Panama Banking Company, 190x (ca.1908), Specimen Circulating "Certificate of Deposit" Unique Banknot

Currency:USD Category:Coins & Paper Money / Paper Money - World Currency Start Price:25,000.00 USD Estimated At:30,000.00 - 40,000.00 USD
Panama Banking Company, 190x (ca.1908), Specimen Circulating  Certificate of Deposit  Unique Banknot

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The auction will take place on Tuesday, August 29th, 2017 at AIA's office located at 1580 Lemoine Ave., Suite #7, Fort Lee, NJ 07024 beginning at 10:30 AM for Se...
Panama, lot of 4 Specimen circulating "CD's", Includes $10; $20; $50 and $1000 denominations, all are printed in green with counterfoil at left, All with title in middle top all were taken from a New York Bank Note Company sample book and were the only examples found, all are 8 1/2 inches x 3.75 inches, All have counterfoil at left and the $10 and $100 having archival notations on the lower left corner of the note margin with the date "Apr (19)'08" and initials "J.R.", Payable in U.S. dollars, all with POC's in signature blocks, they are PMG graded, the $10, Gem Uncirculated 66 EPQ; $20, Choice About Uncirculated 58; $50, Choice Uncirculated 64; and $100, Choice Uncirculated 64. The Certificate was negotiable at any office of the company and would pay 1% interest every 3 months (4%) per year. Once endorsed, it could be cashed by anyone or used as currency. The Panama Banking company was founded in 1868 in Panama and New York by the firm ñMerchants Bankers, Messrs. Isaac Brandon & Brothersî. It was one of the strongest financial institutions in the Republic of Panama. The officers were Isaac Brandon, President and founder, New York; Nathaniel Brandon, Vice President, New York; V. I. Brandon, Treasurer, New York; and P. G. Eastwick, General Manager, Panama. The building of the Panama Canal (1903 to 1914), overseen by President Theodore Roosevelt and achieving the realization of a long term U.S. goal of a trans- isthmian canal, only enhanced the business of the Panama Banking company. The Panama Banking Company had branches in the cities of Panama and Colon at both entrances of the Panama Canal (Balboa and Cristobal, Canal Zone) to do a general banking business and were fully equipped for the transaction of all financial business in the Republic of Panama and the Canal Zone. It also had special facilities for the payment of tolls and disbursements for vessels using the Panama Canal.