Lincoln, Illinois. $5 1875. Fr. 402. The First NB. Charter #2126. PMG Choice Uncirculated 64.Darkly printed inks provide vivid detail to this ornate First Charter $5 design. This crisp example is fully margined and displays bright paper and bold red overprint inks. The First National Bank was chartered in August of 1873 and issued $878,800 in notes before liquidating in January of 1923. In 1853 Lincoln, Illinois became the first town to be named for Abraham Lincoln who assisted in the platting of the town and had worked as council for the new railroad that led to its founding. Lincoln participated in the naming ceremony for the town and scoffed at the idea of naming the town for him. Local legend says he responded to the suggestion with "Nothing bearing the name of Lincoln ever amounted to much." The grading service comments "Pinholes" on the back of the holder. Any such pinholes are difficult to detect in the holder.From the John Whitney Walter Collection.
