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    Description

    Philadelphia, PA - $5 1875 Fr. 401 The Bank of North America Ch. # 602
    A highly coveted 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. PMG Choice Fine 15, with a bright red overprint and plenty of eye appeal for the grade.


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    Auction Dates
    Apr-May, 2016
    27th-2nd Wednesday-Monday
    Bids + Registered Phone Bidders: 2
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