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Rushmore, MN - $20 1902 Red Seal Fr. 639 The First NB Ch. # (M)6862. ...
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Sold on Apr 26, 2018 for:
$18,000.00
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Description
Unique for Town and Bank
Rushmore, MN - $20 1902 Red Seal Fr. 639 The First NB Ch. # (M)6862Unquestionably one of the highlights of this wonderful collection of Minnesota Nationals that we are offering this evening. This pretty note is the sole example known from the only note-issuing charter in this obscure Nobles County locale. Opening in 1903, this bank issued Third Charter notes only before it liquidated in 1926 and elected to be absorbed by a local state-chartered institution. At the time of its closure, this charter had issued less than 1,300 sheets of notes issued over its 23-year existence and had a mere $6,250 outstanding making tonight's offering a true miracle of survival. Fortunately, it is also a most attractive specimen with excellent color and the bold pen signatures of Geo. Innes, the president and W. C. Thorn, the cashier. PMG has mentioned the presence of an internal tear but any such tear cannot be discerned through the holder even after careful scrutiny but, either way, any such impairment does not affect the rarity and desirability of this great $20 Red Seal. This unique piece has had one prior public appearance - it fetched a strong $36,800 in the dispersal of the Mort and Richard Melamed collection in 2010. With the appreciation in today's market for rare and attractive "trophy notes," we would not be surprised to see that realization approached again. PMG Very Fine 30.
From the Bill Gale Collection of Minnesota Nationals
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Auction Info
2018 April 25 - May 1 CSNS Currency Signature Auction - Chicago #3563 (go to Auction Home page)
Auction Dates
Apr-May, 2018
25th-1st
Wednesday-Tuesday
Bids + Registered Phone Bidders: 1
Lot Tracking Activity: N/A
Page Views: 894
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20% of the successful bid per lot.
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