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    Description

    Smethport, PA - $5 1902 Plain Back Fr. 600 The Grange NB of McKean County Ch. # (E)8591
    "A nice example from this "Grange" bank, one of a number of National Banks organized by local chapters of the National Grange, a nationwide farmers organization. Taking advantage of the lower capital requirements to organize banks enacted early in the twentieth century, a number of banks were chartered by agricultural interest to serve the needs of farmers that were allegedly not being met by already existing local banks. The agricultural depression of the 1920's was not kind to these institutions, and the few that survived the decade were soon laid waste by the Great Depression of the 1930's. Fine+." This was our description when we sold this lovely and very scarce note back in 2007 for the princely sum of $2,530. Today it is in a PCGS Fine 15 holder and it very well may approach that lofty level once again.


    Auction Info

    Auction Dates
    April, 2014
    8th Tuesday
    Internet/Mail Bids: 10
    Lot Tracking Activity: N/A
    Page Views: 147

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