Heritage Rings in 2025 with PMG-certified Gold Bank Notes
Posted on 12/17/2024
Eleven examples of National Gold Bank Notes that are certified by Paper Money Guaranty® (PMG®) have been assembled together and are available in Heritage Auctions’ FUN Currency Signature Auction on January 14-17, 2025.
Among these historic notes is a First National Gold Bank, Santa Barbara 1873 $100 graded PMG 12 Fine (lot 20338), which has an estimate of at least $250,000. A mere eight examples of $100 National Gold Bank Notes are listed in the PMG Population Report, and this is the only one from Santa Barbara.
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National Gold Bank Notes were a unique form of currency issued in the United States during the late 19th century. Authorized under the National Gold Bank Act of 1870, these notes were backed by gold reserves and were issued by National Gold Banks in California, where gold coinage was widely used due to the region's Gold Rush economy. Unlike traditional National Bank Notes, they were redeemable in gold coins, adding an extra layer of stability and trust during a time when paper money often faced skepticism.
Only nine banks issued these notes in denominations from $5 to $500, making surviving examples rare and highly collectible, especially in higher denominations. These notes were eventually phased out in the 1880s.
Other PMG-certified National Gold Bank Notes in this auction include:
- a First National Gold Bank, Santa Barbara 1873 $20 from the Mike Coltrane Collection graded PMG 8 Very Good (lot 20337), with an estimate of at least $20,000
- a First National Gold Bank, San Francisco 1870 $20 graded PMG 15 Choice Fine (lot 20322), with an estimate of at least $15,000
- a Farmers National Gold Bank, San Jose 1874 $20 graded PMG 12 Fine (lot 20334), with an estimate of at least $15,000
- a First National Gold Bank, Oakland 1875 $10 graded PMG 12 (lot 20300), with an estimate of at least $15,000
- a National Gold Bank of D.O. Mills and Company, Sacramento 1872 $5 graded PMG 25 Very Fine (lot 20317), with an estimate of $15,000
- a National Gold Bank & Trust Company, San Francisco 1872 $10 graded PMG 15 Choice Fine (lot 20324), with an estimate of at least $12,500
- a First National Gold Bank, Petaluma 1874 $10 graded PMG 12 Fine (lot 20306), with an estimate of at least $12,000
- a First National Gold Bank, Oakland 1875 $10 graded PMG 12 Fine (lot 20301), with an estimate of at least $12,000
- a First National Gold Bank, Stockton 1873 $10 graded PMG 12 Fine (lot 20347), with an estimate of at least $9,000
- a First National Gold Bank, San Francisco 1870 $5 graded PMG 20 Very Fine (lot 20321), with an estimate of at least $6,000
For even more PMG-certified banknotes featured in this auction, including a 1928 $5,000 Federal Reserve Note and a high-grade Demand note, go here.
All estimates are provided by the auction house.
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