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<p>[QUOTE=&quot;oldbucks, post: 308890, member: 10204&quot;]Each National Bank chartered in the US was assigned a Charter number. For Bishop First National Bank of Honolulu HI they were assigned #5550. During times of economic hardship in the US and shortages of cash since the US went to Federal Currency, individual banks were not allowed to issue their own currency as was common from the period of 1830-1860, The notes from those times are refered to as Obsolete Currency or Broken Bank notes, since there was no real backing to the notes issued.</p><p>&nbsp;</p><p>With National Bank notes, a bank had to have on deposit in securities or deposits with the treasury. They were allowed to issue up to 80 or 90% of the collateral amount. This provided protection to whomever held the notes for legal tender.</p><p>&nbsp;</p><p>As far as Alaska is concerned and a hoard in a safety deposit box. It is very possible that may be. However Alaska statues provides:</p><p>&nbsp;</p><p>&nbsp;</p><p><b><font size="3">AS 34.45.260. Contents of Safe Deposit Box or Other Safekeeping Repository.</font></b></p><p>&nbsp;</p><p><span style="color: navy">All tangible and intangible personal property held in a safe deposit box or other safekeeping repository in a financial organization in the state in the ordinary course of the holder&#039;s business, and proceeds resulting from the sale of the property permitted by other law, that remain unclaimed by the owner for more than one year after the lease or rental period on the box or other repository has expired, are presumed abandoned.</span></p><p>&nbsp;</p><p>So there must be at least someone paying for the box on a continuing bases for the box not to be opened as abandoned property. But then who is to say someone didnt buy a 50 year lease and pay up front or continues to pay for a box of family jewels and never goes into it. If a hoard would be found....drastic price valuations of Alaskan Nationals would decrease. Right now notes from Alaska are rare...only 3 banks</p><p>&nbsp;</p><p>5117 FNB Juneau</p><p>7717 FNB Fairbanks</p><p>12578 FNB Ketchican</p><p>&nbsp;</p><p>We are talking about $10-20,000 for a VG note from any one of these banks. There are not alot of notes ourstanding. Most were redeemed.</p><p>&nbsp;</p><p>In the coming FUN auction in Florida in January this note is to be auctioned off by Heritage</p><p>&nbsp;</p><p><b>Fairbanks, AK&lt;/I&gt;</b> - $5 1902 Plain Back Fr. 598 <b>First NB</b>&lt;/I&gt; Ch. # 7718</p><p>&nbsp;</p><p>It has been tucked away for over 40 years and is coming back out. I will not be surprised to see a very high bid take this puppy.</p><p>The last note like this one sold for over $16,000 in 2004. That been the lowest of 5 that have been auctioned from heritage in the last 7 years.</p><p>&nbsp;</p><p>&nbsp;</p><p>I hope that answered your question.</p><p>&nbsp;</p><p>Jeff[/QUOTE]</p><p><br /></p>

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