Old Money from The Cotton National Bank Of Oakland | 5404
The Cotton National Bank Of Oakland
The Cotton National Bank Of Oakland in Oklahoma printed $390,050 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 1900 and stopped printing money in 1926, which equals a 27 year printing period. That is a fairly normal lifespan for a national bank. During its life, The Cotton National Bank Of Oakland issued 2 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 Cotton National Bank Of Oakland was located in Marshall County. It was assigned charter number 5404.
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The Cotton National Bank Of Oakland in Oklahoma issued 85 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 Cotton National Bank Of Oakland printed 85 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