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- Product ID: 16270
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The 1902 $10 National Banknote from Stanford, Kentucky, Charter #2788, is a historic piece of American currency that offers a fascinating glimpse into the financial system of the early 20th century. Issued by the Stanford National Bank, this note is part of the 1902 series of National Banknotes, a series created following the National Banking Act of 1863, which established a system of nationally chartered banks that could issue their own paper money. The Stanford National Bank, located in Stanford, Kentucky, was authorized to issue currency under Charter #2788, making this $10 note a valuable and collectible item. The 1902 $10 National Banknote is not only a representation of the financial landscape of the time but also a rare artifact that highlights the artistry and security measures used in U.S. currency during this period.
The design of the 1902 $10 National Banknote from Stanford, KY, is rich in detail and reflects the high standards of engraving and security used in currency design during the early 20th century. The obverse of the note features a portrait of a woman, often interpreted as an allegorical figure representing Liberty or Commerce, symbolizing the ideals of freedom and trade that the U.S. financial system was built upon. Her serene expression and flowing robes represent both the elegance and the strength of the U.S. economy during this period. Surrounding the portrait are ornate borders filled with intricate designs meant to prevent counterfeiting. The serial numbers and bank name, "Stanford National Bank," are clearly visible, along with the bank’s charter number, #2788. This number is a key identifier for collectors and numismatists, as it links the note to a specific bank in Stanford, Kentucky. The reverse side of the note features the inscription "National Currency" and "United States of America," along with the denomination of "Ten Dollars" prominently displayed. The reverse also includes detailed geometric patterns and decorative elements that enhance both the note’s beauty and security.
The Stanford National Bank, which issued this $10 note, was one of many national banks established after the National Banking Act of 1863. These banks were authorized to issue paper currency backed by U.S. government bonds, a system that helped stabilize the nation’s financial system after the Civil War. The Stanford National Bank, established in the late 19th century, was part of a growing network of national banks across the United States. Each bank was given a unique charter number, which was used to identify the issuing bank on the currency it produced. The charter number #2788, printed on the note, specifically identifies this particular note as having been issued by the Stanford National Bank in Kentucky. The banknotes issued by these institutions were integral to the functioning of the American economy, and the notes themselves served as both a means of exchange and a symbol of the stability provided by the national banking system.
The mintage of the 1902 $10 National Banknote from Stanford, Kentucky, is relatively low compared to modern currency, making it a rare and desirable item for collectors. Although the precise number of notes printed by the Stanford National Bank is not readily available, the total number of national banknotes issued by each bank was limited based on the amount of U.S. government bonds held by the bank. National banknotes were printed in relatively small quantities, especially when compared to modern paper money, and many of these notes were retired or destroyed after being redeemed for new currency. As a result, surviving examples of these early 20th-century notes are rare, and those in good condition are highly valuable. The low mintage, coupled with the historical significance of the Stanford National Bank, makes this $10 note a prized piece for collectors and investors alike.
The 1902 $10 National Banknote from Stanford, Kentucky, is graded as VG (Very Good) condition, which indicates that the note shows signs of wear and handling but still retains much of its original detail and visual appeal. A VG-grade note typically exhibits creases, folds, and some discoloration, especially around the edges, but the overall design, text, and imagery are still clearly visible. The note may show signs of age, such as slight fading or softened edges, but the key features of the note, including the portrait of the allegorical figure and the bank’s name and charter number, remain intact. In this particular note, there is an additional factor to consider: tape, which has been applied to the note at some point in its history. Tape marks are often a sign of previous damage or repairs, and while this may detract from the note’s overall aesthetic appeal, it does not significantly affect its historical value. The presence of tape can affect the note’s grade, but collectors often appreciate the history behind such marks, as they can provide insight into the note’s journey through time.
Despite the tape marks, the 1902 $10 National Banknote from Stanford remains a valuable and significant collectible. National Banknotes, especially those from smaller or less well-known banks like the Stanford National Bank, are prized by collectors because of their rarity and historical importance. The design, which features intricate engravings and security measures to prevent counterfeiting, reflects the era’s dedication to the creation of secure and visually striking currency. Collectors often seek out notes from specific banks, and the Stanford note, with its relatively low mintage and distinct design, is an attractive option for those building a collection of National Banknotes. The presence of the tape, while a consideration for its condition and grade, does not diminish the note’s status as a valuable piece of American financial history.
The 1902 $10 National Banknote from Stanford, KY, Charter #2788, serves as a tangible reminder of the early days of the U.S. National Banking System. The design, mintage, and condition of the note all contribute to its appeal as a collector’s item and an investment piece. Though the tape marks on the note may affect its condition, the rarity and historical importance of the note ensure that it remains a highly desirable item in the world of U.S. paper money collecting. For those interested in U.S. financial history, the Stanford $10 note provides an opportunity to own a rare piece of the nation’s currency legacy. The value of such notes, coupled with their historical significance, ensures that they will continue to be cherished and appreciated by collectors and investors for years to come.