First National Bank of Compton, California
large size $10
The first specimen was lot 20225 in Stack's Bowers Spring 2024 Auction - Session 6 - U.S. Currency (Costa Mesa, CA, March 2024), where it sold for $2,280. The catalog description[1] noted, "Compton, California. $10 1902 Plain Back. Fr. 625. The First NB. Charter #8085. PMG Choice Fine 15. A highly rare and sought after Southern California charter, this note is just 1 of 5 recorded by the National Bank Note Census and 1 of 7 enumerated by Track & Price. Even circulation is observed and commensurate for the assigned grade, penned signatures of Cashier E. E. Elliott and President Frank L. Walton are plainly legible and extant. Public offerings of this charter are scarce regardless, and for the California specialist, a rare opportunity to acquire a scarce charter that makes infrequent appearances on the auction circuit at best." This note was previously lot 17660 in Heritage auction 354 (the Horwedel sale, Long Beach, CA, September 2004), where it sold for $3,680.
The second specimen was lot 20365 in Stack's Bowers Baltimore Auction (Baltimore, March 2018), where it sold for $4,320. The catalog description[1] noted, "Rare and Finest Known First National Bank of Compton, Compton, California. $10 1902 Plain Back. Fr. 625. The First NB. Charter #8085. PMG Very Fine 30. A highly important California offering and this impressive Very Fine note is the finest of just six known on this Los Angeles County charter. The circulation is light and even while the penned banking signatures remain strong. Lovely detail throughout the familiar $10 design and the last record Track and Price shows for a piece selling publicly was a 2004 sale of another $10 plain back which brought $3,680 in a Fine grade. We would not be surprised if this lovely Very Fine doubled that price."
large size $20
This specimen was lot 17661 in Heritage auction 354 (the Horwedel sale, Long Beach, CA, September 2004), where it sold for $3,910. The catalog description[1] noted, "Compton, CA - $20 1902 Plain Back Fr. 651 The First NB Ch. # 8085, A pleasing note which is the only $20 reported from this one bank location. Nice Fine-Very Fine, with purple stamp signatures. From R.M. Smythe's June, 2000 sale, lot 2390."
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