Fr. 757 $2 1918 Federal Reserve Bank Note PMG Choice Uncirculated 64....

Click the image to load the highest resolution version.

Sold on Apr 30, 2010 for:

Not Sold

Get one of these:

Share this lot

Track Item Printable Auction Results

Sell One of These

Description

Auction Info

Guides & Info

Description

Serial Number One Battleship

Fr. 757 $2 1918 Federal Reserve Bank Note PMG Choice Uncirculated 64. On June 29, 1946, this trophy was first presented to the numismatic collecting community in part six of the sale of the Albert A Grinnell Collection of United States Paper Money. The description read in part, " $2.00-$5.00, Cleveland, Ohio. Sigs. Teehee and Burke, Baxter and Fancher, Plates 1, A beautiful and rare pair of notes with matched serial No. 1." Cataloging of the day never elaborated on the individual attributes of a note's condition, though this note appears fully Gem, with hefty and nearly perfect margins. The embossing is ideal and easily seen in the holder.

The list of Friedberg Numbers for Battleships is 34 entries long. Of that number, only four serial number 1 notes are known, but the number available to collectors is limited. A listing of the pieces is as follows:

1. Fr. 750 Serial Number B1A, CU: The first and only listing in the census is a Phil Lampkin fixed price list entry in March of 1969. It was advertised as "Price on Request."

2. Fr. 757 Serial Number D1A, PMG Choice Uncirculated 64: The example offered here.

3. Fr. 762 Serial Number F1A, CU: Previously part of the James M. Wade Collection. Wade was considered a personal friend of Treasury Secretary William Woodin and succeeded in assembling an amazing array of rarities, including splendid U.S. Demand Notes, a complete set of Series 1878 Silver Certificates topped by the $100 (Fr 337) payable at San Francisco, an exceedingly rare $5/$10 Series 1914 note, a Series 1891 $50 Coin Note with serial number A1, and additional rarities. When Wade's Collection was presented in a Bebee fixed price list in 1956, this note was priced at $90. Aubrey Bebee purchased the note for his personal collection and subsequently donated it to the American Numismatic Association where it resides today. While this note is available to the collecting community for as little as the price of airfare to Colorado Springs, one cannot take it home.

4. Fr. 776 Serial Number K1A, CGA Gem 65: First appeared on Bebee's fixed price list of Wade's collection at $100. In five auction appearances from 1990 to 2002, this piece realized between $7,500 and $13,200.

There was limited appreciation for serial number 1 rarities until the last few years. Now they grab headlines and are subject to fevered bidding wars. In our September 2008 Long Beach Signature Auction we sold the Fr. 871a $5 1914 Federal Reserve Note Serial Number 1 example for $109,250. A year ago in our 2009 Central States Signature Auction, we were pleased to feature an About Uncirculated 1976 San Francisco Star Deuce that realized $29,900. That piece was also a serial number 1 note. While both of these pieces were unique for their series, they serve as a barometer for pricing. The Battleship is an iconic design on one of the most popular denominations ever collected. Add the extremely rare serial number 1 to the mix and expect a realization here tonight of...