PMG-certified Vintage US Banknotes Featured in Mike Coltrane Collection Auction
Posted on 6/10/2021
Nineteen Treasury Notes from the War of 1812 era certified by Paper Money Guaranty® (PMG®) are being offered in a sale of hundreds of rarities from the renowned Mike Coltrane Collection. Bidding is already underway for the Heritage Auctions sale, which is being held June 24-25, 2021. Highlights from this and a previous sale can be viewed in an image gallery at PMGnotes.com/Coltrane.
The centerpiece of the sale is an 1815 $10 Treasury Note graded PMG 35 Choice Very Fine (lot 20015), with an estimate of at least $200,000. These notes were issued during and immediately after the War of 1812, which strained US finances before peace was achieved in 1815.
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| 1815 $10 Treasury Note graded PMG Choice Very Fine 35. Click images to enlarge. |
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Interestingly, this is one of only two fully issued 1815 notes known to be triple-signed. The other, a $3 example graded PMG 25 Very Fine, realized $168,000 in a Heritage sale in November 2020. Both notes are pedigreed to the Mike Coltrane Collection, which boasts some of the greatest rarities in American numismatics.
Another great rarity in the sale is an 1875 $20 National Gold Bank Note issued by The First National Gold Bank, Petaluma graded PMG 45 Choice Extremely Fine (lot 20190). It has an estimate of at least $150,000.
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| 1875 $20 The First National Gold Bank, Petaluma Note graded PMG Choice Extremely Fine 45 and pedigreed to the Mike Coltrane Collection. Click images to enlarge. |
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These notes were issued in the late 1800s by nine national gold banks in California, where gold coins were preferred for transactions. Most surviving National Gold Bank Notes are found in denominations of $5 or $10. This particular $20 is believed to be the highest-graded of several dozen known survivors from all of the national gold banks.
The Mike Coltrane Collection includes seven other National Gold Bank Notes, which can be viewed in the PMG image gallery at PMGnotes.com/Coltrane. The gallery also showcases his War of 1812 Treasury Notes and 1861 Demand Notes.
Other PMG-certified highlights from the Mike Coltrane Collection in this sale include:
- an 1864 $50 Interest Bearing Note graded PMG 20 Very Fine NET and also pedigreed to Anderson and Grinnel (lot 20087) with an estimate of $80,000 to $100,000
- an 1864 $100 Compound Interest Treasury Note graded PMG 20 Very Fine and also pedigreed as the Friedberg Plate Note (lot 20084) with an estimate of $60,000 to $90,000
- an 1863 $50 Legal Tender graded PMG 20 Very Fine (lot 20075) with an estimate of $40,000 to $60,000
- an 1861 $50 Interest Bearing Note Specimen graded PMG 58 Choice About Uncirculated (lot 20086) with an estimate of $30,000 to $50,000
- an 1873 $20 National Gold Bank Note issued by the First National Gold Bank, Santa Barbara graded PMG 8 Very Good (lot 20191) with an estimate of $30,000 to $50,000
- a Boston, Massachusetts $100 issued by The New England National Bank graded PMG 20 Very Fine (lot 20140) with an estimate of $30,000 to $50,000
- a 1918 $50 Federal Reserve Bank Note (St. Louis) graded PMG 45 Choice Extremely Fine (lot 20184) with an estimate of $30,000 to $50,000
- an 1890 $1 Treasury Note graded PMG 64 Choice Uncirculated EPQ (lot 20124) with an estimate of $25,000 to $35,000
- an 1886 $20 Silver Certificate graded PMG 35 Choice Very Fine (lot 20112) with an estimate of $25,000 to $35,000
- a 1812 $1,000 Treasury Note graded PMG 50 About Uncirculated EPQ (lot 20003) with an estimate of $25,000 to $35,000
- an 1861 $10 Demand Note (Cincinnati) graded PMG 20 Very Fine and also pedigreed to the Newman Collection (lot 20027) with an estimate of $25,000 to $35,000
- an 1880 $100 Legal Tender graded PMG 20 Very Fine (lot 20080) with an estimate of $25,000 to $35,000
All estimates are provided by the auction house.
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