Lake Worth, Florida. $5 1902 Plain Back. Fr. 607. The First NB. Charter #11716. PMG Very Fine 25.
This is an incredible Florida rarity from well collected and under represented Palm Beach County. Just five notes are reported from this large size only bank. The First National Bank of Lake Worth was organized in April of 1920 and issued 1902 $5 Plain Backs only to the tune of $170,300. The bank went into receivership in April of 1927 with $32,300 outstanding at close. Dark inks and sharply printed design elements are featured on this example. The paper displays average circulation with good body. Bold blue overprints are featured on the face and add to the overall appeal. The grading service mentions "Closed Pinholes" on the back of the holder. Certainly there are nary enough notes to meet collector demands for this one bank locale. This is an important opportunity for serious Florida collectors to secure a very rare charter. A Very Fine 20 example recently sold in a January 2022 auction for $14,400, and we would expect this more attractive Very Fine 25 note to fetch a higher sum.
Estimate: $12500.00- $17500.00