Saturday, July 3, 2010

Walla Walla, Washington Territory - $5 1875 Sold for $161,000

Heritage Auction
July 3, 2010

1875 Walla Walla, WA $5 brings $161,000 to lead $5.1 million Heritage Memphis Currency Auction June 17-19 2010



Description:

Walla Walla, Washington Territory - $5 1875 Fr. 403 The First NB Ch. # 2380

A wonderful note which is new to the market and offered here to the collecting community for the first time. It comes from the only bank in the state of Washington to have issued First Charter Territorial examples, and becomes only the third First Charter Territorial reported from Washington state.
The other two examples have been ensconced in major private collections for some years, with one grading Very Good and the other Extremely Fine. Neither has ever been offered at public sale, but we do know that the higher grade specimen traded hands several years ago at a number well into the six figure range. The example we offer tonight is outstanding in every respect, displaying bright paper, a vivid red overprint, and superb colors which look nearly as nice as they did on the day this note was printed 130 years ago. In fact, PMG has noted "Exceptional Eye Appeal" on the Very Fine 25 holder, an appellation we have seen only once or twice before on any PMG graded note. For the collector putting together a set of Territorial notes, for the Washington collector assembling an ultimate state type set, or for the collector who simply appreciates the very finest in National Bank Note rarities from all states, this note is one which absolutely should be brought home tonight