Dec 5, 2023 10:00 EST
Coins, Bank Notes, Stamps & Collectibles
1148
United States West Hollywood Crescent Heights California 1902 $10 National S-1469
Estate / Collection: Property of a Four Generation California Family
1902 Third Issue, Plain Back $10 National Discovery Note of The West Hollywood National Bank of Crescent Heights California Charter 11880, Serial number 1485, signed in purple by Geo. B Mauser as President, there are a couple of barely visible handling marks, yet overall the the note is clean with nice paper quality, margins are close at top and bottom, with ample widths on the sides, Very Fine. A true rarity and a note that will command much attention.
The Crescent Heights National Bank of Crescent Heights, a subdivision of Los Angeles, became the West Hollywood National Bank of Crescent Heights, on November 20, 1922, was granted charter #11880. It was later sold to the Pacific Southwest Trust & Savings Bank on December 18, 1926. The $10 value was the only denomination issued by the bank, from the original issue of approximately 6,581 notes, only 2300 were still outstanding at the time of closure of the bank. To date, based on current information and recent research, this note is the sole survivor of the issue, and the first and only piece so far offered, publicly or privately. The note been sequestered in the loving care of the original owner for near 100 years, since it was given to her by her father, The President!
VF
Sold for $51,425
Estimated at $30,000 - $50,000
Includes Buyer's Premium
Estate / Collection: Property of a Four Generation California Family
1902 Third Issue, Plain Back $10 National Discovery Note of The West Hollywood National Bank of Crescent Heights California Charter 11880, Serial number 1485, signed in purple by Geo. B Mauser as President, there are a couple of barely visible handling marks, yet overall the the note is clean with nice paper quality, margins are close at top and bottom, with ample widths on the sides, Very Fine. A true rarity and a note that will command much attention.
The Crescent Heights National Bank of Crescent Heights, a subdivision of Los Angeles, became the West Hollywood National Bank of Crescent Heights, on November 20, 1922, was granted charter #11880. It was later sold to the Pacific Southwest Trust & Savings Bank on December 18, 1926. The $10 value was the only denomination issued by the bank, from the original issue of approximately 6,581 notes, only 2300 were still outstanding at the time of closure of the bank. To date, based on current information and recent research, this note is the sole survivor of the issue, and the first and only piece so far offered, publicly or privately. The note been sequestered in the loving care of the original owner for near 100 years, since it was given to her by her father, The President!
VF
Auction: Coins, Bank Notes, Stamps & Collectibles, Dec 5, 2023
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Successful Auction of Coins, Bank Notes, Stamps & Collectibles on December 5, 2023
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Discovery National Bank Note from California Achieves $51,425
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Sale Total Exceeds Expectations Amid Competitive Bidding
NEW YORK, NY – Doyle's auction of Coins, Bank Notes, Stamps & Collectibles on December 5, 2023 saw competitive bidding drive strong prices and a sale total that surpassed expectations. Bidders vied for U.S. and World rarities from collections in the New York area and other regions of the country.
Discovery Note from The West Hollywood National Bank of Crescent Heights
Highlighting the sale was an important discovery note -- the ONLY KNOWN National Bank note from The West Hollywood National Bank of Crescent Heights, California, Charter 11880. Determined bidders from coast to coast drove this unique note over its estimate to realize $51,425.
This exciting discovery note bears the serial number 1485 and is boldly signed by the bank president Geo B. Mauser. For almost 100 years, the note has been safely sequestered away by the daughter of the president and had never changed hands until the recent auction. Clean and crisp paper, with a few barely noticeable handling marks, the note is of high quality and near Uncirculated.
Crescent Heights is an affluent neighborhood of West Hollywood in Los Angeles county. The bank charter was formed in 1924 under the supervision of the Federal Reserve. A total of approximately $65,580 worth of $10 notes were issued. The bank closed in 1926 and was absorbed by Pacific Southwest Trust & Savings Bank of Los Angeles, at which time there were approximately 2300 notes outstanding. What happened to these remaining notes is unclear. This note, serial number 1485, is the only known example from this elusive Charter.
Other Sale Highlights
Also, of note in the Currency area was a $10 National from Punxsutawney Pa. Charter E5702 with serial #1 which sold for $6,050, group of framed Colonial notes exceed the high estimate to sell for $2,722, a nice group of Confederate and Mississippi notes sold for $1,210 and lot of Iranian note from 1937 to 1965 sold for $3,630.
The Sports Memorabilia saw strong results for a 1954 Mickey Mantle Bowman card at $2,280, a 1951 Berk Ross Hit Parade set at $3,300 and a1954 Red Heart Dog Food set at $4,235.
United States gold and silver coins were strong throughout with a 12-piece type set selling for $13,310. a 1909-O Key date $5 Indian sold for $9075, followed by an attractive 11-piece Commemorative gold set at$10,285. Numerous World gold lots selling above their high estimates.
We Invite You to Auction!
Consignments are currently being accepted for future auctions. We invite you to contact us for a complimentary auction evaluation. Our Specialists are always available to discuss the sale of a single item or an entire collection.
For information, please contact Norman Scrivener, 212-427-4141, ext 273, Coins@Doyle.com
