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 Replies: 12 / Views: 3,497 |
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Pillar of the Community
United States
4409 Posts |
One early national bank in the state of Iowa was the First National Bank of Leon granted Charter number 1696. This was the last of the of eight banks granted a federal charter in 1869. (Source 1) The bank received $22,000 in currency by returning $2,000 in obsolete banknotes as well as obtained a $20,000 transfer from the Metropolitan National Bank of New York City. (Source 2) I believe evidence supports that the first notes printed and issued were 1,100 sheets of $5's. These bankers chose to issue $1, $2, $5, $50 and $100's in the Original Series. When the Series of 1875 commenced the bankers elected to issue only $50's and $100's. One can see proofs of the $5, $50 and $100's thanks to the Smithsonian digitizing their holdings.  On July 11, 1876, the bank was liquidated as it had been bought out by Lyman P. Sigler and two associates. These gentlemen changed the name to The Farmers' and Traders' Bank. The only notes to surface from this bank are a pair of an Original Series deuces. Bank serial number 831 sold for almost $7,000 in 2002. Bank serial number 909 popped up in a Google image search.    Sources: 1. Friedberg and Friedberg Paper Money of the United State 18th Edition 2005 page 76 2. https://books.google.com/books?id=0...IOWA&f=false3. Smithsonian National Museum of American History, Iowa Proofs Box 1, Pages 170-171. |
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Pillar of the Community
United States
4637 Posts |
Nice write up @MeadowviewCollector.
I really like the upper shown Lazy Deuce.....I'd like to own one.
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Bedrock of the Community
United States
94367 Posts |
Me too!
Nice job as always, MVC.
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Rest in Peace
United States
17900 Posts |
Even though I don't collect currency I very much appreciated your excellent offering.
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Bedrock of the Community
United States
11951 Posts |
Amazing group of notes.
Maybe someday I will pick up a Lazy Deuce
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Pillar of the Community
 United States
4409 Posts |
Thanks for the kind words and interest shown in these summaries---it is always a good feeling to know others enjoy reading them.
-MV
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Bedrock of the Community
United States
94367 Posts |
MV - Tell us how you choose your subjects!
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Pillar of the Community
United States
4409 Posts |
Sure CoinFrog
I either own a note or piece associated with the bank. While researching another topic I come across information that I think is interesting and perhaps others might enjoy learning about.
I had a teacher whose home town was Leon. I decided to investigate the earliest national bank in this town.
I think composing and sharing these shows that there are other aspects of currency than just the serial numbers.
-MV
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Bedrock of the Community
United States
94367 Posts |
Thanks and well said.  |
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New Member
United States
26 Posts |
Great research. I am currently looking at our oldest bank in my hometown and I am trying to track those banknotes down.
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Pillar of the Community
United States
4409 Posts |
I was looking over the upcoming Lyn Knight PCDA Sale next month and one of the lots on the first page for Iowa nationals was Lot# 45794 FNB of Leon, Iowa serial number 909.
Serial # 909 sold before two years ago according to the lot description (circa 2017?) for $16,450. I wasn't aware one had sold more recently than 2002. Nor do I know which firm sold it two years ago.
It has been graded by PMG as VF30 NET comments of: minor restoration. The lower left corner has been added back.
Anyway, will remain forever out of my price range yet I can still appreciate the note regardless.
-MV
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Pillar of the Community
United States
1339 Posts |
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Bedrock of the Community
United States
94367 Posts |
MV is the honorary historian on the Paper Money Forum.
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Replies: 12 / Views: 3,497 |
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Posted 11/11/2016 5:53 pm
