Smythe’s anticipates best Memphis Sale in its history
June 21, 2007
R. M. Smythe & Co., Official Auctioneers for the 31st Annual Memphis International Paper Money Show, will conduct an extraordinary auction of paper money, stocks, bonds, and related items July 5-7. This wide-ranging auction features over 3,000 lots, and promises to be the biggest and best in the company’s 127-year history. LiveAuctioneers.com will provide live online and absentee bidding for the auction.
The sale begins with more than 200 lots of International Bank Notes. The session will be followed by stocks and bonds, featuring a quality offering of the best in scripophily. Thursday's auction will also offer a collection of carefully selected obsoletes, mostly from Western states, which includes one of the most outstanding Alabama collections ever to appear in a public sale.
Of greatest significance to collectors of obsolete paper money are the selections from the Wellstood Album. Put together in the 1850s, the collection was selected and mounted by a professional bank note engraver, and kept by his family as a treasured reminder of his skill and artistry. Sixty-eight wonderful bank note or draft proofs are included, along with hundreds of vignettes, some mounted on sheets and arranged in the same manner as printers’ sample sheets.
One of the most important items in the sale is the 1862 50 Cent Cherokee Nation note with native text. The denomination appears near the center in English, and in Cherokee. Estimated at $5,000-$10,000, it is sure to attract serious bidders.
Friday evening’s session begins with Colonial and Continental Currency, followed by one of the greatest Confederate bond collections of all time, The Frederick R. Mayer Collection. If you ever wondered what became of all of the great unique bonds that Dr. Douglas B. Ball featured in his Comprehensive Catalog and History of Confederate Bonds published in 1998, be sure to see this historic auction session. In addition to his fabulous bond collection, Frederick Mayer had the foresight to acquire thirteen Confederate Montgomery notes, including two complete sets, which will be offered at the auction.
Friday's auction continues with Southern and Western obsolete notes from the Herb and Martha Schingoethe Collection. There are over eighty different lots of scarce to rare Arkansas notes, including a sutler note from Brentsville, a Fort Smith 1862 $2 redeemable at Boggy Depot, Choctaw nation, numerous Rothert plate notes, and high denomination Proofs from the Bank of the State of Arkansas. Friday’s session ends with a Choice selection of Connecticut notes.
Saturday's auction offers more great examples from the Schingoethe’s Illinois collection. The session ends with a fine run of Wisconsin notes, including five different Territory of Wisconsin notes issued by the Wisconsin Legislative Authority.
Immediately following the Schingoethe Collection, Smythe will be offering Federal Paper Money, beginning with over one hundred lots of Fractional Currency. Almost every major type is represented, and rare varieties are also included. A First Issue 50 Cent Fr.1317 with an inverted back is one of only three known. The 50 Cent Fr.1136 with A-2-6-5 surcharge, and 1& a, is the most rare of the green back Spinners.
Several great rarities appear in the U. S. Small Size session of Smythe’s Saturday evening sale, including an uncut sheet of 1953 $2 Legal Tender Notes that was the second sheet of the first run of this series. The first sheet of the first run of 1953 $5 Legal Tenders features Serial Number A00000001A, and the last note on the sheet is signed by Priest and Humphrey. The ultimate Small Size Silver Certificate Star Notes follow; a $1 1928D Star, PMG 66 with Exceptional Paper Quality, $50,000-$100,000, and a $1 1928E Star in similar grade, estimated at $150,000-$250,000. Both are without a doubt the finest known, and the only Gems reported for these issues. High denomination collectors will enjoy a nice run of over 70 $500 and $1,000 Federal Reserve Notes, including a wide variety of dates and districts.
The “King” of the Small Size errors is the $10 1950A note printed with a $1. This is just one of four Federal Reserve Note Double Denomination errors offered, including a $5 1934D printed with a $10 back, a $10 1928A printed with a $5 back, and a $20 Dallas District with a $10 back.
Finally, Smythe’s Memphis auction always has a nice selection of Nationals, and this year is no different. Smythe’s Memphis Sale has something for everyone, and it should not be missed. The complete catalog is available for preview at www.LiveAuctioneers.com.
