La Grange, Georgia. $5 1882 Brown Back. Fr. 467. The First NB. Charter #3093. PCGS Banknote Choice Very Fine 35 Details. Minor Restorations.
This note should turn quite a few heads when it crosses the auction block. Two national banks issued currency in La Grange: The La Grange NB (Charter 7762) which offers 26 large size notes to collectors, and the First National Bank (Charter 3093) with just two notes available to the collecting community. No auction results are listed in Track & Price for Charter #3093, nor are any notes listed in their census. The National Bank Note Census records a single note in their census, which is just 12 digits away from this serial number. No auction records are listed in the National Bank Note Census either, making this the first reported public offering of this Georgia charter. The First National Bank of La Grange was chartered on December 20th, 1883 and issued $5 Brown Backs only. Just 1,829 sheets were issued. The Bank would issue $36,580 before being liquidated on December 1st, 1891. Just $245 was reported outstanding in 1910. Given the number of notes issued, and the serial number towards the end of the reported number range, it can be assumed that this note was saved by a sentimental bank employee, most likely around the time of liquidation. The note is quite appealing; dark penned bank officers signatures remain fully legible whilst the paper is bright. The design on the reverse, where the series takes its name from, offers exceptional appeal of the brown ink. This note is sure to be hotly contested by National collectors, and we would not be surprised if our high estimate is met or exceeded to take this piece home. PCGS Banknote comments "Minor Restorations."
Estimate: $10000.00- $15000.00