First National Bank in Santa Monica, California
Merchants National Bank of Santa Monica
large size $5
This specimen was lot 18281 in Heritage auction 354 (the Horwedel sale, Long Beach, CA, September 2004), where it sold for $575. The catalog description[1] noted, "Santa Monica, CA - $5 1902 Plain Back Fr. 598 The Merchants NB Ch. # (P)6945, The first title used by this scarce Santa Monica bank, which liquidated in 1928. Well circulated Very Good, with a bit of fraying at the top and bottom center."
large size $10, date back
This specimen was lot 10027 in Stack's Bowers August 2019 ANA - Session 4 - U.S. Currency (Chicago, August 2019), where it sold for $960. The catalog description[1] noted, "Santa Monica, California. $10 1902 Date Back. Fr. 616. The Merchants NB. Charter #6945. PMG Very Fine 25. This Charter issued large size notes only. The first title which is represented by this note, shows with a total of 11 known in the Track & Price census, with no notes grading above Very Fine. The present note is seen with good centering and bold overprints. The signatures are still visible though a tad light. Overall, a very pleasing example of this popular Southern California city."
large size $10, plain back
This specimen was lot 98156 in Stack's Bowers Collectors Choice sale (Costa Mesa, CA, September 2025), where it sold for $1,080. The catalog description[1] noted, "Santa Monica, California. $10 1902 Plain Back. Fr. 624. Merchants NB. Charter #6945. PMG Very Fine 25. Organized in 1903, the First National Bank of Santa Monica (Charter# 6945) was originally the Merchants National Bank, but dropped that title at the end of 1922. This piece can be traced to a relatively narrow period of issue on account of the title and bank/Treasury serial number format placing its issue sometime before summer 1925. The stamped signatures of Cashier C.D. Francis and President Dr. Charles Preston Thomas also remain extant in their respective panels. From the Eric Agnew Collection Part V."
large size $20, plain back
The first specimen was lot 20710 in Heritage auction 3567 (Long Beach, CA, September 2018), where it sold for $750. The catalog description[1] noted,
"Santa Monica, CA - $20 1902 Plain Back Fr. 650 The Merchants NB Ch. # (P)6945. The first title used by this scarce Santa Monica bank, with this piece one of just ten examples of all types and denominations in the census. Evenly circulated PMG Choice Fine 15, with legible stamped signatures."
The second specimen was lot 18282 in Heritage auction 354 (the Horwedel sale, Long Beach, CA, September 2004), where it sold for $1,265. The catalog description[1] noted, "Santa Monica, CA - $20 1902 Date Back Fr. 642 The Merchants NB Ch. # (P)6945, Another example bearing the first title used here, this considerably nicer than the note above. It traces its pedigree to the Colver collection, although Lowell missed it there and purchased it from our January, 2001 sale. It realized $990 in 1999 at the Colver auction, and reached $1430 when Lowell obtained it just two years later. Very Good++. From our January, 2001 sale, lot 2033, ex-Charles Colver collection sale, lot 2066."
The First National Bank of Santa Monica
large size $10
This specimen was lot 18283 in Heritage auction 354 (the Horwedel sale, Long Beach, CA, September 2004), where it sold for $1,725. The catalog description[1] noted, "Santa Monica, CA - $10 1902 Plain Back Fr. 624 The First NB Ch. # 6945. The second and much scarcer title, with a census population of just five pieces. Fine."
large size $20
The first specimen was lot 93432 in Stack's Bowers Spring 2024 Auction - Session 6 - U.S. Currency (Costa Mesa, CA, March 2024), where it sold for $504. The catalog description[1] noted, "Santa Monica, California. $20 1902 Plain Back. Fr. 650. The First NB. Charter #6945. PMG Fine 12. Hailing from a popular Southern California getaway this circulated, albeit appealing National oozes with originality. This note represents just 1 of 9 notes recorded on this bank's second title according to information compiled by the National Bank Note Census."
The second specimen was lot 10028 in Stack's Bowers August 2019 ANA - Session 4 - U.S. Currency (Chicago, August 2019), where it sold for $1,200. The catalog description[1] noted, "Santa Monica, California. $20 1902 Plain Back. Fr. 650. The Merchants NB. Charter #6945. PMG Very Fine 30. This Santa Monica $20 features the second title, with this piece one of just eight in the census. The paper remains bright and the overprints very bold. Hint of signatures are visible but very light. A wonderful pairing with the prior lot."
Link to:
- return to National Bank Notes of Los Angeles County, California
- see National Bank Notes of California for a complete list by charter number