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    Unique Minnesota $5 Black Charter

    Minneapolis, MN - $5 Original Black Charter Number Fr. 399 The Merchants National Bank Ch. # 1830 PMG Choice Fine 15.
    One of the highlights of this wonderful selection of Minnesota nationals we are offering this evening, this is truly one of the greatest notes from Minnesota to ever cross the auction block. It is the sole Black Charter example known from this bank, and therefore the entire state, as this institution was the sole Minnesota issuer of these notes, which appear to have been created as a short-lived experiment to test affixing the charter number to each note, something that was made official policy by the Act of June 30, 1874, which mandated that action on all newly issued notes.

    While most of the known Black Charter notes come from a narrow range of bank charters between numbers 2129 and 2142, there are two anomalies to this generalization with this bank being one of them. This Minnesota variety resulted from a change in the bank's title on January 8, 1874, from the First National Bank of Saint Anthony to the Merchants National Bank of Minneapolis. Fortunately, the new $5-$5-$5-$5 plate for this bank was made during the latter part of the Black Charter experiment.

    Tonight's offering is an evenly circulated note with solid paper and, most importantly, its Black Charter overprint, remains quite bold. Any estimate here is very much a speculative guess, as these are so rare and so seldom offered that it is difficult to even suggest a number, particularly for this note which is making its first public appearance. However, if demand and scarcity are any indicators, a conservative number would likely be...
    From the Gilmore Sem Collection, Part II




    View all of [The Gilmore Sem Collection, Part II ]

    Auction Info

    Auction Dates
    January, 2020
    8th-14th Wednesday-Tuesday
    Bids + Registered Phone Bidders: 4
    Lot Tracking Activity: N/A
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