Auction of Rare U.S. Obsolete Banknotes from the 1820 to 1830’s Salvaged Moments before Being Destroyed

Historic Auction of a newly discovered 170 to 200 year old U.S. Obsolete Banknotes, “The Silver City Collection”, consisting of 165 rare archival proofs in New York City, May 13th, 2011 by Archives International Auctions. 

Also included in the auction are 100 rare and desirable U.S. Obsolete banknotes from the “Round Mountain Collection”, put together by an astute collector who had an amazing eye toward rarity and beauty and which has never been offered previously by any major auction firm.

 

NEW YORK--(BUSINESS WIRE)--Archives International to auction extremely rare and in a number of cases unique U.S. Obsolete banknotes that were not known to exist a little over two years ago. This incredible group of notes was discovered by accident and literally salvaged moments before being discarded as common trash. The consignor had no idea of the value, rarity or significance of this find until only recently.
Dr. Robert Schwartz, president of Archives International Auctions, states, “This amazing collection of notes represent a snap shot of a time in our countries economic history when regional economies and businesses revolved around their local banks for financial needs and the federal government had minimal influence in local financial affairs. This led to hundreds of local banks, sometimes called “Wildcat” banks to start up quickly and go out of business just as quickly and then the left over unredeemed banknotes were called “Broken Banknotes” of Obsolete Banknotes.”

Some of the many highlights include:

• An uncut sheet of 3 Proof Banknotes, $3000-$5000-$10,000 denominations from the Phenix Bank in New York City
• An extremely rare 1837, $100 United States Interest Bearing Banknote proof
• A $5000 Denomination proof note from the Merchants Bank of New York
• A California and Salt Lake Mail Line Obsolete banknote with Racing Stage Coach Vignette
• Over 500 Worldwide banknote rarities and additional U.S. Coins to be offered

There are 265 lots in the auction. Almost every note in the auction is either new to the collecting community or has never been offered in a major auction previously.

For more information and to view the Silver City Catalog, visit WWW.ARCHIVESINTERNATIONAL.COM. This is a live auction including a live gallery that can be attended in person as well as offering phone, Fax and internet bidding on Archives International Live.
The auction takes place Friday, May 13th, 2011 beginning at 10:00 AM EST at The 3 WEST CLUB located at 3 W. 51st Street (at Fifth Avenue) in New York City.

For a full range of Banknote Albums, Protective Sleeves and Currency Pages - Check out www.boscastlesupplies.com