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Old Money from The National Bank Of Commerce Of Detroit | 8703

The National Bank Of Commerce Of Detroit

The National Bank Of Commerce Of Detroit in Michigan printed $10,512,310 dollars worth of national currency. Once a bank issues that much money there really isn’t much room for rare issues. However, there are certainly exceptions to every rule. This national bank opened in 1907 and stopped printing money in 1933, which equals a 27 year printing period. That is a fairly normal lifespan for a national bank. During its life, The National Bank Of Commerce Of Detroit 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 National Bank Of Commerce Of Detroit was located in Wayne County. It was assigned charter number 8703.

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The National Bank Of Commerce Of Detroit in Michigan printed 9,050 sheets of $10 1902 red seal national bank notes. That may sound like a high number. However, red seals did not survive in large numbers. It is likely still quite rare. 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 National Bank Of Commerce Of Detroit printed 4,455 sheets of $50 1902 blue seal national bank notes. There is no trick to knowing which 1902 blue seals will be common and rare. Often times the number printed won’t tell you much information. The value still comes down to condition and demand. That is a surprise to most people. In fact, most 1902 $50 bills we see are worth between $750 and $1,250. The rarer ones can be worth more than $5,000. However, there isn’t much middle ground.
1902 $50 Blue Seal National Bank Note

The National Bank Of Commerce Of Detroit also printed 4,455 sheets of $100 1902 blue seal national bank notes. It is no coincidence that the sheet numbers for $50 bills and $100 bills are the same. They were printed on the same sheets. Most $100 blue seals are at least scarce; others can be very rare. John J Knox is printed on the front of each bill. Most collectors like the back design a lot more though. It is really unique and different from most other national bank notes. Prices for 1902 $100 blue seals are pretty similar to $50 blue seals. They are both equally common or equally rare, depending on how you look at it.
1902 $100 Blue Seal National Bank Note

The National Bank Of Commerce Of Detroit also printed 95,396 sheets of $10 1902 blue seal national bank notes. Sadly, a printing range that high means that these blue seal bank notes from this bank are not going to be extremely rare. 1902 $10 blue seal bank notes all have a portrait of William McKinley on them. Values can range from as little as $40 up to over $10,000. There really is no trick to know what is rare and what is common by just doing an internet search. You really need to work with an expert (like us) in order to determine the value of your specific bank note. There are at least ten different factors than can make some 1902 $10 blue seals worth more than others. We know exactly what to look for and we would be happy to provide a free appraisal and our best offer.
1902 $10 Blue Seal National Bank Note

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