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    Finest Known Florence, Arizona Note- Second Offering in Sixty Years

    Florence, AZ - $10 1902 Plain Back Fr. 632 The First NB Ch. # (P)10998
    An extraordinary new discovery from an excessively rare Arizona bank which issued large notes only and had just $920 outstanding at the time the bank shut its doors forever in 1933. This bank issued only $10 notes and was the only bank in Arizona to utilize the $10-10-10-10 plate arrangement. According to the latest census information, six notes are known from this one bank community, which dates its existence to Territorial days. When the politicians parceled out the key public institutions upon the formation of the Arizona Territory, Prescott got the capital (which was soon moved to Phoenix), Tucson the university, and Florence the state prison. Many citizens of Tucson were outraged, claiming the penitentiary was the better choice for the town. Where it not for the prison, now the state's maximum security facility, and the fact that Florence became the seat of Pinal County, the town would likely have disappeared decades ago, as even today it has largely missed out on the economic and population gains the state has made during the past few decades. While Peter Huntoon's census shows six examples extant from this one bank community, all save one have been closely held in long term collections for years, as our data shows just one offering from here at public sale during the past sixty years, with that coming in an auction appearance almost sixteen years ago. Extremely Fine, the finest example known from this location, and a true trophy item from one of the most avidly collected states in the country.
    Our thanks to Peter Huntoon for his generous assistance with this description.

    Auction Info

    Auction Dates
    January, 2006
    5th-7th Thursday-Saturday
    Bids + Registered Phone Bidders: 9
    Lot Tracking Activity: N/A
    Page Views: 654

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