Rare Huntoon Collection, PMG-Certified Notes Featured in First Teletrade® Currency Auction

Posted on 8/1/2006

Teletrade® is set to launch its inaugural currency auction with two dozen ultra-rare bank notes from the Huntoon Collection.

Prescott Arizona Bank Note
 
Salt Lake City Bank Note

Two dozen rare bank notes from the celebrated collection of renowned researcher and collector, Peter W. Huntoon, are among the more than 500 notes that are now being offered in the Inaugural Teletrade® Certified Currency Auction, Sunday, September 10, 2006.

"This is a spectacular way to launch our currency auctions. Peter Huntoon is one of the country's most respected and distinguished bank note researchers, authors and collectors," said Ian Russell, Teletrade® President. Huntoon hosted an educational seminar on National Bank Notes at the PCDA show in November, 2005, sponsored by PMG.

The Huntoon Collection National Bank Notes in the auction include a First National Bank of Prescott, Arizona 1929 $10, Type One (Fr. 1801), with serial number C000001A, graded PMG Choice CU-64, and a unique Utah Territory, original proof $5 First National Bank of Utah at Salt Lake City note (Fr. 399), graded PMG Choice-63.

"Only 11 banks issued small-size notes, and serial number one notes from Arizona are few and far between in any grade. This $10 note is a true rarity from a state that many National Bank Note collectors actively seek," said Russell.

"The Salt Lake City Territory bank was chartered in 1869 and went into receivership by the Desert National Bank in 1874. Although $681 in notes remain outstanding from the Salt Lake City Territory issues, the proof $5 is the only known surviving example. This is probably the only opportunity for a collector to obtain an issue from this bank."

Glen Jorde, Grading Finalizer at PMG, comments: "This is the first Proof Territorial National Bank Note that PMG has certified, and it's all the more special that it has garnered the Exceptional Paper Quality designation. It's just one of the spectacular highlights of the Huntoon collection."

Between 20,000 and 30,000 certified coins are offered each month in Teletrade® auctions. Regularly scheduled auctions of certified currency will begin with the sale closing on Sunday, September 10, 2006.

"We will have a wide variety of over 500 consigned notes in this exciting inaugural auction, as well as 26 prized notes from Peter Huntoon's personal collection," said Russell.

For additional information, contact Teletrade® at (800) 949-2646 or online at www.teletrade.com. More information about PMG is available online at www.PMGnotes.com, or by phone at (877) PMG-5570.