South St. Paul, MN - Ch. 6732 - $10 1902 Red Seal
There are a lot of really great notes in tonight's auction, but this one might be the absolute sexiest. If your focus is the best from Minnesota, then please take note of this beautiful red seal. I have handled a lot of red seals, and I don't recall ever seeing a richer red on such white paper. The signatures are immaculate. Even the bank's title is spot on. An Armour meat packing building opened in South St. Paul in 1919 and for sixty years it was the largest building in Minnesota. The stockyards came to South St. Paul in 1886 and obviously by 1903, the bank's charter date, the industry was important enough to be included in the name of the town's sole national bank. I guess the bank founders were excited about their new venture, because this red seal is reported to be directly from one of the banking families. It turned up in an estate in the Midwest and was consigned to our sale. Another serial #1 $10 red seal is listed in the census. However, it has no auction results or discovery story associated with it. This is of course far and away the best note ever to be offered for sale from South St. Paul. For the record, we are calling this AU+ only in the interest of absolute conservatism. There are certainly no folds and the only signs of handling are a few bends in the margins. According to our records, this is the highest grade #1 red seal from Minnesota to EVER be offered for sale publicly.
Date Sold: 10/25/14
Realized Price: $22230