The First National Bank of Nevada – Austin

THE FIRST NATIONAL BANK OF NEVADA - AUSTIN

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Charter: 1331

Year Opened: 1865

    There are so many peculiar things about The First National Bank of Nevada.  For one it was chartered in 1865 and failed in 1869.  It would be 11 more years, in 1880, that Nevada would get its second national bank. Even odder than the timing would be the town that got to claim the title of the first national bank, Austin.  The casual collector would assume Reno or Carson City would take honors.  Today the town of Austin has a robust population of 370 people.  Yet in 1867 it boasted a population of 10,000, making it by far the most populous city in the state.  As has been the story with many unlikely towns in Nevada, it was a boom town brought to notoriety by silver. 

    Nevada had a national bank before North Carolina, South Carolina, Florida, Alabama, and Texas, just to name a few.  Not surprisingly it was also the first national bank to be chartered west of Denver.  Mining interests brought people to Austin by the wagon and they quickly set up mines all across the area known as the Resse River Mining District.  Austin was not easily accessible.  Its remote location and poor management are likely the two contributing causes to why it failed.  It was not uncommon for management to completely neglect to file monthly, quarterly, and annual reports. 

    As of 1915, close to $900 of currency had not been redeemed.  The bank obviously stopped issuing banknotes in 1869 so for there to still be $900 unredeemed in 1915 is promising for collectors.  Sadly though, other first charter notes were certainly still circulating in 1915; so it would have taken an astute eye to set aside something from Nevada.  To this day no notes from The First National Bank of Nevada have been documented by the collecting world. 

First President: John W. Harker
First Cashier: C.D. Bonestal

Other people associated with the bank: N.C. Fassett, F. Norwood, C.F. Horn, J.W. Clark, M.P. Buel, M.W. Kales, C.D. Bonsteel, T. Norwood

 

First National Bank
of Nevada

Rarity

Type

10

Original Series

9

-

8

-

7

-

6

-

5

-

4

-

3

-

2

-

1

-

Rarity based on state
10 being rarest

Most currency from
Nevada can be rare.
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