The First National Bank Of Milburn
The First National Bank Of Milburn in Oklahoma printed $12,550 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 1905 and stopped printing money in 1909, which equals a 5 year printing period. That is obviously a very short period of time. During its life, The First National Bank Of Milburn 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 Milburn was located in Johnston County. It was assigned charter number 7842.
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The First National Bank Of Milburn in Oklahoma printed 251 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 Milburn printed 251 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