National banknote collectors will be interested to learn of the recent
discovery of a 1902 $5 Plain Back from the First National Bank of Vero,
Florida, charter #11156. This new note will be a featured lot of Stack’s Bowers
Galleries Official Currency Auction of the Whitman Coin & Collectibles
specialists will realize that this makes just the fourth note to come forward
from this one-bank town. The bank opened in 1918 and closed its doors exactly
five years later in 1923. This is just the second auction appearance of any
note from this bank; the first was the 1902 $5 serial number 1 that realized
$71,875 in a public auction in 2007.
new discovery is certainly the second nicest of the four. The body of the note
is strong having only four hard folds. PMG has graded the note Very Fine 30 Net
with comments “Stained, Rust”. The signatures of both the cashier and
president remain very strong. With far fewer notes available than there are
collectors needing this bank, this new discovery could easily exceed the
pre-auction estimate of $15,000-$25,000.
Stack’s Bowers Galleries Official Currency Auction of the Whitman Coin &
Collectibles Winter Expo will be held November 2-4, 2016, at the Baltimore
Convention Center in Baltimore, Maryland. We are currently accepting
consignments to our 2017 auction events. If you are interested in consigning to
an upcoming auction, or have a currency related question, please contact
Currency Specialist Brad Ciociola at [email protected]
or Director of Currency Auctions Peter Treglia at [email protected].