COLLECTING LARGE SIZE NOTES BY SIGNATURE COMBINATION ” BISON”

I have covered this subject several times in the past with different type notes. This time I am going to write about one of the most interesting and popular type notes “The Bison”.

The Bison note was based on a design by Ostrander Smith, on a sketch by Charles Knight. The engraver was M.W. Baldwin, and the portraits of Lewis and Clark were engraved by one of the greatest engraver’s of his time G.F.C. Smillie, who engraved other master pieces including, the $5.00 Educational Note and the $5.00 Indian Chief, just to name a few.

The Bison note might have been designed to stimulate interest in the Lewis and Clark Centennial Exposition in 1905.

This design of the buffalo was very catchy, and it also appeared on a 1923, 30 cent stamp, and on the $1.00 Military Payment Certificate, series 692. There has been some dispute as to whether this Bison was Black Diamond: the Bison on the back of the Indian Head Nickel or Pablo a Bison that resided at the Washington Zoo at that time. The female figure on the reverse represents Columbia standing between the two pillar scrolls.

These notes were printed with the series of 1901 on it, and were printed from the year 1901, to 1927 with Friedberg Number 114 through Friedberg Number 122. It was the norm to use the same series date on notes even though they were printed in different years.

To narrow down the actual date: you would need to reference the time the Register of the Treasury or (Secretary of the Treasury) and the Treasurer of the United States were in office together. The dates they were in office, would narrow down the year or years when the note was actually printed. The different signature combinations would have specific Friedberg Numbers assigned.

The total of Friedberg Numbers issued for this popular series was 9 (Fr. 114 to Fr. 122) with a total printing of 243,959,000 notes. Even though there were almost 244 million notes printed, there are only 1618 notes known in all grades according to U.S. Paper Money Records by Martin T. Gengerke’s Census as of March 2005. The census is a must for all dealers and collectors.

Please refer to the chart which is broken down by Friedberg Numbers, which shows the amount of notes printed, total known, in both circulated and uncirculated condition. You may be surprised by the small amounts of notes that have survived. In retrospect this is exactly what makes Paper Money much scarcer than coins.

After carefully looking at the figures on the chart, you will come quickly to the conclusion that a very small fraction of the notes printed have survived, only 1618 of 243,959.000 notes printed. That makes it only about 7 of every one million notes printed has survived, that is very little.

Collecting by Friedberg Numbers, or signature combination, makes it quite challenging. As you can see, not many complete uncirculated sets of different signature combination; (Friedberg numbers) can be assembled for the Bison note. There are only 4 uncirculated notes known for the scarcer Bison Friedberg number 117. Because 1 of the uncirculated notes is in the Federal Reserve Bank, only 3 complete Friedberg number sets can be assembled in uncirculated condition.

Including circulated examples, only a total of 34 complete set are possible, as 6 of the 40 total Friedberg Number 117 notes known are impounded in the Federal Reserve Banks or other institutions.

Assembling a complete circulated set of Bison notes may take years if lucky. If you are up to the challenge of putting together an uncirculated set then who knows how long it may take if ever…

As the collector base continues to grow it will become a greater and even more challenging accomplishment to complete any Bison notes set. The demand will in return be largely affecting the pricing and collectors willingness to obtain said notes. I believe to the best of my knowledge that GEM Bison notes at the moment are at their highest cost level ever with no foreseen signs of cooling off.

Collecting type notes of any type is lots of fun. Some are more difficult than others, but regardless of which one you choose, it will be full of excitement and a wonderful learning experience as you go along.

I have covered in this article the history of the Bison note and its design, rarities by their Friedberg Numbers, amount of notes printed with numbers known for circulated and uncirculated of each Friedberg Number, and the task that it can take of completing a complete Friedberg set of Bison notes.

Hope this information will help you in your quest to complete your Bison type set.

Happy hunting!