Houston, TX - $1 Original Fr. 382 The National ...Click the image to load the highest resolution version.
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Excessively Rare National Exchange Bank of Houston Ace
Houston, TX - $1 Original Fr. 382 The National Exchange
Bank Ch. # 2092 PCGS Apparent Extremely Fine 40.
A fantastic Texas rarity which is one of only thirteen aces known from all banks in the state combined. Two are from this First Charter only Houston bank, with the other long ensconced in the Philpott holdings now owned by the Moody Foundation. It is one of four examples known from the bank, with the other two being a $20 Original which was also part of the Philpott holdings, and a lone deuce which is missing pieces and is exceedingly low grade, but is unique for type from Texas. It is also ensconced in an institutional holding. This note has only been on the market twice since your cataloguer discovered it at a New York coin show more than four decades ago. The last time as part of the J.L. Irish collection which was sold in 1997. It realized $8,800 at that time. PCGS correctly notes the fact that the note has been restored and the signatures redrawn, but the restoration was done professionally with incredible skill, leaving this desirable Texas trophy item with the appearance of a truly high grade piece.
From the Coral Gables Collection, Part III
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