Here is an exciting new discovery for Arkansas collectors. This well-used note recently turned up in the New England area. Based on its technical grade, it is not a surprise that this significant rarity wound up a long way from home. The note is in as found condition with no restoration. It has some margin splits, but nothing I would call a tear. The note has lots of pinholes and internal splitting, but again, nothing dramatic or unusual for the grade.
Only three national banks in Arkansas issued first charter notes. Two were in Fort Smith and one was in Little Rock. The Merchants National Bank of Little Rock and The National Bank of Western Arkansas at Fort Smith were the only two to issue aces. They chose to do so only for the original series. A total of 13,500 $1 notes were issued between both banks. This discovery marks just the second survivor for the type. There are few other instances where a type and denomination is semi-unique for an entire state. It is a small miracle that now, 140 years since the last issuance, rare pieces of paper money like this are still out there waiting to be found. However, if you pass up this opportunity, it could very well be decades before another Arkansas ace is available.

AG