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Old Money from The First National Bank Of Checotah | 5128

The First National Bank Of Checotah

The First National Bank Of Checotah in Oklahoma printed $757,040 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 1898 and stopped printing money in 1927, which equals a 30 year printing period. That is a fairly normal lifespan for a national bank. During its life, The First National Bank Of Checotah issued 12 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 Checotah was located in McIntosh County. It was assigned charter number 5128.

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The First National Bank Of Checotah in Oklahoma issued 1,275 sheets of $5 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. 1882 five dollar territorial brown backs are the lifeblood of the territorial collecting community. They were issued by virtually every territory (with exception of Alaska, Nebraska, and Porto Rico). A total of 109 national banks printed $5 brown back territorials. There are around 120 notes known to exist. That is a pretty high survival rate. Ironically though, the fact that lots of these exist is part of the reason that they are so collectible. More than one collector can reasonably try to put together a set. Ultra-rarities are always expensive, but often times they end up as outliers to collections. 1882 five dollar brown backs have always been popular. When you combine that with the appeal of a territorial, then you have a real winner. You can contact us to learn the true value and rarity of your note. In the meantime, take the number of sheets printed and multiply it by four, that will give you the total number of 1882 $5 territorials issued.
Series of 1882 $5 Territorial Brown Back

The First National Bank Of Checotah printed 940 sheets of $10 1882 territorial brown back national bank notes. A print run under 1,000 will get the attention of most people. Combine that with a territorial and you have a real winner. 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 Checotah also printed 940 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 Checotah also printed 1,500 sheets of $5 1882 brown back national bank notes. That sheet output number is small. Don’t expect too many of these to be available to collectors. 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 Of Checotah also printed 1,200 sheets of $10 1882 brown back national bank notes. That sheet output number is small. Don’t expect too many of these to be available to collectors. 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 Checotah also printed 1,200 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 Checotah also printed 4,750 sheets of $5 1882 blue seal national bank notes. That is a pretty standard sheet output number for these issues. Most of the value is going to be in the condition. 1882 $5 blue seal bank notes were issued by some national banks in The United States. While these are a somewhat rarer issue, they just aren’t especially popular with collectors. With exception of some minor differences, they look exactly like the earlier brown back series. Most collectors would prefer the brown back notes. With that said, some 1882 blue seals can still be worth thousands of dollars. So don’t just assume that what you have is automatically common.
1882 Blue Seal $5 National Bank Note

The First National Bank Of Checotah also printed 3,300 sheets of $10 1882 blue seal national bank notes. That is a pretty standard sheet output number for these issues. Most of the value is going to be in the condition. All of these notes say series of 1882 but they were actually printed between 1908 and 1921. So they aren’t quite as old as the dates might suggest. There is also a date on these notes that is between 1888 and 1901. That date is written in cursive text and it represents when the bank was chartered or re-chartered. Some of the so called 1882 value back notes have a chance to be really rare. Most of the earlier notes that say 1882-1908 on the back are likely going to be relatively common. The designs are exactly the same on the front. Each has a blue seal and charter number.
1882 Blue Seal $10 National Bank Note

The First National Bank Of Checotah also printed 3,300 sheets of $20 1882 blue seal national bank notes. That is the same number of sheets as the ten dollar denomination. You don’t have to multiply by three to get the exact number of notes issued though. There was only one twenty dollar bill per sheet. As with any national bank note, the exact value is still based on the condition, serial number, and bank of issue.
1882 Blue Seal $20 National Bank Note

The First National Bank Of Checotah also printed 6,302 sheets of $5 1902 blue seal national bank notes. That is a fairly standard sheet output for a national bank issuing blue seals. You likely aren’t dealing with a super common or a super rare bank note. 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 First National Bank Of Checotah also printed 4,170 sheets of $10 1902 blue seal national bank notes. Many small national banks could be in business for years and only print between 2,500 and 5,000 sheets of blue seals. 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 First National Bank Of Checotah also printed 4,170 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

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