Territorial National Bank Notes

Territorial National Bank Notes

 

Territorial national bank notes are the currency issued by banks in states that were not yet part of the union. There were only 15 territories that issued national bank notes. Despite only 15 territories issuing notes, there were 599 national banks in those territories that issued territorial national bank notes. Territorial national bank notes are generally considered the king of national bank notes. They aren’t always the most valuable but they are always in demand.

The territorial national bank note era began in 1865 when the First National Bank of Denver, Colorado got its national charter. When the entire national banking era ended in 1935 Hawaii, Alaska, and Porto Rico were still territories. However, in 1912 New Mexico and Arizona were the last of the contiguous 48 states to enter the union.

There are a couple of reasons why territorial national bank notes are so popular. The biggest reason is likely their rarity. All territories, with exception of Puerto Rico, were west of the Mississippi River. It is well documented that the western states always preferred coin instead of currency. As such, territorial national bank notes were heavily circulated because no one wanted to hold them. This extreme circulation meant that they deteriorated quickly and were destroyed. The survival rate of territorial national bank notes is much worse than other notes. The second reason for their popularity relates to the appeal of western states memorabilia in general. Cities like Tombstone, Sundance, among many other famous Wild West cities issued territorial national bank notes.

In terms of rarity Oklahoma and Indian territories are the least rare. However, as with all states, each bank has its own rarity, and even further each type of note has different values. We are very aggressive buyers of all territorial national bank notes; please contact us if you have a territorial national bank note for sale. info@rarenationalcurrency.com

 

First Charter Territorial National Bank Note

Second Chater Territorial National Bank Note

Third Charter Territorial National Bank Note

Listing of Territories that Issued National Bank Notes

 

Territory
Name

# of
Banks

Year Entered Union

 Alaska

1959

 Arizona

18

1912

 Colorado

13

1876

Dakota1

74

1889 

 Hawaii

1959

Idaho 

8

1890

Indian2

176

1907

 Montana

25

1889 

 Nebraska

3

1867

New Mexico 

55

1912

 Oklahoma

158

1907 

 Porto Rico

1

– 

 Utah

17

1896

 Washington

40

1889

 Wyoming

11

1890

 

1 – Consisted of North & South Dakota
2 – Indian Territory Became Part of Oklahoma