Impressive $20 Rarity

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National Bank Notes > Michigan

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East Saginaw, Home NB, 2761
Fr. 438 $20 1875
Grade: VF    

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This note was acquired by Wally in 1986 from a Hickman sale where it was described as follows, "A significant note from the Wayne Skiles "Apalachicola" collection. We believe this note is Lot 1835 in the Grinnell sale. This bank was one of the last half-dozen chartered to issue First Charter notes. As mentioned in the Grinnell catalog this note is dated October 3, 1892, over 10 years after the bank was chartered. Since the bank bowed out in June 1896, $10s and $20s were placed in circulation for less than four years. We've seen one other note from this bank, an 1875 $5 dated July 20, 1882. All East Saginaw notes are rare, even with five banks we can account for only seven or possibly eight notes. A bright, carefully handled note..." The current census indicates four notes reported with one being a puppy, the other grade note known. This most likely, is and should remain, the finest known on this bank. The Dr. Wallace Lee Collection.

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