CHARLESTON – A 1902 $5 note issued by the Charleston National Bank sold for $1,000 to a West Virginia bidder during State Treasurer John Perdue’s latest online unclaimed property auction. The auction wrapped up Thursday, Sept. 10.
The note, classified as a “1902 Blue Seal issued by the Charleston National Bank, Charleston, W.Va.,” opened with a minimum bid of $60. Two bidders consistently drew the price up. An auction house spokesperson confirmed the winning bidder was a West Virginian.
As one auction ended Thursday, another one started at www.WestVirginiaUnclaimedProperty.org. To bid, simply create an account. Yet another national bank note, from the First National Bank of Sistersville, will be available.
Currency proved a popular commodity for bidders in the just-ended auction. The top draw of the auction – which consists of items left behind in safe deposit boxes – was 71 Morgan silver dollars, which went for $2,000 but lacked any particular West Virginia connection. A collection of 51 Peace dollars went for $1,050.
Federal bank notes were only printed from 1863 to 1935, making them collectible. They were printed by national banks designated as such by the federal government. Banks backed the currency by placing bonds on deposit with the U.S. Treasury.
“I’m happy we wrapped up another successful auction,” Treasurer Perdue said. “Currency once again ruled the day. I would urge anyone with an interest in investigating what’s available to give it a try.”