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    Newly Reported Wachovia NB of Winston Brown Back

    Winston, NC - $10 1882 Brown Back Fr. 490 Wachovia NB 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 (whose signature also appears as cashier on the unique Salem note we are offering this evening). He chartered The Wachovia National Bank of Winston in June of that year with $100,000 in capital and his bold signature adorns this newly reported Brown Back. Only a few nationally recognized banking institutions started as fledgling National Banks. Notes from this bank remain one of the most coveted among them because they are so scarce and a glance at the company's history provides the reason why. 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 then, this piece is only the seventh note to surface from here. Of that number, at least three examples are tied up in institutional holdings leaving 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 North Carolina collector to acquire this tough charter.

    Auction Info

    Auction Dates
    September, 2019
    4th-9th Wednesday-Monday
    Bids + Registered Phone Bidders: 2
    Lot Tracking Activity: N/A
    Page Views: 139

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