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Rare Money Blog

replacement note offered in the august collectors choice online auction stacks bowers galleries

Ultra-Rare 1929 $10 Dallas Replacement from the Gary Burhop Collection of Federal Reserve Bank Notes

By Christopher Dahncke, Currency Auction Associate

Author: Chris Dahncke / Wednesday, August 04, 2021 / Categories: Paper Money of the Week

Our August CCO auction will feature The Gary Burhop Collection of 1929 Federal Reserve Bank Notes, which consists of 102 FRBN’s from various districts and denominations, including replacement notes, and features quite a few treasures. We previously offered the Gary L. Burhop Type Coins of Canada in our Bowers and Merena sale of 1996; at the time this was considered the finest and most complete collection of Canadian type coins ever assembled. Mr. Burhop has collected coins and currency for 60+ years and is a life member of the American Numismatic Association, along with other numismatic groups. Gary has been an active bidder with various auction houses since 1973 and an active trader since 1974, participating in various local and regional shows often attending six or more shows a year. He has held various numismatic related jobs, such as being appointed chairman of The Tennessee State Quarter Commission to select the design for the 2002 dated twenty-five cent coin honoring that state. He also served as the Tennessee State Editor of the reference on circulating banknotes of the 1830s-post Civil War titled Obsolete Paper Money, Volume 7 – Southern States from Whitman Publishing (2016). We are proud to offer Gary’s notes in our upcoming sale – the second finest assembled registered set of PMG FRBN’s.

One treasure from Gary’s collection is a Fr. 1860-K* 1929 Federal Reserve Bank Star Note from the Dallas district graded Very Fine 20 by PMG. This note is historically important as just four replacements are known for the Friedberg number according to Track and Price's census. Replacement notes have always been sought by small size collectors, especially from the Dallas district. According to the Standard Guide to U.S. Small Size Paper Money by John Schwarz and Scott Lindquist, Dallas is tied with just one other district (Chicago) as being the lowest issuer of replacement notes for the 1929 $10 FRBN series. Dallas issued just 12,000 replacements, and as of 2021 four are reported to have surfaced. The Burhop example offers dark brown overprints while the primary design displays still attractive black ink. The design of the Treasury Building on the reverse faces up well in forest green ink. Mostly even wear and circulation are noticed. The last time we offered a $10 Dallas Star was in our November 2017 Baltimore auction, and that example realized $14,400.

PMG Pop 1/1 Finer.

The Stack’s Bowers Galleries August CCO auction will be posted to our website by August 20th. To consign your U.S. paper money and world paper money to a future sale, contact a consignment specialist at 800-458-4646 or visit StacksBowers.com. For more information on viewing lots or for assistance in registering to bid, email your inquiry to: [email protected]​.​

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