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Press Release - July 1, 2010

1875 Walla Walla, WA $5 brings $161,000 to lead $5.1 million Heritage Memphis Currency Auction

Rare U.S. and World notes make strong showing at International Paper Money Show

Dallas, TX -- Heritage Auction Galleries’ Currency Signature® Auction held in Memphis, TN, June 17-19, in conjunction with the Memphis International Paper Money Show, showed continued strength in the rare currency market, successfully realizing $5.1 million.

“This auction contained a wide variety of significant U.S. and World notes,” said Allen Mincho, Director of Currency Auctions at Heritage, “and savvy collectors – both at the show and online – were more than happy to take advantage of the offerings.”

Highlights from Session One included: a BC-28 $1000 1937 PMG Gem Uncirculated 65 EPQ, which realized$19,550; an exceedingly rare green ink Russian-American Company 1 Rouble ND (1816-1867) Pick UNL Kardakoff 53.4, one of two known, graded PMG Choice Very Fine 35 Net, finishing at$18,975; a Puerto Rico Bank of Porto Rico in San Juan $10 1.7.1907 Pick 48ctfp Face ProofPMG Uncirculated 61 Net brought $18,400; a Australia Bank of Queensland Limited Dalby Branch £1 Dec. 1, 1864 Pick UNL PMG Very Good 8 sold for$17,250 and a Hawaii Republic of Hawaii Silver Certificate of Deposit $10 1895 (1897) Pick 12a PCGS Fine 12 also realized$17,250.

Other notable items from Session One included a rare Maryland Colonial Allegorical note that sold for $6,325 and three scarce Darwin, Calif., obsoletes that sold for more than $4,600 each.

High denomination Small Size Federal Reserve Notes led the prices realized results for Session Two, with a Fr. 2221-K $5000 1934 LGS Federal Reserve Note. PMG Very Fine 30 bringing $63,250 and a Fr. 2231-K $10000 1934 Federal Reserve Note PCGS Apparent Very Fine 25 realizing $63,250.

The highest price realized in the auction came near the end of Session Three when a Walla Walla, Washington Territory - $5 1875 Fr. 403 The First NB Ch. # 2380 PMG Very Fine 25crossed the auction block and was sold for$161,000. The Serial Number One Flagstaff, AZ - $5 1902 Plain Back Fr. 606 The First NB Ch. # (P)11120 PMG Choice Uncirculated 64 EPQ realized$69,000.

All of the prices realized include a 15% Buyer’s Premium.

Heritage Auctions, founded by Steve Ivy and Jim Halperin, is the world’s third largest auction house, with annual sales more than $600 million, and 500,000+ registered online bidder members. For more information about Heritage Auctions, and to join and gain access to a complete record of prices realized, along with full-color, enlargeable photos of each lot, please visit HA.com.

Want to get the up-to-the-minute updates and breaking news stories about Heritage Auctions? Get them as they happen at: Twitter.com/HeritagePress; Twitter.com/JimHalperin; Facebook: Heritage Auction Galleries. To view a compete archive of Heritage press releases go to: HA.com/PR. To link to this press release on your blog or Website: HA.com/PR-1860.

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