Not since the voluntary liquidation of the First National Bank of Fort Meade, Fla., in November 1919, some 85 years ago, would a note on this bank be known to exist to collectors. After nearly a century of searching, this “Holy Grail” of Florida national bank notes made its debut during Lyn Knight’s recent PCDA currency auction, and a grand one it was.

At $132,250, more than double its high estimate of $60,000, the Fort Meade, First National Bank note, S10386, brought a world record price. When the hammer finally fell, William Youngerman’s number was the only one left while the crowded auction room broke into applause.

Youngerman, a rare coin and currency dealer in Boca Raton, Fla., maintains one of the largest collections ever assembled of Florida notes and was there for the dream acquisition. Against competition at Knight’s auction, more than half a dozen bidders fought it out to what would be a record auction price for a third charter national bank note, and the second highest auction price ever paid for any national bank note.

Price reported includes the 15 percent buyer’s premium.