Heritage's Upcoming FUN Sale to Feature The Texas Collection of National Bank Notes

Dallas, Texas: Heritage Numismatic Auctions, Inc. is pleased to announce that its upcoming 2001 FUN Signature Sale will feature the outstanding Texas Collection of National Bank Notes. The Texas Collection consists of almost 500 National Bank Notes that represent nearly 450 different Texas National Banks, and is the finest collection of these bank notes in private hands today. With the exception of the Irish Collection, this is also the finest collection of Texas Nationals ever to cross the auction block. The consignor of the Texas Collection is Steve Ivy, Co-Chairman of Heritage. Mr. Ivy was a prominent buyer at the Irish and Everson sales, and specialists will recognize many rarities from those sales in our upcoming auction. There are countless notes of which only one or two examples exist. Nearly all of the notes are large size, with numerous representatives of first and second charter issues. "The breadth and scope of this collection is tremendous," noted Bob Korver, Director of Heritage Numismatic Auctions. "There are notes in this collection that have not been available on the market for decades, and it is unlikely that they will return to auction in the near future. There is such strong demand for National Bank Notes in today's market, that we anticipate spirited bidding on all lots in the Texas Collection."

Steve Ivy, a native Texan and passionate collector of Texana, formed the Texas Collection of National Bank Notes over a period of several years. In fact, Mr. Ivy exhibited his collection of Texas historical documents, books, and broadsides during the Texas sesquicentennial at the Dallas Hall of State, where these items delighted both specialists and casual spectators. One of the reasons Mr. Ivy is selling these notes is to be able to better concentrate his collecting activities toward buying rare Texas manuscripts and books. "I need more focus in my collecting," stated Mr. Ivy. "As any collector can attest, the time and energy spent forming a collection gives you an emotional bond to the items in the collection. While I will miss my Texas notes, my resources will be better spent pursuing Historical Texana. I'm pleased to share these pieces of Texas financial history with other members of the collecting fraternity, and hope they enjoy the same pride that I've had owning these notes." Mr. Ivy began collecting Texas National Bank Notes over 20 years ago, but only had a few representative samples until the Everson Collection was sold in 1997. "Since there were so many different notes available in that sale, I used that opportunity as the basis of a specialized collection of Texas Nationals. When the Irish Collection came along a year later, it was an added bonus, and I was able to purchase many otherwise unobtainable examples."

In forming his National Bank Note collection, Mr. Ivy sought examples from each issuing National Bank in the state of Texas, obtaining many early first and second charter rarities in the process. Quality was also a keen consideration for Mr. Ivy, and many of his notes are among the finest known for the issuing bank. According to Jason W. Bradford, Heritage's Currency Cataloger, "Mr. Ivy obviously left no stone unturned in his search for Texas Nationals, and the technical and aesthetic merits of the collection are evidence of his discerning eye. Many notes are unique, or are one of just two or three known examples, but the focus on quality was not compromised even for these rare specimens. High-grade notes, including several in Crisp Uncirculated condition, abound in the Texas Collection. Where the rarity of a particular issue necessitated the acquisition of a Fine or VF representative, Mr. Ivy was not satisfied until he found a solid, attractive example for the grade."

Continued Bradford: "One of the most important notes in the Texas Collection is the 1902 $10 Red Seal note from the Canyon National Bank of Canyon, TX. This note, a VF example, is the only known survivor from this bank. Also of interest is the VF 1875 $20 First Charter note from the City National Bank of Dallas, TX - representative of one of the earliest National Currency issues from a Texas bank. A personal favorite of mine, this note should excite all specialists in this field."

Other highlights from the Texas Collection include:
First National Bank of Celeste, TX, 1882 $20 Date Back, Fr-555, AU.
Red River National Bank of Clarksville, TX, 1882 $100 Date Back, Fine-VF.
First National Bank of Corsicana, TX, 1902 $100 Red Seal, VF.
First National Bank of Covington, TX, 1902 $10 Red Seal, VF.
First National Bank of Electra, TX, 1902 $20 Plain Back, VF-XF.
First National Bank of El Paso, TX, 1875 $10 First Charter, Fine.
South Texas National Bank of Houston, TX, 1882 $5 Brown Back, XF-AU.
Paris National Bank of Paris, TX, 1882 $5 Brown Back, Fine.
Angelina County National Bank of Lufkin, TX, 1882 $20 Brown Back, XF.
First National Bank of Mexia, TX, 1882 $50 Brown Back, VG.

Heritage's upcoming Florida United Numismatists Signature Sale is the official auction of the FUN convention. The auction will be conducted January 3-5, 2001, at the Orange County Convention Center in Orlando, Florida. For more details about this collection, or for information on consigning to our FUN Signature Sale, please contact the Heritage Consignor Hotline (1-800-872-6467 Ext. 222) or bids@heritagecoin.com. The consignment deadline for this sale is November 27. View the Texas Collection.