Citizens National Bank of Redlands, California
large size $5, red seal
This specimen was lot 20353 in Heritage auction 3574 (Long Beach, CA, September 2019), where it sold for $3,600. The catalog description[1] noted,
"Newly Reported Citizens NB of Redlands Red Seal, Redlands, CA - $5 1902 Red Seal Fr. 588 The Citizens NB Ch. # (P)8073 PMG Very Fine 20. A wonderful new discovery from a very rare San Bernardino County bank that is not only just the seventh note to be reported but, more importantly, the first Red Seal of any denomination. It is also just the second piece from here to be publicly offered anywhere since 2008. Fortuitously, it is also a nice note with solid paper, great color, and legible signatures. Another great California rarity that we are offering this evening.. From the Norris Turner Collection."
large size $5, date back
The first specimen was lot 18041 in Heritage auction 354 (the Horwedel sale, Long Beach, CA, September 2004), where it sold for $4,370. The catalog description[1] noted, "Redlands, CA - $5 1902 Date Back Fr. 591 The Citizens NB Ch. # (P)8073. This is Redlands' other really rare bank, with just two offerings of any kind from here during the past six decades. This bank issued Red Seals and Date Backs only before liquidating in 1916, making it most unlikely that many new examples will turn up either. We sold this then newly discovered specimen in our January, 1998 Orlando sale, where Lowell outbid the competition to take this piece home at $3685. In today's considerably stronger market, it's very possible that this price will appear to be a bargain. Nice Fine, with clear signatures."
The second specimen was lot 20354 in Heritage auction 3574 (Long Beach, CA, September 2019), where it sold for $1,680. The catalog description[1] noted,
"Redlands, CA - $5 1902 Date Back Fr. 591 The Citizens NB Ch. # (P)8073 PMG Very Fine 25. Another tough note from this short-lived Redlands bank that was only in business from 1906 until 1916, this one an appealing Date Back that, while in the census, is crossing the auction block for the first time. It displays even wear and good color with some traces of residue noted by the grading service. Included with the note is a cancelled check from the bank dated June 30, 1915. From the Norris Turner Collection."
Link to:
- return to National Bank Notes of San Bernardino County, California
- see National Bank Notes of California for a complete list by charter number