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    Nebraska Territory Lazy Deuce

    Nebraska City, NT - $2 Original Fr. 387 The Otoe County NB Ch. # 1417
    It is the rare sale indeed that is fortunate enough to have even one example from the Nebraska Territory, which is tied with Idaho as the rarest of Territories, with each Territory having eight examples in the most recent Kelly census. Notes with the territorial designation from Nebraska represent an interesting paradox, as Nebraska retained its territorial status only through March 1, 1867, when it was admitted to the Union as the 37th state. As Peter Huntoon points out in his book Territorials, A Guide to U.S. Territorial National Bank Notes, when Nebraska (and Colorado) achieved statehood, the plates used to print National Bank Notes from these former Territories were not immediately changed, with Territorial examples from Nebraska, for example, produced as late as 1881. Despite that, Nebraska Territorials have remained extreme rarities for decades, with the population having remained at eight since the last was discovered in 1999. This note traces its pedigree back to the holdings of noted Texas (and Territorial) collector J.L. Irish, whose collection of Territorial notes was sold back in 1997, and is pictured in the Huntoon reference on page 97. Only two banks issued Territorial notes from Nebraska, and, of the eight Nebraska Territorials known, three come from this institution. All three are Deuces, and all three are similar in grade, i.e. quite well circulated. In fact, the finest known Nebraska Territorial grades only Fine, with most notes graded Good or Good-Very Good, while Idaho, with the same number of Territorials reported, lists no fewer than five specimens graded Very Fine or better. This piece is making its first auction appearance since it sold in 1997, when it brought $19,800. It would amaze us if this PMG graded Very Good 8 example failed to fetch substantially more in today's considerably more sophisticated market for truly rare items.

    Auction Info

    Auction Dates
    Apr-May, 2011
    27th-2nd Wednesday-Monday
    Bids + Registered Phone Bidders: 2
    Lot Tracking Activity: N/A
    Page Views: 2,267

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