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    Magnificent Fr. 1157 Petaluma $20 National Gold Bank Note
    Considered the Finest Known $20 National Gold Bank Note

    Petaluma, CA - $20 1875 Fr. 1157 The First National Gold Bank of Petaluma Ch. # 2193 PMG Choice Extremely Fine 45.
    A magnificent example and certainly among the most important notes in the entire Mike Coltrane Collection. It is considered to be in the finest condition of any $20 National Gold Bank Note. The desirable Petaluma location adds to its allure. In addition to its spectacular condition, rarity, and beauty, it also boasts a regal pedigree back to 1953.

    Any note from this charter number is a significant offering. Most are National Gold Bank Notes, but lower denominations in lesser grades. This is an exceedingly rare denomination from the bank. It is one of two Series 1875 $20 National Gold Bank Notes confirmed from the title, both of which were part of Mike's collection. We sold his white paper $20 in the first sale for $21,600 in a PCGS Very Good 8 encapsulation. The bank did not issue original series $20 notes and emitted only 363 $20 Series 1875 examples. It is a miracle of survival that any high face-value notes exist.

    Printed on luminous, golden tinted paper with engraved black printing as used on other $20 First Charter design faces. At the left is The Battle of Lexington, adapted from Theodore Lishler's painting and engraved by Joseph I. Pease. Loyalty, at the right, was engraved by Alfred Jones. In vivid red, the treasury seal, charter number 2193, and SERIES 1875 add contrast. Bank signatures are boldly accomplished. Within the brown frame on the back, the swirling arrangement of coins is strikingly lifelike. The 1871 double eagle obverse is front and center, with its top edge just peeking out of the frame for a three-dimensional effect: a tour de force exhibiting the engraver's talent.

    Plate position A, serial 57/D241829. Fully framed on the face including wider margins at the sides. The back has complete margins, but close at the bottom. The color on both sides is exceptional, and the note has a Choice Uncirculated appeal. Ex: Stack's Bowers, August 2018 Joel R. Anderson Part III sale, lot 2069 (realized $228,000); Joel R. Anderson; Lyn Knight, June 2007 sale, lot 95; Lyn Knight, February 2003 sale, lot 2126; Amon Carter; B. Max Mehl, 1953. The appearance of higher-denomination Petaluma National Gold Bank Notes always attracts attention. We sold one of the two known $100 examples for $97,750 in the 2005 O'Neal sale; that rarity, graded PCGS Apparent Very Good 8, more recently realized $246,750 in our May 2017 offering of the Eureka Collection. Eagerly sought after when last cataloged and sold, and the next owner will possess one the great prizes in American currency.
    From The Mike Coltrane Collection.




    Auction Info

    Auction Dates
    June, 2021
    24th-25th Thursday-Friday
    Bids + Registered Phone Bidders: 28
    Lot Tracking Activity: N/A
    Page Views: 1,565

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