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Old Money from The First National Bank Of Forrest | 7680

The First National Bank Of Forrest

The First National Bank Of Forrest in Illinois printed $121,050 dollars worth of national currency. That is a small output. National bank notes from here should be scarce. This national bank opened in 1905 and stopped printing money in 1914, which equals a 10 year printing period. That is actually quite brief in terms of bank existence. During its life, The First National Bank Of Forrest issued 4 different types and denominations of national currency. We have examples of the types listed below. Your bank note should look similar. Just the bank name will be different. For the record, The First National Bank Of Forrest was located in Livingston County. It was assigned charter number 7680.

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The First National Bank Of Forrest in Illinois issued 1,100 sheets of $10 1902 red seal national bank notes. A print range between 1,000 and 2,500 is pretty standard for red seals. Despite being standard, in the scheme of things that is still an extremely small quantity printed. Collectors love ten dollar 1902 red seals. They usually represent the rarest bank notes printed by any national bank. Don’t let the term “series of 1902” confuse you. These were actually printed for about six years between 1902 and 1908. That is obviously a very short issue period which means that many red seals are quite rare. Each note has a portrait of William McKinley. Be sure to check the number under McKinley. If it is #1 then you are dealing with a note from the first sheet of bank notes issued. Number one bank notes are worth even more money than the already rare red seals.
1902 $10 Red Seal National Bank Note

The First National Bank Of Forrest printed 1,100 sheets of $20 1902 red seal national bank notes. Twenty dollar red seal bank notes have poor survival rates. They don’t command premiums compared to the ten dollar denomination, but they are definitely rarer. All 1902 red seals were printed on four note sheets. There were three ten dollar bills and one twenty dollar bill per sheet. The 1902 $20 notes have a portrait of Hugh McCulloch on them. The charter number and seal are both printed in red ink. The serial numbers have a slight blue tint to them. The charter number is printed around the border of the note several times. The bank’s title is right in the middle of the note and the state of issue is printed just below the title. Remember that all national bank notes are valued based on their condition and rarity. The same rule applies to 1902 $20 red seals.
1902 $20 Red Seal National Bank Note

The First National Bank Of Forrest also printed 1,321 sheets of $10 1882 blue seal national bank notes. 1882 blue seals are traditionally not the most popular national bank notes. However, when we are talking about such a low print number, these become much more desirable. All of these notes say series of 1882 but they were actually printed between 1908 and 1921. So they aren’t quite as old as the dates might suggest. There is also a date on these notes that is between 1888 and 1901. That date is written in cursive text and it represents when the bank was chartered or re-chartered. Some of the so called 1882 value back notes have a chance to be really rare. Most of the earlier notes that say 1882-1908 on the back are likely going to be relatively common. The designs are exactly the same on the front. Each has a blue seal and charter number.
1882 Blue Seal $10 National Bank Note

The First National Bank Of Forrest also printed 1,321 sheets of $20 1882 blue seal national bank notes. That is the same number of sheets as the ten dollar denomination. You don’t have to multiply by three to get the exact number of notes issued though. There was only one twenty dollar bill per sheet. As with any national bank note, the exact value is still based on the condition, serial number, and bank of issue.
1882 Blue Seal $20 National Bank Note

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