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The 1902 Red Seal $10 National Bank Note from Brownstown, Pennsylvania, Charter #9026, is an important and highly collectible piece of U.S. currency, especially valued by collectors of National Bank Notes and early 20th-century paper money. The note is part of the 1902 series of National Bank Notes, which were issued following the passage of the National Banking Act of 1863. The National Banking Act was created to provide a more stable and uniform national currency, replacing the various state-chartered banknotes that were in circulation at the time. These notes were issued by federally chartered banks and backed by U.S. Treasury bonds, which made them more reliable than the notes issued by individual state banks. The 1902 Red Seal series, including this $10 note from Brownstown, Pennsylvania, reflects the ongoing evolution of the U.S. banking system and the gradual shift toward greater federal control of the nation's currency.
The design of the 1902 Red Seal $10 National Bank Note is both intricate and symbolic of the early 20th-century U.S. financial system. On the obverse, the note features a portrait of Alexander Hamilton, the first Secretary of the Treasury, a man whose vision and work were instrumental in shaping the financial system of the United States. His portrait is prominently displayed at the center of the note, and surrounding him is a series of ornate design elements. The most striking feature of the 1902 Red Seal notes is the red serial number and the red Treasury seal. These red elements give the note its distinctive appearance, setting it apart from earlier issues of National Bank Notes, which featured black ink for the serial number and Treasury seal. The presence of the red seal was a hallmark of the 1902 series, and it became a defining characteristic of the Red Seal notes. In addition to Hamilton’s portrait, the note features the words “UNITED STATES OF AMERICA” and “TEN DOLLARS” in large text, with the Treasury seal placed to the left of Hamilton’s portrait. The reverse side of the note features a design centered around the U.S. Treasury building, reinforcing the note’s federal backing and ties to the government’s financial infrastructure. The word “NATIONAL CURRENCY” is prominently displayed, along with the denomination “TEN DOLLARS” on both the left and right sides.
The 1902 Red Seal $10 National Bank Note from Brownstown, Pennsylvania, was printed by the Bureau of Engraving and Printing, the U.S. Treasury agency responsible for producing the country’s paper currency. The BEP played a key role in creating currency that would be both secure and resistant to counterfeiting. As part of the 1902 series, the note was printed using advanced engraving techniques, and it features several security elements that were standard for the time, such as fine line engravings and complex borders that made it difficult to reproduce. The BEP was tasked with producing the right balance between beautiful design and functional security to meet the increasing demand for currency during the early 1900s. The 1902 series, with its red seals, was part of the effort to modernize the U.S. currency system and introduce more reliable, easily identifiable bills that would also help combat the growing problem of counterfeiting. The Bureau of Engraving and Printing’s involvement ensured that this $10 note, like all National Bank Notes, adhered to the highest standards of printing, and it remains an excellent example of early 20th-century currency production.
The mintage of the 1902 Red Seal $10 National Bank Note from Brownstown, Pennsylvania, Charter #9026 is an important factor in its rarity and desirability among collectors. National Bank Notes were issued in limited quantities by individual banks, and the number of notes printed by any given bank depended on various factors, including the bank’s size and the needs of the local economy. Notes from smaller banks, such as the Brownstown National Bank, are generally rarer than those from larger, more prominent institutions. The Brownstown National Bank, Charter #9026, was a smaller institution, which further limits the number of surviving notes from this bank. The limited circulation of the 1902 $10 note, combined with the fact that many notes were redeemed or destroyed over time, makes surviving examples rare. Given the bank’s relatively small role in the overall financial landscape of the United States at the time, the mintage of this note was low compared to other National Bank Notes, and as a result, it is a sought-after item in the numismatic market.
The 1902 Red Seal $10 National Bank Note from Brownstown, Pennsylvania, is graded as MS62 by PCGS, which is a relatively high grade for a note of this age. The MS62 grade indicates that the note is in excellent condition with only minor imperfections. The note retains most of its original details, with clear printing, vibrant color, and sharp borders. However, as with any note of this vintage, some light wear is visible, such as slight creases or minor stains, but these imperfections do not detract significantly from the note’s overall appearance. The MS62 grade is considered a solid example of a well-preserved note that has been kept in good condition, and it is highly desirable for collectors who appreciate notes that have not been heavily circulated. The grade also suggests that the note is still in excellent shape compared to many other notes of this era, and it remains fully legible with no significant fading of the design elements.
Notes graded as MS62 are particularly valuable because they represent a well-preserved example of early 20th-century currency. While higher-grade notes (such as MS63 or MS64) would command even higher prices, an MS62 grade offers a balance between rarity and affordability, making it an attractive option for collectors. The condition of the 1902 Red Seal $10 National Bank Note from Brownstown, Pennsylvania, plays a significant role in its value, as notes in higher grades are generally more expensive and sought after. An MS62 grade indicates that the note is not perfect but remains in excellent shape, with enough clarity and sharpness to make it a prized piece in any collection. This particular note, given its red seal, low mintage, and historical importance, is a particularly valuable item for numismatists interested in National Bank Notes or U.S. currency from this period.
Collecting the 1902 Red Seal $10 National Bank Note from Brownstown, Pennsylvania, provides an opportunity to own a rare piece of U.S. history. National Bank Notes were an important part of the American financial system in the late 19th and early 20th centuries, and notes from smaller banks, like Brownstown, are highly prized by collectors due to their scarcity. The 1902 series represents a period of transition for U.S. currency, as the country moved toward a more centralized banking system and sought to standardize its money supply. For collectors interested in U.S. paper money from this era, the 1902 Red Seal $10 note offers a glimpse into the evolution of the country’s financial system and the way currency was used in local economies. The rarity of the note, its distinctive red seal, and its historical significance make it an essential item for those focused on early 20th-century U.S. paper money.
In conclusion, the 1902 Red Seal $10 National Bank Note from Brownstown, Pennsylvania, Charter #9026, in MS62 condition, is a highly desirable and rare piece of U.S. currency. Its limited mintage, distinctive red seal, and connection to the National Bank Note system make it a standout item in any collection. The note represents an important period in the history of U.S. paper money and is a tangible link to the economic and financial developments of the early 20th century. As part of a collection of National Bank Notes, this $10 bill offers a unique and valuable glimpse into the financial landscape of the time, and its rarity ensures that it will continue to be a prized item for collectors for years to come.