Released on: April 2, 2008, 2:46 am

Press Release Author: Mary Herzog

Industry: Advertising

Press Release Summary: 1037 lots from the Herb & Martha Schingoethe collection of
obsolete
currency to be auctioned Wednesday April 9th, 2008


Press Release Body: Manhattan, New York - March 31, 2008 - Spink Smythe
(http://www.Smytheonline.com) to offer Part 14 of the Schingoethe
obsolete currency collection April 9th, 2008. The auction will contain
1037 lots of obsolete notes.

When it came to coins and paper money Herb Schingoethe collected almost
everything, but it was obsolete currency that his wife Martha liked to
collect most of all. She fell in love with the incredible diversity of
issuers, and with the artistic quality of the vignettes on the notes.
She enjoyed meeting and dealing with the people who bought and and sold
obsolete currency. Martha had the skills and the energy required to
organize and maintain everything they acquired. Her husband Herb had the
passion to collect on a grand scale. Together they created what is now
known as the Schingoethe collection.

On April 9th, 2008 Spink Smythe will be offering part 14, as this
incredible collection continuing the tradition of exceptional rarities
and choice notes from many diverse series. This sale feature the final
section of Illinois notes from Herb\'s core Illinois collection that were
treasured by Herb and Martha. The sale also includes many western
rarities including some exceptionally rare Utah notes. This sale also
contains notes from the North, South and Midwest, including many pieces
from Connecticut, Maryland, Michigan, Missouri, New Jersey, New York,
Ohio and Tennessee. Many well vignetted and choice proof notes that Herb
and Martha prized are also featured.

Some of the more interesting notes being offered at this sale include:

*Lot** #1978 - Estimate *$7,500-12,500
*UT. */Great Salt Lake// City//. /Deseret Currency Association. *$2.
*March 4, 1858. (Similar to Rust 87, but hand signed). Series A Note.
Printed on thin, frail white paper. Book and plow flank title. Typeset,
large `2\'\' at the right. Handwritten signature of *Brigham Young*.
Another historic and rare issue of note. The series was created to use
in payments to defenders against the impending Johnston\'s Army
incursions by the Federal Government. These notes were backed by
livestock and the majority of this typeset issue, Series A, B and C,
were burned and replaced by the copper plate notes with vignettes.
Generally, these are rarely offered. This example, has much body to it.
Small body hole. For the issue, *Fine-Very Fine* is the proper
classification.

*Lot** #1971 - Estimate *$10,000-15,000
*UT. */Kirtland . /Reissue-Kirtland Safety Society Bank. (Rust 69).
Regular issued Kirtland $3 note printed by UBSH.Train coming over hill.
Medallion busts in each corner. Dated March 8, 1837 in Kirtland and
signed by */Joseph Smith, Jr/. *and Sidney Rigdon. The note was reissued
in Salt Lake City and countersigned on the face by *Brigham Young* and
Heber C. Kimball. Also, signed by N.K. Whitney and with the secret mark
of \"TB\" for Thomas Bullock. Embossed seal of the Twelve Apostles. Only
*23 *Reissued $3 notes were authorized and logged in the Church\'s
records. This serial number 4635 is listed in the Rust census. This note
is *stunning* and one of the *finest we have seen.* It is clearly
superior to the Ford VI lot by perhaps two grades. A boldly impressed
seal and vivid brightness. Light wrinkling, the note is nearly full
*Very Fine-Extremely Fine. *On eye appeal, it might be judged finer.
Likely not to need an upgrade. There may not be a true uncirculated note
of the reissued series due to the usage and circumstance.
The reissued notes were quite historic in that Young made \"them good as
gold\" as was promised back in Ohio by Joseph Smith. The Kirtland notes
raised much controversy in the 1830\'s era politics of Ohio and the
advance of the Mormon religion. However, there is no doubting the
significance of this paper money issue as one of the most famous in
American annals of finance through paper promissary loans.

*Lot** #1013 - Estimate *$1,500-3,000
*CT. */Hartford. /Hartford Bank. (CT-165 G72; G120; G160). Red stamped
on back: Property of American Bank Note Co. *Proof*. Uncut sheet of
three *$1-$2-$3. *$1.Two women supporting oval portrait of Washington
surmounted by eagle. Oval female portrait. Jenny Lind. $2. Sailor
reclining on coil of rope. Oval portrait of young lady distracted from
reading. Liberty, resting on a large 2. Red overprint outlined, white
center TWO. $3. Extra wide vignette covering entire bottom, and sides of
note. Replete with allegorical references to Industry, Navigation,
Education, and Agriculture, all flanking an anchor, and other trade
items *Choice Uncirculated.

Lot #1987 - Estimate *$3,000-6,000
*UT. */Salt Lake City//. /Bingham Canyon & Camp Floyd RR. *$10. *Jan.
15, 1874. (Rust Unlisted). Red protector and \"10\", green back with
maidens. Serial No. 18. Plate A. Train rounds bend. Indian warrior,
left. Athena standing, right. Payable at the Salt Lake City National
Bank. Not in the Mormon & Utah Coin and Currency book by Alvin Rust, nor
in the legendary John F. Ford Jr. Collection. An important *Rarity.* *Fine.

Lot #1979 - Estimate *$4,000-6,000
*UT. */Great Salt Lake// City//. /Deseret Currency Association. *$3.
*Oct. 1, 1858. (Rust 97). Blue paper. Rare Series B note. Man shearing
sheep flanked by cattle. Seated hunter peering through spyglass. Indian
with rifle and powderhorn. Large beehive underprint. Signed by H.
B.Clawson. Printed script signature of Brigham Young. Drawn by henry
Maiden and Engraved by D. McKenzie. *VF,* small notch out of upper left
corner.

*Lot** #1832 - Estimate *$2,500-4,000
*RI. */Providence//. /Globe Bank. *$50. *18__. (RI-305 G62a;
Durand-1379). *Proof* on India paper mounted on card. Navigation
reclining with book, globe and dividers. Bold full green overprint. ABN.
R-7. *Choice Uncirculated,* well centered.

*Lot** #1982 - Estimate *$1,500-3,000
*UT. */Salt Lake City//. /Walker Brothers. *$1. *January 1, 1863. (Rust
Unlisted, similar to 116-117). Overall pink underprint. Green back.
Walker Bros private bank building with flag flying off the top. Indian
princess. Payable in U.S. Treasury Notes. A rare issuer that acted as a
merchant and private bank. The operation was profitable and in 1885
converted to the Union National Bank of Salt Lake City. *VG,* minor fold
splits. Corner tip off.

Many of the notes presented in this auction have not appeared in sales
for decades, if at all. There is a good chance that they might not be
seen again for many more decades. In cases like this, pre auction
estimates are often exceeded, so we advise bidding in the higher end of
the range or well in excess of it.

Lots will be available for viewing at Spink Smythe's offices at 2 Rector
Street, in New York City, by appointment only. To arrange for an
appointment call Spink Smythe at 800-622-1880. For updates on this
auction check Spink Smythe's website at smytheonline.com. This auction
will also be conducted with eBay Live/LiveAuctioneers. A complete
catalog of all 1037 lots including photos and estimates can be viewed
online at: http://www.smytheonline.com . Select \"Current Auctions\" in
the left column.

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


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

Contact Details: 2 Rector Street, 12th Floor,
New York, NY 10006
webmaster@smytheonline.com