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ERIC P. NEWMAN INTERNET 3 SALE RESULTSMaureen Levine and cataloguer Bruce Hagen submitted this article highlighting results of last week's Heritage Eric P. Newman Collection Internet Part 3 sale. Thanks.
-Editor
Last week’s Selections from the Eric P. Newman Collection Internet Part 3 currency auction drew strong competition, with over a third of the more than 1,000 participants having successful bids. This unrestricted Heritage Auctions sale realized nearly $500,000, and 100% of the lots were sold. Several four-figure items joined new cabinets. Lesser value, but specialized varieties and unusual notes recognized for their significance, brought surprising results. Eric’s lifelong study of the nuances of numismatic items, regardless of their commercial value, was once again demonstrated. A great diversity of genres, series, types, and price ranges were featured. The sale commenced with over 300 Colonial currency notes. North Carolina continues to be the most widely collected, and the series has many “sleeper” rarities. The ever-popular North Carolina April 2, 1776, vignetted notes performed strongly, with the low denomination notes in demand, even in lesser condition. Recognizing that Colonial contemporary counterfeits are generally more rare than their genuine counterparts, collectors bid accordingly. The specialized section of Early American fiscal loan and financial documents was very well received, with both unique and unpublished pieces as well as available types in choice condition often exceeding expectations. A broad range of over 900 Obsolete currency notes were included: Southern Civil War notes tied to military history brought the strongest prices of the genre; Midwestern Obsoletes, particularly early territorial and State of Illinois notes, were also actively pursued; and Choice grade, vignetted notes were also in great demand. The sale results and wide participation are evidence that currency collecting is very active. Some highlights from the sale are below Lot 89170: North Carolina April 2, 1776 $1/16 Vase of Flowers
 Extremely rare North Carolina April 2, 1776, $1/16 note
I had to do a little math to get my head around this odd denomination. This goes back to the early days of the U.S. dollar, when everyday commerce had been conducted for generations
in fractions of the Spanish dollar, which were often physically cut into eight bits to make change. The phrase "two bits" (meaning a quarter) lived into the mid 20th century (when do you
ever hear that today)? So one bit (one eighth of a dollar) is half a quarter or 12 1/2 cents. And half a bit is 6 1/4 cents or one-sixteenth of a dollar. Many pre-Civil War obsolete banknotes have
the denomination stated as 6 1/4 cents, but very few state it as one sixteenth of a dollar. Great note. -Editor
To read the complete lot description, see:
Lot 89390: 1780 New-York Treasury Loan Certificate
  Unreported New York six months June 5, 1780 small format loan certificate
The colonial era fiscal paper offered in the Newman sale is an important historical record of the financial system of the day. -Editor
To read the complete lot description, see:
Lot 89754: 1820 Exchange Bank of Illinois 37-1/2 Cents
 Unlisted Edwardsville Exchange Bank of Illinois
Still got your bit calculators out? Two bits (25 cents) plus one bit (12 1/2 cents) = three bits (37 1/2 cents). Another interesting and unusual denomination. -Editor
To read the complete lot description, see:
Lot 90067: 1863 French Point, MO, T. R. Livingston
 Vibrant Major Livingston French Point-Cadett rail road scrip
I've always had a soft spot for scrip notes payable in Confederate notes. Great history lesson here, too - there was support for the Confederacy in Missouri as well. As a border
state Missouri sent troops and supplies to both sides in the fight. -Editor
To read the complete lot description, see:
Lot 90255: 1816 Great-Bend Bridge 4 Cents
 Perhaps unique Great-Bend Bridge 4 cents
My bit calculator broke on this one. Four cents is just four cents (or one twenty-fifth of a dollar), I guess. Another good history lesson, this one on financing infrastructure.
-Editor
To read the complete lot description, see:
For complete, sortable, and printable results of the Newman Internet 3 sale, please visit www.ha.com/241626 .  Wayne Homren, Editor The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org. To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com To subscribe go to: https://my.binhost.com/lists/listinfo/esylum All Rights Reserved. NBS Home Page Contact the NBS webmaster 
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