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    Newly Discovered Serial Number 1 Del Norte, Colorado Brown Back

    Del Norte, CO- $5 1882 Brown Back Fr. 471 The First NB Ch. # 4264
    Once in a great while a note comes along that your cataloguer would pay a very substantial sum just for the privilege of handling. This is such an item. It was recently discovered in a local midwestern auction, consigned for sale as part of the estate of the daughter of Cleopatra Orcelia Dick, the niece of the bank's founder and President, W.H. Cochran. Along with some undistinguished coins, this was the sole numismatic item in the sale. Along with the note was a letter, (which accompanies this lot) on the letterhead of the bank, which is dated 4/16/1890 and reads as follows: Mr. & Mrs. O.L. Dick, Jefferson, IA, The First Natl Bank sends congratulations and hopes that Miss Cleopatra Orcelia Dick may thrive and prosper and be an honor to her Paternal and Maternal Ancestors and as her first birthday present she shall receive a $5 bill signed by her Uncle Will." Fortunately for this generation of collectors, "Uncle Will" was W.H. Cochran, President of the just opened First National Bank of Del Norte, Colorado, who just happened to have the serial number 1 note from plate position "A" readily at hand to send to his young niece. The bank itself proved to be a short lived venture, going under early in 1893 after less than three years in business, having issued a miniscule total of 838 sheets of $5.00 Brown Backs only. By 1915, the bank, the sole institution to issue in this remote mining community, was just a memory, with a mere $140 left unredeemed. One other note, also a serial number 1 Brown Back, has survived, with that piece having been ensconced in a prominent Colorado collection for the better part of three decades. This serial number 1 example represents the first opportunity collectors have ever gotten, or may ever get, to add a note from Del Norte to their collections. The note has been handled over the years, and picked up a few folds as well, but is vividly colored and bears sharp pen signatures including that of W.H. Cochran as President. This Very Fine -Extremely Fine note is truly difficult to estimate, but when rarity, desirability and demand come together in one spectacular package, those who understand that once in a lifetime opportunities do not normally offer themselves again will set the price this evening.

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    Auction Info

    Auction Dates
    January, 2002
    10th-12th Thursday-Saturday
    Bids + Registered Phone Bidders: 8
    Lot Tracking Activity: N/A
    Page Views: 425
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