Extremely Rare Issued Note from Pictou, Nova ScotiaPictou, NS - Pictou Bank $5 Jan. 2, 1874 Ch. # 595-10-04
An excessively rare issued note from this obscure and short-lived Nova Scotia institution. Opening in 1873, according to Charlton, this bank's primary accounts were with a local tannery. The tannery suffered a series of losses in the 1880s, precipitating the bank's failure in 1887. While the depositors were made whole, the shareholders of the bank lost a total of $163,970. Several years ago, we offered a remainder sheet from here, but this is the first issued note that has managed to grace one of our auctions. While tonight's offering has a few small edge splits and tears, it still retains nice color and an overall pleasing appearance, and it presents a great opportunity for the many collectors of Canadian Chartered Bank Notes to add a very tough bank to their holdings. PCGS Apparent Very Good 10.
Estimate: $4,000 - $6,000.
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