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    Description

    Newark, NJ - $5 1902 Plain Back Fr. 609 The Labor NB Ch. # 12771
    The first title used on Nationals by this union affiliated bank, one of a number of labor banks formed predominantly by transportation unions in the mid to late 1920's. Often thinly capitalized and lenders to marginal enterprises, they were decimated by the Depression, with this bank one of the very few to survive until the end of the note issuing period. Although Series 1929 examples (which all bear the bank's second title) are easily found, large notes, which display the first issuing nomenclature, are quite rare, with the census standing at just six pieces...and, with a miniscule $315 outstanding in large notes by 1935, it's unlikely to go much higher. PMG Choice Very Fine 35 EPQ, a significant New Jersey rarity likely to see some spirited bidding.


    More information about New Jersey National Bank Notes.

    Auction Info

    Auction Dates
    August, 2012
    3rd Friday
    Bids + Registered Phone Bidders: 0
    Lot Tracking Activity: N/A
    Page Views: 284

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