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Old Money from The First National Bank Salem | 3309

The First National Bank Salem

The First National Bank Salem in New York printed $294,200 dollars worth of national currency. That is a pretty standard output. However, some types of currency from this bank could still be rare. This national bank opened in 1885 and stopped printing money in 1905, which equals a 21 year printing period. That is a fairly normal lifespan for a national bank. During its life, The First National Bank Salem 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 Salem was located in Washington County. It was assigned charter number 3309.

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The First National Bank Salem in New York issued 13,375 sheets of $5 1882 brown back national bank notes. When we start talking about a printing number in the five figure range, then you are likely not dealing with a great rarity. However, the note could certainly still be popular and valuable. You can take the total number of sheets printed and multiply that number by four to get the exact number of 1882 $5 brown back bank notes this bank issued. Each note has a portrait of James Garfield on the left hand side of the bill. These are very popular with collectors because they have different text layouts. Some notes are worth as little as a few hundred dollars, but most are worth a good deal more.
Series of 1882 $5 Brown Back

The First National Bank Salem printed 178 sheets of $50 1882 brown back national bank notes. Fifty dollar 1882 brown backs are few and far between. When the print number is under 1,000 like this bank then there is a great chance that you have a very rare bank note. The most common 1882 $50 brown backs are worth about $5,000. However, some can be worth more than $10,000 based on condition, serial number, and bank of issue.
Series of 1882 $50 Brown Back

The First National Bank Salem also printed 178 sheets of $100 1882 brown back national bank notes. High denomination $50 and $100 brown backs were printed on the same sheet. So the number of sheets printed also equals the number bills printed for each denomination. You can see that $100 brown backs are extremely scarce on this bank. We are very interested in purchasing $100 1882 brown back national bank notes. We have paid more than $15,000 for some examples. Send us pictures of what you have and we will respond quickly with an appraisal and offer.
Series of 1882 $100 Brown Back

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