Rare 1892 Creede Bank $5 note sells for US$ 102,000!

National Bank of Creede, 1892, $5, sold by Bonhams in 2012 for staggering US$ 102,000

Image Courtesy:  Bonhams

Bonhams situated at London was established in 1793 and is recognized as a very reputed auctioneer of rare collectibles in the world. In their auction held in 2012, it was estimated that the above banknote will sell between US$ 70,000 and 90,000 by its experts. The note was bought by a private collector from California who specializes in Colorado banknotes for US$ 102,000 after bidding activity (Reported by Steve Raabe denverpost.com). 

This was assumed by the experts at Bonhams that, this the only specimen of Creede Bank which has survived till today. The note is graded VF35 PPQ by PCGS. The bank failed after three years of the operation and banknotes were not issued after that. These banknotes were earliest version of Federal Reserve notes what we experience today. The above banknote was signed by John McDonough PR, J.W. Merritt (cashier). This note represents an unbelievable find for collectors. The First National Bank of Creede, Colorado was chartered March 29, 1892, the date of issue on this note, and only existed until December 31, 1895 when it was liquidated as a result of the silver crash in 1893. This is the only known example of any National Bank Note from Creede, it presents with bank serial number 1 and is accompanied with a paper envelope stating: "FIRST BILL ISSUED AT THE FIRST NATIONAL BANK OF CREEDE." An amazing discovery by Bonhams!