A national bank note is worth about $30-150 for a circulated Series 1929 $5, $10 or $20 from a common big-city bank, as of October 2026. Large size Series 1902 plain backs start near $85-100, Series 1902 red seals and Series 1882 brown backs start near $255-600, and the same note from a rare bank or small town can sell for ten or twenty times more, into the thousands.
National bank notes were issued from 1863 to 1935 by thousands of individual banks, each printing its own name, town and charter number on federal designs. That is why two notes of the same series and grade can differ in price by a factor of fifty. The bank, its state and how many of its notes survive decide the price before condition does.
Quick answer
- 1929 Type 1 or Type 2, $5 to $20, common bank, circulated: about $30-150. Crisp uncirculated: roughly $150-500.
- 1902 blue seal plain back, $5 to $20, common bank: from about $85-100 worn, $150-300 in Very Fine.
- 1902 red seal and 1882 brown back, date back or value back: from about $255-600 worn for common banks.
- Scarce banks, small towns and western or territorial notes: hundreds to tens of thousands.
- The bank's name, town, state and charter number are what you need to read first.
How do you identify and value a national bank note, step by step?
Read the bank, the town and the charter number, then work out the series. With those four facts a specialist can price the note in minutes.
- Confirm it is a national. The face says NATIONAL CURRENCY at the top and names a bank, for example THE FIRST NATIONAL BANK OF a town and state. Small notes carry a brown Treasury seal and brown serial numbers.
- Read the bank title, town and state. Write them down exactly as printed. Many towns had a First, Second and Third National, and some banks changed names over the years. The title on the note is what collectors search for.
- Find the charter number. It is the number the Comptroller of the Currency gave the bank. On 1929 notes it is printed in black on the face near the bank name; on Type 2 notes it is printed twice more in brown beside the serial numbers. On large notes it appears in the border design and as an overprint. Charter numbers run from 1, the First National Bank of Philadelphia in 1863, to more than 14,000.
- Measure it and find the series. Small notes, 6.1 by 2.6 inches, are all Series 1929. Large notes, about 7.4 by 3.1 inches, belong to the Original Series and 1875 (first charter), Series 1882 (second charter) or Series 1902 (third charter).
- Name the type. For 1929, Type 1 lacks the brown charter numbers next to the serials; Type 2 has them. For 1882, a brown back, a green back with 1882-1908 dates, or a green back with the value spelled out. For 1902, a red seal, a blue seal with 1902-1908 dates on the back, or a blue seal plain back.
- Grade it. Count folds, check corners and paper. Many nationals circulated hard in small towns, so a nice note from a rare bank can be the best known.
- Look up the bank. The census of reported notes for that bank, in Don C. Kelly's National Bank Notes or the Hickman and Oakes catalog, or the SPMC bank note history wiki, tells you how many are known. That number drives the price.
What are national bank notes worth by series and type?
These are starting values for common banks, from the lowest values listed by the Greysheet and Friedberg price guide (CPG), plus honest circulated ranges as of October 2026. A common bank here means a large city bank whose notes survive by the hundreds. Rarer banks are priced off these figures with the multipliers in the next section.
| Series and type | How to recognize it | Common bank, low grade | Common bank, Very Fine | Common bank, crisp uncirculated |
|---|---|---|---|---|
| 1929 Type 1, $5 to $20 | Small, brown seal, charter number in black only | From about $30-35 | $50-100 | Roughly $150-400 |
| 1929 Type 2, $5 to $20 | Small, extra charter numbers in brown by the serials | From about $30 | $50-120 | Roughly $150-500 |
| 1929 $50 and $100 | Small, Grant or Franklin | From about $110 and $190 | $150-300 | Roughly $400-900 |
| 1902 plain back, $5 to $20 | Large, blue seal, no dates on the back | From about $85-100 | $150-300 | Roughly $400-900 |
| 1902 date back, $5 to $20 | Large, blue seal, 1902-1908 on the back | From about $90-115 | $200-400 | Roughly $500-1,200 |
| 1902 red seal, $5 to $20 | Large, red Treasury seal | From about $255-475 | $500-1,200 | Several thousand |
| 1882 brown back, $5 to $20 | Large, brown back with the charter number in large green type | From about $265-320 | $500-1,000 | Several thousand |
| 1882 date back, $5 to $20 | Large, green back with 1882-1908 | From about $270-400 | $500-1,000 | Several thousand |
| 1882 value back, $5 to $20 | Large, denomination spelled out on the back | From about $365-600 | $700-1,500 | Several thousand |
| Original Series and 1875 | Large, red seal, ornate first charter designs | Several hundred and up | $1,000 and up | Five figures for many |
Small notes in the $50 and $100 denominations were issued by fewer banks and are scarcer from small towns. Large $1 and $2 nationals, the first charter $2 "lazy deuce" in particular, are scarce types that sell well into four figures.
Why do the bank and the state drive the price?
Because collectors build sets by state, county and town, and every bank is its own rarity. More than 14,000 national bank charters were granted between 1863 and 1935, some for city banks that issued millions of dollars in notes, others for country banks that issued a few hundred sheets. A note from a small bank in a state with many collectors and few surviving notes is in demand from everyone who collects that state.
| Bank situation | Typical number of notes known | Rough effect on a common-bank price |
|---|---|---|
| Large city bank, New York, Chicago, Philadelphia | Hundreds | Base price |
| Mid-size city or county seat bank | Dozens | About 1.5 to 3 times base |
| Small town bank in a well-collected state | A dozen or two | About 3 to 10 times base |
| Bank with fewer than ten notes reported | Single digits | Often 10 to 20 times base, sometimes more |
| Unique or first reported note for a bank | One | Priced at auction, often four or five figures |
| Territorial issues (Arizona, New Mexico, Oklahoma, Dakota, Alaska, Indian Territory and others) | Varies | Strong premiums; Alaska and Indian Territory are among the rarest of all |
The multipliers are rules of thumb, not a formula. Some states have far more active collectors than notes. Texas, California, Colorado, Wyoming, Nevada, Arizona and the territories carry premiums, while a common New York City or Philadelphia note is plentiful. A note can also be rare as a type and common as a bank, or the reverse: a bank that issued only 1929 Type 2 $20s is rarer in that type than its overall count suggests.
Who signed the note matters a little. Large nationals carry the bank cashier's and president's signatures, often hand-signed in ink, and a famous banker or a woman officer can add interest.
A worked example
Say you find a small brown seal $10 among a grandparent's papers. It reads THE FIRST NATIONAL BANK OF a small Kansas town, charter 3,000-something, Series 1929, with the charter number in black only, so it is a Type 1 note, Fr. 1801-1. It has four folds and soft corners, about Fine to Very Fine. If that bank were in Kansas City with hundreds of notes known, it would be a $40-80 note. Because it is a small-town bank, you look it up in the census and find a dozen or so 1929 notes reported. That makes it a note Kansas collectors want, and a specialist might place it around $150-400. Only a dealer who knows Kansas nationals or a sale result for that bank can confirm it, which is why the bank lookup comes before the price.
Common mistakes
- Pricing by series alone. A 1929 $10 is not a $40 note until you know the bank. Some are worth $40, some $4,000.
- Confusing a 1929 national with a 1929 Federal Reserve Bank Note. Both have brown seals. The Federal Reserve Bank Note names one of the twelve Federal Reserve Banks, not a local national bank, and is a common type.
- Confusing it with a Hawaii note. The 1934 and 1934A Hawaii notes have a brown seal and HAWAII overprinted on the face and back. Our old 20 dollar bill value guide covers them.
- Ignoring the town. Two banks with the same name in different towns are different notes with different values.
- Assuming an old local bank note is a national. Notes from state banks before 1866 are obsolete notes, not nationals, with their own market. Our guide to obsolete bank notes value covers them.
- Pressing, washing or taping a note. Processing and repairs cut the value, even on a rare bank.
- Splitting a group of notes from the same town. A run of notes from one bank, or a bank's own sheet, can be worth more together.
How WorthPic reads national bank note photos
WorthPic runs on the newest and most capable AI model available, tuned for exactly this kind of identification. From a photo of a national bank note it reads the bank title, town, state and charter number, the series and type, the denomination and the Friedberg number that follows from them. It checks the serial for a star or a low number, estimates a grade range from folds, corners and paper, and gives an honest value range with a most likely figure, flagging when the bank is likely scarce. What it cannot know from a photo is the current census for that exact bank, how many notes have surfaced in recent years and what the last one sold for, and it says so. It also cannot rule out a repaired tear or a pressed fold. It identifies and estimates. It does not authenticate, grade or appraise; for any note from a small town or a scarce bank, a specialist dealer or a currency auction house settles the value.
What to photograph
- The full face, flat, in daylight, with the bank title, town and charter number readable.
- The full back, which identifies brown backs, date backs and value backs on large notes.
- A close-up of the charter number and both serial numbers, which settles Type 1 or Type 2.
- A close-up of the signatures, especially hand-signed ones on large notes.
- The note in raking light from a lamp, to show folds and any pressing.
- The edges and corners, for tears, trimming and pinholes.
When should you get it looked at in person?
Get any small-town note, any large note and any uncirculated 1929 note looked at before you sell.
| Option | Cost | What you get | Best for |
|---|---|---|---|
| Dealer who specializes in nationals from your state | Usually no charge to look | Bank rarity knowledge and an offer | Small-town notes, groups from one bank |
| PMG or PCGS Banknote | Roughly $25-65 per note for most notes, more for high values | A numeric grade buyers accept | Uncirculated notes, rare banks, large size |
| Heritage, Stack's Bowers or Lyn Knight auction | Seller's commission | National and state collectors bidding against each other | Rare banks, territorial notes, first charter notes |
The Society of Paper Money Collectors runs a bank note history wiki with bank pages and census material, and state paper money collectors often know a bank's notes by serial. For the other old notes in a family hoard, see our guides to old dollar bills worth money and old 100 dollar bill value.
Sources
- Wikipedia: National Bank Note: 1863 to 1935 issue period, bond backing, charter number placement and bank officer signatures.
- Greysheet: Small Size National Bank Notes, Type One: Friedberg numbers and CPG value ranges for 1929 Type 1 notes.
- Greysheet: Large National Bank Notes, Third Charter: CPG starting values for 1902 red seals and plain backs.
- Greysheet: Large National Bank Notes, Second Charter: CPG starting values for 1882 brown backs, date backs and value backs.
- Planet Banknote: Collecting US National Bank Notes: 14,348 chartered banks, charter number ranges by period, state and territorial premiums, and rare-bank multiples.
- SPMC: Encyclopedia of U.S. National Bank Notes: research chapters on Series 1929, small issues and rarity.