By Peter Huntoon
Richard Deavers of Kentucky has unveiled a choice $20 type 2 sheet from The Farmers National Bank of Clay, representing the first sheet and first type 2 $20s reported from the bank. The top note is illustrated here.
This is the only type 2 $20 sheet in a numismatic collection, although two others have been spotted in other Kentucky banks.
Uncut Series of 1929 Kentucky sheets are tough. Only a dozen of both types are reported with but five in collections.
The Clay bank was small, having a circulation of $50,000, in a small town of about 1,200 people in western Kentucky northeast of Paducah.
Originally the town was named Ashland after Henry Clay’s estate, which is located across the state. The name was changed to Clay in 1854 in order to more appropriately honor the historically significant influential politician who lost the Presidential election to Andrew Jackson.
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