More than 3,000 private banks in 34 states produced 30,000-plus varieties of obsolete notes during the mid-1800s at the height of production.īeginning in the 1860s obsolete notes began to be replaced in circulation with paper money issued by the federal government. Many private note-issuing banks eventually failed or simply stopped issuing the notes, thus the “obsolete” moniker. Obsolete notes were issued in the 18th and 19th centuries by private banks and other businesses, and even by state and local governments. Treglia said Mayer tried to buy “an example from each bank in Massachusetts, New York and New Jersey.”įirst things first: Know what you are pursuing. His knowledge and dedication to the hobby was undoubtedly noticed immediately after meeting with him.” Treglia said he met Mayer “about 11 years ago at one of the early Schingoethe sales. Part III will be offered in March 2015, and that auction will conclude the sales of the 800 to 900 obsolete note proofs from Mayer’s collection.Īccording to Peter Treglia, director of currency at Stack’s Bowers Galleries, following the March 2015 auction there will be three to five more sales for the signed and issued obsolete notes from Mayer’s collection. 30, 2014, Winter Baltimore Auction in conjunction with the Whitman Baltimore Expo. 7, 2014, Rarities Night Auction during the American Numismatic Association World’s Fair of Money in Rosemont, Ill., and Part II was offered in the firm’s Oct.
Stack’s Bowers Galleries offered Part I of the Peter Mayer Collection of obsolete note proofs in its Aug. He left behind a large trove of proof and issued obsolete notes primarily from the New England states, though he placed an extra emphasis on notes from his home state of New Jersey. He wanted to study the notes, especially the vignettes, to discover the stories they had to tell and then share what he learned with others.
But not just to acquire and then store them away. He pursued obsolete notes with a passion.
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