World Banknote Auctions Presents US Currency Sale 2

The National Banknote selection starts off strong with a pair of banknotes from the First National Bank of Clifton, Arizona that are both pedigreed to the Peter Huntoon Collection. Lot 2040 is a Territorial Issue on this bank (1882 Date Back $10 graded Very Fine 25 by PMG), while lot 2041 is a State issue (1882 Value Back $20 graded Fine 12 by PMG). These two notes were separated at their 2007 auction, but have now been briefly reunited for this sale, and give an opportunity to advanced collectors to acquire a rare Arizona Territorial issue on a rare bank. The Territorial has a pre-auction estimate of $50,000 – $60,000 and the State issue has a pre-auction estimate of $8,000 – $10,000.

Situated in a canyon formed by the San Francisco River, Clifton, Arizona is a small community in Greenlee County that played a significant role as a base for the mining industry, primarily copper, in the region. In 1901, the First National Bank was established, becoming one of the most reliable banks in the entire state at one point. However, due to a struggling mining economy, the bank went into receivership just over two decades later in 1923. The bank, which succeeded the Bank of Clifton, had a maximum issue of $30,000 for most of its existence, only increasing to $50,000 during the final two years.