$5 1902-ND, EXTREMELY RARE, RED SEAL
FNB FAIRBANKS, Ch-7718, Alaska National Banknote, as a District.
A rarity of the utmost caliber
Bold pen signatures of the cashier and President
In 1867, William Seward, Secretary of State, argued vigorously for the purchase of Alaska, from Russia, at the perceived exorbitant price of two cents per acre or $7.2 Million.
Americans quickly nicknamed the barren acquisition “Seward’s Folly”.
Thirty years later, Seward was forgiven with the discovery of gold leading to the Klondike Gold Rush.
As the importance and value of the land increased, so did tensions with neighboring Canada as pre-existing borders between Russia and Canada were unclear in several large sections.
Rather than risk war, Charles Fairbanks, a Senator from Indiana, was appointed to resolve the border dispute in an amicable fashion—a feat he accomplished in 1898 with the majority of the disputed land becoming property of the United States.
Between 1890 and 1900 the population of Alaska doubled to 64,000 because of the gold rush.
The second largest city was settled in 1901 and named Fairbanks to honor the Senator’s contribution to the District of Alaska.
Four years later the First National Bank of Fairbanks was organized.
Aside from great numismatic importance, this fiscal relic has direct ties to the Klondike Gold Rush, the unique status of Alaska as a District and as a Territory, William Seward, and Charles Fairbanks.
Only a handful are available to collectors and many tightly held.
Note is authenticated and graded by PCGS as Choice About New