Portland Clearinghouse note

Discussion in 'Paper Money' started by Teddydogno1, Feb 1, 2015.

  1. Teddydogno1

    Teddydogno1 Well-Known Member

    A dealer at a local show has this note. It is supposedly very rare with only a couple of known examples. This graded note (20) is offered at $550 IIRC. Portland is somewhat local and the lion is just awesome. I think it is dated 1907 (hard to read in this pic).

    portland_clearing_note_small.jpg

    The crummy pic was taken with the owner's permission through his case.

    Any thoughts on this note are welcome, including confirmation of rarity, value and desirability.

    Rob
     
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  3. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Have you checked previous sales on HA, Stack's or eBay?

    Chris
     
  4. Teddydogno1

    Teddydogno1 Well-Known Member

    Thanks. I have now (via Google) and not found much of this series. Most I have found are either ungraded or canceled or both. One sold on HA last year for about $145 and it looks pretty nice in the photos. And a set of $1, $2 and $10 sold for $455 in 2004, but were ungraded, canceled and/or rough.

    Any firsthand knowledge is also still welcome. Thanks.

    Rob
     
  5. lettow

    lettow Senior Member

    It is a piece of 1907 Panic Scrip. The newly released Shafer catalog values it at $100.00/VG $225.00/VF for the uncancelled variety.

    One in lesser condition has been for sale on Ebay forever on a BIN at $199.00.

    What is wrong with an ungraded note?
     
  6. Teddydogno1

    Teddydogno1 Well-Known Member

    Nothing wrong with an ungraded note. Just trying to determine if this is as rare/scarce as the dealer says and what the true value is. Seems to me like maybe he has overvalued this note substantially (though it does appear to be much nicer than the one on eBay).

    Rob
     
  7. gsalexan

    gsalexan Intaglio aficionado

    Nice note! I live in Portland and that's one I'd never seen. The lion looks familiar -- American Bank Note?
     
  8. lettow

    lettow Senior Member

    The Irwin - Hudson Company, Portland.
     
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