Idaho National Bank Notes: Preston, Idaho

Rare, Interesting, Historical 

Idaho National Bank Notes from Preston, Idaho

Located in Southeast Idaho's Franklin County

Preston is a city in Franklin County, Idaho and is the county seat for that county. It is 4,715 feet above sea level. Preston’s current population is 5,145 persons which represents a 9% increase in just ten years. This famous Idaho town was officially established in 1900.

In 1866, Church of Jesus Christ of Latter-day Saints (LDS) pioneers and settlers came to the Cache Valley and founded Preston, Idaho (originally called Worm Creek). Preston was named after the European United Kingdom town of Preston, England (a major LDS center in the UK). In the 1880s, a regular Preston town site was established.

1902 $10 Plain Back The First National Bank of Preston, ID PCGS 15 Fine

Historically, the Idaho Territory was launched under President Abraham Lincoln. Idaho was the 43^rd state to join the union and became part of the United States back on 3 July, 1890. 

Though Preston was officially established in 1900 (just one decade after Idaho became a state), it wasn’t until 1913 that Franklin County, Idaho was established. Of great historical importance to all coin and currency collectors, is that Franklin County, Idaho is the ONLY Franklin County in the United States NOT to be named after Benjamin Franklin. 

Franklin County Idaho was, instead, named after Franklin D. Richards, an Apostle of the Church of  Jesus Christ of Latter-day Saints (LDS). With 668 square miles, Franklin County includes portions of the incredible Cache National Forest and Caribou National Forest. To the north of Franklin County, Idaho is Bannock County.

On January 29, 1863, the Bear River Massacre occurred in what is now Franklin County, Idaho, just a few miles northwest of the Preston town site.

Three WWII recipients of the Congressional Medal of Honor were from Preston Idaho –M.S. Bennion, L.C. Brostrom, and N.K. Van Noy.

More currently, other famous Preston, Idaho residents are the two creators of the enormously popular 2004 movie film Napoleon Dynamite (Jared and Jerusha Hess). It is often said that this film, which was largely filmed on location in Preston, including Preston High School, has put Preston, Idaho on the map. For several years and in honor of the film, the city of Preston has held a Napoleon Dynamite Festival.

This National Bank Note Series 1902 was likely printed in 1904 and related to Charter 7526 – First National Bank of Preston, Idaho (Printed just over a decade after Idaho became a US state). Therefore, this note originated a very short time after the official formation of Preston, Idaho and well before the 1913 establishment of Franklin County, Idaho.

The fascinating Preston, Idaho history is directly linked with and connected to this stunning National Bank Note. 

The state of Idaho (became a state in 1890, our nation's  43rd state) had 86 national currency issuing charters in 56 towns. There are approximately 1,120 Idaho national bank notes known, ranking it the 6th scarcest state just edging out Nevada at #7.  Six charters have bank notes that are unknown.

Idaho based National Bank Notes are rare. Take a quick look in your wallet and you may find real Idaho gold!

On the Treasuredstocks.com web site, I have the following Idaho-based National Bank Notes (alphabetical order):

Ashton; Blackfoot; Boise; Caldwell; Idaho Falls; Lewiston; Malad City; Nampa; Parma; Preston; Saint Anthony; Salmon; Shoshone; Twin Falls; Wallace; and Weiser

Idaho based National Bank Notes are rare. Take a quick look in your wallet and you may find real Idaho gold!

If anyone out there is from or has visited Preston, Idaho, please post a comment.

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 From 1863 to 1935, National Bank Notes (NBN) currency were issued by banks throughout the US and its territories. After US banks with a federal charter deposited bonds in the U.S. Treasury, they would be able to issue National Bank Notes. Importantly, the US Federal government would back the value of these bank-issued National Bank Notes.

National Bank Notes were retired as a currency in the 1930s during the Great Depression. They were subsequently merged into Silver Certificates, Federal Reserve Notes, and United States Notes.