First National Bank of Hermosa Beach, California

Hermosa Beach in 1939

large size notes

from the Stack's Bowers 2024 ANA sale, lot 20178

This specimen was lot 20178 in Stack's Bowers ANA sale (Chicago, August 2024), where it sold for $1,020. The catalog description^[1] noted, "Hermosa Beach, California. $20 1902 Plain Back. Fr. 661. First NB. Charter #12209. PMG Fine 12. Representing the other half of the 20 notes recorded by the National Bank Note Census on this seaside community overlooking the Pacific Ocean; this example is one of 10 large size Nationals recorded. Featuring the extant signatures of Cashier G.S. Thatcher and President R.E. Matteson and a relatively low bank serial number of 47, it would stand to reason that this note was most likely among the first shipment of notes ever delivered to the bank not long after chartering in 1922. A rare note in any respect; this piece would do well in building a solid foundation for an expansive collection of California Nationals."

small size notes

Stack's Bowers March 2017 sale, lot 10493

This specimen was lot 10493 in Stack's Bowers sale (Baltimore, March 2017), where it sold for $6,462.50. The catalog description noted, "Finest Known Small-Size First National Bank of Hermosa Beach National. Hermosa Beach, California. $10 1929 Ty. 1. The First NB. Charter #12209. PMG Choice Very Fine 35 EPQ. A stunning example of this Los Angeles County note on Hermosa Beach which is the finest available of just nine small-size notes per the Track and Price census. The note has all the appeal of a higher grade with circulation so subtle it is only observed under scrutiny. The last small-size note to sell was a PMG Very Fine 20 graded $10 note that realized $3,290 in an April 2016 sale. An offering that may well prove our estimate conservative."

Catalog reference: Fr. 1801-1.

from the Stack's Bowers 2024 ANA sale, lot 20179

This specimen was lot 20179 in Stack's Bowers ANA sale (Chicago, August 2024), where it sold for $1,800. The catalog description^[1] noted, "Hermosa Beach, California. $20 1929 Ty. 1. Fr. 1802-1. First NB. Charter #12209. PMG Very Fine 25. Hailing from one of a number of beach-side resort towns in the Greater Los Angeles area; the town of Hermosa Beach is represented by 20 notes recorded in the National Bank Note Census. Representative of that figure, this example is just one of five Type 1 $20s recorded and 10 small size notes overall. First chartered in 1922 the First National Bank led a rather unremarkable life before falling victim to receivership likely as a result of the Great Depression in December of 1932. A remainder of that rather unremarkable life; this note is nonetheless a tangible numismatic legacy of this idyllic locale situated on the shores of the Pacific."

Source:

• Arthur L. and Ira S. Friedberg, Paper Money of the United States, 17th Ed., Clifton, NJ: Coin and Currency Institute, 2004.

Link to:

• Coins and currency dated 1902
• Coins and currency dated 1929
• return to National Bank Notes of Los Angeles County, California

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