Old Money from The Merchants National Bank Of Raleigh | 9471
The Merchants National Bank Of Raleigh
The Merchants National Bank Of Raleigh in North Carolina printed $1,128,000 dollars worth of national currency. Over $1,000,000 face value is a lot of money. However, some types and denominations of currency from this bank could still be rare. This national bank opened in 1909 and stopped printing money in 1923, which equals a 15 year printing period. That is actually quite brief in terms of bank existence. During its life, The Merchants National Bank Of Raleigh 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 Merchants National Bank Of Raleigh was located in Wake County. It was assigned charter number 9471.
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The Merchants National Bank Of Raleigh in North Carolina issued 20,405 sheets of $5 1902 blue seal national bank notes. Once a bank prints more than 10,000 sheets of blue seals it becomes very difficult for those notes to be rare. Ben Harrison is on the front of all 1902 $5 blue seal bank notes. This happens to be the smallest denomination issued for the 1902 series. Each note is complete with a blue seal and blue charter number. Despite saying series of 1902, these were actually issued by national banks between 1908 and 1928. There are two different types of blue seals. The first type is called a date back and it has “1902-1908” written on the back of the bill. The other type is called a plain back; it does not have the date stamps on the back of the bill. The values for these notes range widely based on condition and the bank of issue.
1902 $5 Blue Seal National Bank Note
The Merchants National Bank Of Raleigh printed 14,398 sheets of $10 1902 blue seal national bank notes. Once a bank prints more than 10,000 sheets of blue seals it becomes very difficult for those notes to be 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 Merchants National Bank Of Raleigh also printed 14,398 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