Rare 1792 federal bond issued to and signed by George Washington soars to record $265,500 at auction A historic U.S. federal bond, issued to and signed by then-President George Washington in 1792, soared to $265,500 at Archives International Auctions' sale held October 19th and 22nd in N.Y. and N.J.
hands, for a respectable sell-through rate of 63 percent). Section highlights included a circa 1920 Victor Talking Machine Company specimen ($1,121); a Republic of China $1,000 issued bond ($796.50); a Republic of Haiti 1922 specimen bond ($737.50) and a Higgins Wonder Oil Company specimen ($2,478).
Michigan Mining certificates were well represented by a new estate stock certificate find. The highlights included an 1863 Dodge Mining Company certificate and an 1864 Isabella Silver Lead Mining company certificate, both of which fetched $3,540. Two other Michigan certificates also topped $3,000. Also, a Wells Fargo Mining Company certificate from 1880 rose to $2,596.
Railroads overall did well, with more than 60 percent of lots offered finding new owners. Two different Iowa Specimen certificates – a Boone County Railway Company and a Southern Iowa Railway – hammered for $747 and $885, respectively. Both were record prices for Iowa railroads. Additional railroad certificates knocked down for impressive prices during the session.
A historic circa 1850-1870 San Francisco city bond collection was broken down into five lots. All did exceptionally well, with the top earner (of 29 bonds) climbing to $1,829. Also, an 1818 Bank of the State of Mississippi breezed to $1,121, easily passing its high estimate of $500.
Worldwide banknotes totaled 225 lots sold, out of 346 offered (for a 65 percent sell-through). Star lots included a Chinese 1904 Hupeh Government Cash Bank issue ($3,599); a 1917 Banque de France essay proof, back by ABNC ($4,425); a Banque de L’Indochine 1,000 Piastres note from 1951 ($5,605, tying a record); and a 1952 Kingdom of Libya bank specimen ($3,835).
Mexico was very strong in selected issues. A previously unlisted 1890 Specimen Bono de Caja from El Banco de Veracruz fetched $5,015; a group of proof production notes from Poland made $619-$1,475 each; an unlisted Russian Treaty note from 1917 for 500,000 pounds (s/n #5) brought $2,360; and a no date issue specimen set from the UAE currency board sold for $7,965.
The historic ephemera and document category featured a fresh estate Wells Fargo collection assembled in the late 1890s. Highlights included a high condition, circa 1850s Wells Fargo & Company banking broadside from San Francisco ($3,068). U.S. banknotes included a New York, Astor Bank black and white obsolete banknote proof from around the 1850s ($826).
Other star U.S. lots included a Second Liberty Loan that was canceled and then reissued ($2,596); and a 1925 United States Adjusted Service certificate ($2,124); Fractional currency featured 1896 Educational Silver Certificate sets ($1, $2, $5) hitting $2,478, $4,425 and $4,425; and an 1880 Heath’s U.S. Treasury and National Banknote Detector in excellent shape ($1,652).
It was only the 16th auction for Archives International Auctions. In its six-year history, the company has become synonymous with quality auctions dedicated to U.S. and worldwide banknotes, scripophily and other numismatic ephemera. AIA was chosen to be the auctioneer for the third annual Wall Street Coin, Currency & Collectibles Show held Oct. 17-19 in Manhattan.
Archives International Auctions is always looking for quality U.S.