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Two New Bank Note Rarities Discovered
By Bank Note Reporter

Heritage Auction Galleries has announced the discovery of two new notes. The first is a previously unseen rarity in the form of a 1915 $5 Federal Reserve Bank Note type. The second is the only known serial No. 1 star note from the $2 Bicentennial Federal Reserve Note series. The newly listed Fr. 788a FRBN $5 and the Fr.1935-L* 1976 $2 star will be featured for sale in the 2009 Central States Numismatic Society Convention Signature CAA Auction, highlights of which can found in this issue of BNR.

The Houston B. Teehee/John Burke signature combination on the 1915 FRBN features the previously unknown stamped signature pairing of M.W. Bell, as secretary, and Joseph A. McCord, as governor.

"This is the first note ever reported with that combination," said Greg Rohan, president of Heritage, "and the fact that a new Friedberg number has been created adds to the overall appeal of this note, which is already a beauty without the added value of this 'new' pairing."

The 18th edition of Paper Money of the United States by Arthur L. and Ira S. Friedberg features a listing for a Fr. 788 $5 note carrying bank signatures of M.W. Bell/Max Wellborn, while the listing for the Fr. 789 mentions the J.B. Pike/Joseph A. McCord pairing. The note, graded PMG Very Fine 25, carries an estimate of $75,000 or higher.

The newly surfaced Fr. 1935-L* No. 1 San Francisco District 1976 $2 star had been hidden away by its owner since 1976, when it was obtained (along with the serial No. 2 San Francisco 1976 $2 star, which accompanies it in this sale) by the consignor's grandmother from a Bank of America branch in Oakland, Calif. According to a Heritage press release, "she went in with the express purpose of obtaining a couple of the newly issued $2 Bicentennial notes for her grandson's budding coin and currency collection."

Each of these two notes is described as having one light storage fold from having been stored in an envelope since 1976.

"Otherwise each note is as pristine and undisturbed as the day they were pulled from the pack of bills at the Bank of America in the Bay area."

Each note is graded PMG Choice About Uncirculated 58 EPQ. The pre-sale estimate for the serial No. 1 star example is $20,000 to $30,000.

For additional information, contact Heritage, 500 Maple Avenue, Dallas TX 75219; telephone 800-872-6467; or visit www.ha.com.

 



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