First National Bank of Elsinore, California
large size $10
This specimen was lot 10314 in Stack's Bowers November 2019 Baltimore - Session 5 - U.S. Currency (Baltimore, November 2019), where it sold for $14,400. The catalog description[1] noted,
"Newly Discovered Serial Number 1 Elsinore Ten, Elsinore, California. $10 1902 Plain Back. Fr. 633. The First NB. Charter #11922. PMG Choice Uncirculated 63. Serial Number 1. A wonderful new discovery note that comes to us from this rare Riverside County bank. This serial number 1 $10 Plain Back becomes just the fifth large size note known on the bank. No other large size serial number 1 notes are reported. Despite a total issuance of $264,900 (including both large and small size), by 1935 only $1240 worth of large notes were outstanding on the charter. The bank was chartered in 1921 and issued Series of 1902 Plain Backs as well as Type-1 and Type-2 small size notes in denominations of $10 and $20 through the end of the National Currency era.
The note comes bright, sharply printed and fully framed. Boldly penned issuing manuscripts are found in the signature panels. The all important serial number 1 is prominently displayed in the panel in the bottom left of the note. Original overprint embossing is easily observed from the back of the note. PMG comments "Previously Mounted" on the back of the holder, though any mounting residue appears limited to the margins of the note. This is an exciting new offering from well collected Southern California and a note that should enjoy considerable bidder interest when it crosses the block."
small size $10, type I
This specimen was lot 17695 in Heritage auction 354 (the Horwedel sale, Long Beach, CA, September 2004), where it sold for $1,955. The catalog description[1] noted, "Elsinore, CA - $10 1929 Ty. 1 The First NB Ch. # 11922, A rather scarce Riverside County bank with only eight offerings among our records enumerating over 285,000 appearances of Nationals at public sale during the past sixty years. This Type 1 example bears the first type font used by the bank. Fine."
small size $10, type II
This specimen was lot 17696 in Heritage auction 354 (the Horwedel sale, Long Beach, CA, September 2004), where it sold for $2,875. The catalog description[1] noted, "Elsinore, CA - $10 1929 Ty. 2 The First NB Ch. # 11922, A nice grade example which displays the second type style used on Series 1929 examples from here. This is the only Type 2 note reported from here in any denomination as well. Nice Very Fine."
Link to:
- return to National Bank Notes of Riverside County, California
- see National Bank Notes of California for a complete list by charter number