Manhattan, NY – 17 April 2008 – Spink Smythe Sale April 9, Part 14 of the Schingoethe collection was an outstanding success with the price achieved some notes on world records. The jewel of the sale was a Brigham Young signed Kirtland note (see photo) which had an estimated price of $ 10,000 to the 15,000 and sold for U.S. $ 47,500, breaking the world record previously held by those notes by tens of thousands of dollars. Offer of interest was not confined to the records of Kirtland. Buyers Interest With this award is reflected in their bids for buyers drove prices beyond the pre-sale estimates of foreign exchange for many rare obsolete including:
Lot # 1356 – presale estimate $ 1,250-2,500. Directed $ 6,500
NY. / Albany. / Bank of the Interior. $ 100. January 2, 1858. (NY-70 G16a). Green woodturning in general. Test Document of India. Haxby Plate Note. Maritime Sidewheel. Woman standing with spear and shield. Of Weapons. RWHE. EF.
Lot # 1842 – Estimated cost $ 2,500-4,000. Directed $ 7,000
RI. / Providence. / Globe Bank. $ 50. 18__. (RI-305 G62a; Durand-1379). Test on paper mounted on the map of India. Navigation Coated with a book, globe and dividers. Bold full green overprint. ABN. R-7. Choice Uncirculated, well centered.
Lot # 1996 – Presale estimate $ 1,500 – 3,000. He realized $ 8000
UT. / Great Salt Lake City. / XIII Ward Assembly Rooms. Certificate of the action in stocks. January 15, 1863. Rust 217. Rust plate. Allegorical woman standing with a sword. Signed by Franklin and Edwin Wooley Wooley. Okay, tip off the corner.
Lot # 1999 – Estimate preventa $ 750 – 1250, realized $ 13,000
UT. / St. George. / St.George Stake Tithing Store House. 5 ¢. September 17, 1895. (Rust listed in same oxide series 234). Yellow light. Beehive. Grapes on the back. Ex Criswell / Stanley Gibbons. NASCA 1982. VG.
Lot # 1987 – Presale estimate $ 3,000-6,000. He realized – $ 9,000
UT. / Salt Lake City. / Bingham Canyon & Camp Floyd RR. $ 10. January 15, 1874. (Rust listed). Network Protector "10", green again, with two young daughters. Serial No. 18. A. The corner towers of the train mural. Indian warrior, left. Athena standing, right. Payable at the Salt Lake National City Bank. Not in Utah and Mormon coins and currency reserves by Alvin Rust, or the legendary John F. Ford Jr. Collection. An important rarity. Nice.
Lot # 1971 – estimated cost $ 10,000-15,000. He realized – $ 47,500
UT. / Kirtland. / Reissue-Kirtland Safety Society Bank. (Rust 69). Note Kirtland newspaper published $ 3 UBSH.Train are printed in the hills. Medallion busts in each corner. Dated March 8, 1837 in Kirtland and signed by Joseph Smith, Jr. /. and Sidney Rigdon. The notice was published again in Salt Lake City and countersigned on the face by Brigham Young and Heber C. Kimball. Also signed by NK Whitney and with the secret mark of "TB" for Thomas Bullock. Seal Relief of the Twelve Apostles. Only 23 back $ 3 notes were authorized and registered in the records of the Church. This serial number appears in the census Rust in 4635. This note is beautiful and one of the best we've seen. It is significantly higher than the fate of the Ford VI maybe two degrees. A boldly impressed seal and glare. Light wrinkling, the note is nearly full Very Fine very fine. The eye appeal, might be more refined. May not need an update. It can not be a true act of movement outside the reissued series due to the use and circumstances. The notes were reprinted in some incumbents that Young made "them good as gold" as promised in Ohio by Joseph Smith. The Kirtland notes raised much controversy in the 1830s, the policy was Ohio and the progress of the Mormon religion. However, there is no doubting the importance of this issue of paper money as one of the most famous in the annals of American finance through loans in the program document.
Lot # 1978 – Presale estimate $ 7,500-12,500. He realized – $ 16,000
UT. Great Salt Lake City. Currency Desert Association. $ 2. March 4, 1858. (Similar to the oxide 87, but signed with the hand). A series of notes. Printed in short, fragile paper white. Title of the Book and plow flank. Composite, large "right 2''à. Handwritten signature of Brigham Young. Another historic and rare issue of note. The series was created for use in payments to defenders against the impending Johnston army incursions by the federal government. These notes were backed by livestock and most composing this theme, Series A, B and C have been burned and replaced by the notes of the copper plate with bullets. Generally, these are rarely offered. This example has a good body to it. Small body hole. For the issue, Fine-Very Fine is the correct classification.
"The sale of the Schingoethe obsolete currency exceeded our expectations and reinforced our belief in the power market. "said Caleb Esterline Director of the auction catalog for Schingoethe Spink Smythe." There was an interest particularly high quality of the evidence and issue tickets obsolete recorded in color. New York, Pennsylvania and Ohio consistently sold above estimates. Few states such as Minnesota and Missouri have been extremely competitive. The star of the sale was the selection of letters from Utah with many records that have been defined. Lot 1971 was a record price world for a Brigham Young signed Kirtland note earlier outsold by tens of thousands of dollars. Strong demand has been contagious and quality ratings have exceeded all our expectations. "
The media accredited to schedule an interview to discuss this release or past or future auctions placed on contact Mary Herzog at 212-943-1880
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Article Source: ArticlesBase.com – Spink Smythe Sees World Record Prices Paid for Obsolete Currency at April 9th Sale
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