AUBURN - What would you do for $50?
An 1891 treasury note featuring a portrait of William H. Seward recently fetched $475,000 at auction. One of the city's most famous names, Seward served as Secretary of State under President Abraham Lincoln.
His valuable likeness graces the rare bill, only 22 of which are known to exist. Of 80,000 printed, 23,500 were issued more than a century ago.
But, in addition to its rarity, the note that sold June 13 is in exceptional shape, according to the Web site of the Kansas-based Lyn Knight Currency Auctions.
“This is the finest Seward note in existence among private collectors today,” auctioneer Lyn Knight wrote in the online description.
The bill's low serial number and quality give the bill its value, he said when reached for comment.
“This is definitely a rarity for us, we see Seward things come up occasionally, but never something quite this extraordinary,” said Seward House Executive Director Peter Wisbey, who received the tip the bill was up for auction from a museum member. “These are things you never see in the cash register, these are collector quality.”
It's far more common to see letters and other documents featuring the Seward signature appear on auction Web sites like eBay, he said. Occasionally a piece of furniture or another item owned by Seward might pop up.
“Those are things that turn up much more frequently,” Wisbey said.
The Seward House assists about 10 people a year with identifying and documenting Seward memorabilia. Though administrators knew the bills existed, they have never verified nor possessed one.
“No, we definitely don't have one,” Wisbey said with a chuckle.
Born in Florida, N.Y., in 1801, Seward moved to Auburn in 1823 and later died at his home, now the Seward House, in 1872.
“It is kind of interesting to see that Seward's picture appears on a treasury note some 20 years after his death,” Wisbey said.
His reputation for negotiating the purchase of Alaska, initially known as “Seward's Folly,” was changing around that time because the strong fish and timber industries as well as gold discoveries.
And as evidenced by the recent auction, “He still commands a presence,” Wisbey said.
Staff writer Shane Liebler can be reached at 253-5311 ext. 248 or shane.liebler@lee.net
His valuable likeness graces the rare bill, only 22 of which are known to exist. Of 80,000 printed, 23,500 were issued more than a century ago.
But, in addition to its rarity, the note that sold June 13 is in exceptional shape, according to the Web site of the Kansas-based Lyn Knight Currency Auctions.
“This is the finest Seward note in existence among private collectors today,” auctioneer Lyn Knight wrote in the online description.
The bill's low serial number and quality give the bill its value, he said when reached for comment.
“This is definitely a rarity for us, we see Seward things come up occasionally, but never something quite this extraordinary,” said Seward House Executive Director Peter Wisbey, who received the tip the bill was up for auction from a museum member. “These are things you never see in the cash register, these are collector quality.”
It's far more common to see letters and other documents featuring the Seward signature appear on auction Web sites like eBay, he said. Occasionally a piece of furniture or another item owned by Seward might pop up.
“Those are things that turn up much more frequently,” Wisbey said.
The Seward House assists about 10 people a year with identifying and documenting Seward memorabilia. Though administrators knew the bills existed, they have never verified nor possessed one.
“No, we definitely don't have one,” Wisbey said with a chuckle.
Born in Florida, N.Y., in 1801, Seward moved to Auburn in 1823 and later died at his home, now the Seward House, in 1872.
“It is kind of interesting to see that Seward's picture appears on a treasury note some 20 years after his death,” Wisbey said.
His reputation for negotiating the purchase of Alaska, initially known as “Seward's Folly,” was changing around that time because the strong fish and timber industries as well as gold discoveries.
And as evidenced by the recent auction, “He still commands a presence,” Wisbey said.
Staff writer Shane Liebler can be reached at 253-5311 ext. 248 or shane.liebler@lee.net
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