Torrance National Bank, California
small size $5
This specimen was lot 18324 in Heritage auction 354 (the Horwedel sale, Long Beach, CA, September 2004), where it sold for $2,990. The catalog description[1] noted, "One of Two Known, Torrance, CA - $5 1929 Ty. 2 Torrance NB Ch. # 14202. This is one of the great notes of the Horwedel collection, coming from a bank which issued just a handful of examples at the very depths of the Great Depression for under one year before the note issuing period ended. Just two examples are known, this piece, which was the discovery note from the bank, and one other, a one grade better specimen which was sold at this year's Memphis sale for $6900. Very Good, with a bit of margin fraying at the top that affects little. Acquired from Currency Auctions of America's June, 1994 sale, lot 2168."
small size $10
This specimen was lot 20251 in Stack's Bowers ANA sale (Chicago, August 2024), where it sold for $10,800. The catalog description[1] noted,
"Rare Uncut Sheet from a Short-Lived Los Angeles County Charter, The Sole Example of this Denomination Available to Collectors, Uncut Sheet of (6) Torrance, California. $10 1929 Ty. 2. Fr-1801-2. Torrance NB. Charter #14202. PMG Very Fine 30. Serial Numbers 1-6. Chartered in 1934 towards the very end of the National-Banking-era, the Torrance NB succeeded the First National Bank of Torrance (Charter# 10396) and assumed its circulation. Issuing a miniscule total of $18,500 before the end of the program in 1935, notes from this institution are prohibitively rare with three notes currently recorded by the National Bank Note Census. Among those a pair of $5s and a single $20 graded by PMG are enumerated. A unique item without a comparable equal, this sheet will likely amount to the only chance a collector will have barring another unlikely discovery to acquire a representative of this denomination from this prohibitively rare Los Angeles County institution. Even though the discovery of this sheet along with its $20 counterpart will significantly increase the surviving population of notes from this institution, the reality of acquiring a note from this charter will remain the same as the population of individual notes will remain unchanged. A rare opportunity along with its $20 counterpart, the opportunity to acquire this proverbial trophy will be fleeting indeed as this sheet will undoubtedly find its way to an advanced collection of California Nationals where it will likely remain for years and possibly decades."
small size $20
This specimen was lot 20252 in Stack's Bowers ANA sale (Chicago, August 2024), where it sold for $10,800. The catalog description[1] noted, "Discovery Uncut Sheet from the Torrance NB, Rare Los Angeles County Bank, Uncut Sheet of (6) Torrance, California. $20 1929 Ty. 2. Fr-1802-2. Torrance NB. Charter #14202. PMG Very Fine 30. Serial Numbers 1-6. A prohibitively rare Southern California charter with a total of 3 notes are currently recorded on this institution by the National Bank Note Census. Of those notes, a single $20 is recorded here and has since been graded by PMG. Thanks to the foresight of some bank employee, this impressive item has been preserved for posterity even when so many comparable sheets have been lost to time and the elements. Even though the discovery of this sheet will substantially increase the individual population count for this charter as a whole; the calculus for individual notes will remain the same while this sheet will likely find its place in an advanced collection of California Nationals. A rare opportunity along with its $10 counterpart for the lucky collector to remove this prohibitively rare charter from their want list. PMG Comments 'Annotation.'"
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