Old Money from The First National Bank Of Ada | 5620
The First National Bank Of Ada
The First National Bank Of Ada in Oklahoma printed $808,150 dollars worth of national currency. That is a high amount, but condition and serial numbers can make otherwise common currency from this bank quite valuable. This national bank opened in 1900 and stopped printing money in 1924, which equals a 25 year printing period. That is a fairly normal lifespan for a national bank. During its life, The First National Bank Of Ada issued 5 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 Ada was located in Pontotoc County. It was assigned charter number 5620.
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The First National Bank Of Ada in Oklahoma issued 1,750 sheets of $10 1882 territorial brown back national bank notes. A total sheet output in the lows 1,000s is a great sign that you own a very rare bank note. 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 Ada printed 1,750 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 Ada also printed 6,111 sheets of $10 1882 territorial blue seal national bank notes. That printing range is high enough to allow for a couple of survivors, but not much more. You can take that sheet number and multiply it by three to get the exact number of 1882 $10 territorial date backs issued by this bank. Only sixteen different banks even printed this exotic issue. The reason for such a low output has to do with timing. 1882 date backs were not issued until 1908. The only places that were still in territorial status at the time were New Mexico, Arizona, Alaska, and Hawaii. Furthermore, to even qualify to issue these notes the bank had to have been opened between 1888 and 1901. You can see why only sixteen banks ended up printing ten dollar bills like this. Most people who aren’t collectors aren’t entirely sure if they have a territorial or not because non-territorials look exactly the same. Just look below the bank’s title. If it says Territory or Ter before the name of the state, then you have a territorial.
1882 Blue Seal $10 Territorial National Bank Note
The First National Bank Of Ada also printed 6,111 sheets of $20 1882 territorial blue seal national bank notes. There was just one twenty dollar bill on each sheet of bank notes. So the sheet number is the same as the individual note output. Currently there are about a dozen 1882 $20 blue seals known to exist. Most of that total is from Hawaii, but Arizona, Alaska, and New Mexico each have single examples to represent the state (or in this case, territory). The design of these notes is just like any other 1882 $20 date back. The left hand side of the note has a man pointing a rifle. The right hand side shows lady liberty or Columbia holding a flag.
1882 Blue Seal $20 Territorial National Bank Note
The First National Bank Of Ada also printed 20,755 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