Kingfisher, Territory of Oklahoma. $10 1902 Red Seal. Fr. 613. The Farmers NB. Charter #6702. PMG Very Fine 30.Our currency staff at Stacks Bowers Galleries is no stranger to great national banknotes. We are quite fortunate to have the opportunity to handle many of the great notes that come onto the market periodically. While it can be easy at times to become immune to the awe of a rare note coming across our desk, occasionally one comes our way that stops us in our tracks, such is the case here.<p><p>The Farmers National Bank of Kingfisher was organized in March of 1903. Among the banks leadership was local businessman Richard Pappe who signed the presently offered note as the banks vice president. Pappe, a German immigrant was involved in a number of business ventures aside from banking including a bakery, real estate and an oil well. The bank issued a minuscule $11,050 worth of National Currency in the form of Series of 1902 $10 and $20 Territorial Red Seals before being liquidated in November of 1905. Most of the outstanding circulation was subsequently redeemed and by 1916 only a scant $170 worth of notes from the bank remained outstanding. <p><p>This is the only note known to survive from the Farmers National Bank of Kingfisher. It has been held by the Pappe family for decades. Bold red overprint inks are featured on this evenly circulated $10 note. The bank officers signatures, including that of Richard Pappe, are very neatly penned in striking inks. Sharply detailed design elements are featured throughout. <p><p>The town began in the Spring of 1889 when a large area of federally owned land in what is now Oklahoma was opened up for private settlement in a land run. Towns sprung up across the Territory of Oklahoma almost overnight. The town of Kingfisher City was founded April 22, 1889. It was named for one of the areas early settlers, a man named King Fisher. In June of 1890 Kingfisher City and the neighboring community of Lisbon were combined into a single town then known as Kingfisher. By the time the bank opened for business the population of the town was about 2000. Among the famous sons of Kingfisher is legendary businessman Sam Walton who was born there in 1918.<p><p>The note has everything a National Currency collector could hope for. Its an ultra-rare territorial Red Seal with a great title. It has excellent color, wonderful signatures and no detracting features whatsoever. One of the very few trophy nationals which come available in a given year and a note that is worth whatever it takes to secure. <p>
