Los Angeles National Bank, California
This specimen was lot 20186 in Stack's Bowers ANA sale (Chicago, August 2024), where it sold for $2,280. The catalog description[1] noted, "Los Angeles, California. $10 1902 Red Seal. Fr-613. Los Angeles NB. Charter #2938. PMG Very Fine 25. Overshadowed by institutions like the First National Bank (Charter# 2941) and a victim to the stark architecture of redemption, the Los Angeles National Bank is a bank where the surviving notes stand in stark contrast to a substantial circulation. Issued between 1903 and 1905 when this bank had achieved a circulation of almost $500,000, one would be remiss not to expect a sizable population of outstanding notes. Alas, the harsh realities of redemption rear their ugly heads once again. Out of tens of thousands of notes issued by this rather prolific bank; just six examples are recorded by the National Bank Note Census against $1,936,290 issued from 1883 to 1905. A rare note even if that were in doubt, this example would make for an excellent addition to any California-focused collection." This note was previously lot 17828 in Heritage auction 354 (the Horwedel sale, Long Beach, CA, September 2004), where it sold for $5,520.
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