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National Bank Notes > Kentucky

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Covington, Commercial NB, S8564
Fr. 589 $5 1902RS
Grade: AU    

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This major Kentucky city was home to no less than seven national banks. The Commercial National Bank was the last one chartered in 1907, just in time to place an order for 4,500 sheets of Red Seals. Later, more than twice as many 1902 Date backs were printed. Soon after, the bank failed and was liquidated in 1914. As a result of its early collapse, only three notes have survived, two consecutive Red Seals and a 1902 Date back. This note was sold for $2,990 in 2006 when the Gale collection was offered. The second Red Seal was part of the Glenn Martin collection. This example is high grade and exhibits super colors and excellent contrast. Unfortunately the stamped signatures have faded. The rarest Covington bank except for the unreported Merchants National Bank. --- Jess Lipka Red Seal Collection --- Jess Lipka Red Seal Collection

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