Provocative Hyannis First Charter Ace with Missing Overprint

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National Bank Notes > Massachusetts

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Hyannis, First NB, 1107
Fr. 386 $1 1875
Grade: PCGS Apparent New 60    

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An enigmatic First Charter National if ever there was one. PCGS has correctly noted that there is minor toning and that the overprint is faded. On its face, either way this is a very desirable Cape Cod note in CU grade and should be highly coveted based on those facts alone. This is an exceptional grade for this final First Charter Ace signature combination. There has been conjecture amongst the experts about whether this qualifies as an error but we will let the bidders decide. As it stands PCGS did not qualify it as such. The note is absolutely not sun struck. The signatures remain bold and both serial numbers remain bright red. The shadow of the charter number at left and the Treasury seal at upper right are both visible with every minute detail of the embossing of both present and accounted for. This exact note is listed in the Third Edition of Kelly. There is a Lazy Deuce of this same charter, a mere four serial numbers away, that has the exact same issue and which is almost identical in appearance in every way. That note graded AU with a left edge split and sold for over $15,000 a decade ago.

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