Old Money from The First National Bank Of Milltown | 8650
The First National Bank Of Milltown
The First National Bank Of Milltown in Indiana printed $224,670 dollars worth of national currency. That is a small output. National bank notes from here should be scarce. This national bank opened in 1907 and stopped printing money in 1935, which equals a 29 year printing period. That is a fairly normal lifespan for a national bank. During its life, The First National Bank Of Milltown 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 Milltown was located in Crawford County. It was assigned charter number 8650.
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The First National Bank Of Milltown in Indiana issued 195 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 Milltown printed 195 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 Milltown also printed 3,383 sheets of $10 1902 blue seal national bank notes. Many small national banks could be in business for years and only print between 2,500 and 5,000 sheets of blue seals. 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 Milltown also printed 3,383 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 Milltown also printed 482 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 Milltown also printed 130 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
The First National Bank Of Milltown also printed 95 individual notes from the type2 1929 $10 national bank note series. Type2 1929 national bank notes are already rare to begin with. A printing of less than 1,000 is especially low. The easiest way to spot the difference between type1 1929 $10 bills and 1929 type2 $10 bills is in the serial number. Type2 notes have a serial number that ends with a number. 1929 type1 notes have a serial number that ends with the letter A. Generally speaking, these $10 bills are rarer than the earlier type1 issues. However, most collectors don’t pay more for that rarity because they look basically the same.
Series of 1929 Type2 $10 National Bank Note
The First National Bank Of Milltown also printed 15 individual notes from the type2 1929 $20 national bank note series. Type2 1929 national bank notes are already rare to begin with. A printing of less than 1,000 is especially low. One of the great things about 1929 type2 $20 national bank notes is that they really aren’t that old and some can be extremely rare. Until the big head $20 series started there really wasn’t much difference between something printed in 1929 and the same bill printed in 1993. We have bought some examples in the past few months that people just found in their change.
Series of 1929 Type2 $20 National Bank Note