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National Bank Notes > Illinois

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Galena, Merchants NB, 979
Fr. 401 $5 1875
Grade: AU    

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There are 50 large notes recorded on this historic bank and 30 are $5 First Charters. Many of the 30 known have rounded corners of various degrees, as does this example. The last note offered was four years ago and it brought around $2,400. Excellent signatures enhance the appearance. Galena was founded as a steamboat hub to cross the Mississippi River and as a mining site, mining for its namesake. It saw significant early success, rivaling Chicago s population in 1928, just seven years after the first settlers arrived. The decreased demand for lead brought a sharp decline to the city in the mid-20th century.

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