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Old Money from The First National Bank Of Minot | 4009

The First National Bank Of Minot

The First National Bank Of Minot in North Dakota printed $30,700 dollars worth of national currency. In the scheme of things, that is a very tiny output. Notes from this bank should be rare. This national bank opened in 1889 and stopped printing money in 1896, which equals a 8 year printing period. That is obviously a very short period of time. During its life, The First National Bank Of Minot issued 8 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 Of Minot was located in Ward County. It was assigned charter number 4009.

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The First National Bank Of Minot in North Dakota printed 100 sheets of $10 1882 territorial brown back national bank notes. That is a remarkably small number. Any note known to exist from a print run like that would be a true statistical miracle of survival. The ten dollar 1882 territorial brown back was printed by more than 200 national banks, and more than 200 pieces are known to exist today. That number tends to go up by a handful each year as more are discovered. Often times the $10 territorial was the first and lowest denomination a bank received. About a dozen #1 specimens are held by collectors today, and there are probably many more still held by descendants of early pioneer bankers. Territorial bank notes are the cream of the crop when it comes to national bank notes. Most are at least rare and some can be very valuable. As always, the exact value is still based on bank of issue and condition. Something ugly from Oklahoma might only be worth $3,000, but other examples could be worth well over $10,000.
Series of 1882 $10 Territorial Brown Back

The First National Bank Of Minot printed 100 sheets of $20 1882 territorial brown back national bank notes. That number also represents the total number of twenty dollar bills printed for the type. Whether you have a ten or a twenty dollar territorial brown back, you should work with an expert to establish the value. Twenty dollar notes from this series were only printed at the rate of one to three compared to tens, but sadly, $20 1882 brown backs really don’t command a premium for their extra rarity. Only around fifty are known to exist today.
Series of 1882 $20 Territorial Brown Back

The First National Bank Of Minot also printed 50 sheets of $50 1882 territorial brown back national bank notes. That is a remarkably small number. Any note known to exist from a print run like that would be a true statistical miracle of survival. The $50 1882 territorial brown back is a great rarity. Only two are known to exist. You have to remember that $50 was a large sum of money during the time these were originally printed, which started in 1882 and lasted until 1908 (on very rare occasions). People could save a coin or maybe even a five dollar bill as a curiosity item or a keepsake. No one really wanted to tie up $50 for the foreseeable future. There was no collectible paper currency market until the 1950s. So even if you had something like this sixty years after it was originally printed, it was still just worth the face value of $50. Of course that has all changed today. These are now great rarities appreciated by the collecting hobby.
Series of 1882 $50 Territorial Brown Back

The First National Bank Of Minot also printed 50 sheets of $100 1882 territorial brown back national bank notes. That is the same output for individual $50 bills. Most regular issue $100 brown backs are worth around $5,000. However, we are talking about territorial $100 brown backs. These are much rarer. In fact, they were only printed by a total of 25 different national banks and only about ten are known to exist! So needless to say, these are quite rare. This high denomination was printed by all of the usual territories you expect to see: Montana, Washington, Arizona, Hawaii, North Dakota, New Mexico, Oklahoma, South Dakota, and Utah. The notes that are known to exist are split between Oklahoma, Utah, and New Mexico. So if you have a new state, then that will certainly be in demand.
Series of 1882 $100 Territorial Brown Back

The First National Bank Of Minot also printed 398 sheets of $10 1882 brown back national bank notes. Very few national banks issued such a small number of 1882 brown backs. There were three $10 bills printed on a single sheet of 1882 brown backs. The design of the bill is similar to all earlier ten dollar national bank notes. The nickname comes from the fact that these bills have a brown seal and brown overprint. Despite saying series of 1882, these were actually printed by some banks up until 1908. The date you see in cursive relates to when the bank first started issuing brown back notes.
Series of 1882 $10 Brown Back

The First National Bank Of Minot also printed 398 sheets of $20 1882 brown back national bank notes. As you can see, the sheet output is the same for $20 brown backs as it is for $10 brown backs. There was only one $20 brown back printed on a sheet. So the sheet output also equals the total note output. One neat thing about all brown backs is that they each have a different back design based on which state issued them. The back left hand side of the note shows the state seal of which ever state the national bank was located in. Generally speaking, 1882 $20 brown backs are pretty difficult to locate. They typically were printed in small numbers and they don’t have a great survival rate.
Series of 1882 $20 Brown Back

The First National Bank Of Minot also printed 72 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 Of Minot also printed 72 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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