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Nephi, UT - $5 1902 Red Seal Fr. 589 The Nephi NB Ch. # (P)8508. ...
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Sold on Jun 19, 2010 for:
$63,250.00
Bid Source: Live: Floor bidder
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Description
Newly Discovered Finest Known Utah Red Seal
Nephi, UT - $5 1902 Red Seal Fr. 589 The Nephi NB Ch. # (P)8508For decades, Utah has represented the holy grail for collectors of Red Seal National Bank Notes, the ultimate stopping point for those individuals intrepid enough to attempt to collect a set of Red Seals from every State and Territory which issued such notes. While in theory possibly save for examples from Hawaii, which is as yet unreported, a Red Seal from Utah for many years was just about as impossible to obtain, with the four reported specimens all having either disappeared from the marketplace years ago or held in collections that were so long term as to make their appearance unlikely in the extreme. One, in fact, has long resided on the walls of the Higgins Museum in Okoboji, Iowa. Three of the four pieces listed in the Kelly census come from two different Ogden banks, with the fourth, which grades only "Good," from Murray. Two of the three Ogden pieces grade Very Good and Fine, respectively, while the other Ogden note also grades Fine. Reportedly, all three of the notes in private hands are now held by one collector, with only two ever having traded publicly, one in 2002, when an Ogden example from Richard Dreger's collection grading Very Good with brown staining on the front and a tape repaired split realized $66,700 and one in 2006 when the note long owned by Peter Huntoon on the Utah NB of Ogden grading Fine crossed the auction block at an identical figure. The note we offer tonight is newly discovered and presented here for the first time. It is easily the finest of the now five extant Utah Red Seals, having been graded Very Fine 20 by PMG, displaying a bright red overprint, sharp pen signatures, and plenty of eye appeal for the grade. It is the only Utah Red Seal from a truly small town, and is certain to become a centerpiece of the collection it enters this evening. Any estimate here is simply a surmise, as there is only one Nephi Red Seal and only one finest known Utah Red Seal, but rarity, desirability and grade provide the combination likely to lift this note to the level of...
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Auction Info
2010 June Memphis, TN Signature Currency Auction #3510 (go to Auction Home page)
Auction Dates
June, 2010
17th-21st
Thursday-Monday
Bids + Registered Phone Bidders: 1
Lot Tracking Activity: N/A
Page Views: 2,217
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