Released on: December 21, 2007, 11:34 pm

Press Release Author: R. M. Smythe & Co.

Industry: Internet & Online

Press Release Summary: The 2 Day Auction of Obsolete Currency Was Met With Heavy
Bidding With 94% of the Listed Lots Sold.

Press Release Body: Manhattan, New York - December 19, 2007 - On Dec. 12 -13, the
R.M. Smythe & Co. auction of part 13 of the The Schingoethe collection of obsolete
currency generated a great deal of interest from bidders. 94% of the 1162 lots
offered were sold totaling $450,000 in sales. Many of the more unique and rare items
far surpassed their pre-auction estimates, perhaps signaling a significant upsurge
in interest for obsolete currency.

Of particular note was a $10 bill issued by the Merchants & Planters Bank of
Tallahassee Florida Ca. 1830s-40s. (FL-70 G10). The bill pictured; a man plowing,
top; 10s in geometric die counters, top left and right; Mercury bears cornucopia
with coins, Juno Moneta seated, left; Washington in classical garb, right. RWH. VG,
crease, toning. The pre-auction estimate was $150 to $250. The realized price was
$3450, including the buyers commission. The $10 Tallahassee note, was not an
anomaly. There were many other lots that far exceeded their pre auction estimates.
These included:

Lot# 1087 - WI. Dubuque, Wisconsin Territory. Miners Bank. $100. Ca 1830s. (WI-170
G2A). Allegorical female seated, Mercury floats, top; Ceres seated, lower left;
Indian draws bow, lower right. This Territoriual entity was chartered in late
October of 1837, and as this portion of the Wisconsin Territory was included in what
became Iowa Territory a scant year later, these were short-lived issues. To our
knowledge, these exciting, large format notes ( 50s and 100s only) show up only as
remainders. Despite signs of circulation, the note appears undated and unsigned.
G-VG, some losses in upper left and lower margins. Estimate - $300 up. Realized -
$2100

Lot# 1136 - OK. Tahlequah, Cherokee Nation. Executive Department. August 6, 1856.
Manuscript warrant entirely handwritten. \"...Will Pay to the Order of H.D. Reese the
sum of Two Hundred Dollars out of the School fund to defray the contingent expenses
of the Female Seminary...\". Signed by chief John Ross. VF-EF.
John Ross was born in 1790. Born to Scottish parents, Ross was 1/8 Cherokee
Indian. He spent his early years in Tennessee, but at 19 years of age, he was
sent on a diplomatic mission involving the Western Cherokees. In March of 1814,
Ross fought alongside of the Cherokees under the command of General Andrew
Jackson in a pitched battle with the Creeks. In 1815 he opened a trading post at
Chattanooga, and a missionary school. He was elected to the Cherokee National
Council where he served until 1826. Ross was responsible for the drafting of the
Cherokee Constitution. In 1838 U. S. soldiers forced the Cherokees off their
land, and marched them from Tennessee to Tahlequah, Oklahoma. This was the
famous \"Trail of Tears\" incident, where over 4,000 Cherokees died. Upon reaching
Tahlequah, John Ross was named Principal Chief of the Cherokees. It was this
title that gave him the authorization to sign this early and important Cherokee
Nation financial instrument. Estimate - $500 to $1000. Realized - $3750

Lot# 158 - IL. Newton. Illinois Central Bank. $2. Dec. 3, 1850. (IL-610 G4b). Green
title and end panels. Haxby Plate Note. Two horses startled by lightning, center;
state die, upper left. Green lathework end panels with TWO. 2 / 2 TWO., left and
right. ABN. Fine, pinholes. Ex. NASCA Abner Reed Sale, October - November 1983 Lot
1486. Estimate $300 to $500. Realized - $2300

Lot# 106 - IL. Griggsville. Bank of Pike County. $5. 1850s. (IL-355 G8a). Red 5.
Proof on India paper. Haxby Plate Note. Indian chief. State arms. Cherubs hoist
wheat into the clouds. DW. AU, two hinges on back. Estimate $500 to $1000. Realized
- $2300

Lot# 927 - TX. Harrisburg. Briscoe, Harris & Co. $3. Dec. 9, 1862. (M-3). Indian
princess overlooking steamship. Woman with 3, left. DT. EF. Estimate $300 to $450.
Realized - $2600

Lot# 861 - Nashville Bank Collection of Counterfeits. 1) $2. 1819. (TN-180 C18).
Seated woman. G-VG. 2) $3. 1816. (TN-180 C22). Haxby Plate Note. Cotton bale. VF. 3)
$5. 1812. (TN-180 C28). Haxby Plate Note. Cotton bale. Fine. 4) $10. (TN-180 C36).
Haxby Plate Note. Cotton bale. VF. 5) $10. 1818. (TN-180 C76). Payable at Gallatin.
Reclining woman. VG-F. 6) $20. 1821. (TN-180 C140). Payable at Shelbyville. Woman
with 20. About Fine. 7) $20. 1819. (TN-180 G160). Payable at Winchester. Woman with
20. VG. 8) $20. 1821. (TN-180 C118). Payable at Rogersville. Fine. 9) $50. 1812.
(TN-180 C52). Cotton bale. VF, hinge repairs. 10) $50. 1810. (TN-180 C52). Cotton
bale. VG. 11) $100. 1811. (TN-180 C58). Haxby Plate Note. Cotton bale. Fine. [11].
Estimate $1000 to $1500. Realized - $2700

Lot# 772 - TN. Fayetteville. Fayetteville Tennessee Bank Collection. All by MDF. 1)
$2. July 1, 1818. (TN-45 G4). Haxby Plate Note. Ornate end panels. VG. 2) $3. (TN-45
G6). Haxby Plate Note. Ornate end panels. VG, repaired tear at left. 3) $5. Aug. 2,
1818. (TN-45 G8). Allegorical woman with spade. VG. 4) $10. March 24, 1818. (TN-45
G12). Allegorical woman. F-VF. 5) $20. April 2, 1818. (TN-45 G16). Allegorical woman
with wheat. VG. 6) $100 Post Note. April 5, 1818. (TN-45 G20). Haxby Plate Note.
Woman with banner. Fine. [6]. Estimate $750 to $1250. Realized - $4250

Lot# 457 - MI. Flint River. Genesee County Bank. $2. July 1, 1837. (L-FLI-5-3 Lee
Plate note; Haxby MI-175 Unlisted; Bowen Unlisted). Maiden seated at center;
children with dog in large circle at right. It is rare that a Michigan bank note
escaped detection by both Bowen and Haxby , but this is an example in hand. A note
of great rarity and importance, Bowen listed several denominations of notes on this
bank as being unique or rather difficult. Strong pen signatures, serial number and
date make this an attractive note as well. The solid condition is very presentable,
and means this note will be securely impounded a great Michigan collection for a
long time. RW&H. Fine. Estimate $600 to $800. Realized - $2300

Lot# 313 - MA. Harwich. Bank of Cape Cod. $4. Oct. 1857. (MA-660 G8 SENC).
Trumbull\'s Signing of the Declaration at top center. Good, wear hole at center
folds. Estimate $350 to $450. Realized $3250

\"We were very pleased at the level of bidding activity at this sale.\" said Mary
Herzog, Vice President of R. M. Smythe & Co. \"Our pre-auction estimates are based on
the latest market prices. To see realized prices as high as these may signal a
significant upsurge in consumer interest for obsolete currency.\"

Realized prices listed, unless otherwise noted, do not include the 15% buyers
premium. A complete catalog of all 1162 lots including photos and realized prices
can be viewed online at: http://static.smytheonline.com/prices_realized/index.php

Accredited media interested in scheduling an interview to discuss this release or
past or upcoming auctions are encouraged to contact Mary Herzog at 212-943-1880

About R. M. Smythe & Co.
R. M. Smythe and Co., established in 1880, buys, sells, and auctions coins, paper
money, stocks and bonds and autographs at their corporate headquarters at 2 Rector
Street in the heart of the Financial District in New York City. To order a catalog,
to contact any of the firm's specialists, or to make general inquiries, call
212-943-1880 or 800-622-1880, or visit the firm's website at:
http://www.smytheonline.com.




Web Site: http://www.smytheonline.com.

Contact Details: 2 Rector Street,
New York
212-943-1880 or 800-622-1880
phil@bignews.biz