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 Sunday, November 11, 2007
Some Veterans Day reflections
Posted by george

November 11th. Orignally set aside for the rememberance of WWI soilders, as it was at the 11th hour of the 11th day of the 11th month that the Armistice went into effect after it was signed earlier that morning,  as the time to end hostilities on the Western Front. It was signed in a railroad car in the French woods; which was later blown up by the German army during WWII. After World War II it became more widespread to honor servicemen from all wars, and the name was changed to Veterans Day in the US, and Rememberance day in the British Commonwealth. 

Anyhow, it is also the day after my father's death in 1993.Navy015.jpg He spent six years in the Naval Reserves. But with preperations for the wake and funeral, I found out from the funeral home that short term in the reserves does not make him a veteran in the eyes of the Goverment. No plot, no headstone, no honor guard, no flag. So, as we family decided on a closed casket, I supplied a casket flag from my collection. But the funeral home placed it on the casket the wrong way. So, after getting that fixed, I had to show the funeral home staff the proper way to display a flag on a closed casket as listed in the flag regulations. It was the early 1990s and they were just not having the experience anymore with military funerals.

In 1951, his summer cruise was on the USS Navarro APA 215, out of Norfolk, Va. where he got to load 40mm guns.  In 1952 he was on the USS Osberg, DE 538 (destroyer escort) out of Newport, RI where he was assigned to the 5-inch guns aft; and in the fall on the PC 1182 (sub chaser) out of New London, Conn. where they got to cruise down the East River (right past Astoria Park, near where dad lived at the time) into the Brooklyn Navy Yard.NavyMom.jpg

My dad's other activites in the Naval Reserve included a long trip to the Panama Canal, Panama City, Cristobal, Panama and Cartagena, Columbia in late June 1954. On that trip he brought home for his fiance (soon to be wife) a Panama 1 Balboa coin in a jewlery mount. I remember looking at that coin when I was a grammer school student, and Mom still has it.

However, the coolest photo group I have is of the reserve unit's Christmas Party on the training ship Praire State (The former Battleship USS Illinois, of the Great White Fleet fame), with my dad in uniform, my mom in a satin ball gown, and music by Burl Ives and the Bob Logan Band.NavyIves.jpg

In addition to what I rembember of my dad's stories of life aboard ship and his photo album, I have from his collection a lighter from the USS Osberg, and a water decal on metal car topper from the N.R. Surf. Div 3-79, NY.

No matter what else was in his wallet - up until the end, he always had a wedding photo and one of him working shipboard. He was proud of his time in uniform.

So, make sure you have your poppy on this week, and say thanks to a veteran.

George



11/11/2007 1:06:24 PM (Eastern Standard Time, UTC-05:00)  #  Comments [0]
 Friday, November 09, 2007
Days at the Bullion counter at Deak-Perera, 1980, part two
Posted by george

Working the Bullion counter at Deak-Perera was interesting.

Our store manager was George Parola and he was assisted by an older fellow named Jack. After the numismatic division was closed, George transfered to the Foerign Exchange office which was located in the concourse of the World Trade Center, still later he moved companies and is now with a Foreign Exchange office in the Rockefeller Center complex where he is still. Jack was a veteran of the 1950s and 1960s Nassau Street Coin and stamp shops, he later went to the Stamford, Conn. office.

We had our shipping clerk, Tom, who packed the registered boxes of daily Kuggerrand and Maple Leaf sales. The post office was located on the basement level, so he did not even have to brave the weather.

Eric was another young fellow, who had studied Zoology, but seemed destined to never work in the field. Sometime in the late 1980s he was working as a floor manager at Macy's flagship 34th Street store.

There were one or two others, and some were a bit odd at best.

Then there was the public.

Being by the passport office was a great location for foreign exchange, and the street store got lots of traffic, but sometimes folks would stop into the numismatic division by error. On one of the days, it was Tiny Tim.

It was interesting to learn the rules pertaining to cash transactions, tax implications on taking possession or having stuff mailed, and remembering not to set off the alarm by removing the last bill in the cash till.

Working with the public was exciting. On one ocassion I was buying 11 ounce pieces, thus getting near to the 10,000 cash reporting limit, from a well dressed husband and wife who said they were farmers in the upper Midwest. A day later he came in again with his wife for another transaction. Finally, on a third visit, this time alone, he confessed that his wife should not know about this third sale. But he felt it was time to cash out of gold and move into something else.

Mostly we had Maple leafs, and Kuggerrands (there was not an embargo on them as yet) On a lesser scale, British Sovereigns, French 20 Francs and German 20 Mark coins, then Austrian and several others.

On several occasions we had UN diplomats visit. They got to exchange gold to cash without limit. We just needed to photocopy their diplomatic identification. This lady and her escort asked to make use of our private room, and then she started to pile out 1, 2-1/2 and 5 pahlevi coins. Those were nice to see, and when all was said and done the Shah's daughter left with a large bit of cash.

Life and times in the big city.

George



11/9/2007 11:11:16 AM (Eastern Standard Time, UTC-05:00)  #  Comments [0]
 Tuesday, November 06, 2007
Yikes, Gold at 28 year high!
Posted by george

Okay, so gold today has gone over $825.00 an ounce, the highest since January 1980.

Boy, does that bring back memories. In 1980 I was at the ANS doing some research work on their transportation token collection when then curator of Modern Coins, Richard Doty received a call from the firm of Deak-Perera, looking for a fellow with some coin knowledge interested in working the counter of their 5th Avenue location. As I was there at the time, Doty recommeneded me, and within a week I had an interview, was getting a polygraph test, and figured out a college class schedule that was Tuesday-Thursday classes, leaving three days at the "office".

The midtown office was a first floor location opposite St. Patrick's Cathedral which did Foreign Exchange. The second floor office, just off the escalators from the lobby, was situated near the entrance to the New York Passport office. That second floor office handled the "Numismatic" trade, and Bullion.

In January it was crowded. People three and four deep at the counter. We has a front counter for gold and collector coins, and a side counter for silver, with a coin counter. The staff would be given price updates throughout the day, and we would buy or sell gold, and pay out in check or cash, up to the reporting limit of 10,000.

February, March, gold settled back. The office got quiet. April saw a two week NYC Subway Strike and a very quiet office.

By June, I was gone. Unemployed. However, I was soon back at the ANS, as a part-time photographic department clerk thru the rest of my college years.

I meet some fun people in that 5th Avenue office. Some I still see in the NYC numismatic scene, some I've never seen again, and others have gone onto their great reward. Including Mr. Nicholas Deak, who was shot in his 29 Broadway office in 1985.

What will gold do this time? I do not know, but it has brought back some fun memories for me.

George

 



11/6/2007 3:14:18 PM (Eastern Standard Time, UTC-05:00)  #  Comments [0]
 Thursday, October 25, 2007
Iola kids get tokens as treats for Halloween !
Posted by george

What do you give for Trick or Treat?

 

Growing up in Astoria, NY, and living on the same block for my whole existence there, I was well known by many folks in the neighborhood, even at an early age. Apartment building doors were often opened, and with an older brother, his friends, and five cousins living down the street in an area filled with 6 to 60 family apartment buildings, the Halloween take of trick or treat candy would often be enormous. Coins too!

 

Since moving to Central Wisconsin, I decided not to give out candy. I have gone out of my way to give out “memorable” items. Sometimes that has been foreign coins - Canadian 5 cent pieces from the 1930s were a specialty one year – to California pinecones (you know the very very large kind), to sea shells – Hey kid, those are skeletons!,  (“way coooool Mr. Cuhaj is giving out skeletons” they were heard to shout to their approaching friends.) The pine-cones and sea shells I bought at summer estate sales (the sea-shells amounted to over 35 pounds, for 25 dollars! – The California pinecones were two large garbage bags full, collected by an ex-crafter.)

 

Co-workers would question me the following Monday to see if the strange thing in their kids bucket came from me, yes, most of the time they did. (But seriously, folks in this town give creative items out, from comic books, to baseball cards)iola077.jpg

 

Since 2003, I have been in town for Halloween for the odd years only. I’ve given away a cast pewter token as my treat item. It is quarter sized, so the kids think they are getting something expensive, but as they leave and reach into their plastic pumpkin then reality sinks in as they read it. I remember one young fellow who was walking away saying to his mom, wow a quarter, well no…so the mom says, Well what does it say….It says, “Listen to your Parents”…then his mom replied “Well, I guess you got tricked!”

 

Using 2x2 inch Corian® sample blocks that I bought in quantity on a popular internet auction site, I’ve gotten them simply engraved at a local trophy shop. The obverse with a pumpkin and the legend: HALLOWEEN, IOLA, WIS., and a simple GC as the eyes. The reverse, I have developed a simple reminder phrase. Pewter can be melted in a Pyrex® container on an electric stove. I just an old table spoon as a ladle, just the right amount in a scoopful to fill the mold.

 

In 2003, I used “Be Good to Others”, in 2005: “Listen to your Parents” and for 2007 they will be getting “Choose Wisely.” The tokens are dated on the reverse. I cast about 325 each year. And each year I have been giving that many out!

 

For ten years some of my co-workers have warned me that my line of cedar trees will get egged or TPd, however, I think that making a simple token, similar to a pocket angel, has been a fun way to share the hobby with the next generation.

 

Oh, yes, I dress up too, but you’ll have to come into town to see that. The date for Iola is Sunday, October 28th from 2-4 in the afternoon. Be there or be square!

 

George



10/25/2007 9:01:57 AM (Eastern Daylight Time, UTC-04:00)  #  Comments [0]
 Tuesday, October 23, 2007

Posted by george

Tom Marringer’s Lord of the Rings Fantasy Coinage

 

With the revision of the fifth edition of Unusual World Coins now off to the printer, it is time to reflect for a moment on some of the stuff I have been exposed to during the production of this latest update of a ‘fun’ numismatic reference. Everyone wants a catalog for their stuff, even if it is out-of-the-ordinary stuff, UWC has provided that medium, and now with listings on the Web, www.numismaster.com does too! (via a subscription, thank you very much!).

 

As collectors of numismatic stuff, my co-editor Tom Michael and I often jump with both feet to support modern producers of UWC items. Yes, we do support the hobby we report on as book editors.farthing.jpg

 

Mention of coinage in books has always been a welcomed treat while reading.

 

However, seldom has only three references in a famous trilogy created such a wonderful group of fantasy coinage, sadly now ended due to legal issues.

 

Tom Marringer, of Springdale AR, operated as the Shire Post Mint. He created at first a system of rubber stamps and postage labels mimicking postage stamps from the Shire and other lands in the J.R.R. Tolkien series. In time this operation was expanded to the creation of coins for some of the different lands in the Lord of the Rings series. The Shire, Mordor, Elves, men of Dale, Gondor and even the dwarfs were all eventually represented. gondor.jpg

 

Sadly, there was a bit of a legal entanglement with the Tolkien Enterprises, the minting of LOTR material has now come to an end.

 

However, Tom does produce some items relating to other lands, such as Leif Erickson coinage from Vinland, items from Westeros, and a short series for Camelot and Arthur Pendragon.

 

George



10/23/2007 9:55:35 AM (Eastern Daylight Time, UTC-04:00)  #  Comments [3]
Bank of Gringotts notes push legal limits
Posted by george

Harry Potter and Bank of Gringotts Banknote Series

 

Two years ago, after the 4th edition of Unusual World Coins was released (after a 12-year break), there was a bit of inter coin – paper money rivalry in the department cubes and the success of the UWC book began to beg the question if I would do a book on Unusual World Bank Notes.

 

Well, I think that with the abundance of Hell bank Notes, political parody items, as well as the more traditional advertising notes, Base Ball team notes and MPC Fest certificates (which already has a catalog) that such a product could be extensive, but sadly economically unfeasible.

 

However, with the continual advancement of photo editing programs, and improvements in personal printing, some issues could be made quickly and still be of reasonable quality.

 

Sometimes, the distribution methods for parody notes are a bit harder to track down both by way of merchandising and production. The group I would like to feature is two series of bank notes produced featuring characters and scenes of the Harry Potter Movie Series.

 

Gringotts Bank, plays a part in the second book and movie – The Scorers Stone, as the location of where the stone is kept until re-location to Hogwarts school by Hagrid, and the location of the cash supply of gold and silver coin which is Harry Potter’s inheritance, and which he needs to tap into to buy school supplies. It also plays a role in the final book.

 

The notes are produced in designs, colors and denominations similar to Bank of England notes. You can divide them into a student set and a teacher set. I’ll list out the face and back designs.

 

Featured on the student set are:

Drago Malfoy, 1 Galleon (Lucius Malfoy on back)

Hermione Granger, 5 Galleons (Hermione mixing Polyjuce Potion)

Ron Weasley, 10 Galleons (Hogwarts Express)

Harry Potter, 20 Galleons (Harry Potter and the flying car)

Harry Potter, Hermonie and Ron with house elf (Harry and the serpent)

 

From the Teacher set, we have represented:

Gilderoy Lockhart, 1 galleon (Sybil Trelawney on back)

Severus Snape, 5 galleons (Snape and Hedwig)

Rubeus Hagrid, 10 Galleons (Hagrid and fang and stone house)

Albus Dumbledore, 20 Galleons (Basilisk statue and Professor Quirrell)

Minerva McGonagall, 50 Galleons (Owl)

 

The one pound notes have a helpful conversion table from Galleons to sickles(17 to the galleon) and then knutes (29 to the sickle). The coins have been available for some time. They were struck and made available by the Pobjoy mint.

 

These bank notes have not been advertised widely in print or on the net, and certainly there would be a bunch of legal action against their distribution as they are unofficial merchandise.

 

George



10/23/2007 8:54:30 AM (Eastern Daylight Time, UTC-04:00)  #  Comments [0]
 Monday, October 08, 2007
Medals in the news! Nobel, Olympic and Pulitzer
Posted by george

When one usually thinks of medals, these are the ones which come to mind:  Nobels - The Peace Prize, along with prizes in medicine, chemistry, physics, literature and economics, overseen by committees in Norway and Sweden, and presented in December of each year (and anounced throughout this second week of October!). The Olympic medals awarded every four years, in bronze, silver and gold for athletic acheivement. For journalists and publishers in the United States it is the Pulitzer Prize Medal overseen by Columbia University. Awarded in bronze in many classes to individual writers and once each year in gold to a newspaper.NewsdayPulitzer.jpg

Heritage Auctions of Dallas, Tx,  held a Long Beach Token and Medal sale September 28th. Presented in it were three gold medals awarded in 1954, 1970 and 1974 to Newsday, the major daily paper on Long Island, NY. The sale price for the medals were $7,000, $4,500, and $4,000. Not bad for a 14 Kt. 2 1/2 inch medal (a bit more than 3x melt at the lower levels.)

However, when informed of the sale, the current management of the paper thought the medals were actually safe and sound locked in the office safe. So now the plot thickens. The AP gets the story, it gets spread across the wire service to papers in the U.S.,  Canada and Japan. The NY Times, the Chicago Tribune and the Washington Post check their collection of medals (and find them all safe and where they belong). The Suffolk County Police start to figure out how the medals left the newspaper to be purchased at an estate sale in 2001.

Okay, where does this leave collectors?

Personal awards are nice, to the awardee and perhaps the immediate family members. However, once they get passed off to grandchildren who may never have meet the awardee, or worse yet, nieces and nephews who may not even have remembered the awardee, then it is just an item with value, to be sold. Sometimes the selling is done by the awardee, if they happen to fall on hard times. The funds that the award medal can generate can be used to raise some ready cash to pay rent, winter heating bills, or a medical expense. How can we judge how those decisions are made?

Why do we put such emphasis on the award trinket rather than the award action?

Yes, this case will cause a sensation. There is a question of true ownership, and possible theft in the past, thus clear title has not passed. I think that the medals will eventually be returned to the Melville offices of Newsday. The newspaper may have to pay someone for them, but they hereafter will be kept safer. The newspaper if they were really proud of them, should have had them on display, rather than copies! That would have kept them in the public eye, and safe!

But what about collectibility of other named and important medals? I feel that if they are acquired by legal means than they are available, then they can be collected. Numismatists can research their story and share them thru publication or exhibition at a convention.

The Academy of Motion Picture Arts and Sciences group has always conted that the Oscar is only a temporary ownership item, and now makes recepients of the statue sign "temporary custody" forms, that the gold plated statue is the propery of the Academy and not the actor, so that they will not come into collector hands. That goes a little too far. They give a price to an actor or actress, the award becomes theirs to do what they please. 

George Cuhaj



10/8/2007 6:03:25 PM (Eastern Daylight Time, UTC-04:00)  #  Comments [0]
 Thursday, October 04, 2007
Bank notes of the Confederate States of America
Posted by george

Value of a bank note please? I have a Confederate $1000 bill and it is old!

 

Sadly, as the loosing government in the War, Confederate obligations are not redeemable into an equivalent amount of U.S. Currency or Euro notes. Notes which circulated during the Civil War era in the southern states were issued by the "national government" - using the title of Confederate States of America, or they could have been issued by the individual states, thus they have a title of State of South Carolina and Confederate States of America as the format of the issuing authority. Finally, even local towns or counties issued notes.mont.jpg (these are very popular as local interest collectibles.

 

Original Confederate notes are usually printed in black, with a second color as an under print in green or red; the designs are sometimes uniface, but often the backs have a red or blue design. The paper was often of a quality white cotton material. Local issues are often found printed on remainder stock, using the unprinted plain backs of unissued notes from an earlier timeperiod. Some of the $10 notes which circulated in Lousiana have the French word DIX in large letters, thus one of the nicknames for the south, known as “Dixie

 

Issues from the first capitol, Montomery, are call the first issue, and are expensive. The Montgomery note illustrated above was recently sold by R.M. Smythe for $52,500 not inculding the buyer's premium. It is in spectacular condition (no folds, bright color, nice centering).

 

Issues from the capitol as Richmond are from the numerious issues for the rest of the war, and are usually very common.

 

At the end of the war, some notes were printed on their plain backs, with heroic poetry, or advertising. Many returning Federal troops brought the "worthless" Confederate currency home as a remembrance.

 

Reproductions have been made as early as the 1870s. They were intended as souvenirs. The Civil War anniversaries of the 1910s, and 1960s were a time for many reproductions. The earlier ones especially were done with proper colors! Those done since the 1950s are usually found only in black, printed on one side, and on a paper which is orange-ish, crinkly and wrinkled. These are often found sold at Civil War Battlefields in sets of six. Those made since 1974 should have the word Replica, Copy or Facsimile somewhere on them, usually in one of the left or right bottom corners.

 

George



10/4/2007 6:09:55 PM (Eastern Daylight Time, UTC-04:00)  #  Comments [0]
 Monday, October 01, 2007
Passing of a friend of the medal. Joseph Veach Noble.
Posted by george

Today, I read in the NY Times, the obituary of Joseph V. Noble, a former director of the Museum of the City of New York who earlier (1956-1970) was an administrator at the Metropolitan Museum of Art, died Saturday September 29th in West Orange, N.J. He was 87. 

The New York Times obituary by Alison J. Peterson continued "While Mr. Noble exposed forged pieces of art, he also openly created some of his own. Through his research of Egyptian and Greek ceramic material, he discovered the secrets of the techniques used in making the ancient art. He made a hobby out of creating replicas on a kiln at his home in Maplewood. He later published a book on his research, “The Techniques of Painted Attic Pottery.”"Noble.jpg

When he arrived at the Museum of the City of New York, it had been primarily concerned with New York history. Mr. Noble worked to make his exhibitions more contemporary and accessible. This photo to the right is from the era of his Museum directorship.

In a 1972 interview, he said: “I feel we should keep one foot in the past. The past is only prologue, but unless you know what the prologue is, you can’t really know the present.”

Friends of sculpture know Mr. Noble as a supporter of the sculptor. Connecting with many of them thru the National Sculpture Society, and getting them commissions by introductions to those developers working in the city.

To collectors of Medallic Art, we know him from his association as artistic director of the Society of Medallists. The twice-annual subscription based contemporary art medal group begun by Medallic Art Company in the 1940s. He was active selecting artists, thems and then working with artists to get a nice product produced. This association lasted thru the late 1990s after which the new owners of Medallic Art Company changed emphasis.

I first meet Mr. Noble at a NY City Hall Ceremony in March of 1979 During the 75th Anniversary of the opening of the NYC Subway. The Museum of the City of New York has the silver spade shovel which was used at the 1900 ceremony, and Mr. Noble had brought the shovel to participate in a re-enactment of the groundbreaking ceremony. Although surrounded by politicians, the shovel never left his hand. I got to photograph him at the event.

I later got to enjoy many other meetings with him thru attendance at events of the National Sculpture Society, the American Numismatic Society and the American Medallic Sculpture Associationn and FIDEM.

He was always friendly with advise for further research and encouraging of ongoing projects.



10/1/2007 11:42:42 AM (Eastern Daylight Time, UTC-04:00)  #  Comments [0]
What is it worth? Postage Stamp Envelopes used during the Civil War.
Posted by george

Postage Envelopes used during the Civil War era.

 

As was mentioned in the previous posting about fractional currency issued by the federal government during the Civil War, there was extensive hoarding of coins. To fill the need for small change merchants resorted to several alternatives. Some had one cent tokens minted, with patriotic themes or advertising; others printed small envelopes and enclosed mint postage stamps in them, still others used advertising encased postage stamp in a brass and mica frame, finally some printed cardboard chits.PSE2.jpg

 

If they chose the postage stamp envelope option, they come in several forms. Sometimes the envelopes were printed with just the name of the printer or stationary company on the flap, and the other side with a large legend with the value of the stamps enclosed.PSE1.jpg

 

Others were printed as full advertising envelopes, not only stating the value, but advertising the merchant who had the envelope made. They are known from Boston, New York, Philadelphia and several other cities, New York being the most common.

 PSE3.jpg

After the war, many of these envelopes were destroyed and the postage stamps used. Those that remain have often been preserved by having been mounted in scrap book albums. Some are now just the advertising side, complete envelopes are scarce.

 

Postage Stamp envelopes have been embraced by both the stamp collecting community as well as the numismatic community as an emergency type of currency. They are listed in both the Scott’s Specialized U.S. Postage Stamp Catalog, and the Standard Catalog of U.S. Paper Money published by Krause Publications. Their values were steady in the 200-500 dollar range until about six years ago when interested started to turn in that direction. Now most damaged common envelopes sell in the $500 range, with the commonest complete envelopes $2,000-4,000 range. The very rarest will soon be aproaching the $10,000 mark.

 

In a R.M. Smythe auction of April 2007, the Western Reserve Historical Society collection of postage stamp envelopes was sold. It consisted of 51 envelopes, of which there were 17 new issuers or varieties.

 

In the October 11th sale of Stack’s, part XIX of the John Ford Collection, there is an extensive offering of Postage Stamp Envelopes. Many of which are unlisted varieties (Mr. Ford was often hard to work with, and usually did not share information or collected items which took a lifetime to acquire. He kept what he knew about stuff close to his vest to be used for his own advantage). The illustrations in this blog come from the upcoming Ford Sale by Stack’s.

 

The appearance of these two large offerings will cause me to re-number and expand extensively the Postage Stamp Envelope section in the 27th edition of the Standard Catalog of United States Paper Money. Watch for it midyear 2008!

 

George Cuhaj



10/1/2007 10:35:33 AM (Eastern Daylight Time, UTC-04:00)  #  Comments [3]
 Friday, September 28, 2007
What is it worth? U.S. Fractional Currency
Posted by george

Fractional Currency during the Civil War era.

 

During wartime, hard currency (silver and gold coins) is often removed from circulation by the public and hoarded. At the onset of the Civil War, to facilitate continued commerce, the U.S. Government started to print small format notes in denominations of 5, 10, 25 and 50 cent denominations during the period from 1862 thru 1876. In 1864 a 3 cent value was added.FCPC50.jpg

 

The first series issued in 1862 use postage stamp images as the central design, with multiple stamp images for the higher denominations.

 

The second issue was released in October 1863, and features George Washington as the central design on all denominations.

 

The Third issue of December 1864 featured the introduction of a circulating 3-cent value and an essay of a 15 cent value (although that never circulated, but is plentiful as an essay). The Fourth issue was released in 1869, and a fifth issue was used from 1875-1876.

 

It was not until extensive silver mines were found in 1870s that the coin shortage began to be relieved after the Civil War.

 

Many of these Fractional Currency notes are found in circulated condition and are available for under 20 dollars. Very nice condition notes, like those illustrating this blog posting areFCLincoln.jpg hundreds to thousands of dollars.

 

Stack’s Rare Coins of New York City is currently offering a nice selection in their October Sale of part XIX of the John J. Ford Collection.



9/28/2007 9:56:28 AM (Eastern Daylight Time, UTC-04:00)  #  Comments [0]
 Tuesday, September 25, 2007
Value of a bank note please? My note has a blue, yellow, brown or red seal?
Posted by george

My bank note has a blue (brown, yellow, red) seal?

 

Since Series of 1966, the federal government of the United States has only printed and issued for circulation notes with the Treasury seal in green - They are Federal Reserve Notes.

 

Since 1928, bank notes of the United States have been printed in this small size format. Prior to series of 1966, there were several different types of these small size notes, depending on the issuing authority or the type of backing of the currency, these have different colors to the Treasury Seal. No mater what color seal, all of these notes are still legal tender for their face value.

 

National Currency, called by collectors National Bank notes, have brown seals.brown.jpg These were issued in the small size format with a series date of 1929, and come in two types depending on the format of the serial number and bank charter number. Although printed by the federal government, were issued into circulation by local banks that held a federal charter, naming them as National Banks. The note issue was backed by government bonds which the named bank bought. Although dated 1929, they were released by banks until the early 1930s. Many towns still have a National Bank, and if they are old enough, may have issued a bank note with their name on it.  

 

Yellow seal notes are called Gold Certificates. gold1.jpgThe only ones available to collectors in the small size format are series 1928 (a series 1934 was prepared, but not released). Until 1933, when the United States was taken off the gold standard, there was a dollar worth of gold held by the government for every dollar gold certificate in circulation.

 

Blue seal notes were made until series 1963 and these notes are called Silver Certificates. At one time there was a dollar worth of silver held by the federal government for each silver certificate in circulation.

 

Red seal notes are labeled United States Notes at the top, and are often called Legal Tender notes by collectors.red1.jpg These were printed with series dates ending with 1966. The note issue was backed by bonds.

During World War II, the US military personel serving in North Africa were paid with Silver Certificates which had yellow seal. Those notes above $5. which circulated in Hawaii were Federal Reserve notes with brown seals. They also used $1 Silver Certificates with a brown seal. This was done in case large amounts of currency were confiscated by enemy forces. The Federal Goverment would have invalidated the issue thus causing no financial gain by the enemy. From 1946 thru 1973 American troops serving overseas were paid in Military Payment Certificates, which have been discussed in a previous posting.

Large and Small size currency of the United States are discussed in Arthur and Ira Friedberg's Paper Money of the United States published by the Coin and Currency Institute. Krause Publications publishes the Standard Catalog of United States Paper Money, by George Cuhaj (Hey that's me!) and William Brandimore (now in Full Color!)(Includes large and small size currency, and star note pricing), as well as the Standard Guide to Small Size U.S. Paper Money by John Schwartz and Scott Lindquist (Includes serial number block run pricing, as well as star note print runs and prices). Finally, BNR Press prints the Comprehensive Catalog of U.S. Paper Money by Carlson Chambliss.

All of the note illustrations in this particular blog posting are from Lyn Knight Currency Auctions.

George


Paper Money Values
9/25/2007 11:13:19 AM (Eastern Daylight Time, UTC-04:00)  #  Comments [5]