This $20 bill drawn on the First National Bank of Medical Lake could fetch between $3,000 and $4,000 at auction.
A small piece of Medical Lake history is going to be sold on the other side of the country.
Manifest Auctions, a company based out of Greenville S.C., will be auctioning off a $20 banknote, on Feb. 28 at 10 a.m., issued from the First National Bank of Medical Lake in 1929.
National banknotes were a form of currency and issued to states and territories from 1863-1935 by banks that had national charter with the federal government.
Manning Garrett, owner of Manifest, said these kind of banknotes that were distributed from community banks are sought after by collectors for their rarity and historical value.
"Some collectors seek banknotes from towns with interesting names," Garrett said. "Medical Lake is one of the more interesting-named towns in Washington."
Garrett added that there are eight other banknotes from Medical Lake that still exist.
Manifest, which auctions all kinds of currency, antiques historical memorabilia, estimates the value of the banknote to be from $3,000 - $4,000. The opening bid is $1,500.
As for how the banknote made its way to South Carolina, Garrett said his company obtained it from a man in Indiana who found it at one of his relatives' estate.
"The man's relative had it tucked away for all of those years and didn't really know how valuable it was," Garrett said.
Residents who are interested in looking at the banknote can visit Manifest's website at http://www.ManifestAuctions.com. Anyone who would like to make a bid can do so online or call 864-430-4020.
Al Stover can be reached at al@cheneyfreepress.com.
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