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Focus on a Special National Bank Note

By Stack's Bowers Galleries

Author: Stack's Bowers Galleries / Thursday, February 14, 2019 / Categories: Highlights from the Joel R. Anderson Collection

National Bank Notes and a particularly rare example are the focus of this week’s message. Beginning in 1864 over 10,000 National Banks issued large-size federal notes with their imprints—from Alaska and Hawaii to Maine and Florida. Showcased today is a splendid highlight from the Joel R. Anderson Collection—the  finest of just four Series of 1902 Uncirculated $100 notes certified by PCGS. And it is from the West, no less—from Los Angeles, California. Across the board of all denominations, Western National Bank Notes are multiples rarer than are those from the East.

The printed catalog of the Anderson Collection sale is now being distributed, and in addition complete information is available at Stacksbowers.com. As the sale date approaches, excitement continues to build. The venue will be the ever-popular Whitman Coin & Collectibles Expo in Baltimore on Thursday evening, February 28th. You are cordially invited to attend this dynamic show and view the Anderson notes in person as well as see the many other coins, tokens, medals, and paper money in our multiple auction sales. We have been the official auctioneer of the Expo since day one. In addition to the Joel R. Anderson Collection, currency is offered in the Caine Collection (rare federal proof notes) and in another catalog. The net result is that if you are at all interested in paper money, this is the place to be. There are many buying opportunities.  

As to the Joel R. Anderson Collection sale, you are invited to attend  as it takes place, as a bidder or as an observer to see numismatic history as it is being made. Alternatively, you can view the notes on our Internet site and participate in the sale in real time as a bidder. Every note is among the very finest of its kind and some offer a unique opportunity,  as here.  Below is our catalog description:

 

Very Choice Los Angeles $100 Plain Back

Lot 4052. Los Angeles, California. $100 1902 Plain Back. Friedberg 707 (W-3593). The Pacific NB. Charter #12454. PCGS Currency Very Choice New 64 PPQ.

The portrait of John J. Knox appears at the left end of this exemplary $100 Plain Back from the Pacific National Bank of Los Angeles. Knox served as comptroller of the currency from 1872-1884 and was the architect of the Coinage Act of 1873 which discontinued the silver dollar, altered the weights of dimes, quarters and half dollars and created the trade dollar.

Bold blue overprints are found across the face, including the scalloped Treasury Seal to the lower right and single-digit serial number 7 printed at lower left and upper right. Bold hand-signed signatures of bank officers DeLong and Smith are along the bottom edge of the design. The back is printed in vibrant green and displays an eagle perched upon a patriotic shield at center flanked by flags and allegorical figures.

High grade Series of 1902 $100s are difficult to find in any form. PCGS Currency has graded just four $100 Plain Backs as Uncirculated with the present note being the finest example they have certified for the catalog number. This is a wonderful representative of the type and should have broad appeal to both type note and National Bank Note collectors.

PCGS Population: 1, none finer.

From Hickman Auctions’ sale of March 1990, lot 241; Lyn Knight’s sale of June 1997, lot 245.

Est. $15,000-$25,000