EARLY PENNSYLVANIA NOTE BRINGS RECORD $50,400 IN KAGIN’S AUCTIONS SALE

A number of rare Colonial banknotes featured in Kagin’s Auctions Part 2 of Highlights from the John J. Ford collection achieved record prices on September 25, 2023.

by Kagins | Published on October 1, 2023

Catalog Cover of the John J. Ford Colonial Currency Collection: Online Auctions

A number of rare Colonial banknotes featured in Kagin’s Auctions Part 2 of Highlights from the John J. Ford collection achieved record prices on September 25, 2023 including a Pennsylvania Jan. 17, 1723/24 20 Shilling note graded PCGS XF-40. The $50,400 price realized (including a 20% buyer’s premium) was almost three times what it brought in the Stacks auction sale of the John J. Ford, Jr. Collection in May, 2004.

That Pennsylvania note was followed by a 2 shillings September 15, 1729 PCGS-25 details (repairs) note bringing $31,200 after realizing $7,187.50 at the same Stacks sale.

A total of 216 notes from the colonies of New York through Virginia realized $550,494 (with the buyer’s premium), surpassing the pre-sale estimate and previous prices realized by almost 25%.

All 375 lots in both Part 1 and Part 2 of Highlights from the John J. Ford Collection were graded by PCGS Banknotes.

“We were amazed at the amount of bidding on these specialized notes,” proclaimed Dr. Donald Kagin, president of Kagin’s, Inc. “We expected a 2 ½ hour sale and it took five hours.”

Other records broken included $9,000 realized for a New York December 10, 1737 10-pound note which was one of 58 plate notes imaged in the Eric P. Newman reference work, The Early Paper Money of America offered in both Part 1 (sold on May 20^th, 2023) and Part 2.

Another was the always-in-demand note from Vermont. This February, 1781 40 Shillings note graded PCGS VF-35 with multiple repairs, which had previously sold for $11,500, realized $17,400 after spirited bidding.

“We are certainly pleased with most of the prices realized, including some notes bringing four to even five times estimate.” Kagin continued. “But there were bargains too. Some of these early notes were repaired after considerable circulation over two centuries ago, and were acquired for just half of what they sold for at the peak of the market in 2004. There were some good deals for anyone doing their homework.”

A complete listing of prices realized from both Part 1 and 2 of the Ford Colonial Highlights sale are available on-line at www.Kagins.com/auctions.