Bank Name: The Old Detroit National Bank of Detroit
State: MI – Michigan
Charter Number: 6492
Lifetime: Operated 1902 to 1914 | Total Issue – $2,908,280
Series: $50 – 1902 Red Seal National Banknote
Sheets Printed: 500
Value: Call, Text, or Email For A Quote | Info@RareCurrency.com | 864-430-4020
Basic Design:
Rarity and Value: John Sherman is pictured on the front of each third charter $50 bill. Right now there are only about 100 1902 $50 red seals known to exist! That means that even generic examples should sell for a few thousand dollars. If you have a note from a rare bank or rare state, that also happens to be in great condition, then the value could easily be in excess of $10,000. Please contact us for exact values. Don’t forget to check the serial number. Number 1 notes always sell for nice premiums.
Current Market Analysis: The market for Michigan nationals is a little bit soft right now. I wouldn’t call it bad, but it can take a long time to find the right buyer. Banks in suburban Detroit towns are popular. You should also keep an eye out for notes from Upper Peninsula towns. Despite having a small population, lots of people have found memories of vacationing in that area and collect the notes. Today Detroit has a bad reputation. However, at one point in time it was a very wealthy old money type town. Lots of early notes are available from Detroit. Otherwise, anything printed before 1900 from Michigan is likely scarce. Rare notes tend to be found in circulated condition. Choice examples are much more difficult to locate.
We Are Buyers!!!
We buy all antique paper money issued by The Old Detroit National Bank of Detroit, MI. We can tell you how much your $50 bill is worth. We aren’t just dealers. We are also collectors, experts, and appraisers. We have contributed to numerous price guides and are considered specialists in the field of national currency. Contact us via phone or email to get your free appraisal today.