Smythe Sale of Schingoethe Obsolete Currency Collection Sees Record Prices. The 2 Day Auction of Obsolete Currency Was Met With Heavy Bidding With 94% of the Listed Lots Sold
News-Antique.com - Dec 18,2007 - Manhattan, New York - December 18, 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
