Up for auction is this Grand and Sixth National Bank of Milwaukee, Wisconsin, Charter #12628, $5.00 1902 Blue Seal. Fr. #609, with treasury signatures of Harley V. Speelman, as Register of the Treasury and Frank White as Treasurer of The United States.  The cashier on this banknote is N. Kendenback and the President on this note is John L. Feber. The banknote has black machine printed signatures, which were applied to the note after the sheets were shipped from the Comptroller in Washington DC to the bank.

 The Kelly Census shows 13 Large size notes that are reported on this bank title, all of which are 1902 Plain Backs.  The known notes are all - $5’s, as this was a $5.00 only bank!  During this time period, the $5.00 was the most commonly encountered denomination of National Banknote, and was considered to be the workhorse, as they saw heavy circulation in commerce.  For this reason, $5.00 only National Banks tended to have a much lower rate of survivorship.  This note is not listed in the Kelly census, the new owner can certainly add it to the census by reporting it.

This bank was organized in January of 1925 as “The Grand And Sixth National Bank of Milwaukee, Wisconsin”.  The Bank changed its name to “Sixth Wisconsin National Bank of Milwaukee, Wisconsin” on September 24, 1928.  This bank only issued 63,636 large sized notes with this title before changing its name.  The bank was liquidated on October 18, 1932 which is another reason besides the low issue that these bank notes are scarce.  When a National Bank failed, the other national banks in the area, made a concerted effort to pull the banknotes for the defunct banking institution out of circulation. 

This note has is dirt on both sides, and has certainly seen heavy circulation.  The bottom margin is a little ratty at the center.  I see seven pinholes scattered throughout the note, and a few very minor splits.  In spite of the dirt, the bank signatures are quite bold.    Please look at the scans carefully before bidding!  I grade this note as a Very Good.  Please look at the scans and judge the note for yourself.    

This note would make a fine addition to any Wisconsin National Banknote collection!  This bank is located in Milwaukee County, so it should appeal to people collecting National Banknotes from that and the surrounding counties, as well as people collecting the city of Milwaukee and the suburbs.