Red Oak, Iowa. $1 Original. Fr. 382a. The First NB. Charter #2130. PCGS Currency Very Fine 25 PPQ.When we last sold this note in our 2010 Americana sale, we described it as A very attractive note without any visible flaws worthy of specific mention. The color is even and nice for the grade, while both sides are well centered and generously margined all around. Autographed signatures are clear. Although later notes are known from this bank, earlier types are very scarce, and Original Series and Series of 1875 of any denomination are all but unheard of! The Track and Price database includes only a single auction appearance of an Original Series note on this title, a VF Serial #1 $5 sold in 2008, for an incredible $138,000. To this must be added the last appearance of this note in 2003, but beyond that there is nothing. This note is one of just two Original Series aces on the bank, and clearly an important rarity. We would not be at all surprised to see the previous record smashed by a country mile-a great note that deserves it, as it is irreplaceable! It sold for just a touch over $6,000 and there have been no offers of any Ace since. With the demand for rare first chartered notes, we expect this note to easily reach or exceed our estimate.
