Wednesday, May 24, 2017

Rare National Gold Bank Notes sold in recent auctions

 

Four exceedingly rare gold notes, all from the Eureka Collection of National Gold Bank Notes, topped Heritage Auctions’ Currency Signature Auction held April 26-May 2 in Chicago. The sale was held in conjunction with the Central States Numismatic Society covention.

All prices cited here include the 17.5 percent buyer’s premium. Total for sale was $8,736,245.

 


This unique-for-the-bank $50 National Gold Bank Note led all others in Heritage’s
CSNS auction. The rarity from The Farmers National Bank of San Jose, Calif.,
brought $376,000.

 

Leading the four notes was a unique- for-the-bank Original Series $50 from The Farmers National Gold Bank of San Jose, Calif, Fr. 1161, charter 2158. The PCGS Very Fine 20 note is “one of only seven $50 National Gold Bank Notes listed in the census, and the first one outside of San Francisco.” It brought $376,000.

 


A $100 Santa Barbara National Gold Bank Note in PCGS Fine 12 went for
$282,000.

 

Taking a close second was an Original $100 on The First National Gold Bank of Santa Barbara, Calif., Fr. 1164, charter 2104. It was formerly part of the Albert A. Grinnell holdings, having been sold in Barney Bluestone’s March 1945 sale for $225. It is one of only nine $100s from all National Gold Banks combined and the only specimen from Santa Barbara. In PCGS Fine 12, it went for $282,000.

A second Original $100 National Gold Bank Note, this one from The First National Bank of Petaluma, Calif., Fr. 1165, charter 2193, brought $246,750. It is one of two known and the first available to collectors in more than 40 years. It last appeared on the market in 1998 when it went for $25,300. It is graded PCGS Very Good 10.

A unique-for-the-bank Original $100 National Gold Bank Note, Fr. 1166, charter 2266, on The Union National Gold Bank of Oakland, Calif. sold for $235,000. It also traces its pedigree to the Bluestone March 1945 Grinnell sale, which was the last time it was offered at auction prior to this appearance. It was graded PCGS Fine 12.

 

Courtesy Bank Note Reporter

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