Dewey, Oklahoma. Indian Territory. $10 1902 Red Seal. Fr. 614. The First NB. Charter #8270. PMG Very Fine 30.We are delighted to add another national banknote to the territorial census. This note came to light in April of 2017 residing in Florida. It was consigned directly by one of the descendants of the signing cashier. Dewey was originally settled by Jake Bartles from nearby Bartlesville. Bartles owned and operated a general store and hotel in Dewey starting in the late 1890s. But it was oil that gave Dewey the population and resources needed to officially incorporate, and it did so in December of 1905. The First National Bank was up and running by May the following year. The bank prospered along with the town. This charter issued red seals, blue seals, and made it all the way through the national bank currency era. Until this discovery, the most exciting note from this Dewey bank was a VF blue seal. Needless to say, this territorial red seal has left all other state issued notes in its rear-view. PMG notes splits and pinholes, both of which are to be expected from a note that anecdotal evidence tells us was carried as a pocket piece by the cashier. It seems that territorials seem to get found at a rate of about five a year. The new discoveries tend to either be ugly with condition problems, or #1 notes that can cost $75,000 or more. This Dewey note is a nice compromise for someone who wants a territorial with great eye appeal and rarity but who doesnt want to pay the going price for a #1 or condition rarity.
