Lyn Knight Currency Auctions, a division of Collectors Universe, held a one-day sale of "The Great Western Collection" on December 2, 2000 in Kansas City, Missouri. The 550-lot sale yielded superb results, as price records were set or flirted with in many areas. The auction was held in conjunction with the National Paper Money show.
The star of the sale was a $100 Silver Certificate of 1880 (Fr. 342) in Gem CU condition. This magnificent note, pedigreed to the Levitan collection, is considered to be the finest known of the entire series of Fr. 337-342 notes. With an estimate in the $125,000-$175,000 range great things were expected, and the consignor wasn't disappointed when the note was purchased for $198,000. This price, and all those listed below, includes the 10% buyers' premium. Please note that "Fr." refers to the Friedberg catalogue number.
Type notes were in great demand in the sale, with a Fr. 126b $20 Legal Tender in Superb Gem CU bringing $14,300. A Fr. 151 $50 "Rainbow" Legal Tender in VF-30 realized $22,000 and a $50 rarity (Fr. 159) in Choice CU originally from the Amon Carter collection sold for $35,200.
In a span of only eight lots three sensational notes were offered. A Fr. 167a $100 Legal Tender in Gem CU soared to $88,000 followed by a Fr. 172 $100 Legal Tender in Gem CU at $121,000. Moments later a Fr. 187j $1,000 DeWitt Clinton note in XF was bid to $99,000.
A superb "Silver Dollar Back" $5 Silver Certificate of 1886 (Fr. 259) rocked the room when it sold for $30,800. An 1886 $20 Silver Certificate in Gem CU (Fr. 313) was bid to $77,000 and a Gem CU $50 Silver Certificate (Fr. 328) found a new home at $93,500.
More great notes fell under the hammer when a Fr. 376 $50 "Seward" Treasury Note in XF sold for $60,500 and a $100 "Watermelon" note (Fr. 377) in AU realized $72,600. A Gem CU $1,000 Federal Reserve Note (Fr. 1133) sold for $31,900 and a $50 Gold Certificate in XF (Fr. 1188) brought $44,000.
A $100 Gold Certificate of 1882 with a Brown Seal (Fr. 1201), graded XF and tracing its pedigree to the Grinnell and James A. Stack collections, realized $61,600. Moments later a $1,000 Gold Certificate (Fr. 1218f) in Fine condition sold for $71,500.
The highlight of the National Bank Notes was a serial #1 Red Seal from Ritzville, Washington, that rocketed to $29,700. A Choice CU 1928 Star Note from the Philpot collection realized $35,750 and a 1928-C Star Note in Superb Gem CU finally fell under the hammer at $40,700. Only two lots later an AU example of the 1928-E Star Note sparkled at $46,200.
A crisp uncirculated but lightly repaired $10,000 FRN from New York (1934) was still desirable enough to bring $57,750 and a 1934 $10 Hawaii Star Note in Superb Gem CU rounded out the sale at $26,400.
"The sale of 'The Great Western Collection' was a smashing success," said Cassi East, auction representative for Collectors Universe. "We were inundated with bids from our on-line customers, fax lists, e-mail and in the hotel ballroom as well. Everyone was delighted with the quality of the sale and many are already asking about upcoming auctions."
The next Lyn Knight Currency Auctions sale is scheduled for March 3, 2001 in Rosemont, Illinois, in conjunction with the March 1-4 CPMX show. This eagerly anticipated sale will feature a newly discovered $20 Gold Certificate of 1866 that is potentially valued in excess of $250,000. The ultra-rare note recently came to light in Littleton, New Hampshire, after being held by a banking family for four generations. This spectacular note has already received tremendous publicity, as it was featured in an article in U.S. News & World Report and as a page one story in Coin World. Be certain to check the Collectors Universe website for more information on this exciting sale.
Bruce Amspacher has been a professional writer since the 1950s and a professional numismatist since the 1960s. He won the OIPA sportswriting award in 1958 and again in 1959, then spent eight years in college studying American Literature. This background somehow led him to become a professional numismatist in 1968. Since then he has published hundreds of articles on rare coins in dozens of publications as well as publishing his own newsletter, the “Bruce Amspacher Investment Report,” for more than a decade. His areas of expertise include Liberty Seated dollars, Morgan and Peace dollars, United States gold coins, sports trivia, Western history, modern literature and the poetry of Emily Dickinson. In 1986 he was a co-founder of the Professional Coin Grading Service (PCGS).
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