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This exceptional National Gold Bank Note, graded Very Fine 20 by PMG with minor restoration, hails from the First National Gold Bank of San Francisco (Charter #1741), the pioneering California institution chartered on November 30, 1870. As one of the finer survivors from this short-lived series (1870s–early 1880s), it boasts vibrant coloration, sharp detail, and superior eye appeal for its grade.
Authorized by a 1870 Congressional amendment to the National Currency Act amid California's post-Gold Rush preference for specie over paper "greenbacks," these notes were redeemable in gold coin and printed on distinctive golden-tinted (or orange-hued) paper. The face features intricate vignettes such as Columbus in Sight of Land and America Presented to the Old World, while the reverse—masterfully engraved by James Smillie—displays a stunning, almost photographic array of U.S. gold coins.
With most notes heavily circulated and redeemed quickly for hard cash, survivors are rare, especially in higher grades. California issues remain highly desirable among collectors, and this piece from the state's first and most prolific National Gold Bank stands as a key relic of its unique gold-backed currency era.
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