EXCEEDINGLY RARE MAGDALENA, NM PAIR

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National Bank Notes > New Mexico

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Magdalena, First NB, W10268
Fr. 628 $10 1902ND
Grade: Fine    

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Magdalena has always been one of my favorite New Mexico towns, and the opportunity to offer two in the same auction is truly rare. Magdalena was named in 1884 after nearby Magdalena Peak when the first post office opened there. A railroad spur from Socorro arrived the next year and the town was incorporated in 1913. According to reference, the signatures that should be on these notes are of William R. Morley, President, and W.C. Franklin, Cashier, but the signatures on both notes have faded with time. The bank was chartered September 20, 1912, and closed January 18, 1923, issuing a scant 6,443 sheets of Plainbacks and just 2,500 sheets of Datebacks. Six notes are reported, including these two. It is a rare enough opportunity to find one of these notes for sale, but to have the choice between two may not come around again. This attractive $10 is evenly circulated, with solid margins and good overall eye appeal. Although the less expensive of the two, there certainly is no shortage in quality here.

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