LOT Heritage Rare Coin Galleries  /  2004 (CSNS) (CAA) Signature Sale #348 - Session 3  / 

18818

Central Square, NY - $10 1902 Plain Back Fr.

Currency:USD Category:Coins & Paper Money Start Price:2,050.00 USD Estimated At:1.00 - 1,000,000.00 USD
Central Square, NY - $10 1902 Plain Back Fr.
Central Square, NY - $10 1902 Plain Back Fr. 628 The First NB Ch. # 10109This note can certainly lay claim to being the rarest New York large note we have ever handled, rivaled only by the large Islip note we sold several years ago. This bank was one of the most thinly capitalized in the state, and maintained only the minimum $6250 required by law for years. It's large issue was literally pocket change, and by 1935 only $40 was outstanding in large size from here. For years it was thought that there were no large size survivors, as even Grinnell and Donlon lacked notes from this small Oswego County community, but recently we learned from Wade Boughton, a long time New York collector now relocated to Rhode Island (a state he is now pursuing with the same intensity he once did in New York), that he indeed had a large Central Square in his holdings, a note it is our pleasure to offer here tonight. As is the case for most all of Wade's notes, it is an attractive example, pen signed and utterly problem free. Our conservative grade is Fine-Very Fine, with the note much closer to the higher grade than the lower. Assigning a value to a note like this is just about impossible these days, as collectors are now sophisticated enough to realize that the opportunity to obtain notes of this rarity is as rare as the notes themselves. If this were a coin of equal rarity, we would be talking about prices in the millions, but for now in Nationals, the range is still much more modest. <BR><BR><B>Important notice:</B> Heritage usually auctions material at the rate of 200-250 lots per hour. On some occasions eBay Live bid software or the Internet may not be able to keep up with the pace of the auction. We recommend placing a realistic absentee bid now as insurance to avoid disappointment. Occasionally the auctioneer may eliminate or reject an eBay Live bid, and the auctioneer may also reopen a lot after the close of the eBay live bidding (usually because we missed an audience bid), and may reject your bid even if it shows you as the winning bidder. By bidding via eBay Live, you agree that Heritage may award the lot to another bidder at its sole discretion under the circumstances described above or any other reasonable circumstances. Since eBay bids are not shown to us until we open the lot on the floor, we treat those bids just like floor bids. In most cases the floor responds before the eBay bid is presented to us, due to Internet lag time, so for consistency we have made it a policy that floor bids are always considered first over tie eBay live bids. Also please note that all Heritage lots purchased through eBay Live carry a 20% Buyer's Premium. Please make sure you read the Terms and Conditions before you bid. <BR><BR><B>IMPORTANT ANNOUNCEMENT ABOUT RESERVES:</B> Heritage now divulges all reserves on its web site 7 days before every auction. If you want to know whether the reserve on this lot has been met, and if not, what the reserve amount is, please visit this lot page on the HeritageCoin.com web site, or email: bid@HeritageGalleries.com
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