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    "National-less" Bank of North America $10 Brown Back

    Philadelphia, PA - $10 1882 Brown Back Fr. 480 The Bank of North America Ch. # 602 PMG Choice Fine 15.
    An historic National bank without "National" in the title. The Bank of North America (often referred to as "The Bank" when founded) was the first congressionally chartered bank in 1782. Early investors in the bank included several of the Founding Fathers and signers of The Declaration. When the National Banking Act was passed, newly or converted chartered banks were required to have a numbered (for example, First, Second, etc.) title. However, the Bank of North America did not want to surrender its prestigious name. When the act was amended, this was the only bank exempted from the required "National" in its title. The National bank issued only large notes from 1865 until ending with 1902 Plain Backs. This is a scarce brown back. Evenly circulated with acceptable margins. We have cataloged only one example of this charter and type. That was back in 2007, and it realized $1,437.50 as an uncertified "Fine." This example is vastly superior to that note.
    From The Mike Coltrane Collection.

    Auction Info

    Auction Dates
    November, 2020
    4th-5th Wednesday-Thursday
    Bids + Registered Phone Bidders: 23
    Lot Tracking Activity: N/A
    Page Views: 231

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