PMG will begin use of a new generation holder on January 3, 2011. All notes encapsulated after that date by PMG will automatically be placed in the new holder. Additionally, the new holder will be used for on-site grading during the Florida United Numismatists (FUN) convention in January. This holder marks the first design iteration of the PMG holder since the company launched in 2005. The second-generation PMG holder is made from the same high-quality inert materials and is very similar in shape and overall aesthetics; however, it features new, highly sophisticated anti-counterfeiting and tampering-prevention technologies.

While PMG has not had any reported instances of holder tampering or counterfeiting, the company’s mandate requires periodic reviews of the security of its products. PMG was able to take advantage of advances and technologies used by other Certified Collectibles Group companies, including NGC, in their own certification holders. Ultimately, the holder was upgraded to maintain PMG’s leadership role and the strong preference for its certification holder among currency collectors.

“Our newest label and holder fully satisfies PMG’s combined objectives of exceptional visual display, security and long-term preservation,” comments PMG Grader Richard Stelzer.

Some of the changes will be almost invisible. For example, the label in the second-generation PMG holder includes a conservation-grade UV fiber paper, as did the previous version, but also includes a new UV watermark. These features are not visible under normal light, but when viewed under ultraviolet light these features help confirm the authenticity of PMG product.

Additionally, spot metallic-foil and holographic patterns have been added to the label design and borders. A state-of-the-art hologram is also now fused directly to the label paper. All of these features combine to make the PMG label virtually impossible to reproduce.

The outside holder itself has also undergone important changes. The holder’s sealed edges now include an embossed pattern. The custom design relies on a unique safe-sealing method pioneered by Certified Collectibles Group. The complex repeating texture includes the PMG logo and other elements within the seal that also confirm the quality and thoroughness of the holder seal.

For more information or to have your notes encapsulated in the newest PMG holder, contact PMG customer service at 1-877-PMG-5570 or service@PMGnotes.com.

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Ponterio & Associates, a division of Bowers and Merena Auctions, is pleased to present the January 2011 N.Y.I.N.C. Auction at the Waldorf Astoria in New York on Jan. 7-8. The auction will feature 2,558 lots including Part I of the Len Novotny Collection of Mexican Coinage, the Michael Demling Collection of Ancient Coinage, David Ian Wright Collection of Italian Banknotes and a superb selection of Fussli specimens.

“After wrapping up our December Hong Kong auction with the Wa She Wong Collection, we are excited to offer another extremely diverse selection of ancient and world coins and paper money,” said Rick Ponterio, executive vice president of Bowers and Merena. “Sure to be the center of attention, the 1854 Guatemala 8 Reales, lot 1036 and graded AU-55 by NGC, is perhaps the rarest crown-sized type coin for all of Latin America.”

Shortly after the production of this coin, the Republic of Guatemala adopted the decimal system and began producing coinage in Pesos and Centavo-equivalent denominations. This marks the coin as the first, last and only 8 Reales produced by the Republic of Guatemala.

Another anchor of the sale is lot 827, an extremely rare and important 1897 Anhwei Pattern Dollar, graded MS-62 by PCGS. “This particular specimen is clearly intended for special presentation purposes as it exhibits a bold, full-bodied strike with all special characters and sharp details,” said Ponterio.

Furthering the significance of the piece, the short-lived Anhwei mint only produced silver coinage for approximately two years before operations ceased and the mint was dismantled.

Additional coin and paper money highlights of the auction include:

· Lot 116, 1784/3 Mexico 8 Escudos, Key Charles III Proper Portrait, Choice Extremely Fine

· Lot 131, 1823 Mexico 8 Escudos, Hookneck Eagle, AU-55 (NGC)

· Lot 258, 1835 Belgium 40 Francs, MS-64 (NGC)

· Lot 357, 1850 Costa Rica ½ Onza, SP-61 (NGC), (Ex: Fredrick Mayer Collection)

· Lot 464, 1883 Honduras 10 Pesos, , AU-50 (NGC)

· Lot 549, 1926 Italy 50 Lire, MS-64 (NGC)

· Lot 550, 1926-R Italy 20 Lire, MS-65 (PCGS)

· Lot 2031, 264 B.C. Siculo-Punic Silver Dekadrachm, Time of First Punic War, Sicilian Mint, Choice Very Fine

· Lot 2536, 1892 Bank of Greece 100 Drachmai, P-45

· Lot 2611, 1913 Imperial Bank of Persia 2 Tomans, P-2, About Uncirculated, Consecutive pair

· Lot 2613, 1890-1923 Imperial Bank of Persia 1,000 Tomans Specimen, P-10s, Choice Uncirculated

The first day of the two-day auction will feature Part I of the Len Novontny Collection of Mexican Coinage and an array of world gold coins, world crowns and minors. The second day will host the Michael Demling Collection of Ancient Coinage, David Ian Wright Collection of Italian Banknotes, and ancient and world paper money including Fussli specimens. Lot viewing will be conducted before the sale at the Waldorf Astoria in the Morgan Suite, floor 18, Jan. 5-8.

All lot descriptions and images can be viewed online at the firm’s web site by visiting www.bowersandmerean.com. Bidding is open and pre-auction bids can be placed through the firm’s web site, by email at auction@bowersandmerena.com, via fax at 949-253-4091, by calling a representative at 800-458-4646 or by postal mail addressed to Bowers and Merena, January 2011 N.Y.I.N.C., 18061 Fitch, Irvine, CA 92614.

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Officials at the Bureau of Engraving and Printing are working with Crane & Co., the Massachusetts company which has supplied the government with paper for currency for more than 130 years, to identify what caused the errors, but it’s unclear if the problem was caused by Crane’s paper or some other element of the printing process.

A person familiar with the situation said that at the height of the printing process, as many as 30 percent of the bills rolling off the printing press included the flaw, leading to the production shut down.

The government said it believes most of the 1.1 billion bills already printed can be salvaged, but any of the bills that were misprinted will have to be shredded.

According to a source familiar with the matter, the bills are the most costly ever produced, with a per-note cost of about 12 cents—twice the cost of a conventional bill. That means the government spent about $120 million to produce bills it can’t use. On top of that, it is not yet clear how much more it will cost to sort the existing horde of hundred dollar bills.

Sorting such a huge quantity of bills by hand, the officials estimate, could take between 20 and 30 years. Using a mechanized system, they think they could sort the massive pile of bills in about one year.

The new $100 bills feature an array of new security features aimed at thwarting counterfeiters, including a blue 3-D security ribbon with small images of bells that change into 100s as the bill is tilted. The strip is woven into the front of the bill. In addition, the new design features an image of a color-shifting bell inside a copper-colored inkwell on the lower front. Officials also retained some older security features, such as portrait watermarks and raised printing. The Geithner bills also cost more to produce than the Paulson version – nearly 12 cents per bill versus 8.5 cents for each Paulson bill.

According to the Bureau of Engraving and Printing Web site, more than “a decade of research and development” went into the new bill’s security features. That increased complexity likely played a role in the recent production errors.

“This is the most complex note that the U.S. government has ever put into circulation,” one Treasury official said. “As the notes become more sophisticated, the printing becomes more sophisticated.”

Only a portion of the nation’s money supply exists in the form of paper money or coins; a larger amount is held in bank accounts and other electronic forms. The Federal Reserve authorizes the creation of paper money based on how much banks request, and the currency is printed by the Bureau of Engraving and Printing, then distributed through the regional Federal Reserve system to banks around the country.

There was $978 billion in paper currency and coins outstanding as of last week, while the total money supply, using a measure that includes money in checking accounts, savings accounts, and money market mutual funds is about $8.8 trillion, according to the Federal Reserve.

The government rarely has encountered serious problems in the production of new currency. One other significant delay came in 1987 when the Treasury announced that technical problems had postponed the issuance of the first redesigned American currency in a half century. The new bills did not begin to circulate for several years.

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Heritage Auctions, the official auctioneer of the Florida United Numismatists (FUN) Show, will present a substantial number of rare and exceptional notes as part of its Signature® Currency Auction. The auction will consist of three floor sessions, held Jan. 6-8, 2011 in Tampa, FL and one online-only session that will take place Jan. 10, 2011 in Dallas, TX.

Among the scarce items is a newly discovered Fr. 10a $10 1861 Demand Note, the only known example. The recently released 19^th edition of Paper Money of the United States listed examples of that Friedberg number as “unknown.” Clerks signed the notes on behalf of the Treasurer of the United States and the secretary of the Treasury and included the handwritten notation “for the.” The process proved to be too cumbersome and the plates were changed to include that wording. All of the handwritten “for the” examples are rare today, with a St. Louis example unknown until now.

A number of exceptional Large Size Legal Tender notes are being offered, including a Fr. 127 $20 1869 Legal Tender graded by PCGS as Gem New 65PPQ. That note is among a large number of outstanding notes being offered as part of The Menlo Park Collection. A Fr. 1072a $100 1914 Red Seal Federal Reserve Note graded PCGS Gem New 65PPQ is also being auctioned as part of the collection.

Also among the Legal Tender offerings is a Fr. 158 $50 1880 Legal Tender graded by PCGS Choice About New 55. A rare note, it is one of only nine examples known. The $50 is new to the census and is being offered publicly for the first time.

Several exceedingly rare replacement notes will be presented, including a Fr. 303* $10 1908 Silver Certificate, one of only three replacement notes known for the type, graded Very Good 10 Net by PMG. The note is new to the census and is being offered to the collecting community for the first time.

An attractive uncut sheet of serial number 2 1882 Brown Backs from Lynchburg, VA is among the Nationals that will be auctioned. The $50-$100 uncut sheet is one of only two known examples from all states. Additionally, the $50 Brown Back is the only known example from Virginia. The $50-$100 1882 Brown Backs Fr. 510/522 from The Lynchburg NB Ch. #1522 are graded About Uncirculated 53 by PMG.

A lovely Campbell, NE- $10 1902 Red Seal Fr. 615 First NB Ch. # (W)8975 graded Fine 15 by PCGS becomes the first reported note from the bank. Among the many new discoveries is a Fr. 830 $20 1915 Federal Reserve Bank Note that becomes only the fourth known example. The Dallas $20 is graded PMG Choice Fine 15.

Another rarity, a Fr. 1383-a Fractional Currency Shield with Green Background, will also cross the auction block. The green background examples are the rarest of the three colors, with approximately ten examples known. The green background is deep and vibrant on this shield and the beautifully framed piece should merit spirited bidding.

The only known example of the Barlett (Bartlett), TX title error will be part of the Nationals session. The title error on the $10 1929 Type 1 Fr. 1801-1 The First NB Ch #5422 was discovered by one of Heritage’s catalogers after the note was consigned. The $10 is graded PMG Very Fine 25.

A stunning set of front and back Die Proofs featuring a Fr. 1500 $1 1928 Legal Tender Note; Fr. 1850-G $5 1929 $5 FRBN; Fr. 1860-G $10 1929 FRBN; Fr. 1870-G $20 1929 FRBN; Fr. 1880-G $50 1929 FRBN; and Fr. 1890-G $100 1929 FRBN will provide an important session highlight. The notes are accompanied by a letter from Secretary of the Treasury William H. Woodin stating that the proofs were furnished to James H. Douglas who served as Assistant Secretary of the Treasury under Ogden Mills from February 1932 to June 1933. Douglas also served as Secretary of the Air Force under President Eisenhower. The item was consigned by the Douglas family and is accompanied by a sheet of Fr. 1602 $1 1928-B Silver Certificates. It was the third sheet printed and is the only known 1928-B sheet

Yet another unique note being offered in Tampa is a Fr. 2220-K 1928 $5000 Federal Reserve Note graded by PCGS as Apparent Fine 15. That Friedberg number was previously unreported. The Dallas $5000 note has been locked away in a vault for decades and is being offered at auction for the first time.

One of the highlights of the auction for Small Size enthusiasts is a Fr. 2308* $10 North Africa Mule Star Silver Certificate. PMG assigned a grade of Very Fine 25 to the scarce note.

A number of rare Obsoletes will be included in the FUN auction, among them an Austin, TX- Republic of Texas 25¢ May 1, 1843 PMG Very Fine 20. Exchequer notes were the last paper money of the Republic and were issued from 1842-45. They were closely controlled and diligently destroyed when redeemed due to their being backed by gold, leaving only an estimated two dozen or so examples of all denominations combined for collectors. These important notes were also actually signed by Sam Houston.

Heritage Auctions, headed by Steve Ivy, Jim Halperin and Greg Rohan, is the world’s third largest auction house, with annual sales more than $600 million, and 500,000+ 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.

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“These historic, Southern California large and small-size notes have been off the market for decades in his collection. There are several unique and serial number one examples,” said Larry Goldberg, partner with his cousin, Ira, in the auction firm.

Photo Caption: The First National Bank of Santa Ana, 1902 $10 Red Seal, PCGS Currency VG10, unique, the only known Red Seal from Orange County California, is one of the highlights of the William Pannier Collection to be offered in an auction by Ira & Larry Goldberg Coins & Collectibles, January 31 – February 2, 2011. Photo credit: Lyle Engelson for Ira & Larry Goldberg Coins & Collectibles

Pannier, who died in August at the age of 66, was the long-time owner of Fullerton Coin & Stamp Company, the oldest coin and stamp store in Orange County California. Well-known collector and real estate developer Dwight Manley worked at the shop on weekends as a teenager, and considers Pannier a beloved numismatic mentor.

Pannier began collecting silver certificate notes in the late 1960s and then became interested in Orange County currency, according to his brother David.
“We were second generation Orange County residents. Orange County was in our roots. Some of the notes were displayed at the store, but he kept the more pricey things at home. He always tried to upgrade the notes or get a lower serial number for his collection,” David Pannier recalled.

Highlights of the Orange County California bank notes in the Goldberg’s auction include:

• The First National Bank of Fullerton, 1882 $10 Value Back, graded PCGS Currency VF30, the finest of only three known Value Backs from the entire county;

• The Farmers & Merchants National Bank of Santa Ana, 1902 $20 Date Back, PCGS Currency VF20PPQ, one of only four known from the bank;

• The First National Bank of La Habra, 1902 $10 Plain Back, PCGS Currency VG10, one of only two known from the town;

• The National Bank of Orange, 1902 $10 Date Back, PCGS Currency Very Choice New 64, the finest known large size note from this bank;

• The Placentia National Bank of Placentia, 1902 $10 Plain Back, PCGS Currency VF25, one of only seven notes known from the town;

• First National Trust & Savings Bank of Fullerton, 1902 $10 Plain Back, PCGS Currency F12, one of only four known large size notes from this bank;

• The First National Bank of Santa Ana, 1902 $10 Red Seal, PCGS Currency VG10, unique, the only known Red Seal from Orange County California;

• The First National Bank of Garden Grove, 1902 $5 Plain Back, PCGS Currency F15, one of only 10 large size notes known from the town;

• The First National Bank of Santa Ana, 1929 $10 Type 1, PCGS Currency VF20, the only known serial number 1 on a Santa Ana note;

• The First National Bank of Tustin, 1929 $10 Type I, PCGS Currency VF20;

• The First National Bank of Olive, 1929 $10 Type 1, PCGS Currency VF30PPQ, one of the two finest of nine small-sized notes known from the town;

• Oilfields National Bank of Brea, 1929 $5 Type 2, PCGS Currency Choice About New 58PPQ;

• and an uncut, six-subject, serial number 1 sheet of Anaheim First National Bank 1929 $20 Type 1 notes, PCGS Currency About New 58 PPQ.

David Pannier remembers his thoughts the first time he saw the huge gold nugget that his brother purchased about eight years ago: “My God! You can’t put that in a necklace!” The impressive nugget was displayed at the coin store for years, but when Willie Pannier became ill early in 2010 he took it home and used it as a paper weight, according to his brother. “He liked to look at it and admire it.”

Photo Caption: Nicknamed “The Fullerton Boulder,” this 34.705 ounce gold nugget (photographed next to a quarter-dollar for size perspective) is one of the highlights of the William Pannier Collection to be offered in an auction by Ira & Larry Goldberg Coins & Collectibles, January 31 – February 2, 2011. Photo credit: Lyle Engelson for Ira & Larry Goldberg Coins & Collectibles

“This is the largest gold nugget we’ve ever offered for sale in our 50 years in numismatics. It weighs 34.705 ounces,” said Larry Goldberg.

The Fullerton Coin & Stamp Co. opened in 1961 and will mark its 50th year in 2011. William Pannier bought the store in 1976. After he died of cancer in August, Manley acquired the store and reopened it.

“There was only one Willie. He was a very special, one-of-a-kind person who transcended from another era. I brought him to the American Numismatic Association for the first time in 2003 to attend the renaming of the library in my honor. He was an important part of many people’s lives including mine and my children’s. We will always love him,” said Manley.

Lot viewing for the auction will be conducted January 24 – February 2, 2011 at the Beverly Hills, California offices of Ira & Larry Goldberg Coins & Collectibles, 350 South Beverly Dr., Suite 350. The auction will be conducted at the Crowne Plaza Beverly Hills Hotel, 1150 South Beverly Dr., January 31 – February 2.

For additional information about the collection and other coin and bank note items in the auction, contact Ira & Larry Goldberg Coins & Collectibles by phone at (800) 978-2646, by email at info@GoldbergCoins.com or visit online at www.GoldbergCoins.com.

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