National Currency – 1902 Red Seal – Twenty Dollars
National Currency - 1902 Red Seal - Twenty Dollars
Red Seals! 1902 $20 red seal national bank notes are always in demand. They usually represent the best of the best when it comes to small town banking. Due to changes in legislation, 1902 was the first year that many small town banks became large enough to nationalize. If a bank opened in 1902 then the first type of paper money they would have issued was 1902 red seals. Most of the smaller banks chose to issue sheets of red seals. The sheets had 3 $10 bills and 1 $20 bill. That means that red seal $20s are often many times rarer because they were printed so infrequently. All 1902 red seals were only printed between 1902 and 1908. That is the shortest printing period of any large size national bank note. The number under the portrait of Hugh McCulloch is important, as is the bank of issue. Some red seals are worth $200, others are worth thousands of dollars.
We are very interested buyers of any $20 red seal. We will tell you if it is rare and exactly what we can offer for it. Please send us an email with a scan or digital photo of the front and back of your note and we can go from there.