Eric P. Newman Currency Rarities on Offer at Heritage Auctions

Items being sold are from the extensive collection of Eric P. Newman’s Numismatic Education Society

DALLAS, Texas (April 6, 2017) – A 1775 Massachusetts Bay Colony 5 Pounds 4 Shillings Bond (est. $5,000-$10,000) leads nearly 1,500 pieces from the Eric P. Newman Collection Internet Part 3, which will be auctioned at no reserve in Heritage Auctions’ Internet Currency Auction, Wednesday, May 3. Newman, the premier American numismatic researcher and writer, curated a collection of coins and currency unmatched in quality or depth.

The 1775 Massachusetts Bay Colony 5 Pounds 4 Shillings Bond loans were used to finance the Continental Army in the first years of the American Revolution and printed from a copper plate engraved by Paul Revere. Sharp details indicate this example was among the first printings. PCGS grades the piece Very Fine 20.

Uncut items are a popular subset of currency collecting, and the Newman Collection contains several rarities. A Perforated Block of Eight First Issue Fr.1229 5-Cent Notes (est. $3,000-$6,000) will be offered to collectors for the first time. No-monogram 5-cent notes are exceptionally rare, and Heritage has offered a block of eight just once before. The notes are graded PCGS Choice 58PPQ and exhibit only minuscule handling wear. A Confederate Sheet of 10 T20 $20 Notes (est. $2,500-$5,000) is sure to attract collectors as well. PCGS grades the sheet Extremely Fine 45, superior to a majority of similar Confederate sheets sold recently.

Heritage Auctions is also offering a rarity from one of the most popular territorial series. An 1830 Territory of Florida $1 Note (est. $2,500-$5,000) should attract collectors with its low serial number and high grade. At PCGS Very Fine 35, it is among the finest of its type. Less than 40 Florida Territory $1 notes are known to survive. Another $1 note is highlighted in the sale, an 1850 $1 Note, Issued by the Phenix Bank in New York (est. $1,000-$20,000), will be on offer. The ornate note shows sharp detail and is graded Very Fine 35 by PCGS.

Rounding out the featured lots is a somewhat mysterious note. An Undated Steamer J.A. Cotten 25 Cents Note (est. $1,000-$2,000) is worthy of exhaustive research. In addition to “Steamer J.A. COTTEN” text and the denomination, the small note contains a pair of steamboat vignettes and the obligation “Due by Narcisse Paris, Redeemable in Three Dollars.” Logic suggests the note is in relation to the Confederate steamer J.A. Cotton, which was sunk by Union forces on April 14, 1863. However, its association with the ship is currently unconfirmed. Online proxy bidding opens on the auction’s nearly 1,500 lots April 5 at HA.com/241626, with the auction starting at 10 a.m. Central Time May 3 on HA.com.

Items being sold are from the extensive collection of the Eric P. Newman Numismatic Education Society (a Missouri not-for-profit corporation) and have been assembled over a period of 90 years. Proceeds of the sale of all items will be used exclusively for supplementing the Society’s museum operations and scholarly numismatic research efforts and for the benefit of other not-for-profit institutions selected by Eric P. Newman Numismatic Education Society for public purposes. Heritage Auctions is the largest fine art and collectibles auction house founded in the United States, and the world’s largest collectibles auctioneer. Heritage maintains offices in New York, Dallas, Beverly Hills, San Francisco, Chicago, Palm Beach, Paris, Geneva, Amsterdam and Hong Kong. The Internet’s most popular auction-house website, HA.com, has over one million registered bidder-members, and searchable free archives of four million past auction records with prices realized, descriptions and enlargeable photos. Reproduction rights routinely granted to media for photo credit. For breaking stories follow us: HA.com/Facebook and HA.com/Twitter. Link to this release or view prior press releases.