Greensheet: ACTIVITY ACROSS THE MARKET
We are pleased to report a significant amount of price activity across multiple types of U.S. paper money. Since we’ve taken over publication of the Greensheet we have set out and execute a plan to provide the currency market with up-to-date, accurate and reliable pricing. We started by adding the Premium Gem-66 grade level throughout the newsletter and expanding listings where applicable, especially in the small size types. Most importantly, we have connected with a group of the most active and experienced currency dealers to assist us with our pricing by providing feedback and input based on their own real-world trading experience. This group includes Dustin Johnson of Heritage Auctions, Sergio Sanchez, a long-time dealer, and Peter Treglia of Stacks-Bowers Galleries. Getting information directly from the “front lines” of the market and passing it on to our readers is the best way we can promote transparency in U.S paper money pricing, something that has not always been present in the market.
This month, we have extensive updates for large-size Demand notes and Legal Tender notes. In the coming months we plan to review large size Silver Certificates and Gold Certificates. We also have the usual updates in small size Legal Tenders, Silver Certificates, FRNs, and Military Payment Certificates. High grade MPC’s, in particular, seem to be increasingly active-although replacement MPC’s seem to be waning.
The Chicago Paper Money Expo has just concluded as of this writing, and the month of April is book ended by two large conventions with a strong currency presence: the Whitman Baltimore Expo and the Central States Numismatic Society convention. CPMX featured a live auction held by Lyn Knight. The sale included over 350 lots of national bank notes and included one of the sale toppers, a series 1902 $5 Red Seal on the First National Bank of Steamboat Springs in Colorado. This note, a repaired Very Fine, realized $24,675. Overall, fancy serial numbers ruled the day. A pair of series 1899 $1 Silver Certificates, Fr.-233 from the B-A block, one with a solid 99999999 serial and the next a 100 million serial, brought $32,900. In the small size notes, a series 1934-A $500 replacement note graded Extra Fine, soared past its high estimate, landing at $10,869. Also of note is a modern rarity, a series 2013 $2 from the Atlanta district with a solid “1” serial which took in $6,465, a substantial sum for a note so young.
The aforementioned Baltimore Expo offers a U.S. currency auction conducted by Stacks-Bowers. Over 600 lots will cross the block in the live session and another 383 lots in an online only session. Numerous highlights are spread throughout the sale: a PMG-67EPQ 1901 $10 “Bison” legal tender note and a gem PCGS-65PPQ 1923 $10 “Poker Chip”. Multiple superb gem Educational notes, and a stellar gem 1905 $20 gold certificate, the “Technicolor”, round out the large size notes. Collectors of high denomination notes will surely take notice of the extensive run of $500 and $1,000 FRNs in the sale, along with a pair of $5,000’s: one each from Chicago and Kansas City. On the national note front, an extensive selection of Massachusetts pieces, including some wonderful original series Aces and Lazy Deuces. Also in this group is an 1882 Brown Back $100 – Fr.-520 - from The Asiatic National Bank in Salem, a significant rarity.
The Central States convention features an auction from Heritage which we will review in next month’s issue.