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    Description

    Rare Wachovia NB of Winston Brown Back

    Winston, NC - $10 1882 Brown Back Fr. 490 Wachovia National Bank Ch. # 2425 PMG Good 6.
    The banking institution that Southerners knew for over 100 years as a beacon of stability was started in 1879 in Forsyth County, North Carolina by William A. Lemly. He chartered The Wachovia National Bank of Winston in June of that year with $100,000 in capital and his bold signature adorns this Brown Back. Only a few nationally recognized banking institutions started as fledgling National Banks. Notes from this bank remain among the most coveted of those because they are so scarce. A glance at the company's history provides the reason. In 1911 Lemly's Wachovia National Bank was liquidated and merged with Wachovia Loan and Trust Company, ending the issuance of National Bank Notes bearing the Wachovia name. Not surprisingly, this offering is one of only nine pieces reported from the location. Of that number, at least three examples are held by institutions, which leaves few options for today's collectors. With the other known examples selling for strong five-figure prices at auction, this well-worn but intact $10 Brown Back provides a more affordable opportunity for a North Carolina collector to acquire this tough charter. Ex: our 2019 Long Beach sale, lot 20592 where it realized $4,320.
    From The Mike Coltrane Collection.


    Auction Info

    Auction Dates
    November, 2020
    29th Sunday
    Internet/Mail Bids: 15
    Lot Tracking Activity: N/A
    Page Views: 247

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