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V12 2009 INDEX       E-SYLUM ARCHIVE

The E-Sylum: Volume 12, Number 22, May 31, 2009, Article 18

OSSINING, NEW YORK NATIONAL BANK NOTE SHEETS FOUND

Most of the "rare" items found in dresser drawers by hopeful citizens turn out to be quite common in coin collecting circles. But every now and then something truly scarce and valuable does show up. Here's an article about a recently discovered group of National Currency notes. -Editor
Ossining National Bank note sheets Phil Chadeayne has always lived surrounded by old things, and that's the way he likes it.

"The last thing I want is some plywood McMansion mansion," he says, "I like that old stuff, and there's a connection there."

Sure, he fixes computers for a living, but he also scours specialty stores for parts to keep the 1930s-era plumbing in his Pleasantville home in working order. Old family portraits look down on him in his living room, and Chadeayne can rattle off historical anecdotes about his ancestors and the family name that came to these shores back in the late 1600s with the arrival of the French Huguenots, settlers fleeing religious persecution in the old country. Chadeayne Road in Yorktown, near the IBM facility, was named after the old family homestead.

It's a good thing for Chadeayne that he hates to throw things out. Like an odd little tube that Chadeayne came across in a desk drawer recently. Ah, he thought, what's this? Two sheets of old banknotes in $5 and $20 denominations, uncut, stamped with the name of the Ossining bank where his father, Leander, an insurance salesman, served as a trustee. Might be worth something.

Actually, those old greenbacks from 1928 might be worth a lot.

Chadeayne did a double-take when a currency dealer told him those old bucks could fetch him in the range of $20,000 or so at auction. The treasure that emerged after decades in hiding turned out to be sought after by collectors.

"I didn't think they were worth much," Chadeayne said. "My mother gave them to me for a birthday, or something. It was wrapped up tightly with tin foil in a toilet-paper roll - my mother was creative that way. They were sitting around for years; I didn't pay much attention."

To read the complete article, see: Old currency to fetch top dollar at auction (http://www.lohud.com/article/2009905260332)



Wayne Homren, Editor

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