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Press Release - September 19, 2011
Small Size And Error Notes Dominate Currency Section Of Heritage Auctions’ $34 Million Long Beach Event
1882 Eaton, CO $10 Brown Back triples estimate to bring $37,000+; Fr. 2221-B $5000 Federal Reserve Note realizes $132,250
DALLAS, TX – Heritage Auctions’ Long Beach Signature® Currency Auction, held in Long Beach, CA, September 7-9, realized $5.52 million – including the two non-floor sessions held on Sept. 11-12. All prices include a 15% Buyer’s Premium.
The auction began with a large selection of World Notes representing 94 countries. The Chinese and Cuban notes, in particular, brought strong prices. The China Commercial Guarantee Bank of Chihli 50 Taels 1912 Pick S2514Ds S/M#P33 Specimen graded PMG About Uncirculated 55 brought $7,475, with several other Chinese notes realizing similar results. The auction included a large selection of rare Cuban material with the top seller being a Cuba Republic 10,000 Pesos 1950 Pick 85s Specimen graded PCGS Very Choice New 64PPQ, which brought $5,750. The Russia 5 Gold Rubles 1924 Pick 188s Specimen graded PMG Choice About Unc 58 EPQ far surpassed the estimate of $500+ when a number of competing bidders drove it to a closing price of $5,463.
Other Session One highlights included a PMG Superb Gem Unc 67 EPQ BC-31bA $5 1954 Devil's Face Replacement that fetched $28,750. The Kings Mountain Collection, containing primarily Colonial notes from the Southern States, including many rare pieces, saw strong prices for a number of offerings. Foremost among them was the exceedingly scarce North Carolina 1780 $50 Independence PCGS Very Fine 30 example that realized $10,350. Not surprisingly, the Obsolete with the highest winning bid was the Salt Lake City, UT- California & Salt Lake Mail Line $50 1863 graded PCGS About New 53. That coveted note brought $40,250.
National Bank Notes were offered during Session Two. Two notes from Palm Beach County, Florida, brought strong prices in particular with the Lake Worth, FL - $5 1902 Plain Back Fr. 607 The First NB Ch. # 11716, graded PCGS Very Fine 30, selling for $44,563, while the West Palm Beach, FL - $10 1902 Plain Back Fr. 634 The American NB Ch. # (S)12057 example, with a PCGS grade of Very Fine 35PPQ, realized $37,375.
Other Nationals of note were the PCGS Apparent Very Fine 20 San Francisco, CA - $20 Original National Gold Bank Note Fr. 1152 The First National Gold Bank Ch. # 1741 that hammered for $43,125, the Tombstone, AZ - $10 1902 Plain Back Fr. 628 The First NB Ch. # (P)6439, graded PCGS Very Fine 30PPQ, that sold for $41,688 and the Eaton, CO - $10 1882 Brown Back Fr. 490 The First NB Ch. # 6057, graded PCGS Very Fine 30PPQ, that catapulted well beyond the pre-auction estimate of $12,500+ to cross the auction block for $37,375.
Small Size Notes and Errors were offered during Session Three. As expected, the top selling lot among the Small Size offerings was the Fr. 2221-B $5000 1934 Federal Reserve Note. PCGS Very Choice New 64PPQ, which realized $132,250. The Grand Forks, ND - $20 1902 Plain Back Fr. 658 The Northwestern NB Ch. # 11142 Double Denomination Error note handily surpassed the estimate and sold for $69,000.
Session Four contained Large Size Type Notes, with the standout among the grouping being the Fr. 165a $100 1862 Legal Tender PCGS Apparent Very Fine 30, which sold for $69,000. Additional highlights included the Fr. 150a $50 1863 Legal Tender PCGS Apparent Fine 15, with a winning bid of $32,200 and the Serial Number One Fr. 897a $10 1914 Red Seal Federal Reserve Note PCGS Extremely Fine 40PPQ, which realized $29,900.
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