San Francisco, California. $5 1870. Friedberg 1136. The First National Gold Bank. Charter #1741. PMG Choice Very Fine 35. Full margins and boldly printed inks are displayed by this modestly circulated National Gold Bank Note issued by the First National Gold Bank of San Francisco. This is one of the most attractive examples of this scarce design type that we have seen. The face has motifs similar to Original and Series of 1875 $5 National Bank notes with <em>Columbus in Sight of Land</em> at left and <em>America Presented to the Old World</em> at right. The red overprints are in their same locations with the red spiked Treasury Seal at right. Engraved signatures of Allison and Spinner are at center while neatly penned bank officers signatures are at lower left and right.One of the most notable features of these notes is the gold coin vignette that graces the back. It is often well worn with heavy folds distracting from the near photographic detail of the engraving. Such is not the case on this example, as the central vignette is seen sharply detailed in vivid inks. The few light folds that cross the design do little to detract from the intricate details of the coins. PMG has graded no $5 National Gold Bank Note higher than Extremely Fine 40 EPQ and only a single example has achieved that level. The service has only graded two examples of the type finer than the Pogue specimen. This is a wonderful example for the type that would fit well in even the most elite collection.
