Located in Lovelock Nevada, not far from Reno, Tesla, right on the Interstate 80 where business is booming, sits this historic former First National Bank building built in 1900-1905, a classic 20th century structure in the heart of Lovelock. The remaining buildings on that city block burnt down in a large fire in 2019 and the now vacant lots are in the process of being cleaned up. Bottom level of this building is almost 2,000 sf and there are 3 apartments upstairs. These apparenemtnts have been maintained and improved but are now vacant dues to the fire. There is a historic vault with the very valuable, original vault door in the downstairs. Before the fire building was maintained and upgraded and windows replaced.
A glimpse into the history of the building reveals the following The First National Bank Of Lovelock in Nevada printed $480,560 dollars worth of national currency. That is a pretty standard output. However, some types of currency from this bank could still be rare. This national bank opened in 1905 and stopped printing money in 1935, which equals a 31 year printing period. That is a fairly normal lifespan for a national bank. During its life, The First National Bank Of Lovelock issued 8 different types and denominations of national currency. We have examples of the types listed below. Your bank note should look similar. Just the bank name will be different. For the record, The First National Bank Of Lovelock was located in Pershing County. It was assigned charter number 7654. The First National Bank Of Lovelock in Nevada issued 356 sheets of $10 1902 red seal national bank notes. All red seals are very rare. But that sheet output is extremely low. We would love to see a picture of what you have. Collectors love ten dollar 1902 red seals. They usually represent the rarest bank notes printed by any national bank. Don't let the term series of 1902 confuse you. These were actually printed for about six years between 1902 and 1908. That is obviously a very short issue period which means that many red seals are quite rare. Each note has a portrait of William McKinley. Be sure to check the number under McKinley. If it is 1 then you are dealing with a note from the first sheet of bank notes issued. Number one bank notes are worth even more money than the already rare red seals. The First National Bank Of Lovelock printed 356 sheets of $20 1902 red seal national bank notes. Twenty dollar red seal bank notes have poor survival rates. They don't command premiums compared to the ten dollar denomination, but they are definitely rarer. All 1902 red seals were printed on four note sheets. There were three ten dollar bills and one twenty dollar bill per sheet. The 1902 $20 notes have a portrait of Hugh McCulloch on them. The charter number and seal are both printed in red ink. The serial numbers have a slight blue tint to them. The charter number is printed around the border of the note several times. The bank's title is right in the middle of the note and the state of issue is printed just below the title. Remember that all national bank notes are valued based on their condition and rarity. The same rule applies to 1902 $20 red seals.
This building has been well maintained and upgraded in the past few years. Bottom level is almost 2,000 sf an dcould be used as offices, retail space, or many other options. The upstairs has 3 updated studio type apartments with outside access that could be used for traveling executives. This really is a must see building for all types of investors.