Old Money from The First National Bank Of Frostburg | 1412
The First National Bank Of Frostburg
The First National Bank Of Frostburg in Maryland printed $48,500 dollars worth of national currency. In the scheme of things, that is a very tiny output. Notes from this bank should be rare. This national bank opened in 1865 and stopped printing money in 1869, which equals a 5 year printing period. That is obviously a very short period of time. During its life, The First National Bank Of Frostburg issued 3 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 Frostburg was located in Allegany County. It was assigned charter number 1412.
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The First National Bank Of Frostburg in Maryland printed 1,425 sheets of $5 original series national bank notes. A print range between 1,000 and 2,500 is small. Combine that with something that was printed before 1875 and you can imagine that these notes are few and far between. Each five dollar original series bank note has a spiked red seal. That is pretty much the only design difference between it and later issues. These are really beautiful notes. One neat thing about these is that the back of each note has a vignette of the corresponding state seal. Some of the state seals are very imaginative. Collecting by state seal was very popular early on in the hobby. Today most collectors are more concerned about bank of issue and condition. Serial number one bank notes are also extremely popular.
Original Series $5 National Bank Note
The First National Bank Of Frostburg printed 400 sheets of $10 original series national bank notes. Any issue of less than 1,000 sheets should be considered extremely scarce. The survival rate for that output is miniscule at best. Rarities like this are of extremely high interest to us. These notes were issued during the glory days of the national bank note era. Each $10 bill was pen signed by the president and cashier of the bank. Small towns and large cities both issued these notes. Of course the small town issuers tend to be scarcer today. Prices range from $500 to thousands of dollars (and more if the condition and rarity warrant it). Contact us if you need help valuing your bank note.
Original Series $10 National Bank Note
The First National Bank Of Frostburg also printed 400 sheets of $20 original series national bank notes. That issue number may or may not sound like a lot of sheets depending on your experience with collectible currency. However, all original series $20 bills are rare. The production amount is irrelevant when it comes to values. These seem like common issues until you want to buy one. These just aren’t readily available from rare banks in very fine or better condition. We definitely feel like these are undervalued in today’s market.
Original Series $20 National Bank Note