First National Bank of Downey, California

Downey from a 1939 street map

Heritage sale 354, lot 17687

large size $20

The first specimen was lot 17687 in Heritage sale 354 (Long Beach, September 2004), where it sold for $6,900. The catalog description noted, "Large Size Downey Note- One of Two Known. Downey, CA - $20 1902 Plain Back Fr. 659 The First NB Ch. # 11701. This is one of only two large examples from this Los Angeles County bank listed in the census, and, fortunately for collectors, it's by far the nicer of the pair. The Colver example, grading only Very Good+, realized over $3000 more than five years ago, and, with only $720 outstanding from here in large, it may be a long wait until any others are discovered. Bright Very Fine."

small size $10, type I

Scotsman Midwest Summer sale, lot 70

The second specimen was lot 70 in Scotsman's Midwest Summer Sale (St. Louis, July 2012), where it sold for $____. The catalog description noted, "1929 $10.00. Downey, CA Charter# 11701 Ty. 1. VG. Scarce note on a Los Angeles County one-bank town. Only ten are reported, this example showing not too much wear for VG, but the eye-appeal is downgraded by some brown stains freckling the portrait area and far right side."

small size $10, type II

Heritage sale 386, lot 18673

The third specimen was lot 18673 in Heritage sale 386 (Long Beach, September 2005), where it sold for $1,610. The catalog description noted, "Downey, CA - $10 1929 Ty. 2 The First NB Ch. # 11701. A high grade piece which is easily the finest small note listed in the census from here. It bears the second type style used by the bank on Series 1929 examples. Very Fine+++."

small size $20

Heritage auction 354, lot 17688

This specimen was lot 17688 in Heritage auction 354 (the Horwedel sale, Long Beach, CA, September 2004), where it sold for $1,610. The catalog description^[1] noted, "Downey, CA - $20 1929 Ty. 1 The First NB Ch. # 11701, A nice evenly circulated Series 1929 example which is superior in all respects to the note from here in our California Estate collection in May, 2003 which realized $1840 against a pre-sale estimate of $650-950. Fine+++."

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