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Old Money from The State National Bank Of South McAlester | 5537

The State National Bank Of South McAlester

The State National Bank Of South McAlester in Oklahoma printed $18,100 dollars worth of national currency. Very few banks in the country issued less than $25,000 face value of national bank notes. Currency from this bank should be very rare. This national bank opened in 1900 and stopped printing money in 1902, which equals a 3 year printing period. That means that money from this bank was not entering circulation very often. During its life, The State National Bank Of South McAlester 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 State National Bank Of South McAlester was located in Pittsburg County. It was assigned charter number 5537.

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The State National Bank Of South McAlester in Oklahoma printed 362 sheets of $10 1882 territorial brown back 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. 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 State National Bank Of South McAlester printed 362 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

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