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Unique Kentucky Red Seal Sheet Located
 | By Bank Note Reporter
August 27, 2008 |
Central City, Ky., collector Richard L. Deavers reports finding the only known uncut sheet of Series 1902 Red Seal national bank notes extant on the Bluegrass State.
The sheet of 5-5-5-5, Serial No. 3, is from the First National Bank of Louisa, Charter 7110. It grades AU, with folds between the note and one fold through the sheet.
It was part of the bank's shipment of 125 sheets of $5 red seals that were shipped from the Comptroller of Currency office on Feb. 13, 1904.
It was acquired from a direct descendant of a former bank officer, and had been in the same family for over 100 years.
There was another red seal sheet known on Kentucky - a 5-5-5-5 sheet, Serial No. 1, on Pikeville National Bank. However, that sheet was cut apart at the FUN Show in January 2004, and the four notes were sold to four different collectors.
According to the latest census information, there are now a total of 30 sheets of Red Seal Nationals known from all banks in the country - and only 13 are $5 sheets.
There are only seven large-size sheets known on Kentucky:
-- Two Original Series 1-1-1-2 sheets on German National Bank of Louisville, Charter 2062.
-- One Series 1875 1-1-1-2 sheet on the Fleming County National Bank of Flemingsburg, charter 2323.
-- One Series 1882 Brown Back 5-5-5-5 sheet on the Second National Bank of Ashland, Charter 3944.
-- One Series 1902 Red Seal 5-5-5-5 sheet on the First National Bank of Louisa, charter 7110.
-- One Series 1902 Plain Back 10-10-10-20 sheet on Harlan National Bank, Charter 12295.
-- One Series 1902 Plain Back 10-10-10-20 sheet on First National Bank of Jenkins, Charter 10062.
Bank History
The First National Bank of Louisa was chartered on Jan. 23, 1904. The first president was Alexander Lackey and the first cashier was George Randall Vinson.
Lackey was born on Dec. 18, 1853 in Louisa, and died on March 31, 1904 in Louisa.
He helped organize the Bank of Louisa in the 1890s, and when that bank was chartered as the First National Bank of Louisa on Jan. 23, 1904, he became the first president, serving until his untimely death just two months later.
This sheet of Series 1902 $5 Red Seals, Serial No. 3, is the only First National Bank of Louisa currency that bears the signature of Alexander Lackey.
Vinson, who was the long-time cashier, was born Dec. 17, 1860 in Louisa and died there on May 7, 1939. He was the first cashier and served in that capacity until the early 1930s. He is related to Fred Vinson, former Treasury secretary in 1945-1946 and Chief Justice of the Supreme Court from 1946-1953.
The First National Bank of Louisa printed 375 sheets of Red Seals, and there are now seven $5 Red Seals known on the bank, including two Serial No. 1 notes and this sheet. There are a total of 12 large notes and one sheet known out of the $1,310 outstanding in large in 1935.
Anyone with additional information on Kentucky sheets, either large or small, is encouraged to contact Deavers at: P.O. Box 31, Central City, KY 42330.
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