Old Money from The Farmers National Bank Of Owatonna | 2122
The Farmers National Bank Of Owatonna
The Farmers National Bank Of Owatonna in Minnesota printed $203,360 dollars worth of national currency. That is a small output. National bank notes from here should be scarce. This national bank opened in 1873 and stopped printing money in 1935, which equals a 63 year printing period. That is considering a long operation period for a national bank. During its life, The Farmers National Bank Of Owatonna issued 6 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 Farmers National Bank Of Owatonna was located in Steele County. It was assigned charter number 2122.
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The Farmers National Bank Of Owatonna in Minnesota printed 1,500 sheets of $1 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. One of the most interesting things about early first charter one dollar national bank notes is all of the different slight variations you can find. Some notes have a red charter number, others do not. Some have red serial numbers and some have blue serial numbers. Some are printed on white paper and others are printed on paper with a slight blue tint. You can really find lots of different ways to collect these. Generally speaking, prices for “first charter aces” are down from their highs. So there are some bargains in this arena of collecting.
Original Series $1 National Bank Note
The Farmers National Bank Of Owatonna printed 1,500 sheets of $2 original series national bank notes. It is important to know production numbers for original series two dollar bills for informational purposes. All $2 bills printed before 1875 are very rare and highly desirable. Most survivors represent the only known example for that bank. Collectors call these $2 bills lazy deuces. The large two on the face of the bill is pictured horizontally, thus making it look lazy. Don’t be fooled by the silly name though. These can be worth significant amounts of money on many occasions.
Original Series $2 National Bank Note
The Farmers National Bank Of Owatonna also printed 2,375 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 Farmers National Bank Of Owatonna also printed 1,020 sheets of $1 series of 1875 national bank notes. Any time you see a print range between 1,000 and 2,500 you can assume that the bank was small and that their notes could be fairly scarce. Series of 1875 one dollar first charter national bank notes were only printed between 1875 and 1878. That is the shortest production period of any national bank note. That doesn’t automatically mean that these are worth thousands of dollars, but they could be. Collectors often don’t differentiate between original series and 1875 notes because they look so similar.
Series of 1875 $1 National Bank Note
The Farmers National Bank Of Owatonna also printed 1,020 sheets of $2 series of 1875 national bank notes. If you are lucky enough to have a two dollar note from 1875 then don’t get too hung up on the number of bills printed. All notes are rare and in demand; we would be happy to help you value yours. There was only one $2 bill printed per sheet of national currency. So that sheet number also equals the total number of bank notes printed for the denomination. And as we said above, these were also only printed until 1878. That is one of the main reasons they are so rare today.
Series of 1875 $2 National Bank Note
The Farmers National Bank Of Owatonna also printed 7,163 sheets of $5 series of 1875 national bank notes. A print range between 5,000 and 10,000 is a pretty high number. But you have to remember we are talking about bank notes from the 1870s and 1880s. Even banks with high issue numbers could be rare today. 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