$20 National
dsessom
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I am a long time member of the coin forums, but have never posted in this forum before. I've been collecting coins (off and on) for decades but I came across a neat National note a few weeks ago that I couldn't pass up because it was issued from my home town of Lawton, Oklahoma. To be honest, I had no idea that these type notes even existed!
Now, I'm hooked... I have since purchased a Black Eagle and a Colonial 4 Shilling note. LOL
Anyway, I was wondering if there were any members of T&P or NBNC that could give me census numbers on the $20 National. I can't see paying $100 for a membership just yet, although that may change in the future! If not, it's no huge deal. I just know next to nothing about it, am sure I probably over paid for it, but that's ok. It's the only one I had ever seen. Thanks in advance!
I'm sure I will be posting more in this forum in the future. I love old currency as much as old coins now. 
Comments
Oh, by the way, this is a 1929 series, type 2.
Heritage lists sales for four Type 2 $20 notes. The most recent was in 2008. I think this is a really cool note because the serial number contains the same numbers as the charter number: 001267 and 12067.
Note: see correction in following post.
Let me correct that last post. Heritage only lists three notes. The fourth one that popped up was a Ty. 2 $10 note but the picture accompanying it was for a Ty. 1 $20.
The serial numbers on the $20 Ty. 2 notes they sold were 37 (with a gutter fold), 348, and 562.
Thanks! I noticed the serial and charter number similarity as well! That is kind of neat. Notes from this bank don't come up for sale very often, but it's a smaller city too. I hope to find a $5 and $10 in the future, or some earlier issues.
Is it worth the time and cost to get it graded? I have sent coins for grading, but never currency before.
As a collector of Nationals for over 35 years, I welcome you to this wonderful area of the paper money hobby. According to T&P, there are 7 large and 34 small-size notes reported on this Lawton bank with your note becoming the 35th small to surface from this charter. Lawton was the host to five different National Banks with the American NB being the most available. Three of the other banks are excessively rare with only one note reported on each of them. Also, in Comanche County, where Lawton is located, there was one bank in Fort Sill which is not particularly rare with about 20 notes each known in both large and small.
Member ANA, SPMC, SCNA, FUN, CONECA
Thank you very much for the info! I will create a search alert on HA, and Ebay to see if any more show up for sale.
One of the reasons I enjoy notes (sadly) is that I can SEE them! LOL My eyesight isn't as sharp as it used to be and coins are getting harder for me to see without a loupe. But I can see currency just fine!
I paid $250 for this particular note, and it's not graded. Since I'm so new in the field of currency, my best guess is that it would grade in the 20-30 neighborhood? Does this note appear to be worth grading? I don't plan on ever selling it. My son will likely inherit it when I'm gone. I'm 47, so I hope to stick around for a few more decades!
_Is it worth the time and cost to get it graded? _
It all depends on your circumstances. If, as you say you intend to hold on to it for a long time, there is no need to spend the money to get it graded. I've got notes that have resided in the same Archival Mylar-D holders for 30 years and they are doing fine. On the other hand, if you looking to sell, the market reality of today is that anything worth a few hundred bucks or more should be slabbed.
Regarding the Lawton bank, it only issued $10s and $20s so you won't to worry about finding a $5. I suggest you pick up a copy of Don Kelly's National Bank Notes: A Guide With Prices which was last published in 2008. The pricing information is way out of date but it will give you the information you need about each individual National Bank and what they issued. Copies can be found on Ebay (don't overpay) and perhaps from some numismatic book sellers. Someone on this forum might have a spare copy to sell, also.
Member ANA, SPMC, SCNA, FUN, CONECA
Thanks for the info! I will look for the book tonight. I currently keep all my currency in a Whitman large note album, with each raw note inside it's own sleeve before it goes into the album. I am excited about learning more about currency and collecting pieces that I find interesting. It might be odd, but I seem drawn to Confederate notes and fractionals. Many of my ancestors were Confederate soldiers. A few were very well known. Thanks again for the warm welcome and great info!
The $10 brown back territorial on the City National Bank of Lawton sold by Heritage in 2006 has an interesting description:
Lawton, OK - $10 1882 Brown Back Fr. 490 The City NB Ch. # (W)5753
Lawton is the county seat of Comanche County and owes its existence to its proximity to nearby Fort Sill, which is where this bank began life in 1901. Lawton was the last Oklahoma city where land was sold at auction to eager homesteaders, with that auction taking place on August 1, 1901. On August 6th, the city lots were auctioned off. A huge crowd, many of whom had been unsuccessful in the earlier land sale, streamed into town hoping for better luck in this outing. Lawton's principal banker, Mr. F.M English, who signed the Territorial example we offer here, had equipped his "bank," which was just a shack perched on crude rollers, to allow it to be moved quickly to the next lot the bank coveted. The procedure for the sale of the lots was most interesting. The government auctioneer stood on a dry-goods box for several days crying the lots, beginning at the northern edge of the 320 acre townsite. The winning bidder for each parcel was quickly escorted by a soldier to a well guarded tent, where he would receive title to his lot if he paid the full bid price in cash. Those lacking the full amount were allowed to post a $25 deposit, which would hold the lot for 30 minutes, after which it would be resold if the winning bidder could not come up with the full amount. Long lines at the town's two existing banks caused many buyers to forfeit their deposits. The first lot sold for $420. The highest price paid, for the lot opposite the land office, was $4,555. It was likely purchased by Mr. English, using the bank's building improvement fund. It was these wild and frantic beginnings that gave rise to the expression "land office business." The Brown Back we offer here is one of five Territorial examples reported from this bank, four of which bear the Lawton nomenclature. It's an attractive evenly circulated piece with clear pen signatures and bright colors, making it the perfect Territorial example for the collector who wants to own just one of these rare bits of early American history.
You can also try Track and Price, free one month trial.
Be very careful or you will get hooked. I first saw a national in May 1968. I bought my first National in March 1969 and have been hooked ever since.
Being a local amateur historian, I knew most of the story, but wow! What a beautiful note! I hope I can find one similar some day! Oh, the City National Bank of Lawton is still in operation, and now has 35 branches. Thank you for the info!
And only $17,800! A little expensive for my budget, but maybe there are one or two that are a little more affordable! LOL
Welcome to this forum....and it is not odd at all as I am hooked on fractional currency too. One can collect a 'type set' of fairly high quality notes without breaking the bank.
Check out my informational web site on fractionals before getting too involved. Also there is some good literature on them by Rob Kravitz.
www.myfractionalnotes.com