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National Bank Notes > New York

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New York, Equitable NB, E6284
Fr. 587 $5 1902RS
Grade: CU    

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Normally the type note buyers would walk away with a note like this, but with only five notes reported on the bank, they will have to fight for it. This tiny bank didn't last long, organizing in June 1902, and going into receivership just 20 months later. Just 2,321 sheets of Red Seals were issued, their entire emission. By 1915, only $640 was outstanding. Apparently someone had the foresight to save one uncut sheet, which was later cut, plus a single note from the prior sheet. This 'B' position note is a drop-dead gorgeous Gem, but a sheet fold just along the frame line in the bottom margin requires the technical grade of CU. The pen signatures of Carl Rudolph Schultz, President, and Owen F. Reeves, Jr., Cashier, are so sharp and bold they almost look engraved on the plate. A fantastic note all around. --- Jess Lipka Red Seal Collection --- Jess Lipka Red Seal Collection

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