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    $50/$100 Double Denomination Brown Back-First Offering at Public Sale in Seventy Years

    Kansas City, MO - $50/$100 Double Denomination 1882 Brown Back Fr. 512 The Aetna NB Ch. # 4251 PCGS Very Good 10 Apparent.
    A marvelous note, and one of the highlights of the Newman Federal currency offering. This note was first revealed to collectors thirty years ago, when it was exhibited at the Newman Money Museum's former location at the Mercantile Bank in downtown St. Louis. Your cataloger well remembers the excitement when some of the wonderful rarities, including this note, were on display. This is one of only two known $50/$100 Double Denominations, and the first to be sold at public auction since June of 1945, when Barney Bluestone sold the Grinnell $50/$100 and the $100/$50 Brown Backs from Albuquerque, New Mexico Territory in one lot. The price realized was $830, at the time a very high price. The pair later found their way into the collection of Amon Carter, Jr. and, upon Amon's passing in 1982, the pair was sold privately and has not been seen since. While this note does not compare with the other $50/$100 note in grade, it actually comes from a far scarcer bank. This double denomination example is the only note known from this Kansas City bank, a short lived venture that circulated a mere 460 sheets of $50 and $100 Brown Backs before its demise after only three years of operation in 1893. Like all Double Denomination Brown Backs, the entire reverse is inverted save for the charter number in the center, which was printed in a separate operation from the remainder of the reverse. Somewhat surprisingly, this note actually appears to have circulated for a considerable period of time before being recognized for what it was, as the assigned grade would indicate. Fortunately, the note shows no serious defects, just plenty of wear along with a couple of PCGS-noted "Minor Mounting Remnants on Back," which are very slight. Estimating a note of this importance is often a fool's errand, as the market will determine what it is worth this evening, but once the hammer falls, a true once-in-a-lifetime collecting opportunity will have passed for this entire generation of buyers.


    Ex: Eric P. Newman Numismatic Education Society.


    View all of [Selections From The Eric. P. Newman Collection, Part VI a. ]

    Auction Info

    Auction Dates
    April, 2015
    22nd-28th Wednesday-Tuesday
    Bids + Registered Phone Bidders: 36
    Lot Tracking Activity: N/A
    Page Views: 2,445

    Buyer's Premium per Lot:
    17.5% of the successful bid (minimum $14) per lot.

    Truth Seeker: The Life of Eric P. Newman (softcover)
    A powerful and intimidating dealer of the 1960s, backed by important colleagues, was accused of selling fraudulent gold coins and ingots to unsuspecting numismatists. Who would go up against a man like that and, over the course of decades, prove the fraud? Who would expose a widely respected scholar as a thief, then doggedly pursue recovery of coins that the scholar had stolen from an embarrassed numismatic organization, all over the objections of influential collectors who had bought coins with clouded titles? Eric P. Newman would - and did. Reserve your copy today.
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