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Unique Rhyolite $10 tops sale

A recently surfaced $10 note on The First National Bank of Rhyolite, Nev., charter P8686 (featured on the cover of the September 2015 issue of Bank Note Reporter) was the top lot in Lyn Knight Currency Auctions’ PCDA 2015 sale, Nov. 19-21 in Rosemont, Ill.

The unique Fr. 618 1902 Blue Seal Date Back went for a hammer price of $220,000 in VF/EF, the cataloger noting that “Until this important discovery, no national bank notes were known to have survived from the First National Bank of Rhyolite although decades of determined collectors have tried to find one, to no avail.”

This unique Rhyolite $10 brought $220,000 in Lyn Knight’s recent PCDA auction.

This unique Rhyolite $10 brought $220,000 in Lyn Knight’s recent PCDA auction.

Prices listed here do not include the buyer’s premium of 17.50 to 20 percent.The First National Bank of Rhyolite received its charter on May 14, 1907 with a capital of $50,000. The bank circulated only two types of National Bank Notes: Series of 1902 Red Seals and Series of 1902 Blue Seal Date Backs for a total value of $30,640. Today Rhyolite, located near Las Vegas, is a famous ghost town.

Selling for $130,000 was a $20 First National Bank of Denver, Colorado Territory Original Series No. 1, charter 1016, Fr. 427. The VF/EF-graded note “is one of only three Original Series #1 $20 First Charters and of course the only Territorial.”

This note was last offered by Barney Bluestone as part of the June 16, 1945 sale of the Grinnell Collection.

Bringing a like amount was a $10 First National Bank of Denver, Colorado Territory Original Series No. 1, charter 1016, Fr. 412. “This $10 Original has a blue Treasury number and red serial #1 and it is the first note known with this combination.”

Check out the latest issue of Numismatic News Express here!

Check out the latest issue of Numismatic News Express here!

It was graded VF/EF with the cataloger observing that “There are only 10 Original Series #1 Territorials and while five are on this Denver bank, this is the only #1 Original Series Territorial known to survive.”

Other top lots included:

• 1905 $20 “Technicolor” Gold Certificate, Fr. 1180, PCGS Superb Gem New 67 PPQ, $75,000.

• 1922 $1,000 Gold Certificate, Fr. 1220, “tied for finest graded,” PCGS Choice About New 55, $72,500.

• 1882 Date Back $5 The First National Bank of Central City, Colo., serial No. 1, charter W2129, Fr. 534, VF, $55,000.

• 1918 $1,000 Federal Reserve Note Atlanta, Fr. 1133b-F, PCGS VF 25, $42,000.

• 1918 $1,000 Cleveland, Fr. 1133d, PCGS Choice About New 58, $42,000.

For additional information, visit www.lynknight.com.

This article was originally printed in Bank Note Reporter.
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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.
• Come on down to the Chicago International Coin Fair in Rosemont, Ill. on April 14 to 17, 2016 to see impressive world coins, meet new collectors and participate in Heritage Auction’s fantastic coin auction.

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