Archives International Auctions Auction 103 June 11, 2025

Archives International Auctions - Sale 103 67 June 11, 2025 Archives International Auctions www.archivesinternational.com U.S. Large Type - National Banknotes California. U.S. First National Gold Bank, San Francisco, 1870 $5 National Bank Note 294 294 CA. $5, 1870, First National Gold Bank, San Francisco, Ch# 1741, Fr#1136, Issued National Bank Note. San Francisco, CA., 1870, $5, Fr#1136, Ch#1741, Issued banknote, Black on off white paper with excellent margins, Allison | Spinner signatures, S/N K276610 / 7473 pp B. This exceptional banknote, graded Very Fine 25 by PMG, remains one of the finer survivors from its era. Its vibrant coloration, and remarkable preservation set it apart from others that experienced more extensive circulation. The vignettes, including Columbus in Sight of Land and America Presented to the Old World, retain exceptional detail, with the reverse vignette, engraved by James Smillie, offering intricate depictions of individual coins that appear almost photographic in their clarity. Issued during the 1870s and early 1880s, National Gold Bank Notes like this one were introduced into a California economy that still operated on a specie- based system, where gold-backed currency was essential. However, with the resumption of specie payments across the United States in 1879, notes like this became less necessary. By 1884, most National Gold Banks had either converted to national charters or liquidated. This specimen, from the First National Gold Bank of San Francisco (Charter #1741), stands out among its peers, this piece exhibits superior eye appeal for its grade. The bold Treasury Seal and charter number, alongside signatures from officials who served between 1878 and 1882, place this note firmly within the era of California’s unique currency, making it an important relic of the period. �� Est. $12000-15000