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    Description

    Newly Reported and Lovely Wachovia NB of Winston Date Back

    Winston, NC - $10 1882 Date Back Fr. 545 Wachovia National Bank Ch. # (S)2425 PMG Choice About Unc 58.
    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. Today, there are very few nationally recognized banking institutions that started as fledgling National Banks. Notes from this bank remain one of the most coveted among them because they are so scarce. A glance at the company's history provides the reason why. In 1911, under Mr. Lemly's successor as bank president, James A. Gray, the Wachovia National Bank was liquidated and merged with Wachovia Loan and Trust Company, ending the issuance of National Bank Notes bearing the Wachovia name. Until this evening, only eight notes were known to exist, although most of them are tied up in institutional holdings or long-term collections. This offering is a wonderful new addition to the census that is not only the first Date Back of any denomination to be reported, but also easily the finest of the now nine known notes since none of the other pieces graded above Very Fine. It is a quite lovely note with fully original ink colors and dark pen signatures, including that of Mr. Gray. It does have some very minor evidence of a previous mounting on the back which likely explains why this note survived in such a high grade. Regardless of that very minor distraction which truly affects nothing, this is truly a significant piece of North Carolina and National banking history.


    Auction Info

    Auction Dates
    September, 2020
    17th-21st Thursday-Monday
    Bids + Registered Phone Bidders: 4
    Lot Tracking Activity: N/A
    Page Views: 406

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