How US Currency Was Made In 1877 - Coin Community Forum

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Author	Replies: 5 / Views: 1,267
Coinfrog Bedrock of the Community United States 94367 Posts	Posted 03/04/2019 7:02 pm For those who have access, the March issue of the Bank Note Reporter has a wonderful article titled "Report on Making Currency in 1877" by one of the deans of the hobby, Peter Huntoon. Most of the article is a direct recapitulation of a Treasury report from 1877, along with introductory and concluding remarks by the author. Basically, it describes every single step involved in printing each note, including examining, multiple counting, multiple wetting, multiple pressing and further examining steps in addition to the actual printing! And all of this before the sheets passed through the Comptroller of the Currency's office for further counting, and of course before the sheets were shipped to the banks for further handling, signing and cutting. Huntoon concludes that typical large size notes from that era finally reached circulation in grades that the TPGs are now rating as XF or the high end of VF. Fascinating read for large note collectors. Edited by Coinfrog 03/04/2019 7:47 pm Report this Post to the Staff

SteveInTampa Pillar of the Community United States 4637 Posts	Posted 03/04/2019 7:46 pm It's articles like this that make me question my decision to let my subscription to Bank Note Reporter lapse. I also canceled my ANA membership because after a year of getting their magazine, The Numismatist, I realized it's geared heavily towards the coin collecting crowd. Peter Huntoon is one of, if not the best numismatic journalist writing today. His time and resources to research and write the detailed articles included in all the bank note news magazines is limitless. I am a little puzzled by this " Huntoon concludes that typical large size notes from that era reached circulation in grades that the TPGs are now rating as XF or the high end of VF." Many Uncirculated examples are available, so, go figure. Report this Post to the Staff
Coinfrog Bedrock of the Community United States 94367 Posts	Posted 03/04/2019 8:07 pm I think he's just saying that many early notes in high grades may not have circulated at all, but were just victims of the laborious process (over 75 operations at the BEP alone)) of printing at the time. It's just a scholarly observation. He concludes by saying: "As for me, I'll take the raw high-end VF any day! I bought plenty of them right from the bankers in the old days with full knowledge that they never saw the inside of a wallet. I highly revere the originality that comes with such genuinely uncirculated notes. (High TPG) numbers are utter nonsense to me." Old school, but you have to respect it. Report this Post to the Staff
coinfun31 Valued Member United States 140 Posts	Posted 03/04/2019 10:18 pm cool thank for the nice read Report this Post to the Staff
Coinfrog Bedrock of the Community United States 94367 Posts	Posted 03/05/2019 09:55 am I admire the fact that he is not shackled by the TPG mania that grips so much of our hobby today. A true collector. Report this Post to the Staff
CelticKnot Bedrock of the Community United States 12813 Posts	Posted 03/05/2019 4:09 pm I'll be looking for my first issue of "Bank Note Reporter" in the coming weeks! Well, my first paid issue, anyway (thanks, Coinfrog). Report this Post to the Staff
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