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Old Money from The First National Bank Of Schoolcraft | 1725

The First National Bank Of Schoolcraft

The First National Bank Of Schoolcraft in Michigan printed $68,600 dollars worth of national currency. A production number that low doesn’t save room for many survivors. Currency from this bank will be rare. This national bank opened in 1870 and stopped printing money in 1875, which equals a 6 year printing period. That is obviously a very short period of time. During its life, The First National Bank Of Schoolcraft issued 2 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 Schoolcraft was located in Kalamazoo County. It was assigned charter number 1725.

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The First National Bank Of Schoolcraft in Michigan printed 3,250 sheets of $5 original series national bank notes. It is actually pretty standard for an early national bank to have a sheet output range between 2,500 and 5,000. The exact value of a bill is still going to be based on the number of notes known and the condition of each bank note. 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 Schoolcraft printed 180 sheets of $5 series of 1875 national bank notes. It is rare to see a sheet output of under 1,000 like this. However, it did happen for some very scarce issuers. Series of 1875 $5 bills are some of the most commonly encountered bank notes from the first charter series. Only the original series $1 bill is more available. Some banks exclusively issued five dollar bills. So if you want an example from one of those banks then you don’t have many options. These notes have a rounded red seal and red serial numbers. They also all have a red charter number.
Series of 1875 $5 National Bank Note

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