1226 Milton 3R3.1c 3¢ Third Issue Vertical Strip of Four "No Pearls" Gem New. Four lovely examples of this scarce variety on an unfolded, pristine vertical strip. This variation, although minor, has always been an interest to collectors and was mentioned in Fractional literature as early as the 1890s. The "Pearls" are the tiny circles beneath the small diamond below the bottom center of Washington's portrait. Research has indicated that these "Pearls" are missing only on plate numbers 32 and 35. This strip is from one of those two plates; it has the "3" from one of those two numbers in its right margin. This lot was originally from Lester Merkin's sale of the Herman Collection in September 1974 as lot 198. It was then lot 563 from CAA's January 1997 Friedberg collection sale and is now part of the 3¢ collection.

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Jan 7, 2006

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Auction 396 | Lot 15401 » Fractional Currency » Third Issue

Fr. 1226 3¢ Third Issue Gem New. This neat little 3¢ bears the bold courtesy autograph of Frank White.

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Jan 7, 2006

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$Fr. 1226 3c Third Issue PMG Gem Uncirculated 65. Front to back, this three cent fractional could not have been aligned a...$

Auction 396 | Lot 15402 » Fractional Currency » Third Issue

Fr. 1226 3c Third Issue PMG Gem Uncirculated 65. Front to back, this three cent fractional could not have been aligned any better.

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Jan 7, 2006

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Auction 396 | Lot 15404 » Fractional Currency » Third Issue

Fr. 1226 3¢ Third Issue Choice New. Previously lot 227 from CAA's 1/97 MRF sale. It bears courtesy autograph of W. B. Elliot.

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Jan 7, 2006

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Auction 396 | Lot 15405 » Fractional Currency » Third Issue

Fr. 1226 3c Third Issue PCGS New 62. This is a pleasing light background variety.

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Jan 7, 2006

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Auction 396 | Lot 15406 » Fractional Currency » Third Issue

Fr. 1226 3¢ Third Issue Uncut Sheet of Twenty-five About New. Lightly aged along the bottom and left with one tiny edge tear at the left, but most of the notes are bright, well-margined pieces. There is a single heavy fold between the third and fourth column and a little handling elsewhere, but this is far superior to most 3¢ sheets that we've handled.

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Jan 7, 2006

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Auction 396 | Lot 15408 » Fractional Currency » Third Issue

Fr. 1226SP Face and Fr. 1227SP Face 3¢ Third Issue Specimens Choice New. Both are narrow margin examples from the 3¢ collections. (Total: 2 notes)

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Jan 7, 2006

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Auction 396 | Lot 15409 » Fractional Currency » Third Issue

Fr. 1227 Milton 3R3.2d 3¢ Third Issue Inverted Back Fine. This Dark Curtain Invert was not originally listed in the Encyclopedia as it was unknown until the appearance of this discovery piece in the early 1980's. It grades a solid Fine, with somewhat irregular margins and a small rust spot to the right of the portrait. To our best knowledge, this remains the sole known Dark Curtain 3¢ Invert.

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Jan 7, 2006

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Auction 396 | Lot 15333 » Fractional Currency » First Issue

Fr. 1229 5¢ First Issue Very Choice New. Deep full perforations surround this scarce, no-monogram type, which comes very close to the full Gem grade.

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Jan 7, 2006

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Auction 396 | Lot 15334 » Fractional Currency » First Issue

Fr. 1229 5¢ First Issue Choice About New. Two very light folds away from the Gem grade. The back is centered a bit low on this beautifully perforated no-monogram note.

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Jan 7, 2006

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Auction 396 | Lot 15335 » Fractional Currency » First Issue

Fr. 1230 5¢ First Issue Uncut Sheet of Twenty Gem New. A gorgeous uncut sheet with perfect paper surfaces, ideal colors, and huge margins all the way around. Not a terribly rare sheet, but we have handled very few as nice as this one.

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Jan 7, 2006

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Auction 396 | Lot 15336 » Fractional Currency » First Issue

Fr. 1230 5¢ First Issue Gem New. A nicely margined, wholly original example.

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Jan 7, 2006

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Auction 396 | Lot 15337 » Fractional Currency » First Issue

Fr. 1230 5c First Issue PMG Gem Uncirculated 66. Creamy yellow paper is framed by larger-than-normal margins for the issue.

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Jan 7, 2006

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Auction 396 | Lot 15338 » Fractional Currency » First Issue

Fr. 1230 5¢ First Issue Vertical Strip of Four Choice New. A bright, attractive, strictly original strip. The bottom note is an AU, the three top notes grade Very Choice.

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Jan 7, 2006

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Auction 396 | Lot 15339 » Fractional Currency » First Issue

Fr. 1230 5c First Issue PCGS Choice About New 55PPQ. It looks as though this example was lightly folded.

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Jan 7, 2006

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Auction 396 | Lot 15340 » Fractional Currency » First Issue

Fr. 1230 5¢ First Issue Uncut Sheet of Twenty Extremely Fine. A handsome 5¢ sheet with vertical folds between each column of notes. The folds are far more visible from the back, and the sheet has a very pleasing appearance from the face.

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Jan 7, 2006

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Auction 396 | Lot 15341 » Fractional Currency » First Issue

Fr. 1231SP 5¢ First Issue Wide Margin Pair Superb Gem New. An incredible pair, beautifully matched for size. The color on these pairs never quite matches, with the backs having been printed on a darker buff paper, and the faces on a more lemon yellow. Both the face and back have pristine original surfaces, and both have two full cutting guides. (Total: 2 notes)

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Jan 7, 2006

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Auction 396 | Lot 15357 » Fractional Currency » Second Issue

Milton 2S5F.1c 5¢ Second Issue Plate Proof Gem New. An incredibly sharp, clean print from the completed Five Cent Second Issue plate. It's on India paper mounted to a card prior to printing. Printed with so much pressure, that even though the card is unusually heavy, the embossing still comes through. The edges of the single subject plate are punched heavily into the card. The combination of the lack of the bronze oval as well as no cancellations or specimen stamp allow a beautifully clear look at the design exactly as intended. Tom O'Mara acquired this piece through his purchase of the Doug Hales collection. Milt Friedberg had nothing quite like it. In our sale of the O'Mara collection, the piece realized just a shade under $2,600. We would now expect a realization in the area of...

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Jan 7, 2006

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Milton 2E5F.3a 5¢ Second Issue Essay Choice New. From our sale of the O'Mara Collection, where it was described, &q...

Auction 396 | Lot 15359 » Fractional Currency » Second Issue

Milton 2E5F.3a 5¢ Second Issue Essay Choice New. From our sale of the O'Mara Collection, where it was described, "Printed on thick yellow paper (light cardboard) from the finished 5¢ face plate. The quality of the engraving is exceptional. This note was apparently printed using a brand-new plate under particularly heavy pressure, as the print quality is remarkable and the embossing clearly penetrates through to the back of the heavy paper. Only two examples are known, this one, which Tom O'Mara acquired from the Doug Hales Collection, and the other, lot 892 from our January 1997 Sale."

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Jan 7, 2006

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Auction 396 | Lot 15360 » Fractional Currency » Second Issue

Fr. 1232 5¢ Second Issue Inverted Back Surcharge Choice About New. Three examples of this invert are known. At the time of the printing of the Encyclopedia, the listing was made from a single piece whose location had been unknown. That piece had been lot 3660 from the June 19, 1916 Chapman Sale. Over the intervening years, two more have surfaced for a total of three now known. This example is a bright, problem-free piece that would grade Choice New if it were not for the presence of a single light center fold.

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Jan 7, 2006

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Auction 396 | Lot 15362 » Fractional Currency » Second Issue

Fr. 1233 5¢ Second Issue Strip of Five About New. An unusual vertically oriented strip that is folded between each note, but has seen virtually no circulation. Clean, bright, and attractive.

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Jan 7, 2006

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Auction 396 | Lot 15363 » Fractional Currency » Second Issue

Fr. 1233 5¢ Second Issue Vertical Strip of Five About New. Identical to the above and apparently from the same sheet.

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Jan 7, 2006

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Auction 396 | Lot 15364 » Fractional Currency » Second Issue

Fr. 1235 5¢ Second Issue Superb Gem New. This is tied with only one other example as the finest 1235 that we have seen or handled. In our 40+ sales (as well as private treaty), we have seen only one other Superb 1235. That was in January of 2001 when, on a much weaker market, we auctioned the only other one we've ever seen for over $2100. This piece has broad, even margins, ideal back centering, pristine paper surfaces and every other positive attribute that any collector could ever desire. Simply spectacular.

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Jan 7, 2006

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