Farmington, New Mexico. $20 1902 Plain Back. Fr. 654. The First NB. Charter #6183. PMG Choice Fine 15.Just two large size notes are reported from this rare San Juan County bank that was chartered in March of 1902. The bank first issued Series of 1902 Red Seals and Date Backs as a Territorial bank though none are reported to survive today. Later the bank would issue post-territorial Date Backs, Plain Backs and both Type-1 and Type-2 small size notes. The bank issued only the $10 and $20 denomination to the tune of $453,460 through the end of the National Currency era in 1935. At that time just $1,720 worth of large size notes remained outstanding.<p>Just one other large size note has sold at auction in the last 25 years. That note, also a $20 Plain Back, traded hands for $14,100 in a January 2013 auction. The example offered here is certainly the more attractive of the two notes though both reside in Fine 15 PMG holders. Mostly clean paper and even circulation are observed along with boldly stamped signatures in bright pink ink.
