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Landmark 1863 $100 Interest Bearing Note One of Only Three Known!

Enthusiasm
and excitement continues to build as Part 4 of the Joel R. Anderson Collection
approaches on Thursday evening, February 28. The venue will be the popular
Whitman Coin & Collectibles Expo in Baltimore. You are cordially invited to
attend this dynamic show and view the Anderson notes in person as well as see
the many other coins, tokens, medals, and paper money in our multiple auction
sales.
 You are invited to attend the
sale as it takes place, as a bidder or as an observer to see numismatic history
as it is being made.
 Alternatively,
you can view the notes on our Internet site and participate in the sale in real
time as a bidder.

The
Anderson Collection by definition includes notes from affordable and available
to great rarities—among the last being unique and, often, the finest known. As
Joel R. Anderson spent many years forming this extraordinary collection of
large-size federal currency by design types and denominations, by definition it
includes some issues that are not rare. However, even those are in ultra
grades—among the finest known.

This
week we showcase a great rarity—as per our catalog description below. As a
class, Interest-Bearing Notes—never mind the rare $100 denomination—are so
elusive that if you attend a major coin convention you might not see even a
single one among notes for sale!

 

Extraordinary 1863 $100 Interest Bearing Note

One of Three Known

Lot
4019. Friedberg 199 (Whitman-3245). 1863 $100 Interest Bearing Note. PCGS
Currency Very Fine 30.

This is
the second of two Fr. 199 (W-3245) notes featured in the Joel R. Anderson
Collection. The design type depicts Washington standing at center with
allegorical depictions of The Guardian
 at left
and
 Justice at right.
Large green C counters flank Washington at left and right while a large green
security panel is centered below the central vignette. A large red spiked
Treasury Seal is found at top right along with a February 17, 1864 issue date.
The green printed back is intricately detailed with 100 counters to left and
right, and the obligation found within a round frame at center.

There
are three examples known of this catalog number. In March 2018 we sold serial
number 17148, also from the Joel R. Anderson Collection and graded Very Fine 30
by PCGS Currency, for $240,000. That example had minor edge restorations
mentioned by the grading service. The presently offered note, with serial
number 834, is free of any repairs or other impairments. It is well margined on
wholesome, evenly circulated paper. This note and the prior Anderson example
are the only two Fr. 199s (W-3245s) that have ever been offered at public
auction. How amazing this is! How indicative it is of the content of the
Anderson Collection! The third recorded note has never entered the marketplace
to our knowledge and was only reported by one dealer 25 years ago. The
currently offered note has passed through the notable collections of Robert
Schermerhorn and Harry Bass. This is an outstanding rarity and it may be years
before collectors get another chance to secure this design type.

PCGS
Population:
 1, none finer.

From
Robert F. Schermerhorn; Harry Bass Research Foundation; Bowers and Merena’s
sale of May 1999, lot 104; Lyn Knight’s sale of June 2000. lot 309;
Heritage/CAA’s sale of May 2005, lot 16685.

Est.
$100,000-$150,000

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