First National Bank of Coachella, California
large size $5
This specimen was lot 20293 in Heritage auction 3574 (Long Beach, CA, September 2019), where it sold for $7,200. The catalog description[1] noted,
"Second Reported Coachella Large Size Coachella, CA - $5 1902 Plain Back Fr. 602 The First NB Ch. # 10292 PMG Choice Very Fine 35. One of the great California rarities, as this bank has just one large reported and was one of the smallest issuers in the state for Series 1929 examples. Tonight's wonderful offering is just the second large to surface from this one bank community that, in large size, eluded all of the great California collectors including Krakover, Colver, and Horwedel. Fortuitously, this great note is as pretty as it is rare with light, even wear and just a few insignificant rust specks. It also features the purple stamped signatures of H.A. Westerfield and J.M Westerfield, who were members of a prominent Inland Empire banking family. With the other large note, a raw Very Fine, selling at auction last year for over $12,000, this may well be the last opportunity for decades for any collector to add a large note from here to his or her collection. From the Norris Turner Collection."
small size $5
This specimen was lot 17654 in Heritage auction 354 (the Horwedel sale, Long Beach, CA, September 2004), where it sold for $8,337.50. The catalog description[1] noted, "Second Offering In Sixty Years, Coachella, CA - $5 1929 Ty. 1 The First NB Ch. # 10292, One of the great California small size rarities, as this bank is unknown in large and was one of the smallest issuers in the state for Series 1929 examples. Just three notes are recorded from this one bank Riverside County community, with this only the second offering of any kind from here in over sixty years. With the other two notes now locked away in major California holdings, this may well be the last opportunity for decades for any collector to add a note from here to his or her collection. Pleasing Fine." This specimen was lot 20294 in Heritage auction 3574 (Norris Turner Collection, Long Beach, CA, September 2019), where it sold for $2,880.
Link to:
- return to National Bank Notes of Riverside County, California
- see National Bank Notes of California for a complete list by charter number