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National Bank Notes > Colorado

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Hugo, First NB, 8489
Fr. 626 $10 1902ND
Grade: Fine    

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We sold two very similarly graded notes from this bank in the Mayer Collection where one realized $1,035 and the other $2,127. While the catalogued grades were actually lower on the more expensive note, since that time we have sold a Red Seal at $8,625. The president's signature is lightly visible while the cashier's is purple stamped and clear. Hugo is the county seat and was probably named for a settler named Richard Hugo, rather than the French novelist Victor Hugo. ---- Hugo is the county seat and was probably named for a pioneer settler named Richard Hugo, rather than the French novelist Victor Hugo. From the 1880's to 1900, cattle ranching was the main industry of Hugo and the surrounding area. At the turn of the century, changes in the homestead laws caused a flood of farmers to move here and dryland wheat became important to the economy. Today, agriculture continues as the main financial support for the town.

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