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The 1902 Date Back $20 National Bank Note from Mounds, Oklahoma, issued under Charter #6263 and graded VF25 by PMG, is a highly collectible piece of early 20th-century American banking history. This note originates from the First National Bank of Mounds, a small-town issuer in the then-young state of Oklahoma. As part of the 1902 Date Back series, it features the engraved charter year on the back—a distinctive and historically important feature. The VF25 grade, or Very Fine 25, indicates moderate circulation wear but solid preservation of all essential design elements. For collectors of Oklahoma nationals or regional bank notes, this piece stands out as both rare and deeply rooted in the economic development of early-statehood America.
The front of the note features a commanding portrait of Hugh McCulloch, the first and later two-time Secretary of the Treasury under Presidents Abraham Lincoln and Andrew Johnson. His image appears at the left side, surrounded by elaborate guilloché engraving and framed with bold borders. At the center of the note is the title “National Currency,” with the phrase “This note is secured by United States bonds deposited with the Treasurer of the United States of America” directly beneath. This text affirmed the note's legal tender status under the National Banking Acts and its backing by federal bonds.
Prominently featured on the face of the note is the name of the issuing bank, “The First National Bank of Mounds,” appearing in strong Gothic lettering across the center. Just below it is the charter number, “6263,” which also appears twice more on the note—once in each upper corner in smaller font. The serial number is printed in blue ink, and the brown Treasury Seal to the right of the portrait marks the note as a product of the 1902 series. The note’s plate position and Treasury signatures are engraved, while the signatures of the bank’s cashier and president are handwritten in ink, contributing to the unique identity of every issued note.
The back of the 1902 $20 Date Back note is rendered in deep green ink and includes the denomination, the issuing government, and classical design motifs. The centerpiece is a symmetrical layout featuring the phrase “UNITED STATES OF AMERICA” above and “TWENTY DOLLARS” below, flanked by ornate scrollwork and large green numerals “20.” Most importantly, this design includes the engraved inscription “1902–1902,” which differentiates Date Back notes from the similar but later Plain Back series that omits this date. This engraved date not only helps categorize the note but also connects it more directly to the era of its authorization.
Mounds, Oklahoma was a small but growing settlement in Creek County during the early 20th century. When the First National Bank of Mounds received its charter in 1902, Oklahoma was still in its territorial phase, achieving statehood in 1907. As a result, national bank notes issued from early Oklahoma towns carry special interest due to their connection to pre-statehood and early-statehood economic history. Charter #6263 was among a relatively small number issued in Oklahoma, and as with most rural banks, total print runs were modest. Surviving examples are correspondingly rare, especially in higher denominations like the $20 note.
National Bank Notes were designed to foster a uniform, stable currency in a period of diverse local banking practices. Each note was uniquely tied to a particular bank through the name and charter number printed on it. This makes each surviving note a piece of localized history as well as a legal tender artifact. Notes from Oklahoma are especially prized due to the state’s late entrance into the Union and the relatively low number of issuing banks. Notes from Mounds, in particular, are seldom seen in the marketplace, and each surviving example is considered a numismatic treasure.
The VF25 grade from PMG (Paper Money Guaranty) means the note displays moderate signs of circulation, including folds, soft corners, and light edge wear, but all elements of the design remain clear and attractive. At this grade, the paper is still firm and intact, the ink is legible and contrasting, and no major tears or repairs are evident. PMG’s encapsulation adds to the note’s value by certifying its authenticity and condition, giving collectors and investors confidence in their acquisition. VF25 is considered a collector-grade that balances affordability with preservation, often ideal for rare town or low-population charter numbers.
For collectors of National Bank Notes, $20 denominations offer both larger format engraving and a greater degree of scarcity compared to the more commonly encountered $5 notes. The combination of a moderately high denomination, an uncommon Oklahoma town, and a Date Back type make this note especially attractive. Its historical context adds further depth: issued at a time when Oklahoma was transitioning from frontier territory to full statehood, the note stands as a document of economic confidence and banking legitimacy in a rapidly developing region of the United States.
The First National Bank of Mounds eventually ceased issuing currency as the Federal Reserve System gained prominence in the years after its 1913 founding. Most notes like this one were redeemed and destroyed, making survivors even more precious. Collectors often seek out such notes to complete state collections, charter number groupings, or regional banking themes. This particular example, with its solid paper quality and clear printing despite circulation, offers excellent eye appeal and historical value for its grade.
In conclusion, the 1902 Date Back $20 National Bank Note from Mounds, Oklahoma, Charter #6263, graded VF25 by PMG, is a rare and significant specimen of American currency. It combines the appeal of scarce Oklahoma origin, a relatively high denomination, the desirable Date Back format, and certified preservation from a leading grading authority. Though it shows honest wear from use, it remains a striking and proud representative of the National Bank Note era, offering a compelling addition to any collection of U.S. currency or regional banknotes.