SOLD
3,700.00USDto r******c+ buyer's premium (647.50)
This item SOLD at 2013 Apr 24 @ 07:39UTC-07:00 : PDT/MST
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Preview
Holabird-Kagin Americana Office
3555 Airway Drive Suite#309
Reno, NV 89511
Thursday April 11, 10am-6pm
* Preview also available by appointment
Live Auction
Friday & Saturday
April 12-13, 2012
9am PDT starting time, both days
Location
Atlantis Casino & Resort
Grand Ballroom #4
3800 S. Virginia Street
Reno, NV 89502
Lot Pick Up
Holabird-Kagin Americana Office
3555 Airway Drive Suite #309
Reno, NV 89511
Sunday April 14th, 10am-1pm
Nyholm 38 Rust 20 This truly is a unique pair of items. First is a Bank of Monroe $2 note hand-signed by Oliver Cowdery. The note is dated Sept. 1, 1836 The Mormon Church announced the purchase of the bank on January 31st , 1837. The explanation of this is complex but is typical of the issuance of currency by many banks in the 1830’s. Cowdery’s signature appears on Monroe banknotes beginning in Sept. of 1836 through July of 1837. It has been reported that Oliver Cowdery was still residing in Kirtland Ohio as of January 1st of 1837. It has also been speculated that Cowdery may have been active with the bank prior to 1837 but this is doubtful. Research indicates that banks of the era issued their banknotes sometimes with as many as three different color inks validating the notes. Notes exist for Kirtland with the serial number written with one color of ink, the signatures written with a different ink or color, and the date issued with a third. Kirtland, Monroe and other period banks often experienced problems with the time it took to issue a large number of notes therefore many notes were serialized and/or dated prior to issuance. Then when they were needed they were signed and issued, also on some banknotes as in the case of Monroe and Kirtland they were made out similar to a check today by writing the name of the person it was issued to on the note. Therefore when Oliver Cowdery arrived to assume the position of president of the Church in January 1837 many notes on hand most likely had been previously dated and only his signature was required. This cannot be 100% proven but it seems like the only logical assumption.
The second part of this lot is a companion document regarding legal action taken against the Bank of Monroe for non-payment or refusal to redeem its banknotes. Both this note and letter have been together through several collectors going back to a Dr. Lee who resided in Monroe Michigan in the mid-1800’s. This note may very likely be a remnant of the currency mentioned in this document which was refused payment by the Bank of Monroe. The letter, intact but with several repairs, is a very historical document regarding the banking practices of many banks of the era. Surely there were many similar documents accusing many broken banks of the era which have not survived the test of time. A printed copy of the letter with original spelling errors/differences is shown as follows:
State of Michigan,
County of Monroe.
On the 5 day of October in the year of our Lord one thousand eight hundred and thirty seven at the request of Farmenas Collins. I, Julius D. Morton, a Notary Public within and for the County and State aforesaid, duly commifsioned and sworn, dwelling in the City of Monroe, did present the original Notes of this Bank of Monroe inclosed herein amounting to Sixty four Dollars to B. J. Hathaway Cashier of the Bank of Monroe and demaanding payment thereof, received for answer that they had no funds for the redemption of said notes.
Whereupon, I, the said Notary, at the request aforesaid, did PROTEST, and to hereby solemnly PROTEST as well against the President, Director and Company of the said Bank as against all others whom it doth or may concern for exchange, reexchange and all costs, damages, and interest already incurred, or to be hereafter incurred, on account of the nonpayment of the said Notes.
On the same day and year above written I deposited in the Post Office at Monroe due notice of the foregoing protest for B. J. Hathaway Cashier and the President Director and Co. of the Bank of Monroe.
Thus done and protested at the City of Monroe on the day and year above written.
In testimony whereof, I have hereunto subscribed my name and affixed my seal of office.
J. D. Morton
Notary Public
This is truly a unique pair of banking items from the 1830’s which gives us additional insight as to the legal issues and problems with banks of the era. This is a museum grade item worthy of a strong bid and an opportunity to add a unique item to your collect
Auction Location:
3800 S Virginia St, Reno, Nevada, 89502, United States
Previewing Details:
Preview is available at our Reno office located at 3555 Airway Drive Suite #309 by appointment only, any
time prior to 4/12/2013. Call 775-852-8822 to schedule a preview. Space is limited. Preview is open to
the public on 4/12/2013 from 10:00am to 6:00pm at the Holabird-Kagin Americana Office.
3555 Airway Dr. Suite 309
Reno, NV 89511
775-852-8822
Sales tax will apply, according to state law, for any items that ship to Nevada or California or are picked
up at our Reno, Nevada location, unless a current, valid re-sale certificate is provided at the time of
purchase.
Taxes:
| Tax | Rate | Desc. |
| NST |
7.725% |
Nevada Sales Tax: |
| CST |
9% |
California Sales Tax: |
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
17.5% |
Additional Fees:
Shipping Details:
Shipping will be estimated prior to invoicing, based on the size and weight of your purchase. Additional shipping fees may be invoiced separately. The buyer is responsible for arranging and paying for shipment of large or special items. A $5 handling fee will be included in the shipping charge. The customer is responsible for all shipping charges. We do not ship any purchases until the auction invoice is paid in full. Purchases will be shipped via our approved, insured carriers: Federal Express or the US Postal Service. All items shipped Federal Express or USPS will be insured for the full value determined at auction by Holabird-Kagin Americana at no extra cost to the buyer. Federal Express shipments will be sent the Monday, Tuesday or Wednesday following receipt of payment. Pick up is available from our Reno office the next business day after the auction. NOTE: Some shipments (of unusual size, dimension, or weight) may require special handling for which individual costs will be calculated and applied to the shipping charge on the invoice.
Payment Details:
We accept Visa, Master Card, Money Order/Cashiers Check, Person Check, PayPal: HKAEbayRep@yahoo.com. A 3% discount is applied to the Buyer’s Premium on all sales. That discount will be reversed if payment is made with a credit card or through PayPal.
Accepted Payment Methods:
- VISA
- Master Card
- Money Order/Bank Draft
- Check/Cheque
- PayPal
April 2013
Treasures & Tribes Auction
Absentee Bidding will end
Thursday, April 11, 2013 at 5pm PDT,
Internet bids accepted any time
Terms and Conditions
1. This is a Live Auction.
2. Live (Floor) Bidding: Please arrive a few minutes early to check in and receive your bidding paddle. We will open lots with more than one bid at the current high absentee bid or 50% of the low estimate at the auctioneer’s discretion. Please be sure to bid on the correct lots during the live auction. Our auction progress is at a rate of between 100 and 200 lots per hour. When the auctioneer says “sold”, he will identify the successful bidder by number and announce the winning bid amount. If you are not sure whether you won the lot or not, it is your responsibility to ask for clarification immediately. Tie bids are awarded to the first absentee bid placed if not advanced on the floor, or by a phone bidder, whoever is first. Auctioneer reserves the right to reopen the lot in the case of an immediate dispute at the actual time of the sale.
3. Telephone Bidding: Telephone bidding requests MUST be scheduled prior to this auction. If you do not schedule in advance, and choose instead to call on the day of the auction to request a line for bidding, you may find that we are unable to accommodate your request. Please limit your telephone bids to items of value greater than $500, or to a string of items with a similar total.
4. Agent Bidding: There are numerous professional agents available to assist you should you require this service. Please contact the office for a list or to arrange for representation on the floor during the live auction.
5a. Live Auction Absentee Bidding: Absentee bids for the live auction must be received by Friday, April 11, 2013 at 5pm PDT. It is your responsibility to submit all lot numbers and bid amounts accurately. Absentee bids should be equal to at least 50% of the low estimate if an estimate is provided. Bids on “No Lots” or “Withdrawn” Lots are considered no-bids. Bids made in amounts that do not conform to the bid increment table in item 8 below will be automatically rounded up or down by the computer, or rounded to the nearest proper bid increment at the discretion of the auctioneer. Absentee bids are entered into a computer which will bid live on your behalf at the auction. Absentee bids will compete live against other absentee bids, live internet bidders, floor bidders and phone bidders.
5b. TIE BIDS: Bids are awarded at the discretion of the auctioneer and are based on the first bids brought to his/her attention during the live sale. Absentee bids are entered into a computer which will bid live on your behalf at the auction. Absentee bids will compete live against other absentee bids, live internet bidders, floor bidders and phone bidders. For your protection the computer does not reveal your maximum bid, therefore if another player bids the same amount as your maximum before your bid is accepted, the lot will be awarded to the live bidder. This is considered a tie bid. If you prefer us to call your bid at the live sale (jump to your maximum) please note this on your absentee bid sheet.
6. Internet Bidding: Absentee and Live internet bidding are both available through our live auction network. If you wish to bid LIVE via the internet, you MUST pre-register. A live video and sound feed will be accessible during the auction for those bidding via the internet. Online bidding remains open through the live auction and online absentee bids may be placed anytime. Live bidding will open when the auction starts. Internet bidding is offered as a convenience for those who cannot attend the live sale. Please note that there may be delays or interruptions in internet connectivity that are beyond our control. Attending the live auction or arranging for an agent is the most reliable way to secure your bids.
WARNING: Auction participation through the live internet bidding site is not 100% foolproof. The technology for this process is still under review and development, and the operation of it and the corresponding internet connectivity issues are far beyond our control. Some folks have attempted to use the live internet bidding process as their primary method of bidding, and have been quite successful. Others have failed completely. Depending upon your computer, server, host, and other factors, internet signals may be delayed, such that bids may not be received in time. We cannot be held responsible for these delays, or for the lack of placed bids in a timely manner, or any other factors leading to unaccepted bids that are far beyond our control. Bidders should always have a backup plan for lots they highly desire. Live participation is best, followed by phone participation. We will not reopen lots for missed bids.
7. Reserves: Most of the lots in this auction are unreserved. Gold is generally reserved at or near spot, though it could be slightly below spot.
8. Bidding Increments: All bids must be submitted in U.S. dollars and in whole dollar amounts only in the appropriate increments as outlined below. If you choose to submit bids in an increment not listed below, your bid will be rounded to the nearest increment and you will be expected to pay the amount to which the bid was rounded should your bid be the winning bid. If you have any questions about an appropriate bid amount, please call us.
From: To: Increment:
$0 $29 $1
$30 $95 $5
$100 $190 $10
$200 $475 $25
$500 $1,450 $50
$1,500 $3,400 $100
$3,500 $9,750 $250
$10,000 $max $500
9. Bid Reduction: All winning absentee bids will be reduced, if necessary, to the next bidding increment up from the last competing bid, as long as the minimum bid requirement has been met. For example, if you submit an absentee bid of $1000 and the next highest competing bid is $250, then you will win the lot for $275.
10. Bid Information: Collectors often ask in advance the price level of a particular lot. We will give out the current high absentee bid until we close the day before the live auction. You may also view absentee bids online at www.holabirdamericana.com.
11. Bid Cancellation: If you wish to cancel or change a bid after you have submitted your bids to us due to an error, you MUST PHONE us to advise us of this. Bid cancellations through mail, email, or fax are not advisable. Errors are easy to make and we are happy to assist all callers.
12. All stock certificates, checks, warrants, and other financial documents sold herein are sold as antiquities, and have no financial, securities, or public trading value whatsoever.
13. We reserve the right to reject any bid we feel is not made in good faith.
14. The placing of a bid shall constitute the bidder’s acceptance of these terms of sale.
15. Buyer’s Premium: There will be a 19.5% Buyer’s Premium added to each lot. US Coin, Nuggets, Ingots and/
or Paper Money are calculated at a 17.5% buyer’s premium. These premiums include a 3% discount for transactions paid with cash, checks, money orders or wire transfers. All other forms of payment are not subject to the 3% discount and the Buyer’s Premium will be calculated at 22.5% (20.5% on US coins, gold, & currency.)
16. Sales Tax: Sales tax will apply, according to state law, for any items that ship to Nevada (7.725%) or California (9.0%) unless a current, valid resale certificate is faxed to us at 775-852-8866 before bids are placed.
17. Invoicing: Shipping charges will be added to all invoices. Invoices are mailed or emailed within two business days after the close of all portions of the sale. Within 15 calendar days of receipt of invoice, payment is due in full to Holabird-Kagin Americana, 3555 Airway Dr., #308, Reno, NV 89511. Sales tax will be added to all sales picked-up after the auction or shipped to California or Nevada addresses, according to state law, unless a resale certificate is provided.
18. Payment: We accept Visa, Master Card, Money Order/Cashier’s Check, Personal Check, PayPal: HKAEbayRep@yahoo.com. A 3% discount is applied to the Buyer’s Premium on all sales. That discount will be reversed if payment is made with a credit card or through PayPal. All returned checks are subject to a $25 fee. Cash received in amounts greater than $10,000 is subject to the filing of IRS form 8300, as required by law.
19. Shipping: Shipping will be estimated prior to invoicing, based on the size and weight of your purchase. Additional shipping fees may be invoiced seperately. The buyer is responsible for arranging and paying for shipment of large or special items. A $5 handling fee will be included in the shipping charge. The customer is responsible for all shipping charges. We do not ship any purchases until the auction invoice is paid in full. Purchases will be shipped via our approved, insured carriers: Federal Express or the US Postal Service. All items shipped Federal Express or USPS will be insured for the full value determined at auction by Holabird-Kagin Americana at no extra cost to the buyer. Federal Express shipments will be sent the Monday, Tuesday or Wednesday following receipt of payment. Pick up is available from our Reno office the next business day after the auction. NOTE: Some shipments (of unusual size, dimension, or weight) may require special handling for which individual costs will be calculated and applied to the shipping charge on the invoice.
20. Non-Payment: Any lots not paid for within specified time frames will be cancelled. Any bidder who fails to follow the terms of payment may be barred from participating in future Holabird-Kagin Americana auctions, and will not be included on catalog mailing lists.
21. Condition: We strongly recommend that you attend the live preview to see lots in their entirety. Conditions are not always noted, and large lots may not be itemized due to catalog restraints. For questions, detailed information, or additional images of any lot please contact our office at 775-852-8822. Bidders are responsible for understanding the condition of items. Conditions noted are subjective, and may differ in the opinion of different people or collectors.
21. Return Policy: All items are guaranteed to be authentic unless otherwise noted. If authenticity is challenged, please call our office for assistance. You may return any piece that was significantly inaccurately described by calling our office within 30 days of receipt of item(s) and notifying us of the error and reason for return. We do not refund postage or insurance. We have attempted to describe the items and their condition accurately. If no condition is given, assume average. Please call us if you require a more specific condition report. Any items that are returned must be returned in the exact, unaltered condition. NGC certified tokens that are returned must be original, unaltered NGC holders. Any tokens removed from the original NGC/NCS certification holders or items returned in an altered condition are deemed not returnable under any circumstances. When we receive your bids we will assume you have read the description in the catalog, viewed the image of the item, have contacted us regarding any questions you may have on any lot and/or have previewed the lot in person. Therefore, returns are only accepted if prior approval is given by Holabird-Kagin Americana.
22. This sale is being held under the laws of the states of Nevada and California.
23. Neither Kagin’s, Inc. nor its subsidiary auction company Holabird-Kagin Americana shall be held responsible for any problem due to the bidders failure to follow the rules, terms and conditions of this sale, or any failure to bid due to the loss of the online auction process provided by any of the online auction networks; or missed bids, changed bids or cancelled due the bidders failure to follow the proper bidding procedure outlined herein.