“I Promise to pay the Bearer on demand the Sum of …” those iconic words have been printed on British promissory notes and banknotes issued by the Bank of England since 1695. Established in 1694 by Royal Charter of King William III and Queen Mary II, these words are still taken seriously and the signature of the Chief Cashier which appears on every Bank of England banknote backs up this promise. That signature along with the text “For the Governor and Company of the Bank of England” also guarantees the validity and worth of these notes. To this day, all Bank of England banknotes issued by their authority are redeemable at their offices on Threadneedle Street.

On the 2^nd November 2011, the latest of those notes, the £50 denomination in the “F” series was placed into circulation with much media attention. It was the first time that two prominent persons would appear on the reverse as part of the overall design and only the third modern issue of this value since its withdrawal after the Second World War. On the occasion of the official release, I had the opportunity to discuss the new note with the Bank of England’s Chief Cashier, Chris Salmon who was appointed as Chief Cashier in April 2011 (actual title since 2004, Executive Director of Banking & Chief Cashier). He is the 31^st person to hold this position in the Bank’s 318 year history. The new £50 is the first to carry his signature (the other denominations will eventually follow) and since the introduction of the £20 denomination in the “F” series in 2007, the £50 note is the second note in what will eventually become a four note set.

I also had the chance during our conversation to touch on polymer notes and the option of a £100 note. It’s not likely that you will encounter one of these colorful notes in your daily lives outside of the UK, but if you do plan a visit  it would be to your benefit to familiarize yourself with the new look and state of the art security features of the £50 note including the clever motion thread application. The Bank’s latest issue continues to reassure the British public that their currency continues to be some of the safest banknotes in circulation world-wide.

Some collectors of British banknotes will be wondering about one specific question so I'll ask it on their behalf. What took so long for this latest note to be issued when it only took four years to issue all four denominations of the last series?

Chris Salmon, Photo credit: Michael Alexander

I think it's important to remember our objective, which is to maintain the physical integrity of the currency and we do that by making sure that our note designs remain up to date. In that respect, I'm very comfortable with the time frame between the launch of the £20 note in 2007 and with that of the £50 on November 2^nd (2011) and I think it fulfills that objective. The Bank of England just doesn't have the objective to launch a particular set of notes over a specific time frame—that isn't what we're seeking to do. If you think about the time when we launched the previous (E) series (issued from 1990 to 1994) and now, a number of things have changed since then. To begin with, it was easier then to launch a set of four notes closer together as the amount of notes in circulation was much smaller than it is today and the reach of cash-accepting technology was much less than it is now. We have to make sure that this technology can recognize the new designs, which adds further time to this process. If you go back further to the "D" series (issued from 1970 to 1981), which was in hindsight left in circulation a bit too long, the Bank needed to bring out a new set more quickly, which was also why the "E" series was completed as soon as it was.

Can you give a more concise time frame of when we can expect to see the next two denominations to complete the new “F” series?

Unfortunately, no. As I mentioned it's really not the Bank's overall objective to simply issue a series or set, it is to make sure we always have a set of notes in circulation which best supports our aims. We are actively thinking about the next note that we will issue and what security features it will include. We will reach that determination over a suitable time frame and when we reach it we will then make an announcement but I can't prejudge that yet.

As Chief Cashier, did you have any input in the design of the new Boulton/Watt note and if so, can you describe to our readers what it was?

The Chief Cashier does have an input on the design of a new banknote along with other stakeholders of the Bank, including the Governor, and the design team. I took up my post nine months ago when production had already started which meant that the final design had already been set, so I personally didn't have an input over the choice of design. But my predecessor, Andrew Bailey did have.

Are there any elements about the note which you particularly like? In a recent speech you mentioned the inclusion of the "motion thread" security feature, which is quite “state-of-the-art” as far as an added measure against counterfeiting is concerned.

I’ll answer that question in two ways.  First, I think the overall design which the new £50 note shares with the Adam Smith £20 designs, they “work well” as an overall banknote design. Specifically with the £50, I like the way the two personalities on the note come together. We are celebrating the collaboration between two people and how their work enhanced the value of each other—that's a novel feature of the note. In terms of the new security features and the motion thread you mentioned, that's a really important part of the note. It's a first for the Bank of England and although there is a "motion thread" on other notes around the world, ours is the first which has a switching motion that includes the pound sign and the numeral 50. As you can see when the note is moved from side to side it switches between these two images within the thread. This feature will enhance the security of the note and I hope the public will appreciate that in their currency.

Taking into consideration the current economic situation that the UK and many economies are facing at the moment, was there any thought of delaying the issue of this new note until the economic climate improved? Was it wise to issue the Bank of England's largest note value under these present circumstances?

No, we didn't consider delaying the issue of this note, I think that would have been quite wrong. Our job is to make sure that we have up-to-date notes in circulation and begin the process of introducing a new-style note and removing the existing style £50 note when we have developed the capability to do so.

There is a constant annual increase on the actual number of banknotes in circulation, but with the popularity of credit and debit cards, is this surprising to the Bank’s note supply section or is it due to specific conditions the public may not be aware of?

In very general terms, in recent years the value of all notes in circulation has increased in line with the increase in the economy. There has been a degree of boost to that growth rate in the past decade especially with the expansion of ATMs. Cash remains tremendously important... for instance, there were around 20 billion cash transactions last year representing £260 billion. That said, without doubt credit and debit cards have impacted how our cash is used. For example last year cash accounted for 60 per cent of all transactions, but if you go back to the figures for 2000 it was around 75 per cent. Nowadays, the majority of cash transactions involve amounts of £10 or less.

If I can focus attention on the smallest note in circulation here in the UK, there is a specific issue regarding the £5 denomination (US$7.75) I remember your predecessor mentioning to me four years ago that he had a stack of letters on his desk from the public commenting on the condition and quantity of £5 notes in circulation. Has this improved since the issue of the Adam Smith £20 note for instance?

At the risk of provoking a stack of letters such as those, I actually haven't received any letters regarding the condition of the £5 notes. I think that might be because the public know we are trying to address the problem by getting more £5 notes into circulation, which includes working with the major ATM networks but it’s too early to declare a success both in terms of the actual amount of £5 notes and their overall quality. We are taking the relevant steps to improve that situation which Andrew (Bailey) highlighted to you four years ago.

Staying with the £5 note, you have the chance here to clarify the Bank's position on polymer notes. There seems to be a world-wide trend to plastic banknotes certainly over the last ten years and there have been strong rumors about a £5 plastic Bank of England note. Is there a polymer note in the future for the British public?

Let me start by addressing the rumors and try to squash them. There are no plans to introduce a £5 polymer note contrary to previous stories in the media. At the same time, it's not something I would completely rule out forever and it would be wrong to do so. You're right, several countries have chosen to print polymer notes and I think it's incumbent on us within our general research and development program to look at both the merits and downsides which is something we're doing. We do this with a lot of banknote features and only a small number of features we look at in the research and development stage end up on our banknotes but as of today, there is no plan.

There are some who are for and against the introduction of a £100 denomination in England but the comparison is often made with Scotland and their £100 notes, which raises the question of why there isn't the same note value south of the Scottish border. Has the Bank of England arrived at a definite position for the issue of a £100 note specifically pertaining to the "F" series?

Again, it’s important to recognize that I cannot rule this out indefinitely.  But I am confident that the four denominations we already have in circulation are fit for purpose. Moreover when the majority of cash transactions as I mentioned earlier is less than £10, the case to introduce a larger denomination doesn’t seem to be there. Regarding our research and development program, contrasting your question on polymer, the development of a larger note is not something we’re looking at.

Lastly, aside from our interview, can you describe what else the Bank of England is doing to publicize the new £50 note to the public?

As you know, we're been trying to promote the note with a lot of interviews, TV, radio and a lot of printed information, not to mention all of the information available on our website. Between myself and Victoria Cleland (Head of the Note Security department) we've conducted over 20 interviews in the last two days of the launch of the note both national and regional.  Publications such as CoinUpdate.com also raise awareness internationally. We also have a dedicated education team who distribute information to around 70 trade associations and about 30 larger retailers & financial institutions around the country to raise awareness amongst their companies.

I hope ours was one of the more enjoyable interviews for you! As a dedicated banknote collector myself, I look forward to the next note in the latest series. Chris Salmon, Chief Cashier of the Bank of England, thank you very much for your time today on the occasion of the introduction of the new series “F” £50 note…

Thank you, it’s been a pleasure talking to you.

I would like to thank Ms. Rosey Jeffery and Ms. Sarah Morgan in the Bank of England Press office for their kind assistance and arranging my interview, it is greatly appreciated. In conjunction with the issue of the new note, the Bank of England Museum is hosting an exposition of the history of the £50 note which will include the very first series (Black & White notes) displayed to the most current note issued in 2011. The display will be open from the 24^th November to March 2012 and admission to the Museum is always free and definitely worth stopping by if you’re visiting London.

Chronology of Bank of England Banknotes

Since 1695, Bank of England promissory notes were issued as white paper notes. From 1795 and as an answer to a shortage of gold coin, standard banknote denominations of one, five, ten, twenty and fifty pound notes for circulation with higher values printed for transactions between banking institutions. They included intricate watermarking and in later years, a metal security thread and were issued by their offices in London and branches around the United Kingdom with these cities printed on the note. Hand signed by the chief cashier himself, the first notes were for odd amounts and also included the written name of the bearer. White notes were printed on one side only and were often uniform in size, the last notes issued measuring 212 / 133 mm (or 8.3 / 5.2 inches) These notes went almost unchanged in design until the introduction in 1928 of the first color notes using an engraved & offset printing process. The ten, twenty and fifty pound denominations were withdrawn from circulation after World War II and the last of the white £5 notes were issued by the Bank of England in 1955 and were replaced by the next color issue in 1957. A total of 21 post-war banknotes have been issued by the Bank of England consisting of six denominations, two of those values have since been withdrawn from general circulation.

“A” series Britannia seal issue

10 shillings (1928)
One pound (1928)

“B” series Helmeted Britannia issue

Five pounds (1957)

“C” series Royal portrait issue

10 shillings (1961)
One pound (1961)
Five pounds (1963)
Ten pounds (1964)

“D” series Pictorial issue

One pound (1978)
Five pounds (1971)
Ten pounds (1975)
Twenty pounds (1970)
Fifty pounds (1981)

“E” series Historical issue

Five pounds (1990)
Ten pounds (1992)
Twenty pounds (1991)
Fifty pounds (1994)

“E” series (revised reverse designs) Historical issue

Five pounds (2002)
Ten pounds (2000)
Twenty Pounds (1999)

“F” series 

Twenty Pounds (2007)
Fifty pounds (2011)

Related posts:

1. Bank of England Issues New £50 Banknote
2. New £50 Bank of England Note To Be Issued in November
3. Celebrated £1,000,000 Banknote Sold at Auction

This free event is open to the public and reservations are not required. Attendees of the event may exchange older series $1 notes for new notes or purchase uncut sheets/individual notes at the BEP's visitor center for signature. There will be a limit of two items per person for signature.

The BEP is located at 14th & C Streets, SW, Washington, DC 20228.

Rosie Rios was sworn in as the 43rd Treasurer of the United States on August 20, 2009. She has direct oversight over the US Mint, the Bureau of Engraving and Printing, and Fort Knox, and is a key liaison with the Federal Reserve.   In addition, she serves as a senior advisor to the Secretary of the Treasury in the areas of community development and public engagement.

Related posts:

1. What Happens When a Currency Fails?
2. Celebrated £1,000,000 Banknote Sold at Auction
3. US Mint Begins Accepting Orders for 2011 September 11 National Medals

The note features both Matthew Boulton (1728 – 1809) and James Watt (1736 – 1819) two prominent industrialists / inventors of the 18^th century credited with accelerating the progress of manufacturing steam engines. In addition there are two other illustrations included on the designs. The Whitbread Steam Engine is superimposed between and just below the two portraits and Matthew Boulton's Soho Manufactory can be seen behind in the background. Their inventions and improvements to this technology helped make a huge contribution to the progress of Britain’s Industrial Revolution. Two sets of serial numbers are located on the reverse with one set appearing vertically beside the portrait of Matthew Bolton.

On the obverse, the portrait of HM Queen Elizabeth II in use since 1990, is utilised on this latest series along with a deption of the building of the Bank of England located on Threadneedle Street positioned towards the centre. The new banknote includes the year “2010” on the reverse (the year of copyright) and retains the same dimensions (156 / 86 mm. or 6.14  / 3.38 in.) and a similar colour scheme as the presently circulating  “D” note series introduced in 1994. It is expected that both note types will circulate simultaneously until a date for the “D” series or “Houblon” note is recalled.

Security features include a watermark of the Queen’s image along with the numeral “50” just above her image. A metallic security thread which can be seen clearly when held up to the light, the thread is positioned just to the left of the Queen’s portrait when viewed from the obverse. An aligned printed application of the symbol “£” is found just to the right of the watermark field, when held up to the light on the notes obverse, the symbol is clearly visible. A new “Motion Thread” application is visible from the obverse which includes five green tinted windows woven into the paper along its length containing images of the “£” symbol and the numeral “50”. When the note is tilted from side to side, the images appear to be in motion, moving up and down. When the note is tilted up and down, the images move from side to side and the number 50 and £ symbol switch. Micro-lettering can be seen on the obverse just under the Queen’s portrait with the value of the note written in small letter and numbers.

It is expected that the remaining two denominations of the £5 and £10 notes will be updated and issued within the new “F” series in due course.

(Banknote images are kindly provided to the offices of LBMRC UK by the Media Centre of the Bank of England for the purpose of re-illustration.)

Related posts:

1. Interview with Chris Salmon, Chief Cashier of the Bank of England
2. New £50 Bank of England Note To Be Issued in November
3. Celebrated £1,000,000 Banknote Sold at Auction

The notes reverse will include the portraits of two prominent industrialists / inventors of the 18^th century, Matthew Boulton (1728 – 1809) and James Watt (1736 – 1819). It is the first time that two persons will be portrayed together on one side, the year of copyright is also visible on the reverse. Matthew Boulton and James Watt were responsible for accelerating the progress of manufacturing steam engines during the 18th and 19th century. Their inventions and improvements to this technology helped make a huge contribution to the progress of the Industrial Revolution.

The new banknote retains the same dimensions (156 / 86 mm) and a similar colour scheme as the presently circulating note and it is expected that both note types will circulate simultaneously until a date for the “D” series or “Houblon” note is announced recalling the 1994 dated issue.  Regardless of their legal tender status, all Bank of England notes are always redeemable at their offices for new notes.

On the obverse, the portrait of HM Queen Elizabeth II, in use since 1990, remains. Also prominent will be new and improved security features (yet to be announced). The reverse sees both portraits of Boulton and Watt, which are based on engravings from images held by the Bank of England. In addition there are two other illustrations included on the designs. The Whitbread Steam Engine, from the Timmins Collection (Reproduced with the permission of Birmingham Libraries & Archives) The second image is of Matthew Boulton's Soho Manufactory from the Phillp Album. (Reproduced with the permission of Birmingham Museums and Art Gallery)

Related posts:

1. Interview with Chris Salmon, Chief Cashier of the Bank of England
2. Russian Federation Commemorative Space Coin Issued
3. Bank of England Issues New £50 Banknote

The uni-faced note, which is believed to be one of only two in existence, is dated the 30th AUGUST 1948 with the serial number D 000007 and the signature of E E Bridges, then Secretary to the Treasury. The note was printed by the Bank of England printing works on their own standard white watermarked paper using green ink instead of the usual black print. The note was stamped “CANCELLED” on the 6th October 1948, which also included a hole punch over the signature. The note was graded as fine – extremely fine and categorised as extremely rare.

The One Million Pound note denomination, (worth more than US$4,000,000 when it was printed) is one of just a small quantity of high denominations printed for internal use, issued by the Treasury, and transferred to the Bank of England. The funds which these notes represented were part of the Marshall Aid plan initiated by the United States to assist with rebuilding the economies of war torn countries after the end of World War II in Europe, and as such, these funds were subject to strict accountability. The Treasury had borrowed funds from the Bank of England on a short term basis and to help with the book keeping, requested the printing of high value notes. The total order sent to The Bank of England’s printing works was Three Hundred Million Pounds in varying denominations, the smallest denominations being Twenty Five Thousand Pounds. It is believed that the entire issue was subsequently destroyed with the exception of numbers D 000007 and D 000008, each for One Million Pounds, which were presented to both the British and American Treasury Secretaries respectively after cancellation.

Related posts:

1. Interview with Chris Salmon, Chief Cashier of the Bank of England
2. Bank of England Issues New £50 Banknote
3. 25th anniversary of Accession to EU Celebrated on Spanish Collector Coins

"The interest and participation in the PCGS Currency Set Registry has exploded in the last year," stated Laura A. Kessler, Vice President of PCGS Currency and head of the Set Registry marketing efforts. "Participation has doubled in terms of both the number of participants and individual collections. There are some mind-blowing sets listed in the Registry, which makes selecting winners in each category extremely challenging."

Collectors are currently participating in more than 2,000 registered sets on the Set Registry.

"Not just top-level or wealthy collectors are participating," explained Kessler.  "We have a wide range of sets that appeal to many different types of collectors, from some world-class collections of high-end type notes and National Bank Notes, to the rapidly expanding competition in the Disney Dollar category."

The winners in each category for 2011 are:

Best Collection of the Year: "CCCurrency" -- Ron Foley.

"Each year we choose an overall winner with the most impressive array of collections across the entire spectrum of the Set Registry competition. This year’s winner exemplifies the Set Registry concept, as many of his sets were begun in years past but with continual additions and upgrades," said Kessler.  "Mr. Foley is a past Best Collection winner (2009), but his upgrades in his many sets are impressive. Competing in 82 different sets, the CCCurrency Collection is ranked first in an incredible 37 different categories. The majority of his sets are 100 percent complete, and all of his weighted grade point averages are 64 or above -- with most in the 68, 69, and 70 range!  We’'d like to thank Mr. Foley for his continued leadership in the Set Registry, and for providing competition to other members in so many different areas. Congratulations once again, Mr. Foley, for a well-deserved victory in our most important competition of the year."

Best New Set of 2011: "Vito Corleone (The Godfather)" -- Small Size Silver Certificate Type Set.

"With more than 1,000 new sets in the PCGS Currency Set Registry since last year, this was one of the most difficult winners for our judges to choose. So many new sets are impressive in so many ways, and pinning down one outstanding set was a daunting task.  After much debate, this set continued to impress our judges every time it was reviewed," explained Kessler.  "While consisting of just nine notes, this is a difficult set to complete in high grade as the 1933 $10 is always a 'stopper.' This set includes a Gem New 65PPQ example of that scarce series, which is currently a 'pop 2' with only one note finer. Of the other eight notes in this set, three others are “top pop” for their respective types. The remaining five notes are superlative representatives of their types with only one or two known finer examples. The weighted GPA of 69.1 is theoretically improvable, but what a start for a new set!"

Best Large Size Type Notes: "Gopher State Collection" -- $1-$20 Large Size Denomination Set.

"This is a difficult set that includes 96 different notes, comprising the wide variety of different large size design types of $1, $2, $5, $10, and $20 notes issued by the U.S. government between 1861 and 1928. The “Gopher State Collection” is by far the most complete collection in this category, and in fact is missing just three notes -- all of which can be considered rare types, the 1861 $20 Demand Note, the 1863 $20 Interest Bearing Note, and the $20 National Gold Bank Note. The weighted GPA of 46.2 on this collection is not stratospheric (and in fact could be improved upon), but the staggering nature of this collection and its completeness is enough to demonstrate this set’s world-class nature," said Kessler.  "This collector is also a past winner with other sets, but this large size type note collection continues to grow and improve. The Gopher State Collection will only continue to be highly competitive in years to come as those rarer notes are added and as he continues to upgrade his other type notes."

Best Small Size Type Notes: "SDCSD" -- Kraig Tripp -- $5 Silver Certificate Set 1934-1953B with Varieties.

"Mr. Tripp's complete $5 Silver Certificate set with major varieties is impressive in the extreme -- of the 16 notes needed for this set, the SDCSD set includes 13 'top pops' with no notes of each series and/or variety graded finer! His GPA of 62.417 is virtually unbeatable in this set, as the 1934A $5 Fr. 1651 Late Finished Face Plate 307 is unheard of in high grades (Kraig's is a VF 20PPQ)," Kessler pointed out.  "To say that this collector is a $5 Silver aficionado is an understatement.  This collection ranks as one of the finest sets of $5 Silver Certificates ever assembled, and Mr. Tripp's continuous upgrading efforts will likely make beating this set improbable for years to come."

Best Modern Small Size Type Notes: "The Skourtes Collection" --Michael Skourtes -- 1976-2003A Complete $2 FRN Block Set.

"Mr. Skourtes is a repeat winner in this category, this year with his $2 FRN Block Set," said Kessler.  "His set GPA rating of 69.32 is out of an overall possible set rating of 70.30, and out of a total of 99 notes required for this set, more than half(!) are 'top pop' with no notes graded finer. Collecting 'modern' notes is a pursuit that is growing by leaps and bounds (see the fierce competition in the $1 Fed sets), and we expect that, as new sets are created in this category, that sets like Michael's will continue to be those that other participants will strive to duplicate -- and to beat!"

Best National Bank Notes: "Godot" -- Dr. Andrew Shiva -- First Charter National Bank Note State Set.

"While this category was only added late last year before the 2010 awards, competition has heated up with new sets being added every month. Dr. Shiva has a plethora of fantastic National Bank Note sets, however the sheer magnificence of this set wins it top honors this year," said Kessler.  "This is the first 'complete' set ever assembled by any collector of  the 45 first charter notes from the 44 states and DC that issued them, including a partial note from Mississippi -- the only piece of a First Charter note ever heard of from this state. Grade is hardly important here, but many high grade pieces are included. Several unique notes and incredible rarities are also present, and National collectors of all stripes are encouraged to study this set as it is an impressive feat in every respect. Hard to beat, this set will undoubtedly inspire other Set Registry participants in the future."

Best Fractional Notes: "CCCurrency" -- Ron Foley -- Fractional Currency 24-Piece Design Set.

"For the third year in a row, Mr. Foley takes top honors in the Fractional Currency Category with his 24-piece design set. When Mr. Foley won this category last year, we stated in our press release that a better fractional set would be difficult to imagine. Ron did not rest on his laurels -- his weighted GPS improved by three-tenths of a point to 68.15 out of a theoretically possible 68.963 with his upgrade," said Kessler.  "This is one of the most popular Set Registry sets, and with more and more collectors attempting to complete this challenging yet obtainable set it will be increasingly difficult to catch Ron -- although several other collectors are close behind!"

Best Military Payment Certificates: "Stars & Stripes Collection" -- Jeff Smith -- Military Payment Certificates Complete Set.

"This is our first and only four-time winning set, and once again the choice was easy.  Jeff Smith won or tied in all but one of the sets in the MPC category. His complete collection was improved upon once again this year with several upgrades, as his weighted GPA rose to 65.98 out of a possible 67.998," explained Kessler.  "His set includes many 'top pop' notes and some great rarities. While the competition was much more interesting this year as a couple of notable sets are beginning to challenge that of Mr. Smith's, he continues to excel in adding to his impressive collection with more upgrades and it will be a challenge for any collector to trump this collection.":

Best "Low Ball" Set: "Cliff's Incredibly Low Large Size Design Set" -- Cliff Andrews -- $1 Large Size Design Low Ball Set.

"Mr. Andrews is a four-time winner (or loser, depending on how you look at it) in this category, and while we didn't think he could do any worse than last year he proved us wrong," Kessler joked.  "This category always takes a bit of reverse logic to comprehend, as the idea here is to locate and acquire the worst possible examples of each type, although bonus points are given for notes that are not graded 'Apparent' with damage or repairs out of context with the assigned grade. This is not as easy a task as it may seem, as so many low grade notes were destroyed as they were worn out and removed from circulation. Cliff once again outdid himself this year, as he reduced his weighted GPA from 3.298 to just 2.87! Even more impressive is the fact that it would be nearly impossible to 'improve' this set.  His overall set rating of 68.13 is out of a possible 68.447 points! Nobody has more fun with the Set Registry than Cliff, and his enthusiasm is contagious.  We challenge anyone (including Mr. Andrews) to, er, “'outdo' this set and improve upon his record of futility."

Best Block Set: "mfontes" -- Mark Fontes -- 1957B $1 Silver Certificate Block Set QA - *B.

"Mr. Fontes won this category last year with his '57A set, and this set is even more impressive in its completeness and grade point average. His incredible overall set rating of 70.0 is just below theoretically possible top rating of 71.706. Block sets will undoubtedly continue to be one of the fastest growing areas of the Set Registry, especially as new sets are introduced, and the popularity of this specialized area of collecting cannot be underestimated," said Kessler.  "With so many possibilities, and with the exciting concept of challenging sets from 'common' series that can be completed even with limited funds in the highest grades, get ready for the future of Block set collecting!"

Best "Exonumia" Set: "High Grade Rarities Collection" -- Mark Green -- Columbian Expo Admission Tickets and Special Day Passes.

"Columbian Expo tickets and related items have always had a close connection with currency collecting, so it's fitting that this year's winner comes from this previously oft-neglected category which is coming into its own in terms of popularity and importance. No words can describe this collection better than the simple stats: 15 of the 16 tickets are 'top pop;' nine of the 16 are population 1 with none finer. In fact, only one single graded ticket exists that would improve this set. These types of statistics are what the Set Registry concept is all about," said Kessler.

The First Ever Hall of Fame Collection Entry: "SDCSD" -- Kraig Tripp -- Small Size $5 Silver Certificate Type Set.

"For the first time ever, PCGS Currency is recognizing an outstanding set with entry in the Set Registry Hall of Fame. Kraig Tripp's Small Size $5 Silver Certificate type set is virtually unbeatable, with every single note a 'top pop' for its Friedberg number. The overall weighted grade point average of this set of 70.077 is out of a theoretically possible 70.231," Kessler explained.

"Mr. Tripp's award-winning set has won past accolades in the Small Size category, and his domination of the $5 Silver Certificate categories is legendary.  Some of his other sets in this same exact category rank in second, third, and fifth place. The PCGS Currency Set Registry Hall of Fame is reserved for those sets that exemplify the Set Registry concept.  The combination of completion and the highest grades possible, with the fun and competition that completing these sets engenders with all collectors. This collection meets all these criteria, and will be a benchmark for future Hall of Fame entries in the future."

In addition to the awards listed above, the owners of 181 different sets receives "Best of the Registry" certificates awarded to collections that are ranked first in each category and are more than 75 percent complete.

Now in its fourth year, Tthe PCGS Currency Set Registry is an online competition that allows participants to compete with other collectors in numerous defined sets, ranging from Large and Small U.S. Type, Fractionals, MPCs, serial number block sets, and exonumia such as Disney Dollars and Columbian Expo Tickets.

PCGS Currency may be contacted at (309) 222-8200 or at info@PCGSCurrency.com.

Related posts:

1. US Treasurer Rosie Rios to Sign Currency at BEP
2. PCGS Announces New Services
3. Lansing Radio Program Earns National Award

The app uses image recognition technology to determine a note's denomination. The mobile device’s camera requires 51 percent of a note’s scanned image, front or back, to process.  In a matter of seconds, EyeNote™ provides an audible or vibrating response, and can denominate all Federal Reserve notes issued since 1996.

EyeNote™ is available starting today through the Apple iTunes App Store. Free downloads will be available whenever new US currency designs are introduced.

The EyeNote^TM app is one of a variety of measures the government is working to deploy to assist the visually impaired community to denominate currency, as proposed in a recent Federal Register notice.  These measures include implementing a Currency Reader Program whereby a United States resident, who is blind or visually impaired, may obtain a coupon that can be applied toward the purchase of a device to denominate United States currency; continuing to add large high contrast numerals and different background colors to redesigned currency; and, raised tactile features may be added to redesigned currency, which would provide users with a means of identifying each denomination via touch.

More information is available at www.eyenote.gov or through email at eyenote@bep.gov.

Related posts:

1. US Treasurer Rosie Rios to Sign Currency at BEP
2. United States Mint Launches Vicksburg Quarter
3. PCGS Currency Announces Registry Set Award Winners

Treasurer Rios will sign currency on a first-come, first serve basis between 10:00 AM and 11:45 AM. The event is open and free to the public, with no reservations required. Older notes can be exchanged for new notes.

The BEP is located at 14th & C Streets, SW, Washington, DC.

Rosie Rios was sworn in as the 43^rd Treasurer of the United States on August 20, 2009.  All Series 2009 currency bears her signature.   She advises Secretary Timothy Geithner on matters relating to coinage, currency and the production of other instruments by the United States.  In addition, Treasurer Rios serves as a senior advisor and representative of the Treasury on behalf of the Secretary in the areas of community development and public engagement.

Related posts:

1. US Treasurer Rosie Rios to Sign Currency at BEP
2. US Mint Begins Accepting Orders for 2011 September 11 National Medals
3. PCGS Currency Announces Registry Set Award Winners

"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.

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.  He 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
• 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 nicknamed ""The Fullerton Boulder" 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.”

"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 50^th 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.

Photo credits: Lyle Engelson for Ira & Larry Goldberg Coins & Collectibles

Related posts:

1. New £50 Bank of England Note To Be Issued in November
2. Celebrated £1,000,000 Banknote Sold at Auction
3. Notes from Bulgaria

The front of the note features an enlarged portrait of Benjamin Franklin and an image of a quill and inkwell to the right of the portrait. Phrases from the Declaration of Independence are also included.

The back of the note includes a new vignette of Independence Hall, showing the rear of the building is shown, rather than the front. A large gold numeral 100 appears on the back of the note. According to the government's website, this will make it easier for the visually impaired to distinguish the denomination.

Two new advanced security features have been incorporated into the new design. First, a 3-D Security Ribbon containing images of bells and 100's is woven into the paper. When the note is tilted back and forth, bells will change to 100's as they move. Second, a color shifting bell appears within the inkwell on the front of the note. The Bell in the Inkwell will change from copper to green as the note is titled, giving the appearance of appearing and disappearing within the copper colored inkwell.

The three security features from the previous design have been retained within the new design. This includes the watermark portrait of Benjamin Franklin, the security thread, and the color shifting numeral 100.

"The new security features announced today come after more than a decade of research and development to protect our currency from counterfeiting," said Treasurer of the United States Rosie Rios. "To ensure a seamless introduction of the new $100 note into the financial system, we will continue global public education of retailers, financial institutions and industry organizations to ensure that consumers and merchants are aware of the new security features."

The new $100 notes will be released in February 2011. Notes bearing the older design will continue to be legal tender and do not need to be exchanged for new notes. According to a statement from Chairman of the Federal Reserve Board Ben Bernanke, there are approximately 6.5 billion old design $100 notes currently in circulation.

Detailed information about the redesigned note can be found at www.newmoney.gov.

A video for the $100 Note unveiling is also available and has been embedded below.

Related posts:

1. Bank of England Issues New £50 Banknote
2. 2012 Gold Sovereign Features New Rendition of St. George Slaying the Dragon
3. New £50 Bank of England Note To Be Issued in November