| Slot: |
1902 Red Seal $5 P587-P58 |
| Item: |
$5 1902 Red Seal National Bank Notes |
| Grade: |
PMG 66 EPQ |
| Cert #: |
1620924-005
|
Owner Comments
Wow!!! PMG reports that 362 Fr-587's ($5 Red Seals with Lyons and Roberts signatures as of 6/1/2019) (NOW: 391 as of 12/27/2019) have been graded. This note is graded higher than 390 of those notes!! TWO $5 red seal notes are reported at PMG 66 EPQ. This is one of those notes. How can I not love this beauty? Add to the fact that I have been chasing Ch #6301 since I love the name and diversity of Mellon signatures. I have a $5, $10 and $20 red seal from this Charter and a $5, $10 and $20 Blue Seal. This Red Seal from this private name bank which displays the signature of A. W. Mellon as President. Andrew Mellon was a successful banker, businessman and philanthropist who was appointed Secretary of the Treasury in 1921, serving for a decade under Presidents Harding, Coolidge and, Hoover. At President Roosevelt's direction, he was subjected to a grand jury proceeding by the Justice Department (the grand jury declined to indict him despite the best efforts of the Justice Department) along with a subsequent civil proceeding alleging tax fraud (which ended in his complete exoneration, albeit several months after his death). Mellon donated his fabled art collection plus $10 million to cover construction costs to the museum which became the National Gallery of Art in Washington, DC. TOP POP!
|
| Slot: |
1902 Date Back with Blue Seal $5 P590-P597 |
| Item: |
$5 1902 Date Back National Bank Notes |
| Grade: |
PMG AU 55 |
| Cert #: |
8053051-006
|
Owner Comments
The Union NB Knoxville Tennessee with Napier Burke signature. T&P lists 71 large notes from this bank. However there are only 3 Date Backs. This is one of the three and is the highest graded of the three. Oddly enough, PMG reports only 7 Fr. 596's and this is the Top Pop. Great note!
|
| Slot: |
1902 Plain Back with Blue Seal $5 P598-P612 |
| Item: |
$5 1902 Plain Back National Bank Notes |
| Grade: |
PMG 63 EPQ |
| Cert #: |
1073078-014
|
Owner Comments
Another Flynn note. It is an honor to own notes from this collector that had one of the keenest currency collecting eye I have ever observed. He was brilliant at choosing notes that cost $100,000 or more now all the way to notes that only cost a few hundred. I look at every note for sale that has was owned by Thomas Flynn. It's bound to be special. Heritage comments...
Lewistown, PA - $5 1902 Plain Back Fr. 599 The Mifflin County NB Ch. # 1579
From our sale of the Tom Flynn collection in 2008 where we said: "A bright and attractive note with plenty of original embossing visible through the third party holder. This example is by far the finest large note known from here." It still is today. PMG Choice Uncirculated 63 EPQ.
|
| Slot: |
1902 Red Seal $10 P613-P615 |
| Item: |
$10 1902 Red Seal National Bank Notes |
| Grade: |
PMG XF 40 EPQ |
| Cert #: |
1818692-001
|
Owner Comments
All of my Ch #6301 Red Seals are EPQ. This charter is a favorite because 1) the signature of the Mellon brothers and 2) the pervasiveness of the notes allowing the possibility of building a high quality set.
|
| Slot: |
1902 Date Back with Blue Seal $10 P616-P623 |
| Item: |
$10 1902 Date Back National Bank Notes |
| Grade: |
PMG 63 EPQ |
| Cert #: |
1516423-005
|
Owner Comments
I tried to moderate my consumption of nationals since it's like Pandora's Box. Once you start there are ....Large Nationals, Small Nationals, 19th Century Nationals, Turn of the Century Nationals, Brown Backs, Date Backs, Plain Backs, from hundreds of cities in every state in the Union.The combinations are daunting and endless. Plus, finding quality notes is NOT cheap. But I got hooked. So I am trying to focus on the Types....attractive examples to demonstrate the variety without getting hung on a particular city or state. This note was too tempting. A Date Back from The District of Columbia. How cool is that?! And only 2 out of 76 Fr-617's have graded higher!
|
| Slot: |
1902 Plain Back with Blue Seal $10 P624-P638 |
| Item: |
$10 1902 Plain Back National Bank Notes |
| Grade: |
PMG 66 EPQ |
| Cert #: |
1198422-003
|
Owner Comments
Low serial number 11 is found on this beauty. It has the better Woods-Tate Treasury signature combo. The April 2019 issue of Bank Note Reporter recently had an excellent description of the Woods-Tate signature combination. Only nine banks were issued the plates since this combination of Register and Treasurer lasted only 7 months. For this Charter, only 754 sheets of 3-$10 and 1-$20 were printed. That means only 3,016 notes in total. Thus, only 2,262 $10 notes were printed from this Charter with the Woods-Tate. Peter Huntoon reported that only 185,388 Woods-Tate large National Bank Notes were spread over nine banks, this being one of the banks. Since only $5, $10 & $20 notes were printed with this signature combination a quick check of the PMG population report shows that the $5 Fr # is 611 (15 graded), the $10 Fr # is 637 (8 graded) and the $20 Fr # is 663 (3 graded). This, this note is the highest graded Woods-Tate signature combination in PMG's census. Wow. I still feel lucky to have picked up, at a very reasonable price, perhaps one of the highest graded notes for this rare signature combination. Notice the date on this 1902 series is August 17, 1928. That was the date for the organization of the bank. The Dunbar was founded by the Rockefeller family to provide banking services to the residents of Harlem. It was only one of two banks managed by African-Americans in the National Banknote era. Over 14,000+ charters and only TWO with African American managers. Astounding. American history and segregation that was built into the system, although tainted, is constantly trying to right the ship. PMG has graded only 8 notes of this Friedberg # and this is the only 66 EPQ with none higher! Top POP!!!
|
| Slot: |
1902 Red Seal $20 P639-P641 |
| Item: |
$20 1902 Red Seal National Bank Notes |
| Grade: |
PMG VF 35 EPQ |
| Cert #: |
8056021-005
|
Owner Comments
I have collected the $5, $10 & $20 Red Seals from Ch 6301, continuing my passion for Pittsburgh Charters at the turn of the century. Indeed, I like the Mellon signatures from this Charter as well. Pittsburgh, PA - $20 1902 Red Seal Fr. 639 The Mellon NB Ch. # (E)6301 PMG Choice Very Fine 35 EPQ.
While several hundred large size are in the census from this popular private name Pittsburgh bank, this is only the eighth $20 Red Seal to be reported. It is a bright, well printed, and original example with just some light folds.
|
| Slot: |
1902 Date Back with Blue Seal $20 P642-P649 |
| Item: |
$20 1902 Date Back National Bank Notes |
| Grade: |
PMG AU 58 |
| Cert #: |
8059262-001
|
Owner Comments
Date Back $20 San Francisco Bill. I expected a 40-45 for the minor corner folds. Pleasantly surprised with the 58! I have a few PCGS notes in my collection yet according to a well known and knowledgeable currency expert..." Remember if it isn't EPQ it can't be Gem at PMG unlike other TPG's who seem to think a pressed and doctored note can be Gem, even Superb without their PPQ moniker. Ridiculous and beyond the pale and the main reason, beyond the worst holder design of any TPG services, I abhor PCGS holders!!" Words from the expert himself. I will pass on all PCGS notes unless there is a sentimental reason. Never for attempting to complete a set...
|
| Slot: |
1902 Plain Back with Blue Seal $20 P650-P663 |
| Item: |
$20 1902 Plain Back National Bank Notes |
| Grade: |
PMG AU 58 |
| Cert #: |
8050658-001
|
Owner Comments
I continue to be lured into Pittsburgh charters even though I have no connection to the city. I like Ch #252 because I may be able to build a set with most denominations and now I am a fan of Ch #6901 for the Mellon name. One of the great names in American history.
From Wikipedia:
Andrew William Mellon (/'m?l?n/; March 24, 1855 – August 26, 1937), sometimes A.W., was an American banker, businessman, industrialist, philanthropist, art collector, and politician. From the wealthy Mellon family of Pittsburgh, Pennsylvania, he established a vast business empire before transitioning into politics. He served as United States Secretary of the Treasury from March 9, 1921, to February 12, 1932, presiding over the boom years of the 1920s and the Wall Street crash of 1929. A conservative Republican, Mellon favored policies that reduced taxation and the national debt in the aftermath of World War I.
Mellon's father, Thomas Mellon, rose to prominence in Pittsburgh as a banker and attorney. Andrew began working at his father's bank, T. Mellon & Sons, in the early 1870s, eventually becoming the leading figure in the institution. He later re-named T. Mellon & Sons as Mellon National Bank and established another financial institution, the Union Trust Company. By the end of 1913, Mellon National Bank held more money in deposits than any other bank in Pittsburgh, and the second-largest bank in the region was controlled by Union Trust. In the course of his business career, Mellon owned or helped finance Alcoa, the New York Shipbuilding Corporation, Old Overholt whiskey, Standard Steel Car Company, Westinghouse Electric Corporation, Koppers, the Pittsburgh Coal Company, the Carborundum Company, Union Steel Company, the McClintic-Marshall Construction Company, Gulf Oil, and numerous other businesses. He was also an influential donor to the Republican Party during the Gilded Age and the Progressive Era.
In 1921, newly-elected President Warren G. Harding chose Mellon as his Secretary of the Treasury. Mellon would remain in office until 1932, serving under Harding, Calvin Coolidge, and Herbert Hoover, all three of whom were members of the Republican Party. Mellon sought to reform federal taxation in the aftermath of World War I, cutting taxes on top earners but leaving in place a progressive income tax. Some of Mellon's proposals were enacted by the Revenue Act of 1921 and the Revenue Act of 1924, but it was not until the passage of Revenue Act of 1926 that the "Mellon plan" was fully realized. He also presided over a reduction in the national debt, which dropped substantially in the 1920s. Mellon's influence in state and national politics reached its zenith during Coolidge's presidency; one observer noted that "it would be fair to call the [Coolidge] administration the reign of Coolidge and Mellon."
Mellon's national reputation collapsed following the Wall Street Crash of 1929 and the onset of the Great Depression. Mellon participated in various efforts by the Hoover administration to revive the economy and maintain the international economic order, but he opposed direct government intervention in the economy. After Congress began impeachment proceedings against Mellon, President Hoover shifted Mellon to the position of United States ambassador to the United Kingdom. Mellon returned to private life after Hoover's defeat in the 1932 presidential election by Franklin D. Roosevelt. Beginning in 1933, the federal government launched a tax fraud investigation on Mellon, leading to a high-profile case that ended with Mellon's exoneration. Shortly before his death in 1937, Mellon helped establish the National Gallery of Art, a national art museum. His philanthropic efforts also played a major role in the later establishment of Carnegie Mellon University and the National Portrait Gallery.
Quotes
Strong men have sound ideas and the force to make these ideas effective.
Give tax breaks to large corporations, so that money can trickle down to the general public, in the form of extra jobs.
A balanced program for tax reform based upon the common sense idea of lowering taxes out of surplus revenues.
This note was inexpensive and I thought it would grade 40 or 45 so a pleasant surprise it came out to a 58. PMG ordained it with the comment "Good Embossing" which is great although I don't understand how embossing can be something special and the note not achieve a EPQ moniker.
|
| Slot: |
1902 Date Back with Blue Seal $50 P667-P674 |
| Item: |
$50 1902 Date Back National Bank Notes |
| Grade: |
PMG VF 25 |
| Cert #: |
5012213-009
|
Owner Comments
This note complements my $10 large from Paris, Illinois! With a fairly extensive French Bank Note Collection, I figure to have most Paris notes in the world covered! Not to mention the iconic film about this sleepy Texas town. A Date Back $50 on this bank that was managed by Cashier James A. Smith and R(ufus) F(inner) Scott. Mr. Scott's palatial residence is now the Garrett Funeral Home. Mr. Scott passed away in 1932.
|
| Slot: |
1902 Plain Back with Blue Seal $50 P675-P685 |
| Item: |
$50 1902 Plain Back National Bank Notes |
| Grade: |
PMG VF 30 |
| Cert #: |
5011260-004
|
Owner Comments
I am so close to completeing a precise set from CH# 2491 with the exact signatures. Only lacking the $5...if one were printed.
|
| Slot: |
1902 Date Back with Blue Seal $100 P689-697 |
| Item: |
$100 1902 Date Back National Bank Notes |
| Grade: |
PMG VF 25 |
| Cert #: |
5014132-001
|
Owner Comments
Gorgeous Philly $100. Matches the $100 BB in this set.
|
| Slot: |
1902 Plain Back $100 P698-707a |
| Item: |
$100 1902 Plain Back National Bank Notes |
| Grade: |
PMG VF 30 |
| Cert #: |
5014787-003
|
Owner Comments
One of only five large size hundreds known from here, one of which is locked away in the Philpott/Moody holdings. It is as nice as any of the known survivors, with bright paper and bold purple stamped signatures. My large size, large denomination hometown note!
| | |