Dick Hanscom writes:
The Bairflanks Daily-Newsless Miner had an article about the $5 First National Bank of Fairbanks note in Heritage’s auction.
The $5 bill displayed for decades on Charles Fairbanks IV's wall was long a treasured family heirloom from Alaska. Now, to the surprise of the grandson of a turn-of-a-century vice president, it's also become a likely treasure trove.
The rare find is expected to fetch as much as $300,000 at auction this month when a Texas auctioneer plans to put it up for bids in Dallas and online as part of the American Numismatic Association National Money Show.
The bill was presented in 1905 to Vice President Charles W. Fairbanks — Theodore Roosevelt's No. 2 — and was from the First National Bank of Fairbanks, Alaska. The family has had it in their possession ever since and recently decided to auction it off through Dallas-based Heritage Auctions.
"It's a wonderful, wonderful find," said Dustin Johnston, director of Heritage's currency auctions.
Auction officials say the Fairbanks bill that features an image of President Benjamin Harrison is a highlight that's expected to sell for $200,000 to $300,000. The minimum starting bid is $120,000.
Fairbanks always knew the bill was special, at least to his family, given that it was presented to the former vice president as a memento from the frontier city named after him.
Charles W. Fairbanks was a U.S. senator from Indiana in the late 1890s when he was credited with playing a key role to resolve a border dispute with Canada triggered by the Klondike Gold Rush. As a result of his efforts, most of the disputed territory went to the United States.
But the real reason the city of Fairbanks was named after him was because he played a key role in the appointment of a federal judge, James Wickersham, a man Fairbanks met during the border dispute, according to University of Alaska Fairbanks historian Terrence Cole. To return the favor, Wickersham urged city founders to call the settlement Fairbanks.
Auction officials also note the bill's rarity. Only three banks in Alaska — out of more than 12,000 banks nationwide — issued the bills.
The Associated Press picked up the story and it was in USA Today and several other publications. Thanks to Nancy and John Wilson and others for passing those along.
To read the complete article, see:
Rare century-old $5 Alaska bill could be worth $300,000
Wayne Homren, Editor
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