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Old Money from The First National Bank Of McLoud | 6660

The First National Bank Of McLoud

The First National Bank Of McLoud in Oklahoma printed $120,100 dollars worth of national currency. That is a small output. National bank notes from here should be scarce. This national bank opened in 1903 and stopped printing money in 1932, 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 McLoud 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 McLoud was located in Pottawatomie County. It was assigned charter number 6660.

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The First National Bank Of McLoud in Oklahoma printed 375 sheets of $10 1902 territorial red seal national bank notes. Collectors love to buy notes from such a small print run. It doesn’t get much smaller than under 500 sheets printed. This denomination and type was the most prolifically issued territorial note. Some can be quite rare. There is a hierarchy in terms of rarity. Red seals from Hawaii are the absolute rarest. In fact, none from Hawaii are currently known to exist. Ten dollar red seals from Porto Rico are also extremely rare, as are red seals from Alaska. The average collector is most likely to encounter red seals from Arizona, New Mexico, and Oklahoma. There were far more territorial banks in Oklahoma during the red seal period than any other state, so notes from Oklahoma are the most common. However, most all red seals should be worth more than $10,000, and sometimes considerably more. William McKinley is pictured on the left hand side of each bill. The number under McKinley is the bank serial number. If that number is #1, then you can expect an additional premium on the value.
1902 $10 Red Seal Territorial National Bank Note

The First National Bank Of McLoud printed 375 sheets of $20 1902 territorial red seal national bank notes. That of course equals the number of sheets printed for the ten dollar denomination. A total of 259 national banks in the country issued $20 territorial red seals. There are currently only about 30 of them known to exist, and that total includes all national banks. That survival rate is really poor. That means that these notes are rare and valuable. They were usually printed in small quantities and very few new ones are found these days. High grade examples are scarce as are notes printed by banks not located in Oklahoma.
1902 $20 Red Seal Territorial National Bank Note

The First National Bank Of McLoud also printed 100 sheets of $10 1902 red seal national bank notes. All red seals are very rare. But that sheet output is extremely low. We would love to see a picture of what you have. Collectors love ten dollar 1902 red seals. They usually represent the rarest bank notes printed by any national bank. Don’t let the term “series of 1902” confuse you. These were actually printed for about six years between 1902 and 1908. That is obviously a very short issue period which means that many red seals are quite rare. Each note has a portrait of William McKinley. Be sure to check the number under McKinley. If it is #1 then you are dealing with a note from the first sheet of bank notes issued. Number one bank notes are worth even more money than the already rare red seals.
1902 $10 Red Seal National Bank Note

The First National Bank Of McLoud also printed 100 sheets of $20 1902 red seal national bank notes. Twenty dollar red seal bank notes have poor survival rates. They don’t command premiums compared to the ten dollar denomination, but they are definitely rarer. All 1902 red seals were printed on four note sheets. There were three ten dollar bills and one twenty dollar bill per sheet. The 1902 $20 notes have a portrait of Hugh McCulloch on them. The charter number and seal are both printed in red ink. The serial numbers have a slight blue tint to them. The charter number is printed around the border of the note several times. The bank’s title is right in the middle of the note and the state of issue is printed just below the title. Remember that all national bank notes are valued based on their condition and rarity. The same rule applies to 1902 $20 red seals.
1902 $20 Red Seal National Bank Note

The First National Bank Of McLoud also printed 1,591 sheets of $10 1902 blue seal national bank notes. Most banks that printed such a small number of blue seal bank notes fall into the rare bank category. 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 McLoud also printed 1,591 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

The First National Bank Of McLoud also printed 210 sheets of Type1 1929 $10 national bank notes. That may sound like a very small number, and it is. However, when it comes to small size notes, that print range usually allows for a handful of survivors. Each $10 bill from 1929 has a portrait of Alexander Hamilton on it. The black number written vertically is the charter number. The charter number never affects the value; it is just an identifier. The ten dollar type1 national bank note happens to be the single most common national bank note, with over 65,000 known to exist from all banks. Of course each note is valued based on its condition and rarity. Some are very rare.
Series of 1929 Type1 $10 National Bank Note

The First National Bank Of McLoud also printed 35 sheets of Type1 1929 $20 national bank notes. That is an extremely small sheet printing number. Survivors are still likely but definitely not guaranteed. Andrew Jackson is featured on the front of each 1929 $20 bill. Be sure to take note of the serial number on your specific bank note. If it is 000001 then you can expect a nice premium. There is a special market for serial number one bank notes. Of course, even if the number isn’t #1, it could still be collectible and have a high value just based on its condition and rarity alone.
Series of 1929 Type1 $20 National Bank Note

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