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    HomeNewsWest Hollywood National Bank of Crescent Height Note SOLD for $52,425

    West Hollywood National Bank of Crescent Height Note SOLD for $52,425

    A Plain $10 National Discovery Note of The West Hollywood National Bank of Crescent Heights California Charter 11880, Serial number 1485, sold for $52,425 by Doyle Auctioneers & Appraisers on December 5. The value of the note was estimated at $30,000 – $50,000.

    Described as Very Fine, the note with serial number 1485, was signed in purple by Geo. B Mauser as President. It is described as having a couple of barely visible handling marks, yet overall the note was sold clean with nice paper quality, margins are close at top and bottom, with ample widths on the sides. This true rarity commanded much attention and sold for $2,425 more that its estimated value.

    According to the auction description, the Crescent Heights National Bank of Crescent Heights, a subdivision of Los Angeles, became the West Hollywood National Bank of Crescent Heights, on November 20, 1922, was granted charter #11880. It was later sold to the Pacific Southwest Trust & Savings Bank on December 18, 1926. The $10 value was the only denomination issued by the bank, from the original issue of approximately 6,581 notes, only 2300 were still outstanding at the time of closure of the bank. To date, based on current information and recent research, this note is the sole survivor of the issue, and the first and only piece so far offered, publicly or privately. The note been sequestered in the loving care of the original owner for near 100 years, since it was given to her by her father, The President!

    The area of Crescent Heights is described an affluent neighborhood of West Hollywood in Los Angeles county. The bank charter was formed in 1924 under the supervision of the Federal Reserve.

    A similar, “Very Fine” $10 National Third Issue, Plain Back from The Punxsutawney National Bank Charter E 5702, sold for $6,050 with a value estimated at $3,000 – $5,000, despite being a scarce Number 1 note.

    The name of the person or institution that purchased the West Hollywood National Bank of Crescent Heights California is not yet known.

    For more information on the auction, click on the link below:

    https://www.doyle.com/auction/lot/lot-1148—united-states-west-hollywood-crescent-heights-california-1902-10-national

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    Paulo Murillo
    Paulo Murillohttps://wehotimes.com
    Paulo Murillo is Editor in Chief and Publisher of WEHO TIMES. He brings over 20 years of experience as a columnist, reporter, and photo journalist. Murillo began his professional writing career as the author of “Love Ya, Mean It,” an irreverent and sometimes controversial West Hollywood lifestyle column for FAB! newspaper. His work has appeared in numerous print and online publications, which include the “Hot Topic” column in Frontiers magazine, where he covered breaking news and local events in West Hollywood. He can be reached at [email protected]
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