Ultra Rare #1 Muskegon

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National Bank Notes > Michigan

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Muskegon, Lumberman's NB, 2081
Fr. 399 $5 Original #1
Grade: XF +    

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This charter was established in 1873 for what I consider one of the state's most representative banks. In a state where lumber has always been an important industry it seems appropriate to have a serial #1 note on this tradesmen's title. The fact that the bank was out of business by 1893 may not bode well for the region, but a slightly different charter appeared that same year; so it may have just been the charter expiration. The fact remains that this serial #1 note is one of only two notes known. It is a beautiful and rare note with excellent signatures of C. Davis, President and C.C. Billinghorst, Cashier. Who wouldn't want it? There is a signature of W.A. Woods in red ink on the left front. This jewel was acquired from the DeGood collection at $17,500 hammer - spot on my low estimate. The Dr. Wallace Lee Collection.

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