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    Description

    Philadelphia, PA - $20 1882 Brown Back Fr. 494 The Bank of North America Ch. # 602
    A much sought after note from one of the oldest banks in America. Organized in 1781 and opened in 1782, it was chartered by Robert Morris, who helped finance the American Revolution. By a special Act approved by Congress, this bank alone was exempted from the requirement that it adopt a title including the words "National Bank" when it adopted a Federal charter in 1864, and it remains the only bank to have issued Nationals without that word in its title as required by the National Banking Act of 1863. Legend has it that the legislation was passed at the request of the bank in recognition of this institution's leading role in selling U.S. Treasury debt to the public during the Civil War. This Very Fine note is only the third $20 Brown Back to be documented on this charter number. Also, the last Brown Back that we sold at auction on this bank was a Fine $10 in May 2007 for $1437. Look for tonight's example to seriously challenge that figure.


    Auction Info

    Auction Dates
    October, 2010
    26th Tuesday
    Internet/Mail Bids: 8
    Lot Tracking Activity: N/A
    Page Views: 717

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