Royal Oak's National Currency
The First National Bank of Royal Oak, the only National bank in town, was chartered on February 26, 1925 (Charter #12657) and went into receivership on July 3, 1931. The bank issued notes under the last two National Bank Note series, 1902 and 1929 (type 1) and only issued $5 denominations.
A Pictorial exhibit of currency:
First national bank of Royal oak #12657
currency issued 1925-1931
Series of 1902 Large Size Notes dated February 26, 1925
Plain Back Type issued 1925 through 1929
$5 58312 printed (16 known)
Series of 1929 Small Size Notes Type 1 issued July, 1929 through May, 1933
$5 25356 printed (5 known)
Total surviving notes known for Series of 1902 = 16 (total printed = 58,312)
Total surviving notes known for Series of 1929 = 5 (total printed = 22,356)
The 1902 Series were printed from 1902 to 1929 in sheets of four (4) notes per sheet and only the $5 denomination was printed for the First National Bank of Royal Oak #12657. All notes on the sheet had the same serial numbers, but different plate positions letters. The sheets were printed with the following denomination combinations:
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$5-$5-$5-$5
$5 circa 1925-1929, Series of 1902 “Plain Back Type” issued 1925 through 1929
Obverse: 23rd President of the United States 1889-1893, Benjamin Harrison (died 1901)
Reverse: The landing of the Pilgrims
The 1929 Type 1 Series were printed from 1929 to 1933 in sheets of six (6) notes per sheet. Each sheet contained all the same denomination notes with all the same numerical serial numbers, only the prefix letter (plate position letter) was different which identified the position of the note on the sheet. Therefore, six notes of the same denomination were printed with the identical serial number with only the prefixes of A,B,C,D,E being different. Contrasting the differences between Type 1 and Type 2 Series:
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Type 1 has an alpha prefix and suffix in the serial number. The suffix is always an “A."
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Type 1 has the charter number imprinted twice in black.
$5 circa 1929-1931, Series of 1929 “Small Size” Type 1
