Sausalito, CA - $5 1902 Plain Back Fr. 609 The First National Bank Ch. # 12453 PMG Fine 12 Net. This great Califo...
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Consign your material to be auctioned alongside these items on Wednesday, January 14, 2026 in Dallas, TX. Consignment Deadline for this auction is Monday, November 24, 2025.
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Description
Very Rare Sausalito, CA Note with a Purported "Misspelled" Town Name
Sausalito, CA - $5 1902 Plain Back Fr. 609 The First National
Bank Ch. # 12453 PMG Fine 12 Net.This great California rarity is a bit unusual in several respects. First of all, it comes from an excessively rare, one-bank Marin County location and is the first note from here to make a public appearance since 2009. Second, this community's sole issuer was only in business from 1923 until 1927. Today, just four notes are reported from this issuer. Although now known for its houseboats and high-priced real estate, Sausalito was, in the 1920s, a somewhat down at the heels community that struggled to support even one national bank. Over the years, even the most determined of California collectors including Charley Colver, Phil Krakover, and Lowell Horwedel were never able to obtain a note from Sausalito.
Third, this note, which turned up in a local New Jersey auction years ago, has a rather unique feature. At some point in the past, a previous owner attempted to "improve" the note and, in the course of having it repaired, spliced a letter "C" over a damaged "S" in the town name causing it to appear as "Saucalito." This purported "error" created quite a bit of excitement in the numismatic press a few years ago, but further research determined that the misspelling was simply a mistake by a "note doctor" rather than an engraving error by the BEP.
Either way, despite the mistake and other repairs, this $5 is still a very rare California note and remains quite presentable for the grade. The background of this piece, including the controversial repair, just adds to its appeal.
More information about California National Bank Notes.
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Auction Info
2026 January 14 - 16 FUN U.S. Currency Signature® Auction #3600 (go to Auction Home page)
Bidding Begins Approx.
December
26th
Friday
Auction Dates
January
14th-16th
Wednesday-Friday
Proxy Bidding Begins Approx.
48 Days
Bids + Registered Phone Bidders: N/A
Lot Tracking Activity: N/A
Page Views: 41
Auction Type
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Heritage Signature® Auctions Floor Sessions
Proxy bidding ends ten minutes prior to the session start time. Live Proxy bidding on Heritage Live now starts within 2 hours of when the auction opens for proxy bidding and continues through the live session. During the live auction event, bidding in person is encouraged, and Heritage Live includes streaming audio and often video during the event.
Heritage Signature® Auctions: Heritage Live®:After Internet bidding closes, live bidding will take place through www.HA.com/Live. Your secret maximum bid placed prior to the live event will compete against the live bids. To maximize your chances of winning, enter realistic secret maximum bids on our site. Many of our proxy bidders are successful at winning lots in these auctions, and usually below their secret maximum. You can also place last minute bids directly with us by e-mailing Bid@HA.com or calling 1-866-835-3243. (Important note: Due to software and Internet latency, live bids may not register in time, so enter realistic proxy bids.)
Heritage Signature® Auctions Floor Sessions
Proxy bidding ends ten minutes prior to the session start time. Live Proxy bidding on Heritage Live now starts within 2 hours of when the auction opens for proxy bidding and continues through the live session. During the live auction event, bidding in person is encouraged, and Heritage Live includes streaming audio and often video during the event.
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