Old Money from The Farmers & Merchants National Bank Of Hobart | 6358
The Farmers & Merchants National Bank Of Hobart
The Farmers & Merchants National Bank Of Hobart in Oklahoma printed $154,900 dollars worth of national currency. That is a small output. National bank notes from here should be scarce. This national bank opened in 1902 and stopped printing money in 1935, which equals a 34 year printing period. That is a fairly normal lifespan for a national bank. During its life, The Farmers & Merchants National Bank Of Hobart issued 4 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 Farmers & Merchants National Bank Of Hobart was located in Kiowa County. It was assigned charter number 6358.
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The Farmers & Merchants National Bank Of Hobart in Oklahoma printed 770 sheets of $10 1902 territorial red seal national bank notes. A print run under 1,000 will get the attention of most people. Combine that with a territorial and you have a real winner. This denomination and type was the most prolifically issued territorial note. Some can be quite rare. There is a hierarchy in terms of rarity. Red seals from Hawaii are the absolute rarest. In fact, none from Hawaii are currently known to exist. Ten dollar red seals from Porto Rico are also extremely rare, as are red seals from Alaska. The average collector is most likely to encounter red seals from Arizona, New Mexico, and Oklahoma. There were far more territorial banks in Oklahoma during the red seal period than any other state, so notes from Oklahoma are the most common. However, most all red seals should be worth more than $10,000, and sometimes considerably more. William McKinley is pictured on the left hand side of each bill. The number under McKinley is the bank serial number. If that number is #1, then you can expect an additional premium on the value.
1902 $10 Red Seal Territorial National Bank Note
The Farmers & Merchants National Bank Of Hobart printed 770 sheets of $20 1902 territorial red seal national bank notes. That of course equals the number of sheets printed for the ten dollar denomination. A total of 259 national banks in the country issued $20 territorial red seals. There are currently only about 30 of them known to exist, and that total includes all national banks. That survival rate is really poor. That means that these notes are rare and valuable. They were usually printed in small quantities and very few new ones are found these days. High grade examples are scarce as are notes printed by banks not located in Oklahoma.
1902 $20 Red Seal Territorial National Bank Note
The Farmers & Merchants National Bank Of Hobart also printed 2,328 sheets of $10 1902 blue seal national bank notes. Most banks that printed such a small number of blue seal bank notes fall into the rare bank category. 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 Farmers & Merchants National Bank Of Hobart also printed 2,328 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