Recent Additions and News:
5/1/2013 A few words about the recent GNA (Georgia Numismatic Association) show held in Dalton, GA held April 18 thru April 20. This show has nearly doubled in size since I began to do it years ago. There was formerly a 5 to 7 year waiting list to get a table here. Not so now; and I must say it is a good thing. Several hundred dealers now ply their coins and paper money here. If you have the opportunity to attend; do so, as you will not regret it. The most important scenario I see playing out is the continued lack of material. I met a few folks before the show and bought a couple of rather large obsolete collections; although those notes never made it home with me. I am totally amazed at the lack of fresh or scarce notes. For example; six or eight years ago, I most often had 5 to 10 CH CU CSA T-26's in stock. In comparison, I haven't seen a nice, clean extra fine in over a year! I do not mind paying higher prices for quality notes, although that is of no help when there are none available. Those who browse the internet would perhaps think there are plenty of quality notes available. Nothing could be further from the truth. What one sees on an online site is months and months of effort of a dealer in trying to acquire material worth presenting to collectors. I have taken the required time to work the floor of several large venues in the last year. Nice, problem free notes just are not available. If one does appear, I will have to pay double what I sold the last example for. And so it goes. As the old saying goes, "We ain't seen nothing yet"! If you are afraid to pull the trigger now on a note you are interested in; it will do nothing but cost you more money. I did manage to acquire a few rare obsoletes and a VF 30 T-3. These notes were not "bargains" at today's prices. I've been at this long enough to know that they will be "bargains". With the lack of quality material available, it is actually hard for a collector to go wrong with any purchase of an obsolete or Confederate note....no matter what the state of the economy is in.
12/16/2012 The first weekend of December saw the annual, massive Civil War show at Nashville (now Franklin). It is always an incredible experience to attend such an event; and this year proved to be no exception. Public attendance was down; which in my humble opinion, can in great part be attributed to 75 degree weather and the last chance to do "this or that around the house" before Winter comes" scenario. As many of us know; "Honey do" lists take a great deal of priority for those of us who wish to keep collecting and also "keep" our spouse. Smaller public attendance made no difference in my degree of sales. Confederate, Obsoletes and Southern States paper money remain "red hot". I do not say this as "fluff" or to influence anyone. I merely state a fact as seen from my perspective for the last 12 months. As usual; quality material was no where to be found by me. I did mange to acquire a few nice pieces; such as a lovely $10 Essay (CSA T-48). Quality notes flew out of my showcases and I have no clue as to how to replace them. Further; the increase in demand for notes in VF or better condition continues to increase. I refer to Confederate notes such as T-8, T-9, T-10, T-13, T-14, T-16, T-25, T-26 etc. This tells me that the average collector is back, as such notes used to remain in the show cases with no desire on my part to acquire any additional pieces. Not so now. Any clean, problem free Confederate or Obsolete note will sell at a fair price. The show also provided the opportunity to see old friends and many of my regular clients. Several made the journey from a great distance and I met them face to face for the very first time. That is the "icing on the cake" for me. Next up is the vast FUN show in Orlando. I have attended this show for many years; however shared three tables with an individual and those tables were in his name. This year, I will be relegated to the back of this vast arena at table 1140. I encourage all who can to attend this massive show and allow at least two days to even see the whole thing. Hopefully; I will have some fresh, fantastic new material to offer. I will not go into detail here; although the odds are high that I will have notes that we all dream of owning.
09/13/2012 A Few words on the Market. Commencing with the March Tennessee State Show in Chattanooga, the Georgia State Show in April; Memphis in June and Blue Ridge in August; I can without reservation say that the average, limited means, collector is back! During the last 5 to 7 years, rare $40,000 to $60,000 notes have been easy to sell. They always are. However, material priced in the $200-$400 range has been stagnant for a good many years. At each of the aforementioned shows I had tables and was literally blown away by the demand for this type of material. It is indeed a welcome sight. Not just to the dealer, but to the hobby as a whole. For too long, only those of means have been able to collect these wonderful notes and now; the back bone of the collecting fraternity is back and back with a vengeance.
In most cases when I attend a show; once my inventory comes out, I am toast as far as looking around the bourse floor. It is impossible to get away from your table, as folks are four to five deep. However; during the last two shows which I have had tables, I made it a point to get out and look around. My inventory is running low, as is everyone else's. What I saw amazed me. I looked through several major dealers stock and was appalled by the lack of any quality notes. Whether it be CSA, Southern States or Obsolete bank notes; there was nothing to be had. Problem notes, very, very common notes and far over priced notes were the rule. I am not saying that my inventory is any better than other dealers. What I am saying is that this material is drying up. 40 years ago it was easy to think that this type of material would be available forever. However; with the huge increase in the number of collectors, the law of supply and demand is more relevant than I've ever seen it. I'm talking about common notes; not rare ones. I thought I would look for a Choice CU T-8. This is a CSA note which was always around and which I usually had 8 to 10 of at any given time. Out of the hundreds and hundreds of notes I looked at; including probably 100 T-8's, there was not one that was CU...much less choice CU.
Those folks who have better notes are not selling them. Who is to blame them? I know I would certainly rather have money in a nice, clean obsolete or CSA bank note than have it sitting in the bank making nothing for me.
In closing, we will soon see the day of the $300 to $400 nice obsolete bank notes disappear. This is no "guess". I deal with this each and every day. There are not enough of these notes to go around. I have to pay more now to replace a note I just sold. This reminds me of the early 1990's Confederate arena. Take heed my friends and listen.
6/19-6/24/2012- I have plenty of news to post as the market is better than I have seen it in years.
4/6/11. While I have not posted any new news here for quite a long time, I can provide a very knowledgable report on just what it going in with the Confederate, Obsolete and Southern States market. Since I have left any news here, I have traveled the breath of this great nation, attending various coin/paper money shows, viewing collections, etc. One thing remains a constant. Nice material is almost never offered....anywhere. When it is, one can expect to pay two to four times what a given piece brought 2 years ago. Program buyers are in scooping up common material. Federal note dealers are realizing how undervalued this material is and jumping in by the dozens. Another contributing factor is that those with good pieces would rather have the note than the money. They will make more holding the note than they can on the money they receive for it. All of these factors; along with a few others, make it very difficult for a dealer to acquire notes at a reasonable price, which in turn makes it tougher on the collector. Any nice obsolete with color is gone the minute you get it. The very rare obsoletes are bringing multiples of what one would expect to pay. For example, I needed a particular obsolete note last week which last year would have brought around $3500. $4,000 would have easily bought it - along with some strange stares in your direction (are you crazy?). I had to have the note and wound up paying $9,200 for a note which I could have bought last year for less than half of that. My point is this; if you want nice material and you see something you like; you had best pull the trigger. If you don't, you can bet someone else will. I am not just referring to this web site. I am talking about anywhere. We tend to take for granted that this material will be around forever; which pre-supposes an unlimited supply. At this point it time, there are many, many new faces collecting, investing or whatever that were not there a year ago. I've flown across the country to buy at auction, only to see what I thought were insane prices realized. I have adjusted my thought process accordingly. I have never been one to back away from a rare note because of it's price. However; with current prices for quality material, I have been reluctant to buy. Each time I have "paid too much" for a quality, rare note; it has sold within a week. Consequently, I will no longer hesitate to pull the trigger with the thought of "last years" prices in my mind. If you want quality and rarity, don't be afraid to pay for it...I won't be. What we think are high prices today, will be next years bargains. Remember, I am referring to quality or rarity; not generic notes that are available by the hundreds.
Just a few ramblings for you to consider.
April 16-18, 2010 - Georgia Numismatic Association Show-Northwest Georgia Trade & Convention Center, Dalton, GA. This show was enlarged due to continued requests from dealers for space at this event. The show had plenty of dealers; although for the most part; the same tired inventory. There were some surprises and I did manage to pick up a few notes from the floor and the public. Compared to 10 years ago, not as good. Compared to what has been going on the last two to three years, very good. Very well run with a superb group of people in charge. These folks work hard and are most accommodating. A very professionally maintained show at a superb venue. I'll sure be back!
March 18 -21, 2010 - 16th Annual Chicago Paper Money Expo, Crowne Plaza Hotel- Chicago O'Hare, Rosemont, IL. A change of tables for me apparently did the trick at this smaller venue. I could have sold every rare note I had. The time is now for those wishing to get into Confederate and Obsolete currency. More and more people are realizing the limited supply verses the strong demand. Once that small supply is less than the demand; look out! We are just at that point now. What is usually a slower show for me, turned into a total surprise. A good one at that. I look forward to this venue next year.
March 5-7, 2010 - Tennessee State Numismatic Association Spring Show, Camp Jordan Arena, Chattanooga, TN. This show illustrated my belief that interest in Confederate Notes are on the the upswing. Again, I sold several "heavy hitter" Confederate notes here. I have also noticed a large increase in the number of new collectors. I helped several in attendance build an 1864 set. Many of these folks will continue into the rest of CSA and become solid collectors. This show is very well run, with outstanding security. This was by far the best Chattanooga show I've ever had; and that says a lot. However, the same problem continues to plague me and other dealers of this material. That problem is that there is no new material entering the market. I would jump on the opportunity to acquire new, fresh, quality notes. A superb show.
February 6-7, 2010 - Chickamauga National Civil War Show, Northwest Georgia Trade and Convention Center, Dalton, GA. Usually one of the best shows on the circuit, this years show was somewhat slow. Public attendance was down and there were absolutely no buying opportunities. I did meet expenses and manage to make some money; although, believe it or not, this is not the main reason I attend these events. There is great satisfaction in seeing old friends and collectors everywhere you go. To place a note with a good friend and collector and see the glee in their eyes is what this is all about to me. I am noticing a solid turn around in CSA. During many of the past shows, my Confederate inventory was only looked at by a few, whereas my obsolete inventory was continually looked at. I am seeing a definite shift back towards Confederate. While Obsoletes remain a great bargain at today's price levels, the buying opportunities within the CSA market abound. Many are seeing this. A good show which used to be better. I say that with the caveat that I most assuredly see a strong increase in demand for Confederate Treasury notes.
January 7-10, 2010 - Florida United Numismatics (FUN) Show, Orange County Convention Center, Orlando, FL. This show needs no commentary. It is the largest coin and paper money show in the world. From the time I arrived until the time I headed for the Orlando airport; it was controlled chaos. Sales were great for nice material. Obsoletes were especially strong including the rare notes. Obsoletes with color are moving at an alarming rate and just cannot be replaced at what you sell them for. In several cases, they cannot be replaced at all. Many are beginning to understand the fact that there is a limited supply of these notes. While many won't "belly up to the bar" and pay good money for a good note; I sure will. I sold countless obsoletes, mainly those with color and printed by the American Bank Note Company. If I were a young man, I would be buying every one of these in sight right now. A great show, as always. The next 2 shows will be moved to Tampa, FL as the Convention center could not accommodate the show for the next two years. This is interesting..seeing as how the Convention Center at Orlando is over a mile long. Don't miss this show if you can attend. A great show.
December 4-6, 2009-Nashville Civil War Show, Tennessee State Fairgrounds, Nashville, TN.
This show has always been one of the very best I do and this year was no exception. If you have never been to the largest Civil War show in the world; you need to attend this event. For as long as I can remember, this show had been held at the old fairgrounds in Nashville. In 2010, it will move to Franklin. Irregardless, I was fortunate enough to acquire another complete type set. The Montgomery's included a T-2 signed by C.T. Jones and is only the sixth known. Only two of these are in collectors hands; as the remaining notes are held in museums.
Needless to say; this set went as quickly as the other, with all nine Montgomery's from both sets being sold within 30 days. This tells me what I already knew. Quality and rarity fly off your table. Random, common notes will only move if the price is low, and I do mean low. Public attendance was excellent and most every paper money dealer I know was present. A great time was had by all. As long as I am physically able, I won't miss this one.
November, 2009. I was fortunate enough to acquire a near complete type set which included two T-1's, the rest of the Monty's and some other just superb notes. Examples are T-29 in XF condition, T-3 in CU; and many, many more. I did not keep these notes more than two weeks. All Montgomery notes were sold within a week, as were the other superb rarities.
November 2009 - Tennessee State Numismatic Association Show, Camp Jordan Arena, Chattanooga, TN. A relatively large show, and one which continues to be a good one. There was little in the way of new material here; although I did manage to acquire a few new notes. Surprisingly, I sold some very expensive notes in Chattanooga. This type of thing usually occurs at the National shows or on the internet. A very decent show, considering this economy.
October, 2009 - South Carolina Numismatic Association Show, 1 Exposition Drive, Greenville, SC. Again, a different venue for this event. This fairly small show is one of the best in the South. I have never failed to have a good show here and also acquire some new material. This year was no exception and sales were simply outstanding. I acquired some fresh Confederate and Obsolete notes. In this day and time, I would much rather buy quality notes than sell. If you ever have a chance to attend this show, I highly recommend it. It is small enough to enable one to spend time with their favorite dealers and get to know them better. You do not have the hectic pace of Memphis or FUN. A great show.
October, 2009 - PCDA (Professional Currency Dealers Association) Annual Show, St. Louis; St. Charles Convention Center St. Charles, MO. This show turned out to be a great show as far as sales. It is not hard to sell good material...the main problem is locating it. Public attendance was much better than expected. This was a new venue for this show; having previously been held in St. Louis. The large coin show downstairs helped and it was a very successful show. I did manage to acquire a good group of obsoletes; however these did not last long and were literally devoured. A good show and very much worth of attending.
September, 2009 - Long Beach Coin, Stamp, & Collectibles Show, Long Beach Convention Center, Hall "A". Long Beach, CA. I did not take a table at this event, although did stay for two days and work the floor and attend the auction. There was near nothing to buy on the floor or at auction. I will have to give serious thought as to whether it is economically practical to continue to attend this West coast event. Little in the way of Southern Sates, Confederate Treasury Notes and obsolete notes find their way to California. Again, this is not unusual in this day and time. It is tough; especially when you think about the "good old times" when the material I offer was relatively plentiful.
August, 2009 - Blue Ridge Numismatic Convention, Northwest Georgia Trade & Convention Center, Dalton, GA. What was formerly a show that the public could barely get down the aisle due to huge attendance has turned into a show with mediocre public interest. Don't get me wrong, this show just misses being a National event and is quite large. Dealers from all across the USA are set up there. Given the internet; the increase in the number of shows; expansion of existing shows; live internet auctions and the overall lack of fresh material; this is understandable. I am certainly glad I set up, as it was more than worth it sales wise; however paled in comparison to previous Blue Ridge events. The continuing problem of a lack of material on the floor and that brought in for sale by the public continues.
8/12/09 Those of you who have looked at the obsolete section have not noticed any activity there in a long time. With the increase in my staff; that will soon change. Look for a very large number of Obsoletes to be added in the coming weeks and months. These notes are undervalued, represent the engravers art at it's finest and are a great way to collect. One cannot expect the grade levels to be above F/VF with regard to many issues. Many are printed by the American Bank Note Company and are absolutely stunning. It is in this area that many feel like they get much more "bang for their buck". I could hardly disagree with this. Most obsoletes are absolute works of art and have been under appreciate for a long time. This has changed somewhat, but most Obsolete bank notes may be bought for a fraction of what their value will be....in short order. All of these notes will be scanned at 300 DPI; which means that you will be able to see a note far and away better than the human eye can view it. Every minute detail will be visible. I look forward to providing a large selection of these for you to enjoy.
6/24/09 Memphis International Paper Money Show. As always, the top venue of the year for paper money. Sales were outstanding. I was fortunate enough to acquire a good amount of Confederate notes along with a very large group of Obsoletes. Things weer constantly busy at my table and I managed to eat lunch around 3:30 or 4:00 each day. As I have said many time before, if you only attend one show a year; make it this one. The big news is that Lyn Knight has purchased the show and will be in charge from this point forward. The Memphis Coin Club has; through downright hard work, built this show into the greatest paper money show in the world. Given Lyn Knight's experience and knowledge in these affairs; all dealers I know see no reason that Memphis will not remain at the "top" as it always has.
11/10/08 I plan on adding more CSA as time permits. I have added a few notes in the last few days. I plan on wiping the obsolete section clean and begin building a listing of the huge inventory I have. I will need to cut down on the description and just add the link to the scan to get more notes listed. At times; I just can't help myself in describing these wonderful pieces of history.
October 31-November 2, 2008 - Tennessee State Numismatic Association Show, Camp Jordan Arena, Chattanooga, TN. One of two annual Tennessee State shows. A larger show than Greenville, SC with good public attendance. Dealers from Florida, NY, AL. TN. NC, GA, IL, IN and a few more comprise the bourse floor. I sold several extremely rare Southern States notes and a good deal of Confederate. Public attendance was down from previous shows I have done in Chattanooga; although those who came to the show did not leave empty handed. The buzz among the coin folks about the spread of actual silver and the spot price was interesting. It seemed that little of the actual product was available on the floor. Those who had silver sold it like hot cakes. With the previous day closing of silver at $9.70 spot; 100 oz Engelhard silver bars flew off one dealers table at the sum of $1600. This is $6.00+ over spot. It seemed the public wanted it, no matter what the cost. Again, I managed to acquire a superb group of about 25 choice obsoletes and some CSA. The trend towards red colored obsoletes with great eye appeal is spreading...and I can see why. These are a tremendous buy at today's prices and where one would be safe in saying "you ain't seen noting yet". A very good show.
October 24-26, 2008 - South Carolina Numismatic Association Show, 1 Exposition Drive, Greenville, SC. Wow! What a show. The slow trend of the preceding Memphis, Blue Ridge and St. Louis show was certainly reversed at this great show. This is a first class event put on by first class people. Public attendance was quite strong and sales were brisk. It did seem that after 3:00 PM the crowd subsided. However, those in attendance were looking for everything from CSA, Southern States to Obsoletes. Again, a great show and a strong reversal of the lack of confidence many have in the paper money market. Buying opportunities were fair and I did acquire some choice obsolete notes along with a few very rare Southern States notes. A superb show from every respect.
October 16-18, 2008 - PCDA (Professional Currency Dealers Association) Annual Show, St. Louis; St. Charles Convention Center St. Charles, MO. A small show and sponsored by the PCDA. This show is considered by dealers in attendance to be a "wholesale" show; wherein other dealers acquire inventory from each other. Basically, this show was a bust. All in attendance agreed. It seemed that those dealers in attendance had enough inventory to suit them and were not desirous of obtaining new material. I shared a table with long time and very knowledgeable dealer Greg Ton. Greg and I had a great time. With Hugh Shull right behind us, there was never a dull moment for us! While other folks were not buying; I saw this as an opportunity to acquire new notes; and gladly did so. Some Great CSA along with superb and rare Southern States. While the show was slow, I had a great time and did manage to leave with some money in my pocket; although most importantly, I bought some great notes.
September, 2008 - Long Beach Coin, Stamp, & Collectibles Show, Long Beach Convention Center, Hall "A". Long Beach, CA. I changed my mind at the last minute and decided to just cruise the bourse floor at this large venue. Locating quality Confederate and Obsolete notes in California is not the easiest thing to do, although I managed to acquire enough to make my trip out West worthwhile. I did take some material with me and sold each and every piece I took. A large show and a great location to sell high dollar material.
August, 2008 - Blue Ridge Numismatic Convention, Northwest Georgia Trade and Convention Center, Dalton, GA. A wonderful venue with all of the major paper money dealers in attendance. Again, the public attendance was down. While sales maintained previous years levels; it seems as though only collectors known to do shows were present. I, along with a great number of other dealers and collectors have great confidence in the paper money market. While discretionary income may be down, there is certainly no lack of demand for quality paper money. Again, I was fortunate enough to acquire some very nice, fresh material. More often than not, I judge a show on the basis of how much I can buy, not how much I can sell. Selling is the easy part....acquiring new, quality notes is by far the toughest part. Based upon sales and new acquisitions, this show was indeed a successful one.
June, 2008 - 31st International Memphis Paper Money Show, Cook County Convention Center-East Hall, Memphis, TN . My first show after back surgery. For Memphis, the Daddy Rabbit of all paper money shows; public attendance was down. Those who came, came to buy and my sales were not off from previous shows. Given the economic situation, I am not surprised the crowd was down. Auction results were quite strong, with the demand for nice obsolete and Southern States notes on the rise...especially "flashy" red obsoletes. I sold a large number of Confederate bonds, especially those issued in the Trans-Mississippi Department. Great friends, great food and an overall good show. It was good to be "back in the saddle" after back surgery. I did manage to acquire some very nice Confederate and a good quantity of Obsolete notes. Although this web site is woefully lacking in listed obsoletes; i have hundreds of them in inventory. Memphis is Memphis and if you can only do one paper money show a year; this is the show to do.
March 27-30, 2008 - 14th Annual Chicago Paper Money Expo, Crowne Plaza- Chicago O'Hare, Rosemont, IL *Unable to attend. Recovering from Back Surgery
March 7-9, 2008 - Tennessee State Numismatic Show, Camp Jordan arena, Chattanooga, TN. *Unable to attend. Recovering from Back Surgery
February 14-16, 2008 - Long Beach Coin, Stamp & Collectibles Expo., Long Beach
Convention Center, Hall A, Long Beach, CA *Unable to attend. Back Surgery.
2/10/08- February 1-3, 2008 - Chickamauga National Civil War Show, Northwest Georgia Trade and Convention Center, Dalton, GA. Another superb show in terms of sales and seeing god friends. The show is very easy to locate in Dalton, being just off the interstate. I have a great location at this event, with tables just as you come in the door. Those in attendance were very enthusiastic and eager to see anything fresh. If it was fresh to the market, it sold. I am seeing a major swing towards obsolete and Southern States Currency. Confederate is still strong, although the former is definitely picking up steam. I can readily see that nice, problem free obsoletes with red and green color are very much under priced. If I were years younger, I would be buying every one of these I could find and putting them back. I predict a major swing in that market. My back situation is reaching critical mass and it appears I have no option but to undergo surgery....something I definitely do not want to do. Overall, a great show...as usual.
1/17/08 - January 8-12, 2008 Florida United Numismatics (FUN) Show, Orange County Convention Center, Orlando, FL . What can be said about the largest coin/paper money show in the U.S. ? This show is a monster and one could take days looking around the bourse floor. Sales were terrific and buying was difficult, as I was just not able to get away from my table. I was fortunate enough to make several collectors happy with two Montgomery CSA issues, an incredible T-27 and Indian Princess. Other sales were brisk as well, including Southern States and Obsoletes. My main objective now is to begin the frustrating attempt to replace those notes sold. This becomes much, much more difficult with every passing year. Old back problems began to resurface at this show and given the shear size of the convention center plus standing on a concrete floor 14 hours a day did not help. Otherwise, sales exceeded expectations...if I could only just replace some of the treasures I sold.
12/15/07- -Nashville Civil War Show, Tennessee State Fairgrounds, Nashville, TN. December 1-2. As always, this show lives up to it's expectations. Simply an incredible show with throngs of people in attendance. If you have ever considered going to a Civil War show, this is the one. By far, the largest in the world with over 1,100 tables in five buildings. Every major dealer of CSA and obsolete currency attends this one,so there is plenty to see. I love the atmosphere of Civil War shows as compared to Coin/Papery money shows. There is just something about being surrounded by Civil War Colts, swords, artillery shells, uniforms; the whole works. Again, I was unable to get away from my table to acquire any new material. Sales were amazing which is the norm for this show. Many good friends from across the country were there and it was great to see everyone. I highly recommend this one!
9/11/07 Blue Ridge Numismatic Association Show, August 23-26 Dalton, GA. Another "robust" show in terms of sales. While I do not wish to run the risk of "sounding like a broken record" in repeating myself; this show was further indicative of the very healthy state of affairs with regard to the paper money market. The Blue Ridge show is one of the larger shows in the country and I highly recommend it if you are desirous of attending a quality coin/paper money event. I placed an immaculate "B" plate T-11; high grade T-47 (essay) and a choice T-33 to name only a few. Once again, I am left with the knowledge that these notes will be difficult; if not impossible, to replace. For the first time in ages, I was fortunate enough to acquire a large number of notes for want lists and general inventory. These notes consisted of several hundred obsoletes and Confederate pieces, including some very high end examples. I attend paper money shows for two obvious reasons. One reason is to sell and the other is to buy. Rarely am I successful in the later category; however, this years Blue Ridge event proved to be an exception. In order to acquire this quantity of material, I paid what many would consider to be too much money. Nonetheless, I am of the philosophy that if you don't pay what it takes to acquire quality notes, someone else will. I see no end in sight to the continued price escalation in Confederate, Southern States and Obsolete Bank notes. A great show.
8/6/07 Memphis International Paper Money Show, July 5-8 Memphis, TN. All I can say about this show is WOW! If you have never attended this paper money show, you should really consider going. Bar none; Memphis is the best show there is. I broke all records for sales at this show and find myself in the desperate position of needing new material. Record sales were achieved without the sale of any note above the price of $7,000. Most of the material I sold was in the $200-$400 price range; which indicates a very widespread interest across the board. For those of you who like the $100 Confederate notes of 1862 (T-39, T-40 & T-41), sales here were outstanding. Military issues, tough watermarks, interest paid locations and dates of issue were red hot. This is a fascinating series to collect, whereby the numbers of those collecting them has increased (justifiably so) dramatically. Long gone are the days that what appeared on the reverse of one of these interest bearing notes made absolutely no difference. In those days, A CU T-41 was $25 Maximum and it's location of issue made no difference. In fact, I can remember when original packs of 100 consecutive T-41's were $125 a pack. Sure do need a time machine! Irregardless, this was an outstanding show and further confirms my belief that the collecting of CSA, Obsolete and other such issues is still in it;
's infancy and has a long way to go. A new group of publications is helping; with authors like Hugh Shull, George Tremmel, Mack Martin, Dave Bowers, Austin Sheheen Jr., Mike McNeil & Wendell Wolka to name only a few. If you are like me; you can not read enough about this material, consequentially, the more that is published, the more interest is increased or created. To sum it up....if you can; don't miss Memphis.
April-July, 2007. Worked the floor of several shows, including Central States, June Long Beach, CA and several others. Quality material is simply drying up ! Along the way, I have been delighted to place several of the CSA "Big 6" (T-1, T-2, T-3, T-4, T-27 & T-35) with collectors. In addition, have continued to service want lists and "beat" the pavement for fresh material. It is tough and getting tougher.
4/19/07 R.M. Smythe Auction, April 11-13 New York, NY. I have attended many of the Smythe auctions held in New York City and report on this one simply to state my opinion of the current market. This auction presented many rare CSA, State and Obsolete notes; along with other important Confederate fiscal documents. Included were a complete set of CSA Montgomery issues, one of which was an exceptionally rare Type 2 (1861 $500 CSA) signed by C.T. Jones as Register. Of the 607 T-2's printed; only the last 24 were signed by Jones, as Alex Clitherall signed the other 583 at Montgomery. Clitherall was not inclined to make the move to Richmond when it was decided that the Capitol of the Confederacy would be located there; consequently Jones signed the remainder. With the appearance of this note, the number of T-2's signed by Jones rose to a "whopping" 5 known. While I was the under bidder on this note and did not acquire it; I did manage to obtain some other significant rarities. Prices realized on rare or very colorful obsoletes from the famous Schingothe collection were astronomical ! Most of these notes went for at least two times estimate and many sold for 10-12 times their estimated value. What does this mean? It means that quality and rarity never go out of style. Many times we are faced with the dilemma of a note being priced to high. If it is a piece you want, and is of high quality and without problems, you had best acquire it. It has been my experience over the years that today's "high priced" notes are next years great bargains. A great auction.
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