Serial Number One 1902 Red Seal National Bank Notes

Serial Number One 1902 Red Seal National Bank Notes

Serial number one red seals are especially desirable.  The elusive 1902 red seal represents the best possible survivor for the more than three thousand banks that were chartered during the real seal period.  When you can find a serial number one note from these banks, it is going to be very exciting.

Serial number one 1902 red seals were saved in heavy numbers.  Just before 1902 red seals were issued the capital requirement to issue currency was lowered.  This allowed hundreds of banks and towns to issue red seals.  The pride from finally reaching national bank status meant that hundreds of bankers chose to save the first notes that their bank was issued.

Serial number one red seals can sell for as little as $2,000 if they are especially common and in a lightly circulated condition.  Nicer but still common serial number one red seal are going to bring closer to $3,000 – $5,000.  However, if you can combine rarity, condition, and serial number one on a red seal, then high four figures and even low five figures can be in play.

Red seals were most commonly printed for the ten dollar denomination.  However, serial number one red seals were also saved for the five dollar denomination frequently, just because it was cheaper to save five dollars instead of ten.  Twenty dollar number one red seals are going to command a slight premium over the two lower denominations.  Fifty and One hundred dollar red seals are especially rare, with less than a dozen known to exist.  These usually bring over $25,000.

We would encourage you to contact us by phone or email, if you would like current pricing information for your specific note.  We are interested buyers.