First National Bank of Garden Grove, California
large size $5
The first note was lot 2658 in Goldberg sale 62 (Beverly Hills, February 2010), where it sold for $1,035. The catalog description[1] noted, "1902, $5 National Bank Note. The First NB, Garden Grove, CA. PCGS Fine 15. Amazingly, of the less than one dozen examples currently known from this one-bank town, this Orange County collection contains six of them. This is a problem-free example."
The second note was lot 2659 in Goldberg sale 62 (Beverly Hills, February 2010), where it sold for $1,955. The catalog description[1] noted, "1902, $5 National Bank Note. The First NB, Garden Grove. PCGS Fine 15. Garden Grove was founded by Alonzo Cook in 1874. It remained a small rural crossroads until the arrival of the railroad in 1905. The First National Bank was chartered in 1918, and remained the only bank in town during the National Bank Note issuing period. This solid circulated example is a pleasing Fine-VF $5 with strong stamped signatures, and is one of just 10 large size notes reported in the census. This note is pedigreed to the Kansas City Collection, and when last sold, in January 2008, it realized nearly $1,500." This specimen was subsequently lot 20328 in Heritage auction 3563 (Chicago, April 2018), where it sold for $1,080.
The third note was lot 2660 in Goldberg sale 62 (Beverly Hills, February 2010), where it sold for $1,437.50. The catalog description[1] noted, "1902, $5 National Bank Note. The First NB, Garden Grove, CA. PCGS Fine 12. Yet another example from here, this a little lower grade but free of any major distractions."
The fourth note was lot 2661 in Goldberg sale 62 (Beverly Hills, February 2010), where it sold for $661.25. The catalog description[1] noted, "1902, $5 National Bank Note. The First NB, Garden Grove, CA. PCGS Apparent Very Fine 20. There is a touch of old, minor mounting residue along the bottom edge of this note, as notated by PCGS Currency on their holder, otherwise this is a crisp, decent looking example."
The fifth note was lot 2662 in Goldberg sale 62 (Beverly Hills, February 2010), where it sold for $529. The catalog description[1] noted, "1902, $5 National Bank Note. The First NB, Garden Grove, CA. PCGS Apparent Fine 12. There is a small piece missing from the edge at the bottom right, as well as a small edge tear at right; both minor flaws are mentioned by PCGS Currency. Otherwise, this example is a decent enough example from here." This note was offered again as lot 1251 in Goldberg sale 96, where it sold for $504.
small size $5, type I
The first note was lot 2689 in Goldberg sale 62 (Beverly Hills, February 2010), where it sold for $2,127.50. The catalog description[1] noted, "1929, $5 National Bank Note. The First NB, Garden Grove, CA. PCGS Very Fine 20. Amazingly, of the only seven known small size notes from here, four are included in the Pannier Collection and are available today."
The second note was lot 2692 in Goldberg sale 62 (Beverly Hills, February 2010), where it sold for $1,063.75. The catalog description[1] noted, "1929, $5 National Bank Note. The First NB, Garden Grove, CA. PCGS Fine 12. Don't be deceived by the appearance of so many notes from here in this sale--another opportunity to own a note from this location may not appear for quite some time as most scarce California Nationals tend to be tightly held in collections for many years." This note was previously lot 17733 in Heritage auction 354 (the Horwedel sale, Long Beach, CA, September 2004), where it sold for $4,600.
small size $5, type II
The seventh note was lot 2691 in Goldberg sale 62 (Beverly Hills, February 2010), where it sold for $1,380. The catalog description[1] noted, "1929, $5 National Bank Note. The First NB, Garden Grove, CA. PCGS Fine 15. This is one of only two known Type 2 $5s from here."
Catalog reference: large size: Fr-606, KL-1163; small size type I: Fr-1800-1, KL-1170; small size type II: Fr-1800-2, KL-1171.
- [1]Goldberg, Ira, and Larry Goldberg, Goldberg Sale 62: the Pre-Long Beach Sale, Beverly Hills: Goldberg Coins and Collectibles, 2011.
Link to:
- Coins and currency dated 1902
- return to National Bank Notes of Orange County, California
- see National Bank Notes of California for a complete list by charter number