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National Bank Notes > Colorado

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Hugo, NB, W10786
Fr. 606 $5 1902ND
Grade: VF    

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By far the rarest of the two Hugo banks. This institution was in business for just twelve years, during which time it issued 1,942 sheets of $5 and $10 Plainbacks only. Of those 7,768 notes, a mere two pieces remain today. The other note, a serial #2, appeared in the Currency Auctions of America inaugural sale of 1990. At that time the note was considered to be unique. This note was a new find when I offered it in my 1998 Memphis sale. That sale was noteworthy for the several incredible Colorado notes that were sold. This Hugo note slipped by most bidders, including Mr. Mayer, as it immediately followed the sale of the serial #1 Gill, Colorado. It reappeared a few years later in May 2001, where it was finally secured for this collection. It is the better of the two recorded examples, and sports lovely, two color signatures. The bright paper and vibrant colors make this note a knockout piece.

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