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Silver Springs, NY - $5 1902 Red Seal Fr. 587 The Silver Springs NB Ch. # (E)6148. ...
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Sold on Sep 26, 2013 for:
$9,987.50
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Description
Serial Number 1 Silver Springs Red Seal
Silver Springs, NY - $5 1902 Red Seal Fr. 587 The Silver Springs NB Ch. # (E)6148We first sold this note as part of the Thomas A. Bergin collection of New York Nationals in 2007, where we described it as: "A gorgeous serial number 1 Red Seal which is of great historical importance, as this piece, which bears the 'A' position as the top note from the first sheet, is also the first Red Seal issued by any New York bank, as this institution was the first bank in the state to receive its charter in January of 1902. One other serial number 1 Red Seal is known from here, with that note, a $10 in a bit lower grade than this, realizing $20,700 in a New York auction in 2006. This piece is bright, original, and clearly never saw any circulation, but a few light handling marks compel the grade of Choice About Uncirculated. Pen signed and with incredible eye appeal, it is another trophy example destined for a great collection after the hammer falls this evening." In the Bergin sale, this note realized $17,250. Five years later, in a completely transformed and far more rational market, the note fetched $7,187.50, a price that now seems both reasonable and quite achievable. PCGS Choice About New 55.
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Auction Info
2013 September 25 - 27, 30 & October 1 Currency Signature Auction - Long Beach #3524 (go to Auction Home page)
Auction Dates
Sep-Oct, 2013
25th-1st
Wednesday-Tuesday
Bids + Registered Phone Bidders: 6
Lot Tracking Activity: N/A
Page Views: 378
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