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    One of Two Notes Known

    Prestonburg, KY - $10 1902 Red Seal Fr. 613 The First NB Ch. # (S)7254
    A fantastic Red Seal rarity from one of the smallest issuers in the state. This institution, the only bank chartered in this coal country county seat, issued just 383 sheets of Red Seals along with a literal handful of Blue Seals and Series 1929 examples as it clung to the minimum $6500 capitalization the law required. With its limited circulation, it is no wonder that the amount of large notes outstanding from here had dropped to only $370 by 1935. Just two large notes are known, both, amazingly, Red Seals. Three years ago, we sold the other Red Seal, which was similar in grade for $3,680. We see no reason why this specimen should not easily exceed that number. Very Good-Fine, with strong pen signatures.

    Auction Info

    Auction Dates
    Apr-May, 2009
    29th-3rd Wednesday-Sunday
    Bids + Registered Phone Bidders: 2
    Lot Tracking Activity: N/A
    Page Views: 345

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