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National Bank Notes > Colorado

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Leadville, American NB, W3949
Fr. 626 $10 1902ND
Grade: VF/XF    

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Leadville was founded in 1877, and soon became one of the world's largest and richest silver mining camps, as well obtaining the reputation as one of the most lawless towns in the West. Getting rich in those days was not without risk. The First NB of Leadville was chartered in 1879, but went into receivership in January 1884. This booming town was without a national bank for several years until the Carbonate NB was chartered in 1887 followed by the American NB in 1888. The example we offer here has not been previously offered to collectors. It is extremely clean and exhibits bright paper for the grade and bold signatures. One of eleven notes reported on this large-only bank and the first note from here auctioned in seven years. From the Rocky Mountain Collection. ---- Leadville, the highest altitude city in the United States, had a small gold boom in 1860, but the discovery of silver in the lead carbonate deposits in 1877 led to a huge population explosion. When miners met that year to name the post office they considered Carbonate and Cerrusite before settling on Leadville. By 1880 the population was over 40,000, but that did not last. The town began to revert back to a small mountain town after the repeal of the Sherman Silver Purchase Act in 1893.

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