Colonial Note Public Offering
By Bank Note Reporter
before publicly offered Feb. 3, 1690,
Massachusetts Bay 20 shillings note will be sold
Sept. 24, 2009 in Philadelphia as part of
Stack's paper money and coin auction, in
conjunction with the first Whitman Coin &
Collectibles Philadelphia Expo.
The note is part of the earliest paper money
authorization on the North American continent
and is the earliest collectible paper note in
the American series. The notes were emitted to
pay the disgruntled troops from a failed
Canadian raid when there was no hard money
available to pay them.
Stack's Philadelphia auction will also
prominently feature the first portion of the
Chester L. Krause Wisconsin Obsolete Currency
Collection (more than 300 lots), an important
collection of Civil War sutler notes and
manuscripts, a New Jersey proof sheet archive,
rare Nationals and federal type notes.
The 1690-dated Massachusetts note will be the
first sold at auction since Ford III in May 2004
and only the fourth such note sold publicly in
the modern era (two in 1999). The Ford III note,
sold by Stack's, brought $161,000. This is the
highest auction price realized for a Colonial
American bank note.
This example, raised from a lesser denomination
as are all notes known of this series, is
enumerated on the Ford III catalog census (but
not seen) and has only been in private hands
until this auction. According to Stack's, there
are probably less than 10 examples known from
this series with the majority of the notes held
in foundations or private collections.
For additional information on the 1690
Massachusetts note, the Krause collection, or
the auction, contact Bruce R. Hagen at Stack's,
123 W. 57th St., New York NY 10019. Telephone
(212) 582-2580 or e-mail him at firstname.lastname@example.org.
Stack's Web site is www.stacks.com.