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Auction: 9USA - Schingoethe Obsolete Currency Collection Part 15
Lot: 805

UT. Great Salt Lake City. Printed VAlley Note. 25c. March 28, 1849. (Rust 76). Unissued remainder. As Rust points out, "None of the 25c notes were signed, so it is doubtful they were ever used. Since they apparently did not circulate, all of the 25c notes are in new condition". Uncirculated. ($300-600) As mentioned previously, because these notes were backed 80% by the gold dust in the treasury, as were the handwritten valley notes, the countersigned and reissued Kirtland Safety Society notes, they were called "treasury notes". All of these notes would have made it possible to make larger purchases. The notes were more convenient, and all three types were readily accepted throughout the valley. When gold coin mining was resumed in September 1849, these notes were redeemed in coin and destroyed. Every effort was made to burn the notes as soon as they were redeemed, which seems to indicate that Brigham Young and the other Mormon Church leaders had little faith in paper substitutes for gold and silver coin. As a result, these Valley notes tend to be fairly scarce -- an ironic and "golden" opportunity for the collector to obtain these rare "Treasury Notes." Estimate US$ 300-600

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