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April 4th, 2011

Battle of the Bank Notes 4: ExecutiveCurrency.com’s 1934A $5 Hawaii FRN vs. USARare.com’s 1934A $5 North Africa SC

It’s time yet again for another “Battle of the Bank Notes”. Today, we’re featuring World War 2 Emergency Issue Notes, one marked “HAWAII”, and the other a yellow seal silver certificate for North Africa.

Why were these notes made differently from regular issue currency that was circulated around the USA and ally nations?

Troops on the Hawaiian and North African fronts of the war were frequently paid cash for their services to our country. In the early 1940’s, this made sense as both an economical and fast way of compensating active duty soldiers. The Hawaii notes came into regular circulation for troops after the Pearl Harbor attack from Japan, while the North Africa notes were issued in anticipation of a major push into Europe emanating from that region of the world.

If the USA government used regular Federal Reserve Notes to pay troops and conduct other military related financial transactions, it risked the Nation’s currency falling into enemy hands; which could easily be returned to the USA and laundered to produce additional funding for enemy war efforts. To avoid this potential misuse of USA currency, the Bureau of Engraving and Printing created special Federal Reserve Note issues with the “HAWAII” overprint and yellow seal North African Silver Certificate notes. If large amounts of this money fell into enemy hands, it could quickly be deemed useless by the USA government; and the distinct markings of these notes would make them easy to recognize as non-legal tender by civilians and banks on USA soil.

Let’s have a look at ExecutiveCurrency.com’s $5 1934A Hawaii Federal Reserve Note:

This note is in remarkable condition, according to ExecutiveCurrency.com’s Mike Abramson, and that in and of itself makes it a rarity. Abramson also notes that it could easily make a Superb Gem New grade. As a result it might be under-graded by PCGS.

Asking price: $2,995 USD

Here’s USARare.com’s North Africa Silver Certificate:

Ex. Thomas M. Flynn Collection

USARare.com writes that this note is a “superb” example, and hard to find on the high end of the grading spectrum. It’s priced to sell, and carries a pedigree. An outstanding specimen at a very reasonable price!

Asking price: $1,400 USD

More about Mike Abramson, Partner, Executive Currency – www.excutivecurrency.com: Abramson teams up with Error Note specialist Frederick J Bart (consultant) and Doris A. Bart (partner) to offer a plethora of amazing small size notes, in addition to a formidable selection of large size type notes. Executive Currency proudly sells notes to both collectors on a budget or seasoned currency collectors looking for a memorable purchase. The seasonal catalog produced by Executive Currency is filled with fancy serial number notes, error notes, small size notes, and competitively priced US currency rarities sure to please even the most refined tastes in collectible paper money.

More about USARare.com – www.usarare.com: Hailing from Royersford, Pennsylvania, Willy and Bill Baeder offer a variety of USA currency rarities, in addition to more common notes. Large Size, Small size, Error Notes, National Bank Notes, Silver Certificates, Gold Certificates, World War 2 Emergency Issues, Federal Reserve Notes, and an impressive collection of Fancy Serial Number Notes can be found at their website. USARare.com also offers notes on eBay.com, under the username “wwwusararecom”.

Comments are open…Who win’s this “Battle of the Bank Notes”?

Showcase your note in our “Battle of the Bank Notes” column: simply email us: support@papermoneyauction.com with subject “Battle of the Bank Notes” and we’ll happily make a post for you!

by Brendan Meehan | Posted in Battle of the Bank Notes | 2 Comments » |
March 19th, 2011

Battle of the Bank Notes 3: USRareCurrency.com’s 1900 $10,000 GC vs. Jhon E. Cash’s 1900 $10,000 GC

It’s time for another “Battle of the Bank Notes”. Before we show you this edition’s contenders, let’s have a little history lesson first.

It’s 1935, the height of the depression. You’re in Washington DC, out for a stroll after a few beverages at the local bar, passing the United States Treasury Warehouse. Something doesn’t smell right: no, it’s not your beer breath. Instead, the odor is of smoke and fire. To your surprise, you look up and see the Treasury Warehouse ablaze. Then, paper starts falling out the windows as officials attempt to stop the spread of the fire.

Rushing over to one of the singed scraps, you’re dumbstruck: it’s a 1900 $10,000 Gold Certificate in all its glory, and there are hundreds falling from the sky. Your luck couldn’t get any better, and you casually disappear into the night with the solution to all your financial problems, even though the note is still official government property.

Sadly, your new found wealth is short lived. The Treasury is well aware of what happened during the fire, and cancelled any remaining notes, deeming ones that “disappeared” as worthless. If you hold on for another 75 years, maybe you’ll get some cash for it, but in 1935, it’s no better than a supermarket coupon.

Let’s have a look a two surviving specimens, of about 371 known examples.

Here’s USRareCurrency.com’s Note:

This specimen from USRareCurrency.com is in great condition, at the top end of the spectrum with a PMG 63 grade. Most surviving notes were stained by the water used to fight the fire, creating further brown discoloration on some notes. USRareCurrency.com writes that the note has bright white paper, a nice red treasury seal, and no pinholes, tears, or rips; aside from the cancellation punch holes.

Asking price: $7,950 USD

Now, here’s Cash’s note:

Cash has comments similar to USRareCurrency.com’s remarks about their 1900 $10,000 GC. He believes this example to be one of the better notes he’s owned. Additionally, Cash writes that it is very affordable note, compared to a GEM 65 example that went for $12,075 in November 2010.

Asking price: $5,150 USD

More about USRareCurrency.com – www.usrarecurrency.com: USRareCurrency.com offers a memorable collection of rare and highly desirable United States paper money. Based in Redmond, Washington state, this dealer and private collector has amassed an outstanding inventory of both large and small size type notes, in addition to a great selection of low and fancy serial number notes. Member: ANA, SPMC, and PMG. Have a look at this stunning website!

More about Jhon E. Cash – www.jhonecash.com: Jhon E. Cash is the nation’s leading reseller of ultra-high denomination US currency ($5,000 and $10,000 notes). His website currently lists well over 300 notes for sale, totaling just shy of $4,000,000 in value. Additionally, Cash specializes in Star #1 notes, offering a few choice selections from his personal collection for sale. 1899 $1 Silver Certificate Black Eagle fans will drool looking at an impressive collection of fancy serial numbered notes, all in Uncirculated to Gem condition. Cash works with Brandon Kelley, a noted numismatic expert, to offer a full service website for both coin and paper currency lovers.

Comments are open…Who win’s this “Battle of the Bank Notes”?

Showcase your note in our “Battle of the Bank Notes” column: simply email us: theplazacenter1@yahoo.com with subject “Battle of the Bank Notes” and we’ll happily make a post for you!

by Brendan Meehan | Posted in Battle of the Bank Notes | No Comments » |
"Friedberg Numbers" from Paper Money of the United States (19th ed.) by Arthur L. and Ira S. Friedberg are used with permission of the Coin & Currency Institute
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