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We Paid $11,000!

Rare $50 1902 Red Seal Bill from The First National Bank of Elgin, IL

Bank Name:  The First National Bank of Elgin

State:  IL – Illinois

Charter Number:  1365

Lifetime:  Operated 1865 to 1935 | Total Issue – $1,417,250

Series:  $50 – 1902 Red Seal National Banknote

Sheets Printed:  1,960

Value:  Call, Text, or Email For A Quote | Info@RareCurrency.com | 864-430-4020

Basic Design:

Rarity and Value:  John Sherman is pictured on the front of each third charter $50 bill. Right now there are only about 100 1902 $50 red seals known to exist! That means that even generic examples should sell for a few thousand dollars. If you have a note from a rare bank or rare state, that also happens to be in great condition, then the value could easily be in excess of $10,000. Please contact us for exact values. Don’t forget to check the serial number. Number 1 notes always sell for nice premiums.

Current Market Analysis:  National bank notes from the Midwest typically struggle to sell for the same prices as equally rare notes from western and southern states. The plethora of notes available from Chicago banks really brings the value of many other notes from Illinois down. There are still plenty of collectors looking to buy notes from the wealthy suburbs in Chicagoland. Even Illinois banks in the St. Louis metro area have a close following. However, don’t expect rare notes from small farming communities to be worth tremendous amounts of money. They just don’t have a following amongst the people in the hobby who are paying up for interesting notes. The supply tends to outweigh the demand in today’s market.

We Are Buyers!!!

We buy all antique paper money issued by The First National Bank of Elgin, IL. We can tell you how much your $50 bill is worth. We aren’t just dealers. We are also collectors, experts, and appraisers. We have contributed to numerous price guides and are considered specialists in the field of national currency. Contact us via phone or email to get your free appraisal today.

Info@RareCurrency.com – 864-430-4020

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