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    Likely Unique Bi-State Nevada Scrip Issue

    Keystone, NV- The Keystone Mining Company $5 Feb. 21, 1894
    The first of a pair of fantastic and likely unique notes which were part of a small Obsolete note holding which walked into a northern California coin shop late last year. Until these notes surfaced, no one knew of the existence of these pieces, because, save for an offering of a printing plate from this issuer by Stacks in 2006 (which brought almost $7,000), the notes themselves were unknown, missing even from the massive Western collections of Herb & Martha Schingoethe and John J. Ford. The Keystone Mine was located south of the present day Las Vegas, near a small town called Goodsprings. In 1892, after a bit of preparatory work, rich ore was struck, and by June of that year, active exploration was begun. Gold was produced as a by-product of lead, silver, and zinc mining, and by the end of that year, the Keystone Mine was the most profitable in the district. In 1893, a post office was established at the Keystone Mine, and the area supported about 200 people, a few stores, and numerous small mining operations. Success was short lived however, and by 1895 the mine was taken over by the miners in a dispute over unpaid wages. The miners held the mine for three months until enough money had been made to pay their wages, as well as the wages for local Indians who had been cutting wood for the mine. By 1897, the post office at the Keystone Mine was closed, and the mine essentially abandoned. This note is signed and dated and was printed by the New York Bank Note Company. It was payable at the Needles National Bank of Needles, California, the closest National Bank and one whose notes are still unknown to collectors, as the bank was in operation for a very limited time between March of 1893 and January of 1895. Printed in bright orange ink, this and its companion $10 are perhaps the greatest Western items we have ever been privileged to offer, as both are previously unknown, almost certainly unique, and feature a bi-state connection which allows collectors as close an opportunity to obtain any note from the Needles National Bank as they are ever likely to have. PCGS Apparent Very Fine 25, with one small cut cancel and a few insignificant edge splits.

    Auction Info

    Auction Dates
    January, 2013
    9th-14th Wednesday-Monday
    Bids + Registered Phone Bidders: 1
    Lot Tracking Activity: N/A
    Page Views: 654

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