Old Money from The Merchants National Bank Of Portland | 3536
The Merchants National Bank Of Portland
The Merchants National Bank Of Portland in Oregon printed $1,811,150 dollars worth of national currency. Over $1,000,000 face value is a lot of money. However, some types and denominations of currency from this bank could still be rare. This national bank opened in 1886 and stopped printing money in 1916, which equals a 31 year printing period. That is a fairly normal lifespan for a national bank. During its life, The Merchants National Bank Of Portland issued 6 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 Merchants National Bank Of Portland was located in Multnomah County. It was assigned charter number 3536.
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The Merchants National Bank Of Portland in Oregon issued 14,348 sheets of $10 1882 brown back national bank notes. When we start talking about a printing number in the five figure range, then you are likely not dealing with a great rarity. However, the note could certainly still be popular and valuable. 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 Merchants National Bank Of Portland printed 14,348 sheets of $20 1882 brown back national bank notes. Due to the way brown back sheets were printed we know that the sheet output number equals the number of $20 brown backs printed. When we see a number over 10,000 there is a good chance that the note isn’t going to be especially rare. However, it never hurts to ask. 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 Merchants National Bank Of Portland also printed 1,300 sheets of $50 1902 red seal national bank notes. That is also the exact number of $50 red seals printed by this bank. Each sheet contained one $50 bill and one $100 bill. They are all extremely rare. The value for a generic circulated example is usually around $4,000. Most are worth more and some can be worth considerably more. John Sherman is pictured on each note. Otherwise it has the same markings you would expect to find on any 1902 red seal.
1902 $50 Red Seal National Bank Note
The Merchants National Bank Of Portland also printed 1,300 sheets of $100 1902 red seal national bank notes. As we said above, all high denomination 1902 red seals are extremely rare. The number of notes printed really doesn’t matter to collectors. 1902 $100 red seals are rare to the point that they are always in demand. Of course the standard valuation rules still apply. Condition and bank of issue are of paramount importance. We have paid over $12,000 for some of the rarest specimens.
1902 $100 Red Seal National Bank Note
The Merchants National Bank Of Portland also printed 2,600 sheets of $50 1902 blue seal national bank notes. There is no trick to knowing which 1902 blue seals will be common and rare. Often times the number printed won’t tell you much information. The value still comes down to condition and demand. That is a surprise to most people. In fact, most 1902 $50 bills we see are worth between $750 and $1,250. The rarer ones can be worth more than $5,000. However, there isn’t much middle ground.
1902 $50 Blue Seal National Bank Note
The Merchants National Bank Of Portland also printed 2,600 sheets of $100 1902 blue seal national bank notes. It is no coincidence that the sheet numbers for $50 bills and $100 bills are the same. They were printed on the same sheets. Most $100 blue seals are at least scarce; others can be very rare. John J Knox is printed on the front of each bill. Most collectors like the back design a lot more though. It is really unique and different from most other national bank notes. Prices for 1902 $100 blue seals are pretty similar to $50 blue seals. They are both equally common or equally rare, depending on how you look at it.
1902 $100 Blue Seal National Bank Note