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National Bank Notes > Colorado

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Montrose, NB, 7288
Fr. 1802-1 $20 1929T1
Grade: VF/XF    

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This scarce bank in Western Colorado now has six small notes reported including this new find from the Rocky Mountain Collection. This note grades higher than any of the reported grades, although one Type 2 $20 has no grade attached to it. This is by far the scarcer of the two National Banks located here. The entire Track and Price census shows a single large note selling three times since 2006 and two different appearances of a small note. The first was the example from the Mayer Collection that we sold in 2008 and the second was another in the same Fine grade that we sold in 2010. Obviously, a bank whose notes are tightly held. The First NB of Montrose issued three times more $5 Type Ones than the Montrose NB issued for its entire small size production! From the Rocky Mountain Collection. ---- Although what would become Montrose had been a supply hub for many mines in the region, the land for the town was only secured by its founders in late 1881. The central portion of the town was laid out in January of 1882, with the Denver and Rio Grande Railroad setting its first tracks in September of 1882. In 1909, the Gunnison Tunnel opened, providing irrigation water from the Gunnison River which helped turn the town into an agricultural hub. Montrose is the county seat and took its name from Sir Walter Scott's 1819 novel "The Legend of Montrose".

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