Lot 1514
Fr-587. 1902 Red Seal, $5 National Bank Note. The First National Bank, Cortland, NY. Charter #226. PCGS Very Fine 35PPQ. An incredible rarity from a bank that is represented by only four examples, all large size, in the census of surviving National Bank Notes, this note has the added bonus of being a serial number 1 Red Seal. It's from the "D" plate position, and has outstanding pen signatures of the bank officers. Although the margins are a little tight, exhibiting a "New England" trim which isn't unusual from New York small town banks either, the paper is bright and completely original, and the colors and inks are bold and provide excellent contrast. The red overprint is particularly vivid. This "trophy note" last sold for almost $7500 in a Stacks sale back in 2010, and we expect a number of collectors to offer strong bids today. Estimate Value $8,000 - 12,000
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