Lot 120: $5.00 Series of 1902 Red Seal National Bank Note, Fr-589, Charter #9003
October 29, 2016
Garden City, NY, USALive Auction
Description: $5.00 Series of 1902 Red Seal National Bank Note, Fr-589, Charter #9003. The Merchants National Bank of Watertown, WI. SERIAL #1. PCGS Choice About New 58PPQ with the holder also commenting that this is a replacement note. We spy a tiny corner fold at the lower right, otherwise this splendidly fresh specimen offers a Ch CU presentation. There are only 7 recorded Red Seal Serial #1 notes from Wisconsin, and three of them happen to be from this bank. The same note offered here appeared raw in major public auctions; both as an AU55 (June 2013) and as a Ch CU63 (January 2005) at which times it realized $5462.50 and $12,075 respectively. We will estimate it for significantly less and see what happens! Est. $3300.