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Lot
18203

Reno, NV - $20 1902 Red Seal Fr. 641 The Nixon NB Ch. # (P)8424. ...

2012 January Signature FUN Currency Auction #3516

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Auction Ended On: Jan 7, 2012
Item Activity: 1 Internet/mail/phone bidders Number of Bidders
2,532 page views
Location: Orange County Convention Center
North/South Building
9899 Universal Blvd.
Hall SB - South Building
Orlando, FL 32819

Description:
The Finest of Three Known $20 Nevada Red Seals
Reno, NV - $20 1902 Red Seal Fr. 641 The Nixon NB Ch. # (P)8424
By far the greatest note to emerge from the Platte River Cash Hoard, and a reminder that significant rarities are still awaiting discovery even a century after their issue. A mere fourteen Red Seals have been reported from all banks in the state combined, with the Nixon NB accounting for five of that total, with the distribution three tens, two twenties, and a single hundred. The Kelly census reports the grades of the two twenties as "Good-Very Good" and "Very Good" respectively, making this new to the census and far superior specimen even more significant. This note bears the signature of one of Nevada's legendary early bankers, George S. Nixon, who signs as President. Nixon started his banking career in Winnemucca, where he and his associate F.M. Lee (who signs this note as the bank's Cashier) organized the First National Bank in 1886. Nixon served as President of that bank until 1906, when he moved to Reno and founded the Nixon NB, serving as President of that institution until his death in 1912. Along the way he found time to enter into a partnership with George Wingfield (who later served as President of this bank, which was renamed the Reno NB in 1915) in several mining ventures as well as serving a one of Nevada's two United States Senators from his election in 1905 until his passing in 1912.
All of the known Nevada Red Seals have been closely held for many years, with Track & Price showing no offerings of any such example at public sale during the past fifteen years. This piece, which displays a sharp red overprint and comes in a comment free PCGS Very Fine 20 holder, offers a rare opportunity which has not been available to even the most advanced of collectors in well over a decade. It would not surprise us at all if this wonderful new discovery, which is by far the finest of the now three extant $20 Red Seals from the entire state, easily reaches the six figure level before the hammer falls this evening.
From The Platte River Cash Hoard

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