Marblehead, Massachusetts. $5 1875. Fr. 401. National Grand Bank.

Marblehead, Massachusetts. $5 1875. Fr. 401. National Grand Bank. Charter #676. PMG Very Fine 25. Situated to the northeast of Boston, Marblehead stands among the many idyllic locales spread throughout New England rich with history and whose fortunes were once tied to the bounties of the Atlantic ocean. The National Grand Bank of Marblehead (Charter# 676) is one of those institutions which owes its existence to the fishing industry and whose title reflects the Grand Banks of Newfoundland where many Marbleheaders risked life and limb to provide for their families. First organized in the 1830s as the Grand Bank, this institution opted to surrender its state charter and began operations as a National Bank under then-recent Congressional legislation in December 1864. In business past 1935 when National Bank Notes were retired, this institution managed to issue a respectable quantity of notes that helps account for the 45 pieces recorded by the National Bank Note Census at present, but this exact example remains a rare remnant for one of the most prolific banks in Massachusetts outside of Boston by virtue of the type and denomination. PMG comments "Tears." Estimate: $1,250 - $1,750. Click here for certification details from PMG.

Estimate:$750

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