A New Discovery from Arizona

In the realm of National Bank Notes, Territorial pieces hold a special position with collectors. Often exceedingly rare (aside from a handful of banks), these notes offer testament to life along the frontier or in far-flung places like Alaska or Puerto Rico. Yet in some cases there are banks where Territorials account for the bulk of known examples while pieces issued after Statehood account for a tiny fraction of the recorded population.

Territorial notes are typically found from places like Oklahoma, which became a state after the merger of the Indian and Oklahoma territories in 1907. States like Arizona offer decidedly scarcer prospects owing to the lack of banking infrastructure outside of cities like Phoenix or Tucson. We are pleased to be offering a 1902 $20 Date Back from the Prescott National Bank (Charter# 4851) out of Yavapai County in our Summer Global Showcase Auction. This example, from the McLaughlin Collection of Napier-Thompson Notes, represents a bank that was first organized in 1893 almost 20 years before Arizona became a state in 1912. The Prescott National Bank did not last long after 1912 as it was liquidated in 1916 by the Prescott State Bank.

The brevity of this bank’s post-statehood form and the fact that much of its operations occurred during the Territorial period, combine to leave little room for survivors that lack the Territorial imprint, as confirmed by the National Bank Note Census which currently records a total of 10 notes. Of those, nine were issued during the Territorial period; a single well-circulated $5 Date Back from the Series of 1902 issued after Statehood accounts for the only recorded post-1912 survivor from this bank.

This specimen, which only just emerged from the depths of a long-term collection, will become only the second post-1912 survivor (once added to the NBNC) and the sole example of its type and denomination.

Combined with the strong level of interest typically encountered for Nationals from Arizona at auction, even for common banks, bidders should expect a fierce struggle when it crosses the auction block in August. For more information about our auctions or to consign your numismatic items, please call 800-458-4646 or email [email protected].