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V23 2020 INDEX       E-SYLUM ARCHIVE

The E-Sylum: Volume 23, Number 43, October 25, 2020, Article 25

COLTRANE WAR OF 1812 TREASURY NOTES

Stu Levine, Bruce Hagen, and Maureen Levine submitted this preview of paper money lots in the upcoming Heritage sale of the Mike Coltrane Collection. Thanks! Amazing notes. -Editor

The Mike Coltrane Collection of War of 1812 Treasury Notes – Part 1

Mike Coltrane’s intense interest in history and American paper currency inspired him to form the most comprehensive collection of War of 1812 United States Treasury Notes ever assembled. There are two main classes of notes. First are those authorized by the acts of June 30, 1812, March 4, 1814, and December 26, 1814 (and $100 notes from the February 24, 1815, act). They were in a large size format and paid 5-2/5% interest for one year from its hand-dated time of issuance. The second class of notes was authorized by the final act of February 24, 1815. These were in a “small” size format with denominations from $3 to $100, similar in size and style to slightly earlier first Bank of the United States notes. These did not pay set interest or have a set term, but were redeemable later for 7% United States funded stock. They circulated in commerce when signed by three officials including the register of the treasury or an authorized, designated official such as a commissioner of United States loans or other official designee.

All War of 1812 Treasury Notes share two common elements. First, they were all engraved and printed by Murray, Draper, Fairman & Co. in Philadelphia. Second, with one exception, the $3 denomination, all notes portrayed Federal eagle vignettes which symbolized American strength and resolve from its founding onward. The only note type without an eagle vignette is also the only federally authorized “three dollar bill” which was in common usage by private banks at the time. The fully issued “triple-signature” $3 note offered in this sale (lot 25034) is the only example of its kind known and boasts an illustrious pedigree. This issued note is the model for the future Demand Notes emitted for financing the Civil War.

The first part of Mike’s extraordinary collection of War of 1812 rarities comprises 21 historic notes. All lots are currently on Heritage Auctions preview at HA.com/3575. The sale will be held in Dallas with Session 1 (floor) on November 4 and Session 2 (online only) on November 5. Lot viewing will be available by appointment only at Heritage’s Office in Dallas (October 26- November 4); contact Jose Berumen at JBerumen@ha.com or 214-409-1299. We invite you to join currency experts Dustin Johnston, Sarah Miller, and Bruce Hagen for an interactive Zoom video preview and discussion of the sale on Friday, October 30, 2020 at 12:00 P.M CT at
https://zoom.us/j/91822062913?pwd=RFlrS0E5WDQxWWd1NEhxMnU4V1dKUT09 .

1812 $100 Treasury Note

Act of June 30, 1812 $100 5-2/5% Treasury Note. Hessler X69A, Fr. TN-2. Unsigned Remainder. PMG About Uncirculated 55

Extremely rare first series interest bearing note. None are known issued and this is one of the finest. Lot 25014.

To read the complete lot description, see:
United States - Act of June 30, 1812 $100 5-2/5% Treasury Note. Hessler X69A, Fr. TN-2. Unsigned Remainder. (https://currency.ha.com/itm/war-of-1812/united-states-act-of-june-30-1812-100-5-2-5-treasury-note-hessler-x69a-fr-tn-2-unsigned-remainder-pmg-about-uncircul/a/3575-25014.s)

1814 $100 Treasury Note

Act of March 4, 1814 $100 5-2/5% Treasury Note. Hessler X74C, Fr. TN-6. Double- Signature Remainder. PMG Choice Extremely Fine 45

Arguably the most important War of 1812 series type. There are only three intact notes known. This is almost fully issued, and it is the Friedberg plate note. Lot 25016.

To read the complete lot description, see:
United States - Act of March 4, 1814 $100 5-2/5%Treasury Note. Hessler X74C, Fr. TN-6. Double-Signature Remainder. (https://currency.ha.com/itm/war-of-1812/united-states-act-of-march-4-1814-100-5-2-5-treasury-note-hessler-x74c-fr-tn-6-double-signature-remainder-pmg-choice/a/3575-25016.s)

1814 $20 Treasury Note

Act of December 26, 1814 $20 5-2/5% Treasury Note. Hessler X80A, Fr. TN-9p. Proof. PMG Choice Uncirculated 63

The first War of 1812 $20 treasury note. This is one of several important proofs from the collection. Its prestigious pedigree includes Joel Anderson and it is plated in two references. Lot 25017.

To read the complete lot description, see:
United States - Act of December 26, 1814 $20 5-2/5% Treasury Note. Hessler X80A, Fr. TN-9p. Proof. (https://currency.ha.com/itm/war-of-1812/united-states-act-of-december-26-1814-20-5-2-5-treasury-note-hessler-x80a-fr-tn-9p-proof-pmg-choice-uncirculated-63/a/3575-25017.s)

1815 $50 Treasury Note

Act of February 24, 1815 $50 Treasury Note. Hessler X83E, Fr. TN-11p. Proof. PMG Gem Uncirculated 65 EPQ

The Federal-style eagles engraved for the issue were highly crafted by Murray, Draper, Fairman & Co. This proof has been off the market since 2000 and is one of three known. Lot 25027.

To read the complete lot description, see:
United States - Act of February 24, 1815 $50 Treasury Note. Hessler X83E, Fr. TN-11p. Proof. (https://currency.ha.com/itm/war-of-1812/united-states-act-of-february-24-1815-50-treasury-note-hessler-x83e-fr-tn-11p-proof-pmg-gem-uncirculated-65-epq/a/3575-25027.s)

1815 $3 Treasury Note

United States - Act of February 24, 1815 $3 Treasury Note. Hessler X83A, Fr. TN-16b. Triple-Signature Fully Issued. PMG Very Fine 25.

This fully issued $3 note, signed by Joseph Nourse as register, is a landmark piece hailing back to F.C.C. Boyd’s collection. It was last auctioned 15 years ago. Lot 25034.

To read the complete lot description, see:
United States - Act of February 24, 1815 $3 Treasury Note. Hessler X83A, Fr. TN-16b. Triple-Signature Fully Issued. (https://currency.ha.com/itm/war-of-1812/united-states-act-of-february-24-1815-3-treasury-note-hessler-x83a-fr-tn-16b-triple-signature-fully-issued-pmg-very-f/a/3575-25034.s)

To read the earlier E-Sylum articles, see:
COLTRANE COLLECTION SELECTIONS PART 1 (https://www.coinbooks.org/v23/esylum_v23n41a22.html)
COLTRANE COLLECTION SELECTIONS: BACK DESIGNS (https://www.coinbooks.org/v23/esylum_v23n42a25.html)

Archives International Sale 62 cover front



Wayne Homren, Editor

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To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com

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