National Bank Note Types - Series 1902 Red Seal
The Act of April 12, 1902 allowed existing National Banks to receive a 20 year extension, and also called for a new series of note designs to be issued. Over the next 28 years, there were 3 distinct types of Series 1902 bank notes issued: 1902 Red Seal, 1902 Date Back and 1902 Plain Back. Plain Backs are by far the most common type of the surviving Series 1902 bank notes, with 80% of the total notes reported. Red Seals are the rarest type with only 5% of the total Series 1902 notes reported, and Date Backs are in the middle with 15%.
Red Seals were the first of the Series 1902 Types to be issued, and were so named due to their red Treasury seal. These notes were issued from 1902 to 1908. Red Seals were issued to newly chartered National Banks, and also to replace the current Series 1882 notes as existing National banks extended their charters for 20 years upon expiration. Series 1902 Red Seals were issued in denominations of $5, $10, $20, $50 and $100, and in plate combinations of 5-5-5-5, 10-10-10-10, 10-10-10-20 and 50-100.
Following are front and back images of 1902 Red Seal notes for each of the 5 denominations issued:
- Don C. Kelly, National Bank Notes, A Guide with Prices. 6th Edition (Oxford, OH: The Paper Money Institute, 2008).
- Dean Oakes and John Hickman, Standard Catalog of National Bank Notes. 2nd Edition (Iola, WI: Krause Publications, 1990).
- Peter Huntoon, United States Large Size National Bank Notes (Laramie, WY: The Society of Paper Money Collectors, 1995).
- The National Bank Note Census, nbncensus.com
- Heritage Auction Archives, currency.ha.com