First National Bank of Olive, California
large size notes
The first note was lot 20275 in Heritage sale 3557 (Long Beach, September 2017), where it sold for $7,800. The catalog description noted, "Olive, CA - $10 1902 Plain Back Fr. 632 The First NB Ch. # 10891. One of the great town names in nationals and a rare bank in large size as well, with only five notes known, a figure which has not changed since 1990. A mere $710 was outstanding from here when the bank entered receivership in 1934. This most attractive large note from Olive traces its pedigree back to the Krakover sale and then to the Horwedel holdings which we sold in 2004. It is nice as any of the other four notes reported and will be a source of pride to its next owner. Sharp PMG Very Fine 30, with strong jet black signatures. "
The second note was lot 20276 in Heritage sale 3557 (Long Beach, September 2017), where it sold for $4,440. The catalog description noted, "Olive, CA - $20 1902 Plain Back Fr. 658 The First NB Ch. # 10891. A second appealing large size note from this rare Orange County bank, this one a $20 Plain Back that we last handled in our offering of the Charley Colver collection in May of 1999. It has a small stain in its right margin area, which has been lightened, but, otherwise, its paper is solid for the grade with good color and faint stamped signatures. PMG Very Fine 25 Net, another great California rarity."
small size notes
The first note was lot 2693 in Goldberg sale 62 (Beverly Hills, February 2010), where it sold for $5,060. The catalog description[1] noted, "1929, $10 National Bank Note. The First NB, Olive, CA. PCGS Very Fine 30PPQ. This one-bank community is today one of the smallest inhabited unincorporated areas in California. Now completely surrounded by the city of Orange, Olive was settled in 1887 and most of the existing houses date pre-1930s. Not surprisingly, notes from here are seldom seen and public sales are few and far between. This high grade example is a real "peach," and is one of the two or three finest notes known from here. It is new to the census which now stands at nine small size examples known. A similar grade piece brought more than $6,000 in the Horwedel sale in 2004, and although we don't expect quite that realization today we wouldn't be entirely surprised if it approached or exceeded that mark."
The second note was lot 2694 in Goldberg sale 62 (Beverly Hills, February 2010), where it sold for $2,990. The catalog description[1] noted, "1929, $10 National Bank Note. The First NB, Olive, CA. PCGS Fine 15. A second example from this rare village, one of the more evocative names in California Nationals."
Catalog reference: Fr-1801-1, KL-1243.
The third note was lot 2694 in Goldberg sale 62 (Beverly Hills, February 2010), where it sold for $3,660. The catalog description noted, "Olive, CA - $20 1929 Ty. 1 The First NB Ch. # 10891. Another pleasing small size note from this always popular Orange County bank, this one a $20 that made its last appearance in our May 1999 auction of the Charley Colver collection. Evenly circulated, well margined, and problem free PMG Very Fine 25."
Catalog reference: .
- [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
- Coins and currency dated 1929
- return to National Bank Notes of Orange County, California
- see National Bank Notes of California for a complete list by charter number
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