The First National Bank Of Carmen
The First National Bank Of Carmen in Oklahoma printed $14,300 dollars worth of national currency. Very few banks in the country issued less than $25,000 face value of national bank notes. Currency from this bank should be very rare. This national bank opened in 1903 and stopped printing money in 1905, which equals a 3 year printing period. That means that money from this bank was not entering circulation very often. During its life, The First National Bank Of Carmen issued 2 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 Carmen was located in Alfalfa County. It was assigned charter number 6719.
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The First National Bank Of Carmen in Oklahoma printed 286 sheets of $10 1902 territorial red seal national bank notes. Collectors love to buy notes from such a small print run. It doesn’t get much smaller than under 500 sheets printed. 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 First National Bank Of Carmen printed 286 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