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National Bank Notes > Illinois

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Morris, Farmers & Merchants NB, M8163
Fr. 614 $10 1902RS #1
Grade: XF    

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The last of three national banks to be chartered in Morris, this institution began by issuing Red Seals and closed in 1931 after issuing a few small notes. They started slowly with 1,550 sheets of $10-$10-$10-$20 of Red Seals before swamping that production with over 22,000 sheets of Blue Seals. Thus, the only Red Seals known are two #1 notes (from the banking family, no doubt) and a stray note in lower grade that has been sold as recently as 2008, where it brought $1,495. This #1 example is a lovely note for the assigned grade and includes perfect pen signatures of J. R. Collins, President, and Henry Stockton, Cashier. --- Jess Lipka Red Seal Collection --- Jess Lipka Red Seal Collection

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