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    Description

    Unique Serial Number 1 Black Charter Note

    Red Oak, IA - $5 Original Black Charter Number Fr. 399 The First NB Ch. # 2130
    We sold this note four years ago when we described it as follows: "This spectacular serial number 1 Black Charter Note represents a true miracle of survival. Discovered earlier this year, it is the only serial number 1 Black Charter Note from any bank to survive, and is one of only three Original Series Black Charter Notes known to exist. It is the 'A' position note from the first sheet of fives sent to this bank in 1873, and, as Peter Huntoon noted in his Bank Note Reporter story earlier this year, had obviously been saved by one of the signers. Nothing is known of the note's pedigree since the day it left the bank in late 1873 until it walked into a small Iowa coin shop earlier this year. The note quickly changed hands and the second dealer sent it to PMG for grading because of its attractive appearance. Only when the note came back from PMG with the attendant fanfare did the second dealer realize that this was not only a serial number 1 example but was the only serial number 1 Black Charter example ever to be recorded. Fortunately for collectors, it is a lovely as well as unique note, with great color, signatures, and eye appeal, fully, in our opinion, meriting its PMG assigned grade of Very Fine 25. PMG has also noted 'Minor Splits,' which are mentioned only for the sake of total descriptive accuracy, as they are tiny interior splits which are invisible until the note is held to the light. We have been privileged to handle many significant National Bank Note rarities in our two decades in the auction business and our four decades as a dealer and collector. This unique note is right up there with the very most important items we have ever offered. Whatever the cost tonight, it is an irreplaceable rarity deserving of a place in any collection of important United States paper money, and it would not surprise us at all if our likely conservative estimate were well exceeded before the hammer falls this evening." It did exceed its low estimate of $100,000 that night, bringing $138,000 after a rousing floor battle between two determined bidders. While the market for National Bank Notes has changed since 2008, the market for unique rarities appears just as vibrant, and we expect this note will once again easily break the six figure mark, likely ending in the range of...
    From The Greensboro Collection


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    Auction Info

    Auction Dates
    January, 2013
    9th-14th Wednesday-Monday
    Bids + Registered Phone Bidders: 2
    Lot Tracking Activity: N/A
    Page Views: 1,233

    Buyer's Premium per Lot:
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