Amazing Rarity

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National Bank Notes > Illinois

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Pawpaw, First NB, M6228
Fr. 613 $10 1902RS
Grade: Ch. AU    

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Here is one of the finest jewels within this collection. This Lee County bank was chartered on April 24, 1902 and liquidated on November 11, 1902. There were only 150 sheets ever printed and all were Red Seals. Somehow there are two surviving examples from this bank. The other note was a Fine Red Seal offered in 2002 at $12,650 and again in 2010 at $12,650. This note I grade Ch. AU because of a light, long angled bend that does not break through the paper, making it more handling. The pen signatures are nearly perfect of Jno. F. Edwards, President and A.C. McBride, Cashier. Pawpaw s first permanent residents arrived in the early 1830s but the town grew slowly at first. It was passed over for a rail stop in 1850, not receiving rail traffic until 1878. It was officially established as a town four years later.

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