Our Winter 2022 U.S. Currency Auction will soon be available for viewing and bidding at StacksBowers.com. A highlight of the sale is a San Diego, California $5 1902 Red Seal from Charter 7418 American National Bank in PMG Choice Very Fine 35 EPQ.
This special note is sure to grab the attention of not only San Diegans collectors, but also connoisseurs of National notes as a whole. According to the Treasury serial number, this was the one millionth $5 Red Seal note issued for all National charters combined. A Treasury serial number this special appears only once in a blue moon, so we would not be surprised if our high estimate is met or exceeded. The A1000000 Treasury serial number takes into account all $5 Red Seals printed by every National Currency issuing bank. This will be the fourth $5 Red Seal to come forth from this San Diego issuer, with ten large size notes now known according to the National Bank Note Census. This is the lowest serial number for reported Red Seals (171) from the issuer. The note itself is quite impressive for the grade; the paper is original with punch through embossing readily noticed through the third-party holder. The dark red inks of the overprints contrast nicely against the dark black design details. The signatures are large and neatly penned, readily legible in brown ink. One of the more pleasing examples we have encountered of the type for the grade level.
The American National Bank of San Diego was chartered in October 1904 and issued $1,186,500 during its operating tenure. The bank was liquidated on December 29th, 1917, with $200,000 reported out at close. This is the finest graded Red Seal note to have crossed the public auction block from this issuer, according to Track & Price. The last Red Seal to have traded hands from this issuer was in a 2018 public auction. That example, a PMG Choice Fine 15, fetched $6,600. In fact, according to the National Bank Note Census, this appears to be the finest graded $5 Red Seal from San Diego to have crossed the auction block. Ten banks issued currency in San Diego County, two of which are unreported. This special and far more eye appealing note should easily eclipse that number.
We are currently taking consignments for our 2023 Spring Expo Auction in March, as well as our monthly auctions. To consign your U.S. paper money and world paper money to a future sale, contact a consignment specialist at 800-458-4646 or visit StacksBowers.com. For more information on viewing lots or for assistance in registering to bid, email your inquiry to: [email protected].