The Second Charter Dates Back: Where Banking History Meets Numismatic Treasure
Pick up a Second Charter Period Dates Back National Bank Note and you are holding something that no Federal Reserve Note can offer: the name of a specific town, a specific bank, and a specific moment in American economic expansion. Issued between 1882 and 1908, the Dates Back variety of Second Charter National Bank Notes carries a distinctive brown back design featuring the charter dates “1882” and “1908” printed in large numerals, flanked by intricate geometric lathe work. The obverse sports a blue Treasury seal, which immediately distinguishes it from the earlier Red Seal First Charter notes and the later 1902 series issues.
These notes were produced for thousands of individual national banks chartered under the National Bank Act, making the collecting universe enormous. But that enormity also means that certain states, certain banks, and certain signature combinations are genuinely scarce, while others are relatively available. Understanding those distinctions is what separates a casual buyer from a knowledgeable collector.
Understanding the Second Charter Period Framework
The National Currency Act of 1863 and its revision in 1864 established the framework for nationally chartered banks to issue currency backed by US government bonds. The First Charter Period ran from 1863 to 1882. When Congress renewed the national banking system in 1882, it authorized a new series of notes with a fresh design program. The Second Charter Period produced three distinct back varieties:
- Brown Backs (1882 to 1908): State name and charter number on the back in brown ink
- Dates Backs (1882 to 1908): The charter dates 1882 and 1908 dominate the back design in dark blue-green ink
- Value Backs (1882 to 1908): The denomination spelled out in large letters on the back
The Dates Back variety, our focus here, was introduced around 1882 as banks began receiving their renewed charters. The back plate was a uniform design regardless of the issuing bank, which makes back variety identification straightforward. The obverse, however, varied by denomination and carried the specific bank name, city, state, charter number, and the signatures of both the bank’s president and cashier plus the Register of the Treasury and the Treasurer of the United States.
The Seven Signature Combinations and Their Collecting Significance
Because the Dates Back notes span more than two decades, seven different pairs of Register/Treasurer signatures appear on these notes. Each combination corresponds to a specific window of time and affects both availability and value. The combinations, in order, are:
- Bruce / Gilfillan (1882 to 1883): The earliest combination, appearing on notes issued right at the start of the Second Charter Period. Relatively scarce across all states due to the short window.
- Bruce / Wyman (1883 to 1885): Somewhat more available than Bruce/Gilfillan but still a premium pairing.
- Bruce / Jordan (1885 to 1887): A shorter tenure for Jordan results in notes that command collector premiums.
- Rosecrans / Jordan (1887 to 1890): One of the more available combinations from the earlier half of the series.
- Rosecrans / Hyatt (1890 to 1891): Another short tenure combination, often overlooked but genuinely scarce for certain states.
- Rosecrans / Nebeker (1891 to 1893): Available across major states but scarce for territorial and small-state issues.
- Tillman / Morgan (1893 to 1897) and Morgan / Roberts (1897 to 1899) and continuing through Lyons / Roberts and Vernon / Treat into the early 1900s: The later combinations represent the bulk of surviving Dates Back notes for most states.
When evaluating a Dates Back note, always check the signature combination first. A Bruce/Gilfillan example from a small-state bank can be worth three to five times a comparable Vernon/Treat example from the same institution, even in the same grade. The Friedberg catalog assigns different numbers to each combination, so cross-referencing is straightforward once you know what to look for.
State-by-State Analysis: Geography as a Collecting Variable
One of the most fascinating aspects of National Bank Note collecting is how powerfully geography shapes rarity. States admitted to the Union later, states with smaller banking populations, and territories that achieved statehood during or after the Second Charter Period all produced fewer notes. Here is a state-by-state breakdown of the most significant collecting categories:
New England States: Massachusetts, Connecticut, Rhode Island
New England banks were among the earliest chartered under the National Bank Act, and many were already operating when the Second Charter Period began. Massachusetts alone had over 200 nationally chartered banks active at various points during the Dates Back period. Notes from Boston-area banks such as the First National Bank of Boston (Charter 200) and the National Shawmut Bank appear with some regularity in the market. However, notes from smaller Massachusetts communities, particularly those whose banks closed before 1900, are genuinely scarce. Rhode Island notes are rarer than Massachusetts notes in general due to that state’s smaller banking population, but Providence banks issued enough notes that examples surface reasonably often. The scarcest New England Dates Back notes by far come from Vermont and New Hampshire, where many banks had small print runs and the populations served were modest.
Mid-Atlantic States: New York, Pennsylvania, New Jersey
New York State represents the single largest source of surviving National Bank Notes from this period. New York City banks, including the Chemical National Bank (Charter 1565) and the Importers and Traders National Bank, issued enormous quantities of notes across all denominations. A Dates Back $5 from a major New York City bank in Fine condition might trade for $300 to $600, while the same denomination from a small upstate New York town in comparable grade could reach $1,500 or more. Pennsylvania follows a similar pattern, with Philadelphia banks well represented and rural Pennsylvania banks offering far more numismatic excitement. New Jersey Dates Back notes are somewhat scarcer overall, with premiums for notes from smaller communities in the southern part of the state.
Midwest: Ohio, Illinois, Indiana, Iowa
The Midwest was the heartland of the national banking system during the Dates Back era, and Ohio and Illinois each had hundreds of issuing banks. Cincinnati and Cleveland banks from Ohio and Chicago banks from Illinois produced large quantities of notes. The collecting appeal here lies in finding smaller-town notes, particularly from communities that no longer exist or whose banks had very short operating lives. Iowa Dates Back notes are especially popular with regional collectors due to the sheer variety of small agricultural communities represented. Many Iowa national banks were chartered specifically to serve farming communities, operated for one or two decades, and then merged or closed, leaving only a handful of surviving notes.
Ned Van Zandt’s “National Bank Notes: A Guide with Prices” and Don Kelly’s “National Bank Notes” reference volumes are indispensable tools for state-by-state rarity analysis. Kelly’s work in particular provides census data for known surviving notes by bank and denomination, which is far more useful than generic rarity ratings when you are trying to evaluate a specific note from a specific institution.
Southern States: Virginia, Georgia, Tennessee, Texas
The post-Civil War South had a complicated relationship with the national banking system. Many Southern states had relatively few nationally chartered banks compared to their Northern counterparts because the bond deposit requirement disadvantaged regions with less access to federal securities. This makes Southern Dates Back notes genuinely scarce as a group. Virginia has somewhat more representation than deep Southern states. Georgia and South Carolina Dates Back notes are legitimately rare, with many specific banks represented by only one or two known surviving examples. Texas is a special case: the state had a patchwork of nationally chartered banks, and Texas Dates Back notes carry significant premiums in the collector market. A $10 Dates Back from a small Texas town bank might comfortably bring $2,500 to $5,000 in Very Fine or better, compared to $400 to $700 for a comparable Ohio note.
Western States and Territories: Colorado, Wyoming, Idaho, Montana, Nevada
The Far West is where Dates Back collecting truly becomes a pursuit of genuine rarities. States that achieved statehood in the 1889 to 1890 wave (North Dakota, South Dakota, Montana, Washington, Idaho, Wyoming) had active national banks during the Dates Back period, but those banks served small populations, operated for shorter periods in many cases, and consequently issued far fewer notes. Nevada is perhaps the most extreme example: the state’s sparse population and limited banking activity mean that Nevada Dates Back notes from any denomination are legitimately rare, with some banks represented by only a single known note. Colorado notes, by contrast, are more available due to the Denver banking market and the mining industry’s demand for currency, but smaller Colorado mountain towns still offer excellent opportunities for serious collectors.
Oklahoma and Indian Territory
Oklahoma did not achieve statehood until 1907, one year before the Dates Back series ended. Notes issued from Oklahoma Territory and Indian Territory banks during the very end of the Dates Back period are among the most historically evocative in all of American numismatics. A Dates Back note carrying the designation “Indian Territory” on its face represents a bank operating in what was still a legally distinct Native American land. These territorial notes command very strong premiums, with even well-circulated examples bringing $5,000 and up at major auction. Oklahoma state Dates Back notes, issued only in 1907 to 1908, are similarly scarce and desirable.
Do not overlook denomination as a rarity factor within state collecting. The $50 and $100 Dates Back notes are significantly rarer than the $5 and $10 for almost every state, both because fewer were printed and because higher-denomination notes had a much higher survival rate in terms of being redeemed and destroyed rather than saved. For smaller Western states, a $50 or $100 Dates Back can be a genuine key-date piece regardless of which bank issued it.
Grading Considerations Specific to Dates Back Notes
Dates Back notes, like all large-size nationals, are graded on the standard Sheldon 1 to 70 scale by PCGS Currency and PMG. However, there are some specific grading nuances worth understanding. The deep blue-green ink used for the back dates design is susceptible to ink oxidation and spotting, particularly around the large numerals. Examine the back carefully under good lighting before purchasing any ungraded example. The obverse blue seal on Dates Back notes can show ink flaking, especially at the serrations of the seal perimeter, which is a known issue on notes that have been stored in less than ideal conditions. Folds and creases on Dates Back notes tend to be sharply defined because the paper stock, while heavy, does not recover well from handling pressure. A note graded Very Fine 25 by PMG or PCGS is generally considered a solid circulated example and represents good value for most collectors building state or denomination sets.
Authentication and Known Counterfeits
Because Second Charter Dates Back notes can be quite valuable, particularly for scarce states and signature combinations, authentication is important. The Bureau of Engraving and Printing used intaglio printing for both the obverse and back, which means the ink is raised and tactile on genuine examples. Counterfeits produced photographically will feel flat. The serial numbers on genuine Dates Back notes are in a distinctive red-orange ink on the face, printed separately from the main plate, and should show slight embossing. Treasury seal colors should be a clear medium blue, not faded gray or washed out. PMG and PCGS certification is strongly recommended for any example valued above $500.
| State / Territory | Signature Combination | Approx. Notes Known | Rarity |
|---|---|---|---|
| New York (major city banks) | Any combination | 500+ | Common |
| Massachusetts (Boston area) | Lyons/Roberts or later | 200+ | Common |
| Ohio (Cincinnati/Cleveland) | Rosecrans/Jordan or later | 300+ | Common |
| Texas (small town banks) | Any combination | 15 to 60 per bank | Scarce |
| Virginia (rural banks) | Bruce/Gilfillan or Bruce/Wyman | Under 30 | Scarce |
| Georgia | Any combination | Under 20 per bank | Rare |
| Wyoming | Any combination | 10 to 25 per bank | Rare |
| Nevada | Any combination | Under 10 per bank | Key Date |
| Indian Territory | Vernon/Treat or Vernon/McClung | Under 15 total known | Key Date |
| Oklahoma (1907 to 1908 statehood issues) | Vernon/Treat | Under 25 total known | Key Date |
Building a Meaningful Collection: Strategies for Every Budget
For collectors entering the Dates Back space with a modest budget, building a denomination set from a single state is an excellent starting point. Choosing a major state like Ohio or New York allows you to find examples in the $300 to $800 range and develop your eye for the series before tackling scarcer material. As your knowledge and budget grow, the natural progression is toward smaller communities, scarcer states, or premium signature combinations. A single-state collection focused on, say, all surviving Iowa Dates Back banks across all denominations is a lifetime pursuit that connects you directly to the agricultural and economic history of the Midwest. For advanced collectors with deeper pockets, building a territorial set, meaning one note from each of the territories that were still territories during the Dates Back period, is one of the most challenging and rewarding goals in all of large-size currency collecting.
Where Dates Back Notes Appear in Today’s Market
The major currency auction houses, including Heritage Auctions, Stack’s Bowers, and Lyn Knight Currency Auctions, regularly feature Dates Back notes in their large-size currency sections. Heritage’s online archives are a particularly useful free research tool, allowing collectors to search by state, bank name, and denomination to establish price histories. Major currency shows, including the annual Florida United Numismatists convention in January and the American Numismatic Association World’s Fair of Money in August, feature dealer tables with National Bank Note specialists. The Paper Money Collectors of Michigan and the Society of Paper Money Collectors both publish resources and maintain networks of collectors specializing in this area.
Conclusion: Why the Dates Backs Endure as a Collector Favorite
The Second Charter Dates Back National Bank Notes occupy a unique and enduring place in American numismatics because they are simultaneously history, geography, and art. Every note tells you precisely where it was issued, who signed it at the bank level, which federal officials were in office when it was printed, and what denomination of commerce it facilitated in communities ranging from Lower Manhattan to territorial Oklahoma. The blue seal, the large date numerals on the back, and the rich engraving of the obverse portraits combine to make these among the most visually striking notes of the large-size era. Whether you are buying your first circulated $5 from an Ohio bank at $400 or chasing a Nevada territorial rarity at auction, the Dates Back series rewards careful study and patient collecting. The notes are out there, waiting in collections assembled generations ago, ready to find new homes with collectors who appreciate exactly what they represent.
