Old Money from The Merchants National Bank Of Memphis | 1407
The Merchants National Bank Of Memphis
The Merchants National Bank Of Memphis in Tennessee printed $270,800 dollars worth of national currency. That is a pretty standard output. However, some types of currency from this bank could still be rare. This national bank opened in 1865 and stopped printing money in 1873, which equals a 9 year printing period. That is obviously a very short period of time. During its life, The Merchants National Bank Of Memphis issued 3 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 Memphis was located in Shelby County. It was assigned charter number 1407.
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The Merchants National Bank Of Memphis in Tennessee printed 7,300 sheets of $5 original series national bank notes. Just because a print range is between 5,000 and 10,000 doesn’t mean that individual notes will be easy to buy. That number isn’t really high or low. Some notes are extremely rare and some could be from a hoard. Values are determined based on condition and the number of known survivors. Each five dollar original series bank note has a spiked red seal. That is pretty much the only design difference between it and later issues. These are really beautiful notes. One neat thing about these is that the back of each note has a vignette of the corresponding state seal. Some of the state seals are very imaginative. Collecting by state seal was very popular early on in the hobby. Today most collectors are more concerned about bank of issue and condition. Serial number one bank notes are also extremely popular.
Original Series $5 National Bank Note
The Merchants National Bank Of Memphis printed 2,496 sheets of $10 original series national bank notes. A print range between 1,000 and 2,500 is small. Combine that with something that was printed before 1875 and you can imagine that these notes are few and far between. These notes were issued during the glory days of the national bank note era. Each $10 bill was pen signed by the president and cashier of the bank. Small towns and large cities both issued these notes. Of course the small town issuers tend to be scarcer today. Prices range from $500 to thousands of dollars (and more if the condition and rarity warrant it). Contact us if you need help valuing your bank note.
Original Series $10 National Bank Note
The Merchants National Bank Of Memphis also printed 2,496 sheets of $20 original series national bank notes. That issue number may or may not sound like a lot of sheets depending on your experience with collectible currency. However, all original series $20 bills are rare. The production amount is irrelevant when it comes to values. These seem like common issues until you want to buy one. These just aren’t readily available from rare banks in very fine or better condition. We definitely feel like these are undervalued in today’s market.
Original Series $20 National Bank Note