Expert: PAPAJACK - 10/16/2008

Question
QUESTION: WHAT IS THE VALUE (if any) FOR A UNITED STATES OF AMERICA $20.00 BILL THAT HAS THE NATIONAL BANK OF SOUTH CAROLINA OF SUMTER ON IT.  IT APPEARS TO BE LEGAL CURRENCY. IT HAS A PICTURE OF HUGH MCCULLOCH AAND THE NUMBER 29527 UNDER THE PICTURE

ANSWER: Hello Charlotte,          

I need a bit more information from you to answer a question like this. There are so many reproductions and counterfeits around. If this is a genuine note the low end price will be  $50 to $90 dollars.

I need to know if there is a date on the note, or series date and any letter that follows it?
Who signed it?
What are the designs on the note? (Front and Back)
Is it he same size and colors as modern currency, or larger?
Is the number 3709 or 10660 on it? Perhaps a number from the issuing bank?
Does it have a banner in the top border of the note saying what type of currency it is?
aND FINALLY IS THERE A DATE ON TH BACK OF THE NOTE?

I look forward to hearing from you soon.

Good Luck


---------- FOLLOW-UP ----------

QUESTION: Dear Sir:  The $20.00 bill is larger than a regular one.  The designs are around the edge of the bill and appear to be similiar to our modern twenty.There is a 20 in each of the four corners. The date on the front is 1914.The number 10660 appears numerous times on the front and  edge.  It is signed by John Burke Treasurer of the United States. It also has the name Gale E. Parker,Register of the Treasury.
The is also a name which I cannot make out signed above the word President and another illegible name signed above the word Cashier.In the top border beside the number 10660 is the words SECURED BY UNITED STATESBONDS?? OR OTHER SECURITIES. oN THE BACK, i COULD NOT FIND A NUMBER, BUT THERE IS A PICTURE OF POSSIBLY A MYTHOLOGICAL FIGURE, POSSIBLY HOLDING A TOWER AND THE TORCH AND UNDERNEATH ARE THE WORDS PLURIBUS UNIUM..I HOPE THIS GIVES YOU A BETTER "PICTURE" OF THE BILL.THANKS FOR YOUR HELP...PLEASE LET ME KNOW.

Answer
Hello again Charlotte,          

This should state on it NATIONAL CURRENCY in the top middle part on the front. The number 10660 is the charter number given to the issuing bank by the government.  The number “29527“is the number of this note in sequence as issued by the chartered bank. The 1914 date you see is just when this bank had the run of these $20 dollar notes printed.

The reverse of the note is a depiction of Lady Liberty wearing a slave’s freedom cap. She holds the torch of freedom in one hand and has a FASCES “a bundle of rods and among them an ax with projecting blade borne before ancient Roman magistrates as a badge of authority”.  She is looking over the US Capitol and has an Eagle protected by the USA Flag Shield at her feet.

I do want to mention that one combination of the names PARKER- BURKE on the note cataloged as FR-584-A can be a rare $20 note and valuable to a currency collector. This note would start selling retail at $200 to a paper money collector.  But there are two other instances of this combination of signatures that range in value from $40 to $75 for FR657 and FR649.

Since there is no date on the back but a large blank space, you seem to have the FR-657 Plain Back $20 National Bank Note series date 1902.

The three main Grades are FINE, EXTRA FINE and CRISP UNCIRCULATED.

Your note retails from $60 to $160 or more in Fine condition at retail. And regularly sells with other charter numbers from $200 to $300 in Extra-Fine condition. But if it is a Crisp Un-Circulated Note it is selling from $1100 to $1300 dollars each.

I could not find a record of this South Carolina bank charter in a $20 denomination. It may sell for more at an auction since there were a lot of the $5 and $10 dollar notes selling well.


If you want help in locating a dealer in your area write me back with the nearest large Cities and some postal zip codes. I will try to locate some Paper Money/Coin Dealers to refer you to in your area.

This seems like a nice not with some great artwork, Good Luck.

PapaJack