Memphis International Paper Money Auction

Terms of Sale 1. A 15% buyers charge will be added to the hammer price of each lot purchased; eBay bidders pay 20%. 2. All bids should be per lot as numbered in this catalogue. 3. Bids submitted by mail should arrive at least 3 business days prior to the auction session for inclusion. 4. The placing of a bid shall constitute full acceptance of the foregoing Terms of Sale; all mailed and faxed bid sheets must be signed by the responsible party. The placing of Live and or Mail bids constitutes a binding contract with SMYTHE. All bids are considered confidential. 5. Phone bidders should contact SMYTHE at least a week prior to the date of sale; phone bidding will be allowed only on lots estimated at $500 and up. 6. Bids less than 60% of the low estimate will not be accepted. 7. SMYTHE reserves the right to withdraw any lot prior to or during the sale. 8. Invoices will be mailed within 7 business days of the conclusion of an auction session. 9. All successful bidders shall be billed for postage, handling and insurance. All lots (with the exception of bulky or oversized items) will be shipped by SMYTHE at the purchaser’s expense. 10. In the case of a tie between a mail bidder on the book, a bidder on the floor, and an eBay bidder, the mail bidder shall take precedence. 11. Payment for purchases can be made by cash, check, money order or bank wire upon receipt of invoice. eBay bidders may use Paypal to pay their invoices. No lots may be taken away unless paid for in full. A late charge of 1-1/2% per month will be charged on the invoice total if payment is not received within 10 days of mailing the invoice. Bidders not known to us are required to deposit 25% of their total bids in advance. Credit cards will not be accepted for auction purchases. A storage fee of $10 per day will apply if lots are not picked up or shipped within 30 days of the conclusion of the auction. 12. A $100 charge will be applied for any check that fails to clear. 13. New York State sales taxes or other state sales or use taxes shall be levied as required by law. Dealers and other non-residents are reminded that sales tax must be collected unless Form ST-120.1 has been filed properly, under state regulations. 14. Lots will be shipped within 10 business days after payment is received. Lot pick up is available but you must call one day in advance to confirm. To receive tracking information on your package include your email address on your bid sheet. 15. Check your bid sheets and online submissions carefully. SMYTHE cannot assume any responsibility for errors made in the amount bid or lot numbers listed. Make sure your bid sheet is signed. In addition, SMYTHE has no jurisdiction over bids placed with eBay. 16. Prices Realized for each auction are posted within 72 hours on our website, www.smytheonline.com. Prices Realized documents (as published on our web-site) are the final authority on the sale of all lots. 17. Prices realized may be higher or lower than published estimates depending on wholesale and retail market conditions at the time of the auction. Where non-published reserves exist, the auctioneer may make bids in response to others. SMYTHE reserves the right to include its own material in its auctions, as well as to bid on any item in its sales. SMYTHE has advanced money (where requested) to consignors and in addition has agreed to extend credit to purchasers who have made arrangements prior to the sale. SMYTHE has the right to charge interest on all loans and advances. 18. SMYTHE cannot be responsible for the loss of any merchandise shipped outside the United States. 19. All framed and over sized items are shipped at the purchaser’s risk. 20. SMYTHE reserves the right to reject any bids not made in good faith and further reserves the right to ban any bidder from participation in its sales for any reason deemed appropriate at SMYTHE’S sole discretion. 21. A SMYTHE auction bidder expressly waives any claim or right to any accounting, damages or compensation arising out of SMYTHE’S failure to receive or execute any bid due to exclusion from our sales, clerical errors or other causes. No bids will be accepted from any person who has not signed a registration form or a bidder sheet or completed the online registration process. 22. United States coins and currency will not, in conformity with law, be opened at less than face value. 23. No “buy†or “unlimited†bids will be accepted. We will act as agents for all mail bidders in the sale. Mail bids will be opened at the next interval over the second highest bid except where the intrinsic or regular market worth of the item dictates an opening at its fair market value. Floor bidding intervals will have an average increment of about 5% at the discretion of the auctioneer. 24. All bids must be in whole dollar amounts; this includes percentage increases. 25. No minors may participate in our sales. Agents bidding on behalf of others will be held liable if their principals fail to make payment. 26. Title does not pass until payment in full is received. SMYTHE reserves the right to await clearance of any check before making delivery. 27. If a collection agency or attorney is required to collect outstanding accounts, all agency and court costs, witness and attorney fees and all other costs of any kind incurred by SMYTHE in procuring judgment shall be borne by the defendant. 28. The signer of a SMYTHE bid sheet or participant in the auction consents to the exclusive jurisdiction and venue of the state and Federal courts of New York, New York and agrees that these Terms of Sale shall be governed by and construed in accordance with the laws of the State of New York, without giving regard to the principles of conflicts of law. The participant in a SMYTHE auction also assumes both corporate and personal liability for unpaid auction bills. 29. SMYTHE may reopen the bidding on a lot under the following circumstances: a) SMYTHE has failed to execute correctly a mail bid. b) A party purchasing the lot on the floor has done so in error. c) Where a protest is made after the hammer has fallen but before bidding has commenced on the next lot. d) Where the auctioneer has determined that he has overlooked a party still bidding on the lot but before the calling of the next lot. e) At the discretion of the auctioneer. 30. In the event of a dispute, the auctioneer’s decision is final. 31. No price adjustments will be made on the hammer price of a lot whether there is a complaint about the whole lot or only one item in it. The entire lot must be returned if a refund is to be made. 32. In the event of unsuccessful litigation the plaintiff shall pay SMYTHE’S legal costs, counsel and witness fees and all other costs incurred by it in defense against such suit together with interest on any funds expended at the New York prime rate from the date of actual disbursement. 33. The same protections applicable to SMYTHE apply to each and every one of their officers and employees unless they shall be convicted of knowingly selling false or stolen goods. 34. SMYTHE assumes no liability for merchandise lost, stolen or damaged while in the possession of a party to whom merchandise has been shipped. The purchaser is solely responsible for the safe keeping and insurance of any items in their possession. 35. All accounts are payable to SMYTHE in U.S. funds and remittances must cover the service charges for foreign drafts which shall be added to each invoice. 36. All material in this catalogue is unconditionally guaranteed to be genuine. We will not knowingly sell any item that has been “repairedâ€, “restoredâ€, “processedâ€, “cleanedâ€, “pressedâ€, or “conserved†in any way without disclosing those facts to the potential buyer. 37. Agents who bid from the floor for clients should examine the lots carefully, and are reminded that no lots may be returned by floor bidders except for non-authenticity. Lots described as “repairedâ€, “corrodedâ€, “holedâ€, “whizzedâ€, or like damage may not be returned for any reason except non-authenticity. 38. In cases where a question has arisen as to the authenticity of an item, the purchaser must, before the settlement day (30 business days after the sale,) notify SMYTHE of his intention to return the item, confirmed in writing. The item will be examined by a recognized expert; if the item proves authentic, the sale will be consummated. If the item is not authentic, the sale price will be refunded. 39. Bidders who have not examined lots prior to the sale may return lots for reasons of non-authenticity or improper description within 5 days of receipt of the item or thirty days from the auction’s last day, whichever comes first. Third-party graded coins (i.e. PCGS, NGC, ANACS, ICG) are sold as is, no returns. Failure to execute this privilege in a timely manner either from a failure to pay promptly or from any other cause shall void it. Lots sold with the proviso ‘sold as is’ cannot be returned. Lots valued primarily for their bullion content may not be returned. 40. The auctioneer reserves the right to postpone the sale by auction for a reasonable period of time as a result of any significant event which, in the sole discretion of the auctioneer, makes it advisable to postpone the event. No prospective bidder or prospective buyer shall have recourse as a result of any postponement.

All items purchased are subject to payment of New York City and State sales tax on the total purchase price (final bid plus the Buyer's Premium) unless the purchaser presents proof of exemption. An exempt purchaser must provide a properly completed New York State Resale Certificate (Form ST-120) evidencing possession of a valid New York State Resale or, for non-New York State businesses, the equivalent resale authorization from another locale. Purchases will not be released unless all sales tax requirements are satisfied. Purchases shipped outside of New York State are not subject to sales tax.