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National Bank Note discovery a miracle of survival

By Peter Huntoon

Mark Drengson just landed this discovery Series of 1902 date back note from The Boyd National Bank, Minnesota, charter 6571.

The bank was chartered Jan. 6, 1903, and liquidated Sept. 19, 1921, when it was absorbed by the Boyd State Bank. It was a minimally capitalized bank with a pocket change circulation of $6,250 that consumed 400 and 553 sheets respectively of 10-10-10-20 02DBs and 02PBs.

The note carried beautiful penned signatures of Vice President O.J. Flaa and cashier J. Flaa. Penned signed date backs are hard to come by from any bank.

At any one time, there were only about 500 of its notes in circulation; not much to choose from. The early date of liquidation for such a Midwestern agricultural bank of its type causes it to be a true miracle of survival.

Boyd is located 145 miles directly west of Minneapolis on the prairie 25 miles from the South Dakota line. The town had a population of 175 in 2010.

 

This article was originally printed in Bank Note Reporter. >> Subscribe today.

 

More Collecting Resources

• The Standard Catalog of United States Paper Money is the only annual guide that provides complete coverage of U.S. currency with today’s market prices.

• Any coin collector can tell you that a close look is necessary for accurate grading. Check out this USB microscope today!

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