Unique Serial Number 1 Black Charter Note
serial number 1 Black Charter Note represents a
true miracle of survival.
Discovered earlier this year, it is the only
serial number 1 Black Charter Note from any bank
to survive, and is one of only three Original
Series Black Charter Notes known to exist (Fr.
It is the “A” position note from the first sheet
of fives sent to the Red Oak, Iowa bank in 1873,
and, as Peter Huntoon noted in his Bank Note
Reporter story earlier this year, had obviously
been saved by one of the signers.
Nothing is known of the note’s pedigree since
the day it left the bank in late 1873 until it
walked into a small Iowa coin shop earlier this
year. The note quickly changed hands and the
second dealer sent it to PMG for grading because
of its attractive appearance.
Only when the note came back from PMG with the
attendant fanfare did the second dealer realize
that this was not only a serial number 1 example
but was the only serial number 1 Black Charter
example ever to be recorded.
Fortunately for collectors, it is a lovely as
well as unique note, with great color,
signatures, and eye appeal, fully, in our
opinion, meriting its PMG assigned grade of Very
The Note will be auctioned by Heritage in the
upcoming Long Beach Currency Sale in September
as Lot 3502.