A Series 1902 $10 national bank note issued by the First National Bank of South Pasadena (California), sold for $29,000 during the Jan. 25 to 27, 2015, Pre-Long Beach U.S. Coins and Currency Auction by Ira and Larry Goldberg Coins & Collectibles Inc. Prices do not include the buyer’s fee.

The Plain Back note was graded Very Fine–Extremely Fine by the auction firm. According to the auction catalog description, this discovery note “is the first to appear on the market from this Los Angeles-area bank.”

“While the bank seems to have issued plenty of notes, a total of $264,650 in face value from 1907 until its close in 1922, collectors have never yet had an opportunity to obtain one,” according to the catalog description.

The note had an estimate of $40,000 to $50,000.

Also sold was a $50 national bank note for the Reno National Bank (Nevada), for $7,500.

The note was graded by PCGS Currency as Gem New 65 Premium Paper Quality. It had an estimate of $10,000 to $15,000.

For more information about the auction, visit the firm’s website.