A Unique $10 Red Seal From Indian Territory
The Sole Territorial Recorded by the National Bank Note Census
Dewey, Oklahoma. Indian Territory. $10 1902 Red Seal. Fr. 614. The First NB. Charter #8270. PMG Very Fine 30.
Emerging from the proverbial weeds in 2017 and first consigned by a descendant of the signing cashier in its initial auction appearance, this $10 Red Seal accounts for the sole territorial note recorded on this charter. Originally chartered in June 1906 just over a year prior to Oklahoma gaining Statehood, the First National Bank opened its doors thanks to the prosperity brought to Dewey thanks to the discovery of oil. Prospering along with the town, National Bank Notes began to flow forth from the First National Bank to a tune of 700 sheets of the $10-$10-$10-$20 format. In total, 2,100 $10s just like this one were issued with serial numbers ranging from 1 through 700. Likely saved at the hands of the aforementioned Cashier just before (or after) Oklahoma gained statehood, this example comes from one of the last sheets in the range of issued notes. An observation which possibly explains the implausible survival of this note which would have otherwise been redeemed and met with an unceremonious end like so many of its peers. When Oklahoma gained statehood, the First National Bank most likely opted to first exhaust the existing supply of territorial notes owing to the fact that the first statehood issues from this bank were the Series of 1902 Date Backs authorized under the Aldrich-Vreeland Act of 1908 before ordering new plates which bore the date Oklahoma was admitted to the Union per policy set by the Comptroller of Currency. By far the most exciting note to ever surface from this institution, the collector of Territorial Nationals would do well to consider that most new territorial discoveries are quite ugly and heavily circulated or are beyond the means of even the most established collectors. In contrast, the present example offers a proverbial compromise that is effectively not a compromise by virtue of the uncommon eye appeal and rarity that this note offers at its present estimate. PMG Comments "Pinholes; Splits."

Estimate: $15000.00- $25000.00