Lyons, IA - $2 Original Fr. 387 The First NB Ch. # 66. ...

Description

Lyons, IA - $2 Original Fr. 387 The First NB Ch. # 66
A real rarity, as this is one of only four notes known from the original charter 66 bank, which issued First Charter examples only before liquidating in 1882. This liquidation was not due to a business failure, but rather uncertainty over whether National Banks could retain and renew their already existing charters or would have to apply for and receive a new charter. By the time Congress acted to allow charter renewals, many of the first 100 banks chartered had voluntarily liquidated and applied for new charters so as to continue operating legally, a method followed by this institution, which was rechartered under new charter number 2733. Another change in the law many years later allowed banks which had re-chartered under higher charter numbers to apply for permission to re-take their earlier lower charter number, which is what this bank did in 1911. This example is the only Lazy Deuce known from Lyons, and, while hardly high grade, deserves a place of honor in any collection of Iowa or low charter notes. PCGS Apparent Very Good 8, with some minor edge restorations and a restored corner.
From the Dr. Larry Miller Collection

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