From Midland City, Alabama
Relative rarity? Value? Any info appreciated.
Tough bank, could be a $5K note. No red seals in the census for the charter. Would be a good auction note in my opinion.
Four large and six small size notes reported for this bank. All four large size are $10 Plain Backs. Yours would be the first large size note that isn't a $10 PB.
Yup, 5K is a good guess but it's very hard to nail down values on items so rarely available, so could be significantly higher or lower.
Rarity is pretty straight forward, it's the only red seal among 5 large size known. Value is more difficult because auction prices can vary quite a bit depending on what's wrong with it. If it was in Fine or Very Fine with no problems then we could feel more confident in narrowing in on its value. Without seeing the note, there would be a fairly wide estimate range depending on what makes the note VG. Is it a NET VG with problems (writing/foreign substance), a deeply soiled and discolored VG, are there areas with loss of ink, heavy folds that have the start of a tear, missing any corners, or maybe its just circulated and a little soiled but relatively close to Fine otherwise. All of these can effect the value to some degree. If the note has been repaired or altered trying to remove writing and creates a spot of lighter/worn discoloration that can change what collectors are willing to spend also. A note in VG with substantial problems might be closer to a 3000 note. Conversely a problem free note in VG/F might sell around the 5000 level.
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Guys nobody is paying that kind of money anymore. Jess Lipka is out. There really isn’t anyone going crazy for them. I bet you if the current value shows $5K for fine. He will be very lucky to see $3000. It’s just the way it is.
this was interesting--http://www.antiquemoney.com/national-bank-notes/alabama/old-money-from-the-first-national-bank-of-midland-city-8458/
Thanks for all the information fellas. Much appreciated.