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Old Money from The Passaic National Bank & TC Passaic | 12205

The Passaic National Bank & TC Passaic

The Passaic National Bank & TC Passaic in New Jersey printed $14,769,080 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 1922 and stopped printing money in 1935, which equals a 14 year printing period. That is actually quite brief in terms of bank existence. During its life, The Passaic National Bank & TC Passaic 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 Passaic National Bank & TC Passaic was located in Passaic County. It was assigned charter number 12205.

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The Passaic National Bank & TC Passaic in New Jersey printed 171,372 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

The Passaic National Bank & TC Passaic printed 171,372 sheets of $20 1902 blue seal national bank notes. The same rarity rules for 1902 $10 blue seals also apply to $20 blue seals. Just remember that $20 bills are by nature three times rarer (unfortunately they don’t command a premium over other denominations). Hugh McCulloch is pictured on the front of each bill. Contact us if you need pricing help.
1902 $20 Blue Seal National Bank Note

The Passaic National Bank & TC Passaic also printed 55,064 sheets of Type1 1929 $10 national bank notes. Once you start talking about sheet printing numbers over 50,000 then there is no chance that issue will be rare. However, there could still be lots of collector value based on popularity and condition. Each $10 bill from 1929 has a portrait of Alexander Hamilton on it. The black number written vertically is the charter number. The charter number never affects the value; it is just an identifier. The ten dollar type1 national bank note happens to be the single most common national bank note, with over 65,000 known to exist from all banks. Of course each note is valued based on its condition and rarity. Some are very rare.
Series of 1929 Type1 $10 National Bank Note

The Passaic National Bank & TC Passaic also printed 16,442 sheets of Type1 1929 $20 national bank notes. Sadly, based on a number that high, there is basically no chance for these notes to be especially rare. Andrew Jackson is featured on the front of each 1929 $20 bill. Be sure to take note of the serial number on your specific bank note. If it is 000001 then you can expect a nice premium. There is a special market for serial number one bank notes. Of course, even if the number isn’t #1, it could still be collectible and have a high value just based on its condition and rarity alone.
Series of 1929 Type1 $20 National Bank Note

The Passaic National Bank & TC Passaic also printed 58,008 individual notes from the type2 1929 $10 national bank note series. That is a high printing total. Don’t expect much rarity here, but condition factors can always make common items more valuable. The easiest way to spot the difference between type1 1929 $10 bills and 1929 type2 $10 bills is in the serial number. Type2 notes have a serial number that ends with a number. 1929 type1 notes have a serial number that ends with the letter A. Generally speaking, these $10 bills are rarer than the earlier type1 issues. However, most collectors don’t pay more for that rarity because they look basically the same.
Series of 1929 Type2 $10 National Bank Note

The Passaic National Bank & TC Passaic also printed 17,179 individual notes from the type2 1929 $20 national bank note series. This is a pretty typical print run for type2 national bank notes. Values will be across the board based on demand. One of the great things about 1929 type2 $20 national bank notes is that they really aren’t that old and some can be extremely rare. Until the big head $20 series started there really wasn’t much difference between something printed in 1929 and the same bill printed in 1993. We have bought some examples in the past few months that people just found in their change.
Series of 1929 Type2 $20 National Bank Note

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