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 Replies: 15 / Views: 4,884 |
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New Member
United States
5 Posts |
Hello- Please forgive my nativity as I'm new to this but my husband and I found these old bank exchange notes in our closet. We aren't sure what to do with them, if anything. Can someone please help me figure out what we should do? I've uploaded 2 pictures. These accompanied a note that said "Transfer agent and registrar for Wells, Fargo & Co -- Manufacturers Hanover Trust & Co. of CA San Francisco". Thank you for your help. Best regards   *** Moved by Staff moved to a more appropriate forum. *** |
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Bedrock of the Community
United States
94367 Posts |
I'll wait for the experts, but -  to the CCF! |
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Rest in Peace
10197 Posts |
I see gold in them thar' hills! said the prospector to the hopeful entrepreneur... my first thought was an assay office exchange. May have to do some research on the banks and person involved. A good history mystery!
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Moderator
 United States
187446 Posts |
to the Community! |
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Pillar of the Community
United States
7613 Posts |
I looked up Lucas Turner and Co and they were only in business about three years before going bankrupt. They were on Montgomery St in San Francisco...the building is still there. Maybe some of the obsolete currency or check collectors will chime in. |
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Bedrock of the Community
 United States
12477 Posts |
Those are interesting for sure. I am no expert in the area, so it's  for me... In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Pillar of the Community
Canada
586 Posts |
Interesting indeed. A dealer did a show and tell on these bank exchange notes at my coin club meeting last month. These were like promise to pay back receipts. There value is almost zero, but as the dealer explained. Like tokens, people my turn to these in the future because of the fact they are more economically accessible and if that happens, like tokens the values will rise.
These bank exchange notes do have some interesting stories behind them. Some of the signatures are of some interesting important historical figures. Some of them have more then one signature of that person. They are not very collectible at the moment and they are easily found, but I would hold on to them. The dealer said he found that the cities and there museums or the city halls were interested in the material because of the people who loaned the money and there signatures. Most of the banks are no longer around or nor were they around for a long time.
As mentioned above some of these people helped fund the construction of what we see today.
The dealer was saying he picks them up for $1 a item and sometimes he gets them free. I would be willing to pay the $1 a item, just so I could do the research on the items.
Edited by TheBurnz
03/02/2018 2:49 pm
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Pillar of the Community
United States
822 Posts |
Oh no no! These are worth far more than $1 each! Wells Fargo items in particular are highly sought after. These are both bills of exchange from the peak of the California Gold Rush. I wouldn't say for certain they are authentic without seeing them, but they definitely appear genuine. There are plenty of collectors for this type of Western material. Thumbnail estimate would be in the $50 range each, retail. Maybe Techwriter can provide more info.
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Pillar of the Community
United States
5029 Posts |
Indeed, if real, they are worth far more than a dollar each. The gold rush era and western items are always a sought after item as Greg said. tech should be along at some point to chime in as these type items are in his wheelhouse for sure. Edited by scopru
03/03/2018 08:01 am
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Pillar of the Community
United States
1285 Posts |
Well, to my friends GregAlex and scorpu I hope I can add something positive to this discussion. Number 1: YES, the items are worth more than $1.00 Number 2: yes, items from this era are collectible and sought after by collectors, myself included. Number 3: items similar to the Wells Fargo item are currently listed on ebay at various prices; with some items redeemable in currency others in gold coin. Number 4: Let's now look at this item:  Marvelous item!! and lots of history associated with them banking house(s) of Lucas and Turner and particularly with the names which appear in the scroll on the right edge:  The HENRY S TURNER is the Turner of Lucas and Turner. The Benjamin S Nesbit is the officer left in charge in San Francisco when the office closed. == And finally: the Wm T. SHERMAN is none other than Union General William Tecumseh Sherman (of Sherman's march to the sea fame) I could go on for pages about Sherman and his career, before and after the Civil War. Let me recommend a couple of books: 1. Sherman: A Soldier's Passion for Order, John F. Marszalek 2. William Tecumseh Sherman: In Service of My Country: A Life, James Lee McDonough == and a couple of websites: https://noehill.com/sf/landmarks/sf026.asphttps://cdnc.ucr.edu/cgi-bin/cdnc?a...xIN--------1https://www.abebooks.com/servlet/Se...herman&isbn=https://www.abebooks.com/servlet/Se...n=&kn=&isbn=Isn't it just amazing what history one can find in a single piece of paper. Final note: IF you ever decide to part with the item, please let me know.  Edited by techwriter
03/03/2018 10:31 am
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Pillar of the Community
Canada
586 Posts |
I agree with the above on some exchange notes that have some relevance to popular collectable events or time periods. My statement was for the majority of these exchange notes are from banks you never heard of and places you never heard of. Like coins and bank notes some are worth more then others.
Are we allowed to buy things of new members? I thought we had to wait until 50 posts.
My statement of them not being very collectable is directed to the population of collectors. Its a very small population in correlation to coin collecting. I stand by my referral that these should be held onto until the market sees them in a at par level to coins and paper money and not to just to history buffs.
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New Member
 United States
5 Posts |
Thank you everyone for your response. We found a binder full bank notes from the US and around the world and a bunch of coins in the back of our closet. We inherited the collection from a great grandfather. We don't know anything about what we have. I really appreciate you all helping me out. Edited by nstrother
03/03/2018 3:22 pm
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Pillar of the Community
United States
1285 Posts |
nstrother, May I suggest a few options for you: 1. Inventory what you have as best you can, make several copies; and photos are always welcome. 2. If you have a local coin club by all means visit and get to know the folks and you may find a resource or two who can assist you. 3. Visit your local coin shop(s).. 4. Visit/Contact some of our CCF member sites. 5. Post more question here. 6. Visit your local library and see what numismatic reference material they have available. Best wishes for your searching/hunting efforts. Oh, and pardon my manners as I forgot:
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New Member
United States
5 Posts |
@techwriter- Thank you so much for your help. I've started cataloging everything we have. I've also reached out to the closest coin/bank note collection groups to me. Thanks again! -Nicole |
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Pillar of the Community
United States
1285 Posts |
@nstrother, excellent, glad to hear it and wish you well. If we can be of any further assistance don't hesitate to post or email. Oh, I mentioned Wells Fargo checks: here's one that is stamped "In U.S. Gold Coin" and sold for $25 on ebay.  |
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Pillar of the Community
United States
5029 Posts |
Great information tech!  |
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Replies: 15 / Views: 4,884 |
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Posted 03/01/2018 5:48 pm
